Slides
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OOREDOO GROUP Results presentation For the nine-month period ended 30 September 2026
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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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Presenters Aziz Aluthman Fakhroo Group CEO Operations review Strategy and Results review Abdulla Ahmed Al-Zaman Group CFO
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Ooredoo Group | Overview of 9M 2026 3 Broad-based growth, EBITDA margin expansion and continued execution across strategic platforms BROAD-BASED COMMERCIAL GROWTH NEW GROWTH ENGINES SCALING OPERATING LEVERAGE STRONGER CASH GENERATION Customer momentum and data demand drive revenue growth Tower and data centre platforms move into next phase of growth Revenue growth and cost discipline expand EBITDA margin Higher free cash flow reinforces financial flexibility Revenue increased 4.3% YoY to QAR 19.0 billion, supported by demand for data and connectivity services Customers grew 4.1% to 55.1 million, with five of eight markets expanding customer base TowerCo moved from agreement to execution, with the first closing completed in October 2026 after the end of the quarter Syntys continued to scale, expanding data centre capacity, while OFTI continued to develop its financial services platform Free cash flow increased 11.2% YoY to QAR 5.7 billion, strengthening the Group’s cash position Disciplined capital allocation and a strong balance sheet support the Group’s full-year objectives EBITDA rose 6.3% YoY to QAR 8.5 billion, with strong revenue performance and continued cost discipline across the portfolio EBITDA margin improved 0.9pp to 44.7%, supported by operating leverage and a favourable revenue mix
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STRATEGIC PROGRESS Aziz Aluthman Fakhroo | Group CEO
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Strategy in Action | Executing our digital infrastructure strategy Advancing our digital infrastructure platforms across connectivity, transport, host and AI compute CONNECT Scaled connectivity foundation TRANSPORT Linking our markets to world HOST AI-ready data centres COMPUTE AI infrastructure & neocloud Core connectivity for our customers Regional infrastructure to the world Scalable platforms for growth AI compute growth for tomorrow Tower transaction reached first closing Marking an important milestone in creation of a leading independent TowerCo across the MENA region Continued progress on subsea cable and fibre Advancing the development of a high-capacity regional cable system across the GCC and beyond Expanding our data centre platform, Syntys Delivering secure, scalable and efficient capacity for our clients across our footprint Strategic investment in Zankore to expand into AI compute A standalone AI compute infrastructure and neocloud platform across Southeast Asia • First closing completed, bringing together Ooredoo and Zain’s initial Qatar and Kuwait tower portfolios in a jointly owned regional TowerCo • Ooredoo Fiber Networks (OFN) signed a dark fibre agreement with IQ Networks and a landing partnership agreement with ITPC in Iraq • Total active IT capacity increased through completion of 4.5MW by QData and construction ongoing for an additional 26 MW capacity • Founding shareholder in a high- growth AI infrastructure platform • Largest shareholder (49%), alongside Indosat, NVIDIA and Nokia • Implementation for operational phase 5
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Tower transaction update | First closing completed Regional TowerCo established with Zain, moving the tower transaction from agreement to execution F I R S T C L O S I N G A T A G L A N C E ~4,000 towers Ooredoo Qatar (Al Abraj) and Zain Kuwait (ITK) portfolios combined 50:50 ownership TowerCo jointly owned by Ooredoo and Zain Share-for-share contribution Al Abraj and ITK shares contributed by Ooredoo and Zain in exchange for share in TowerCo H O W T H E T O W E R C O W I L L G R O W Al Abraj Qatar ITK Kuwait First closing TowerCo Ooredoo 50% | Zain 50% Further markets Future closings Looking Ahead • Dedicated operating model focused on passive telecommunications infrastructure • Additional tower portfolios in other markets to be contributed progressively, subject to closing conditions and regulatory approvals • Platform designed to deliver greater scale, capital efficiency and infrastructure-as-a- service First closing was completed in October 2026, after the end of Q3. The transaction therefore has no impact on Q3 2026 financial results. 6
