Slides
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OOREDOO GROUP Results presentation For the six-month period ended 30 June 2026
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1 Disclaimer • Ooredoo (parent company Ooredoo Q.P.S.C.) and the group of companies which it forms part of (“Ooredoo Group”) cautions investors that certain statements contained in this document state Ooredoo Group management's intentions, hopes, beliefs, expectations, or predictions of the future and, assuch, are forward-looking statements • Ooredoo Group management wishes to further caution the reader that forward-looking statements are not historical facts and are only estimates or predictions. Actual results may differ materially from those projected as a result of risks and uncertainties including, but not limited to: o Our ability to manage domestic and international growth and maintain a high level of customer service o Future sales growth o Market acceptance of our product and service offerings o Our ability to secure adequate financing or equity capital to fund our operations o Network expansion o Performance of our network and equipment o Our ability to enter into strategic alliances or transactions o Cooperation of incumbent local exchange carriers in provisioning lines and interconnecting our equipment o Regulatory approval processes o Changes in technology o Price competition o Other market conditions and associated risks • This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire or dispose of securities in any company within the Ooredoo Group • The Ooredoo Group undertakes no obligation to update publicly or otherwise any forward-looking statements, whether as a result of future events, new information, or otherwise • All figures in this presentation are rounded for ease of reference. As a result, totals may not sum precisely due to rounding
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2 Presenters Aziz Aluthman Fakhroo Group CEO Operations review Strategy and Results review Fadi Abdellatif Deputy Group CFO
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3 Overview of H1 2026 3 Sustained service revenue momentum, margin improvement and tangible strategic progress OPERATIONAL MOMENTUM STRATEGIC EXECUTION STRONGER PROFITABILITY FINANCIAL FLEXIBILITY Growth and resilience across the diversified portfolio Building scalable platforms beyond the core EBITDA growth and margin expansion Well positioned to fund the next phase of growth Growth markets maintained strong momentum, supported by data and digital services demand with increasing customers Core markets remained resilient, with healthy service revenue trends despite external headwinds Al Abraj launch marked the first operational carve-out under Ooredoo's TowerCo strategy, managing tower assets in Qatar Data centre and fintech platforms continued to scale, supporting future growth and diversification Strong cash generation and disciplined capital allocation reinforced Ooredoo’s financial flexibility Balance-sheet strength provides meaningful flexibility across growth initiatives and shareholder returns Revenue growth translated into stronger EBITDA performance EBITDA margin expansion supported by cost discipline and revenue mix changes in selected markets
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4 STRATEGIC PROGRESS Aziz Aluthman Fakhroo | Group CEO
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5 8 2 5 5 87% 7%6% Qatar Kuwait Tunisia Active Data Centers Medium/Long term targets CURRENT FOOTPRINT EXPANSION PROGRAM H1 RESULTS 7.5 MW under construction Active IT Capacity # of countries with Syntys presence 3 30 IT capacity (MW) 15 Active data centers Qatar Kuwait Tunisia Qatar Kuwait Tunisia QAR 112 million Revenue EBITDA QAR 46 million 70% Revenue in Qatar from hyperscalers Of active data center’s capacity87% Capacity led by Qatar Qatar dominates our footprint Data Centers8 • USD 1 billion planned investment • Initial funding of ~USD 550 million • Scale to 120 MW IT capacity Scalable regional data center platform enabling hyperscalers, AI clusters, and colocation wholesalers to expand across strategic markets Data Centers | Accelerating MENA’s digital future
