Telecom Egypt today announced an organizational transformation initiative approved by its Board of Directors. The transformation is designed to enhance the Company’s strategic focus and operational agility while reinforcing its customer-centric approach. It includes structural realignments across key business functions and the appointment of new leadership roles to support the next phase of the Company’s growth.

The initiative aims to accelerate decision-making, strengthen execution, and ensure sustainable growth through clear accountability, optimized operations, and strategic leadership alignment.

As part of the transformation, Telecom Egypt’s commercial operations have been restructured into two focused business sectors— Consumer and Enterprise —to enable sharper strategic alignment and improved responsiveness to customer needs. The Consumer Sector now focuses on individual and home customers, driving growth through a streamlined portfolio and improved service models. The Enterprise Sector serves corporate, institutional, and government clients, delivering integrated communication and digital solutions that support Egypt’s ongoing digital transformation.

To ensure full alignment between commercial strategy and service delivery, the Customer Service function has also been realigned to operate within each sector, through functionally and organizationally integrated units, establishing clear accountability for customer experience and service performance.

Furthermore, the Board appointedMr. Mohamed Eltouny as Chief Consumer Officer, responsible for leading the commercial strategy and operations of the Consumer Sector, with a focus on accelerating growth, improving commercial efficiency, and enhancing overall customer value and profitability.

The Board also approved transferring Mr. Ramy Kato from Chief Customer Officer to Chief Enterprise Officer. In this role, he will lead Telecom Egypt’s enterprise, corporate, and government business, driving expansion through strategic partnerships and advancing digital transformation initiatives in alignment with Egypt’s Vision 2030 for a digitized economy.

Recognizing the critical role of technology as an enabler of growth and innovation, the Board appointedMr. Ahmed El-Fouly as Chief Information Officer.He will oversee the modernization and expansion of Telecom Egypt’s information and digital infrastructure, advancing innovation, automation, and data driven capabilities across all business functions. He will ensure that the Company’s information systems remain fully aligned with its strategic objectives, enabling greater efficiency, resilience, and scalability. This appointment underscores Telecom Egypt’s commitment to strengthening its digital foundations, fostering innovation, and delivering long term value to customers and shareholders.

Telecom Egypt|WE announced its sponsorship of the Egyptian Women's Summit 2025 initiative, which aims to support women and youth in future fields of work related to science, technology, engineering, mathematics, artificial intelligence, innovation, and entrepreneurship. The initiative seeks to bridge the gap between educational outcomes and labor market needs, provide youth with training and employment opportunities, and build relationships with executive leaders and international experts.

The summit witnessed distinguished participation from Telecom Egypt professionals, who delivered a series of workshops covering topics such as fostering innovative talents in the era of artificial intelligence, the secure Internet, and artificial intelligence for good, to transfer professional experiences to future generations.

This sponsorship comes as part of Telecom Egypt's corporate social responsibility strategy, and reflects the company’s commitment to supporting youth and women’s empowerment initiatives, promoting innovation in the fields of technology, supporting entrepreneurship, developing the knowledge- based economy, and strengthening Egypt's position as a regional center of technological excellence. This initiative focuses on establishing a national ecosystem for innovation and employment, developing future skills through collaboration between the government and the private sector, enhancing women's participation in the fields of science and technology, and supporting young entrepreneurs by training approximately6,000 male and female students from 30 Egyptian universities.

It is noteworthy that Telecom Egypt has provided many integrated initiatives aimed at building capabilities, supporting education, and promoting innovation. Among these initiatives is"She Leads"which provided specialized training to more than 825 female students in ten governorates and helped them transform their ideas into innovative projects with economic and social impact. The company also contributed to preparing highly qualified young talent by providing full scholarships in the fields of engineering and computer science to university students at institutions such as Zewail University and Egypt University of Informatics, to qualify a generation capable of leading the communications sector and driving digital transformation.

Telecom Egypt, as part of the2Africa consortiumalong with Bayobab, center3, China Mobile International, Meta, Orange, Vodafone Group, and WIOCC, announced the completion of the core 2Africa infrastructure—a landmark subsea cable system setting a new standard for global connectivity.

The 2Africa project is the product of years of close collaboration, technical innovation, and a shared vision among the consortium partners to connect communities, drive economic growth, and enable transformative digital experiences across Africa and beyond.;

2Africa is the first cable to directly connect East and West Africa in a continuous system. The cable system also links the continent to the Middle East, South Asia, and Europe. With landings in more than33 countriesand counting, 2Africa will help enable connectivity for3 billion people—representingmore than 30 percent of the world’s population. This scale is unprecedented and was only possible through the collective effort of stakeholders across the ecosystem.

The cable system delivers a step change in international bandwidth for Africa. On the West segment, from England to South Africa, 2Africa supports21 Tbpsper fiber pair with8 fiber pairson the trunk, totaling168 Tbps.In the Mediterranean, shorter distances allow for more than 30 Tbps per fiber pair, and with 16 fiber pairs, the system can deliver over180 Tbpsin these segments.;

2Africa lands in Egypt, on the Red Sea, at Ras Ghareb, and on the Mediterranean, at Port Said. Both landing points are connected terrestrially via two trans-Egypt routes adjacent to the Suez Canal. The crossing solution, deployed with next-generation fiber technology, offers seamless optical paths betweenAfrica, Asia, and Europe.It is complemented by the Red Sea subsea festoon, which connects the Ras Ghareb, Zafarana, and Suez, adding an extra layer of diversity to the crossing.

This leap in capacity is expected to contribute up toUSD 36.9 billionto Africa’s GDP within the first two to three years of operation, boosting job creation, entrepreneurship, and innovation hubs across the continent. 2Africa’s success is rooted in strong partnerships, with the consortium sharing a unified goal: to build an open, inclusive network that fosters competition and supports innovation. With the Pearls extension, 2Africa will span45,000 kilometers—morethan the circumference of the earth.

Taking nearlysix yearsto complete across 50 jurisdictions and requiring constant adaptation to dynamic regulatory landscapes, the cable’s success depended on strong partnerships and close collaboration with regulators and policymakers worldwide

2Africa delivers double the capacity of older systems. It deploys advanced SDM (Spatial Division Multiplexing) technology and undersea optical wavelength switching for flexible bandwidth management to meet the growing demands for AI, cloud, and high bandwidth applications. The system also features a 50 percent increase in cable burial depth, carefully routed to avoid seabed hazards. Over35 offshore vesselsand extensive local operations were mobilized, with specialist equipment to ensure safe and resilient installation across the different jurisdictions.

The completion of 2Africa demonstrates the consortium’s shared commitment to advancing connectivity and driving sustainable digital and economic growth. This investment in open, scalable infrastructure will continue to strengthen global network resilience and extend the benefits of digital transformation to billions of people worldwide.

For Telecom Egypt, the project further strengthens its position as the region’s central connectivity hub and reinforces its strategic role as the primary gateway linking Africa to the rest of the world. The company’s participation in the consortium aligns with its long-term strategy to expand international infrastructure capacity, monetize its assets, and enhance Egypt’s leadership in global data transit.

Telecom Egypt and the Egyptian Computer Emergency Readiness Team (EG-CERT); (affiliated with the National Telecommunications Regulatory Authority celebrated, through their joint initiative WE INNOVATE, the honoring of the winners of the National Cybersecurity Competition sponsored bythe National Bank of Egypt (NBE).The celebration took place during the graduation and awards ceremony held on the sidelines ofthe Cairo ICT2025.

This partnership betweenTelecom Egypt|WE, the National Telecommunications Regulatory Authority, and the National Bank of Egypt’soutstanding support for the awards serves as a leading model of cooperation between the telecommunications and banking sectors to promote a secure digital economy and empower youth and entrepreneurs in the fields of innovation and cybersecurity.

During the ceremony, the National Bank of Egypt announced financial awards totalingEGP 1.2 millionto support the top winners, reaffirming its role as a strategic success partner and a key supporter of Egypt’s cybersecurity innovation ecosystem. The event was attended by senior leaders from Telecom Egypt, the National Telecommunications Regulatory Authority, and the National Bank of Egypt, as well as leaders from the technology and entrepreneurship community, accompanied by extensive media coverage and interviews with the winning teams.

The initiative also announced the selection of several outstanding teams to representEgypt at Black Hat 2025, one of the world’s leading cybersecurity conferences, under the sponsorship ofWE INNOVATE—providing them with unique opportunities for global exposure and professional growth. In his speech during the celebration, Eng. Tamer El-Mahdy, Managing Director and Chief Executive Officer of Telecom Egypt, expressed his happiness in honoring the winners, noting thatthe WE INNOVATE initiativehas evolved from being just an initiative into a comprehensive national ecosystem supporting Egypt’s cybersecurity strategy and enhancing the state’s readiness across all levels. He highlighted that since its launch, the initiative has successfully trained more than five thousand young men and women, graduated over one thousand specialists, and supported the launching of more than twenty startups that developed local solutions helping reduce reliance on imported licenses and strengthen national capabilities.

For her part, Eng. Walaa Salah El-Din, Chief Innovation and Cybersecurity Advisor to the CEO of Telecom Egypt, extended her appreciation to the National Telecommunications Regulatory Authority—WE INNOVATE’sstrategic partner, represented by EG-CERT, the National Bank of Egypt, for its outstanding support, and the execution partner, Entlaq. She also emphasized that such collaboration represents the true model for building a safe and sustainable digital industry.

Telecom Egypt |WE is participating strongly this year in the29th edition of Cairo ICT, the leading Middle East and Africa technology exhibition and conference. The event, one of the most prominent in the region’s technology industry, is held under the patronage ofthe Ministry of Communications and Information Technology, and will run from16 to 19 Novemberat the Egypt International Exhibition Center in New Cairo. The exhibition features the participation of ministries, government authorities, local and international companies, as well as top leaders and pioneers of technology from Egypt, the region, and around the world.

In its pavilion, the company showcases its efforts in developing the infrastructure and providing innovative technological solutions and services that meet the evolving needs of its customers.

During the exhibition, the company unveiled its ambitious strategic plan to expand the deployment ofFiber-to-the-Home (FTTH) technology, gradually reaching all customers. The plan includes migrating millions of customers to fiber-optic services over the next few years, with the aim of achieving a paradigm shift in the quality of fixed internet services and increasing connection speeds, ensuring that customers receive the highest levels of service quality.

This expansion comes in response to the growing demand for ultra-high speeds and future technologies such as artificial intelligence and the Internet of Things, and aligns with the state's objectives to realize a comprehensive digital transformation.