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7 8 2 5 88% 6%6% Qatar Kuwait Tunisia Active Data Centers Medium/Long term targets CURRENT FOOTPRINT EXPANSION PROGRAM 9M RESULTS 26 MW under construction Active IT Capacity # of countries with Syntys presence 3 34 IT capacity (MW) 15 Active data centers Qatar Kuwait Tunisia Qatar Kuwait Tunisia QAR 177 million Revenue EBITDA QAR 80 million 69% Revenue in Qatar from hyperscalers Of active data center’s capacity88% 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 7
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8 Ooredoo Fintech | Continued expansion across group footprint 9M 2026 Across Live Markets 2 License process QAR 9 billion Qatar and Oman scaling rapidly; Tunisia live and Iraq in build phase INTERNATIONAL REMITTANCE 30-DAY ACTIVE USERS MARKETS 400k+ 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 (9M 2026) OMAN (9M 2026) TUNISIA IRAQ 382k+ 43k+ 30-day Active Users Large-scale Market 22% Market share in int’l remittance QAR 30m EBITDA momentum continues (+20% YoY) 30-day Active Users Live since Q1 2025 QAR 750m Int’l remittance in YTD Sep 2026 Inbound remittance approved by CBO The first marketing campaign took place after go-live 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 Building scale post launch QAR 77 m +17% YoY NET REVENUE 9M 2026 QAR 113 m +14% YoY GROSS REVENUE 9M 2026 8
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RESULTS REVIEW Aziz Aluthman Fakhroo | Group CEO
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Key 9M 2026 YoY Highlights Profitability Balance Sheet Returns EBITDA1 EBITDA Margin Net Profit Capex Intensity Capex Free Cash Flow +6.3% QAR 8.5 billion +11.2% QAR 5.7 billion 0.5x+0.9pp 44.7% Growth Revenue Customers +4.3% QAR 19.0 billion +4.1% 55.1 million -0.7% 146.5 million (inc. IOH) -5.0% QAR 2.9 billion -1.0pp 14.6% QAR 2.8 billion Continued operational momentum driving revenue growth, margin expansion and stronger cash flow generation Net Debt/ EBITDA1 (Normalised2: +4.2%) (Normalised2: stable at 43.8%) (Normalised2,3,4: -2.7%) (Normalised2: +7.9%) 10 1 EBITDA = Revenue - Operating expenses + Share of results from associates and joint ventures 2 Adjusted in 9M 2026 for: i) Gain on divestment of PT Infra Fibre by IOH (QAR 69 million); ii) Gain on deconsolidation of Ensign by StarHub (QAR 99 million). 3 Adjusted in 9M 2026 for: i) Legal provision in Algeria (QAR -208 million); ii) Foreign exchange (QAR -17 million). 4 Adjusted in 9M 2025 for: i) Foreign exchange (QAR 22 million); ii) Impairment (QAR -7 million).
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Key Q3 2026 YoY Highlights Profitability Balance Sheet Returns EBITDA1 EBITDA Margin Net Profit Capex Intensity Capex Free Cash Flow +4.4% QAR 2.9 billion +19.5% QAR 1.8 billion 0.5x +0.2pp 45.3% Growth Revenue Customers +3.8% QAR 6.5 billion +4.1% 55.1 million -0.7% 146.5 million (inc. IOH) -4.7% QAR 1.1 billion -3.4pp 17.8% QAR 1.2 billion Solid revenue growth, resilient profitability and stronger cash generation reinforce financial resilience Net Debt/ EBITDA1 (Normalised2: +0.9%) (Normalised2: -1.3pp to 43.8%) (Normalised3,4: -13.2%) (Normalised2: +12.9%) 11 1 EBITDA = Revenue - Operating expenses + Share of results from associates and joint ventures 2 Adjusted in Q3 2026 for: i) Gain on deconsolidation of Ensign by StarHub (QAR 99 million). 3 Adjusted in Q3 2026 for: i) Foreign exchange (QAR -12 million); ii) Gain on deconsolidation of Ensign by StarHub (QAR 99 million). 4 Adjusted in Q3 2025 for: i) Foreign exchange (QAR -9 million); ii) Impairment (QAR -2 million).
