Ooredoo Capital Markets Day

Key financial risk management issues are addressed... Debt refinancing / liquidity risk / rating ■ No imminent refinancing requirements in 2015 ■Current cash levels comfortable, smooth long term debt profile. " ■ Investment grade credit rating maintained Moody's "A2", outlook: negative; S&P "A-", outlook: stable; Fitch "A+", outlook: stable Interest Rate risk Majority in fixed rate debt Foreign Exchange risk ■ FX risk is natural part of investing in Emerging Markets ■FX hedging policy recently reviewed Leverage levels Hedging levels appropriate ■ Leverage of 2.5x, at the upper end of Board guidance of 1.5x-2.5x (Net Debt to EBITDA) Cash up-streaming ■Iraq (some dividends received, recent Central bank regulation changes, in progress) ■Tunisia (dividends received in stages). ■ Algeria (in progress) ■ No issues in Oman, Kuwait and Indonesia ooredoo Ooredoo Capital Markets Day | 25 May 2015 26

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