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6 Ooredoo Fintech | Continued expansion across group footprint In H1 2026 Across Live Markets 2 License process QAR 6 billion 6 Qatar and Oman scaling rapidly; Tunisia live and Iraq in Build phase INTERNATIONAL REMITTANCE USERS MARKETS 500k+ 4 Live & 1 Build Phase MARKET DEVELOPMENT JOURNEY OUR FOOTPRINT ACROSS MENA OOREDOO FINTECH ECOSYSTEM License Process Build Phase LIVE Kuwait Algeria Iraq Qatar Oman License Application Submitted QATAR (H1 2026) OMAN (H1 2026) TUNISIA IRAQ 400k+ 100k+ Users Large-scale Market 21% Market share in int’l remittance QAR 21m EBITDA momentum continues (+32% YoY) Users Live since Q1 2025 QAR 473m Int’l remittance in H1 2026 Inbound remittance approved by CBO Live on Google Play Store Third greenfield, license granted in Q3 2025 Finalization of company incorporation and infra’ deployment App development commenced Private Beta in H1 2027 Live Build Phase License Process Maldives License Application Submitted Tunisia Marketing starts in H2 QAR 51 m +16% YoY NET REVENUE In H1 2026 QAR 75 m +14% YoY GROSS REVENUE In H1 2026
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7 RESULTS REVIEW Aziz Aluthman Fakhroo | Group CEO
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8 Key H1 2026 YoY Highlights 8 Profitability Balance Sheet Returns EBITDA1 EBITDA Margin Net Profit Capex Intensity Capex Free Cash Flow +7.4% QAR 5.5 billion +7.7% QAR 3.9 billion 0.6x+1.2pp 44.4% Growth Revenue Customers +4.6% QAR 12.5 billion +4.2% 54.0 million +0.1% 147.5 million (inc. IOH) -5.1% QAR 1.8 billion Stable at 12.9% QAR 1.6 billion 1 EBITDA = Revenue - Operating expenses + Share of results from associates and joint ventures 2 Adjusted in H1 2026 for: i) Gain on divestment of PT Infra Fibre by IOH (QAR 69 million) 3 Adjusted in H1 2026 for: i) Legal provision in Algeria (QAR -208 million); ii) Foreign exchange (QAR -5 million) Strong execution delivered solid H1 results despite ongoing regional pressures Net Debt/ EBITDA1 (Normalised2: +6.1%) (Normalised2: +0.6pp to 43.8%) (Normalised2,3: +3.7%) (Normalised2: +5.8%)
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9 Key Q2 2026 YoY Highlights 9 Profitability Balance Sheet Returns EBITDA1 EBITDA Margin Net Profit Capex Intensity Capex Free Cash Flow +8.0% QAR 2.8 billion +10.8% QAR 1.8 billion 0.6x +2.0pp 45.0% Growth Revenue Customers +3.2% QAR 6.3 billion +4.2% 54.0 million +0.1% 147.5 million (inc. IOH) -14.6% QAR 0.8 billion Stable at 16.0% QAR 1.0 billion Revenue growth translated into stronger profitability, improved margins and higher free cash flow Net Debt/ EBITDA1 (Normalised2: +5.3%) (Normalised2: +0.9pp to 43.9%) (Normalised2,3: +1.9%) (Normalised2: +6.5%) 1 EBITDA = Revenue - Operating expenses + Share of results from associates and joint ventures 2 Adjusted in Q2 2026 for: i) Gain on divestment of PT Infra Fibre by IOH (QAR 69 million) 3 Adjusted in Q2 2026 for: i) Legal provision in Algeria (QAR -208 million) ii) Foreign exchange (QAR 4 million)
