Interim report
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SAFARICOM PLC RESULTS BOOKLET UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2026
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SAFARICOM PLC RESULTS BOOKLET 2 Contents 1. KEY PERFORMANCE INDICATORS a. Safaricom Group 1 1 b. Safaricom Kenya 12 c. Safaricom Telecommunications Ethiopia (STE) 13 2. FINANCIAL STATEMENTS a. Consolidated statement of comprehensive income 14 b. Consolidated statement of financial position 15 c. Consolidated Statement of changes in Equity 16 d. Consolidated Statement of cash flows 18 e. Income Statement for Safaricom Group, Kenya and Ethiopia 19 04 KEY HIGHLIGHTS PETER NDEGWA, GROUP CEO’S MESSAGE 05 08 DILIP PAL, GROUP CFIO’S MESSAGE
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SAFARICOM PLC RESULTS BOOKLET 3 3. SUPPLEMENTARY INFORMATION A. Accounting Policies 20 a) Basis of preparation 20 b) Measurement basis 20 c) Change in Accounting Policy - Deferred SIM Costs and Connection Revenue 20 d) Translation of foreign operations 20 B. Safaricom Group 21 a. Connectivity Revenue 21 b. Fixed Service and IoT Revenue 21 c. Direct Costs 21 d. Other Operating Expenses 22 e. Net Debt 22 f. Normalised growth 22 C. Safaricom Kenya 23 a. Direct Costs 23 b. Other Operating Expenses 23 c. Free cash flow 24 d. Finance Income & Cost 24 D. Safaricom Telecommunications Ethiopia (STE) Plc 25 a. Revenue (KShs & ETB) 25 b. Direct Costs (KShs & ETB) 25 c. Other Operating Expenses (KShs & ETB) 26 d. Safaricom Ethiopia Consolidated summarised statement of financial position 26 e. Funding of Safaricom Ethiopia 27 f. Safaricom Ethiopia Shareholding Update 27 g. Unwinding Impact of IAS 29 Reporting 27 4. ADDITIONAL DISCLOSURES ON SAFARICOM KENYA PERFORMANCE A. Financial Services/M-PESA 28 a) M-PESA Revenue, Values And Volumes 28 b) Business Payments 30 c) Financial Services 31 d) Global Payments 32 B. Connectivity Business 33 C. Fixed Service & IoT 34 5. APPENDIX 37 6. GLOSSARY a. Consolidated statement of comprehensive income – Safaricom Group 35 b. Statement of consolidated – Safaricom Telecommunications Ethiopia (STE) Plc (in KShs & ETB) 36
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SAFARICOM PLC RESULTS BOOKLET 4 Safaricom Kenya Performance Safaricom Group Performance Safaricom Telecommunications Ethiopia (STE) Performance Service revenue grew 11.3% YoY to KShs 215.96Bn. Connectivity revenue grew 7.7% to KShs 103.38Bn. Fixed Service and IoT Revenue grew 25.5% YoY to KShs 12.51Bn. M-PESA revenue grew 13.6% YoY to KShs 100.07Bn. EBIT grew 13.7% to KShs 101.81Bn. One-month Active ARPU grew 3.9% to KShs 890.12 Net Income grew 13.8% to KShs 66.27Bn. Operating Free Cash Flow rose by 19.6% to KShs 85.31Bn. One-month Active Customers grew 7.1% YoY to 40.61Mn. One-month Active M-PESA Customers grew 11.6% YoY to 42.31Mn. Key Highlights Service revenue grew 13.1% YoY to KShs 226.06Bn. Connectivity revenue grew 11.5% to KShs 113.60Bn. One-month active customers grew 13.7% YoY to 52.81Mn. Net income excl. minority interest grew 35.9% YoY to KShs 58.15Bn. Three-month active customers grew 22.3% YoY to 78.99Mn. EBIT grew 39.8% YoY to KShs 91.14Bn. Fixed service and IoT revenue grew 25.4% YoY to KShs 12.38Bn. M-PESA revenue grew 13.6% YoY to KShs 100.08Bn. Service revenue grew 71.6% YoY to KShs 10.62Bn. Mobile incoming revenue grew 11.3% YoY to KShs 0.36Bn Voice revenue grew 20.9% YoY to KShs 1.66Bn. Messaging revenue grew 72.9% YoY to KShs 0.13Bn. Mobile data revenue grew 90.2% YoY to KShs 7.85Bn. Three-month active customers grew 38.4% to 15.43Mn. One-month active customers grew 43.4% to 12.20Mn. EBITDA loss declined by 96.5% to KShs 434.4Mn. M-PESA revenue grew 15.7% YoY to KShs 0.01Bn Fixed service revenue grew 109.7% to KShs 0.20Bn.
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SAFARICOM PLC RESULTS BOOKLET 5 Peter Ndegwa, Safaricom Group CEO commented Operating and Strategic Context We delivered a strong performance in the first half of the year, reflecting the resilience of our business, the continued trust of our customers and focused execution of our Vision 2030 strategy. The Kenya business maintained positive momentum and continued to provide the financial strength required to invest in our network, technology platforms and future growth. In Ethiopia, stronger customer demand, increased network utilisation and improving operational execution are translating into better operating leverage and reinforcing our confidence in the long-term opportunity. We achieved this performance in a dynamic environment characterised by continued pressure on household incomes, intensifying competition, rapidly evolving technology and ongoing economic and regulatory reforms across our two markets. These conditions required us to remain close to our customers, respond to their changing needs and maintain discipline in our execution and capital allocation. Our strategy is anchored on strengthening our core connectivity and payments businesses while building the next growth engines across financial services, technology solutions and Ethiopia. Vision 2030 is guiding our transition into Africa’s leading purpose-led technology company. Connectivity and payments remain the foundation of our business, while technology platforms, data, artificial intelligence and partnerships enable us to address more customer and societal needs and create new sources of value. Artificial intelligence is becoming an important enabler of our transition into a purpose-led technology company. We are applying AI to personalise propositions, simplify customer journeys, strengthen fraud prevention and credit decisioning, and improve operational efficiency. GenAI-powered ZURI is expanding intelligent self-service across multiple channels, while the People, AI, Capability & Excellence (PACE) learning program is building AI fluency across our organisation. As we scale these capabilities, we will maintain strong safeguards for privacy, security, fairness, transparency and human oversight. Purpose, People and Responsible Growth Purpose remains central to our strategy and to how we create long-term value. Our success is closely connected to the resilience of the customers, communities and economies we serve. Through our Foundations, business platforms and brand assets, we continued to invest in education, healthcare, digital inclusion, economic empowerment and sustainable livelihoods across Kenya and Ethiopia. Through Citizens of the Future, Chapa Dimba and Capture the Good, we are investing in education, talent and community opportunity. Citizens of the Future has completed upgrades at 47 schools, directly benefiting 35,000 learners and more than 1,500 teachers, while 261 senior-secondary scholars from all 47 counties joined the first cohort. Chapa Dimba provides development pathways for football talent, while Capture the Good enables creators to document and celebrate community impact across Kenya nationwide. Our technology-talent agenda also continued to grow. Decode is developing practical skills and providing students, developers and startups with access to Safaricom platforms and expertise. Spark supports startups through product collaboration, investor access and pathways to scale. Internally, we are extending AI capability across the organisation and developing a broader community of employees who can apply technology to real customer and business challenges.Together, these initiatives are strengthening technology capability within Safaricom and across the wider innovation ecosystem. They are helping us build a pipeline of employees, developers, entrepreneurs and partners who can apply technology to customer, business and societal challenges. In Ethiopia, the Safaricom Ethiopia Foundation is moving from establishment into delivery. Its programmes are focused on digital skills, connected youth centres, education, women’s economic empowerment, inclusive livelihoods, maternal health and disability inclusion. The emphasis is on working with government, development organisations and other partners to scale proven programmes and deliver measurable outcomes. Through our participation in the Fayda Digital ID programme, we are supporting efforts to expand access to official identity and, over time, to the public and private services that depend on it. This can help widen participation in financial services and the broader digital economy.
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SAFARICOM PLC RESULTS BOOKLET 6 Themes from our 15th Sustainable Business Report We are strengthening how sustainability is embedded in our strategy, moving beyond reporting activities to measuring the broader value and long-term impact we create. In FY26, we adopted a double materiality approach, strengthened impact measurement and early adopted IFRS S1 & S2 Standards. These changes are sharpening our focus on the issues that matter most to our stakeholders and the resilience of our business. Our activities generated over KShs 1.24 trillion in value for Kenyan society, sustained more than 1.4 million jobs and enabled our Foundations to reach over 4.4 million people. As we accelerate our transition to a purpose-led technology company, we remain focused on using connectivity, financial services, technology and partnerships to broaden access and opportunity, strengthen trust and ensure that inclusive growth translates into sustainable long-term value for our customers, communities, shareholders and society. Deepening Customer Relevance in Kenya In Kenya, our performance was supported by sustained customer growth and deeper use of our connectivity and financial-services platforms. Affordability remained an important consideration for households and businesses, and we continued to respond through personalised propositions, targeted offers and greater value across our portfolio. Mobile data maintained positive momentum as more customers adopted smartphones and 4G devices, consumed more data and accessed a growing range of digital services and content. Our continued investment in network quality, device partnerships and relevant propositions is helping more customers participate in the digital economy. Our objective is not simply to provide more data. We want connectivity to become increasingly useful in how customers work, learn, transact, access entertainment and manage their daily lives. This requires propositions that reflect different customer needs, usage patterns and affordability levels. Voice remained resilient and continues to play an important role in keeping customers connected. We supported the portfolio through targeted customer re-engagement, segmented propositions and call-completion solutions that help customers communicate where immediate affordability is constrained. Fixed connectivity also continued to grow as households and businesses sought reliable, high-speed broadband. We are accelerating fibre and fixed-wireless access while improving the utilisation and penetration of the infrastructure already deployed. Our fixed strategy is increasingly centred on convergence. We are developing propositions that bring together home broadband, mobile connectivity, digital content, security and improved in-home experiences. We are also testing more flexible access models to extend reliable broadband to a wider range of customers. Across the connectivity portfolio, we are using customer insights to provide more relevant value, lower barriers to digital participation and ensure that our network investments translate into better everyday experiences. Expanding M-PESA and Technology-led Growth M-PESA maintained strong momentum and remains central to both our growth and purpose. Payments remain the entry point, but FinTech 2.0 is enabling a broader platform for commerce and financial services. Its scalable, modular architecture strengthens reliability, fraud management and customer protection, while increasing processing capacity and enabling faster product development. We are using these capabilities to expand merchant services, credit, savings and investment, while developing further opportunities in insurance, global payments and digital commerce through simpler, more intelligent and connected customer journeys across the ecosystem. The new Fintech 2.0 platform is making innovation tangible through QR Codes, Scan-to-Pay and Tap-to-Pay, which simplify merchant checkout and reduce payment errors. Split Bills enables customers to share expenses digitally, while Shiriki Pay introduces shared- wallet journeys that extend M-PESA into collaborative management. The platform also delivers greater scale, supporting 6,000 transactions per second and three times the previous Fuliza throughput. This creates capacity for more payment occasions, faster innovation and deeper ecosystem engagement beyond transaction fees. At the same time, behavioural scoring and multiple funding partners are helping us extend responsible credit, personalise access and manage portfolio risk more effectively for customers and businesses across Kenya. We are complementing innovation with tariff reviews that pass value to customers and merchants. Lipa na M-PESA transactions up to KShs 500 were zero-rated, Transacting Till charges were reduced by 50%, and the Pochi la Biashara free-transaction threshold increased to KShs 200 under a promotional tariff. These changes lower payment friction, support low-value commerce and encourage funds to remain and circulate within the M-PESA ecosystem. Together with greater platform capacity, they protect everyday relevance while creating opportunities for deeper engagement. The expansion of Pochi la Biashara and Lipa na M-PESA demonstrates the opportunity within Kenya’s merchant economy. Our ambition is to help businesses move beyond accepting payments by enabling them to manage liquidity, reconcile collections, pay suppliers and bills, access working capital, build savings and grow their enterprises. Our wealth propositions are helping customers move from transactional money into invested money and develop stronger savings habits. We are also building insurance as a technology-enabled aggregator and marketplace, working with underwriters and partners to make protection more accessible through digital channels. The same technology and platform capabilities are broadening our relevance to enterprises and government. By combining connectivity, M-PESA, cloud, cybersecurity, digital identity and APIs, we are helping organisations connect operations, protect information, digitise workflows and embed payments. In the public sector, these capabilities support healthcare, digital public
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SAFARICOM PLC RESULTS BOOKLET 7 infrastructure, social protection, economic empowerment and agriculture. Across these growth areas, data and AI are helping us personalise propositions, simplify onboarding, improve decisions and reduce the cost of serving customers and institutions. Building Momentum in Ethiopia In Ethiopia, the foundation we have built is beginning to translate into stronger operating momentum. Customer growth remained strong, mobile-data demand continued to expand and the current network carried more customers, traffic and revenue. This progress validates the underlying demand in the market and strengthens our focus on improving monetisation and maximising returns from the assets already deployed. Mobile data remains the strongest demand engine, with usage proving resilient following pricing adjustments. The business is also operating more digitally. The rapid expansion of digital recharge through M-PESA and banking channels is simplifying distribution and reducing dependence on traditional physical channels. AI-supported KYC is improving the speed and accuracy of customer onboarding while reducing the resources required for routine verification. We are developing the M-PESA opportunity carefully and with measured expectations. Consumer adoption remains linked to the scale of our telecommunications customer base, making digital airtime distribution and the emerging merchant ecosystem the stronger near-term opportunities. The growing retailer base and early merchant-payment activity provide an initial foundation for broader merchant acceptance and collections. However, this opportunity remains at an early stage and will depend on continued execution and regulatory progress. Over time, interoperability, telecom-agnostic access and wider participation in government-payment flows will increase M-PESA’s relevance in the industry. These remain developing opportunities and are subject to the required regulatory approvals and market-access arrangements. We are also developing fixed-broadband and enterprise opportunities to diversify the revenue base and serve a wider range of customer needs. The combination of mobile data, fixed connectivity, enterprise solutions and digital financial services provides a broader platform for long-term growth. Our approach remains measured and execution-led. We are focused first on improving returns from the current footprint, strengthening operational efficiency and maintaining progress towards EBITDA break-even. The pace of this progress will continue to depend partly on pricing implementation, foreign-exchange conditions and disciplined execution. Update on the Vodacom - Government of Kenya Transaction On 4th December 2025, Vodacom Group announced a series of agreements to increase its effective interest in Safaricom by 20%. Vodacom group’s most recent update on this acquisition can be found here https://vodacom.com/pdf/sens/2026/stay-order- application-safaricom-16102026.pdf Conclusion and Outlook The first half demonstrates that our strategy is progressing. Kenya remains resilient, M-PESA is expanding into a broader commerce and financial-services ecosystem, and our fixed, enterprise and public-sector capabilities are deepening our relevance beyond traditional telecommunications. In Ethiopia, stronger customer and data momentum is improving the productivity of the existing footprint and supporting our progress towards EBITDA break-even. In the second half, we will focus on protecting and growing connectivity and payments, scaling merchant and financial-services propositions, accelerating fixed and enterprise technology solutions and maintaining execution discipline in Ethiopia. We will continue investing in network quality, technology platforms, data, AI, talent and partnerships. We will remain disciplined in our capital allocation, prioritising opportunities where customer demand is clear, where our capabilities provide meaningful differentiation and where the investment can generate sustainable returns. We will also continue investing in people, communities and the environment because the long-term strength of our business depends on the resilience of the societies and economies we serve. Vision 2030 is our commitment to build a stronger and more valuable Safaricom by connecting more people to opportunity and solving meaningful customer and societal needs. We enter the second half encouraged by our progress, clear about the opportunities ahead and focused on the work required to realise our ambition. Acknowledgment I would like to thank our customers for their trust and for choosing Safaricom to connect, transact and participate in the digital economy. I also thank our employees across Kenya and Ethiopia for their commitment, innovation and focused execution. Their dedication remains fundamental to the quality of service we provide and to the progress we are making under Vision 2030. We are grateful to our agents, dealers, suppliers, technology partners, financial institutions, development partners and other members of our ecosystem, whose contributions enable us to serve customers at scale. I also recognise the constructive engagement of governments, regulators and communities across our markets. Finally, I thank our Board and shareholders for their confidence and support. Together, we are building a more connected, financially inclusive and digitally enabled future while creating sustainable value for all our stakeholders.
