Vodacom Annual Results

Targets | 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

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