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10 123 41 36 23 122 6,064 (1) (14) (60) (75) 6,259 Group Q2-25 Algeria Tunisia Iraq Palestine Maldives Oman Kuwait Qatar Others Group Q2-26 Revenue Solid growth driven by continued service revenue momentum 10 Revenue Breakdown by Market Highlights (Q2 2026) H1 2026 Qatar Iraq Algeria Kuwait Oman Tunisia Maldives Palestine Others Key Takeaways (H1 2026)Group Revenue QAR mn (H1 2026) Quarterly YoY Change QAR mn, %YoY (Q2 2026) 1H-25 1H-26 +4.6% YoY YoY Change +195 Top 3 markets (Qatar, Iraq, Algeria) contributed 65% of group revenue 4 of 8 Markets delivered stable or positive revenue growth Revenue grew by 4.6% YoY, supported by continued customer base expansion in the growth markets and resilient service revenues across the core markets. Algeria, Tunisia and Iraq delivered strong growth, driven by customer acquisition and sustained demand for data services. Qatar, Kuwait and Oman faced device-related revenue pressure, due to regional situation, while service revenues remained healthy. Maldives revenue was broadly stable, with growth in core services largely offsetting pressure from lower tourism-related activity due to regional situation. +3.2% YoY Group Revenue growth 15.7% 2.6% 24.8% -0.6% -2.4% -4.0% 11,914 12,457 29% 22%14% 12% 9% 7% 2% 2% 2% -7.4%9.6%
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11 34 20 18 13 10 7 6 101 2,607 (1) 2,815 Group Q2-25 Algeria Iraq Qatar Palestine Tunisia Oman Kuwait Maldives Others Group Q2-26 EBITDA EBITDA growth and margin expansion driven by disciplined execution and change in revenue mix 11 EBITDA Breakdown by Market Highlights (Q2 2026) H1 2026 Qatar Iraq Algeria Kuwait Oman Tunisia Maldives Palestine Others Key Takeaways (H1 2026)Group EBITDA QAR mn (H1 2026) Quarterly YoY Change QAR mn, %YoY (Q2 2026) 1H-25 1H-26 +7.4% YoY YoY Change +208 Top 3 markets (Qatar, Iraq, Algeria) contributed 71% of group EBITDA 7 of 8 Markets delivered positive EBITDA growth EBITDA grew by 7.4% YoY, supported by strong operational performance and cost efficiencies (normalised: 6.1% YoY). EBITDA margin sustained its positive trajectory, increasing by 1.2pp YoY to 44.4% (normalised: 0.6pp YoY to 43.8%). Margin expansion supported by cost discipline and changes in revenue mix across selected markets, reflecting lower device sales. +8.0% YoY Group EBITDA Growth 9.2% 3.2% 1.9% 35.2% 5.3% 2.6% 2.1% -1.4% 5,145 5,528 43.2% 44.4% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 5,500 6,000 34% 23% 14% 10% 10% 7% 3% 2% -2%
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12 1,849 5 208 -69 1,992 1H-26 Reported FX impact Algeria legal provision IOH Gain on divest. of Infra Fibre 1H-26 Normalised 1,921 1,948 -32 5 1H-25 Reported FX impact Impairment 1H-25 Normalised Net Profit | Reported and Normalised (H1 2026) Operating performance continues to support net profit growth 12 H1 2026H1 2025 Net profit attributable to Ooredoo shareholders QAR mn Reported 1H-25 1H-26 -5.1% 1H-25 1H-26 Normalised +3.7% 1,948 1,849 1,921 1,992 Net Profit reconciliation Reported to Normalised QAR mn
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13 843 -4 208 -69 978 Q2-26 Reported FX impact Algeria legal provision IOH Gain on divest. of Infra Fibre Q2-26 Normalised 959 988 -34 5 Q2-25 Reported FX impact Impairment Q2-25 Normalised Net Profit | Reported and Normalised (Q2 2026) Operating performance continues to support net profit growth Net Profit reconciliation Reported to Normalised QAR mn Net profit attributable to Ooredoo shareholders QAR mn 13 Reported Q2-25 Q2-26 -14.6% Q2-25 Q2-26 Normalised Q2 2026Q2 2025 +1.9% 988 843 959 978
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14 1,509 1,611 12.7% 12.9% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 400 600 800 1,000 1,200 1,400 1,600 1,800 Qatar Iraq Algeria Kuwait Oman Tunisia Maldives Palestine Others Syntys Capex Disciplined capex execution to strengthen market leadership and network quality 14 Capex Breakdown per Segment Highlights (Q2 2026) H1 2026 Key Takeaways (H1 2026) Group Capex | Capex/Revenues QAR mn, % (H1 2026) Capex YoY Change QAR mn (H1 2026) 1H-25 1H-26 +6.8% YoY QAR 1,004 million Total Capex +3.3% YoY 7 of 8 OPCO’s increased Capex, focusing on network growth strategy Capex Breakdown per OPCO H1 2026 Network Others Syntys IT 75% 9% 9% 7% 25% 16% 14% 14% 12% 8% 7% 1% 2% -180 -42 0 6 9 14 20 40 63 172 Iraq Syntys Maldives Oman Palestine Kuwait Others Tunisia Qatar Algeria Kuwait: Site rollout investments and major transformations projects for IT and network Algeria: Ongoing network investments driven by new site rollouts and 5G expansion Tunisia: Reflecting increased investment in network and FTTH expansion Iraq: Network rollout impacted by shipment delays Qatar: Network infrastructure and IT projects