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SAFARICOM PLC RESULTS BOOKLET 8 Business Review – Group Operating Environment Kenya’s macroeconomic environment remained resilient during the period despite inflation increasing from 4.4% in March 2026 to 6.8% in September 2026, reflecting higher energy costs from rising global fuel prices, while remaining within the CBK target range of 2.5%-7.5%. Economic growth strengthened, with GDP expanding by 5.1% in Q2 2026 compared to 4.9% in Q2 2025, while the Kenyan shilling remained broadly stable at approximately 129/USD. Although rising inflation placed pressure on household spending and affordability, the overall operating environment remained supportive of economic activity and investor confidence. Against this backdrop, Safaricom Kenya sustained its market leadership, maintaining a GSM customer market share of 69.8% as at June 2026, according to the Communications Authority of Kenya. In Ethiopia, inflation rose from 9.4% in March 2026 to 14.9% in September 2026, reflecting higher energy costs and broader inflationary pressures following the global oil price shock linked to the Middle East conflict. The Ethiopian Birr also depreciated by 4.3% against the US Dollar in HY27 to 163.39 as at 30 September 2026 and by 2.6% against the Euro to 185.59 over the same period. Despite these macroeconomic pressures, Ethiopia continued to make steady progress, increasing regulatory clarity and sustained customer growth. The business is increasingly transitioning into a more stable scaling phase, with growing scale, and early signs of a strengthening path toward profitability. Group Performance Review Service Revenue HY27 reflects another period of strong execution and resilient growth across the Group. Service Revenue rose 13.1% Y o Y to KShs 226.06Bn, underpinned by sustained performance in Kenya and continued improvement in Ethiopia. Financial Services/M-PESA, Connectivity Business and Fixed Service & IoT contributed 45.9%, 44.5% and 9.6%, respectively, to Group service revenue growth. This growth translated into improved profitability, supported by disciplined cost management and operational efficiencies, while strong cash generation continued to support investment in the business and shareholder returns. Customer engagement also deepened during the period, with total Group three-month active customers increasing by 22.3% Y o Y to 78.99Mn, while one-month active customers grew by 13.7% to 52.81Mn. 1. Financial Services/M-PESA Financial Services/M-PESA recorded revenue growth of 13.6% Y o Y to KShs 100.08Bn, accounting for 44.3% of Group service revenue, compared with 44.1% in HY26. One-month active M-PESA customers grew 11.7% Y o Y to 44.47Mn, compared with 39.82Mn in HY26. 2. Connectivity Business Connectivity revenue grew 11.5% Y o Y to KShs 113.60Bn, representing 50.3% of Group service revenue versus 51.0% in HY26. Mobile Data led with a 46.7% share of Connectivity revenue, compared with 38.6% for Voice Outgoing, growing 19.5% Y o Y to KShs 53.09Bn versus Voice 6.7% Y o Y growth to KShs 43.85Bn. Messaging declined 7.5% Y o Y to KShs 5.13Bn, while Mobile Incoming rose 5.5% to KShs 4.88Bn and Other Service Revenue grew 6.9% Y o Y to KShs 6.64Bn. 3. Fixed Service & IoT Fixed Service & IoT recorded the fastest growth among the three business categories, with revenue increasing 25.4% Y o Y to KShs 12.38Bn, accounting for 5.5% of Group service revenue, compared with 4.9% in HY26. Fixed Line and Wholesale Transit revenue increased 19.5% Y o Y to KShs 10.89Bn, while IoT revenue grew 17.1% to KShs 0.67Bn. 4. Profitability Safaricom Group maintained strong profitability momentum, with Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) growing by 27.5% Y o Y to KShs 129.18Bn and Earnings Before Interest and Tax (EBIT) increasing by 39.8% Y o Y to KShs 91.14Bn. Net income excluding minority interest rose by 35.9% Y o Y to KShs 58.15Bn, reflecting strong performance in Kenya alongside reduced losses in Ethiopia. Dilip Pal, Safaricom Group CFIO commented:
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SAFARICOM PLC RESULTS BOOKLET 9 Business Review – Kenya Service Revenue Service revenue maintained strong growth momentum, increasing by 11.3% Y o Y to KShs 215.96Bn, supported by sustained growth across key revenue streams. M-PESA revenue increased by 13.6% Y o Y to KShs 100.07Bn, contributing 54.7% to service revenue growth, while Connectivity revenue grew by 7.7% Y o Y to KShs 103.38Bn, contributing 33.7% to growth. Fixed Services and IoT revenue increased by 25.5% Y o Y to KShs 12.51Bn, contributing the remaining 11.6% to service revenue growth. Customer acquisition remained strong, with 90-day active customers increasing by 18.9% Y o Y to 63.56Mn, while one-month active customers grew by 7.1% Y o Y to 40.61Mn. 1. Financial Services/M-PESA M-PESA revenue grew 13.6% Y o Y to KShs 100.07Bn, driven by continued growth in both customers and usage. The number of one- month active customers rose 11.6% Y o Y to 42.31Mn, while the agent network expanded 10.0% to 351.16k, reinforcing M-PESA’s reach and accessibility across the country. Transactional momentum remained robust, with total transaction values increasing 16.6% to KShs 23.56Trn and volumes growing 25.2% to 27.38Bn. Growth was even stronger in chargeable transactions value and volumes, where values rose 19.0% to KShs 17.47Trn and volumes increased 48.2% to 12.86Bn, reflecting deeper customer engagement, increased usage across use cases, and continued monetization of the platform. Consequently, chargeable transactions per one-month active customer increased 31.5% Y o Y to 50.89. The merchant ecosystem continued to scale rapidly, with the merchant base growing 90.3% to 4.51Mn. This growth was largely driven by Pochi, whose customer base expanded 115.3% to 3.23Mn, while Lipa na M-PESA merchants increased 46.7% to 1.28Mn. Beyond payments, these solutions are increasingly positioning M-PESA as a platform that empowers small and micro-enterprises, enabling entrepreneurs to access a broader ecosystem of digital financial services and participate more effectively in the formal economy. Wealth management also gained significant traction, with AUM increasing 69.7% to KShs 25.56Bn, supported by the strong adoption of Ziidi, whose AUM grew 82.9% to KShs 23.36Bn. Beyond asset accumulation, wealth solutions are strengthening customer engagement, encouraging savings behaviour and enhancing long-term ecosystem participation, thereby supporting greater customer retention. M-PESA’s contribution to Kenya service revenue increased to 46.3%, up from 45.4% in HY26, underscoring its role as a key growth engine and highlighting the strength of its expanding payments, merchant, wealth, insurance and digital financial services ecosystem. 2. Connectivity Business The Connectivity Business recorded resilient growth, with revenue increasing 7.7% Y o Y to KShs 103.38Bn, accounting for 47.9% of Kenya service revenue, compared to 49.6% in HY26. Mobile Data remained the largest contributor to connectivity revenue, representing 43.8%, compared to 40.8% for voice revenue, reflecting sustained growth in data consumption driven by increasing smartphone adoption, digital content consumption, and demand for always-on connectivity. Messaging revenue declined 8.6% Y o Y while mobile incoming revenue grew 6.1% Y o Y to KShs 4.71Bn, supported by continued growth in network usage and connectivity demand. Mobile Data Mobile Data delivered strong growth, with revenue increasing 12.2% Y o Y to KShs 45.24Bn, supported by customer growth, rising usage and increased 4G+ device penetration. One-month active chargeable mobile data customers grew 11.6% Y o Y to 27.86Mn, driven by continued expansion of the 4G+ customer base through initiatives such as Tunukiwa Plus and targeted affordability interventions. Customers consuming more than 1GB per month increased 17.7% Y o Y to 15.21Mn, reflecting continued success in deepening internet adoption and encouraging higher-value usage. Usage momentum remained strong, with average data consumption per chargeable subscriber increasing 9.4% Y o Y to 5.31GBs. Growth was driven by expanding digital use cases and stronger content engagement, including increased consumption of video, gaming and sports content, alongside growth in giga users. Portfolio enhancements under the Patamore proposition further supported usage by delivering greater value and affordability to customers, contributing to increased internet penetration and engagement. As a result, rate per MB declined 10.8% Y o Y to 5.03 cents. Growth was further supported by continued smartphone adoption, with smartphones on the network increasing 24.6% to 35.79Mn. The number of 4G+ devices grew 33.5% Y o Y to 34.30Mn, comprising 32.32Mn 4G devices, up 32.5% Y o Y, and 1.98Mn 5G devices, up 51.9% Y o Y. The expanding base of advanced devices continues to strengthen the addressable market for data services and support sustainable growth in digital connectivity. Mobile Data now contributes 20.9% of total service revenue in Kenya. Voice and Messaging Voice revenue grew 6.2% Y o Y to KShs 42.20Bn, driven by customer growth, increased usage, and affordability-led customer engagement initiatives. One-month active customers increased by 4.1% to 31.45Mn, while minutes of use (MOU) per subscriber rose 11.9% Y o Y to 231.77 minutes, reflecting strong customer engagement. The outgoing rate per minute declined 9.5% Y o Y to KShs 0.94, reflecting the success of affordability-focused interventions and migration to bundled usage. These initiatives have helped strengthen customer engagement, defend our market share, and reinforce Safaricom’s leadership in the voice market.
