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CONNECTING PEOPLE, POWERING GROWTH Q 3 2 0 2 6 R E S U L T S 5 N O V E M B E R 2 0 2 6
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Always use & instead of and. 2 HELIOS TOWERS Q3 2026 RESULTS Manjit Dhillon CFO & HT Oman Executive Chair Helios Towers team today Tom Greenwood CEO Chris Baker-Sams Head of Investor Relations & Strategic Finance
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HELIOS TOWERS INVESTMENT THESIS Multi-decade growth runway World-class platform Robust business model Disciplined and flexible capital allocation
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AGENDA 1x 2x 3x Highlights Q&A Financial results 01 03 02
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Q3 2026 HIGHLIGHTS Q 3 2 0 2 6 R E S U L T S 5 N O V E M B E R 2 0 2 6
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Q3 Highlights – firmly in the compounding sweet spot – record growth, increasing ROIC and expanding shareholder returns HELIOS TOWERS Q3 2026 RESULTS 6 • +3,435 YTD tenancy additions, including 942 sites • +0.1x YoY tenancy ratio expansion to 2.3x • Record tenancy pipeline driven by accelerating capex by our customers across our markets • +13% YoY Q3 YTD Adj. EBITDA growth to $392m • +10% YoY Q3 YTD RFCF increase to $134m1 • Q3 YTD discretionary capex of $173m • +0.4ppt YoY ROIC expansion to 14.2% • YoY net leverage reduction of -0.2x YoY to 3.4x • $48m share buyback2 year- to-date, with authorisation increased $100m to $175m3 • Inaugural interim dividend of 0.604p per share ($8m total) paid, with $25m of dividends expected for fiscal FY 264 • c.4,000 tenancy adds (prior: +3,500–4,000) • c.$535m Adj. EBITDA (prior: $520m–$535m) • >$235m RFCF (prior: $220m–$235m) • $230m–$245m disc. capex (prior: $215m–$245m) • >$80m of buybacks and dividends attributable to FY 26 (prior: $76m)4 Financial performance highly correlated to tenancy growth Accelerating shareholder returns Record tenancy demand FY 26 guidance tightened upwards Structural growth and high ROIC opportunities underpinned by record $6.2bn contracted revenues with blue-chip customers and an average remaining initial life of 6.4 years 02 0301 04 1. Slower growth than Adj. EBITDA driven by typical variations in timing of customer payments. 2. Reflects Q3 YTD. Since launching the programme on 6 November 2025, the company has repurchased $72m up to 30 September 2026. 3. Board authorisation extended by one year to December 2027. 4. Reflects >$55m share buyback in 2026 and $25m FY26 dividend. Dividend expected to be paid 1/3 in FY 26 in respect of the interim FY26 dividend and 2/3 in H1 27 in respect of the final FY 26 dividend.
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54 105 146 178 205 227 241 283 370 421 471 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 guidance Resilient and robust business model underpins structural growth 7HELIOS TOWERS Q3 2026 RESULTS +23% CAGR Adj. EBITDA1 (US$m) 1. Adj. EBITDA is defined by management as profit/(loss) before tax for the year, adjusted for finance costs, other gains & losses, finance income, loss/(gain) on disposal of property, plant & equipment, amortisation of intangible assets, depreciation of property, plant & equipment, depreciation of right-of-use assets, deal costs not capitalised, share-based payments & long-term incentive plan charges, & other adjusting items. Other adjusting items are material items that are considered one-off by management by virtue of their size and/or incidence. Over ten years of consistent tenancy and Adj. EBITDA growth through volatile Global events c.535 (Prior: 520–535) Global volatility Covid-19 US tariffs Global inflation & rate rises Oil price shocks, US/ China trade Brexit Iran conflict