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15 140 9 0 (2) (7) (22) (30) (89) 176 1,635 1,811 Group Q2-25 Iraq Palestine Oman Maldives Qatar Tunisia Kuwait Algeria Others Group Q2-26 3,636 3,917 Free Cashflow (FCF: EBITDA-Capex) Strong cash generation supported by operational performance 15 FCF Breakdown by Market Highlights (Q2 2026) H1 2026 Qatar Iraq Algeria Kuwait Oman Tunisia Maldives Palestine Others Key Takeaways (H1 2026)Group FCF QAR mn (H1 2026) Quarterly YoY Change QAR mn (Q2 2026) 1H-25 1H-26 +7.7% YoY YoY Change +176 Top 3 markets (Qatar, Iraq, Kuwait) contributed 79% of group revenue 3 of 8 Markets delivered stable or positive FCF growth Strong operational performance drove FCF to QAR 3.9 billion, up 7.7% YoY. Higher Iraq FCF was due to impacted network rollout from shipment delays, while lower Algeria FCF reflected accelerated capex to support mobile network expansion. Others increased, driven mainly by strong operational performance in IOH. +10.8% YoY Group FCF Growth 43% 26% 11% 9% 9% 4% 3% 2% -7%
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16 1,412 748 268 32 14 (23) (99) (175) 54,042 51,864 Group Q2-25 Algeria Iraq Tunisia Qatar Maldives Palestine Kuwait Oman Group Q2-26 Customers Strengthening market presence in key growth markets, supported by sustained customer growth 16 Customers Breakdown by Market Highlights (Q2 2026) H1 2026 Key Takeaways (H1 2026)Group Customers In mn (H1 2026) Customers YoY Change ‘000 1H-25 1H-26 +4.2% YoY YoY Change +2,178 Top 3 markets (Iraq, Algeria, Tunisia) represents 80% of group customers* 5 of 8 Markets delivered stable or positive customer base growth Solid increase of 4.2% YoY in customer base, with our network serving 54.0 million customers. Strong net additions in Algeria and Iraq driven by continued growth in prepaid segment, and in Tunisia, supported by continued fixed demand and FWA expansion. IOH customers declined by 2.1% to 93.4 million. Including IOH, total customer base stood at 147.5 million. Customer base decrease in Kuwait is mainly driven by limited device availability; and in Oman due to ongoing competition in mobile segment. +4.2% YoY Customer base Growth * Excluding IOH 51.9 54.0 Qatar Iraq Algeria Kuwait Oman Tunisia Maldives Palestine 37% 29% 14% 6% 5% 5% 3% 1%
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17 Debt and Liquidity Robust liquidity and low leverage with investment-grade ratings 17 Key TakeawaysLiquidity & Repayment schedule Net Debt/EBITDA ratio of 0.6x, below current Board guidance of 1.5x to 2.5x Strong liquidity position (combination of cash & undrawn RCFs) QAR 6.4bn (~USD 1.7bn) undrawn committed facilities available (USD 950m at Ooredoo Qatar and USD 794m equivalent at OPCOs) Balanced and long maturity profile 11,205 9,104 2,101 Group Qatar Others Borrowings by operations 0.7 0.6 0.4 0.6 0.6 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Net Debt/EBITDA ratio (x) 9,104 2,101 Bonds Loans Drawn debt by source Ratings A/STABLE A2/STABLE Minimal interest rate risk with 84% fixed-rate debt share S&P and Moody’s maintains investment grade rating 9,391 84% 1,814 16% Fixed Floating Fixed vs Floating rate portion QAR mn 10,921 324 189 1,945 135 58 8,554 6,351 Cash & Undrawn facilities 2026 2027 2028 2029 2030 > 2031
