Ooredoo Group Q1 2018 Results April 26th 2018 Ooredoo Group H1 2017

Disclaimer Ooredoo Group H1 2017 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, as such, 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: Our ability to manage domestic and international growth and maintain a high level of customer service Future sales growth Market acceptance of our product and service offerings Our ability to secure adequate financing or equity capital to fund our operations Network expansion Performance of our network and equipment Our ability to enter into strategic alliances or transactions Cooperation of incumbent local exchange carriers in provisioning lines and interconnecting our equipment Regulatory approval processes Changes in technology Price competition 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 Ooredoo Group H1 2017

Contents Results review Operations review Additional information Ooredoo Group H1 2017

Group Results Key Highlights Financial highlights: Review Operations Additional Information Overview Group Results Key Highlights Financial highlights: Q1 2018 Revenue was QAR 7.8 billion, driven by strong contributions from Iraq, Kuwait, Tunisia, Palestine and Myanmar offset by Indonesia and Algeria. Group EBITDA stood at QAR 3.0 billion with a corresponding EBITDA margin of 39%. Excluding Foreign Exchange translation impact, Group EBITDA decreased by 10% year-on-year compared to the reported 11% decrease. Group Net Profit attributable to Ooredoo shareholders decreased by 17% to QAR 486 million. The positive performance in Iraq and Myanmar was offset by market challenges in Indonesia and Algeria. Increased monetization of data business, with significant data growth coming from consumer and enterprise customers: saw data revenue increasing to 43% of Group revenue. Revenue from data contributed QAR 3.3 billion in Q1 2018. Operational highlights:   Customer base is solid, increasing 1% yoy to more than 150 million, driven by multiple customer acquisition activities in Iraq, Tunisia, Maldives and Palestine . Ooredoo continues to be a data leader in its markets with 4G networks now available in 8 of Ooredoo’s 10 markets In Palestine, Wataniya Mobile made exceptional progress in customer acquisitions with the launch of its West Bank 3G network in January 2018, following the launch of services in the Gaza strip in October 2017. Customer base increased 55% to more than 1.2 million at the end of March 2018. Ooredoo Group H1 2017

EBITDA (QARm) and EBITDA Margin Group Results Revenue and EBITDA Results Review Operations Additional Information Overview Revenue (QARm) EBITDA (QARm) and EBITDA Margin Strong Revenue performances in Iraq, Kuwait, Tunisia, Palestine and Myanmar being more than offset by challenging market conditions in our biggest market in Indonesia and in Algeria. Lower Revenue impacts EBITDA negatively Ooredoo Group H1 2017

Net Profit Attributable to Ooredoo shareholders (QARm) Group Results Net Profit Results Review Operations Additional Information Overview Net Profit Attributable to Ooredoo shareholders (QARm) Total Net Profit Net Foreign Exchange Pre FX Net Profit The positive performance in Iraq, Kuwait and Myanmar was offset by market challenges in Indonesia and Algeria. Market competition, regulatory (Indonesia) and tax (Algeria) changes have adversely impacted overall financial results Ooredoo Group H1 2017

CAPEX (QARm) & CAPEX/ Revenue (%) Group Results Free Cash Flow and Capital Expenditure Results Review Operations Additional Information Overview CAPEX (QARm) & CAPEX/ Revenue (%) Free Cash Flow (QARm) FCF impacted by higher CAPEX and lower EBITDA CAPEX taking advantage of scale of Ooredoo Group and global sourcing strategy Note: Free Cash Flow = Net Profit plus Depreciation & Amortization less CAPEX; CAPEX excludes license fee obligations; Net Profit adjusted for extraordinary items Ooredoo Group H1 2017

Group Results Total Customers Total Customers (000) Review Operations Additional Information Overview Total Customers (000) Stable customer base, slight YOY increase driven by Indonesia, Iraq, Tunisia, Maldives and Palestine Sequentially reduction by 14 million due to SIM registration/new regulation in Indonesia Ooredoo Group H1 2017

Net Debt (QARm) and Net Debt / EBITDA Group Results Net Debt Results Review Operations Additional Information Overview Net Debt (QARm) and Net Debt / EBITDA QoQ up from 1.8x to 2.0x due to dividend payout, regulatory payments in Qatar Myanmar and Oman Mid point of the board guidance between 1.5 and 2.5x (bank covenant 4x)

2018 Full Year Guidance over 2017 Group Results 2018 Q1 performance summary Results Review Operations Additional Information Overview Group Financials (QAR bn) Q1 2018 Actual % Change Q1 2018 / Q12017 2018 Full Year Guidance over 2017 Revenue 7.8 -3% -1.5% to +1.5% EBITDA 3.0 -11% CAPEX 0.9 28% 5 bn to 6 bn Slow start of the year due to market challenges in Indonesia and Algeria. Ooredoo Group H1 2017

Contents Results review Operations review Additional information Ooredoo Group H1 2017