He added:"This plan covers the company’s customers across individuals, enterprises, real estate developers, and commercial projects, enabling the provision of integrated telecom services that support the digital economy and keep pace with the requirements of new urban development.

In this context, Telecom Egypt highlighted the provision of fixed internet speeds ofup to 500 Mbpsfor the first time in the Egyptian market, made possible through the company’s substantial and ongoing investments in infrastructure development and fiber-optic networks. This achievement reflects the company’s capability to deliver exceptional speeds that enable users to fully benefit from modern applications and support the state’s plans for digital transformation and the development of a knowledge-based economy.

The company also showcased in its pavilionthe “Ma'ak” service, which is specifically designed for the deaf and mute community. The service enables users to communicate via video calls with sign-language interpreters from the customer care team around the clock, ensuring an accessible and inclusive support experience that provides seamless access to services and rapid, efficient resolution of technical issues.

The Telecom Egypt pavilion further highlighted the advanced capabilities of itsdata centers, the international standards they adopt, and the range of digital services dedicated to enterprises and government entities to support digital transformation and enhance the services provided to citizens.

In addition, the pavilion featured an overview of theWE Innovate initiative, which aims to train and develop the skills of young people in the fields of cybersecurity and modern technologies, enabling them to develop innovative solutions to counter cyber threats and analyze data using artificial intelligence - thereby strengthening the protection of the digital infrastructure across vital sectors

On the sidelines of the 2025 Population, Health & Human Development Conference (PHDC 2025)

Telecom Egypt announced the signing of three Memorandums of Understanding(MoUs)with key partners in the healthcare sector to enhance the service portfolio of its digital health platform, WE Health Cloud. The agreements aim to introduce advanced AI-powered Clinical Decision Support Systems(AI-CDSS), comprehensive hospital automation solutions, and telemedicine services, in addition to new tools that elevate patient experience, reinforcing Telecom Egypt’s leadership in driving the digital transformation of the healthcare sector in Egypt.The MoUs were signed on the sidelines of the Population, Health & Human Development Conference PHDC 2025, which kicked off on November 12 under the sponsorship of Telecom Egypt.

WE Health Cloudoperates through locally secured data centers and has been developed in collaboration with global healthcare technology leaders. The platform unifies the healthcare experience across hospitals, clinics, laboratories, and diagnostic centers, offering a fully integrated ecosystem that includes,Electronic Medical Records (EMR/EHR), Hospital & Clinic Information Management Systems (HIMS), Revenue Cycle Management (RCM), Pharmacy, radiology, and laboratory management, Telemedicine services, Patient portal, Advanced analytical dashboards for administrators, and Full Arabic user interface and compliance with all local standards

The new partnerships included signing an MoU betweenTelecom Egypt and Vezeeta, the leading digital healthcare platform in the Middle East and Africa, to explore collaboration opportunities with WE Health Cloud. The partnership aims to jointly develop technological and digital solutions that enhancehealthcare servicesfor providers in Egypt, improving data integration and enabling easier access to medical services.

Telecom Egypt also signed an MoU with GuidelineX, a global AI-powered clinical decision support platform, and its local representative DTS, to integrate AI-driven clinical decision support tools and medical analytics into WE Health Cloud. This integration will support physicians in making accurate, guideline-based decisions using real-time clinical data analysis, improving diagnostic accuracy and reducing medical errors. The collaboration aims to strengthen Egypt’s digital health ecosystem across all hospitals.

A third MoU was signed with zMed and DTS to provide hospital automation solutions and remote intensive care(Tele-ICU) services. The partnership introduces intelligent systems for continuous critical-care patient monitoring and real-time AI analysis of vital signs, enabling early prediction of patient deterioration and reducing mortality rates

Rami Kato, Vice President of Customer Service – Telecom Egypt, said,“We believe that digital transformation in healthcare is a fundamental pillar of Egypt’s Vision 2030. Through these strategic partnerships, we aim to enrich our digital health solutions by integrating world-class technologies. WE Health Cloud is designed to elevate the national healthcare ecosystem by providing smart, secure, and comprehensive solutions that improve the quality of medical services, enhance patient safety, and build an interconnected digital healthcare infrastructure, positioning Telecom Egypt as a strategic partner in shaping Egypt’s digital health future.”

Dr. Ola Aladdin, Chief Operating Officer – Vezeeta commented:“We are delighted to sign this MoU with Telecom Egypt to explore collaboration with WE Health Cloud, as a strategic step that accelerates our vision to digitize the patient healthcare journey. Integrating Vezeeta’s technology with a secure and advanced digital infrastructure will help unify the patient journey, connect providers and supply chains, and ensure better service quality, patient safety, and wider access to smart healthcare nationwide. We believe this partnership will support Egypt’s Vision 2030 by implementing the highest global standards in data protection and service quality.”

Janet Shaw, Head of Product Development – GuidelineX, said:“Partnering with a national leader like Telecom Egypt enables us to deliver our advanced solutions in Egypt with world-class efficiency and reliability, powered by a scalable and secure cloud infrastructure. Integrating GuidelineX’s clinical tools and AI capabilities with WE Health Cloud will accelerate clinical decision-making, standardize care pathways, and enhance the quality of care across a fully connected health ecosystem. We are committed to delivering patient-centric digital experiences that improve outcomes and reduce variability in clinical practice.”

Eng. Mohamed Dessouky, CEO – DTS, stated“We are honored to represent zMed and GuidelineX in Egypt and to collaborate with Telecom Egypt. Together, we aim to bring cutting-edge AI and remote critical-care technologies to healthcare institutions across Egypt. Leveraging WE Health Cloud and Telecom Egypt’s secure infrastructure, we will accelerate the deployment of innovative healthcare solutions while maintaining the highest standards of data protection and compliance.”

Jayakanth S. Kesan, CEO & Managing Director – zMed, noted:“We are proud to partner with Telecom Egypt to introduce Tele-ICU and Critical Care Automation technologies that enhance the quality of critical-care services in Egyptian hospitals. Through seamless integration with WE Health Cloud and secure infrastructure, we provide real-time patient monitoring, unified dashboards combining device, lab, and imaging data, and AI-powered predictive analytics that support faster, more accurate clinical decisions, ultimately reducing mortality rates.”

• Total revenue up34% YoYtoEGP 78.1bn, led by Data(EGP 34.0bn), International Incoming Calls(EGP 10.2bn), and Domestic Infrastructure Services(EGP 7.8bn), driving54%, 15%, and8%of revenue growth, respectively.
• Customer base increased YoY across Fixed Voice, Fixed Broadband, and Mobile by7%, 8%, and 9%,respectively
• EBITDA rose48% YoYtoEGP 34.5bn, margin44%.
• Net profit increased96% YoYtoEGP 17.0bn— 22% margin vs 15% last year.
• In-service CapEx:EGP 12.2bn(16% of sales); Cash CapEx:EGP 20.9bn( (declining 30% YoY).
• Net debt/EBITDA (annualized) improved to1.5xcompared to2.3x in 9M2024.
• FCFF amounted toEGP 12.1bn, implying a FCFF/EBITDA ratio of35%.

EBITDA increased48% YoYtoEGP 34.5 billion, driven by solid revenue growth and operational efficiency, resulting in a solid margin of 44%. Net profit almost doubled YoY toEGP 17.0 billion, reflecting resilient operations and disciplined financial management. Stable net finance costs helped ease bottom-line pressure and preserve strong profitability despite regional headwinds. The period also saw enhanced cash flow and balance sheet metrics, with FCFF reachingEGP 12.1 billion (35% of EBITDA)and net debt-to-annualized EBITDA improving to1.5x from 2.3xa year earlier.

Looking ahead, I remain deeply committed to building on Telecom Egypt’s legacy of success and leadership. My focus will be on fostering an agile, innovation-driven organization that sustains growth and delivers long-term value for our shareholders. Together with our talented team, we will continue advancing our network and services to meet the evolving needs of our customers. With the trust of our Board, the dedication of our employees, and the loyalty of our customers, I am confident in our ability to strengthen Telecom Egypt’s position locally and regionally while contributing to the growth of Egypt’s digital economy.”

Telecom Egypt today announced the appointment ofTamer El Mahdi as Managing Director and Chief Executive Officer (CEO)succeedingMohamed Nasr, who has stepped down from his executive role and his membership on the Board of Directors. The Board approved the changes during today’s meeting, effective immediately. Additionally, the requests ofMohamed Al Fowey, VP & Chief Technical Officer, andAhmed Hassan, VP & Chief Human Resources Officer, to step down from their positions have been accepted. As part of his new role, El Mahdi will oversee the process of appointing successors to these positions, ensuring operational continuity and supporting the company’s strategic direction.

Lobna Helal, Chairperson of the Board of Directors of Telecom Egypt, commented: “The Board of Directors is pleased to announce the appointment of Tamer El Mahdi as Managing Director and CEO of the company. He brings over three decades of professional experience in telecommunications, information technology, digital transformation, and non-banking financial services, in addition to his leadership roles across multinational and investment companies operating in various local and international markets.

El Mahdi’s strong track record and wide-ranging expertise qualify him to lead Telecom Egypt into a new phase of growth and expansion, maximize the value of its assets and investments, and drive the company’s ambitious strategy to strengthen its customer base and enhance service quality at both local and international levels, meeting the aspirations of our shareholders and customers alike. We wish him every success in his new role.

I would also like to extend my deepest gratitude and appreciation to Mohamed Nasr, the former CEO, for his dedicated efforts and leadership during a challenging period. We wish him continued success in his future endeavors.”

Tamer El Mahdi Biography

Tamer El Mahdi was appointed to the Board of Directors as a representative of the Egyptian government in March 2025. With over 30 years of experience, El Mahdi has served as Founder and Chairman of Trade Globe and Terrawaves Networks since 2020, overseeing global operations in telecom consultancy, network design, and digital infrastructure development. His career spans executive leadership in multinational corporations and investment firms across various sectors, including telecommunications, digital transformation, fintech, real estate, mining, and non-banking financial services.

From 2014 to 2019, he served as Group CEO of Orascom Telecom Media and Technology (OTMT), leading its strategic transformation and diversification across multiple industries and regions, including Europe, South Asia, and the Middle East. Before that, he was CEO of Orascom Telecom Algeria (Djezzy), Algeria’s largest mobile operator, from 2008 to 2013.