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18 Guidance achievement progress Strong first half performance keeps us on track to deliver our FY 2026 guidance 18 KPI Actual H1 2026 Change YoY FY 2026 Guidance QAR 12.5 billion 43.8% QAR 1.6 billion +4.6% +0.6pp +6.8% 3%-5% Low 40%’s QAR 5.0-6.5 billion Revenue EBITDA1 Margin Capex 1 Normalised EBITDA
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19 OPERATIONS REVIEW Fadi Abdellatif | Deputy Group CFO
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20 935 935 956 938 953 1,856 1,728 1,904 1,811 1,781 50.4% 54.1% 50.2% 51.8% 53.5% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 140.0% 0 500 1,000 1,500 2,000 2,500 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Qatar 20 Revenue Breakdown (QAR mn, %YoY) H1 Results (QAR mn, %YoY) Resilient profitability supported by growth in service revenue REVENUE EBITDA EBITDA MARGIN CAPEX Key Highlights (H1 2026) Revenue EBITDA EBITDA margin Quarterly Trend (QAR mn) -4.0% YoY Growth Mobile Fixed Wholesale Equipment H1 2026 YoY 1,720 1,572 152 149 +3.6% -0.6% +25.6% -39.4% 3,592 1,892 52.7% 226 -0.4% +1.5% +1.0PP +38.9% Revenue was broadly stable at QAR 3,592mn, impacted by lower device sales amid the ongoing geopolitical environment. Service revenues remained solid. EBITDA increased by 1.5% YoY to QAR 1,892mn, reflecting the resilience of the underlying business and strong cost discipline. EBITDA margin expanded by 1.0pp YoY to 52.7%. Customer base expanded by 1.1% YoY to nearly 3 million customers, supported by continued growth in the postpaid segment and effective customer value management. % of Revenues 48% 44% 4% 4%
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21 23 20 25 24 24 68 71 70 67 64 33.5% 28.4% 35.7% 35.4% 36.9% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 0 10 20 30 40 50 60 70 80 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Kuwait 21 Revenue Breakdown (KWD mn, %YoY) H1 Results (QAR mn, %YoY) Service revenue resilience supported margin expansion REVENUE EBITDA EBITDA MARGIN CAPEX Key Highlights (H1 2026 - In local currency terms) Revenue EBITDA EBITDA margin Quarterly Trend (KWD mn) -6.8% YoY Growth Mobile Fixed Wholesale Equipment H1 2026 YoY 88 10 8 24 +0.5% +8.2% +21.7% -18.1% 1,546 558 36.1% 134 -2.1% +5.2% +2.5PP +11.9% Revenue declined by 2.0% YoY to KWD 131mn, mainly due to lower device sales following regional supply constraints, partly offset by continued growth in service revenues. EBITDA increased by 5.4% YoY to KWD 47mn, benefiting from solid service revenue performance. EBITDA margin improved by 2.5pp to 36.1% mainly driven by a change in revenue mix. Customer base stood at 2.8 million, down 3.4% YoY, as limited device availability reduced gross additions amid the regional conflict. % of Revenues 68% 8% 6% 18%
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22 28 26 10 29 28 62 58 60 62 60 44.9% 45.0% 16.4% 47.4% 47.2% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 140.0% 0 10 20 30 40 50 60 70 80 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Oman 22 Revenue Breakdown (OMR mn, %YoY) H1 Results (QAR mn, %YoY) Profitability improved on restructuring benefits despite competitive pressure REVENUE EBITDA EBITDA MARGIN CAPEX Key Highlights (H1 2026 - In local currency terms) Revenue EBITDA EBITDA margin Quarterly Trend (OMR mn) -2.4% YoY Growth Mobile Fixed Wholesale Equipment H1 2026 YoY 69 33 11 9 -0.6% +1.5% -5.8% -9.4% 1,155 546 47.3% 190 -1.3% +4.9% +2.8PP +3.0% Revenue softened by 1.3% YoY to OMR 122mn, with broadly stable Mobile revenues and continued Fixed growth helping offset pressure in Wholesale and Equipment. EBITDA increased by 4.9% YoY to OMR 58mn, while EBITDA margin improved by 2.8pp to 47.3%, reflecting disciplined cost management and restructuring programme benefits. Total customer base stood at 2.9 million, down 5.7% YoY, amid intense competition in the Mobile segment, while the Fixed segment continued to grow. % of Revenues 57% 27% 9% 7%
