Broker Name: Maybank Research Pte Ltd
Date of Report: October 16, 2025

Excerpt from Maybank Research Pte Ltd report:

• Report Summary
• Maybank Research maintains a BUY rating on StarHub, highlighting multiple medium-term growth catalysts, ongoing cost optimisation, and a strong balance sheet offering downside protection.
• The report notes StarHub’s strategy to leverage market opportunities created by sector consolidation, rationalisation of competition, and robust growth in enterprise services, especially cybersecurity through Ensign.

Above is an excerpt from a report by Maybank Research Pte Ltd. Clients of Maybank Research Pte Ltd can be the first to access the full report from the Maybank Research website : www.maybank-keresearch.com