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2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Europe US Africa Latam Asia Consensus Mobile operator investment in Africa is expected to grow materially faster than the rest of the world 8 1. Capex estimates by region reflect the following operators: Africa: Airtel Africa, MTN, Vodacom, Orange (MEA estimates only). Europe: BT, Deutsche Telekom (excl. T Mobile), Telefonica (excl. Brazil), Telecom Italia, Telenor, Telia, Swisscom, Proximus, Orange, KPN. USA: T-Mobile, AT&T, Verizon. LATAM: Millicom, Telefonica (Brazil), America Movil, TIM Brazil. Asia: China Mobile, China Telecom, NTT, KDDI, Vodafone Idea, Bharti, SK Telecom, Telkom Indonesia, XLSmart, Singtel, Celcom Digi, Maxis. Source: Factset, with MS Estimates used for regional capex for Orange, Telefonica and Deutsche Telekom, data compiled 30 October 2026. 2. Regional comparisons reflect the listed operator basket and exclude potential investment by new market entrants. Africa +50% USA +4% Europe (14%) ASIA (9%) LATAM (7%) Mobile operator capex1 (reported & consensus) Indexed HELIOS TOWERS Q3 2026 RESULTS FY 29 vs. FY 252
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Demographics and data consumption will drive mid-single-digit TAM growth through 2040 HELIOS TOWERS Q3 2026 RESULTS A&ME Macro (FY 25–FY 40) A&ME Mobile (FY 25–FY 40) +600m1 increase in population (+33%) +800m1 more unique mobile subscribers (+43%) 65%1 below 30 years old +4%2 real GDP CAGR +15%3 increase in penetration +12x4 increase in data consumption +72k total addressable market tenancies growth forecast5 – c.2x the Helios Towers footprint today 9 1. FTI Consulting analysis, accessed June 2026. Population, unique mobile subscribers and under-30 population growth projections for Africa & the Middle East between FY 25 and FY 40. 2. Real GDP CAGR between FY 25 and FY 40, calculated on a site weighted basis, using Q3 26 site count, IMF World Economic Outlook (April 2026). 3. FTI Consulting analysis, accessed June 2026. Increase in mobile internet subscriptions per person reflecting growth between FY 25 and FY 40 for our markets, calculated on a site weighted basis, using Q3 26 site count. 4. FTI Consulting analysis, Omdia, World Bank Data Hub, accessed June 2026. Increase in mobile data consumption between FY 25 and FY 40 for our markets, calculated on a site weighted basis, using Q3 26 site count. 5. FTI Consulting analysis, accessed June 2026. Total addressable market tenancy growth in our nine markets between FY 25 and FY 40.
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>9% Adj. EBITDA (CAGR 2025-30)2 >30% incremental ROIC3 on historical growth capex (2023-25) IMPACT 2030 – Disciplined and flexible capital allocation framework – with >$1.3bn recurring free cash flow1 targeted FY 26–30 HELIOS TOWERS Q3 2026 RESULTS 10 01 Optimised organic investments Capital efficient investments accretive to ROIC >$500m 02 Strong balance sheet Continued deleveraging 2.5–3.5x 03 Attractive investor distributions Combination of buyback and growing dividend >$400m 1. Recurring free cash flow is defined as portfolio free cash flow less net payment of interest and net change in working capital. It is a measure of the Company’s cash flow generation available for (i) discretionary capital expenditure and other exceptional items, and (ii) capital providers and/ or future investments. 2. Reflects expected capital allocation, net leverage and Adjusted EBITDA growth targets to FY 30, as presented at the Company’s Capital Markets Day in November 2025. 3. Calculated as sum of organic PFCF ($112m) expansion across FY 23–FY 25 divided by sum of growth capex ($316m) across FY 23–FY 25. IMPACT 2030 target2 Optimised organic investments deliver highly accretive growth for our business: Our capital allocation priorities:
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FY 25 Actual FY 26 Guidance FY 27 Initial expectations Tenancy additions +2,538 c.4,000 (+13%) >3,000 Adj. EBITDA $471m c.$535m (+14%) >10% Net leverage 3.4x Deleveraging Deleveraging Share buyback1 $24m >$55m $175m cumulative2 Dividend3 - $25m +10% Accretive growth, accelerating shareholder returns and further deleveraging expected to continue into FY 27 HELIOS TOWERS Q3 2026 RESULTS 11 1. The Board has authorised up to US$175m in buybacks through December 2027. By 30 September 2026, US$72m had been allocated since the programme launched in November 2025. 2. Cumulative share buybacks represent total authorised purchases since the programme launched in November 2025 and 31 December 2027. 3. Dividend expected to be paid 1/3 in FY 26 in respect of the interim FY26 dividend and 2/3 in H1 27 in respect of the final FY 26 dividend.