During his tenure at Orascom Telecom Holding, he held key leadership roles, including Group CTIO (2003-2008), where he managed multi-billion-dollar investments and launched mobile operations in Canada, Bangladesh, Iraq, and North Korea.

Early in his career, El Mahdi held leadership positions at AT&T, managing large-scale telecom infrastructure projects across North Africa. A seasoned board member, he has served on the boards of Orascom Telecom, Beltone Financial Holding, Contact Financial Holding, and other prominent firms in Egypt and internationally.

El Mahdi holds an MBA in International Business Administration from the Maastricht School of Management, a Master’s in Project Management from George Washington University, a Master’s in Electrical & Electronic Engineering from California State University, and a Bachelor’s degree in the same field from Cairo University.

Telecom Egypt, the total telecom operator in Egypt and one of the largest subsea cable operators in the region, announced the establishment of a new Point of Presence (PoP) at theAqaba Digital Hub (ADH) in Jordan, in a move towards a more connected and resilient future. This strategic expansion not only extends Telecom Egypt’s global network into ADH, which is the largest carrier-neutralTier III data centerin Jordan, and one of the largest in the region, but also reinforces its commitment to fostering meaningful partnerships that drive digital transformation. As the world increasingly demands high-bandwidth solutions, this new PoP will serve as a vital interconnection hub, enabling seamless data exchange and facilitating the efficient flow of regional traffic. The collaboration with ADH allows Telecom Egypt to enhance connectivity across the Middle East, providing businesses and hyperscalers with the reliable, high-capacity infrastructure they need to thrive in today’s digital economy.

This announcement follows the successful launch of the Coral Bridge subsea cable, an express petabit,15-kilometerlink between Egypt and Jordan, developed in partnership with NaiTel, the telecom arm of ADH. This innovative cable connectsTelecom Egypt’s Taba landing point in Sinai, Egypt, to ADH’s open-access facility in Aqaba, establishing a robust framework for future growth and collaboration. The Coral Bridge system aligns perfectly with the new PoP by providing a robust foundation for onward connectivity. Together, these developments position Telecom Egypt and ADH as pivotal players in addressing the region’s connectivity challenges, supporting everything from cloud services and AI-driven applications to international data transit.

Telecom Egypt is committed to investing in its international infrastructure, which encompasses multiple subsea cable systems and landing points, to meet the ever-evolving demands of global digital traffic. By partnering with leading industry players, the company continues to achieve impactful results, driven by the belief that collaboration is the key to a future where connectivity is limitless.

Eyad Abu Khorma, Founder and Chief Executive Officer of Aqaba Digital Hub, commented:“Telecom Egypt’s new PoP at Aqaba Digital Hub, together with the Coral Bridge subsea cable, jointly developed between Telecom Egypt and ADH’s Telecom Arm, NaiTel, marks transformative steps for the region. By combining Egypt’s global subsea reach with Aqaba’s neutral landing station and Tier III data center, we are building resilient routes and opening digital gateways that strengthen connectivity across Jordan, the Middle East, and beyond.”

Telecom Egypt today announced that its Board of Directors, in its meeting held on 3 September 2025, has granted its preliminary approval of the binding offer submitted by Helios Investments to acquire a stake ranging from 75% to 80% in a subsidiary that will own theRegional Data Hub (RDH). The subsidiary owned by the two parties will engage in the business of data center development in Egypt, following the restructuring of said assets in a subsidiary, in accordance with the relevant procedures to be followed in that respect. Upon completion, Helios Investments' share shall range from approximately 75% to 80% stake in the subsidiary, while Telecom Egypt will retain approximately a20% to 25%stake. The Board further approved signing the term sheets relating to the terms and conditions of the transaction and approved the appointment of an independent financial advisor, registered with the Financial Regulatory Authority, to determine the fair value of RDH.

The binding offer submitted by Helios Investments comprises an aggregate valuation of 100% of RDH on a debt-free, cash-free basis of USD 230 million and could reach up toUSD 260 million, subject to the satisfaction of certain pre-agreed KPIs, as will be outlined in the definitive agreements.

Completion of the transaction will be subject to the agreement on the terms and conditions of the final definitive agreements and its execution; the completion of the restructuring of the RDH within a subsidiary of Telecom Egypt; the agreement on the terms and conditions of ancillary transaction documentation; the satisfaction of several conditions precedents, including but not limited to, the completion of the fair value report to be prepared by the appointed independent financial advisor, the corporate approvals of the Company, and the satisfaction of all the requirements of Article 43 (bis) of the Listing and Delisting Rules of the Egyptian Exchange, and the receipt of all necessary approvals from the relevant regulatory authorities.

EFG Hermes is acting as the sole M&A financial advisor on the transaction. ADSERO-Ragy Soliman & Partners and A&O Shearman are acting as the legal advisors for Telecom Egypt.

NaiTel, a licensed telecommunications service provider in Jordan and the telecom arm ofAqaba Digital Hub (ADH), and Telecom Egypt, the total telecom operator in Egypt and one of largest subsea cable operators in the region, announce the completion of the laying of the express subsea cable“Coral Bridge”connecting Egypt and Jordan. Coral Bridge subsea system has successfully landed in Taba, Egypt, then it was laid across the Gulf of Aqaba until it finally successfully landed in Aqaba, Jordan. Coral Bridge is the first direct subsea cable between the two countries in over 25 years, providing an express high-fiber-count digital link across the Gulf of Aqaba, marking a major milestone in the region’s digital infrastructure development.

On the Egyptian side, Coral Bridge is the first telecommunication subsea system to land at Telecom Egypt’s new cable landing point in Taba—part of the company’s broader, recently established international digital infrastructure in Sinai Peninsula. In Jordan, the cable landed atADH’s Tier IIIcarrier-neutral facility in Aqaba, supporting redundancy and recovery strategies for businesses, including enterprises and hyperscalers hosted in the data center.

By leveraging on both countries’ strategic locations and Telecom Egypt’s extensive subsea ecosystem,Coral Bridgeprovides seamless onward connectivity across Asia, Africa, and Europe benefiting local, regional, and international businesses. The 15-kilometer cable, equipped with 48 fiber pairs, is designed for transporting over 1 Petabit of data traffic, supporting the growing demand for data intensive digital applications such as cloud computing and artificial intelligence. In addition, its short length significantly reduces latency and lowers data costs.

Coral Bridge is engineered to the highest technical and environmental standards. The cable was developed with sustainability in mind, balancing capacity and performance with environmental responsibility. This collaboration betweenADH/NaiTel and Telecom Egyptstands as a strong example of how cross-border partnerships can unlock long-term value and pave the way for future infrastructure initiatives across the Middle East and beyond.

• Total revenue increased by33% YoY, reachingEGP 50.6bn, driven by a47%surge in Data revenue, as well as significant gains in International Incoming Calls, up50% YoY.
• Customer base: Mobile+12%, Fixed Broadband+8%, Fixed Voice+6%YoY.respectively
• EBITDA:EGP 22.1bn(+43% YoY), margin44%.
• Normalized net profit:EGP 10.3bn(+50% YoY), 20% margin.
• Net debt/EBITDA (annualized) improved to1.6xfrom 2.4x in H1 2024.
• FCFF:EGP 8.1bn(36% of EBITDA).

also showed improved cash flow and debt structure KPIs. FCFF reached EGP 8.1 billion, representing36% of EBITDAinH1 2025. Additionally, net debt/annualized EBITDA reached1.6x from 2.4xlast year.

Looking ahead, we will continue investing in our robust network infrastructure while maintaining a focus on financial and operational excellence. Our priorities remain to strengthen our core business, drive sustainable profitability, and create long-term value for our shareholders. I am confident that our talented team and resilient business model will enable us to navigate future challenges and seize new opportunities in the rapidly evolving digital ecosystem.”

Telecom Egypt, the total telecom operator in Egypt and one of the largest subsea cables operators in the region, along with SubCom, the global subsea data system supplier, announced the successful completion of the two landings of the Southeast Asia-Middle East-Western Europe6 (SEA-ME-WE-6)subsea cable system in Egypt: one in Port Said on the Mediterranean coast, and the other in Ras Ghareb on the Red Sea.

Telecom Egypt facilitated the connection between the two coastal landing points by ensuring diverse and resilient terrestrial crossing routes were in place. With this,the SEA-ME-WE-6subsea cable has completed its landing activities in Egypt. This milestone marks a significant step in the ongoing expansion of the cable system, which is expected to further strengthen connectivity across the region once it becomes operational.

SEA-ME-WE-6 is the sixth edition of the SEA-ME-WE cable system family. The system connects Singapore (Tuas) to France (Marseille), crossing Egypt’s territory terrestrially. SubCom serves as the contractor responsible for building the subsea cable system.

Upon completion,the SEA-ME-WE-6 cable systemwill establish a strategic connection between Africa, Asia, and Europe through its 17 landing points, significantly enhancing global network infrastructure. Spanning a distance of 21,700 km, the system’s consortium comprises 16 major subsea cable providers, including Telecom Egypt, alongside BEYON B.S.C (Bahrain), Bangladesh Submarine Cables PLC, Bharti Airtel Ltd. (India), China United Network Communications Group Company Limited, Dhiraagu (Maldives), Djibouti Telecom, Microsoft (United States), Mobily (Saudi Arabia), Orange (France), PCCW Global, Singtel (Singapore), Sri Lanka Telecom, Telekom Malaysia, Telin (Indonesia), and Trans World Associates (Pakistan).

Telecom Egypt| WE announced the donation of Egypt’s first specialized neonatal cardiac surgery unit for infants under 45 days old toAl Nas Hospitalfor the free treatment of heart and digestive diseases. A delegation from Telecom Egypt, including Lobna Helal, Chairwoman of the Board,Eng. Mohamed Nasr, Managing Director and CEO, along with several board members and executives, inaugurated the new unit, where they were received by Mr. Ayman Abbas, Treasurer of Al-Joud Foundation.

The newly established unit has been specifically designed to treat newborns suffering from congenital heart defects, prioritizing critical cases that may lose their chance of survival or treatment without immediate surgical intervention. The unit comprises 12 intensive care rooms and a major operating room, enabling the hospital to perform two major cardiac surgeries per day. The proximity of the ICU rooms to the operating room helps reduce the risk of post-operative infections, shortens the duration of intensive care stays, and increases the hospital’s capacity to admit and treat a larger number of infants.