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144 69 32 21 20 11 10 7 (74)6,263 6,502 Group Q3-25 Qatar Algeria Oman Iraq Tunisia Palestine Others Maldives Kuwait Group Q3-26 Revenue Sustained demand for data and connectivity services supported revenue growth across the Group 12 Revenue Breakdown by Market Highlights (Q3 2026) 9M 2026 Qatar Iraq Algeria Kuwait Oman Tunisia Maldives Palestine Others Key Takeaways (9M 2026, YoY)Group Revenue QAR mn (9M 2026) Quarterly YoY Change QAR mn, %YoY (Q3 2026) 9M-25 9M-26 +4.3% YoY YoY Change +239 Top 3 markets (Qatar, Iraq, Algeria) contributed 66% of group revenue 7 of 8 Markets delivered positive revenue growth Revenue grew by 4.3%, driven by strong demand for data services, customer base growth in selected markets and continued commercial momentum across most of the portfolio. Algeria, Tunisia, Qatar and Iraq delivered solid growth, with mainly strong customer acquisition in Algeria, fixed segment expansion in Tunisia, higher service revenue in Qatar, and increased data usage & customer base growth in Iraq. Kuwait continued to experience device availability challenges due to ongoing supply chain constraints, which adversely affected handset and mobile revenues. Palestine, Oman and the Maldives also recorded resilient growth during the period, reflecting sustained demand for our products and services across these markets. +3.8% YoY Group Revenue growth 8.3% 5.9% 1.4% 4.3% 11.4% 5.1% 7.6% 18,177 18,960 -8.8% 29% 22%15% 12% 9% 7% 2% 2% 2%
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59 59 9 3 (17) (43)2,824 27 14 12 2,948 Group Q3-25 Others Kuwait Oman Qatar Tunisia Palestine Maldives Algeria Iraq Group Q3-26 EBITDA Improved margin driven by revenue growth, efficiency initiatives and a favourable revenue mix 13 EBITDA Breakdown by Market Highlights (Q3 2026) 9M 2026 Qatar Iraq Algeria Kuwait Oman Tunisia Maldives Palestine Others Key Takeaways (9M 2026, YoY)Group EBITDA QAR mn (9M 2026) Quarterly YoY Change QAR mn, %YoY (Q3 2026) 9M-25 9M-26 +6.3% YoY YoY Change +123 Top 3 markets (Qatar, Iraq, Algeria) contributed 70% of group EBITDA 6 of 8 Markets delivered positive EBITDA growth EBITDA increased by 6.3%, supported by higher revenue and continued cost discipline across the portfolio, with particularly strong contribution from Kuwait, Algeria, Tunisia and Oman. EBITDA margin improved to 44.7%, up 0.9pp, supported by cost discipline and a lower contribution from lower-margin device sales in Kuwait and Qatar Asiacell (Iraq) EBITDA margin was impacted by increased operating and energy costs and Algeria by 5G spectrum licensing fees. +4.4% YoY Group EBITDA Growth 24.7% 10.7% 1.5% 6.0% 24.4% 4.1% -3.8% -6.1% 7,970 8,476 43.8% 44.7% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 34% 23% 14% 10% 10% 7% 3% 2% -1%
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2,935 17 208 -69 -99 2,992 9M-26 Reported FX impact Algeria legal provision IOH Gain on divest. of Infra Fibre Decon. of Ensign by StarHub 9M-26 Normalised 3,0743,089 -22 7 9M-25 Reported FX impact Impairment 9M-25 Normalised Net Profit | Reported and Normalised (9M 2026) 14 9M 20269M 2025 Net profit attributable to Ooredoo shareholders QAR mn Reported 9M-25 9M-26 -5.0% 9M-25 9M-26 Normalised -2.7% Net Profit reconciliation Reported to Normalised QAR mn 3,089 2,935 3,074 2,992 Overview of reported and normalised net profit performance of 9M 2026