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SAFARICOM PLC RESULTS BOOKLET 10 Messaging revenue declined 8.6% Y o Y to KShs 5.01Bn, driven by the continued migration of customer communications to IP-based and over-the-top (OTT) messaging platforms, a trend observed across the global telecommunications industry. As a result, messages per subscriber fell 22.9% Y o Y to 98.94. However, growth in the active customer base helped mitigate the decline, with one-month active messaging customers increasing 8.8% Y o Y to 25.86Mn, underscoring the continued relevance of SMS for both person-to- person and business communications despite evolving customer communication preferences. 3. Fixed Service & IoT Fixed Services and IoT revenue delivered strong double-digit growth of 25.5% Y o Y to KShs 12.51Bn, underpinned by accelerating customer acquisition, expanded network rollout, increased penetration, and growing adoption of 5G Fixed Wireless Access (FWA) solutions. Fixed service and wholesale transit revenue grew 19.7% Y o Y to KShs 11.02Bn, driven by a 19.9% increase in consumer revenue to KShs 5.17Bn, 17.3% growth in enterprise fixed revenue to KShs 4.94Bn, and a 34.4% rise in wholesale revenue to KShs 0.91Bn. IoT revenue increased by 17.1% Y o Y to KShs 0.67Bn. Revenue from Public Sector grew 4.3 times to KShs 820.1Mn. Fixed service customers increased by 31.8% Y o Y to 569.86k, supported by a 33.6% rise in FTTH customers to 474.42k and a 23.6% increase in enterprise fixed customers to 95.44k. FWA contributed 35.3% of total connection growth, with customers increasing 43.8% Y o Y to 159.40k, while fibre accounted for 64.7% of connection growth and grew 27.7% Y o Y to 410.46k, reflecting strong demand for high-speed, reliable connectivity solutions across households and businesses. Homes connected increased by 50.4% Y o Y to 925.84k, while homes passed grew 13.6% Y o Y to 907.57k, further strengthening Safaricom’s fixed connectivity footprint. Profitability Safaricom Kenya recorded strong profitability growth during the period, with Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increasing by 13.3% Y o Y to KShs 128.94Bn and Earnings Before Interest and Tax (EBIT) rising by 13.7% Y o Y to KShs 101.81Bn. Net income grew by 13.8% Y o Y to KShs 66.27Bn, supported by robust contributions from M-PESA and Mobile Data, continued expansion of the customer base, higher usage levels, and effective monetisation of services. Business Review – Ethiopia Service Revenue Service revenue maintained strong growth momentum, increasing by 71.6% Y o Y to KShs 10.62Bn, driven by robust customer acquisition, increased service adoption, and deeper market penetration across all revenue streams. Mobile Data remained the largest contributor, accounting for 74.0% of service revenue, up from 66.7% in HY26, while Voice contributed 15.6%. Mobile incoming revenue accounted for 3.4%, with Messaging, M-PESA and Fixed Services contributing the remaining 7.0%, reflecting the continued diversification of the revenue mix. Ethiopia contributed 16.8% to total Group service revenue growth during the period. Customer acquisition remained strong, with 90-day active customers increasing by 38.4% Y o Y to 15.43Mn and one-month active customers growing by 43.4% Y o Y to 12.20Mn. Voice and Messaging Voice revenue increased by 20.9% Y o Y to KShs 1.66Bn, supported by continued expansion of the customer base. One-month active voice customers grew by 32.2% Y o Y to 9.23Mn, while 90-day active voice customers increased by 31.5% Y o Y to 12.58Mn. Despite strong customer growth, usage moderated, with outgoing minutes of use per subscriber declining by 12.7% Y o Y to 127.33, while ARPU decreased by 11.5% Y o Y to KShs 30.53. Messaging revenue recorded strong growth of 72.9% Y o Y to KShs 128.26Mn, driven by an expanding customer base and improved usage levels. One-month active SMS customers increased by 3.1% Y o Y to 3.44Mn, while 90-day active SMS customers grew by 7.1% Y o Y to 6.15Mn. Customer engagement also strengthened, with SMS usage per subscriber rising by 2.3% Y o Y to 25.53. Mobile Data Mobile Data revenue maintained exceptional growth momentum, increasing by 90.2% Y o Y to KShs 7.85Bn, driven by robust customer demand, continued expansion of the active data customer base and sustained growth in data consumption. The one-month active mobile data customer base increased by 38.7% Y o Y to 8.89Mn, while 90-day active data customers grew by 37.0% Y o Y to 12.15Mn. Usage trends remained healthy, with average data consumption per subscriber rising 14.8% Y o Y to 7.72GB, demonstrating strong demand resilience as customers-maintained usage levels. This strong uptake translated into a 27.9% Y o Y increase in ARPU to KShs 152.20. Fixed Service and Wholesale Transit Fixed service and wholesale transit revenue increased by 109.7% Y o Y to KShs 195.0Mn, driven by growth in connections and continued expansion of the network footprint, reflecting rising demand for connectivity services. Detailed financials for the Group including separate disclosures of our Kenya and Ethiopia business operations are included in this booklet for your review.
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SAFARICOM PLC RESULTS BOOKLET 11 Key Performance Indicators HY27 HY26 % Change 90-day total active customers (Mn)1 78.99 64.60 22.3% One month active customers (Mn) 52.81 46.44 13.7% Connectivity KPIs One month active customers (Mn) 52.28 45.98 13.7% One month active voice customers (Mn) 40.68 37.19 9.4% One month active messaging customers (Mn) 29.30 27.12 8.0% One month active mobile data customers (Mn) 44.32 38.29 15.7% M-PESA Number of M-PESA agents 351,163 322,216 9.0% Merchants (Mn) 4.62 2.39 93.3% Lipa na M-PESA active merchants (k) 1,386.36 894.26 55.0% Number of Pochi tills (k) 3,230.92 1,500.36 >100.0% One month active M-PESA customers (Mn) 44.47 39.82 11.7% Chargeable transaction per one month active customers 48.27 37.44 28.9% Mobile Data Distinct Bundle Users (Mn) 25.68 22.51 14.1% One month active chargeable mobile data customers (Mn) 36.75 31.37 17.2% Data customers using >1GB (Mn) 20.31 12.92 57.2% Usage per chargeable mobile data subscriber (MBs) 6,177.98 5,339.52 15.7% Fixed Service FTTH home customers 474,420 355,175 33.6% Homes passed 907,573 798,914 13.6% Activity rate (active customers/homes connected) 102.0% 77.1% 24.9ppt Fixed enterprise customers 95,442 77,198 23.6% Base Stations 2G base stations 11,700 10,683 9.5% 3G base stations 11,687 10,679 9.4% 4G base stations 11,680 10,647 9.7% 5G base stations 1,934 1,859 4.0% 1. KEY PERFORMANCE INDICATORS a. Safaricom Group 1 HY26 numbers revised to include mobile terminating customers
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SAFARICOM PLC RESULTS BOOKLET 12 Key Performance Indicators HY27 HY26 % Change 90-day total active customers (Mn)1 63.56 53.45 18.9% 90-day active total customer ARPU* 589.61 648.46 (9.1%) One month active customers (Mn)* 40.61 37.92 7.1% One month active customer ARPU* 890.12 856.59 3.9% Churn (%) 18.37% 25.81% 7.4ppt Connectivity KPIs One month active customers (Mn) 40.20 37.54 7.1% One month active voice customers (Mn) 31.45 30.22 4.1% One month active messaging customers (Mn) 25.86 23.78 8.8% One month active mobile data customers (Mn) 35.43 31.88 11.1% One month active customer ARPU* 433.82 428.91 1.1% One month active voice customer ARPU* 223.33 222.72 0.3% One month active messaging customer ARPU* 28.10 36.49 (23.0%) One month active chargeable mobile data ARPU* 273.54 280.31 (2.4%) M-PESA Number of M-PESA agents 351,157 319,330 10.0% Merchants (Mn) 4.51 2.37 90.3% Lipa na M-PESA active merchants (k) 1,277.39 870.74 46.7% Number of Pochi tills (k) 3,230.92 1,500.36 >100.0% One month active M-PESA customers (Mn) 42.31 37.91 11.6% One month active M-PESA ARPU* 398.96 388.29 2.7% Chargeable transaction per one month active customers 50.89 38.69 31.5% Merchant overdraft customers 61,596 43,679 41.0% M-PESA Visa Card active customers 356,583 245,360 45.3% Wealth Management Assets Under Management (AUM) (KShs Bn) 25.56 15.06 69.7% Value transacted (KShs Trn) 23.56 20.21 16.6% Volume transacted (Bn) 27.38 21.87 25.2% Mobile Data Distinct bundle users (Mn) 25.68 22.51 14.1% One month active chargeable mobile data customers (Mn) 27.86 24.96 11.6% 4G+ Handsets (Mn) 32.32 24.39 32.5% Data customers using >1GB (Mn) 15.21 12.92 17.7% Usage per chargeable mobile data subscriber (MBs) 5,437.23 4,968.18 9.4% Fixed Service FTTH home customers 474,420 355,175 33.6% FTTH ARPU* 2,101 2,298 (8.6%) Homes passed 907,573 798,914 13.6% Activity rate (active customers/homes connected) 102.0% 77.1% 24.9ppt Fixed enterprise customers 95,442 77,198 23.6% of which LTE 11,999 19,365 (38.0%) Fixed enterprise ARPU* 9,379 9,574 (2.0%) of which LTE 3,257 2,944 10.6% Base Stations 2G base stations 8,076 7,377 9.5% 3G base stations 8,063 7,373 9.4% 4G base stations 8,056 7,341 9.7% 5G base stations 1,880 1,859 1.1% Solar sites 2,408 1,460 64.9% b. Safaricom Kenya 1 HY26 numbers revised to include mobile terminating customers *Average Revenue Per User (ARPU) is in KShs
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SAFARICOM PLC RESULTS BOOKLET 13 Key Performance Indicators HY27 HY26 % Change 90-day active customers (Mn) 15.43 11.15 38.4% 90-day active total customer ARPU* 120.98 102.70 17.8% 90-day active total customer ARPU (ETB) 149.63 107.98 38.6% One month active customers (Mn) 12.20 8.51 43.4% One month active customer ARPU* 151.86 132.00 15.0% One month active customer ARPU (ETB) 187.95 138.59 35.6% Connectivity KPIS One month active customers (Mn) 12.08 8.42 43.5% One month active customer ARPU* 150.42 129.83 15.9% One month active customer ARPU (ETB) 186.16 136.40 36.5% Voice 90-day active total customers (Mn) 12.58 9.57 31.5% One month active voice customers (Mn) 9.23 6.98 32.2% One month active voice customer ARPU* 30.53 34.51 (11.5%) One month active voice customer ARPU (ETB) 37.74 36.29 4.0% M-PESA Total one month active M-PESA merchants 108,970 30,721 255.0% 90-day M-Pesa customers (Mn) 5.18 3.35 54.6% 30-day M-PESA customers (Mn) 2.15 1.91 12.6% Value transacted (KShs Bn) 34.40 11.74 192.9% Volume transacted (Mn) 223.44 84.74 163.7% Mobile Data 90-day active total customers (Mn) 12.15 8.87 37.0% One month active chargeable mobile data customers (Mn) 8.89 6.41 38.7% Usage per chargeable mobile data subscriber (MBs)** 7,900.53 6,879.37 14.8% One month active chargeable data ARPU* 152.20 119.01 27.9% One month active chargeable data ARPU (ETB) 188.36 124.86 50.9% Messaging 90-day active total customers (Mn) 6.15 5.74 7.1% One month active messaging customers (Mn) 3.44 3.34 3.0% One month active messaging customer ARPU* 5.79 3.93 47.3% One month active messaging customer ARPU (ETB) 7.20 4.14 73.9% Base Stations 2G/3G/4G base stations 3,624 3,306 9.6% c. Safaricom Telecommunications Ethiopia (STE) **Average Revenue Per User (ARPU) is in KShs. Conversion of ETB to KShs at an average exchange rate of KShs 0.8088 to ETB in HY27 (HY26: 0.9553) **To convert to GBs, divide by 1,024.