This initiative comes within the framework ofTelecom Egypt |WE’s corporatesocial responsibility strategy, in which children’s health represents a central pillar. It also reflects the company’s commitment to supportingEgypt's Vision 2030, which aims to improve the quality of healthcare services, saving the lives of thousands of patients, alleviating the suffering of underprivileged families, and performing urgent and critical surgeries with the highest standards of quality and in the shortest possible time — the core purpose behind establishing the unit.

For his part, Mr. Ayman Abbas expressed his sincere appreciation and gratitude to Telecom Egypt|WE for its continuous support to Al Nas Hospital, emphasizing the importance of this partnership and its contribution to the hospital's mission of delivering exceptional medical services to a large number of patients from various governorates. Abbas stated:“Al Nas Hospital represents a unique global model in the fields of cardiac surgery, gastroenterology, and diabetes care, distinguished by the scientific and technological advancements integrated across its medical departments."

It is worth noting that Telecom Egypt has launched several initiatives in support of Al Nas Hospital, including funding urgent surgical procedures for newborn infants, in addition to providing the hospital with telecommunications and internet services that enhance operational efficiency and facilitate seamless information exchange among medical teams.

Telecom Egypt has signed a Memorandum of Understanding(MoU) with KareXpert, a leading company for AI-powered healthcare technology, to launch a fully integrated digital health ecosystem operated through a secure cloud environment locally hosted within Telecom Egypt’s data centers. The ecosystem combines a comprehensiveHospital Information Management System (HIMS), unified electronic medical records, and revenue cycle management solutions, providing hospitals with a single, consolidated view of their clinical and administrative data and enhancing operational efficiency in line with global best practices.

The platform features seamless integration with existing systems within medical institutions, in addition to a unified digital payment pathway that simplifies billing processes and accelerates revenue collection while ensuring data privacy and regulatory compliance. The secure local hosting provides full sovereignty over healthcare information, while the cloud-based architecture enables the future incorporation of artificial intelligence and Internet of Things applications.

This collaboration reflects Telecom Egypt’s substantial investments in fiber-optic infrastructure and secure data centers, transforming these capabilities into advanced digital solutions that support the services sector—across individuals, businesses, and government entities—and drive the national digital transformation agenda in alignment with Egypt’s Vision 2030.

The MoU was signed during the Africa Health ExCon 2025 exhibition and conference in Cairo, coinciding with the signing of another MoU with the International Eye Center in Ismailia, becoming the first medical institution to adopt the new system in preparation for linking it to the Comprehensive Health Insurance System—marking a significant step toward digitizing healthcare services across the country.

In a landmark move to advance global connectivity, a consortium of four powerful subsea cable operators, namely PCCW Global, Sparkle, Telecom Egypt, and Zain Omantel International (ZOI), has signed a Memorandum of Understanding (MoU) to collaborate on the construction ofthe Asia-Africa-Europe-2 (AAE-2) subsea cable system.The project aims to establish a robust next-generation subsea digital link connectingHong Kong and Singapore to Italy, traversing secure and high-capacity terrestrial corridors across Thailand, the Arabian Peninsula, and Egypt. It is planned to strategically deliver unprecedented capacity and foster seamless, reliable connectivity across the three continents.

AAE-2will also feature strategic extensions to additional key destinations across its route, further enhancing intercontinental connectivity and supporting the growing demands of cloud services, content delivery, and digital transformation initiatives across the regions.

This ambitious initiative is designed to revolutionize global connectivity by delivering a geographically diverse, resilient, and high-performance route for international traffic. By integrating both subsea and terrestrial infrastructure, AAE-2 will create a future-proof data highway between Asia, Africa, and Europe.

Building on the legacy of the AAE-1 cable, AAE-2 will incorporate the most advanced technological innovations, offering unprecedented bandwidth capacity to serve the tremendous traffic needs and empowering communities and businesses across Asia, Africa, and Europe

The project is spearheaded by industry leaders PCCW Global, Sparkle, Telecom Egypt, and ZOI, combining expertise and resources to deliver a world-class infrastructure. This groundbreaking project marks a vital step in addressing the increasing demand for robust internet infrastructure, facilitating faster data transfer and improved connectivity across multiple regions. The consortium is dedicated to ensuring the successful delivery of this transformative infrastructure project, which will play a crucial role in shaping the future of global connectivity.

Frederick Chui, Chief Executive Officer of PCCW Global, commented:"PCCW Global is proud to contribute to the AAE-2 initiative, building on our legacy of supporting vital global infrastructure. Following our instrumental role in the success of the AAE-1 system, we are pleased to bring our expertise to AAE-2, an advanced, high-capacity, and geographically diverse subsea cable system connecting Asia and Europe. This next-generation network underscores our continued commitment to delivering resilient, secure, and scalable connectivity for key markets such as Hong Kong, empowering the digital growth of tomorrow.”

Enrico Bagnasco, Chief Executive Officer of Sparkle, commented:"The AAE-2 cable system is an innovative project perfectly in line with Sparkle’s long-term strategy to strengthen the Asia-Africa-Europe corridor by enhancing route diversity and ensuring the highest levels of network resilience. In recent years, we have invested in new submarine systems and established advanced landing hubs along this strategic route, reinforcing our commitment to reliable global connectivity. Among the key initiatives, the Blue & Raman submarine cable systems- linking Italy to India through an innovative path - together with the strengthening of the Sicily Hub in Palermo and the hub in Chania, as well as the creation of a brand-new scalable landing platform in Genoa. With AAE-2, we are taking a further step forward, contributing to the creation of a distinctive infrastructure that combines terrestrial and subsea solutions to deliver secure, high-capacity, and low-latency connectivity in support of the digital transformation of businesses and communities worldwide."

Sohail Qadir, Chief Executive Officer of ZOI, commented:""This collaboration marks a defining milestone for ZOI and the region we proudly serve. As the international gateway for the Middle East, we are uniquely positioned at the crossroads of Asia, Africa, and Europe, making us a strategic enabler of next-generation connectivity. AAE-2 reflects our long-term vision to connect continents and digital ecosystems through resilient and state-of-the-art infrastructure. Our cooperation brings together advanced infrastructure, diverse terrestrial routes, and AI-ready capacity. AAE-2 will strengthen global traffic flows, empower emerging markets, and unlock new avenues for economic growth across the region and beyond.”

Telecom Egypt | WE, the largest telecommunications operator in Egypt, announced today the official launch of 5G services in the country. This milestone reflects the company’s commitment to providing customers with high-quality communications services and delivering the latest technologies that meet their evolving needs amid the ongoing digital transformation in Egypt and worldwide.

The 5G technology introduced today delivers ultra-high internet speeds with extremely low latency, enabling customers to use advanced applications such as artificial intelligence, the Internet of Things, electronic gaming, and various smart solutions. It also provides more stable and efficient connectivity, particularly in high-density areas, contributing to the development of vital sectors including education, healthcare, industry, and smart transportation, and supporting the state’s efforts to build an integrated digital society.

Telecom Egypt|WE was the first operator to obtain a license to provide 5G services in Egypt, driven by its belief that this technology represents a cornerstone for the future of digital transformation and will revolutionize people's lives and communications, while also contributing to the development of business performance.

Telecom Egypt|WE announced providing Ahl Masr Burn Hospital with the first therapeutic laser device specialized in treating burn patients inEgypt, the Middle East, and Africa—the ULTRApulse® Alpha CO2.This support comes within the framework of Telecom Egypt's corporate social responsibility strategy, which places special emphasis on children's health, and as an extension of the continuous cooperation with Ahl Masr Foundation for more than ten years, during which the company has provided all forms of material and technological support. Telecom Egypt also emphasized its commitment to cooperating with major institutions to provide the latest advanced medical equipment to ensure comprehensive care for burn patients, guaranteeing them the best health outcomes and the highest levels of comfort and support.

This announcement followed a visit today by a delegation from Telecom Egypt|WE to the hospital’s headquarters inNew Cairo.The delegation includedLobna Helal, chairperson of Telecom Egypt, Eng. Mohamed Nasr, Managing Director and CEO of the company, and several board and executive members. The visit aimed to learn about the latest advanced treatment services provided by the hospital in the field of burn care, where they were briefed on the advanced medical facilities, including intensive care and emergency units, in addition to various therapeutic and surgical departments.

In this regard, Dr. Heba El-Sweedy, Founder and Chairwoman of the Board of Trustees of the Ahl Masr Foundation and Burn Hospital, extended her gratitude to Telecom Egypt |WE for providing the new therapeutic laser device—the first of its kind in Egypt and the Middle East. The device is specially designed to improve the appearance of scars, help relieve patients’ pain, and support their quick and efficient return to normal life. She pointed out that having such advanced capabilities within the hospital enhances its ability to provide the highest levels of specialized and comprehensive healthcare to patients.

The importance of this device lies in its ability to significantly shorten the treatment journey for child burn patients, as a single session with this device is equivalent to 6 to 8 sessions using conventional laser devices. This helps reduce the pain and discomfort, patients experience during the rehabilitation period. Additionally, the device enables the hospital to receive a larger number of cases and helps reduce the need for repeated exposure to local or general anesthesia, depending on the type of injury, thereby minimizing potential side effects and improving overall skin condition.

The treatment is administered over three sessions, and patients can resume their daily activities almost normally with minimal disruption. The device manufacturer also sent a specialist to train the medical staff at Ahl Masr Burn Hospital on how to operate it, given that the device is not yet available in Egypt.

It is worth noting that Telecom Egypt |WE has launched several initiatives to support burn victims in cooperation with Ahl Masr Foundation, including the“Egypt Free of Burns”initiative, which aims to raise awareness and provide training on civil protection measures against burn injuries in the most vulnerable local communities. Telecom Egypt has also sponsored the Ahl Masr Marathon, with its proceeds dedicated to building and equipping Ahl Masr Hospital, along with the telecommunications and internet services provided by the company to the hospital to enhance operational efficiency and facilitate the exchange of information among medical teams.

Khalil:"We believe that building a successful organization begins with establishing a global work culture that stimulates empowerment and excellence across our various sectors."

Nasr:"We are keen to provide a positive work environment that opens the door to innovation and excellence, ensuring sustainable growth."

In a move that reflects their shared commitment to building sustainable and inspiring work environments, Raya Holding for Financial Investments and Telecom Egypt | WE are participating as strategic partners in People Summit Egypt 2025, organized by the Top Employers Institute, the global organization that grants accreditation to leading workplaces.

In its first edition in Egypt, the event brings together a distinguished group of executive leaders and human resources experts to discuss the most prominent global trends in the work environment and to exchange best practices between institutions accredited asTop Employersand those aspiring to attain this designation.

