#1Vodacom Group Annual results Year ending 31 March 2022 Further together O#2Disclaimer The following presentation is being made only to, and is only directed at, persons to whom such presentations may lawfully be communicated ('relevant persons'). Any person who is not a relevant person should not act or rely on this presentation or any of its contents. Information in the following presentation relating to the price at which relevant investments have been bought or sold in the past or the yield on such investments cannot be relied upon as a guide to the future performance of such investments. This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire securities in any company within the Group. Promotional material used in this presentation that is based on pricing or service offering may no longer be applicable. This presentation contains certain non-GAAP financial information which has not been reviewed or reported on by the Group's auditors. The Group's management believes these measures provide valuable additional information in understanding the performance of the Group or the Group's businesses because they provide measures used by the Group to assess performance. However, this additional information presented is not uniformly defined by all companies, including those in the Group's industry. Accordingly, it may not be comparable with similarly titled measures and disclosures by other companies. Additionally, although these measures are important in the management of the business, they should not be viewed in isolation or as replacements for or alternatives to, but rather as complementary to, the comparable GAAP measures. All growth rates quoted are year-on-year and refer to year ended 31 March 2022 compared to the year ended 31 March 2021, unless stated otherwise. This presentation also contains forward-looking statements which are subject to risks and uncertainties because they relate to future events. These forward- looking statements include, without limitation, statements in relation to the Group's projected financial results. Some of the factors which may cause actual results to differ from these forward-looking statements are discussed on slide 39 of this presentation. Vodafone, the Vodafone logo, M-Pesa, Connected Farmer, Vodafone Supernet, Vodafone Mobile Broadband, Vodafone WebBox, Vodafone Passport, Vodafone live!, Power to You, Vodacom, Vodacom 4 Less and Vodacom Change the World are trademarks of Vodafone Group Plc (or have applications pending). Other product and company names mentioned herein may be the trademarks of their respective owners. 2 Further together#3Vodacom Group | A transformational year Purpose-led model Digital 61 million society Financial inclusion financial services customers¹ Strategy in action Acquisition of market leader in Egypt and Ethiopia licence award Financial outcomes Free cash flow +4.6% R15.7bn growth South Africa fibre M&A to lower costs to communicate Inclusion for all Female representation of Board increasing to 42% post July AGM Dividend Acquired 110MHz of 6% 850cps yield high demand spectrum in South Africa VodaPay & M-Pesa Planet Carbon savings GHG emissions per terabyte of data -16% 1. Including Safaricom at 100% Vodacom annual results | March 2022 super-app launch ROCE up from 22.0% IoT across smart 23.4% medicine, agriculture and in FY21 buildings Further together#4Our Purpose | Further together Purpose We connect for a better future • • Digital society Affordable internet for all Digital solutions that transform lives Financial inclusion Inclusion for all • Diversity (incl women) • . Education ecosystem (incl youth) • • SMES Planet Energy mix, water, waste Biodiversity 4G coverage ITU pledge Additional 70 million people coverage over the next five years Food & connectivity Disaster Relief Fund DRC, Mozambique, Cape Town and KwaZulu-Natal Vaccination support mVacciNation and R87 million in financial support Platforms for good Connect Farmers >230k farmers across DRC, SA and Tanzania Vodacom annual results | March 2022 Further together#5Our Strategy | Leading African TechCo with clear System of Advantage Africa's leading communications company 1 Footprint strengthened • Launch and scale Ethiopia •Complete Egypt transaction 2 Secure leadership in mobile and fixed • Lead in mobile data - 4G, 5G. Accelerate smartphone penetration . • Partnerships and acquisitions to accelerate fixed connectivity Future of Home Diversify and differentiate with our digital ecosystem Scale financial 3 and digital services Pay, lend, insure, invest, trade in M-Pesa and VFS • Super-apps + mini-apps in all digital and e-commerce categories 4 Digital partner of 5 choice for enterprises World class loyalty and customer experience • Broadband for enterprise • End-to-end