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FINANCIAL RESULTS Q 3 2 0 2 6 R E S U L T S 5 N O V E M B E R 2 0 2 6
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Tenancies (#) Structural tailwinds and market leadership driving tenancy growth HELIOS TOWERS Q3 2026 RESULTS 14,452 15,997 12,586 14,449 4,493 4,933 Q3 25 Q3 26 Q3 25 Q3 26 6,539 6,937 5,467 6,076 2,615 2,675 Q3 25 Q3 26 +7% +12% +0.1x 2.2x 2.3x • Site additions +1,067 YoY (+942 YTD) • Highly selective approach through our capital allocation committee to new site rollout – including day-1 ROIC threshold and high lease- up potential • Record tenancy additions +3,848 YoY (+3,435 YTD) • YoY growth driven by DRC (+1,262), Tanzania (+901), Malawi (+489) and Oman (+440) • Tenancy ratio +0.1x YoY • South Africa delivered the fastest pace of lease-up (+0.2x), while Tanzania, DRC, Oman and Ghana each achieved (+0.1x) East & West Africa Central & Southern Africa Middle East & North Africa 13 Tenancy ratio (x) Sites (#) 31,531 35,379 15,68814,621
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• 69% revenue in hard currency, with 70% Adj. EBITDA in hard currency, further protected through CPI/ power escalators • c.70% revenues from investment grade customers1 and 100% from blue-chip operators • Contracted revenues of $6.2bn with an average remaining initial life of 6.4 years Revenue commentary Revenue growth driven by tenancy additions, underpinned by contracted revenues with multinational customers HELIOS TOWERS Q3 2026 RESULTS 14 Revenue (US$m) +17% 88 100 109 132 19 20 Q3 25 Q3 26 252 216 East & West Africa Central & Southern Africa Middle East & North Africa 1. Investment grade customers include Airtel Africa, Vodacom, Orange and Omantel. • Customer contracts have power escalators/ de- escalators that have proven effective historically • The escalators are tied to local prices, which typically adjust more progressively than global prices Refresher: Power price protections
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120 135 17 0 (1)0 Q3 25 Organic tenancy growth Power CPI/ Non-power FX Q3 26 216 252 24 11 3 (2) Q3 25 Organic tenancy growth Power CPI FX Q3 26 Adj. EBITDA growth is highly correlated to tenancy additions and resilient to FX, CPI and power price movements HELIOS TOWERS Q3 2026 RESULTS 15 Q3 26 YoY revenue walkthrough1, 2 (US$m) Q3 26 YoY Adj. EBITDA walkthrough1 (US$m) +14% 0% 0% $ +13%+17% $ 3 4 +5% +1% (1%) (1%)+11% 1. Figures may not sum due to rounding. 2. Revenue impact for CPI and power reflects increase in Q3 26 revenues from respective escalations effected since the beginning of Q3 26. Revenue impact from Fx reflects the YoY Fx translation impact from local currency and euro-pegged revenues into US dollars. 3. Calculated as escalations from power-linked revenues less year-on-year changes in power opex assuming Q3 26 power opex per site using HT’s Q3 25 average site count. 4. Calculated as escalations from CPI-linked revenues less year-on-year changes in non-power opex and SG&A assuming Q3 26 non-power opex per site using HT’s Q3 25 average site count. Driven by power price escalations in DRC, offsetting power opex. Results in -2ppt margin reduction, with no impact to Adj. EBITDA $. Key driver of Adj. EBITDA growth.