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SAFARICOM PLC RESULTS BOOKLET 14 Group Company KShs Mns Notes HY27 HY26 HY27 HY26 Connectivity revenue 3B.a 113,599.7 101,924.4 103,344.3 95,952.6 M-PESA revenue 100,081.2 88,064.5 97,758.6 86,212.1 Mobile service revenue 213,680.8 189,988.9 201,102.9 182,164.7 Fixed Service and IoT revenue 3B.b 12,382.1 9,876.3 12,508.1 9,964.2 Service revenue 226,062.9 199,865.2 213,611.0 192,128.9 Handset revenue and other revenue 5,486.5 2,603.3 4,941.1 2,440.1 Other income 2,133.8 2,239.7 4,439.9 4,436.0 Total revenue 233,683.2 204,708.2 222,992.0 199,005.0 Direct costs 3B.c (57,549.2) (50,790.2) (52,981.4) (47,219.5) Expected credit loss on financial assets (2,412.4) (2,508.9) (3,184.7) (2,702.6) Contribution margin 173,721.6 151,409.1 166,825.9 149,082.9 Contribution margin % 74.3% 74.0% 74.8% 74.9% Other operating expenses 3B.d (44,536.9) (50,121.1) (37,936.9) (34,575.4) Earnings before interest, tax, depreciation and amortisation (EBITDA) 129,184.7 101,288.0 128,889.0 114,507.5 EBITDA margin % 55.3% 49.5% 57.8% 57.5% Depreciation, impairement & amortisation (38,043.4) (36,074.5) (27,097.4) (24,260.8) Operating profit (EBIT) 91,141.3 65,213.5 101,791.6 90,246.7 Operating profit margin % 39.0% 31.9% 45.6% 45.3% Net finance cost (9,910.3) (9,891.8) (5,124.8) (5,477.9) Share of profit/(loss) of associate & joint venture 95.8 (81.9) 83.4 (166.0) Profit before income tax 81,326.8 55,239.8 96,750.2 84,602.9 Income tax expense (30,975.7) (26,049.9) (30,148.4) (25,507.4) Profit after tax 50,351.1 29,189.9 66,601.8 59,095.5 Attributable to: Equity holders of the parent 58,154.2 42,780.0 66,601.8 59,095.5 Non-controlling interests (7,803.1) (13,590.1) - - Profit for the period 50,351.1 29,189.9 66,601.8 59,095.5 Basic and diluted earnings per share (EPS)* 1.45 1.07 1.66 1.47 Profit for the period 50,351.1 29,189.9 66,601.8 59,095.5 Other comprehensive loss for the period Items that will subsequently be reclassified to profit or loss in subsequent periods: Exchange differences on translation of foreign operations** (2,951.5) (14,022.8) - - Other comprehensive loss for the period (2,951.5) (14,022.8) - - Total comprehensive income/ (loss) for the period 47,399.6 15,167.1 66,601.8 59,095.5 Attributable to: Equity holders of the parent 56,557.8 35,295.8 66,601.8 59,095.5 Non-controlling interests (9,158.2) (20,128.7) - - Total comprehensive income/ (loss) for period 47,399.6 15,167.1 66,601.8 59,095.5 2. FINANCIAL STATEMENTS a. Consolidated statement of comprehensive income *EPS is calculated by dividing the profit attributable to equity holders of the parent by the weighted average number of ordinary shares issued in the year. ** These components of other comprehensive income do not attract any tax.
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SAFARICOM PLC RESULTS BOOKLET 15 (KShs Mns) Group Company As at 30-Sep-26 31-Mar-26 30-Sep-26 31-Mar-26 Non-current assets Deferred income tax 19,363.9 20,741.3 18,990.8 20,328.7 Property and equipment 258,797.1 248,886.8 188,191.5 173,968.0 Indefeasible rights-of-use - 2,624.3 - 2,624.3 Investment properties 870.0 870.0 870.0 870.0 Intangible assets 133,515.8 108,165.0 80,171.8 48,870.9 Right-of-use assets 49,075.0 38,370.1 39,032.8 27,524.7 Investment in subsidiaries - - 153,219.2 147,807.4 Investment in associates and joint venture 7,463.5 7,367.9 7,118.5 7,035.2 Restricted cash 8,946.2 8,138.8 1,620.5 1,394.9 Deferred restricted cash asset 71.2 88.2 71.2 88.2 Contract assets 1,179.0 2,846.2 612.6 1,743.0 479,281.7 438,098.6 489,898.9 432,255.3 Current assets Inventories 1,765.7 1,619.5 1,168.8 1,063.7 Trade and other receivables 41,367.1 39,416.9 36,975.9 28,682.1 Net cash and cash equivalents 40,484.6 26,955.3 17,590.4 18,617.2 Restricted cash - letter of credit 1,636.4 1,087.3 - - Contract assets 6,846.9 9,256.0 6,846.6 9,187.5 Mobile financial deposit 2,420.7 1,611.8 - - 94,521.4 79,946.8 62,581.7 57,550.5 Total assets 573,803.1 518,045.4 552,480.6 489,805.8 Equity Share capital 2,003.3 2,003.3 2,003.3 2,003.3 Share premium 2,200.0 2,200.0 2,200.0 2,200.0 Retained earnings 224,056.2 165,739.6 323,341.0 256,739.2 Other reserves (17,988.4) (16,421.4) - - Share reserves 464.7 1,538.1 464.7 1,538.1 Proposed dividend - 46,075.2 - 46,075.2 Equity attributable to equity holders of the parent 210,735.8 201,134.8 328,009.0 308,555.8 Non-controlling interests 25,584.6 29,786.3 - - Total equity 236,320.4 230,921.1 328,009.0 308,555.8 Non current liabilities Borrowings 93,425.6 83,714.6 38,000.0 41,000.0 Lease liabilities 54,403.6 48,685.7 39,201.9 28,941.3 Payables and accrued expenses 32,227.2 14,569.8 24,566.0 5,198.4 Provisions 5,342.7 3,018.6 3,255.4 2,653.0 Contract liabilities 852.2 1,690.9 852.2 1,690.9 Financial guarantees liability - - 195.0 287.6 186,251.3 151,679.6 106,070.5 79,771.2 Current liabilities Current income tax 1,013.7 1,821.1 195.2 893.7 Dividend payable 1,559.2 1,043.0 1,559.2 1,043.0 Borrowings 45,645.0 25,540.4 38,460.1 19,728.5 Lease liabilities 13,257.2 8,824.8 9,027.6 7,187.4 Payables and accrued expenses 71,688.7 80,263.9 54,578.1 57,599.8 Provisions 5,116.4 5,066.1 4,871.8 4,812.0 Mobile financial deposit 2,420.7 1,611.8 - - Contract liabilities 10,530.5 11,273.6 9,708.4 10,214.4 151,231.4 135,444.7 118,401.1 101,478.8 Total liabilities 337,482.7 287,124.3 224,471.6 181,250.0 Total equity and liabilities 573,803.1 518,045.4 552,480.6 489,805.8 b. Consolidated statement of financial position
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SAFARICOM PLC RESULTS BOOKLET 16 GROUP Attributable to the equity holders of the parent For the six-month period ended 30 September 2026 (Unaudited) Share capital Share premium Retained earnings Proposed dividends Other reserves** Share based reserve Total Non- controlling interests Total KShs Mn Opening balance 01 April 2026 (Audited) 2,003.3 2,200.0 165,739.6 46,075.2 (16,421.4) 1,538.1 201,134.8 29,786.3 230,921.1 Profit for the period — — 58,154.2 — — — 58,154.2 (7,803.1) 50,351.1 Other comprehensive income — — — — (1,596.4) — (1,596.4) (1,355.1) (2,951.5) Total comprehensive income — — 58,154.2 — (1,596.4) — 56,557.8 (9,158.2) 47,399.6 Transactions with owners: Final dividends — — — (46,075.2) — — (46,075.2) — (46,075.2) Share reserves: - Additions — — — — — 511.8 511.8 — 511.8 - Vesting of shares — — — — — (851.2) (851.2) — (851.2) - Loss on share vesting — — — — — (734.0) (734.0) — (734.0) Capital contribution from NCI shareholders* — — — — — — _ 5,148.3 5,148.3 Equity adjustment on change in shareholding — — 162.4 — 29.4 — 191.8 (191.8) _ — — 162.4 (46,075.2) 29.4 (1,073.4) (46,956.8) 4,956.5 (42,000.3) Balance as at 30 September 2026 (Unaudited) 2,003.3 2,200.0 224,056.2 — (17,988.4) 464.7 210,735.8 25,584.6 236,320.4 Attributable to the equity holders of the parent For the six-month period ended 30 September 2025 (Unaudited) Share capital Share premium Retained earnings Proposed dividends Other reserves** Total Non- controlling interests Total KShs Mn Opening balance 01 April 2025 (Audited) 2,003.3 2,200.0 153,881.8 26,042.5 (6,432.3) 177,695.3 46,325.8 224,021.1 Profit for the period — — 42,780.0 — — 42,780.0 (13,590.1) 29,189.9 Other comprehensive income — — — — (7,484.2) (7,484.2) (6,538.6) (14,022.8) Total comprehensive income — — 42,780.0 — (7,484.2) 35,295.8 (20,128.7) 15,167.1 Transactions with owners: Final dividends — — — (26,042.5) — (26,042.5) — (26,042.5) Capital contribution from NCI shareholders* — — — — — — 2,490.1 2,490.1 Equity adjustment on change in shareholding — — (2,266.3) — (283.9) (2,550.2) 2,550.2 — — — (2,266.3) (26,042.5) (283.9) (28,592.7) 5,040.3 (23,552.4) Balance as at 30 September 2025 (Unaudited) 2,003.3 2,200.0 194,395.5 — (14,200.4) 184,398.4 31,237.4 215,635.8 c. Consolidated statement of changes in equity * Capital contribution from NCI shareholders relates to the contribution of non-controlling shareholders towards investment in the equity of Safaricom Telecommunication Ethiopia Plc. **Other reserves include foreign currency translation reserve representing the cumulative position of translation gains and losses arising from translation of net assets of foreign subsidiary companies to the presentation currency and redistribution of loss after shareholding change.