loT, Cloud, Security and BMS • SME Champion Engaged, loyal customer base • World class CX in all journeys, channels and touchpoints 6 Personalisation through CVM and Big Data Enhanced CVM and Big Data capabilities • Personalisation across full multi-product portfolio Optimised, future-ready TechCo Optimise assets 7 Technology leadership 8 through sharing in Network and IT • Towers • ⚫ Tech2025 • Fibre • Data centres Network co-builds Vodacom annual results | March 2022 • Best Network • Modernised IT . ⚫ Cyber-security 5 TechCo organisation 9 and culture •Future-ready employee experience • Transform skills and organisation for TechCo 10 Trusted brand and reputation • . Build a brand with purpose • Embed purpose and social contract into our reputation Further together#6Strategy in action | We are accelerating our System of Advantage Strategic objective: Acceleration: Strategic outcomes: Secure leadership in fixed and mobile Footprint strengthened Egypt, Ethiopia, SA Fibre M&A Acquired 110MHz of high demand spectrum in South Africa VodaPay and M-Pesa super-apps launch • Geographic and product diversification • Larger addressable market . Higher customer lifetime value • Enhanced growth, returns and societal impact Diversify and differentiate with our digital ecosystem Optimised, future- ready TechCo IoT across smart medicine, agriculture and buildings TowerCo separation in South Africa in progress Shared cost, open-access fibre deployment 64m After Vodafone Egypt deal¹ Financial Services customers, extending our leading fintech position 39 000 Network sites and one of Africa's largest tower owners 53% Smartphone penetration providing structural data opportunity >500m Population reach supporting scalable partnerships 1 Information Including Safaricom on 100% basis. Vodacom annual results | March 2022 6 Further together#7Strategy in action | M&A enhancing our growth and returns profile Market leading position across all our markets R102.7bn Vodacom Group revenue South Africa and International markets (DRC, Tanzania, Mozambique, Lesotho) R39.9bn Vodacom Group EBITDA EBITDA margin 38.8% R20.0bn Acquiring a controlling stake in Vodafone Egypt Market leader, with attractive asset portfolio (e.g. towers, spectrum) Skills and IT powerhouse Super-app opportunity to unlock financial and digital services Acceleration of loT and business propositions R31.2bn +17.3% Vodafone Egypt revenue (subsidiary, subject to deal closing) R40.0bn Safaricom revenue (associate)1 Safaricom EBITDA (associate)1 South Africa fibre - acquiring an up to 40% stake in CIVH Before Vodafone Egypt deal After Vodafone Egypt deal FY22 Operating profit Market leading open- access FTTx assets Enhance our home & business connectivity offering 15.2% Gigabit transmission and backhaul Close South Africa's digital divide 74.0% 10.7% 1. Safaricom at 100%. Results for year ended 31 March 2022 Vodacom annual results | March 2022 11.4% 8.0% 55.4% 25.2% South Africa International ■Safaricom ■Egypt Further together#8Highlights | Results reflect growth of new services 4.5% 5.8%* 3.0% 4.6%* 2.1% R14.6bn 5.4%* Revenue R102.7 billion 130m Customers¹ 4.8% growth Service revenue R79.9 billion Capital expenditure 14.3% intensity 61m Financial services customers¹ 5.0% growth Operating profit R28.2 billion 3.4% 850cps HEPS 1 013cps DPS 3.0% growth 1. Including Safaricom at 100% * Normalised growth presents performance on a comparable basis. This adjusts for trading foreign exchange, foreign currency fluctuation on a constant currency basis (using the current period as base) to show a like-for-like comparison of results Vodacom annual results | March 2022 8 Further together#9Geographic lens | Broad-based growth Group service revenue R billion Group operating profit R billion Group customers Millions/growth Normalised Normalised growth %* growth %* 6.4% 27.71 28.21 Group 5.4% 12.3% 37.6 37.7 3.5 3.1 17.5% 42.4 3.8 4.4 11.8% 77.61 79.91 Group 4.6% 22.1 22.2 5.6% 129.6 45.5 3.0% 41.7 3.2% 4.9% 3.8% 56.4 58.5 20.5 21.1 FY21 Safaricom (100%) FY22 FY21 FY22 2 International South Africa South Africa International Safaricom (39.93%) ■South Africa International ■Safaricom (100%) 1. Including corporate and eliminations 2. Vodafone Kenya Limited (VKL), a subsidiary, owns 39.93% of Safaricom. Vodacom Group Limited owns 87.5% of VKL, giving Vodacom an effective holding of 34.94% in Safaricom * Normalised growth presents performance on a comparable basis. This adjusts for trading foreign exchange, foreign currency fluctuation on a constant currency basis (using the current period as base) to show a like-for-like comparison of results Vodacom annual results | March 2022 9 Further together#10Product lens | We are diversifying into new revenue streams beyond mobile New services South Africa International