Page 1

Vodacom Group Limited Trading update for the quarter ended 31 December 2020 Results announcement Vodacom Group Limited ( Incorporated in the Republic of South Africa ) ( Registration number 1993/005461/06 ) ISIN : ZAE000132577 ISIN : US92858D2009 ( Vodacom ) News release Share code : VOD ADR code : VDMCY Vodacom Group Limited trading update for the quarter ended 31 December 2020 02 February 2021 Highlights • Group service revenue grew by 3.9 % ( 4.2 % * ) , driven by strong growth in South Africa and improved growth from our International operations . Group revenue growth of 6.4 % ( 6.7 % * ) in the quarter was ahead of Group service revenue growth and supported by equipment and non - service revenue in South Africa . ● South Africa service revenue was up 5.4 % reflecting strong demand for new services and connectivity . International service revenue declined by 1.4 % ( -0.3 % * ) , with M - Pesa supporting a notable sequential improvement in the year - on - year decline of normalised service revenue . Rm Group service revenue South Africa International Group revenue South Africa International Quarter ended 31 December 2020 19 627 14 306 5 543 25 134 19 729 5 685 2019 18 899 13 567 5 622 23 626 18 183 5 789 YoY % change Reported 3.9 5.4 ( 1.4 ) 6.4 8.5 ( 1.8 ) Normalised * 4.2 5.4 ( 0.3 ) 6.7 8.5 ( 0.7 ) Shameel Joosub , Vodacom Group CEO commented : In the wake of a second wave of COVID - 19 infections across most of the world , Vodacom Group remains committed to assisting governments curb the spread of the pandemic whilst at the same time focusing on the economic recovery in each of the markets where we operate through the execution of a six - point plan . This plan includes expanding network coverage and resilience , accelerating support to governments , enhancing digital accessibility and digital adoption , supporting the strategies of our customers as they adapt to the " new normal " and promoting financial inclusion . In South Africa , 23 million customers took advantage of discounts and the greater value offered through a highly successful summer " ShakeOff 2020 " campaign and our recently launched Voda Bucks loyalty programme with an additional 1.45 million customers connecting to our leading network during the quarter . Supported by a significant increase in demand for our Airtime Advance product and a healthy increase in insurance policies , our Financial Services business remains a very strong performer having increased revenue by 24.3 % , as the business continues to scale . Our partnership with Alipay will add new dimensions to our Financial Services proposition and in particular VodaPay , which will become our single lifestyle super app . Notes : Certain financial information presented in this results announcement constitutes pro - forma financial information in terms of the JSE Listings Requirements . The applicable criteria , on the basis of which this pro - forma financial information has been prepared , is set out in the supplementary information on pages 13 to 14 . The pro - forma financial information has not been audited or reviewed or otherwise reported on by external auditors . The quarterly information has not been audited or reviewed by Vodacom's external auditors . All growth rates quoted are year - on - year and refer to the quarter ended 31 December 2020 compared to the quarter ended 31 December 2019 . Amounts marked with an * in this document represent normalised growth which presents performance on a comparable basis . This excludes merger acquisition and disposal activities where applicable and adjusting for trading foreign exchange and foreign currency fluctuation on a constant currency basis ( using the current year as base ) to show a like - for - like comparison of results . Page 1 of 16