Investor Presentaiton

Structural separation roadmap of the fibre business Rationale Enabling operating model & drive utilisation Attract strategic partners Comply with local regulations • Reveal value GlobalConnect Ongoing assessment of key considerations c.2 years Regulation and licensing 16 Physical separation People • • Business & technical operations • Asset transfers Accounting separation FibreCo's setup • Neutral vehicle . Priority countries Potential partnerships • . Equity Business & technical operations MTN

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