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1,087 12 -99 1,000 Q3-26 Reported FX impact Decon. of Ensign by StarHub Q3-26 Normalised 1,152 1,141 9 2 Q3-25 Reported FX impact Impairment Q3-25 Normalised Net Profit | Reported and Normalised (Q3 2026) Net Profit reconciliation Reported to Normalised QAR mn Net profit attributable to Ooredoo shareholders QAR mn 15 Reported Q3-25 Q3-26 -4.7% Q3-25 Q3-26 Normalised Q3 2026Q3 2025 -13.2% 1,141 1,087 1,152 1,000 Overview of reported and normalised net profit performance of Q3 2026
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Qatar Iraq Algeria Kuwait Oman Tunisia Maldives Palestine Others Syntys Capex Strategic investments across networks, IT and digital capabilities to enhance performance and customer experience 16 Capex Breakdown per Segment Highlights (Q3 2026) 9M 2026 Key Takeaways (9M 2026) Group Capex | Capex/Revenues QAR mn, % (9M 2026) Capex YoY Change QAR mn (9M 2026) 9M-25 9M-26 -2.4% YoY QAR 1,158 million Total Capex -12.7% YoY 5 of 8 OPCO’s increased Capex, focusing on network growth strategy Capex Breakdown per OPCO 9M 2026 Network Others Syntys IT 75% 9% 9% 7% Tunisia: Continued investment to strengthen fixed broadband and network infrastructure, including 5G. Palestine: Investments in 4G network deployment. Algeria: Ongoing network investments supporting new site deployments and continued 5G expansion. Iraq: Network expansion impacted by logistics and equipment supply constraints. Qatar: Strategic investments in IT and digital capabilities. 21% 20% 14% 13% 13% 7% 6% 3% 2% 0.3% 2,837 2,770 15.6% 14.6% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 400 900 1,400 1,900 2,400 2,900 3,400 -319 -19 -13 -3 31 32 42 44 56 82 Iraq Kuwait Syntys Maldives Others Oman Tunisia Algeria Qatar Palestine
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112 95 93 21 19 10 6 (0) (63) 1,497 1,789 Group Q3-25 Algeria Iraq Kuwait Qatar Others Tunisia Maldives Oman Palestine Group Q3-26 Free Cash Flow (FCF: EBITDA-Capex) Stronger EBITDA and lower capital expenditure supported double-digit FCF growth 17 FCF Breakdown by Market Highlights (Q3 2026) 9M 2026 Qatar Iraq Algeria Kuwait Oman Tunisia Maldives Palestine Others Key Takeaways (9M 2026, YoY)Group FCF QAR mn (9M 2026) Quarterly YoY Change QAR mn (Q3 2026) 9M-25 9M-26 +11.2% YoY YoY Change +292 Top 3 markets (Qatar, Iraq, Kuwait) contributed 79% of group FCF 6 of 8 Markets delivered positive FCF growth Cash generation remained strong, with free cash flow rising 11.2% to QAR 5.7 billion. Nomalised Free Cash Flow grew by 7.9% to QAR 5.5 billion. Higher free cash flow was supported by strong EBITDA growth and lower capex in Iraq and Kuwait reflecting supply chain constraints. Lower free cash flow in Palestine was anticipated, primarily due to investments in 4G network deployment. +19.5% YoY Group FCF Growth 43% 24% 12% 11% 8% 4% 4% 1% -6% 5,133 5,706
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1,846 304 73 68 23 (8) (35) (126) 55,081 52,936 Group Q3-25 Algeria Iraq Qatar Tunisia Maldives Palestine Oman Kuwait Group Q3-26 Customers Strong customer growth driven by sustained demand and continued market expansion 18 Customers Breakdown by Market Highlights (Q3 2026) 9M 2026 Key Takeaways (9M 2026, YoY)Group Customers In mn (9M 2026) Customers YoY Change ‘000 9M-25 9M-26 +4.1% YoY YoY Change +2,145 Top 3 markets (Iraq, Algeria, Tunisia) represents 81% of group customers* 5 of 8 Markets delivered customer base growth Strong customer growth of 4.1% increased the customer base to 55.1 million Strong customer growth in Algeria, driven by continuous network expansion and solid commercial execution, and in Iraq, sustained by improved commercial and customer retention initiatives IOH’s customer base declined by 3.3% to 91.5 million, while the total Group customer base (Including IOH) stood at 146.5 million. Lower customer number in Kuwait reflected constrained handset availability, while Oman was affected by subscriber base clean up and a competitive market environment. +4.1% YoY Customer base growth * Excluding IOH Qatar Iraq Algeria Kuwait Oman Tunisia Maldives Palestine 36% 31% 14% 5% 5% 5% 3% 1% 52.9 55.1
