Investor Presentaiton

Industry opportunity - Telecom SALASAR Building a stronger future Mobile and Internet penetration ■ The proportion of unique mobile subscribers to the total population is expected to reach around 63% in 2025 from 58% in July 2018 ■ With the increase in the mobile phone penetration and reducing data costs in India, it is expected that the current internet user base that stands at 687 Mn might get doubled in the next 5 years 5G Rollout Plans & 4G Penetration ◉ Increase in the 4G penetration to provide 4G access to ~80%* of India's mobile subscriber base by 2024 Increased Demand for Telecom Tower Infrastructure pan India ☐ 5G rollout likely to attract ~USD 30 Bn^ in collective capital expenditures over a period of next 5 years by the top three telecom operators in India ■ With the positive outlook of the telecom sector it would be lucrative to move beyond traditional telecom business to wider digital consumer space like content and mobile banking solutions ☐ ☐ Government Initiatives that will provide a boost to the Telecom Infrastructure Segment The Government of India planned to roll out a new National Telecom Policy 2018 in lieu of rapid technological advancement in the sector over the past few years. The policy intends to attract investments worth USD 100 Bn in the sector by 2022 The Department of Information Technology intends to set up over 1 Mn internet-enabled common service centers across India as per the National e-Governance Plan *Ericsson Mobility Report November 2018 ^UBS Report 15

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