Raya Holding and Telecom Egypt |WE’ssponsorship of this summit comes within the framework of their commitment to supporting the business community by adopting a culture of empowerment, sharing their successful human resources experiences, and contributing to developing the local work environment in line with the highest international standards.

Raya Holding has received the Top Employer Award in Egypt forthree consecutive years (2023, 2024, 2025)after successfully passing a comprehensive evaluation conducted by Top Employer Institute, covering more than 20 key areas in human capital resources management, including professional development, learning programs, work-life balance, leadership, and employees’ physical

and mental well-being. This reflects Raya Holding’s strategy that the employee experience is the foundation for sustainable and inclusive growth and its commitment to applying global standards in staff development and wellbeing. Raya Holding was selected from over 2,000 companies evaluated and certified by the Institute across 121 countries worldwide, achieving this distinction for three consecutive years and highlighting its excellence in creating a work environment that competes globally.

Telecom Egypt |WE also receivedthe Top Employer Award for 2025, for the second consecutive year, in recognition of the company’s outstanding efforts to provide an ideal work environment for employees, offering opportunities for professional growth, skill acquisition, fostering a culture of innovation and development, and enabling employees to perform their work efficiently and effectively.

WE, Egypt’s leading telecommunications operator, has announced the signing of a strategic partnership with B.TECH, a market leader inconsumer electronics retail and consumer finance services in Egypt. The partnership aims to offer a wide range of exclusive offers and services to WE customers through B.TECH’s extensive nationwide retail network.

Under this partnership, WE will collaborate with B.TECH as part ofthe WE Bonus loyalty program, enabling fixed broadband and mobile customers to redeem their points at all B.TECH stores. This step is set to strengthen the integration between digital services and retail, while also introducing additional exclusive privileges for fixed broadband customers—enhancing the overall customer experience.

The partnership reflects the commitment of bothWE and B.TECHto delivering real added value to customers by offering a fully integrated shopping experience. It provides users with enhanced access to products and services, along with innovative reward programs designed to provide customers with a wide range of benefits.

As part of the collaboration, WE customers will also gain access toB.TECH’slatest services, including Mylo, which offers flexible installment plans and a seamless purchasing experience, in addition to benefiting from TECH CARE, a suite of integrated technical support and maintenance services designed to ensure convenience and optimal device performance.

• Total revenue increased by42% YoYto reachEGP 24.8bn, led by strong growth momentum in the Retail segment, contributing57%to total revenue and driving56%of the YoY revenue growth.
• Customer base increased YoY across Mobile, Fixed Broadband, and Fixed Voice by10%, 8%, and 4%, respectively.
• EBITDA grew by49% YoY to EGP 10.9bn, reaching a robust margin of44%, up from 42%in the previous year.
• Income from VFE increased by3.6x YoYto reachEGP 3.2bn.
• Normalized net profit reachedEGP 5.2bn, reflecting a 39% YoY increase and a21%net profit margin.
• In service, CapEx reportedEGP 2.3bn (9% of sales), while Cash CapEx reportedEGP 6.8bn (27% of sales).
• Net debt/EBITDA (annualized) improved to1.6xcompared to2.2xin Q4 2024.
• FCFF (excluding EGP 0.2bn for licenses) amounted toEGP 3.8bn, implying a FCFF/EBITDA ratio of35%.

We started the year with total revenue rising42% YoY to EGP 25 billion, driven by robust performances across both our Retail and Wholesale segments. EBITDA grew by49% YoY, achieving a robust margin of44%, as our operational efficiency enabled us to outpace inflationary cost pressures.

In the Retail segment, revenue increased by40% YoY, led by a45% growthin the Home & Consumer business unit following the30% priceadjustment in December 2024. Wholesale revenue rose44% YoY, supported by exceptional growth in the Domestic and ICA business units, which expanded by56% and 64% YoY, respectively. As Egypt’s largest telecom infrastructure provider and a key regional player in the global connectivity landscape, we are now reaping the rewards of a decade of responsible, strategic investments. These efforts have uniquely positioned us to unlock the value of our extensive assets and capitalize on the accelerating demand for connectivity—both locally and globally. This is clearly reflected in our strong growth momentum and the continued trust of our local and international partners.

Adjusting forEGP 0.7bnin FX loss inQ1 2025 and EGP 0.2bnFX gain in Q1 2024, normalized net profit grew39% YoY to EGP 5.2 billion, recording a net profit margin of 21%. This growth was driven by strong operational performance and a3.6x increasein income from VFE YoY, offsetting a 73% rise in interest expense. Cash CapEx declined55% YoY, in line with our strategy to optimize spending while maintaining operational excellence and securing future growth. Our disciplined financial approach has driven strong cash flow generation, with FCFF, excludingEGP 0.2bnin licenses, reachingEGP 3.8bn, implying an FCFF/EBITDA of 35%. This performance aligns with our quarterly budget and keeps us well on track to achieve our full-year targets, highlighting our ability to allocate resources efficiently and strengthen our financial position.

In a dynamic, capital-intensive industry that demands continuous investment and innovation to secure long-term growth, we remain focused on optimizing our capital structure, enhancing profitability, and strengthening cash flow generation. Guided by a clear strategic vision that aligns with the Sustainable Development Goals and integrates leading ESG practices, and reinforced by strong partnerships and a highly committed team, we are well-positioned to deliver long-term, sustainable value to our stakeholders. Our commitment to operational efficiency and financial resilience gives us confidence in maintaining this positive momentum and unlocking further growth in the quarters ahead.”

Telecom Egypt today announced changes to its Board of Directors, appointingLobna Helal as Chair of the Board.She succeedsDr. Magued Osman, who stepped down after a nine-year tenure, having served as Chair since 2016. Helal, an independent board member since March 2019, isthe first woman to lead Telecom Egypt’s Board, marking a significant milestone in the company’s history.

The Board has also re-appointedMohamed Nasr as Managing Director and CEO for a second term, ensuring continuity in leadership and execution of the company’s strategic goals. The changes were approved during the Board meeting held today and are effective immediately.

About Lobna Helal

Lobna Helal was appointed to Telecom Egypt’s board as an independent member in March 2019. Ms. Lobna Helal has over 30 years of experience in the banking sector. She most recently served as Deputy Governor of the Central Bank ofEgypt (CBE) for Monetary Stability Policies, serving two terms: from2011 to 2013 and from 2015 to 2019.She wasthe first womanto hold this position in the history of the CBE, overseeing key sectors including monetary policy, reserve management, markets, external relations, research, banking operations, information technology, payment systems, and banking sector reform.

She was responsible for designing, implementing, and developing a comprehensive monetary and economic reform program that spanned three years and concluded successfully inJune 2019. The program featured adjustments to fiscal and monetary policies alongside structural reforms to place the Egyptian economy on a sustainable path. Its core achievements included liberalizing the foreign exchange system and transitioning to an inflation-targeting regime by modernizing the CBE’s monetary policy framework.

Since joiningthe Central Bank in 2004, Ms. Helal prepared and executed a two-phase program from2004 to 2011to develop and restructure the banking sector. This program protected the Egyptian banking sector and economy from the adverse effects of the 2008 global financial crisis.

In addition to representing theCBEin numerous institutions as Deputy Governor, Ms. Helal served as an independent expert and non-executive Chair of the Credit Risk Guarantee Company. She also served as an expert and non-executive board member of the Nasser Social Bank, the National Investment Bank, the Mortgage Finance Support Fund, and the Social Housing Fund, as well asnon-executive Chair of the Egyptian Mortgage Refinance Company.

Ms. Helal currently holds several positions including non-executive Chair of City Edge Developments, board member ofthe National Bank of Egypt (London), board member of Egypt's Sovereign Wealth Fund, expert member of the Social Housing Fund's board, independent board member of Alex Bank, Chair of the Board of Trustees of the Innovation for Sustainable Development Foundation, and board member of El-Nidaa Foundation.

Ms. Helal representedthe CBE as Vice Chair of the Board of Directors of the Financial Inclusion Alliance (AFI)andVice Chair of the Gender and Women’s Financial Inclusion Committee.

Before her role at the Central Bank, Ms. Helal served asCEO of the Hermes Financial Group, overseeing mergers and acquisitions and fixed-income instruments.

She was named the second most powerful woman inForbes Magazine’s 100 Most Powerful Womenin the Middle East and North Africa Region for the years 2016 and 2018. The magazine also named her the third most influential woman in the region's public sector in 2018.

Ms. Helal holds a Master's degree in Economics from the American University in Cairo.

WE, Egypt's leading national ICT services provider, announced the signing of a Memorandum of Understanding to build a strategic partnership withCommercial International Bank (CIB), Egypt's largest private sector bank, to deliver an innovative model to expand WE customers' access to financial services across Egypt.

Under this partnership, CIB will develop financial products and services tailored specifically for WE customers, utilizing the latest and most appropriate digital models and programs within the Banking-as-a-Service model. This partnership will also leverage WE's extensive geographic reach, wide distribution channels, and services provided to millions of customers, creating added value for both institutions and contributing to financial literacy, the integration of the informal economy, limiting the banknote circulation, and thus greater financial inclusion.

This initiative aligns with Egypt's digital transformation goals, promoting financial inclusion by integrating banking services into the WE digital ecosystem. This collaboration reflects CIB's commitment to innovation and customer-centric banking, ensuring financial services are available anytime, anywhere.

By combining efforts, WE and CIB are setting a new standard for cooperation between the banking and ICT sectors, paving the way for a more connected and financially inclusive future.

TTelecom Egypt and the National Telecommunications Regulatory AuthorityNTRAcelebrated the graduation of students from the WE Innovate Academy and Camp"WE INNOVATE", which was launched within the state's interest in building human capabilities and qualifying young people. As one of the most important items of the National Cybersecurity Strategy launched by the Supreme Council for Cybersecurity, headed by His Excellency Dr. Amr Talaat, Minister of Communications and Information Technology, the celebration was held at the headquarters of Telecom Egypt in Smart Village, on February 6, in the presence ofEng. Mohamed Nasr, Managing Director and CEO of Telecom Egypt, andEng. Walid Zakaria, Supervisor of the Cybersecurity department, representing the National Telecommunications Regulatory Authority.

The "WE Innovate" Academy and Camp was launched through a strategic cooperation protocol between Telecom Egypt and the National Telecommunications Regulatory Authority, and hosted by the Information Technology Institute, to build the capabilities of promising youth in the field of cybersecurity, within the framework of the"Cyber Skills"initiative to train a thousand trainees, including students and recent graduates.