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19 Debt and Liquidity Robust liquidity and low leverage with investment-grade ratings Key TakeawaysLiquidity & Repayment schedule Net Debt/EBITDA ratio of 0.5x, below current Board guidance of 1.5x to 2.5x QAR 11.9bn of cash available, providing substantial financial flexibility QAR 6.6bn (USD 1.8bn) undrawn committed facilities, including USD 950m at Ooredoo Qatar and USD 857m equivalent across OPCOs Balanced and long maturity profile 11,227 9,104 2,123 Group Qatar Others Borrowings by operations 0.6 0.4 0.6 0.6 0.5 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Net Debt/EBITDA ratio (x) 9,104 2,123 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 maintain investment grade ratings 9,384 84% 1,843 16% Fixed Floating Fixed vs Floating rate portion QAR mn 11,886 87 215 1,945 175 55 8,750 6,580 Cash & Undrawn facilities 2026 2027 2028 2029 2030 > 2031 19
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Guidance achievement progress Strong year-to-date execution reinforces confidence in achieving full-year guidance 20 KPI Actual 9M 2026 Change YoY FY 2026 Guidance QAR 19.0 billion 44.7% QAR 2.8 billion +4.3% +0.9pp -2.4% 3%-5% Low 40%’s QAR 5.0-6.5 billion Revenue EBITDA Margin1 Capex 1 Normalised EBITDA margin is 43.8%, flat YoY
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21 OPERATIONS REVIEW Abdulla Ahmed Al-Zaman | Group CFO
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22 935 956 938 953 949 1,728 1,904 1,811 1,781 1,871 54.1% 50.2% 51.8% 53.5% 50.7% 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 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Qatar Revenue Breakdown (QAR mn, %YoY) 9M Results (QAR mn, %YoY) Solid operating performance with continued revenue and customer growth REVENUE EBITDA EBITDA MARGIN CAPEX Key Highlights (9M 2026, YoY) Revenue EBITDA EBITDA margin Quarterly Trend (QAR mn) +8.3% YoY Growth Mobile Fixed Wholesale Equipment 9M 2026 YoY 2,593 2,381 235 254 +2.9% +2.6% +21.3% -15.9% 5,463 2,841 52.0% 379 +2.4% +1.5% -0.5PP +17.4% Revenue increased by 2.4% to QAR 5,463mn, driven by 3.5% growth in service revenue and continued customer momentum, partly offset by lower equipment revenue due to handset availability constraints amid the regional situation. EBITDA grew by 1.5% to QAR 2,841mn, while EBITDA margin remained strong at 52.0%. Customer base grew by 2.5% to nearly 3.0 million customers, led by sustained momentum in both prepaid and postpaid services. % of Revenues 47% 44% 4% 5% 22