Safaricom Financial services Digital services 14.4% R8.4bn IoT 27.6% R6.1bn 42.5% R16.0bn Fixed Core mobile Vodacom annual results | March 2022 Product life cycle Innovate Integrate into SoA Invest to scale 85.6% R50.1bn 72.4% R16.1bn 57.5% R21.7bn Optimise returns New services revenue as % of service revenue 10 Core mobile revenue as % of service revenue Further together#11Financial services | Continuing to scale our fintech platform 61 million 100% basis (including Safaricom) Strong underlying growth $324.6bn Proportionate basis (excl. minorities, incl associates)1 R11.2bn/$0.8bn financial services revenue R4.4bn/$0.3bn financial services PBT financial services customers in financial services revenue M-Pesa transaction value ■SA IB M-Pesa SF M-Pesa ■SA IB M-Pesa SF M-Pesa ■M-Pesa (IB + SF) ■SA IB M-Pesa SF M-Pesa ■SA ■M-Pesa (IB + SF) 14.5 30.5 28.3 12.3 5.0 4.3 324. 6 3.5 16.1 16.5 251. 1 3.3 4.5 5.0 13.3 13.5 2.4 2.7 2.4 2.7 FY21 FY22 FY21 FY22 FY21 FY22 FY21 FY22 million R billion US$ billion R billion VOD 14.4%* growth 47% penetration 29.2% growth 13% of service revenue SF 30.3% growth % 17% of Group c.40% PBT margin 1. M-Pesa Safaricom not reported. PBT margin based on International M-Pesa margin profile. Actual results may differ from this illustration * Normalised growth presents performance on a comparable basis. This adjusts for trading foreign exchange, foreign currency fluctuation on a constant currency basis (using the current period as base) to show a like-for-like comparison of results SA = South Africa; IB = International; SF = Safaricom Vodacom annual results | March 2022 11 Further together#12Financial services | Our business model is high-growth and scalable Consumer proposition Trusted platform and brand, personalised offers, access to affordable financial services Lifestyle super-app powered by 支付宝 ALIPAY Merchant proposition Large footprint, low set-up costs, personal targeting, low customer acquisition costs Consumer Money transfer to business & basic Microloans, overdraft, services Insurance Financial services marketplace Entertainment & content Behaviour airtime advance driven incentives 161 e-Commerce Investment & Savings Vodacom annual results | March 2022 vodapay MOPESA Multi-channel payments 12 Online/ offline payments Enterprise resource planning Digital shopping Loans & invoice financing mall BLE Insurance B2C, B2B & e-Commerce Investment & savings Further together#13Financial services | Good progress the two-sided ecosystem Merchant services Super-app Financial services + growth drivers Addressable market opportunities² Active merchants 550k 30 day active app users 2.8m M-PESA with and a transaction 28 mini-apps launched Vodacom financial services (SA) value of US$14bn Launched across all markets In Tanzania 20% of M-Pesa customers use financial services R270bn / App downloads Insurance $18bn 2.2m policies transactional data With 85 2.4m processed through up mini-apps 15% vodapay Voda Trade (ERP tool) $4bn of IMT remittance value up 57% Cash-in/out planned for FY23 Mobile payments FY26 addressable revenue pool US$4.4bn We generated US$1.1bn in FY22 Lending FY26 bank loans granted US$700bn We granted $6.1bn of micro-loans in FY22 Insurance FY26 addressable revenue pool US$60bn We generated US$70m in FY22 1. M-Pesa includes Safaricom on a 100% basis 2. Based on Company data, Omdia, Fitch Solutions and Statista for existing footprint and Egypt/Ethiopia Vodacom annual results | March 2022 13 Further together O#14South Africa highlights | Delivering despite strong comparative period Key indicator FY22 Reported % change Key milestones Service revenue growth Revenue (Rm) 80 828 5.3 Service revenue (Rm) 58 526 3.8 Vodacom Business service revenue (Rm) 17 705 11.6 EBITDA (RM) 31 747 3.3 . Data customers ('000) • 23 475 8.2 Financial services customers ('000) 13 541 20 2.0 • Vodacom annual results | March 2022 14 underpinned by continued demand for connectivity, incremental wholesale revenue and growth in our new services Key growth drivers • Vodacom Business customers up 10.0% Financial services grew 12.4% Smart devices up 13.1% to 26.2 million Regulatory update Spectrum issued Further together#15Key indicator FY22 International highlights | Growth underpinned by data and M-Pesa Normalised* % change Key milestones Reported % change Service revenue (Rm) 22 213 0.3 5.6 • Data revenue (Rm) 4 588 11.0 16.4 Strong data growth Usage growth 31.4% Smartphone penetration up 1.4pp to 33.7% M-Pesa revenue (Rm) 4 961 9.9 15.5 EBITDA (RM) 8 504 (3.2) (0.6) • Operating profit (Rm) 4 352 13.5 11.8 Data customers ('000) 21 175 2.6 M-Pesa delivers despite new levies • Strong underlying M-Pesa growth Result impacted by new mobile money levies in Tanzania • Active merchants more than M-Pesa customers ('000) 16 523 2.3 doubled • M-Pesa app live across all markets, mini-app roll-out ongoing * Normalised growth presents performance on a comparable basis. This adjusts for trading foreign exchange, foreign currency fluctuation on a constant currency basis (using the current period as base) to show a like-for-like comparison of results Vodacom annual results | March 2022 15 Further together#16Safaricom highlights | Strong growth supported by M-Pesa and fixed Key indicator¹ FY22 (KES'bn) FY22 LC% (Rm) change ZAR % change Key milestones Service revenue 281 107 37 715 12.3 0.3 • 48 441 6 758 8.1 (3.8) Data revenue M-Pesa revenue 107 692 14 452 30.3 16.6 EBITDA 149 062 19 989 11.1 (0.7) M-Pesa contribution increases 30% growth to reach 38.3% of service revenue from 33.0% in prior year Strong FTTx growth • FTTH customers grew 20.8% ⚫ FTTB customers up 24.1% Fixed revenue growth of 18.3% Data customers ('000) 25 220 6.1 • Guidance Growth for Core/Kenya M-Pesa customers ('000) 30 527 7.8 • Investment year for Ethiopia 1. Safaricom at 100% Vodacom annual results | March 2022 16 Further together#17ESG | Our ESG approach Key elements of our ESG framework . 1 Digital society • Connecting people and things • Digitalising business Deliver on our three purpose pillars Digitalising critical industry sectors •Digitialising government 3 Inclusion for all Access to the benefits of a digital society for all • Propositions for equality •Workplace equality • Planet Reducing our environmental impact Helping our customers decarbonise Promoting a circular economy Uphold our Social contract Trust, fairness and 2 leadership to activate and accelerate our purpose initiatives 4 Vodacom annual results | March 2022 Protecting Data • Data privacy • ⚫ Cyber security Guided by responsible business practices Protecting people ⚫ Health and safety Mobiles, masts and health ⚫ Human rights Responsible supply chain 17 Business integrity • Operates ethical, lawfully and integrity Tax and economic contribution Policy of zero tolerance towards corruption Provide transparency and measurement ESG progress measurement e.g. ESG ratings, reputation tracking and stakeholder feedback Further together#1800 00 AUH DITZIЯUTUR рог ୪୯୦୧ 00 ЈАМЯОН Яздила ro-2 T23T Aili Financial review 18 Further together#19R million FY22 Group Income Statement | Strong execution impacted by FX headwinds Reported % change Normalised*% FY21 change Revenue 102 736 98 302 4.5 5.8 Service revenue 79 936 77 574 3.0 4.6 EBITDA 39 888 39 299 1.5 2.1 Depreciation and amortisation (14 657) (15117) (3.0) Net profit from associates and joint ventures 3056 3 501 (12.7) 17.5 Operating profit 28 236 27 652 2.1 5.4 Net loss on disposal of subsidiaries (70) n/a Net finance charges (3 673) (3 801) (3.4) Profit before tax Taxation Net profit Attributable to: Equity shareholders 24 563 23 781 3.3 (6 829) (6 710) 1.8 17 734 17071 3.9 Non-controlling interests EPS (cents) HEPS (cents) Weighted average shares in issue (million) 17 163 16 581 3.5 571 490 16.5 1013 978 3.6 1013 980 3.4 1 694 1 695 (0.1) * Normalised growth, which presents performance on a comparable basis. This adjusts for trading foreign exchange, foreign currency fluctuation on a constant currency basis (using the current period as base) and excludes the impact of merger, acquisition and disposal activities at a constant currency basis where applicable, to show a like-for-like comparison of results 19 Further together#20Service revenue | Consistent performance in South Africa Group R million/% South Africa R million/% International R million/% 7.8% 5.3% 4.8% 13.5% 5.2% 3.1% 4.5% 6.7% 7.6% 3.2% 4.9% 3.3% 4.4% 5.2% 4.5% 3.2% 3.3% 2.2% 3.5% 1.7% 2.1% 0.0% -6.3% -5.9% 19 165 19 750 20 664 20 358 14 070 14 545 14 950 14 961 5 301 5412 5913 5586 1Q22 2Q22 3Q22 4Q22 1Q22 2Q22 3Q22 4Q22 1Q22 2Q22 3Q22 4Q22 Service revenue Reported YoY % growth Normalised✶ YoY % growth Service revenue Reported YoY % growth Adjusted YoY % growth1 Service revenue Reported YoY % growth O.. Normalised* YoY % growth 1. Adjusted for a R142 million loyalty programme provision release in the prior year * Normalised growth, which presents performance on a comparable basis. This adjusts for trading foreign exchange, foreign currency fluctuation on a constant currency basis (using the current period as base) and excludes the impact of merger, acquisition and disposal activities at a constant currency basis where applicable, to show a like-for-like comparison of results Further together 20#21Group EBITDA | Margin pressure not reflective of underlying trend Group R million /% South Africa R million/% International R million/% 40.0% 38.8% 1.5% 2.1%* 40.1% 3.3% 3.6%# -3.2% 38.6% -0.6%* 37.2% 39.3% 39 299 39 888 30 745 31 747 8 784 8 504 FY21 FY22 FY21 FY22 FY21 FY22 EBITDA -EBITDA margin (%) * Normalised growth, which presents performance on a comparable basis. This adjusts for trading foreign exchange, foreign currency fluctuation on a constant currency basis (using the current period as base) and excludes the impact of merger, acquisition and disposal activities at a constant currency basis where applicable, to show a like-for-like comparison of results #Adjusted for a R142 million loyalty programme provision release in the prior year Further together 21#22EBITDA | Growth profile impacted by one-off events Group EBITDA growth 1.6pp 1.0pp International EBITDA growth -0.6% 7.2pp 4.7pp 2.1% 4.7% 11.3% FY22 EBITDA growth* Lease contract separation Mobile money Tanzania levy FY22 adj EBITDA growth FY22 EBITDA growth* Lease contract separation Mobile money Tanzania levy FY22 adj EBITDA growth 38.8% +0.6pp +0.1pp 39.5% EBITDA margin 37.2% +2.6pp +0.6pp 40.4% | * Normalised growth, which presents performance on a comparable basis. This adjusts for trading foreign exchange, foreign currency fluctuation on a constant currency basis (using the current period as base) and excludes the impact of merger, acquisition and disposal activities at a constant currency basis where applicable, to show a like-for-like comparison of results Further together 22#23Cash flow | Higher cash capex to capture rand strength Group free cash flow R million 1.5% 955 Accelerated to capture strong rand -14 642 1.6% -4 172 664 -7 124 -2 318 4.6% 2 409 39 888 22 693 15 660 EBITDA Working capital Capital expenditure 1 Lease liability payments Other Operating free cash flow Tax paid Net finance costs paid Net dividends Free cash flow 1. Capital expenditure comprises the purchase of property, plant and equipment and intangible assets, other than license and spectrum payments. Purchases of customer bases are excluded from capital expenditure 23 Further together#24HEPS | Underlying growth Headline earnings per share cents (22) (13) 69 #Factors impacting reported growth (after tax and non-controlling interests) 3.4% 7.0%* • Start-up losses in Ethiopia of R380 million 980 1013 FY21 Start-up losses in Ethiopia Mobile money levy in Underlying growth FY22 Tanzania 24 Mobile money levy in Tanzania of R212 million Lease contract separation had no impact on net income Underlying growth of 69cps or 7.0% Further together#25Shareholder returns | Dividend growth Total dividend declared R million/% FY22 dividend policy and final dividend calculation 15513 15 183 15 535 7 435 7552 7 865 1 101 6 977 7 631 7 670 FY20 FY21 FY22 Interim dividend ■Special dividend ■Final dividend Total dividend per share declared Cents 845 825 850 90% of pre-Safaricom 2H22 headline earnings Flow through of Safaricom cash dividend (net of withholding tax) R7 449 million @ 90% R6 704 million I R2 322 million @ 50% R1 161 million Available for dividend distribution R7 865 million ! Dividend composition • Controlled operations: 720cps, up 6.7% (2H: 9.0%) i 130cps, down 13.3% Number of shares in issue I Final dividend per share 1 836 million 430cps 405 410 430 • Safaricom passthrough: 60 380 415 420 FY20 FY21 FY22 ■Interim dividend Special dividend Final dividend 25 Further together#26Capital structure | Debt lens ahead of M&A Maturity profile R billion Debt type R billion Net debt/EBITDA R billion times 29.3 39.7 39.1 41.2 23.1 0.9 0.9 10.0 10.6 11.2 O O FY21 FY22 FY21 FY22 Current Non-current Leases Financial Currency mix Debt mix % % Incl leases Excl leases Incl leases Excl leases 34.2 39.3 35.2 39.9 48% 17% 92% 8% 83% 52% 65% FY21 FY22 ■Net debt ■ EBITDA ONet debt/EBITDA 35% ■ZAR ■Foreign ■ZAR ■Foreign ■Fixed Floating ■Fixed Floating 26 Further together#27Targets | Medium-term targets DOWNLOAD 09 LOADING Targets Group service revenue growth Mid-single digit Group EBITDA growth Mid-to-high-single digit Group capital intensity ratio 13.0% to 14.5% of Group revenue • Considerations The Russia-Ukraine war presents risk, particularly to cost inflation • Safaricom's FY23 EBIT guidance of KES87-93bn indicates an investment year for Ethiopia • We expect the Vodafone Egypt, and CIVH fibre asset acquisitions will enhance our System of Advantage and provide scope to accelerate our Group growth profile These targets are, on average, over the next three years, and are on a normalised basis in constant currency, based on prevailing economic conditions, excluding spectrum purchases, exceptional items and any merger and acquisition activity such as Vodafone Egypt and CIVH 27 Further together#28Outlook | We have a clear ambition to grow new services FY21 FY22 Medium term (3-5 years) New services 25%-30% 17% 18% 3yr CAGR: c20% Financial services Digital services IoT Fixed Core mobile 83% 82% 70%-75% Modest CAGR growth Smartphone penetration 5G leadership New services revenue