Investor Presentaiton

Capital efficiency drives rising ROCE¹ 14.5% H1'21 896bps 390bps 19.6% H1'22 23.5% H1'23 Strong operational trends underpinned by efficient capital deployment across all markets ROCE continues on a positive trajectory reflecting strong management execution as well as continued traction in mobile money Rising returns key to driving long-term value creation for all stakeholders 1: Return on Capital Employed (ROCE): LTM EBIT / average capital employed (refer APM section of press release for detailed definition) airtel | Africa 17

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