Investor Presentaiton

25 Cost Breakdown SG&A Analysis In EGP Millions General & Administrative Expenses: YOY 12 Months Period Ending Dec FY 2014 % FY 2013 Change Salaries & Wages Margin/G&A Expenses 1,094 60.73% 972 64.66% 12.58% Depreciation Margin/G&A Expenses Others Margin/G&A Expenses 55 3.08% 49 3.29% 12.03% 652 36.20% 482 32.05% 35.40% Total G&A Expenses Margin/Total Revenue 1,802 14.82% 1,503 13.50% 19.88% Selling & Distribution Expenses: Salaries & Wages Margin/S&D Expenses 777 58.71% 749 63.53% 3.79% Depreciation Margin/S&D Expenses 9 2.92% 0.69% 0.75% Others Margin/S&D Expenses 537 40.60% 421 35.72% 27.64% Total S&D Expenses Margin/Total Revenue 1,324 10.89% 1,179 10.58% 12.30% Total SG&A Margin/Total Revenue 3,126 25.71% 2,682 24.08% 16.55% Note: All financial figures reported are based on Consolidated financials under Egyptian Accounting Standards. Others Depreciation Salaries & Wages FY 2014 Results The increase in salaries and wages is attributable to the 10% annual salary increase and the newly structured incentive rewards program, both of which came into effect as of the first quarter 2014, amounting for a difference of more than 150 million Egyptian Pounds on 2013. Impacted by the increase in the cost of the fully depreciated assets during the periods. G&A Expenses The Increase is mainly due to the increase in Taxes & Custom Duties by EGP 113 Million on 2013. S&D Expenses The increase is mainly due to the increase in discount allowed to mobile operators by EGP 102 Million on 2013. te

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