Over the past two years, the initiative has provided intensive training paths for a large number of trainees through specialized training tracks. Two training courses were offered in 2023, benefiting 200 trainees across three specialized training tracks. In 2024, the initiative's activities were expanded by offering two additional courses, covering 225 trainees, and increasing the number of tracks to include five different fields. furthermore, a bootcamp was hosted where 200 trainees were trained in four tracks in cybersecurity, allowing the Egyptian university students to gain practical experience in this vital field; in addition to developing cybersecurity content through the "Mahara Tech" platform, to expand access for learners and enrich the content in this important specialized field.

The WE Innovate initiative reflects Telecom Egypt's continued commitment to fostering cybersecurity in Egypt, as a vital element in promoting digital transformation and protecting the digital future. Accordingly, the initiative is based on three main axes: capacity building, innovation promotion, and business accelerators. The WE Innovate Hackathon was organized twice, attracting more than 2,400 participants who competed to create innovative cyber solutions, in which 10 teams won, while five qualified for regional competitions. Two of the five teams won first and third place in the 2024 Arab Cybersecurity Challenge.

At the level of business accelerators and startup support, the initiative supported three winning startups in 2023. Last year, two companies graduated from the program, while three new companies were incubated. The international recognition and creativity of the WE Innovate graduates are demonstrated through a winning startup of the Super Nova Africa Award at GITEX Dubai 2024.

Ookla, the global leader in internet speed testing, awarded WE the title of“Fastest Mobile Network in Egypt"and"Fastest Terrestrial Internet in North Africa", in a ceremony held by the company on the sidelines of the MWC 2025 in Barcelona from March 3 to 6. The two awards were received by Eng. Mohamed Nasr, Managing Director and CEO of Telecom Egypt.

Ookla's awards are based on rigorous analysis of user-initiated tests via the speedtest app, the world's leading testing platform. WE's recognition confirms Telecom Egypt's dedication to improving the customer experience through ongoing infrastructure investment and modernization. By leveraging the latest global advancements in telecommunications and IT, the company delivers the highest service quality, meeting the growing data and digital needs of Egyptian consumers and businesses.

WE announced the signing of a cooperation protocol withmajor civil society organizations (NGOs)in Egypt to launch its largest initiative to distribute one million food cartons during the holy month of Ramadan nationwide. The company signed cooperation protocols withthe Egyptian Food Bank, Misr El Kheir Foundation, and Sonaa Elkhair Foundation, intending to celebrate the holy month with the Egyptians, and emphasizing the company's societal role and its keenness to spread the values of cooperation and solidarity among members of society.

WE seeks to benefit the largest number of beneficiaries across the country by cooperating with major civil society organizations that have extensive experience in community work, utilizing their accurate databases to reach remote villages and hamlets, distributing food cartons to residents, sharing the joy of the holy month with them, and contributing to lessening the economic burdens imposed by current global circumstances.

The initiative aims to distribute one million cartons of food, a significant increase over last year, with a focus on some groups, most notably unemployed women, the elderly who are unable to work, families that include people with disabilities who need additional support, and children in orphanages affiliated with the Ministry of Social Solidarity. It is also keen to reach villages, hamlets, and neighborhoods that are difficult to reach, as well as border areas such as Halaib, Shalateen, and North Sinai, South Sinai, Marsa Matrouh, Al Wahat, the Red Sea, the New Valley, and the governorates of southern Upper Egypt.

Mustafa Zamzam, Chairman of the Board of Trustees of Sonaa Alkhair Foundation, member of the Board of Trustees of the National Alliance, and ambassador of the Presidential Initiative for a Decent Life, explained thatSonaa Alkhair’s cooperation with "WE"continues to provide support to many Egyptian families in the various governorates of Egypt, Through cooperation with the foundation, WE succeeded in delivering many distinguished services to people in all governorates/ villages and hamlets. ” Foundation's work teams and volunteers will begin distributing aid, racing against time to deliver it to the most needy families during the holy month.

• Total revenue increased by45% YoY, driven primarily by a48% YoYincrease in Data revenue, contributing41%to the overall growth, followed by a68%surge in International Direct Dialing (IDD) revenue and a21% YoYrise in Domestic Infrastructure Services revenue.
• Customer base: Mobile+13%, Fixed Broadband+8%, Fixed Voice+6%YoY.respectively
• EBITDA witnessed a45% YoYincrease, recording a40%margin.
• Normalized net profit(excluding EGP 4.9bnFX losses andEGP 0.6bnearly retirement compensation) reachedEGP 14.3bn, marking a strong22% YoYincrease. This growth was driven by robust operational performance and a64% risein VFE income, offsetting the impact of a 48% increase in D&A and a1.5x risein interest expenses caused by the EGP devaluation.
• In-service CapEx reportedEGP 19.8bn (24% of sales), while Cash CapEx reportedEGP 35.1bn (43% of sales).
• Net debt/EBITDA recorded 2.2x compared to1.7x in FY 2023, given the64% upsidein gross debt due to the revaluation of foreign-currency-denominated debt.
• FCFF, excluding the mobile license fees of c.EGP 6bn, reachedEGP 4.4bn.

We successfully closed the year with remarkable growth, with total revenue increasing by 45% YoY to reach EGP 82 billion. EBITDA grew by45% YoY, maintaining a strong margin of40%. This performance reflects robust top-line growth and disciplined cost-optimization efforts, enabling us to achieve our target margins despite persistent inflationary pressures. However, we are now witnessing signs of cost-based stabilization. This reflects the recent easing of inflationary pressures and a shift to a new, more predictable cost structure, providing greater clarity for future planning.

Organically, our core business segments performed exceptionally well. The Retail segment recorded42% YoYgrowth, driven by an expanding customer base and the successful implementation of price adjustments earlier in the year and again in December. Data revenue remained the primary growth driver for this segment, expanding by48% YoY, fueled by the rapid adoption of bandwidth-intensive applications, increased smartphone penetration, and the growing shift toward cloud-based services. The proliferation of video streaming, online gaming, and IoT-enabled solutions has amplified demand for high-speed, low-latency connectivity, reinforcing our network’s critical role in supporting Egypt’s evolving digital ecosystem.

The Wholesale segment delivered a strong48% YoYgrowth, mainly driven by the growth in International Calls, Domestic Infrastructure Services, and Capacity Sales, contributing 16%, 6%, and 5% to total revenue growth, respectively. Telecom Egypt remains a key global connectivity hub, leveraging its extensive submarine cable infrastructure and strategic geographic position. Throughout the year, we signed multiple agreements to monetize assets, expand subsea capacity, and support rising global data traffic. These efforts strengthen our role in enabling international connectivity while capitalizing on increasing demand from cloud providers, content platforms, and global carriers. Net profit stood atEGP 10.1 billion, marking a14% YoYdecline, primarily due to theEGP 4.9 billionin non-recurring FX losses andEGP 0.6 billionin early retirement compensation.

Excluding these one-offs, normalized net profit reachesEGP 14.3 billion, reflecting a22% YoY increaseand a17% margin. Excluding the mobile license fees, FCFF recorded EGP 4.4bn, delivering on our target to achieve a positive free cash flow to firm by year-end, and reflecting the company’s strong cash flow generation capabilities. We recognize that the volatile macroeconomic environment over the past two years has presented significant challenges to our profitability and cash flow. Nevertheless, our business fundamentals remain strong, and we have taken proactive measures to optimize our capital structure, enhance profitability, and improve cash flow. These efforts reflect our unwavering commitment to addressing the concerns of our shareholders and investors while strengthening our long-term financial position.

The strong foundations we established in 2024 position us for sustainable growth in the years ahead. We expect to deliver robust financial results in 2025, supported by a strengthened financial position, disciplined capital allocation, and robust operational performance, driven by our vast fixed fiber network and our best-in-the-market mobile network, enabling us to deliver premium, fully-integrated services to our customers. Reflecting our confidence in the company’s solid performance and our commitment to delivering shareholder value, the Board of Directors has proposed a dividend ofEGP 1.50 per share for 2024, subject to the general assembly’s approval.”

WE, the leading provider of communications and information technology services in Egypt, announced its cooperation withVezeeta, the leading digital platform in the field of healthcare in the Middle East and Africa, to provide a unique added value toWE GOLD customers, allowing them easier and better access to high-quality healthcare services at great discounts.

This step derives from the company’s strategy to achieve the customer's interest and provide a distinctive experience for them. It is not limited to superior communications services, but extends beyond that to achieve added value that contributes to enhancing the customers’ quality of life. Through this cooperation, WE GOLD customers will be able to use many health benefits during the" Shamel" program, which is the latest version of Vezeeta, offering discounts on all healthcare services in a fully digital experience.

Under this collaboration, WE offers WE GOLD customers an annual subscription in " Shamel", which gives them discounts on all healthcare services through a network of more than8,000 serviceproviders, including analysis and radiology services, surgeries, doctor consultations, and pharmacy supplies, in addition to optional healthcare services such as dentistry, plastic surgeries, and physical therapy without prior approvals.

Telecom Egypt is pleased to announce it has signed several landmark service agreements withOrange Egypt, aimed at enhancing strategic cooperation between the two companies. These agreements will enable Orange Egypt to enhance its technological services and better meet the needs of its customers. This collaboration highlights the rise in technological investments in the Egyptian market, the priority placed on strengthening digital infrastructure, and the continued expansion of advanced service offerings.

The agreements were signed by Mohamed Nasr, Managing Director and CEO of Telecom Egypt, and Yasser Shaker, Managing Director and CEO of Orange Egypt, in the presence of H.E. Dr. Amr Talaat, Minister of Communications and Information Technology, and Mohamed Shamroukh, CEO of the National Telecom Regulatory Authority (NTRA).

These agreements have a total combined value of approximately EGP 15 billion, which will be disbursed over their duration. They also include an extension of transmission services for an additional three years, lasting until 2032. Additionally, they include a new contract to provide fiber-to-the-site (FTTS) services to Orange's mobile sites over three years.

The two companies also signed a Service Level Agreement (SLA) aimed at strengthening Orange’s position as a leading provider of high-speed mobile internet and telecommunications services. These agreements will also support Orange Egypt’s preparations for the rollout of its 5G services. Additionally, the agreements include amendments to the existing fixed internet services agreement, which focus on improving the cost-efficiency of services in the telecommunications market. This will enable Orange Egypt to offer customers better deals and pricing through more efficient commercial models, allowing the delivery of higher-tier packages to end-users at more competitive rates.