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SAFARICOM PLC RESULTS BOOKLET 17 c. Statement of changes in equity COMPANY For the six months ended 30 September 2026 (unaudited) Share capital Share premium Retained earnings Proposed dividend Share reserve Total equity KShs Mn Opening balance 01 April 2026 (Audited) 2,003.3 2,200.0 256,739.2 46,075.2 1,538.1 308,555.8 Profit for the period — — 66,601.8 — — 66,601.8 Transactions with owners: Dividend: - 2025 final dividends paid — — — (46,075.2) _ (46,075.2) Share reserves - Additions — — — — 511.8 511.8 - Vesting of shares — — — — (851.2) (851.2) - Loss on share vesting — — — — (734.0) (734.0) — — 66,601.8 (46,075.2) (1,073.4) 19,453.2 Balance as at 30 September 2026 (Unaudited) 2,003.3 2,200.0 323,341.0 — 464.7 328,009.0 For the six months ended 30 September 2025 (unaudited) Share capital Share premium Retained earnings Proposed dividend Share reserve Total equity Opening balance 01 April 2025 (Audited) 2,003.3 2,200.0 218,516.1 26,042.5 — 248,761.9 Profit for the period — — 59,095.5 — — 59,095.5 Transactions with owners: Dividend: - 2025 final dividends paid — — — (26,042.5) — (26,042.5) — — 59,095.5 (26,042.5) — 33,053.0 Balance as at 30 September 2025 (Unaudited) 2,003.3 2,200.0 277,611.6 — — 281,814.9
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SAFARICOM PLC RESULTS BOOKLET 18 Group Company KShs Mns 30 September 2026 30 September 2025 30 September 2026 30 September 2025 Cash flows from operating activities Cash generated from operations 121,329.2 92,322.3 121,681.3 108,994.6 Interest received 966.5 808.3 824.0 662.3 Income tax paid (30,372.2) (28,392.6) (29,509.0) (27,607.5) Net cash generated from operating activities 91,923.5 64,738.0 92,996.3 82,049.4 Cash flows from investing activities Purchase of property and equipment (40,273.0) (41,740.7) (35,224.8) (33,496.9) Proceeds from disposal of property and equipment 40.6 8.4 18.1 9.8 Acquisition of intangible assets (14,510.7) - (14,510.6) (2.3) Proceeds from ARO payments (25.4) - (25.4) - Movement in restricted cash (1,773.7) (329.7) (192.2) 117.1 Investment in subsidiaries - - (5,411.7) (8,259.8) Loans to subsidiaries - - (67.0) - Dividends from subsidiary - - (1,554.0) - Net cash used in investing activities (56,542.2) (42,062.0) (56,967.6) (41,632.1) Cash flows from financing activities Dividends paid (45,559.1) (26,325.7) (45,559.1) (26,325.7) Repayment of lease liabilities- principal (3,918.7) (2,772.0) (2,094.6) (5,505.2) Repayment of lease liabilities- interest (3,051.2) (354.1) (1,995.4) - Interest paid on borrowings (4,595.7) (5,554.0) (3,108.2) (4,322.4) Proceeds from borrowings 48,408.3 47,261.1 31,200.0 13,000 Repayment of borrowings (17,952.4) (35,485.1) (15,500.0) (18,955.3) Capital contribution from NCI shareholders 5,148.3 2,490.1 - - Net cash generated from / (used in) financing activities (21,520.5) (20,739.7) (37,057.3) (42,108.6) Net increase/(decrease) in cash and cash equivalents 13,860.8 1,936.3 (1,028.6) (1,691.3) Movement in cash and cash equivalents At start of period 26,989.6 30,024.6 18,626.1 15,912.6 Net foreign exchange differences (314.4) (1,727.7) - - Increase/ (decrease) in cash and cash equivalents 13,860.8 1,936.3 (1,028.6) (1,691.3) Closing cash and cash equivalents 40,536.0 30,233.2 17,597.5 14,221.3 d. Consolidated statement of cash flows
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SAFARICOM PLC RESULTS BOOKLET 19 Safaricom Kenya Safaricom Ethiopia Safaricom Plc Group Safaricom Kenya % YoY Safaricom Ethiopia % YoY Safaricom Plc Group % YoYKShs Mns Note Connectivity revenue 103,383.8 10,410.8 113,599.7 7.7% 71.1% 11.5% Voice revenue 42,197.3 1,655.0 43,852.4 6.2% 20.9% 6.7% Messaging revenue 5,005.7 128.3 5,133.9 (8.6%) 72.9% (7.5%) Mobile data revenue 45,242.3 7,852.1 53,094.5 12.2% 90.2% 19.5% Mobile incoming revenue 4,705.6 362.1 4,876.1 6.1% 11.3% 5.5% Other mobile service revenue 6,232.9 413.3 6,642.8 3.5% >100.0% 6.9% M-PESA revenue 100,071.1 10.1 100,081.2 13.6% 15.7% 13.6% Mobile service revenue 203,454.9 10,420.9 213,680.8 10.6% 71.0% 12.5% Fixed service & IoT revenue 12,508.1 195.0 12,382.1 25.5% 109.7% 25.4% Fixed line & wholesale transit revenue 11,019.0 195.0 10,893.0 19.7% 109.7% 19.5% IoT revenue 669.0 - 669.0 17.1% 0.0% 17.2% Public sector revenue 820.1 - 820.1 >100.0% 0.0% > 100.0% Service revenue 3 215,962.9 10,615.9 226,062.9 11.3% 71.6% 13.1% Handset revenue and other revenue 4,941.1 545.4 5,486.5 >100.0% 234.4% >100.0% Other income 2,476.6 2.0 2,133.8 13.5% (96.4%) (4.7%) Total revenue 223,380.6 11,163.3 233,683.2 12.5% 74.2% 14.2% Direct costs 3 (53,460.5) (4,604.6) (57,549.2) 12.4% 30.4% 13.3% Expected credit losses on financial assets (2,994.6) (99.2) (2,412.4) 21.1% 74.3% (3.8%) Contribution margin 166,925.5 6,459.5 173,721.6 12.4% 129.1% 14.7% Contribution margin % 74.7% 57.9% 74.3% (0.1ppt) 13.9ppt 0.3ppt Other operating expenses 3 (37,987.8) (6,893.9) (44,536.9) 9.3% (55.2%) (11.1%) Operating costs- % of total revenue 17.0% 61.8% 19.1% (0.5ppt) (178.1ppt) (5.4ppt) Earnings/(loss) before interest, tax, depreciation and amortisation (EBITDA) 128,937.7 (434.4) 129,184.7 13.3% 96.5% 27.5% EBITDA margin % 57.7% -3.9% 55.3% 0.4ppt 192.0ppt 5.8ppt Depreciation, impairment & amortisation (27,124.7) (10,918.8) (38,043.4) 11.7% (7.3%) 5.5% Operating profit (EBIT)/(loss) 101,813.0 (11,353.1) 91,141.3 13.7% 53.4% 39.8% Operating profit margin % 45.6% (101.7%) 39.0% 0.5ppt 278.1ppt 7.1ppt Net finance cost (4,988.2) (4,922.0) (9,910.3) (6.1%) 7.5% 0.2% Share of profit of associate & joint venture 95.7 - 95.8 <100.0% - <100.0% Profit/(loss) before income tax 96,920.5 (16,275.1) 81,326.8 15.2% 43.7% 47.2% Income tax expense (30,649.8) (325.9) (30,975.7) 18.4% 113.6% 18.9% Profit/(loss) after tax 66,270.7 (16,601.0) 50,351.1 13.8% 42.9% 72.5% Attributable to: Equity holders of the parent 66,270.7 (8,798.1) 58,154.2 13.8% 43.2% 35.9% Non-controlling interests - (7,802.7) (7,803.1) - 42.6% (42.6%) Profit/(loss) for the period 66,270.7 (16,601.0) 50,351.1 13.8% 42.9% 72.5% *Safaricom Kenya in the table above refers to the Kenya region with all subsidiaries in Kenya consolidated therein, while Safaricom Ethiopia numbers relate to the Safaricom Telecommunications Ethiopia (STE) (which consolidates Safaricom M-PESA Mobile Financial Services PLC) numbers. Safaricom Group column consolidates Safaricom Kenya, STE, Vodafamily and GPE. Intercompany eliminations relating to all subsidiaries under the group are reflected at group level. e. HY27 Income Statement for Group, Kenya and Ethiopia*
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SAFARICOM PLC RESULTS BOOKLET 20 A. Accounting Policies a) Basis of preparation These interim condensed consolidated financial statements for the six months ended 30 September 2026 have been prepared in accordance with International Accounting Standards (IAS) 34, Interim Financial Reporting and the framework concepts and the measurement and recognition requirements of IFRS. These interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group’s annual financial statements for the period ended 31 March 2026. The preparation of the financial statements in accordance with IFRS requires the use of certain critical accounting estimates and management judgement in applying the Group’s accounting policies. b) Measurement basis The measurement basis used is the historical cost basis except for investment property that has been measured at fair value. Under the historical cost basis, assets are recorded at the amount of cash or cash equivalents paid or the fair value of the consideration given to acquire them at the time of their acquisition. Liabilities are recorded at the amount of proceeds received in exchange for the obligation or, in some cases, at the amounts of cash or cash equivalents expected to be paid to satisfy the liability in the normal course of business. c) Change in Accounting Policy – Deferred SIM Costs and Connection Revenue During the year, the Group completed a review of the accounting treatment applied to deferred SIM-related costs and associated connection revenue balances in accordance with the requirements of IFRS 15, Revenue from Contracts with Customers. Accordingly, the Group revised its accounting policy and derecognised deferred SIM and contract cost balances previously recognised within Contract Assets. In addition, deferred connection revenue balances previously recognised within Contract Liabilities were released to profit or loss. The adjustment resulted in: • Derecognition of deferred SIM and contract cost balances of KShs 4.096 billion from Contract Assets. • Recognition of KShs 2.331 billion of deferred connection revenue in profit or loss through other income. • A net adverse impact of KShs 1.785 billion on Contribution Margin. Comparative information has not been restated as the impact of the policy change on prior periods was assessed and determined to be immaterial to the previously issued financial statements. The adjustment has therefore been recognised in the current year, with prior- period amounts remaining as previously reported. d) Translation of foreign operations The results, cash flows and financial position of Group entities that have a functional currency different from the presentation currency of the Group are translated into the presentation currency as follows: • Assets and liabilities, including goodwill and fair value adjustments arising on acquisition, are translated at rates of exchange ruling at the reporting date • Specific transactions in equity are translated at rates of exchange ruling at the transaction dates • Income and expenditure and cash flow items are translated at weighted average exchange rates for the period or translated at exchange rates at the date of the transaction, where applicable; and • Foreign exchange translation differences are recognised in Other Comprehensive Income (OCI) and accumulated in the foreign currency translation reserve (FCTR), except to the extent the difference is allocated to non-controlling interests. An entity may have a monetary item that is receivable from a foreign operation. An item for which settlement is neither planned nor likely to occur in the foreseeable future is, in substance, a part of the entity’s net investment in that foreign operation. On consolidation, exchange differences arising from the translation of the net investment in foreign operations are taken to other comprehensive income and accumulated in the foreign currency translation reserve. 3. SUPPLEMENTARY INFORMATION The foregoing information was extracted from the Group’s financial statements or the six months ended 30 September 2026.
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SAFARICOM PLC RESULTS BOOKLET 21 Group Company KShs Mns HY27 HY26 HY27 HY26 Voice revenue 43,852.4 41,090.2 42,197.3 39,721.5 Messaging revenue 5,133.9 5,550.1 5,005.7 5,476.0 Mobile data revenue 53,094.5 44,447.8 45,242.3 40,319.8 Mobile incoming revenue 4,876.1 4,622.7 4,705.6 4,435.1 Other mobile service revenue 6,642.8 6,213.6 6,193.5 6,000.2 Totals 113,599.7 101,924.4 103,344.3 95,952.6 Group Company KShs Mns HY27 HY26 HY27 HY26 M-PESA commissions (19,071.3) (18,779.0) (18,750.9) (18,470.9) Airtime commissions (5,449.5) (4,579.1) (3,776.5) (3,349.2) License fees (7,380.6) (7,947.5) (7,064.8) (7,796.5) Interconnect and roaming costs (4,392.9) (4,650.7) (3,676.2) (3,756.8) Handset costs (3,197.1) (3,057.8) (3,141.6) (2,928.4) Customer acquisition and retention (13,038.4) (7,484.9) (11,667.4) (6,704.1) Promotions and value-added services costs (Voice & SMS) (2,706.5) (2,887.8) (2,639.5) (2,880.6) Other direct costs (2,312.9) (1,403.4) (2,264.4) (1,333.0) Totals (57,549.2) (50,790.2) (52,981.4) (47,219.5) Group Company KShs Mns HY27 HY26 HY27 HY26 Fixed line and wholesale transit revenue 10,893.0 9,115.3 11,019.0 9,203.3 IoT revenue 669.0 571.1 669.0 571.0 Public sector revenue 820.1 189.9 820.1 189.9 Totals 12,382.1 9,876.3 12,508.1 9,964.2 b. Fixed Service and IoT Revenue c. Direct Costs B. Safaricom Group a. Connectivity Revenue
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SAFARICOM PLC RESULTS BOOKLET 22 Group Company KShs Mns As at 30-Sep-26 31-Mar-26 30-Sep-26 31-Mar-26 Cash and cash equivalents 40,484.6 26,955.3 17,590.4 18,617.2 Borrowings Short term borrowings (45,645.0) (25,540.4) (38,460.1) (19,728.5) Long term borrowings (93,425.6) (83,714.6) (38,000.0) (41,000.0) Lease liabilities & licenses payables* (94,808.5) (57,510.5) (75,377.2) (36,128.7) Total net debt (193,394.5) (139,810.2) (134,246.9) (78,240.0) GROUP HY27 Reported (KShs Mn) Reported YoY% Constant Currency YoY% Service revenue 226,062.9 +13.1% +13.6% EBIT 91,141.3 +39.8% +33.6% Net income excl. minority interest 58,154.2 +35.9% +30.0% e. Net Debt f. Normalised growth The table below represents normalised growth, which presents performance on a comparable basis. This adjusts for foreign currency fluctuation on a constant currency basis (using the current year as base), to show a like-for-like comparison of results. We believe that normalised growth, which is not intended to be a substitute for, or superior to reported growth, provides useful and necessary information to investors and other interested parties for the following reasons: • It provides additional information on underlying growth of the business without the effect of certain factors unrelated to the operating performance of the business; • It is used for internal performance analysis; and • It facilitates comparability of underlying growth with other companies, although the term normalised is not a defined term under IFRS and may not, therefore, be comparable with similarly titled measures reported by other companies. Group Company KShs Mns HY27 HY26 HY27 HY26 Repairs and maintenance (189.0) (171.2) (177.8) (162.1) Operating lease costs - buildings* (93.1) (75.8) (48.2) (24.2) Operating lease costs - sites* (1,897.3) (1,703.3) (1,896.7) (1,706.3) Auditor's remuneration (61.0) (59.3) (45.2) (44.4) Computer maintenance (2,198.8) (2,054.3) (1,752.2) (1,399.5) Consultancy and legal fees (409.2) (346.1) (371.2) (215.8) Employee benefits expense (16,699.1) (15,201.4) (15,001.8) (13,532.6) Net foreign exchange losses, other than on borrowings and cash and cash equivalent (952.2) (10,016.1) 33.8 (685.5) Office administration (410.9) (361.4) (363.9) (317.9) Other operating expenses (5,594.0) (4,459.3) (4,512.6) (3,346.7) Sales and advertising (2,999.9) (3,012.3) (2,878.6) (2,903.8) Network operating costs (12,302.4) (11,828.7) (10,412.6) (9,635.5) Travel and accommodation (561.8) (656.8) (341.9) (427.2) Inventory storage costs (168.2) (175.1) (168.0) (173.9) Totals (44,536.9) (50,121.1) (37,936.9) (34,575.4) d. Other Operating Expenses *Relates to non-lease components of the lease e.g. service charges, VAT disallowed on payments of leases. The cost is excluded from the measurement of the lease liability as provided for in IFRS 16. *This includes license payables. Effective 1 July 2026, Safaricom was granted a 25-year spectrum license renewal by the Government of Kenya for the right to use specified radio-frequency spectrum. The total license fee, payable over the years, was recognised as an intangible asset at the present value of the contractual cash flows. The intangible asset is amortised on a straight-line basis over the 25-year license period, while the related financing element is recognised as finance costs over the payment period using the effective interest method.
