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

2. 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

3. Contents Results review Operations review Additional information
Ooredoo Group H1 2017

4. Group Results Key Highlights Financial highlights:
Review
Operations
Additional
Information
Overview
Group Results
Key Highlights
Financial highlights:
Q 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 Q
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 Customer base increased 55% to more than million at the end of March 2018.
Ooredoo Group H1 2017

5. 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

6. 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

7. 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

8. 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

9. 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)

10. 2018 Full Year Guidance over 2017
Group Results
2018 Q1 performance summary
Results
Review
Operations
Additional
Information
Overview
Group Financials
(QAR bn)
Q Actual
% Change
Q /
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

11. Contents Results review Operations review Additional information
Ooredoo Group H1 2017

12. 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 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 = Qatari Riyal (QAR)
Ooredoo Group H1 2017

13. 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

14. 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 = Qatari Riyal (QAR)
Ooredoo Group H1 2017

15. 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 Q 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 = Omani Rial (OMR)1
Note: (1) Constant pegged currency
Ooredoo Group H1 2017

16. 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 = Kuwait Dinar (KWD)1
Note: Average rate over the period (KWD)
Ooredoo Group H1 2017

17. 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 = Algerian Dinar (DZD)¹
Note: Average rate over the period (DZD)
Ooredoo Group H1 2017

18. 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 = Tunisian Dinar (TND)1
Note: Average rate over the period (TND)
Ooredoo Group H1 2017

19. 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

20. Extel 2018 Survey
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21. Upcoming IR events:
We will be in London on May 9 at the QE and DB conference
Still some slots available for May 10, please do contact the IR team if you want to meet in London

22. Contents Results review Operations review Additional information
Ooredoo Group H1 2017

23. 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

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

25. 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

26. 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

27. 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

28. 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

29. Next Quarterly Results (tbc) July 26th
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