Group Operations Qatar QARm Ooredoo Qatar Ooredoo Group H1 2017 Overview Results Review Operations Review Additional Information QARm Ooredoo Qatar Strong No.1 position maintained - YoY revenue negatively impacted by Mobile Voice and Roaming revenues partially offset by Ooredoo TV EBITDA impacted by lower revenue, however effective cost control Customer numbers decreased by 3% sequentially to reach 3.33 million mainly due to Prepaid base clean-up Introduced “Freedom services”, a customer friendly roaming product with bill protection Ooredoo App reached the milestone of 1 million downloads Ooredoo’s Fibre-to-the-Home network now covering the whole country with 373k customers connected Revenue EBITDA & Margin 1 USD = 3.6415 Qatari Riyal (QAR) Ooredoo Group H1 2017

Group Operations Indonesia QARm Indosat Ooredoo (IO) Overview Results Review Operations Review Additional Information QARm Indosat Ooredoo (IO) Revenue EBITDA & Margin Drop in Revenue due to weaker consumer business, only partially offset by stronger B2B sector (+4%) New Government SIM card registration legislation caused pressure on top line performance. IO proactively applying new legislation in strict compliance with rules / regulations, Customer numbers (down by 14 million QoQ) due to new Sim registration and change in distribution strategy (IO business model changed from a “push” to “pull” marketing strategy) Negative short term impact on revenue, long term positive impact expected from churn reduction, more stable customer base and lower distribution cost Cost control initiatives resulted in 11% YoY decrease in total expenses More than half of Indonesian population covered by 4G network Cellular data Revenue reaching 69% of mobile revenue Revenue IDRbn1 EBITDA & Margin 1 USD = 13,556 Indonesia Rupiah (IDR)2 Note: Average rate over the period (IDR) Ooredoo Group H1 2017

Group Operations Iraq QARm Asiacell Ooredoo Group H1 2017 Overview Results Review Operations Review Additional Information QARm Asiacell Revenue In Mosul, Kirkuk, Salahadeen and other areas more sites are back on-air, after liberation of occupied areas This resulted in a healthy revenue trend (+6%) in a more stable market Opex control and higher revenue enable EBITDA improvement 13m customers representing an increase of 7%, mainly coming from Mosul and liberated areas. EBITDA & Margin 1 USD = 3.6415 Qatari Riyal (QAR) Ooredoo Group H1 2017

Group Operations Oman QARm Ooredoo Oman Ooredoo Group H1 2017 Overview Results Review Operations Review Additional Information QARm Ooredoo Oman Revenue Total revenue stable with increase in fixed line Prepaid business impacted by standardization of “Welcome packs” for the whole market Customer base remains strong at just over 3 million With the mobile market reaching higher penetration levels, competition has continued to intensify in Q1 2018. Room for growth in home and mobile broadband, as well as corporate services No new information with regards to 3rd operator EBITDA & Margin 1 USD = 0.38463 Omani Rial (OMR)1 Note: (1) Constant pegged currency Ooredoo Group H1 2017

Group Operations Kuwait QARm Ooredoo Kuwait Ooredoo Group H1 2017 Overview Results Review Operations Review Additional Information QARm Ooredoo Kuwait Revenue EBITDA & Margin Strong Revenue growth was driven by post-paid packages in combination with handset sales Intense competition Overall market impacted by soft economy resulting in a 5% drop in customer numbers to 2.2 million Lower service revenue and higher handset sales led to a compression of margins and a decline of EBITDA Improved distribution channel due to “Phono” gaining traction Successful launch of Samsung Galaxy S9 and S9+ with an attractive offer received a lot of traction in the market Revenue KWDm EBITDA & Margin 1 USD = 0.3002 Kuwait Dinar (KWD)1 Note: Average rate over the period (KWD) Ooredoo Group H1 2017

Group Operations Algeria QARm Ooredoo Algeria Ooredoo Group H1 2017 Overview Results Review Operations Review Additional Information QARm Ooredoo Algeria Revenue EBITDA & Margin Shrinking market is due to a weak economy, inflation and cuts in social subsidies impacting purchasing power of customers and aggressive pricing from competition Ooredoo Algeria maintains strong market position especially in mobile data Increase in taxes (0.5% recharge and 0.5% on overall revenue from January 2018 onwards) Ongoing cost optimization efforts to offset overall revenue market decline Customer number decreased by 3% to 13.5 million Successful launch for home broadband product: Sahla box Revenue DZDm EBITDA & Margin 1 USD = 114.0 Algerian Dinar (DZD)¹ Note: Average rate over the period (DZD) Ooredoo Group H1 2017

Group Operations Tunisia QARm Ooredoo Tunisia Ooredoo Group H1 2017 Overview Results Review Operations Review Additional Information QARm Ooredoo Tunisia Revenue EBITDA & Margin Revenue growth in local currency terms by 8% compared to 2% reported Growth driven by strong B2C mobile, B2B business and fixed line (more than doubled) Leadership in mobile maintained, continuing data growth yoy  Handset sales improved smart phone penetration at cost of slightly lower EBITDA margin (down by 1%) Customers up by 7% to reach 8.5 million Rapid expansion of 4G roll-out New roaming passport bundle launched Revenue TNDm EBITDA & Margin 1 USD = 2.430 Tunisian Dinar (TND)1 Note: Average rate over the period (TND) Ooredoo Group H1 2017

