Investor Presentaiton

ETHIOPIA | LICENSE AWARDED AND OUR FINANCIAL AMBITIONS BR Spectrum Unified technology neutral telecoms services license, with spectrum allocated 2x10 2x10 2x20 2x20 2x20 3 Capex Investment 5Yr plan: USD 1.5-2.0Bn Network Rollout Y1: clk sites at launch Y10: 10k - 12k sites 10 $ MHz MHz MHz MHz MHz 800 MHz 900 MHz 1,800 MHz 2,100 MHz 2,600 MHz ܀ Y1 Funding including license payment (Safaricom PLC) USD c600Mn Funding sources; Equity, DFIs, local borrowing and internal reserves ` ÷ M EBITDA break-even in Y4 EBITDA Margin Y10 est. at around 40% Enablers Network expansion through own build and infrastructure sharing Sim card penetration World class digital services Mobile money products (subject to license award) Cs Safaricom BEYOND NO YEARS

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