Investor Presentation

February 2011

Disclaimer

This presentation has been prepared by SK Telecom Co., Ltd. (“the Company”). This presentation is being

presented solely for your information and is subject to change without notice. No representation or warranty,

expressed or implied is made and no reliance should be placed on the accuracy fairness or completeness of theexpressed or implied, is made and no reliance should be placed on the accuracy, fairness or completeness of the

information presented. The Company, its affiliates, advisers or representatives accept no liability whatsoever for

any losses arising from any information contained in the presentation.

This presentation does not constitute an offer or invitation to purchase or subscribe for any shares of the

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or commitment.

The contents of this presentation may not be reproduced, redistributed or passed on, directly or indirectly, to any

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Contents

1. Wireless market overview

2. 2010 results- Highlights- FY 2010 financial results- FY 2011 guidance

3. Key development- Smartphone user increase- Strong network portfolio- Network capacity management- Industry productivity enhancement(IPE)- Platform Business

4. Shareholder returnShareholder return amount

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- Shareholder return amount

1. Wireless Market Overview

Wi l k d M k h b b ib

Matured but rapidly increasing smartphone users

89 8% 93.8%98.3%

103.9%

Wireless market trend Market share by subscribers (Units: Million, %) (Units: %)

Total Smartphone79.4%

83.2%89.8% 93.8%

38 3 40.243.5 45.6

47.950.2

17 8%7%

Total Smartphone

38.3

16.5

24.829.3

50.6%31.6%

17.8%

55%38%

2005 2006

0.2

2007

5.7

2008 2009 2010

Total subscribers WCDMA subscribersPenetration

SK Telecom KT(Wireless) LGU+(Wireless)

4※ Source: Company data (As of Dec 31, 2010)

2. 2010 results Highlights*

3%3%3% growth in revenue, in spite of cut in sign-up feesand introduction of per second billingand introduction of per second billing※ 3% increase in ARPU during 2010**

87% i i B2B b idi87%87% 87% increase in B2B revenue, by providingmore sophisticated mobile office solutions

13%13% 13% growth in wireless internet revenue, offering attractive smartphone lineup in 2010

6%6%6% increase in subscribers, including 750%

6%6% increase in smartphone subscribers withunlimited data adoption

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Note: * Year-on-year basis**Exclude subscription fee and interconnection revenue

FY 2010 financial results2. 2010 results

Solid financial results in both revenue and profit in 2010

2010(KRW Bn) YoY (%)2009

Revenue 12 460 12 101 3 0%Revenue

Marketing Expense*

(R ti t R **)

2,974 2,985 -0.4%

(24 2%) (24 7%) ( 0 5% )

12,460 12,101 3.0%

(Ratio to Revenue**)

EBITDA 4,221 4,209 0.3%

(24.2%) (24.7%) (-0.5%p)

Operating Income 2,035 2,179 -6.6%

Net Income

CapEx

1,411 1,288 9.5%

1,845 1,769 4.3%

Note: * Marketing expense to sales ratio is calculated in accordance with KCC guideline** 1H 2010 : 26%, 2H 2010 : 22% 6

FY 2011 guidance2. 2010 results

R KRW 13 2 illi

Guidance for FY 2011*

YoY 6.3% growth (2009 2010 : 3.0%)

Revenue : KRW 13.25 trillion

Operating Income : YoY 10% growth

Operating Income in 2010 : KRW 2,035 million

Try to increase service revenue, maximizingcost efficiency

CapEx : KRW 2.0 trillion

Strengthening network competitiveness to maintain market leadership

Secure sufficient network capacity in accordanceith d t t ffi i (i l di LTE)with data traffic increase(including LTE)

7Note: * K-GAAP basis

3. Key development Smartphone user increase

Smartphone subscribers increased rapidly, with unlimited data planKey driver to revenue growth

Increased 1 person 2 device with rapid B2B adoption

5,000(K)

10,000(E)

4,000

5,000

All-in-one price plan users (55 or above)

All-in-one price plan users (below 55)

Accumulated smartphone users3,910

3,770

3,000

All in one price plan users (below 55)

2,500

66%2 330

1 000

2,000

730

1,220 56%

66%

1.210

2,330

0

1,000

'09 D '10 M J S D '11 D

460730

36%64%

40%60%

41%

59%44%

34%220

670

8

'09. Dec. '10. Mar. Jun. Sep. Dec. '11. Dec.