Group Operations Myanmar QARm Ooredoo Myanmar Ooredoo Group H1 2017 Overview Results Review Operations Review Additional Information QARm Ooredoo Myanmar Revenue EBITDA & Margin Strong top-line performance: driven by service revenue growth YoY underpinned by growth in customer ARPU mainly from increased data revenue Data and Digital revenue was a key growth engine for the quarter Highest ever EBITDA margin underpinned by strong OPEX management in Q1 2018, positive trend continues Ooredoo completed the nationwide 2G launches covering all the regions of the country, while the 4G coverage was extended to 223 townships Market share increasing now serving 9.1 million customers up 15% qoq Myanmar fourth operator, Mytel, launched in March 2018 Revenue MMKbn EBITDA 1 US$ = 1,331 Myanmar Kyat (MMK) Ooredoo Group H1 2017

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Contents Results review Operations review Additional information Ooredoo Group H1 2017

Additional Information Key Operations Importance to Group Overview Results Review Operations Review Additional Information Additional Information Key Operations Importance to Group Revenue (QARm) EBITDA (QARm) Ooredoo Group H1 2017

Customer Breakdown (%) Q1 2018 Total Customers = 150 million Group Operations Breakdown CAPEX & Customers Overview Results Review Operations Review Additional Information CAPEX Breakdown (%) Customer Breakdown (%) Q1 2018 CAPEX = QAR 939 million Q1 2018 Total Customers = 150 million Ooredoo Group H1 2017

Group Results Total Group Debt Breakdown Overview Results Review Operations Review Additional Information Total Group Debt (QARm) Total Group Debt Breakdown (as at March 31, 2018) Total Group debt reduced, well balanced profile OpCo debt primarily in local currency Note: Qatar debt includes Ooredoo International Finance Ltd. and Ooredoo Tamweel Ltd. Group debt does not include vendor financing and finance lease Ooredoo Group H1 2017

Group Results Debt Profile – Ooredoo Q.P.S.C. level Overview Results Review Operations Review Additional Information Loan Type (in USD mn) Amount Usage Rate* Maturity QAR3bn RCF 824 QAR Money Market 31 Jan 2020 USD1bn RCF 1,000 Libor + 100bps 17 May 2019 USD 500mn RCF 500 Libor + 88bps 06 May 2020 USD150mn Term Loan 150 Libor + 90bps 31 Aug 2020 870 Libor+ 140bps 07 Jun 2022 Bonds/Sukuk (in USD mn) Issue Amount Interest/ Profit Rate Maturity Listed in Fixed Rate Bonds due 2019 600 7.875% 10 Jun 2019 LSE Fixed Rate Bonds due 2021 1,000 4.75% 16 Feb 2021 Fixed Rate Bonds due 2023 3.25% 21 Feb 2023 ISE Fixed Rate Bonds due 2025 750 5.00% 19 Oct 2025 Fixed Rate Bonds due 2026 500 3.75% 22 Jun 2026 Fixed Rate Bonds due 2028 3.875% 31 Jan 2028 Fixed Rate Bonds due 2043 4.50% 31 Jan 2043 Sukuk due 2018 1,250 3.039% 03 Dec 2018 Total Loans 3,474 m 2,520 m Total Bonds and Sukuk 6,100 m Total outstanding debt as at 31 March 2018 at Ooredoo Q.P.S.C. level USD 8,620 million * Based on the rates applicable for the usage levels QNB facility extended for another two years Long term debt profile is well balanced Ooredoo Group H1 2017

Additional Information Statutory Corporate Tax Rates Overview Results Review Operations Review Additional Information Notes Statutory Tax Rate Losses C/Fwd Allowed Algeria 27% 4 years Indonesia 25% 5 years Iraq 15% Kuwait 18% 3 years GCC companies (including NMTC)are exempted and are subjected to 4.5% Zakat, KFAS & national Labour Support Tax on consolidated profits Maldives Myanmar Oman Palestine 20% Qatar 10% Qatari/GCC owned companies and companies listed on Qatar Exchange are exempt Singapore 17% Indefinitely Tunisia 35% 1) 25% is the standard tax rate; 2) 35% tax rate applies to oil companies, banks, financial institutions including insurance companies and telecommunication companies Ooredoo Group H1 2017

Group Operations Breakdown Blended ARPU Overview Results Review Operations Review Additional Information Qatar (QAR) Iraq (QAR) Oman (QAR) Maldives (QAR) Palestine (QAR) Indonesia (QAR) Kuwait (QAR) Tunisia (QAR) Algeria (QAR) Myanmar (QAR) Indonesia (IDR’000) Kuwait (KWD) Tunisia (TND) Algeria (DZD) Myanmar (MMK’000) Ooredoo Group H1 2017

Next Quarterly Results (tbc) July 26th Thank You