Key Milestones and Requirements for Safaricom Transaction

Diversify exposure | Complements growth strategy The proposed transaction is to be equity accounted in the Vodacom Group financial statements. The below charts are an illustrative contribution based on our proportionate shareholding in Safaricom; in practice Safaricom will only be reported in the "profit from associates" line within the Group income statement. Diversify exposure FY2017 Service revenue 24.6% 12.6% Enhances growth drivers FY2017 Service revenue Contribution 12% 5% 6% +27.7% 12% 21.5% 4% +19.3% 3% 75.4% 66.0% 31% +17.4% +16.2% 33% ■South Africa ■International ■South Africa International Safaricom FY2017 EBITDA 14.5% ■South Africa 85.5% International 13.7% 12.5% 73.7% South Africa International Safaricom 46% 47% -3.9% -4.9% Source: Company Filings. Note: ZAR converted to KES at average FX rate for FY2015/16 and FY2016/17.% are for the growth 2015-16 to 2016-17. Vodacom Group Combined Voice ■Data M-pesa Messaging Other 10

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