as % of Group service revenue Core mobile revenue as % of Group service revenue Further together 28#29Priorities | Enhancing shareholder value as we shift from telco to techco Execute on our System of Advantage Leadership in fixed and mobile - complete M&A Disciplined capital structure & allocation Utilise debt capacity -threshold of 1.5x EBITDA Accelerate and diversify returns Earnings & FCF - accelerating Group growth potential Enhance societal value Inclusion for all - increase female representation at management level* Diversify with our digital ecosystem -scale super-apps Simplify dividend - updated policy Attractive returns - improve ROCE Planet - reduce GHG emissions* Optimised TechCo - separate SA towers Invest within framework - maintain capex intensity Attractive returns - one of the highest JSE dividend payouts Digital society - drive financial inclusion* Vodacom annual results | March 2022 *ESG metrics are included in management long-term incentives 29 Further together#30Vodacom annual results | March 2022 8776 Profit each each tiers 30 Appendix Further together#31M-Pesa | P2P intervention supporting financial inclusion and platform growth International M-Pesa revenue 22.3% contribution to service revenue 46.5% of customers using M-Pesa Safaricom R million 17.3% 9.9% 30.3%* 38.3% 71.9% 15.5%* contribution to service revenue of customers using M-Pesa M-Pesa 2.3% to 4513 12 391 4961 14 452 customers up 16.5 million FY21 M-Pesa 7.8% to customers up 30.5 million Tanzania 3.8 million monthly Songesha customers Merchant 111.1% merchant growth International 248 thousand active agents International FY22 Safaricom Nano lending¹ $6.1 billion in loans granted Merchants¹ 550 thousand active merchants Platform1 $324.6 billion value processed in FY22 Safaricom 43.1% growth in Fuliza loans granted Safaricom 63.4% merchant growth Safaricom 262 thousand active agents 1. Including Safaricom (100%) * Normalised growth presents performance on a comparable basis. This adjusts for trading foreign exchange, foreign currency fluctuation on a constant currency basis (using the current period as base) to show a like-for-like comparison of results 31 Further together#32Finance charges and debt | Average cost of debt reduced Group net finance charges Group net debt R million % FY22 FY21 change R million FY22 FY21 Finance income 554 767 (27.8) Cash balances including overdraft 16 658 15 209 Finance cost (4 229) (4190) 0.9 Current borrowings Net finance costs (3 675) (3423) 7.4 Net gain/(loss) on Non-current borrowings remeasurement and 2 (378) (100.5) disposal of financial Other financial instruments (22 061) (9634) (29 347) (39 741) (429) (83) instruments Net finance charges (3 673) (3 801) (3.4) Net debt (35 179) (34 249) Average cost of debt (%) 7.7% 7.8% Net debt/EBITDA (times) 0.9 0.9 32 Further together#33Group tax | ETR impacted by Safaricom and change in Kenya tax rate Group tax charge and effective tax R million/% Reconciliation of SA tax rate to effective tax rate % FY22 Statutory tax rate 28.0% Net profit from associate and JVs Irrecoverable foreign taxes -3.5ppts +2.0ppts 28.2% 27.8% Tax rate differences and minimum alternative... +1.0ppts Non-deductible costs +0.3ppts 6710 6829 FY22 FY21 Taxation charge -Reported effective tax rate 33 FY22 Effective tax rate 27.8% Further together#34Tanzania | Mobile money and airtime levies Service Revenue contribution % Mobile Money levy background Timeline Airtime Levies Timeline 10% 90% 1st July 2021 Finance Act 15th July 2021 Implementation Early Sept 2021 1st July 2021 Finance Act Revised levies 20th Oct Implementation ■ Group ex Tanzania ■Tanzania R708 million negative service revenue impact due to mobile money and airtime levies in FY22 Material impact on end-user charges Zero levy prior to 15th July Up to 4.4% levy on P2P transaction value post 15th July (3.3% levy on avg in highest volume buckets) Up to 3.1% levy on P2P transaction value post 2nd Sept (2.3% levy on avg for highest volume buckets) Compounding dilution to incoming & savings 34 Additional pressure on consumers Zero levy prior to 20th October Up to 1.1% levy on airtime top-ups post 20th October (also 1.1% levy on avg in highest volume bucket) Compounding impact on consumer wallet O O 000 Oo Further together#35Country data South Africa Tanzania DRC Mozambique Lesotho Safaricom Population* (million) 60.8 63.3 95.2 33.1 2.2 56.2 GDP per capita (USD) 105 393n 1237 542 511 1316 1912 GDP growth estimate³ (%) 1.9 5.2 5.5 5.0 1.7 4.4 Ownership (%) 100 75 51 85 80 34.94$ Licence expiry period 2028/2032/ 2022/2024/ 2029 2031 2038 2036 2038μ 2026% Customers (thousand) 45 459 15 368 15512 8 954 1 882 42 440 ARPU (rand/month) 90A 334 42A 594 52A 75ẞ ARPU (local currency/month) 90A 5 132A 2.84 249A 52ª Minutes of use per