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Investor Presentaiton

Our transparent and balanced capital allocation policy 2 1 Group capex (excluding spectrum) outlook of $700-750m pa Efficient capital investments Sustainable capital structure 2 1 Return cash to shareholders 3 airtel | Africa Net debt / underlying EBITDA of 1.3x Continued focus on strengthening the balance sheet 3 Progressive dividend policy aims to grow the dividend annually by a mid- to high-single digit percentage from base of 5 cents per share for FY'22. Interim dividend of 2 cents. The Board has recommended a final dividend of 3 cents, taking total dividend to 5 cents for the year 14

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