This printed article is located at http://netlinknbn.com/unitholders.html

Notice to Unitholders

The Telecommunications Act (Chapter 323 of Singapore) and Code of Practice for Competition in the Provision of Telecommunication Services impose certain obligations on NetLink NBN Management Pte. Ltd (the "Trustee Manager") and NetLink NBN Trust (the "Trust") including (a) giving written notice to Info-communications Media Development Authority ("IMDA") in the event that any person holds (or is in a position to control) 5% or more but less than 12% of the total number of voting units in the Trust, or (b) obtain IMDA's approval prior to any person becoming a 12% controller or a 30% controller. In addition, any telecommunication licensee or broadcasting licensee and/or its Associates (as defined in the Telecommunications Act (Chapter 323 of Singapore)) who wishes to acquire 25% or more of the total number of units of the Trust should note that such unitholding would require prior written approval of IMDA.

The Trustee Manager has the power, in the case of a breach of such limits applicable in relation to the interest in units or controlling of voting power in the Trust, to require the relevant unitholders to dispose of their units and, if such request is not complied with within 21 days after such request (or such shorter or longer period as the Trustee-Manager shall consider reasonable), the power to arrange for the sale of such units (or any part thereof). The Trustee-Manager also has the power to take all steps and do all things as it may in its absolute discretion deem necessary to ensure that the regulatory restrictions are complied with, including the power to restrict or suspend the voting rights, issuance or payment of any amount in respect of such units. The Trustee-Manager shall not be required to give any reason for, and shall not under any circumstances be liable to or be responsible for any losses incurred by, any person as a result of, any decision, declaration or action taken or made in this regard.

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