month 125 232 32 120 62 562ẞ n/a * The Bureau of Economic Research for SA and Fitch Solutions for all other countries (Extraction date: April 2022). n GDP per capita in ZAR for SA. + Vodacom Group Limited owns 87.5% of Vodafone Kenya Ltd, which in turn holds 39.93% of Safaricom Plc, giving Vodacom an effective holding in Safaricom of 34.94%. H2028 (2G licence), 2032 (3G licence) and 2038 (4G licence). *2022 (3G licence), 2024 (2G licence), 2026 (4G licence) A Total ARPU is calculated by dividing the average monthly service revenue (including fixed line and other service revenue) by the average monthly customers during the period. B Total ARPU is calculated by dividing the average monthly service revenue (excluding fixed line and other service revenue) by the average active monthly customers during the period. Vodacom annual results | March 2022 35 Further together#36Impact of the exchange rate Revenue YoY% growth FY22 South Africa International Group FY22 South Africa International Group Average YTD exchange rates YoY% growth FY22 FY21 Reported Normalised* % changed USD/ZAR 14.85 16.36 (9.2) 5.3 5.3 ZAR/MZN 4.24 4.43 (4.3) 0.6 6.0 ZAR/TZS 156.04 142.57 9.4 4.5 5.8 EUR/ZAR 17.25 19.04 (9.4) ZAR/KES 7.46 6.67 11.8 Service revenue YoY% growth Reported Normalised* FY22 3.8 3.8 South Africa 0.3 5.6 International 3.0 4.6 Group EBITDA YoY% growth Reported Normalised* 3.3 3.2 (3.2) (0.6) 1.5 2.1 * Normalised growth, which presents performance on a comparable basis. This adjusts for trading foreign exchange, foreign currency fluctuation on a constant currency basis (using the current period as base) and excludes the impact of merger, acquisition and disposal activities at a constant currency basis where applicable, to show a like-for-like comparison of results. 36 Further together#37Definitions Customers Customers are based on the total number of mobile customers using any service during the last three months. This includes customers paying a monthly fee that entitles them to use the service even if they do not actually use the service and those customers who are active whilst roaming EBITDA Earnings before interest, taxation, depreciation and amortisation, impairment losses, profit/loss on disposal of investments, property, plant and equipment, and intangible assets, profit/loss from associate and joint venture, restructuring cost and BEE income/charge Data customers Data customers are based on the number of unique users generating billable data traffic during the month. Also included are users on integrated tariff plans, or who have access to corporate APNs, and users who have been allocated a revenue generating data bundle during the month. A user is defined as being active if they are paying a contractual monthly fee for this service or have used the service during the reported month Free cash flow Cash generated from operations less additions to property, plant and equipment and intangible assets, proceeds on disposal of property, plant and equipment and intangible assets, tax paid, net finance charges paid and net dividends received/paid and movements in amounts due to M- Pesa account holders M-Pesa customers M-Pesa customers are based on the number of unique users who have generated revenue related to M-Pesa during the last month South Africa Vodacom (Pty) Limited, a private limited liability company duly incorporated in accordance with the laws of South Africa and its subsidiaries, joint ventures and SPV's. ARPU Total ARPU is calculated by dividing the sum of the customer and incoming revenue for the period by the average monthly active customers during the period International International comprises the segment information relating to the non-South African-based cellular networks in Tanzania, the Democratic Republic of Congo, Mozambique and Lesotho as well as the operations of Vodacom International Limited (Mauritius) and Vodacom Business Africa Group (Pty) Limited and its subsidiaries MOU Minutes of use per month is calculated by dividing the average monthly minutes (traffic) during the period by the average monthly active customers during the period Normalised growth (*) Normalised growth, which presents performance on a comparable basis. This adjusts for trading foreign exchange, foreign currency fluctuation on a constant currency basis (using the current period as base) and excludes the impact of merger, acquisition and disposal activities at a constant currency basis where applicable, to show a like-for-like comparison of results. Operating free cash flow Cash generated from operations less additions to property, plant and equipment and intangible assets other than licence and spectrum payments and purchases of customer bases, net of proceeds on disposal of property, plant and equipment and intangible