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Capex overview Disciplined capex deployment (US$m) Well-invested platform supports high incremental returns from capex HELIOS TOWERS Q3 2026 RESULTS • Q3 YTD 26 disc. capex of $173m, reflecting +3,435 tenancies (including +942 sites) • Bottom end of disc. Capex FY 26 guidance uplifted by $15m to $230m-$245m, reflecting tenancy guidance increasing to the high-end • Incremental growth capex announced at Q1 and H1 results of $100m expected to deliver >25% ROIC • Non-disc. capex guidance unchanged at c.$50m • Buybacks and dividends1 increased to >$80m for FY 26 (prior: $76m) 16 1. Reflects >$55m share buyback in 2026 and $25m FY26 dividend. Dividend expected to be paid 1/3 in FY 26 in respect of the interim FY26 dividend and 2/3 in H1 27 in respect of the final FY 26 dividend. 23 50 159 230–24514 280- 295 Q3 26 YTD FY 26 guidance Non-disc. Growth Upgrade 196 280–295 Discretionary:
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Debt maturity profile extended (US$m) Strong balance sheet1 80 850 500 180 FY 26 FY 27 FY 28 FY 29 FY 30 FY 31 FY 32+ Strong balance sheet with $500m of available cash and undrawn debt facilities HELIOS TOWERS Q3 2026 RESULTS Convertible bond4 Senior Notes Group facilities: Oman facilities5 1. Group figures are as of 30 September 2026. 2. Helios Towers cost of debt calculated on a weighted basis utilising drawn debt. 3. Undrawn debt includes Oman and Group facilities. Also includes $250m Term Loan raised on 5 May 2026. 4. The convertible bond is accounted for as a compound instrument, with $148m considered as liability and $32m an equity component before transaction costs and excluding accrued interest. 5. Oman facilities feature principal amortisation through 2026 and beyond. These amounts are largely immaterial compared to the Group’s total debt and therefore have not been disclosed. 17 6.7% Group cost of debt2 3.3yrs weighted average debt maturity 3.4x net leverage, down 0.2x YoY $250m 3yr Term Loan raised in May 2026 to manage convertible bond maturity and general corporate purposes >$500m in available cash and undrawn debt facilities3
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FY 25 Actual FY 26 Guidance IMPACT 2030 Targets Targeted completion4 (%) Tenancy additions +2,538 c.4,000 (+13%) >10,000 (>6% CAGR) Adj. EBITDA $471m c.$535m (+14%) >9% CAGR RFCF $208m >$235m (>13%) >$1.3bn cumulative3 Disc. capex1 $138m $230m–$245m >$500m cumulative Shareholder distributions $24m >$80m2 >$400m cumulative Tracking ahead of IMPACT 2030 targets in first year of strategy HELIOS TOWERS Q3 2026 RESULTS 18 1. Disc. refers to discretionary capex that includes acquisitions, growth and upgrade capex. 2. Reflects >$55m share buyback in 2026 and $25m FY26 dividend. Dividend expected to be paid 1/3 in FY 26 in respect of the interim FY26 dividend and 2/3 in H1 27 in respect of the final FY 26 dividend. 3. Cumulative RFCF and capex between 2026–2030 inclusive. 4. Completion percentages reflect progress towards 2026–2030 cumulative targets, disc. capex based on the midpoint of FY 26 guidance. For shareholder distributions, FY 25 actuals plus the FY 26 guidance are used. 25% 48% >26% >18% 40%
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Key takeaways Firmly in the cash compounding sweet spot: Growing recurring free cash flow and improving ROIC on our established platform, supporting investment in all high-return opportunities while increasing shareholder distributions and improving financial flexibility. Operational excellence and customer service delivery underpin an exceptional year for tenancy additions as MNO investment accelerates FY 26 guidance tightened upwards reinforcing confidence in our growth trajectory, with a strong tenancy pipeline developing into FY 27 19
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Q&A Q 3 2 0 2 6 R E S U L T S 5 N O V E M B E R 2 0 2 6
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INVESTOR RELATIONS HELIOS TOWERS Q3 2026 RESULTS Upcoming IR events 18 November Morgan Stanley European Technology, Media & Telecom (TMT) Conference (Barcelona) 19 November Bank of America Non-deal roadshow (Paris) 23 November Jefferies Global Emerging Markets (GEMS) Conference (Dubai) 30 November Berenberg European Conference (London) Mike Allison Strategic Finance & Investor Relations Manager mallison@heliostowers.com Chris Baker-Sams Head of Strategic Finance & Investor Relations cbaker-sams@heliostowers.com IR Contact 21
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APPENDIX Q 3 2 0 2 6 R E S U L T S 5 N O V E M B E R 2 0 2 6
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Operational & Financial highlights 23HELIOS TOWERS Q3 2026 RESULTS YoY In US$m, unless otherwise stated Q3 26 YTD Q3 25 YTD Change Tenancies (#) 35,379 31,531 +12% Tenancy ratio (x) 2.26x 2.16x +0.10x Adj. EBITDA1 392.2 345.6 +13% Operating profit 259.1 211.2 +23% Return on invested capital (ROIC) (%)1 14.2% 13.8% +0.4ppt Recurring free cash flow2 133.7 121.3 +10% Net leverage (x)1,3 3.4x 3.6x -0.2x 1. Alternative Performance Measures are described in our defined terms and conventions. 2. Recurring free cash flow is defined as portfolio free cash flow less net payment of interest and net change in working capital. It is a measure of the Company’s cash flow generation available for (i) discretionary capital expenditure and other exceptional items, and (ii) capital providers and/ or future investments. 3. Calculated as per the Senior Notes definition of net debt divided by annualised Adjusted EBITDA.
