1. Operating Environment Tenacity in a challenging enviroment

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4 1. Operating Environment Tenacity in a challenging enviroment Liquidity Challenges GDP Growth (Year-on-year) Regulatory Developments Liquidity shortages in the local market Depleted foreign currency reserves and challenges with foreign suppliers payments 20.0% 15.0% 10.0% 5.0% 0.0% -5.0% E Source: The World Bank

5 2. Industry Performance Strong market position Revenue Market share Voice Traffic Market share Data Traffic Market share Telecel 9.1% Telecel 10.5% Telecel 7.7% NetOne 14.4% NetOne 19.6% NetOne 21.3% Econet 76.5% Econet 69.9% Econet 71.0% Mobile Money Value Share Source: Potraz Q Report Network Infrastructure Share Industry Revenue NetOne 0.3% Telecel 1.1% 35.4% 32.1% 34.4% % 15.9% 50.8% 52.0% 65.6% Econet 98.6% 2G 3G LTE Econet Telecel NetOne Total industry revenue Econet revenue Telecel revenue NetOne revenue Source: Potraz Report

6 3. Our Operating Model Robust business model enabling product diversification TELECOMMUNICATIONS MEDIA TECHNOLOGY Broadband Voice SMS Content provision Payment solutions Micro- Insurance Digital Banking Internet Of Things E-Commerce E-Learning

7 4. Customer Experience Focus on SelfCare and value delivery Increased Customer Self-Care Options & Applications Improved Automation Quality of Service We have Empowered our customers with enhanced SelfCare options Automation and optimization of key customer processes Net Promoter Score % (Q-o-Q) 32 7% 39 9% 48 Q Q Q4 2016

8 5. EcoCash & Broadband Operational Highlights Sustained growth EcoCash Customers (Millions) EcoCash Agents (Thousands) FY 2013 FY 2014 FY 2015 FY 2016 FY FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 Broadband Customers (Millions) Broadband Revenue Growth (Millions) FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017

9 6. Stakeholder Value Creation Actively engage, manage & grow stakeholder value

10 7. Impact in our Community Investment that transforms lives

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12 1. Financial Highlights Creating value under difficult circumstances Total Revenue (US$ m) Data Revenue (US$ m) EcoCash Revenue (US$ m) EBITDA (US$ m) CAPEX (US$ m) Cashflow from operations (US$m)

13 2. Revenue Highlights Sustaining stakeholder value Revenue (US$ m) Revenue Composition Data & EcoCash Growth ARPU (US$) Revenue Movement (US$ m) Data & EcoCash Contribution

14 3. Data Revenue Sustained broadband growth Data Subscribers (m) Data Revenue (US$ m) Data Contribution Industry Data Traffic (GB) Data Traffic Market Share Data Traffic Split Source: POTRAZ Q4.16 report Source: POTRAZ Q4.16 report

15 4. EcoCash Revenue Creating value and convenience through financial inclusion EcoCash Subscribers (m) EcoCash Revenue (US$ m) EcoCash Revenue Contribution EcoCash Market Share EcoCash Transaction Values (U$bn) EcoCash Agents (Thousands)

16 5. Total Costs Continued cost optimisation Total Costs (US$ m) Costs Contribution 407

17 6. Profitability Reduced profitability in a tough environment EBITDA (US$ m) EBITDA Margin (%) PAT (US$ m) % 36

18 % 15% 10% 5% 0% 7. Capital Investment Constrained CAPEX in a challenging environment CAPEX (US$ m) Depreciation (US$ m) FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017

19 8. Borrowings Innovative solutions in a challenging environment Debt Evolution (US$ m) Debt to Equity % Net Finance Cost (US$ m) FY 2015 FY 2016 FY 2017 FY 2015 FY 2016 FY 2017 FY 2015 FY 2016 FY 2017

20 9. Conclusion Key Priorities REVENUE FINANCIAL POSITION Market leadership through resilience and innovation Sustained Broadband and EcoCash growth Revenue diversification COSTS Maintaining a strong balance sheet post the rights offer CAPEX Continued cost optimisation critical to maintain and grow profits as well as sustain margins CASH Continuously improving network quality and capacity Continued effective cash flow management

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22 Looking Ahead We LOOK UP the future of Zimbabwe is bright! Business Perfomance Business perfomance Funding Technology Funding Stakeholders Defend core revenues and build emerging revenue streams Leveraging strong business relationships and balance sheet to fund growth Consistent pioneering spirit in technological advancement Proactively and productively engage, collaborate and liaise with regulators and other stakeholders

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