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23 20 25 24 24 25 71 70 67 64 65 28.4% 35.7% 35.4% 36.9% 38.9% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 0 10 20 30 40 50 60 70 80 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Kuwait Revenue Breakdown (KWD mn, %YoY) 9M Results (QAR mn, %YoY) Resilient performance with margin improvement REVENUE EBITDA EBITDA MARGIN CAPEX Key Highlights (9M 2026, YoY, in local currency terms) Revenue EBITDA EBITDA margin Quarterly Trend (KWD mn) -7.7% YoY Growth Mobile Fixed Wholesale Equipment 9M 2026 YoY 132 16 13 35 -1.4% +13.4% +14.1% -21.6% 2,313 856 37.0% 179 -4.4% +11.3% +5.2PP -9.8% Revenue declined by 4.0% to KWD 196mn, mainly driven by lower mobile and equipment revenues, amid limited device availability due to ongoing supply constraints. Strong growth in fixed and wholesale provided a partial offset. EBITDA increased by 11.8% to KWD 73mn. Excluding a prior-year bad debt provision, EBITDA grew by 6%. EBITDA margin improved by 5.2pp to 37.0% (3.5pp excluding the provision), also benefiting from a reduced cost base due to lower device sales. Customer base declined by 4.3% to 2.8 million, as device constraints continued to weigh on gross additions. % of Revenues 67% 8% 6% 18% 23
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24 26 10 29 28 29 58 60 62 60 62 45.0% 16.4% 47.4% 47.2% 47.1% 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 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Oman Revenue Breakdown (OMR mn, %YoY) 9M Results (QAR mn, %YoY) Steady operating performance, with revenue growth and ongoing margin expansion REVENUE EBITDA EBITDA MARGIN CAPEX Key Highlights (9M 2026, YoY, in local currency terms) Revenue EBITDA EBITDA margin Quarterly Trend (OMR mn) +5.9% YoY Growth Mobile Fixed Wholesale Equipment 9M 2026 YoY 103 50 17 13 -1.2% +2.3% -1.1% +19.8% 1,739 821 47.2% 353 +1.0% +6.8% +2.6PP +10.1% Revenue increased by 1.0% to OMR 184mn, with solid growth in fixed and equipment revenues mitigating ongoing competitive pressure in mobile. EBITDA rose by 6.8% to OMR 87mn, while EBITDA margin improved by 2.6pp to 47.2%, benefiting from disciplined cost management and restructuring initiatives in Q4 2025. % of Revenues 56% 27% 9% 7% Customer base decreased by 1.2% to nearly 3.0 million YoY, primarily due to mobile customer base cleanup during the period and competitive pressures, partly offset by growth in fixed customers. 24
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25 255 233 221 234 240 525 523 493 513 533 48.6% 44.6% 44.7% 45.6% 44.9% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 140.0% 0 100 200 300 400 500 600 700 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Iraq Revenue Breakdown (IQD bn, %YoY) 9M Results (QAR mn, %YoY) Sustained revenue growth and customer momentum despite macro headwinds REVENUE EBITDA EBITDA MARGIN CAPEX Key Highlights (9M 2026, YoY, in local currency terms) Revenue EBITDA EBITDA margin Quarterly Trend (IQD bn) +1.4% YoY Growth Mobile Fixed (ICT) Wholesale Equipment 9M 2026 YoY 1,466 4 59 10 +1.7% +28.7% +5.3% n/a 4,247 1,915 45.1% 566 +2.6% -0.3% -1.3PP -36.0% Revenue grew by 2.6% to IQD 1,539bn, driven by continued customer growth, rising data consumption and the contribution from the handset business launched earlier in the year. EBITDA remained broadly stable at IQD 694bn, while EBITDA margin declined by 1.3pp to 45.1%, reflecting higher operating and energy costs. Customer base expanded by 1.5% to 20.1 million, indicating continued demand for Asiacell's services. % of Revenues 95% 0% 4% 1% 25
