Vodafone Egypt Acquisition and Growth Strategy

Capital structure | Accelerating our System of Advantage Accelerate System of Advantage Utilising debt capacity Simplify dividend policy Enhance shareholder value M&A - Vodafone Egypt M&A - Fibre South Africa VE debt impact around R23 billion Capacity to accelerate growth Disciplined and strong M&A track record Debt capacity for SA fibre Scope to deliver post M&A Remain one of the highest dividend payouts on JSE Organic - lead in connectivity and new services Internal net debt threshold of 1.5x Aligning to dividend upstreaming mix Returns enhanced by growth acceleration EBITDA Focused on ROCE, leveraging scale and shifting from techco to telco as we unlock growth and returns potential 11 Further together

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