MOBILE TELECOMS FINANCIAL RESULTS 2017 APRIL 2018

SERVICE REVENUES In 2017, service revenues reached €1.87B, while total revenues amounted to €2.09 B. Data revenues consist 18.5% of service revenues. Source: Operators financial information The industry showed the first increase in revenues in 2017 since 2008, with data revenues contributing more than 100% of the increase

EBITDA & NET PROFITS In 2017 the industry’s EBITDA reached €689M (33% margin), whereas net profits before tax amounted to €133M (6.4% margin) Source: Operators financial information Vodafone: Financial figures from fiscal year 01.04.2016 – 31.03.2017 The continuing recovery on revenues should further strengthen profits in 2018, facilitating the funding of the required capex

VOLUMES PER SERVICE In 2017 data volumes increased rapidly (89.5%), while messages (SMS & MMS) continued to decline (18.5% in 2017), as subscribers use IP apps. Voice minutes increased by 2.5% and have remained at 26M-28M with small variations for many years. Source: Operators financial information Greece is following international trends in data usage with delay, but the data usage rate per subscriber, remains at very low levels (0.6GB per subscriber per month) compared to other developed countries (OECD: 2.3GB per subscriber per month in 2016)

CAPEX The industry’s capex without spectrum licenses reached €334M in 2017. As a proportion of service revenues they increased to 17.8% and as a proportion of EBITDA they went up to 48.4%. Including license fees they amounted to €537M. The share of revenues that is directed to research and development (R&D) is 3.6%, while in the Greek economy R&D spending is at 1% of GDP Source: Operators financial information

PRICES Pre-tax prices for voice declined by 6.8% and for data by 38.4% in 2017. Source: Operators financial information From 2010 to 2017, pre-tax prices per voice minute have fallen by 48% and per gigabyte by 80%.

PUBLIC REVENUES Public revenues from taxes and social security contributions in 2017 are estimated at €1,252M, higher by 2.9% from 2016. Source: Operators financial information Vodafone: Financial figures from fiscal year 01.04.2016 – 31.03.2017 Government revenues from spectrum licensing fees reached €204M, raising the public revenues total at €1,456M