3Q22 Results and Portfolio Strategy

PAKISTAN 4G users exceed 40 million supporting double digit top line growth Jazz VEON 3Q22 RESULTS YOY TRENDS TOTAL REVENUE 64.2bn SERVICE REVENUE 58.4bn SERVICE REVENUE AND YOY TRENDS 4G USERS AND PENETRATION (PKR Billion and %) (3 month active, million and %) MULTIPLAY CUSTOMERS Revenue share Share of monthly active users 54% +11.3% +12.9% +10.6% 47% 35% 42% 33% 23% PKR +12.0% PKR +11.3% 58.4 20% 52.5 40.6 46.5 16% 33.8 10% 22.2 EBITDA CAPEX 6.0bn 26.5bn PKR -6.8% PKR -37.2% 3Q20 3Q21 3Q22 3Q20 3Q21 3Q22 3Q20 3Q21 3Q22 ⚫ High inflation and elimination of energy subsides impacted utility prices: diesel +139% YoY, electricity +69% YoY, negatively impacting EBITDA margin c.6% Amidst the country-wide floods in August, Jazz ensured availability of telecom services Balanced revenue growth with YoY increase in subscribers and ARPU, gaining market share Continued revenue growth in Mobilink Bank (+37.9% YoY) and JazzCash (+78.6% YoY) Double-digit YoY revenue growth accomplished despite the impact of increased withholding tax and MTR reduction with further reductions in 2H22 16

View entire presentation