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Investor Presentaiton

Risk Factors The Group's business and the industry in which it operates, together with all other information contained in this document, including, in particular, the risk factors summarised below. Additional risks and uncertainties relating to the Group that are not currently known to the Group, or that the Group currently deem immaterial, may individually or cumulatively also have a material adverse effect on the Group's business, results of operations and financial condition. Principal risks summarised 1. We operate in a competitive environment with the potential for aggressive competition by existing players, or the entry of new players, which could both put a downward pressure on prices, adversely affecting our revenue and profitability. Failure to innovate through simplifying the customer experience, developing adequate digital touchpoints in line with changing customer needs and competitive landscape could lead to loss of customers and market share. 2. 3. An inability to invest and upgrade our network and IT infrastructure could affect our ability to compete effectively in the market. 4. Cybersecurity threats through internal or external sabotage or system vulnerabilities could potentially result in cus- tomer data breaches and/or service downtimes. 5. 6. 7. 8. Adverse changes in our external business environment and macro-economic conditions such as supply chain disruptions and inflationary pressures could lead to a significant increase in our operating cost structure and negatively impact profitability. Shortages of skilled telecommunications professionals in some markets and the inability to identify and develop suc- cessors for key leadership positions could both lead to disruptions in the execution of our corporate strategy. Our internal control environment is subject to the risk that controls may become inadequate due to changes in internal or external conditions, new accounting requirements, delays, or inaccuracies in reporting. Our telecommunications networks are subject to the risks of technical failures, aging infrastructure, human error, wilful acts of destruction or natural disasters. 9. Our multinational footprint means we are exposed to the risks of currency fluctuations including the availability of funds for repatriation to the Group company triggered by adverse macroeconomic conditions in the markets where we oper- ate. 10. We operate in a diverse and dynamic legal, tax and regulatory environment. A failure to comply with relevant laws and regulations could lead to penalties, sanctions, and reputational damage. 21
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