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24HELIOS TOWERS Q3 2026 RESULTS # MNOs1 Mobile Penetration2 Unique mobile Subs CAGR2 (FY 25–FY 30) PoS Growth CAGR4 (FY 25–FY 30) Mobile data traffic multiple3 (FY 25–FY 40) Towers held by MNOs5 Credit ratings6 Credit ratings momentum7 Tanzania 4 47% 5% 4% 15x 0.7k B1(St)/NR/B+(+ve) Senegal 3 52% 5% 8% 16x 2.6k Caa2(-ve)/CC(-ve)/NR Malawi 2 37% 4% 9% 4x 0.5k NR/NR/NR -- East & West Africa 3 47% 5% 6% 13x 3.8k -- -- DRC 4 34% 6% 11% 26x 1.9k B3(St)/B-(+ve)/NR Congo B 2 35% 7% 8% 16x 0.5k Caa2(+ve)/CCC+(St)/CCC+ Ghana 3 59% 3% 5% 8x 0.0k B3(St)/B-(St)/B(+ve) South Africa 5 67% 2% 2% 7x 9.5k Ba2(+ve)/BB(+ve)/BB-(St) Madagascar 3 45% 2% 8% 21x 0.6k NR/B-(St)/NR Central & So. Africa 4 43% 5% 9% 20x 12.5k -- -- Oman 3 80% 6% 5% 17x 3.2k Baa3(St)/BBB-(St)/ BBB-(St) Middle East & N. Africa 3 80% 6% 5% 17x 3.2k -- -- Group 3.4 51% 5% 7% 16x 19.5k Ba3(St)/BB-(St)/BB-(St)(8) Rating upgrade from one of the agencies Outlook upgrade from one of the agencies No change in ratings/ outlook Outlook downgrade from one of the agencies Rating downgrade from one of the agencies Market overview – macro & industry snapshot 1. Excludes MNOs with negligible market share. Group/ segment figures weighted based on Q3 26 site count. 2. GSMA Intelligence Database, accessed January 2026. Group/ segment figures weighted based on Q3 26 site count. Mobile penetration refers to market penetration, unique mobile subscribers. 3. Data traffic multiple in our markets between FY 25 and FY 40 indexed on a site weighted basis, using Q3 26 site count. FTI Consulting analysis, Omdia, World Bank Data Hub, accessed June 2026. 4. Data sourced from FTI Consulting, March 2026, with Group/ segment figures weighted based on Q3 26 site count. 5. Analysys Mason, February 2024. Towers held by MNOs reflects marketable towers held by MNOs across our markets. In South Africa, towers held by Mast are included. 6. Credit ratings as of 20th October 2026 in the order of Moody’s, S&P and Fitch. 7. Refers to change in credit ratings from the positions on 31st December 2024. 8. Helios Towers’ credit ratings.