Note : 2010.6.22- Launched Galaxy S handset2010.8.16 - Offered unlimited data service

Strong network portfolio

“M t th i l i t t d d t ti l d i ”

3. Key development“Meet the wireless internet demand at any time, any place, any device”

Voice service (Nationwide)CDMA WCDMA

Voice service (Nationwide)

10 million Subscribers* Voice & high-speed data service (Nationwide)

15 million Subscribers*

Offers high-speed data service

WiBro

g p

Backhaul function for Wi-Fi service

N t ti i t k f d t i

LTE**

Large volume data service

Wi-Fi

Next-generation main network for data service

Offers highest data speed

g

Supplements to cellular network Note: * As of Dec. 2010** Scheduled to be introduced in 3Q 2011 9

Network capacity management

Utili i t k l ti t t l di t ffi

3. Key developmentUtilize various network solutions to meet exploding traffic

Upgrade Installation Control

4FA 6FA(3FA for voice, 3FA for data)

LTE(Introduce 3Q. 2011)

QoS Control(Only when n/w overloaded)

3 sector 6 sector Wi-Fi Zone Limited m-VoIP allowance3 secto 6 secto(Double network capacity)

o e(17,000(’10) 62,000(’11))

ted o a o a ce(Above All-in-one 55)

HSUPA HSPA+(14 4MPS 21MBPS)

Data Femtocell(1 000(’10) 10 000(’11))(14.4MPS 21MBPS) (1,000( 10) 10,000( 11))

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Industry Productivity Enhancement(IPE)

Utili i t l i f id l dd i t 3rd ti

3. Key developmentUtilizing telecom infra, provide value-add services to 3rd parties

Connected Workforce Connected FinanceProvide mobile office settingsto enhance productivity & efficiency

Provide ICT-based small branchesto financial institutions

Connected Management Connected HealthcareSupply mobile biz. managementsolution to SME** CEOs, utilizing

Set up healthcare platform, andprovide personal healthcare record

Connected Shopping Connected Car

smartphone and tablet PC to customers

Smart-cart service to customers,applying sensing tech.

Provide car’s safety, security andmaintenance info. with MIV*** tech.

Connected Learning ETCBuild education service platform,enabling customers to use education

t t ith t d i t ti

SOHO, Opinion mining system,Global IPE biz., etc.

11Notes: * Information communication technology

** Small and Medium Enterprises*** Mobile In Vehicle

contents with smart devices at any time

Platform business

B ilding e pandable platform b siness b creating ecos stem ith

3. Key developmentBuilding expandable platform business, by creating ecosystem withSK Telecom’s core asset

2010Developed various service platforms- T-store : exceeded 100 mn. downloads*

2011Leveraging T-store

Construct N-screen and personalized platform- Launched 3D magic book, utilizingaugmented reality service

Founded Open Innovation Center, idi t h l i i

p p

Location based service platform(SK Telecom) + Social Network Service (SK Communications)

Establish integrated commerce platformproviding one-stop helping servicesto outside contents developers

Established Integrated API** Center, opening core asset of SK Telecom. Notes: * In terms of Simple Sync App Downloads :p g Notes: In terms of Simple Sync App. Downloads :

Recorded 18 times more than from Android market** Application programming interface

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4. Shareholder return Shareholder return amount

Maintain strong shareholder return policy, increasing total amount

Total shareholder return(Units: KRW)

1,411 Bn. DPS Policy (Since 2007)

880 Bn.

1,288 Bn. Annual cash dividend of ￦9,400 / share

Including Interim dividend(￦1,000 / “Highest ever”

680 Bn.

g ( ,

share)

Share Buyback* : 1,250,000 Shares

From July to October 2010, ￦210 Bn.

Share price rose 4 5% during the

Cash dividend Share buybackNet income

2009 2010

Share price rose 4.5%, during the

buyback period (￦165,000 ￦172,500)

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Net income

Note: * These shares cannot be cancelled according to the Korean law

Q & AQ & A

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