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SAFARICOM PLC RESULTS BOOKLET 23 C. Safaricom Kenya a. Direct Costs KShs Mns HY27 HY26 M-PESA commissions (19,119.2) (18,777.3) Airtime commissions (3,776.5) (3,349.2) License fees (7,119.1) (7,840.7) Interconnect and roaming costs (3,676.2) (3,756.8) Handset costs (3,141.6) (2,928.4) Customer acquisition and retention (11,667.4) (6,704.1) Promotions and value-added services costs (Voice & SMS) (2,668.3) (2,882.5) Other direct costs (2,292.2) (1,338.1) Totals (53,460.5) (47,577.2) * Relates to non-lease components of the lease e.g. service charges, VAT disallowed on payments of leases. The cost is excluded from the measurement of the lease liability as provided for in IFRS 16. b. Other Operating Expenses KShs Mns HY27 HY26 Repairs and maintenance (178.8) (162.3) Operating lease cost - buildings* (48.2) (24.2) Operating lease cost - sites* (1,896.7) (1,706.3) Auditor’s remuneration (48.4) (48.5) Computer maintenance (1,752.6) (1,399.5) Consultancy (381.9) (232.6) Employee benefits expense (15,118.3) (13,642.3) Net foreign exchange gains, other than on borrowings and cash and cash equivalent 116.2 (621.2) Office administration (367.1) (323.7) Other operating expenses (4,807.9) (3,615.4) Sales and advertising (2,551.3) (2,700.4) Network operating costs (10,414.8) (9,636.9) Travel and accommodation (370.1) (457.5) Inventory storage costs (168.0) (173.9) Totals (37,987.8) (34,744.7)
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SAFARICOM PLC RESULTS BOOKLET 24 KShs Mns HY27 HY26 Finance Income Interest income 961.2 815.4 Foreign exchange gain on cash and borrowings 160.9 80.0 Amortisation of impairment loss on restricted cash 16.4 14.1 Total Finance Income 1,138.5 909.5 Finance Cost Interest expense (3,139.8) (3,890.9) Foreign exchange losses on cash and borrowings (124.7) (97.0) Interest on Asset Retirement Obligation (ARO) liability (163.1) (193.4) Interest on lease liabilities and license obligations (2,656.3) (1,752.1) Origination fee on credit facilities (42.9) (288.2) Total Finance Costs (6,126.8) (6,221.5) Net Finance cost (4,988.2) (5,312.0) d. Finance Income & Cost KShs Mns HY27 HY26 EBITDA 128,937.7 113,824.4 Net Working Capital Changes (3,462.4) (4,477.4) Other Cashflow movements Movement in; RoU assets and lease liabilities (4,442.5) (4,131.1) Gain on lease terminations 8.1 275.5 Loss on PPE disposal (18.6) (6.4) Operating cash flow 120,591.9 105,485.2 Capital additions (35,262.1) (34,170.1) Proceeds from disposal of property, plant & equipment (22.4) 9.8 Operating free cash flow 85,307.0 71,324.9 Net interest paid/received (2,153.9) (3,797.2) Net taxation paid (30,197.0) (28,392.6) Free cash flow 52,956.1 39,135.0 c. Free cash flow
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SAFARICOM PLC RESULTS BOOKLET 25 D. Safaricom Telecommunications Ethiopia (STE) Plc a. Revenue KShs (Mn)* ETB (Mn) HY27 HY26 HY27 HY26 Connectivity Revenue 10,410.8 6,085.3 12,884.0 6,393.2 Voice revenue 1,655.0 1,368.7 2,045.5 1,440.6 Messaging revenue 128.3 74.2 158.5 77.9 Mobile data revenue 7,852.1 4,128.0 9,719.3 4,332.7 Mobile incoming revenue 362.1 325.3 447.0 342.7 Other mobile service revenue 413.3 189.1 513.7 199.4 M-PESA revenue 10.1 8.7 12.5 9.0 Mobile Service revenue 10,420.9 6,094.0 12,896.5 6,402.3 Fixed service & IoT revenue 195.0 93.0 241.4 97.9 Service revenue 10,615.9 6,187.0 13,137.9 6,500.2 Total revenue 11,163.3 6,408.5 13,825.2 6,731.4 KShs (Mn) ETB (Mn) HY27 HY26 HY27 HY26 M-PESA commissions 47.9 (1.7) 60.3 (1.7) Airtime commissions (1,673.0) (1,229.9) (2,070.8) (1,290.4) License fees (261.5) (106.8) (323.9) (113.2) Interconnect and roaming costs (1,232.6) (1,212.6) (1,524.6) (1,272.2) Handset costs (55.5) (129.3) (69.3) (69.5) Customer acquisition and retention (1,370.9) (780.7) (1,662.9) (752.0) Promotions and value-added services costs (Voice & SMS) (38.2) (5.3) (47.4) (5.5) Other direct costs (20.8) (65.3) (25.8) (70.9) Totals (4,604.6) (3,531.6) (5,664.4) (3,575.4) b. Direct Costs
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SAFARICOM PLC RESULTS BOOKLET 26 d. Safaricom Ethiopia Consolidated Summarised Statement of Financial Position KShs Mns 30-Sep-26 31-Mar-26 Equity Attributable to; Equity holders of parent 27,152.8 31,850.8 Non-controlling interest 25,584.6 29,786.3 Non-current liabilities 80,375.8 72,196.0 Total equity and non- current liabilities 133,113.2 133,833.1 Non-current assets 142,206.3 153,315.4 Current assets Cash and cash equivalents 18,567.6 7,964.5 Other current assets 7,518.3 11,228.3 Total current assets 26,085.9 19,192.8 Current liabilities 35,179.0 38,675.1 133,113.2 133,833.1 Safaricom Plc’s investment in Ethiopia is held through Vodafamily Ethiopia Holding Limited, a jointly owned entity with Vodacom Group Limited. Vodafamily Ethiopia Holding Limited holds a controlling interest in Global Partnership for Ethiopia (GPE) B.V., the Netherlands-incorporated investment vehicle that in turn owns 100% of Safaricom Telecommunications Ethiopia Plc (STE), the licensed operating company in Ethiopia. Safaricom’s indirect effective interest in STE exceeds 50%, and the Group retains control over the investment. Accordingly, Vodafamily Ethiopia Holding Limited, GPE B.V. and STE are fully consolidated in Safaricom Plc’s financial statements, with the interests of other consortium partners presented as non-controlling interests, notwithstanding contractual “catch-up” rights held by those partners. KShs (Mn) ETB (Mn) HY27 HY26 HY27 HY26 Repairs and maintenance (10.1) (8.9) (12.5) (9.5) Operating lease cost - buildings** (44.9) (51.6) (55.5) (53.7) Operating lease cost - sites** (0.6) 3.0 (0.7) 3.0 Auditor’s remuneration (12.6) (10.8) (15.3) (11.3) Computer maintenance (446.2) (654.8) (547.7) (685.4) Consultancy (27.3) (113.5) (32.4) (118.6) Employee benefits expense (1,580.8) (1,559.2) (1,956.5) (1,639.9) Net foreign exchange gains, other than on borrowings and cash and cash equivalent (1,068.3) (9,394.9) (1,307.6) (9,878.6) Office administration (43.8) (37.7) (54.2) (39.3) Other operating expenses (1,131.1) (843.9) (1,396.7) (883.7) Sales and advertising (448.6) (311.9) (556.8) (326.6) Network operating costs (1,887.7) (2,191.8) (2,334.6) (2,297.5) Travel and accommodation (191.8) (199.3) (237.3) (208.2) Inventory storage costs (0.2) (1.2) (0.3) (1.3) Totals (6,893.9) (15,376.5) (8,508.1) (16,150.7) c. Other Operating Expenses ** Relates to non-lease components of the lease e.g. service charges, VAT disallowed on payments of leases. The cost is excluded from the measurement of the lease liability as provided for in IFRS 16.
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SAFARICOM PLC RESULTS BOOKLET 27 USD Mn 30-Sep-26 31-Mar-26 Equity 2,368 2,285 Local currency debt 163 126 Foreign currency debt (IFC, Standard Bank and ABSA) 311 238 Total Funding 2,842 2,649 Deferred vendor payables 40 89 Safaricom PLC’s Funding contribution 1,265 1,223 e. Funding of Safaricom Ethiopia Safaricom Ethiopia is funded through shareholder equity, deferred vendor payments and third-party borrowings. Shareholders of GPE contributed USD 2,842Mn as of 30 September 2026. This funding includes the license fee of USD 850Mn and the USD 150Mn M-PESA license fee. Safaricom PLC’s contribution amounts to USD 1,265Mn. The operating entity has also borrowed from the local market and is leveraged as shown in the table. Also included in the table are the closing outstanding amounts for the periods under the deferred vendor payments agreements As at 30 Sep 2026 As at 31 Mar 2026 Safaricom Plc 54.09% 54.17% Vodacom 6.01% 6.02% Sumitomo 23.56% 23.50% British International Investment (BII) 9.52% 9.50% IFC 6.82% 6.81% Total 100% 100% f. Safaricom Ethiopia Shareholding Status g. Unwinding Impact of IAS 29 Reporting Effective 30th June 2025, Ethiopia is no longer classified as a hyperinflationary economy under IAS 29, following a sustained decline in inflation indicators. As a result, Safaricom discontinued reporting under the hyperinflationary accounting standard (IAS 29) for its Ethiopian operations going forward. The cumulative inflationary adjustments will unwind gradually through the financial statements over the coming years, in line with the remaining useful lives of the restated nonmonetary assets and liabilities. These adjustments will affect revenues, direct costs, and depreciation and amortisation. The table below summarises the reporting impact of the discontinuation of IAS 29 on the Group’s consolidated financial statements for the period ended 30 September 2026. HY27 HY26 KShs Mns Reported IAS 29 Impact Normalised Reported IAS 29 Impact Normalised Revenue 233,683.2 (2.2) 233,685.4 204,708.2 3.5 204,704.7 Direct costs (57,549.2) (31.5) (57,517.7) (50,790.2) (130.8) (50,659.4) Depreciation- PPE (29,428.1) (1,418.7) (28,009.4) (27,283.3) (1,858.7) (25,424.6) Amortisation - RoU (3,889.3) (495.1) (3,394.2) (3,746.1) (369.6) (3,376.5) Amortisation - intangible assets (4,726.1) (1,476.5) (3,249.6) (4,852.8) (1,743.3) (3,109.5) Total (3,424.0) (4,099.0)
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SAFARICOM PLC RESULTS BOOKLET 28 4. ADDITIONAL DISCLOSURES ON SAFARICOM KENYA PERFORMANCE A. Financial Services/M-PESA i. M-PESA Revenue contribution, profile mix and customer evolution KShs Bns HY23 HY24 HY25 HY26 HY27 % Change HY27 % Contribution to Growth HY27 Consumer payments 20.05 24.46 29.93 35.74 40.76 14.0% 41.8% Business payments (C2B, B2C, B2B, LNM, Pochi) 12.58 17.64 22.77 27.04 31.02 14.7% 33.1% Withdrawals 17.84 18.55 18.62 18.49 18.39 (0.5%) (0.8%) Financial services (lending, savings & insurance) 4.97 4.03 4.02 4.60 7.12 55.3% 21.1% Global payments (remittances, AliExpress) 1.42 1.56 1.87 2.20 2.78 26.6% 4.9% Total 56.86 66.23 77.22 88.06 100.07 13.6% 100.0% Service Revenue (SR) 144.82 157.18 177.47 194.00 215.96 11.3% % of M-PESA to SR 39.3% 42.1% 43.5% 45.4% 46.3% 0.9ppt KShs Bns HY23 HY24 HY25 HY26 HY27 % Change HY27 % Contribution to Growth HY27 Consumer payments 2,358.0 2,922.8 3,670.5 4,417.5 5,123.4 16.0% 21.1% Business payments 11,424.5 11,162.6 10,423.0 10,451.5 12,353.1 18.2% 56.8% Withdrawals 1,160.7 1,229.2 1,320.6 1,411.8 1,496.4 6.0% 2.5% Financial services 393.7 550.2 625.6 906.0 1,429.7 57.8% 15.6% Global payments 206.8 260.9 277.4 321.0 415.0 29.3% 2.8% Deposits 2,931.1 2,708.6 2,920.8 2,701.1 2,739.8 1.4% 1.2% Total 18,474.7 18,834.3 19,237.9 20,209.0 23,557.3 16.6% 100.0% a) M-PESA Revenue, Values and Volumes ii. M-PESA Value of Transactions (KShs Bn) iii. M-PESA Total Volume of transactions (Mn) Mns HY23 HY24 HY25 HY26 HY27 % Change HY27 % Contribution to Growth HY27 Consumer payments 4,503.4 6,083.2 8,383.3 10,915.9 10,971.5 0.5% 1.0% Business payments 2,987.2 4,154.1 5,704.5 7,112.6 8,950.5 25.8% 33.3% Withdrawals 560.6 583.6 552.7 533.8 504.2 (5.5%) (0.5%) Financial services 994.8 1,622.3 1,930.1 2,526.4 6,138.1 143.0% 65.5% Global payments 16.6 20.5 22.5 29.5 36.1 22.3% 0.1% Deposits 573.4 624.2 686.5 748.5 783.2 4.6% 0.6% Total 9,636.0 13,088.0 17,279.7 21,866.7 27,383.6 25.2% 100.0%
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SAFARICOM PLC RESULTS BOOKLET 29 iv. M-PESA Chargeable and Unchargeable Value and Volume of transactions Basis points HY23 HY24 HY25 HY26 HY27 Consumer payments 38 43 45 50 52 Business payments 11 16 22 26 25 Withdrawals 154 151 141 131 123 Financial services 126 73 64 51 50 Global payments 69 60 68 68 67 Total 31 35 40 44 42 Basis points HY23 HY24 HY25 HY26 HY27 Consumer payments 90 89 88 87 85 Business payments 49 30 33 34 33 Withdrawals 154 151 141 131 123 Financial services 126 73 65 54 50 Global payments 69 60 68 68 67 Total (chargeable) 87 62 62 60 57 v. M-PESA Take Rates – Total Transactions vi. M-PESA Take Rates – Chargeable Transactions KShs Trns HY23 HY24 HY25 HY26 HY27 % Change HY27 % Contribution to Growth HY27 Chargeable value 6.5 10.7 12.5 14.7 17.5 19.0% 83.4% Non-chargeable value 11.9 8.2 6.7 5.5 6.1 10.1% 16.6% Total 18.5 18.8 19.2 20.2 23.6 16.6% 100.0% Bns HY23 HY24 HY25 HY26 HY27 % Change HY27 % Contribution to Growth HY27 Chargeable volume 3.9 5.7 7.2 8.7 12.9 48.2% 75.9% Non-chargeable volume 5.8 7.4 10.1 13.2 14.5 10.1% 24.1% Total 9.6 13.1 17.3 21.9 27.4 25.2% 100.0%