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Q3 2026: sites and tenancies 25HELIOS TOWERS Q3 2026 RESULTS Sites Tenancies Tenancy ratio Population coverage Q3 25 Q2 26 Q3 26 YoY QoQ Q3 25 Q2 26 Q3 26 YoY QoQ Q3 25 Q2 26 Q3 26 YoY QoQ Q3 26 Tanzania 4,251 4,302 4,377 126 75 11,010 11,742 11,911 901 169 2.59x 2.73x 2.72x 0.13x (0.01x) 47m Senegal 1,464 1,505 1,514 50 9 1,727 1,819 1,882 155 63 1.18x 1.21x 1.24x 0.06x 0.03x 14m Malawi 824 935 1,046 222 111 1,715 2,008 2,204 489 196 2.08x 2.15x 2.11x 0.03x (0.04x) 16m East & West Africa 6,539 6,742 6,937 398 195 14,452 15,569 15,997 1,545 428 2.21x 2.31x 2.31x 0.10x 0.00x 77m DRC 2,751 2,954 3,102 351 148 7,380 8,364 8,642 1,262 278 2.68x 2.83x 2.79x 0.10x (0.04x) 38m Congo B 554 554 555 1 1 935 968 983 48 15 1.69x 1.75x 1.77x 0.08x 0.02x 4m Ghana 1,100 1,099 1,106 6 7 2,613 2,681 2,744 131 63 2.38x 2.44x 2.48x 0.11x 0.04x 19m South Africa 385 388 388 3 0 763 840 856 93 16 1.98x 2.16x 2.21x 0.22x 0.04x 13m Madagascar 677 867 925 248 58 895 1,145 1,224 329 79 1.32x 1.32x 1.32x 0.00x 0.00x 13m Central & Southern Africa 5,467 5,862 6,076 609 214 12,586 13,998 14,449 1,863 451 2.30x 2.39x 2.38x 0.08x (0.01x) 87m Oman 2,615 2,666 2,675 60 9 4,493 4,888 4,933 440 45 1.72x 1.83x 1.84x 0.13x 0.01x 4m Middle East & North Africa 2,615 2,666 2,675 60 9 4,493 4,888 4,933 440 45 1.72x 1.83x 1.84x 0.13x 0.01x 4m Group 14,621 15,270 15,688 1,067 418 31,531 34,455 35,379 3,848 924 2.16x 2.26x 2.26x 0.10x 0.00x 168m
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Disclosed average daily traded volume is approaching $10m 26 1. FactSet aggregate trading volume across LSE, Cboe Europe (BXE and CXE), MTFs (Turquoise, Instinet BlockMatch and Liquidnet), Cboe EU trade reporting service and German venues ( Tradegate and Munich), accessed October 2026. ADTV (US$m) HELIOS TOWERS Q3 2026 RESULTS 0 2 4 6 8 10 12 Jan-23 Jan-24 Jan-25 Jan-26 All disclosed volumes LSE 1
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Disclaimer 27HELIOS TOWERS Q3 2026 RESULTS This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire or dispose of securities in Helios Towers plc (the "Company") or any other member of the Helios Towers group (the “Group”), nor should it be construed as legal, tax, financial, investment or accounting advice. This presentation contains forward looking statements which are subject to known and unknown risks and uncertainties because they relate to future events, many of which are beyond the Group’s control. These forward looking statements include, without limitation, statements in relation to the Company’s financial outlook and future performance and related projections and forecasts. No assurance can be given that future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Group. You are cautioned not to rely on these forward looking statements, which speak only as of the date of this announcement. The Company undertakes no obligation to update or revise any forward looking statement to reflect any change in its expectations or any change in events, conditions or circumstances. Nothing in this presentation is or should be relied upon as a warranty, promise or representation, express or implied, as to the future performance of the Company or the Group or their businesses. This presentation also contains industry, market and competitive position data and forecasts from our own internal estimates and research as well as from studies conducted by third parties, publicly available information, industry and general publications and research and surveys. This information involves a number of assumptions and limitations, and you are cautioned not to give undue weight to these estimates, as there is no assurance that any of them will be reached. Industry publications, research, surveys and studies generally state that the information they contain has been obtained from sources believed to be reliable, but that the accuracy and completeness of such information is not guaranteed. Forecasts and other forward-looking information obtained from these sources and from our and third party estimates are subject to the same qualifications and uncertainties as the other forward-looking statements in this presentation and as described above. This presentation also contains non GAAP financial information which the Directors believe is valuable in understanding the performance of the Group. However, non GAAP information is not uniformly defined by all companies and therefore it may not be comparable with similarly titled measures disclosed by other companies, including those in the Group's industry. Although these measures are important in the assessment and management of the Group’s business, they should not be viewed in isolation or as replacements for, but rather as complementary to, the comparable GAAP measures.