The longstanding partnership between the two companies has created a strong foundation for exceptional business relations within the Egyptian market, driving its growth and delivering optimal benefits for all parties involved.

Telecom Egypt, the total telecom operator in Egypt and one of the largest subsea cable operators in the region, today announced the activation of a Mediterranean subsea link on the 2Africa subsea cable system. The project is in collaboration with Cisco, the worldwide leader in networking and security technologies. Using Cisco's cutting-edge Network Convergence System (NCS), the link creates a high-capacity connection between Port Said, Egypt, and Marseille, France via Genoa, Italy.

The exponential growth of capacity-intensive applications such as cloud and AI services in the region is fueling the demand for expanded subsea network capacity, which requires advanced coherent transmission systems of high performance. This project enables Telecom Egypt to maximize the potential of its subsea assets on the 2Africa subsea cable, enhancing the efficiency of its cable operations and boosting international traffic capacity.

Enabled by Cisco's cutting-edge NCS, the system offers data transmission powered by Acacia’s multi-haul coherent module, delivering high performance with less power per bit. It allows network operators to enhance capacity across any cable, enabling precise adjustments to optical transmission signal bandwidth, modulation format, and spectral efficiency.

At45,000 kilometerslong, 2Africa is one of the world’s largest subsea cable systems, interconnecting Europe (eastward via Egypt), Asia, and Africa.

Gordon Thomson, Vice President, EMEA Service Provider at Cisco, commented:“In the AI era, reliable and fast network connections are more critical than ever. Our collaboration with Telecom Egypt on the 2Africa cable exemplifies the potential for enhancing network capacity over very long distances. We’re proud to lead the way in supporting the growing demand for robust, high-capacity networks by providing cutting-edge technology that enables Telecom Egypt to optimize its capacity on the 2Africa cable.”

Telecom Egypt was honored with the prestigious‘Best Investor Relations - Telecom Company’ awardat the International Finance Awards 2024 ceremony, held at the Jumeirah Emirates Towers in Dubai. This distinguished recognition underscores Telecom Egypt’s unwavering commitment to excellence in corporate governance, transparency, and its proactive efforts in engaging with shareholders, investors, and the wider financial community.

The International Finance Awards, now in their 12th year, celebrate organizations that stand out through leadership, innovation, and an unrelenting commitment to best practices. This year’s ceremony brought together industry leaders, innovators, and influential stakeholders from across the globe, providing a platform to honor outstanding achievements in various sectors.

Since its inception in 2013, the International Finance Awards have grown to become a globally recognized benchmark for excellence, highlighting companies that set the standard for leadership, innovation, and performance in their respective industries. The awards process involves a rigorous two-tier evaluation: an initial review by the Internal Evaluation Team at International Finance Magazine, followed by a thorough assessment by an External Evaluation Agency. Nominations are carefully considered based on criteria such as past performance, growth, strategic achievements, innovation, communication practices, and client testimonials

China Mobile International (CMI) and Telecom Egypt announced a strategic commercial agreement signed by Mr. Wang Hua (Chairman & CEO – CMI) and Mr. Mohamed Nasr (MD & CEO – Telecom Egypt). The partnership covers subsea cable infrastructure resource sharing and enterprise-grade digital services (DICT solutions) for Egypt and the region.

This strategic agreement marks the deepening of the relationship between CMI, a wholly owned subsidiary of China Mobile—renowned for operating the world’s largest network, serving the largest customer base, and leading in profitability, brand value, and market rankings—and Telecom Egypt, the total telecom services provider in Egypt and one of the largest subsea cables operators in the region.

A key element of this partnership is the international infrastructure commercial agreement, which centers on expanding the global reach of both companies, reinforcing their shared commitment to delivering high-quality, uninterrupted services in an increasingly interconnected world. This transaction strengthens the diversity and resilience of both companies' networks by providing additional routes across segments of their respective cable systems, delivering more reliable connectivity services. As such, the collaboration unlocks additional value and reflects a cost-effective approach, underscoring their devotion to developing robust network infrastructure worldwide.

Furthermore, by combiningCMI'sadvanced digital solutions with Telecom Egypt's robust nationwide infrastructure, extensive market expertise, and widespread regional reach, both organizations will explore customizedDICT (Digital, Information, Communication, and Technology)solutions to advance smart services for enterprises, aiming to empower businesses with scalable solutions that drive digital transformation and reinforce their positions as leaders in the enterprise services market.

CMI and Telecom Egyptwill continue to leverage their resources and expertise to boost services for global enterprises and consumers and accelerate digital economy development, creating greater economic benefits and societal value.

Telecom Egypt's Board of Directors approved the2025 budgetwith the following KPI guidance:

Telecom Egypt| WE announced today the official launch of its eSIM services, following approval from the National Telecommunications Regulatory Authority(NTRA). This reflects Telecom Egypt’s commitment to providing its customers with the latest global communications and information technology innovations, as well as expanding its portfolio of advanced services that meet customers’ needs. This comes in line with the company’s customer-centric strategy, which supports Egypt’s plans for sustainable development and digital transformation.

The eSIMis an ideal alternative to the traditional SIM card, enabling customers to switch between different mobile networks without the need to use multiple physical SIM cards. It allows users to store information for multiple SIMS and move between them easily, while also eliminating the risk of damage or loss associated with physical SIM cards.

Telecom Egypt, Egypt’s market-leading telecom operator, has been awarded the Tier III Design Certification for itsRegional Data Hub 2 (RDH 2)data center. This prestigious certification was granted after a comprehensive assessment and evaluation by expert teams from Uptime Institute, a world leader in the standardization of digital infrastructure performance.

Building on the success ofRDH 1, which reached full utilization in just one year and earned multiple Tier III Uptime Institute certifications, the certification ofRDH 2 reaffirms Telecom Egypt’scommitment to maintaining high data center standards. The design certificate ensures that RDH 2, like RDH 1, meets the rigorous mechanical, electrical, structural, and site criteria, confirming that the facility’s capacity and functionality align with its engineering and architectural plans.

With an estimated IT load of4.6MW for RDH 2—compared to 2.5MWforRDH 1— RDH 2represents a significant expansion to meet the growing market demand for secure and resilient Tier III data center services. This expansion also enhances Telecom Egypt’s IT infrastructure, offering greater scalability and ensuring business continuity, particularly for businesses transitioning to the cloud.

It is worth noting that Telecom Egypt is also registered for the Leadership in Energy and Environmental Design (LEED) program for RDH 2, reinforcing its commitment to energy-efficient and sustainable data center development. LEED, a globally recognized standard, evaluates buildings across key areas such as energy, water, waste, transportation, and user experience. This initiative highlights Telecom Egypt's dedication to reducing its environmental footprint through resource optimization and carbon emission reduction.

By integrating sustainable design and resource-efficient practices, Telecom Egypt is not only advancing its sustainability goals but also ensuring operational excellence. These efforts reflect the company's broader commitment to environmental responsibility and long-term growth, aimed at minimizing the impact of development on local, regional, and global ecosystems.

The execution ofRDH 2is expected to be completed by the end of 2025. Once operational,RDH 2will further strengthen Telecom Egypt’s leadership in the region’s data center market by leveraging the 13 submarine cable systems currently landing on Egypt’s eastern coast, with plans to expand this number to18by 2025. This expansion will also reinforce Egypt’s strategic role as a global connectivity hub, providing cutting-edge infrastructure and unmatched industry reliability.

• Total revenue increased by39%YoY to reach EGP58.4bn, driven by a46%YoY increase in Data revenues, accounting for45%of total revenue growth, thanks to the growing customer base and the price adjustments effected at the beginning of the year, followed by a61%YoY hike in International Direct Dialing (IDD) revenues and a90%YoY surge in Capacity Sales.
• Customer base increased YoY across Mobile, Fixed Broadband, and Fixed Voice by9%,8%, and4%, respectively.
• EBITDA witnessed a34%YoY increase, reaching EGP23.5bnwith a margin of40%, in line with our targeted levels.
• Net profit declined by6%YoY to EGP8.6bn, with a net profit margin of15%.
• In-service CapEx reported EGP12.8bn(22%of sales), while Cash CapEx reported EGP30.1bn(52%of sales).
• Net debt/EBITDA scored2.3xin9M 2024vs1.7xinFY 2023, mainly on currency depreciation.
• FCFF enhanced during9M 2024compared toH1 2024, recording EGP-5.9bnand EGP48mnwhen we exclude the license fees.

Building on their long-standing strategic partnership, Telecom Egypt and Vodafone Egypt have signed several landmark service agreements for infrastructure services. These agreements aim to developVodafone Egypt’snetworks and support its preparations for the rollout of 5G services. The combined total value of these commercial agreements amounts to around EGP 30 billion, to be disbursed over the duration of the agreements, which have varying maturities up to 2034.

These agreements align with Telecom Egypt's strategic plan to monetize its advanced network, which serves as the foundation for delivering5G services. This further solidifies the company’s role as the nation’s leading telecommunications infrastructure developer and reinforces its position as the top provider of infrastructure, connectivity, and wholesale services to all the other operators in the market, in line with Egypt’s Vision 2030 for digital transformation. The agreements enable Vodafone Egypt, Telecom Egypt’s largest operator client and the owner of the largest mobile market share in Egypt, to leverage Telecom Egypt’s integrated infrastructure and fiber optic network to deliver exceptional services to its customers. Additionally, they also allow Vodafone Egypt to leverage its extensive global expertise in deploying 5G technologies, which it has implemented in over 34 countries worldwide.

The partnership includes extending Telecom Egypt's transmission services agreement with Vodafone Egypt until 2031, securing Vodafone Egypt's current and future expansion. It also includes a four-year agreement for fiber connectivity to Vodafone Egypt's mobile sites. In addition, several other agreements have been signed for virtual fixed voice and internet services, enabling Vodafone Egypt to expand its integrated portfolio of communications services in the Egyptian market and benefit from a range of distinctive value-added services and competitive business offerings.

The agreements were signed byMohamed Nasr, Managing Director and CHIEF EXECUTIVE OFFICER of Telecom Egypt, andMohamed Abdallah, Managing Director and CHIEF EXECUTIVE OFFICER of Vodafone Egypt, in the presence of H.E. Dr. Amr Talaat, Minister of Communications and Information Technology, along with several senior executives from both companies.