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SAFARICOM PLC RESULTS BOOKLET 30 Payments Value (KShs Bn) Volume (Mn) Revenue (KShs Bn) % Contribution to GrowthHY27 HY26 % YoY HY27 HY26 % YoY HY27 HY26 % YoY B2C 3,448.33 2,922.30 18.0% 544.99 491.53 10.9% 2.91 2.61 11.4% 7.5% C2B 3,913.49 3,613.70 8.3% 3,588.76 3,468.67 3.5% 19.36 17.59 10.1% 44.5% B2B* 593.78 392.64 51.2% 16.34 11.67 40.0% 0.42 0.28 52.1% 3.6% LNM 1,211.92 1,022.69 18.5% 2,887.77 1,985.37 45.5% 5.08 4.31 17.8% 19.3% Pochi 300.05 153.40 95.6% 1,796.49 1,083.44 65.8% 2.99 1.68 77.7% 32.8% Others** 297.98 218.60 36.3% 100.66 57.22 75.9% 0.27 0.58 (52.8%) (7.7%) Totals 9,765.55 8,323.32 17.3% 8,935.02 7,097.91 25.9% 31.02 27.04 14.7% 100.0% b) Business Payments *B2B excludes non-chargeable transactions **Inua Jamii, SurePay, HELB and M-PESA APIs
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SAFARICOM PLC RESULTS BOOKLET 31 HY27 HY26 % Change Fuliza Value of disbursements (KShs Bn) 1,157.5 629.2 84.0% Value or repayment (KShs Bn) 1,153.3 644.1 79.1% Repayment vs disbursal rate 99.6% 102.4% (2.7ppt) Average ticket size (KShs) 192.1 254.6 (24.6%) Revenue (KShs Bn) 4.9 2.6 86.0% Distinct customers (Mn) 17.2 9.1 88.9% KCB M-PESA Value of disbursements (KShs Bn) 39.8 35.1 13.3% Value or repayment (KShs Bn) 38.4 34.9 10.1% Repayment vs disbursal rate 96.7% 99.5% (2.8ppt) Average loan (KShs) 10,301 8,859 16.3% Revenue (KShs Bn) 0.5 0.5 11.9% One month active KCB M-PESA customers (Mn) 4.2 4.5 (7.0%) M-Shwari Value of disbursements (KShs Bn) 52.0 48.0 8.2% Value or repayment (KShs Bn) 54.7 51.9 5.5% Repayment vs disbursal rate 105.3% 108.0% (2.7ppt) Average loan (KShs) 7,085 9,186 (22.9%) Revenue (KShs Bn) 1.0 0.9 7.7% One month active M-Shwari customers (Mn) 7.4 7.9 (5.8%) Timiza Value of disbursements (KShs Bn) 16.3 13.7 18.5% Volume transacted (Mn) 1.2 1.0 14.0% Revenue (KShs Bn) 0.3 0.2 25.8% Active customers (k) 99.7 92.7 7.5% Merchant OD Value of disbursements (KShs Bn) 24.4 21.4 13.6% Volume (Mn) 7.1 5.4 31.1% Revenue (KShs Bn) 0.2 0.2 8.7% Customers (k) 61.6 43.7 41.0% Pochi Term Loan Value of disbursements (KShs Bn) 0.2 0.5 (60.9%) Volume (Mn) 0.01 0.02 (73.5%) Revenue (KShs Bn) 0.008 0.01 (24.1%) Customers (k) 1.0 2.4 (59.1%) c) Financial Services i. Lending
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SAFARICOM PLC RESULTS BOOKLET 32 HY27 HY26 % Change Wealth Management Active customers (Mn) 3.4 1.3 >100.0% Assets under management (KShs Bn) 25.6 15.1 69.7% Revenue (KShs Bn) 0.1 0.1 69.8% Insurance Policies issued (K) 67.5 7.1 >100.0% Gross premium (KShs Mn) 12.7 1.4 >100.0% ii. Wealth Management and Insurance HY27 HY26 % Change M-PESA Visa Card Active customers (k) 356.6 245.4 45.3% Volume transacted (Mn) 5.1 3.7 38.4% Value transacted (KShs Bn) 7.7 5.1 50.2% Revenue (KShs Bn) 0.35 0.24 49.2% M-PESA Global (International Money Transfer) Distinct customers (Mn) 1.7 1.3 23.4% Volume transacted (Mn) 27.3 23.1 18.4% Value transacted (KShs Bn) 371.2 296.5 25.2% Revenue (KShs Bn) 2.30 1.84 24.6% d) Global Payments M-PESA Global (International Money Transfer) Launched in FY19, M-PESA Global service enables M-PESA registered customers to send and receive money from countries across the world. M-PESA Global service remittance partnerships include: Western Union, MoneyGram, Ria, WorldRemit, Wave, Remitly, among others.
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SAFARICOM PLC RESULTS BOOKLET 33 KShs Bns HY23 HY24 HY25 HY26 HY27 % Change HY27 % Contribution to Growth HY27 Voice outgoing 39.88 38.69 40.55 39.72 42.20 6.2% 33.4% Mobile data 26.29 29.59 35.55 40.32 45.24 12.2% 66.5% Messaging 5.42 5.75 6.20 5.48 5.01 (8.6%) (6.3%) Mobile incoming 4.42 3.94 3.75 4.44 4.71 6.1% 3.7% Other SR 4.83 5.18 5.25 6.02 6.23 3.5% 2.8% Total 80.84 83.14 91.31 95.98 103.38 7.7% 100.0% Service Revenue (SR) - Kenya 144.82 157.18 177.47 194.00 215.96 11.3% % of connectivity to SR 55.8% 52.9% 51.5% 49.5% 47.9% (1.6%) Customers (K) HY23 HY24 HY25 HY26 HY27 % Change HY27 Rate per MB (Cents) 6.85 6.18 6.39 5.64 5.03 (10.8%) Average GBs per user 3.28 3.66 4.02 4.85 5.31 9.4% B. Connectivity Business i. Connectivity Revenue contribution and Profile mix 4G+ Devices (Mn) Mobile Data ARPU (KShs) Mobile Data Revenue (KShs Bn) HY27 HY26 % YoY HY27 HY26 % YoY HY27 HY26 % YoY Mobile data 34.30 25.70 33.5% 273.54 280.31 (2.4%) 45.24 40.32 12.2% ii. Mobile Data Additional Mobile Data KPIs
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SAFARICOM PLC RESULTS BOOKLET 34 KShs Bn HY23 HY24 HY25 HY26 HY27 % Change HY27 % Contribution to Growth HY27 Consumer fixed 2.34 3.01 3.71 4.31 5.17 19.9% 33.7% Enterprise fixed 3.05 3.12 3.48 3.47 3.78 8.8% 12.0% ICT 0.66 0.43 0.66 0.74 1.17 56.8% 16.6% Wholesale 0.70 0.80 0 .61 0.68 0.91 34.4% 9.1% IoT 0.35 0.45 0.48 0.57 0.67 17.1% 3.8% Public sector - - - 0.19 0.82 331.8% 24.8% Totals 7.11 7.82 8.93 9.96 12.51 25.5% 100.0% Service Revenue (SR) 144.82 157.18 177.47 194.00 215.96 11.3% % of Connectivity to SR 4.9% 5.0% 5.0% 5.1% 5.8% 0.7% ‘000s’ HY23 HY24 HY25 HY26 HY27 % Change HY27 FTTH 173.2 223.2 262.9 355.2 474.4 33.6% FTTB 54.5 54.7 66.2 77.2 95.4 23.6% Total Fixed Service 227.8 277.9 329.0 432.4 569.9 31.8% IoT Customers 1,397.4 1,472.6 1,633.1 1,809.3 2,403.4 32.8% C. Fixed Service & IoT i. Revenue ii. Customers
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SAFARICOM PLC RESULTS BOOKLET 35 5. APPENDIX a. Consolidated statement of comprehensive income – Safaricom Kenya KShs Mns Notes HY27 HY26 Connectivity revenue 103,383.8 96,166.8 Voice revenue 42,197.3 39,721.5 Messaging revenue 5,005.7 5,476.0 Mobile data revenue 45,242.3 40,319.8 Mobile incoming revenue 4,705.6 4,435.1 Other mobile service revenue 6,232.9 6,214.4 M-PESA revenue 100,071.1 88,055.8 Mobile service revenue 203,454.9 184,222.6 Fixed service & IoT revenue 12,508.1 9,774.3 Service revenue 3 215,962.9 193,997.0 Handset revenue and other revenue 4,941.1 2,440.1 Other income 2,476.6 2,181.3 Total revenue 223,380.6 198,618.4 Direct costs 3 (53,460.5) (47,577.2) Expected credit losses on financial assets (2,994.6) (2,472.0) Contribution margin 166,925.5 148,569.2 Contribution margin % 74.7% 74.8% Other operating expenses 3 (37,987.8) (34,744.6) Earnings/(loss) before interest, tax, depreciation and amortisation (EBITDA) 128,937.7 113,824.6 EBITDA margin % 57.7% 57.3% Depreciation, impairment & amortisation (27,124.7) (24,290.3) Operating profit (EBIT)/(loss) 101,813.0 89,534.3 Operating profit margin % 45.6% 45.1% Net finance cost (4,988.2) (5,312.0) Share of profit of associate & joint venture 95.7 (81.9) Profit/(loss) before income tax 96,920.5 84,140.3 Income tax expense (30,649.8) (25,897.3) Profit/(loss) after tax 66,270.7 58,243.0 Attributable to: Equity holders of the parent 66,270.7 58,243.0 Non-controlling interests - - Profit/(loss) for the period 66,270.7 58,243.0
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SAFARICOM PLC RESULTS BOOKLET 36 KShs ‘Mns ETB ‘Mns Notes HY27 HY26 HY27 HY26 Connectivity 10,410.8 6,085.3 12,883.8 6,393.2 Voice revenue 1,655.0 1,368.7 2,045.5 1,440.6 Messaging revenue 128.3 74.2 158.5 77.9 Mobile data revenue 7,852.1 4,128.0 9,719.2 4,332.6 Mobile incoming revenue 362.1 325.3 447.0 342.6 Other mobile service revenue 413.3 189.1 513.7 199.4 M-PESA revenue 10.1 8.7 12.5 9.0 Mobile service revenue 10,420.9 6,094.0 12,896.3 6,402.3 Fixed service & IoT revenue 195.0 93.0 241.4 97.9 Service revenue 3D.a 10,615.9 6,187.0 13,137.7 6,500.2 Handset revenue and other revenue 545.4 163.1 682.0 171.9 Other income 2.0 58.4 3.7 63.0 Total revenue 11,163.3 6,408.5 13,823.4 6,735.1 Direct costs 3D.b (4,604.6) (3,531.6) (5,703.2) (3,712.2) Expected credit loss (ECL) on financial assets (99.2) (56.9) (122.9) (58.1) Contribution margin 6,459.5 2,820.0 7,997.3 2,964.8 Contribution margin % 57.9% 44.0% 57.9% 44.0% Other operating expenses 3D.c (6,893.9) (15,376.5) (8,507.9) (16,150.7) Loss before interest, tax, depreciation and amortisation (434.4) (12,556.5) (510.6) (13,185.9) EBITDA margin % (3.9%) (195.9%) (3.7%) -195.8% Depreciation & amortisation (10,918.8) (11,784.1) (13,505.7) (12,355.4) Operating loss (11,353.1) (24,340.6) (14,016.3) (25,541.3) Operating loss margin % (101.7%) (379.8%) (101.4%) (379.2%) Net finance cost (4,922.0) (4,579.7) (6,098.1) (4,855.0) Loss before income tax (16,275.1) (28,920.3) (20,114.4) (30,396.3) Income tax expense (325.9) (152.6) (404.2) (170.2) Loss after tax (16,601.0) (29,073.0) (20,518.6) (30,566.5) b. Consolidated statement of profit or loss – Safaricom Telecommunications Ethiopia (STE) Plc (in KShs & ETB) Conversion of ETB to KShs at an average exchange rate of KShs 0.8088 to ETB in HY27 (HY26: 0.9553)
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SAFARICOM PLC RESULTS BOOKLET 37 Glossary i. Description of M-PESA Profile Item Description Transfers (P2P) All person-to-person funds transfer transactions to a registered /Unregistered M-PESA subscriber (Excludes transfers or payments to businesses). M-PESA Agents A business that has been onboarded to facilitate the transformation of cash to e-value via deposit and vice versa via withdrawal. An M-PESA agent may also be authorized to onboard new subscribers onto Safaricom or M-PESA as well as other sales and cross-sell activities at a commission. Withdrawals/ Cash out All financial transactions that involve a customer receiving cash from an M-PESA agent or ATM, withdrawn from their M-PESA wallet. Deposits/ Cash in All financial transactions that involve a customer giving cash to an M-PESA agent in exchange e-value into their M-PESA wallet. Payments C2B, B2C and B2B C2B (Paybill) All person-to-business transactions which involve transfer of funds from a customer to a business till (typically involving large business & excludes agent deposits or payments to medium or small businesses). B2C All business-to-person transactions which involve a transfer of funds from a business till to an individual customer (typically done by large business & excludes agent withdrawals). B2B All Business-to-Business transactions which involve transfer of funds from one business till to another business till (Excludes fund transfers within the same business to facilitate business operations). Lipa Na M-PESA (LNM) All financial transactions that involve payments into or out of Lipa na M-PESA tills (Buy Goods & transacting till). LNM has two major use cases; • Buy Goods - mainly used for one-off payments to merchants, this is done ‘on the go’, mainly face to face but can also be done remotely. Transacting Tills/Business Tills- The M-PESA Business till is an enhancement of the existing Lipa Na M-PESA Buy Goods till that enables business owners to collect payments on the till and use the money collected to make other transactions directly from their till. Pochi La Biashara Pochi La Biashara, translated to ‘Business Wallet’ in English, is a product that allows M-PESA registered customers who own informal businesses such as; food vendors, kiosk owners, boda-boda operators, second hand clothes dealers, etc. to receive and separate business funds from personal funds on their M-PESA line. Savings and Lending M-Shwari The M-Shwari is a micro-credit product which allows customers to borrow money or to complement their savings towards an investment or enterprise. The M-Shwari Deposit Account is a micro-savings product which allows customers to securely store their money for a specific purpose or for unexpected events. Safaricom provides support to NCBA (a tier 1 Kenyan Bank) in the roll-out of this product. KCB-M-PESA The KCB M-PESA is a micro-credit product which gives customers access to loans for an emergency or to fund a project or an enterprise. Safaricom provides support to KCB (a tier 1 Kenyan Bank) in the roll-out of this product.