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23 227 255 233 221 234 500 525 523 493 513 45.3% 48.6% 44.6% 44.7% 45.6% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 140.0% 0 100 200 300 400 500 600 700 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Iraq 23 Revenue Breakdown (IQD bn, %YoY) H1 Results (QAR mn, %YoY) Sustained growth momentum, supported by customer growth and data usage REVENUE EBITDA EBITDA MARGIN CAPEX Key Highlights (H1 2026 - In local currency terms) Revenue EBITDA EBITDA margin Quarterly Trend (IQD bn) +2.6% YoY Growth Mobile Fixed (ICT) Wholesale Equipment H1 2026 YoY 958 2 38 8 +2.1% +0.6% +10.6% - 2,776 1,254 45.2% 232 +3.2% +3.1% 0.0PP -43.7% Revenue grew by 3.2% YoY to IQD 1,006bn, driven by continued customer growth, higher data usage and the launch of handsets as a new revenue stream within the year. EBITDA increased by 3.1% YoY to IQD 454bn, with EBITDA margin maintained at a strong 45.2%. Customer base expanded by 3.9% YoY to 20.2 million, supported by solid prepaid net additions. % of Revenues 95% 0% 4% 1%
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24 13,255 15,560 12,926 13,400 14,557 28,543 32,235 30,818 30,948 33,212 46.4% 48.3% 41.9% 43.3% 43.8% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 140.0% 0.000 5.000 10.000 15.000 20.000 25.000 30.000 35.000 40.000 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Algeria 24 Revenue Breakdown (DZD mn, %YoY) H1 Results (QAR mn, %YoY) Sustained robust double-digit growth, enabled by a strong operational performance REVENUE EBITDA EBITDA MARGIN CAPEX Key Highlights (H1 2026 - In local currency terms) Revenue EBITDA EBITDA margin Quarterly Trend (DZD mn) +16.4% YoY Growth Mobile Wholesale Equipment H1 2026 YoY 62,449 1,613 98 +15.2% -5.5% +5.9% 1,774 773 43.6% 409 +15.9% +13.5% -1.0PP +72.6% Revenue grew by 14.5% YoY to DZD 64,160mn, driven by higher mobile data consumption, voice revenue growth, and expanding digital services; led by an increasing customer base. EBITDA delivered strong growth of 12.1% YoY. EBITDA margin moderated to 43.6%, down 0.9pp YoY, due to the incremental cost associated with 5G frequency fees. Customer base expanded by 9.7% YoY to 15.9 million, led by sustained growth in the prepaid segment, reaping the benefits of ongoing investments. % of Revenues 97% 3% 0%
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25 154 166 148 145 158 347 378 367 351 370 44.5% 43.8% 40.4% 41.3% 42.8% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 140.0% 0 50 100 150 200 250 300 350 400 450 500 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Tunisia 25 Revenue Breakdown (TND mn, %YoY) H1 Results (QAR mn, %YoY) Broad-based growth supported by continued 5G FWA and fibre momentum REVENUE EBITDA EBITDA MARGIN CAPEX Key Highlights (H1 2026 - In local currency terms) Revenue EBITDA EBITDA margin Quarterly Trend (TND mn) +6.7% YoY Growth Mobile Fixed Wholesale Equipment H1 2026 YoY 516 97 47 61 +1.4% +66.0% -1.8% +15.7% 907 381 42.0% 253 +14.4% +15.2% +0.3PP +18.6% Revenue grew by 8.0% YoY to TND 721mn, driven by Fixed revenue growth of 66% YoY on strong fibre and 5G FWA demand, with Mobile services also contributing positively. EBITDA increased by 9.0% YoY to TND 303mn, with EBITDA margin increasing by 0.4pp to 42.0%, supported by positive operating leverage. Customer base expanded by 3.8% YoY to 7.3 million, reflecting continued growth in Fixed services and 5G FWA adoption. % of Revenues 72% 13% 6% 8%
