Investor Presentaiton

29 Telecom Egypt's Return Metrics & Cash Flow Summary Per Share Data In EGP DPS % Change EPS % Change Payout Ratio Cash Flow Summary In EGP Millions Return Metrics - YoY Analysis FY 2012 FY 2013 FY 2014 (In EGP Millions) 1.30 1.00 0.56 -7% -23% -44% 1.25 1.43 0.89 -18% 14% -38% 2,620 104% 70% 63% 2,219 YOY FY 2014 FY 2013 % Change Dividends Net Profit Net Cash From Operating Activities 1,796 2,083 -13.80% FY 2012 Cash Flows From Investing Activities -2,100 -418 402.95% Capital Expenditure (CAPEX) Cash Flows From Financing Activities -2,439 -2,353 3.68% (In EGP Millions) Net Change In Cash & Cash Equivalent Translation Diff. of Foreign entities Cash & Cash Equivalents at the BOP -2,744 -687 299.52% (4) 6 -168.96% Capex -Capex/Sales 5,644 6,325 -10.77% Cash and Cash Equivalents at the EOP 2,897 5,644 -48.67% • TE has a high free cash flow* generation ability. Free cash flow for FY 2014 reached EGP 1,076mn. *[Free cash flow defined as (EBITDA net of tax +(Depreciation & Amortization) tax shield - CAPEX- Net Borrowing)] Management believes that te has sufficient financial resources to finance growth areas within the group and potentially return cash back to its shareholders. Note: All financial figures reported are based on Consolidated financials under Egyptian Accounting Standards. 1,707 2,958 956 2,031 FY 2013 FY 2014 te Started rolling out fiber optic cables in newly developed areas and other replacement of existing copper based cables. Our aim is to build around 4 million home and enterprise connections by the year end 2015 at a Capital Expenditure of around EGP 2.0 billion. 2,523 Δ 21% WC+ 1,086 689 756 516 11% 7% 7% 5% FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 te

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