assets, other than license and spectrum payments and disposals of customer bases and movements in amounts due to M-Pesa account holders. HEPS Headline earnings per share 37 Further together#38More information Visit our website for more information http://www.vodacom.com 2022 upcoming dates Vodacom Group AGM 18 July 2022 1Q23 results 1H23 results 21 July 2022 14 November 2022 38 About us What we do Our purpose Investor relations Media COVID-19 Careers Contact us Investor relations Home Investor relations | Investor relations overview Information for our shareholders and the capital market Vodacom is a leading and purpose-led African connectivity and financial services company. The Group, including Safaricom, serves 130 million customers spanning across the consumer and enterprise segments. The Group offers a wide range of services, including telecommunication, IT, digital and financial services. Financial results > Integrated report > We have released our quarterly results for 31 December 2021 We have released our Reporting suite for the year ended 31 March 2021 Stock information > Find the current detailed Vodacom share price. (15 minutes delayed) Contact us [email protected] Follow us on social media @Vodacom f Facebook.com/vodacom Further together#39Forward-looking statement This presentation which sets out the annual results for Vodacom Group Limited for the year ended 31 March 2022 contains 'forward-looking statements', which have not been reviewed or reported on by the Group's auditors, with respect to the Group's financial condition, results of operations and businesses and certain of the Group's plans and objectives. In particular, such forward-looking statements include statements relating to: the Group's future performance; future capital expenditures, acquisitions, divestitures, expenses, revenues, financial conditions, dividend policy, and future prospects; business and management strategies relating to the expansion and growth of the Group; the effects of regulation of the Group's businesses by governments in the countries in which it operates; the Group's expectations as to the launch and roll out dates for products, services or technologies; expectations regarding the operating environment and market conditions; growth in customers and usage; and the rate of dividend growth by the Group. Forward-looking statements are sometimes, but not always, identified by their use of a date in the future or such words as "will", "anticipates", "aims", "could", "may", "should", "expects", "believes", "intends", "plans" or "targets" (including in their negative form). By their nature, forward-looking statements are inherently predictive, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, the following: changes in economic or political conditions in markets served by operations of the Group; greater than anticipated competitive activity; higher than expected costs or capital expenditures; slower than expected customer growth and reduced customer retention; changes in the spending patterns of new and existing customers; the Group's ability to expand its spectrum position or renew or obtain necessary licences; the Group's ability to achieve cost savings; the Group's ability to execute its strategy in fibre deployment, network expansion, new product and service roll- outs, mobile data, Enterprise and broadband; changes in foreign exchange rates, as well as changes in interest rates; the Group's ability to realise benefits from entering into partnerships or joint ventures and entering into service franchising and brand licensing; unfavourable consequences to the Group of making and integrating acquisitions or disposals; changes to the regulatory framework in which the Group operates; the impact of legal or other proceedings; loss of suppliers or disruption of supply chains; developments in the Group's financial condition, earnings and distributable funds and other factors that the Board takes into account when determining levels of dividends; the Group's ability to satisfy working capital and other requirements; changes in statutory tax rates or profit mix; and/or changes in tax legislation or final resolution of open tax issues. All subsequent oral or written forward-looking statements attributable to the Group or any member thereof or any persons acting on their behalf are expressly qualified in their entirety by the cautionary statements above and below. Vodacom expressly disclaims any liability in respect of the content of any forward looking statement and also expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein or to reflect any change in their expectations with regard thereto or any change in events, conditions or circumstances on which forward-looking statement is based. any such 39 Further together