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26 303 313 349 310 299 539 549 581 548 536 56.1% 57.0% 60.2% 56.7% 55.7% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 0 100 200 300 400 500 600 700 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Maldives 26 Revenue Breakdown (MVR mn, %YoY) H1 Results (QAR mn, %YoY) Sustained EBITDA growth and margin expansion amid a challenging macroeconomic environment REVENUE EBITDA EBITDA MARGIN CAPEX Key Highlights (H1 2026 - In local currency terms) Revenue EBITDA EBITDA margin Quarterly Trend (MVR mn) -0.6% YoY Growth Mobile Fixed Wholesale Equipment H1 2026 YoY 616 310 157 1 +2.1% +11.8% -22.8% -60.5% 256 144 56.2% 5 -0.2% +1.3% +0.8PP +0.4% Revenue remained broadly stable at MVR 1,084mn, with Fixed and Mobile growth largely offsetting lower Wholesale revenue impacted by reduced tourism amid geopolitical tensions. EBITDA increased by 1.3% YoY to MVR 609mn, with EBITDA margin improving by 0.8pp to 56.2% supported by cost optimization initiatives. Customer base expanded by 3.4% YoY to 432k, with growth across mobile segments, alongside continued expansion of the fixed broadband customers. % of Revenues 57% 29% 14% 0%
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27 10 10 10 11 14 25 27 28 29 31 41.6% 37.7% 37.1% 38.6% 45.0% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 140.0% 0 5 10 15 20 25 30 35 40 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Palestine 27 Revenue Breakdown (USD mn, %YoY) H1 Results (QAR mn, %YoY) Solid growth supported by disciplined execution amid market challenges REVENUE EBITDA EBITDA MARGIN CAPEX Key Highlights (H1 2026 - In local currency terms) Revenue EBITDA EBITDA margin Quarterly Trend (USD mn) +24.8% YoY Growth Mobile1 Equipment H1 2026 YoY 58 2 +18.0% +8.2% 217 91 41.9% 18 +17.7% +24.9% +2.4PP +107.7% Revenue increased by 17.7% YoY to USD 60mn, driven by stabilizing market environment, improved underlying business performance and a positive currency impact. EBITDA increased by 24.9% YoY, while EBITDA margin improved by 2.4pp YoY to 41.9%, reflecting strong operational leverage and efficient cost management. Customer base remained above 1.5 million, with a modest YoY decline. % of Revenues 97% 3% 1Including wholesale revenues
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28 12.8 14.6 47.4% 47.8% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% - 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 IOH H1 Results (IDR tn, %YoY) Strong growth and improved profitability, underpinned by consistent execution REVENUE EBITDA EBITDA MARGIN NET PROFIT* 30.7 14.6 47.8% 4.4 +13.1% +13.9% +0.4PP +75.9% 28 EBITDA & Margin (IDR tn, %) Revenue (IDR tn) Net Profit* (IDR tn) Customers (mn) 1H-25 1H-26 1H-25 1H-26 1H-25 1H-26 1H-25 1H-26 +13.1% YoY Growth -2.1% YoY Growth+75.9% YoY Growth+13.9% YoY Growth 27.1 30.7 2.5 4.4 95.4 93.4 * Ooredoo Group’s 32.8% share in IOH’s Net Profit is reported above EBITDA. Net profit pertains to 100% and numbers are based on IFAS.
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29 APPENDICES
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30 KPIs Technology: H1 2026 Country Total Sites 4G Sites as % of total towers 4G Population Coverage % 5G Population coverage % Total Data Volume GB 4G Contribution in total traffic % 5G Contribution in total traffic % Data Volume Grow YoY % Algeria 11,249 99.97% 94.50% 13.18% 1,291,034,061 93.47% 3.60% 34.77% Iraq 9,456 99.69% 99.00% NA 980,451,374 94.75% NA 35.17% Kuwait 3,181 99.78% 98.72% 90.67% 1,256,121,762 30.50% 69.49% 22.81% Maldives 880 99.77% 100% 80.00% 87,160,113 66.06% 32.82% 64.63% Oman 3,152 97.87% 99.44% 97.21% 485,767,841 27.13% 72.86% 20.12% Qatar 4,279 97.45% 99.90% 98.95% 292,719,424 48.75% 51.23% 22.63% Tunisia 3,011 99.40% 98.90% 59.10% 908,768,136 60.33% 37.03% 71.34% Palestine* 870 89.31% 94.52% NA 20,746,591 98.63% NA 3.25% Total 36,078 96.94% 5,322,769,303 63.86% 33.60% 34.66% Values as reported by OpCos June 2026 report. *Palestine has only 3G coverage, all figures from Palestine columns are referring to 3G, not 4G.