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26 15,560 12,926 13,400 14,557 15,399 32,235 30,818 30,948 33,212 35,672 48.3% 41.9% 43.3% 43.8% 43.2% 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 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Algeria Revenue Breakdown (DZD mn, %YoY) 9M Results (QAR mn, %YoY) Continued double-digit revenue growth with accelerating customer momentum REVENUE EBITDA EBITDA MARGIN CAPEX Key Highlights (9M 2026, YoY, in local currency terms) Revenue EBITDA EBITDA margin Quarterly Trend (DZD mn) +10.7% YoY Growth Mobile Wholesale Equipment 9M 2026 YoY 97,289 2,394 150 +13.6% -4.8% +42.8% 2,750 1,194 43.4% 586 +12.8% +6.7% -2.5PP +8.1% Revenue grew by 13.1% to DZD 99,833mn, driven by enhanced customer experience, disciplined investment and a continued focus on profitable, quality revenue. EBITDA increased by 7.1% to DZD 43,357mn. EBITDA margin declined by 2.4pp to 43.4%, primarily impacted by 5G spectrum licensing costs. Customer base expanded by 12.3% to over 16.8 million, supported by robust customer acquisition, effective commercial campaigns and broader network reach. % of Revenues 97% 2% 0% 26
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27 166 148 145 158 178 378 367 351 370 400 43.8% 40.4% 41.3% 42.8% 44.6% 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 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Tunisia Revenue Breakdown (TND mn, %YoY) 9M Results (QAR mn, %YoY) Growth momentum led by continued expansion in fixed broadband REVENUE EBITDA EBITDA MARGIN CAPEX Key Highlights (9M 2026, YoY, in local currency terms) Revenue EBITDA EBITDA margin Quarterly Trend (TND mn) +5.9% YoY Growth Mobile Fixed Wholesale Equipment 9M 2026 YoY 799 150 80 92 +0.5% +58.2% +10.9% +10.9% 1,404 603 42.9% 347 +10.6% +11.6% +0.4PP +13.7% Revenue grew by 7.2% to TND 1,121mn, driven by strong growth in fixed business, supported by increasing demand for fibre and 5G FWA. EBITDA increased by 8.5% to TND 482mn, with EBITDA margin increasing by 0.5pp to 42.9%, as revenue growth outpaced costs. Customer base expanded by 0.9% to nearly 7.5 million, supported by sustained expansion of the fixed broadband customer base. % of Revenues 71% 13% 7% 8% 27
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28 313 349 310 299 326 549 581 548 536 577 57.0% 60.2% 56.7% 55.7% 56.4% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 0 100 200 300 400 500 600 700 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Maldives Revenue Breakdown (MVR mn, %YoY) 9M Results (QAR mn, %YoY) Steady growth across revenue, EBITDA and customers despite tourism-related pressures REVENUE EBITDA EBITDA MARGIN CAPEX Key Highlights (9M 2026, YoY, in local currency terms) Revenue EBITDA EBITDA margin Quarterly Trend (MVR mn) +5.1% YoY Growth Mobile Fixed Wholesale Equipment 9M 2026 YoY 938 489 232 2 +3.3% +15.8% -23.1% -51.2% 392 221 56.3% 9 +1.6% +2.3% +0.4PP -26.0% Revenue increased by 1.6% to MVR 1,661mn, driven by continued growth across mobile and fixed services, despite weaker wholesale revenue. EBITDA increased by 2.3% to MVR 935mn, with EBITDA margin improving by 0.4pp to 56.3%, on the back of revenue growth and ongoing cost optimisation. Customer base expanded by 5.4% to 443k, driven by growth across mobile and fixed broadband. % of Revenues 57% 29% 14% 0% 28
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29 10 10 11 14 13 27 28 29 31 30 37.7% 37.1% 38.6% 45.0% 42.1% 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 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Palestine Revenue Breakdown (USD mn, %YoY) 9M Results (QAR mn, %YoY) Sustaining solid growth momentum despite challenging market conditions REVENUE EBITDA EBITDA MARGIN CAPEX Key Highlights (9M 2026, YoY, in reporting currency - USD terms) Revenue EBITDA EBITDA margin Quarterly Trend (USD mn) +11.4% YoY Growth Mobile1 Equipment 9M 2026 YoY 87 3 +15.7% +8.7% 328 138 42.0% 96 +15.5% +24.7% +3.1PP +582.2% Revenue increased by 15.5% to USD 90mn, supported by stronger business performance, amid improved operating conditions, alongside a favourable currency impact. EBITDA increased by 24.7% to USD 38mn, while EBITDA margin improved by 3.1pp to 42.0%, as revenue growth outpaced costs. Customer base remained above 1.5 million, with a modest decline of 0.5%. % of Revenues 1Including wholesale revenues 97% 3% 29
