The Company always strives to maintain a high level of governance standard and has adhered to prudent, excellent and efficient corporate governance principles and continuously improves its governance mechanism, regulates its operation process, improves its internal control mechanism, and ensures that the Company's operations are in line with the long-term interests of its shareholders as a whole through effective governance and disclosure measures. In 2025, the Company's shareholders' meetings, the Board and the Supervisory Committee operated soundly and efficiently. The Company was dedicated to lean management while ensuring stable and healthy operation, and elevated its high-quality development to a new level, while continuously optimising its internal control system and comprehensive risk management system in order to provide solid safeguards for the steady operation of the Company. Through systematic governance enhancement, the standard of the Company's corporate governance continued to improve and effectively protected the long- term interests of shareholders.

The Company persists in refining the basic system of its governance and continues to optimise the corporate governance system and operating mechanism to ensure standardised and effective operation in strict compliance with the Company Law, the Securities Law and the requirements of the CSRC, the SSE and the Stock Exchange. In 2025, in light of changes in applicable laws and regulations and the regulatory requirements in the places where the shares of the Company are listed, and taking into account the actual situation of the Company, the Company completed systematic amendments with respect to six rules including the Articles of Association, the Rules of Procedures of the Shareholders' General Meeting, the Rules of Procedures of the Meeting of the Board of Directors, the Rules of Procedures of Audit Committee, the Rules of Procedures of Remuneration Committee and the Rules of Procedures of Nomination Committee. The Company no longer maintains a supervisory committee or has any supervisor. The Audit Committee of the Board assumes the functions and powers of the Supervisory Committee, and relevant rules such as the Rules of Procedures of the Meeting of the Supervisory Committee have been abolished. The relevant provisions concerning class shareholders no longer apply, and pursuant to relevant regulatory requirements and taking into account the actual circumstances of the Company, amendments have been made to certain provisions in the Articles of Association and descriptions regarding the scope of business in the Articles of Association. The Company attaches great importance to the truthfulness, accuracy and completeness of information disclosure, and its information disclosure work received an A grade evaluation from the SSE for 2024-2025. At the same time, the Company attaches great importance to the construction and improvement of risk management and internal control systems, which provide important safeguards for the steady operation of the Company through clear organisational structure and responsibilities, effective authorisation approval and accountability system, clear objectives, policies and procedures, comprehensive risk assessment and management, sound financial accounting system, continuous operation performance analysis and supervision, etc.

In 2025, the Company convened a total of 2 general meetings, 7 Board meetings and 5 Supervisory Committee meetings. The convening, holding, voting and disclosure procedures of the relevant meetings were in compliance with the requirements of laws and regulations and the Articles of Association. Upon the abolition of the Supervisory Committee, a one-tier structure is adopted as the overall structure for corporate governance: the Board is established under the shareholders' meeting, while the Audit Committee, Remuneration Committee and Nomination Committee are established under the Board. The Board is authorised by the Articles of Association of the Company to make major operational decisions of the Company and to oversee the daily management and operations of the senior management. The Audit Committee is mainly responsible for reviewing the financial information of the Company and the disclosure thereof and supervising and assessing the internal and external auditing work and internal control.

For the year ended 31 December 2025, the roles of Chairman and Chief Executive Officer of the Company were performed by the same individual. In the Company's opinion, through the supervision by the Board and the Independent Non-Executive Directors of the Company, with effective control of the Company's internal check and balance mechanism, the same individual performing the roles of Chairman and Chief Executive Officer can enhance the Company's efficiency in decision-making and execution and enable the Company to effectively capture business opportunities. Many leading international corporations around the world also have similar arrangements. Save as stated above, the Company was in compliance with all the code provisions under the Corporate Governance Code as set out in Appendix C1 of the Listing Rules (the "Corporate Governance Code") in the year 2025.

The Company has always attached great importance to information disclosure, strictly complied with the requirements of the regulatory rules of the places where the Company's shares are listed, and stringently implemented the Rules for the Management of Information Disclosure of China Telecom Corporation Limited to standardise the procedures for the Company to collect, organise, summarise and report important information internally and prepare external disclosure documents, clarify the responsibilities and code of conduct of relevant departments and branches, and ensure the truthfulness, accuracy and completeness of the Company's information disclosure. In addition, the Company actively discloses data such as the numbers of mobile, 5G network and wireline broadband subscribers, etc. on a quarterly basis to strengthen communication with the capital market and improve the transparency of information disclosure. Meanwhile, the Company attaches great importance to the handling of inside information and standardised management of inside information through the Registration and Management System for Insiders of China Telecom Corporation Limited, ensuring the fairness and justice of information disclosure, and protecting the legitimate rights and interests of investors and relevant parties.

The Company established an Investor Relations Department which is responsible for maintaining proactive communications with shareholders, investors and other capital market participants and providing information and services required by the market. The Company's senior management and Independent Non-Executive Directors continuously provide the market with information regarding strategy and operational development of the Company and respond to investors' concerns through various activities such as annual and interim results briefings, investor briefings and investors road shows. In 2025, the Company conducted the annual and interim results announcement briefings effectively and conducted the third quarter results announcement briefing through online means. The Company organised investors to participate in the World Artificial Intelligence Conference (WAIC) and the Digital-Intelligent Technology Ecosystem Conference and collaborated with several listed companies controlled by China Telecommunications Corporation to carry out centralised roadshows. Focusing on strategic upgrades as well as strategic emerging businesses such as China Telecom Cloud and AI, the Company launched a special series on its WeChat official account for investor relations, to actively promote its technological innovation achievements and presence in strategic emerging businesses, enhance market recognition of its investment value and strengthen long-term investment confidence. In daily operation, the Company actively participated in a number of investor conferences held by major investment banks and securities firms worldwide through on-site and online means to maintain regular communication with institutional investors. At the same time, the Company set up an investor relations enquiry line to provide shareholders and investors with timely and convenient services.

In 2025, the Company's continuous efforts in corporate governance and investor relations gained wide recognition from the capital market and the Company was accredited with a number of awards. It won "Asia's Best CSR" award for the sixth consecutive year in the Asian Excellence Award 2025 organised by Corporate Governance Asia. It was named "Best Telecommunication Services Company in China" for the third consecutive year in the Asia's Best Companies Poll 2025 launched by FinanceAsia, and won the Gold Award of The Asset Corporate Sustainability Leadership Awards 2025. In the 2025 China Securities "Golden Bauhinia Awards" selection, the Company was awarded two prizes, including "Best Listed Company in Investment Value" and "Listed Company with Outstanding Investor Relations Management". It was also included in the China Association for Public Companies' lists of "Best Practices in Investor Relations Management for Listed Companies" and "2025 Top Listed Companies by Cash Dividend Payouts".