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31 Country Churn Mobile Churn Fixed NPS2 Data users Penetration % MyOoredoo App users Penetration % Digital recharge RMS1 Number of complaints per 1000 subs Post paid as % of total subs Algeria 3% NA - 73% 15% 12% 51% 0.34 9% Iraq 7% NA - 60% 33% 23% 54% 2.2 2% Kuwait 2% 1% - 72% 57% 56% 27% 2.8 32% Maldives 3% 2% 32 56% 57% 48% 43% 2.8 24% Oman 3% 2% - 97% 32% 59% 26% 2.2 39% Qatar 5% 2% - 81% 65% 53% 67% 7.4 40% Tunisia 6% 2% 26 61% 32% 10% 35% 5.1 22% KPIs Commercial : H1 2026 1RMS figure : Total RMS YTD as per latest available quarter for each Opco. . Algeria, Iraq and Oman RMS are bilateral vs Djezzy, Zain and Omantel, respectively. 2NPS : NPS not yet available for Algeria, Iraq, Kuwait, Oman and Qatar.
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32 Iraq (QAR) Oman (QAR) Maldives (QAR) Palestine (QAR) Kuwait (QAR) Tunisia (QAR) Algeria (QAR) Kuwait (KWD) Tunisia (TND) Algeria (DZD) Qatar (QAR) Blended ARPU 103 104 107 102 102 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 23 24 23 22 22 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 36 37 38 38 38 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 63 64 66 64 64 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 18 19 20 20 22 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 64 66 65 61 61 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 16 18 16 16 16 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 18 20 19 19 19 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 5 6 6 5 5 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 13 14 13 12 13 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 654 725 676 667 701 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26
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33 * For Qatar, 5G spectrum allocation (as any other spectrum allocation) expires with the OQ mobile license – October 2027 ** For Kuwait: Till the unified licensing regime is finalized Fixed Licence Mobile Licence Opcos general licence information Country Issuance date Expiry date Issuance date Expiry date Qatar* 7 October 2007 6 October 2032 7 October 2007 6 October 2027 Kuwait** 29 January 2011 Indefinite 13 October 1997 5G: 9 June 2017 Indefinite Indefinite Iraq -- -- 30 August 2007 29 August 2030 Oman 8 June 2009 7 June 2034 23 February 2020 22 February 2035 Algeria -- -- 2G: 14 January 2004 3G: 02 December 2013 4G: 04 September 2016 5G: November 2025*** 2G: 13 March 2029 3G: 01 December 2028 4G: 03 September 2031 5G: November 2040 (+5 years extension) Tunisia May 2012 May 2027 2G: 14 May 2017 3G: 24 May 2012 4G: 15 March 2016 5G: 21 January 2025 2G: 13 May 2027 3G: 23 May 2027 4G: 14 March 2031 5G: 20 January 2040 Indonesia 17 March 2003 Indefinite March 1993 Indefinite Maldives 18 August 2015 (VOIP) 31 January 2035 1 February 2020 (15 yr extension to existing license) 31 January 2035 Palestine -- -- 14 March 2007 9 September 2041
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34 Country Statutory CIT rate Losses Carry Forward Allowed Comments Qatar 10% 5 years • No CIT is levied on a corporate entity that is wholly owned by Qatari nationals and GCC nationals that are resident in Qatar and companies listed on Qatar Stock Exchange. • Listed companies are subject to 2.5% Sport and Social Contribution • For QFC entities, no CIT on foreign revenues and 10% CIT on local source revenues • As of January 1st 2025, Qatar has implemented Pillar 2 minimum 15% tax for Group companies exceeding 750m EUR revenues. As a result, the Effective Tax Rate of all Ooredoo Qatari entities is 15% Iraq 15% 5 years Algeria 26% 4 years Tunisia 20% 35% 5 years • 20% standard CIT rate + 1% Social Solidarity Contribution Fee • 35% CIT rate applies to oil companies, banks, financial institutions and telecommunication companies + 5% Social Solidarity Contribution Fee in 2025 (total of 40%) Oman 15% 5 years • As of January 1st 2025, Oman has implemented Pillar 2 minimum 15% ETR for Group companies exceeding 750m EUR revenues Kuwait 15% 3 years • As of January 1st 2025, Kuwait has implemented Pillar 2 minimum 15% ETR for Group companies exceeding 750m EUR revenues. 3.5% Zakat, & NLST have been abolished but 1% KFAS remains in force Maldives 15% 5 years Palestine 20% 5 years • Ooredoo Palestine benefits from a 50% corporate Income tax reduction and is taxed at 10% Singapore 17% Indefinitely Statutory corporate income tax (CIT) rates
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35 THANK YOU @OoredooIR • IR@ooredoo.com • www.ooredoo.com Download our IR app