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30 3.8 5.1 19.3 21.1 47.0% 46.1% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% - 5.0 10.0 15.0 20.0 25.0 41.2 45.8 IOH 9M Results (IDR tn, %YoY) Strong operating performance with double-digit revenue growth REVENUE EBITDA EBITDA MARGIN NET PROFIT* 45.8 21.1 46.1% 5.1 +11.1% +9.1% -0.8PP +33.1% EBITDA & Margin (IDR tn, %) Revenue (IDR tn) Net Profit* (IDR tn) Customers (mn) 9M-25 9M-26 9M-25 9M-26 9M-25 9M-26 9M-25 9M-26 +11.1% YoY Growth -3.3% YoY Growth+33.1% YoY Growth+9.1% YoY Growth * 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. 94.6 91.5 30
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APPENDICES
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Iraq (QAR) Oman (QAR) Maldives (QAR) Palestine (QAR) Kuwait (QAR) Tunisia (QAR) Algeria (QAR) Kuwait (KWD) Tunisia (TND) Algeria (DZD) Qatar (QAR) Blended ARPU 104 107 102 102 103 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 24 23 22 22 23 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 37 38 38 38 38 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 64 66 64 64 65 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 19 20 20 22 21 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 66 65 61 61 62 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 18 16 16 16 17 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 20 19 19 19 20 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 6 6 5 5 5 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 14 13 12 13 14 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 725 676 667 701 722 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 32
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* Extended for 1 year and CRA is working to renew the licence for an extended term ** 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 2028* 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 33
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Country Statutory CIT rate Comments Qatar 10% • Ooredoo Q.P.S.C.: Exempt from CIT; subject only to a 2.5% Sports and Social Contribution • Qatari-owned entities: Exempt from CIT where ownership is held by eligible Qatari and qualifying GCC shareholders • QFC entities: 0% CIT on foreign-source income; 10% CIT on Qatar-source income • QFZ entities: Tax exempt and generally not subject to CIT • Pillar Two (from 2025): 15% global minimum tax applicable to Ooredoo Group entities within scope Algeria 26% Tunisia 20% / 35% • Standard tax regime: 20% CIT + 1% Social Solidarity Contribution • Telecommunications sector: 35% CIT + 5% Social Solidarity Contribution (40% combined effective rate) Iraq 15% Oman 15% • Pillar Two (from 2025): 15% global minimum tax applicable to entities within scope Kuwait 15% • Pillar Two (from 2025): 15% global minimum tax applicable to entities within scope • 1% Kuwait Foundation for the Advancement of Sciences (KFAS) levy Maldives 15% Palestine 20% • Ooredoo Palestine benefits from a 50% CIT reduction, resulting in an effective CIT rate of 10% Indonesia 22% Statutory corporate income tax (CIT) rates 34
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