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SAFARICOM PLC RESULTS BOOKLET 38 Fuliza In partnership with Kenyan lenders, NCBA, KCB and Sidian Bank, Safaricom Kenya operates an Overdraft (OD) facility dubbed ‘Fuliza’, a product that enables customers to access unsecured line of credit by overdrawing on M-PESA to cover short-term cash-flow shortfalls subject to an applicable pre-determined limit. Fuliza is available to all M-PESA customers, however the awarding of limits will depend on the customer’s credit scoring and how long they have been using M-PESA. Customers who ‘opt in’ on Fuliza are charged a one-off access fee and daily maintenance fees on unpaid loan amounts based on a pre-determined matrix. Timiza In partnership with ABSA Kenya, Timiza is a wallet solution that offers easy banking and instant loans to customers. Through *848# or the Timiza app customers are able to get an instant loan, save, send money, pay bills, purchase airtime, and get insurance with Timiza. Overdraft facility for businesses (Merchant OD) Merchant OD is a loan product in partnership with KCB Bank Kenya (KCB). The service enables business owners on Lipa Na M-PESA to complete payments even with insufficient funds in their till. The service applies when making transactions from a Lipa Na M-PESA Business Till to other Till Numbers and PayBill Numbers, when sending money to an individual, and when withdrawing to the nominated number or at an Agent. The service advances an overdraft of up to KShs 400,000 depending on the business’ limit. The overdraft is offered a 2% one off fee and a tiered daily access fee after the 24-hour free period. Taasi Pochi (Pochi Term Loan) Taasi Pochi is a short-term credit facility in partnership with Sidian Bank and Pezesha Africa Limited, (Pezesha Africa Limited is a Kenyan fintech company that builds and provides digital lending infrastructure for small and medium-sized businesses (SMEs) in Sub-Saharan Africa) It provides instant loans ranging from KES 1,000 to KES 250,000 to businesses that operate through the Pochi La Biashara wallet. To qualify, a business must have at least six months of active transactions on the wallet. Taasi Till (Merchant Term Loan) Taasi Till (Merchant Term Loan) is a financial product provided by Safaricom in partnership with Diamond Trust Bank (DTB) and Asante Finance, (Asante Financial Services Group, is a digital, credit-led neo-bank that provides financial services to Micro, Small, and Medium-sized Enterprises (MSMEs) and individuals in Sub- Saharan Africa) targeting businesses that use the Lipa Na M-PESA Buy Goods Till. It offers short-term loans ranging from KES 100 to KES 200,000, with repayment periods of 1, 7, or 21 days. Eligible businesses must have operated the till for at least three months and can only hold one loan per till at a time. Ziidi MMF Ziidi MMF is a mobile-based money market fund jointly offered by Safaricom (NSE: SCOM), Standard Investment Bank and ALA Capital Limited. The fund enables customers to invest directly from their M-PESA wallets, earning daily-accrued interest credited to their Ziidi wallet. Regulated by the Capital Markets Authority (CMA), Ziidi MMF offers transparent daily yields, simple onboarding via the M-PESA App or USSD (3345#), and no maximum investment limit, with the daily M-PESA transaction limit of KES 500,000 and a per-transaction limit of KES 250,000 applying. Ziidi Shariah complements the offering by expanding the ecosystem to provide inclusive, Shariah-compliant investment options – The current yield stands at 5.8% Ziidi Trader Ziidi Trader is a mobile-based share-trading platform jointly offered by Safaricom (NSE: SCOM), Nairobi Securities Exchange (NSE) and Kestrel Capital (EA) Limited, a licensed investment bank and stockbroker in Kenya. Accessible through the M-PESA App, the platform enables customers to buy and sell NSE-listed shares and corporate bonds directly from their mobile phones, monitor portfolios, and access market insights through a fully digital experience. Operating under the oversight of the Capital Markets Authority (CMA), Ziidi Trader ensures investor protection, transparency, and market integrity, while supporting informed long-term investing through clear disclosures and investor education. The platform allows customers to begin investing from as little as one share, providing a simple, secure, and fully digital access point to Kenya’s capital markets.
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SAFARICOM PLC RESULTS BOOKLET 39 IMT International Money Transfer (IMT) M-PESA Global Safaricom Plc through its fully owned subsidiary, Safaricom Money Transfer Services Limited (SMTSL), operates remittance services that allows customers to send and receive money to a beneficiary through registered mobile phone numbers in partnership with third party International Money Remittance (IMT) providers. Revenue is earned from transaction fees charged to customers for international money transfers (inbound and outbound). M-PESA global enables M-PESA registered customers to send and receive money: 1. To East Africa: Rwanda, Tanzania & Uganda. 2. Globally: To millions of Bank accounts and over 500,000 Western Union locations globally. 3. Through PayPal: Access funds quickly and shop around the world with PayPal mobile money service with M-PESA. M-PESA GlobalPay Virtual VISA Card M-PESA GlobalPay Virtual VISA Card is a digital prepaid card, launched by Safaricom in partnership with VISA, that links to a user’s M-PESA wallet. The virtual card enables users to make payments to international online merchants for goods and services using their card details. The M-PESA GlobalPay virtual VISA card is only used to facilitate CNP (Card Not Present) global payments. Local Payments (those denominated in Kenya shillings) still continue to use the pochi, buygoods or paybill propositions AliPay Partnership M-PESA is an integrated into AliPay as a payment method on AliExpress e-commerce. E-Commerce Paypal Partnership Safaricom, PayPal and TransferTo announced a collaboration on 9 April 2018 for a new service that allows movement of funds between M-PESA and PayPal accounts. Qualifying M-PESA customers in Kenya can link their PayPal accounts to their M-PESA wallets, enabling them to easily and securely buy goods and services from merchants around the globe. Smart Lifestyle Channels M-PESA Consumer App The M-PESA App for consumers delivers the suite of M-PESA solutions to our consumers in a customer centric approach. This has redesigned the M-PESA customer experience journey to reduce demand in Call Centre and simplify multiple payments. It serves as a one stop shop for our customers with smartphone devices for various solutions. M-PESA Business App M-PESA for Business App allows merchants, agents and businesses to better visualize their collections and spend, see full statements and transact directly from their M-PESA Business till. The App provides users with a faster and simpler payment experience. Its an alternative to the USSD service *234# Option 2. M-PESA Bill Manager This is a service that allows customers to invoice and reconcile payments against the invoices, memorizing all Paybills and account numbers and better still, a way for them to be reminded of the bill payment due dates. This is a solutions targeted to billers only. It can be accessed by dialling *234# then selecting M-PESA Products followed by Bill Manager. Insurance Safaricom Insurance Agency Limited, a subsidiary of Safaricom PLC is a fully licensed Agency offering insurance services. Agency services were launched in August 2024 with insurance services embedded on devices sold through Safaricom’s retail channels.
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SAFARICOM PLC RESULTS BOOKLET 40 Other Disclosures Chargeable transactions Chargeable transactions - Includes all complete financial transactions that are initiated by a customer that are eligible for charging Charged transaction - Includes all complete financial transactions that are initiated by a customer for which M-PESA is compensated either by the customer or a partner Zero-Rated (Business decision) - Includes all complete financial transactions that are initiated by a customer for which M-PESA has made a business decision not to charge Example 1: All buy-goods transactions originating from the Safaricom dealer network are zero-rated (Including those above Kes 200 Zero-Rated (Regulatory Mandate) - Includes all complete financial transactions that are initiated by a customer that we are mandated not to charge by a regulator Example 1: Kadogo Transactions – This is a low value financial transaction below Kes 101 on P2P transfers, pochi and pay bill and below Kes 201 on buy goods that are zero-rated under the approved Central Bank of Kenya Tariff. Notable exceptions may be applied to the above general rule from time to time.
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SAFARICOM PLC RESULTS BOOKLET 41 Abbreviation ARPU Average revenue per user CAGR Compound Annual Growth Rate Churn Total gross customer disconnections in the period divided by the average total customers in the period CVM Customer Value Management 2G Second-generation Technology 3G Third-generation Technology 4G Fourth-generation Technology FTTH Fibre to the Home Bn Billion LNM Lipa na M-PESA LTE Long-Term Evolution Mn Million MTR Mobile Termination Rate MSMEs Micro Small and Medium Enterprises IFRS International Financial Reporting Standards IoT Internet of Things MB Megabyte Ppt Percentage points SMS Short Message Service ROU Rights of Use Trn Trillion AML Anti-money Laundering KYC Know Y our Customer YoY Y ear-on-year AI Artificial Intelligence GBs Gigabytes
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Safaricom PLC (Incorporated in the Republic of Kenya) Registered office Safaricom House, Waiyaki Way, Westlands P.O. Box 66827-00800, Nairobi Telephone: +254 722 00 3272 Website: www.safaricom.co.ke Registrars Image Registrars Limited 5th Floor, Absa Plaza, Loita Street P.O. Box 928-00100, Nairobi Telephone: +254 709 170 000 Email; Info@image.co.ke Website: www.image.co.ke Auditors Ernst & Y oung LLP Kenya Re Towers, Off Ragati Road P.O. Box 44286-00100, Nairobi Telephone: +254 20 2886000 Investor Relations Safaricom House, Waiyaki Way, Westlands P.O. Box 66827-00800, Nairobi Telephone: +254 722 00 6218/4233/4746 Email: investorrelations@safaricom.co.ke Website: www.safaricom.co.ke/investor-relations Corporate Information