Telecom Egypt, the total telecom operator in Egypt and one of the largest subsea cables operators in the region, and Alcatel Submarine Networks (ASN) have announced the successful landing of the Africa-1 subsea cable system in Egypt at the Ras Ghareb cable landing station on the Red Sea. This is the first of two planned landings in Egypt - the second Egypt landing will be on its Mediterranean coast. Built and deployed byASN, the system linksEast Africa with the Middle East, South-Central Asia, and Europe.

Traversing Egypt via diverse terrestrial routes, this low-latency, high-capacity, direct express system extends from Pakistan to France, with initial landings in the United Arab Emirates, Kenya, Djibouti, Yemen, Sudan, Saudi Arabia, Egypt, and Algeria. The Ras Ghareb landing is the third, following earlier landings in Karachi, Pakistan, and Mombasa, Kenya.

The consortium-funded system, stretching over10,000 kilometerswith 8 fiber pairs, aims to enhance global connectivity by providing diversity and resiliency while significantly bolstering broadband traffic capacity. The Africa-1 consortium comprises eight major players: Algerie Telecom, e&, G42, Mobily, Pakistan Telecommunications Company Ltd., Telecom Egypt, TeleYemen, and ZOI

Mobily, a leading Technology, Media, and Telecom (TMT) company in the Kingdom of Saudi Arabia, and Telecom Egypt, the total telecom operator in Egypt and one of the largest subsea cables’ operators in the region, have signed a cooperation agreement to land the first Saudi submarine cable linking Saudi Arabia and Egypt. The new cable, which is wholly owned by Mobily, will pass through the Red Sea, connecting Saudi Arabia and Egypt and opening the way for expansion and access to Europe through various connectivity options.

The new subsea cable expands the company's network of subsea cable systems and extensive international infrastructure to provide more reliable connectivity, handle increasing telecom traffic, and meet the growing demand for internet services locally and internationally.

The new cable will land at two cable landing stations along the Red Sea: Sharm El Sheikh in Egypt and Duba in Saudi Arabia. This cable will enable Mobily to connect the Arabian Gulf and Saudi Arabia’s neighboring countries to the Egyptian landing station in the Red Sea through Mobily’s digital corridors. Additionally, the cable will provide connections to various subsea cable systems landing in Egypt.

This agreement is part of Mobily's strategy to expand its extensive infrastructure and network. The new cable builds on the company's previous investments in subsea cables, which link it to various regions around the world, further enhancing Mobily's international capacity.

Telecom Egypt is pleased to announce the successful signing of anEGP 18bnsyndicated loan facility, a crucial step in rebalancing the company’s cash flow and enhancing its financial flexibility.

The syndicate consists of 13 banks, led byCommercial International Bank – Egypt (CIB)and Banque Misr as Initial Mandated Lead Arrangers and Bookrunners, along with the National Bank of Egypt as Mandated Lead Arranger and Bookrunner

Telecom Egypt will use thisnew seven-yearsyndicated facility to refinance its existing short-term EGP facilities. The refinancing comes at a strategic juncture, aligning with Telecom Egypt’s ongoing efforts to improve its cash flow, ensure adequate liquidity, and enhance financial flexibility as the company executes its long-term growth plans.

This facility also underscores Telecom Egypt’s commitment to prudent financial management and reinforces its ability to navigate challenging market conditions while reducing associated risks and ensuring sustainable growth.

The champions of the"WE INNOVATE" initiativesucceeded in securing first and third places in the Arab Cybersecurity Challenge held on the sidelines ofGITEX North Star, competing against11 Arab teams. This achievement reflects the outstanding excellence of Egyptian youth in the field of cybersecurity.

The two winning teams had participated as part of six teams representing the Egyptian pavilion atGITEX North Star, supported by the "WE INNOVATE" initiative. This underscores the initiative’s strong commitment to enhancing cybersecurity capabilities in the Arab region and its continuous efforts to develop innovative solutions capable of addressing increasing cyber threats. The participating teams and companies received strategic support fromTelecom Egypt and the National Computer Emergency Readiness Team (EG-CERT), ensuring their presence at this premier event and providing them with opportunities to attract international investments and expand their operations.

The WE INNOVATE initiative serves as a vital platform for supporting startups in the field of cybersecurity, offering them the chance to showcase their solutions and products to global investors and industry leaders while exploring new horizons. This fosters technological innovation, strengthens Egypt’s position as a regional and global leader in technology and cybersecurity, and reinforces its role as a pioneering hub in this field.

The participation ofWE INNOVATE in GITEX Dubaithis year underscores Egypt’s ongoing commitment to developing the cybersecurity sector and supporting digital innovation. By empowering startups and providing platforms for competition among innovators, the initiative also enhances Egypt’s position as a regional and global leader in technology and cybersecurity. It is noteworthy that the WE INNOVATE initiative was launched through a cooperation protocol betweenTelecom Egypt and NTRA. via EG-CERT, marking the first collaboration of its kind undertaken by Telecom Egypt.

H1 2024 key highlights

• Consolidated revenue grew35%YoY, recording EGP38.0bn. This growth was fueled by a46%YoY hike in Data revenue across the Retail segment, constituting48%of top-line growth, followed by International Direct Dialing (IDD) and Capacity Sales revenues growing by51%and103%, respectively.
• Customer base grew across all segments. Fixed Voice and Fixed Broadband subscribers both grew by8%YoY, while Mobile subscribers increased by4%YoY.
• EBITDA reached EGP15.5bn, increasing29%YoY and recording a margin of41%. The enhanced revenue mix, along with cost optimization efforts, maintained the EBITDA margin at targeted levels despite the prevailing inflationary pressures.
• Net profit landed at EGP6.5bn, almost flat YoY, with an implied margin of17%. The solid operational growth and the substantial52%YoY growth in VFE’s income, supported by the recent price ups, managed to neutralize the pressure of a2.6xhigher interest expense YoY and the EGP0.5bnFX losses due to the currency devaluation.
• In-service CapEx recorded EGP8.0bn(representing21%of sales), while Cash CapEx reached EGP27.4bn, representing around80%of total Cash CapEx budgeted for FY2024. It is worth noting that the hike witnessed in Cash CapEx was partially caused by foreign currency appreciation, and vendor financing payments, which amounted to EGP7.5bnin H12024, representing68%of the EGP10.9bnto be paid throughout FY2024.
• Net debt/EBITDA marked2.4xin H12024vs1.7xin FY2023, mainly on the currency depreciation.
• FCFF recorded EGP-10.4bn, pressured by the vendor financing payments of EGP7.5bnin H12024(68%of the budgeted payments throughout FY2024), in addition to the EGP6.4bnrelated to the license. It is worth highlighting that FCFF stands at EGP-958mnwhen we exclude the license fees and account for the EGP3.1bn(net of tax) dividends received from VFE in July2024.

Telecom Egypt, Egypt’s market-leading telecom operator, announces that it has signed a multi-year agreement withMada Communications (Mada®), a leading telecoms solutions provider, to be its preferred strategic international SMS service provider.

After a rigorous selection process, Telecom Egypt has proudly selected Mada® as its strategic partner. This decision was driven byMada®'sextensive expertise, solid partnerships with both local and international institutions, and robust security and protection measures. Additionally, Mada®'s exceptional platform adaptability and seamless compatibility with Telecom Egypt’s existing systems were pivotal factors in this selection.

Mada®will spearhead the management for all International Application-to-Person (A2P) messaging services, including but not limited to functionalities such as two-factor authentication and automated notifications. The partnership enables Telecom Egypt to leverage Mada®’s capabilities in order to deliver a superior experience to its growing customer base while simultaneously maximizing A2P messaging revenues.

Telecom Egypt|WE, the leading company in communications and information technology services in Egypt, has signed a cooperation agreement with Elsewedy Industrial Development to provide integrated communications services and smart city solutions in Sokhna City 360, located in the Suez Canal Economic Zone. The agreement was signed byEng. Mohamed Nasr, Managing Director and CEO of Telecom Egypt, and Eng. Mohamed El Qamah, CEO of Elsewedy Electric for Infrastructure Investments, in the presence of Eng. Ahmed Elsewedy, CEO and Managing Director of Elsewedy Electric.

Under this agreement, Telecom Egypt| WE will implement the technological infrastructure for Sokhna City 360, extend the fiber-optic network required to provide high-speed internet, deliver smart city services, and supply all integrated communications services for the project. The company will also establish telecommunications towers and mobile signal-boosting stations, and implement a smart nodes network within the project.

Telecom Egypt|We launched its new advertising campaign for the summer of 2024,"Agmad Men Ay Had”, which offers its customers some of the strongest packages that meet their evolving needs and ensure they enjoy a special summer through a wide range of attractive offers that enable them to stay connected with relatives and friends throughout the season. The company also shared on its official platforms a promotional advertisement starring artists Tamer Hosni and Bahaa Sultan in a distinctive duet titled“Me’alemeen,”with the participation of actors Caroline Azmy and Darren Haddad.

Through its advertising campaign, which carries the slogan"Agmad Men Ay Had”, Telecom Egypt is offering large prizes and exceptional offers, the strongest of summer 2024. All prepaid and invoiced customers will have the opportunity to win50 gold bars. Two of the company’s customers will win the grand prizes, with each receiving a half-kilogram gold bar. Weekly draws will be held for the gold bars, while the winners of the grand prizes will be announced at the end of the summer season.

The offers also include prepaid customers receiving100 timesthe recharge amount, along with a chance to win gold bars. WE Gold customers will receive double their internet package, while current Control and Nitro package customers will receive a 50% increase in their package value, and new customers will receive double their package. Additionally, WE is offering current fixed-line internet customers200 GBfor free when upgrading to higher packages. The company is also giving WE Pay e-wallet customers a chance to win cash prizes totalingEGP 2 millionwhen they conduct financial transactions during the“Hour of Luck.”

The participation ofWE INNOVATE in GITEX Dubaithis year underscores Egypt’s ongoing commitment to developing the cybersecurity sector and supporting digital innovation. By empowering startups and providing platforms for competition among innovators, the initiative also enhances Egypt’s position as a regional and global leader in technology and cybersecurity. It is noteworthy that the WE INNOVATE initiative was launched through a cooperation protocol betweenTelecom Egypt and NTRA. via EG-CERT, marking the first collaboration of its kind undertaken by Telecom Egypt.

Telecom Egypt, Egypt’s market-leading telecom operator, today announced a new partnership withNokiato bring5G technologyto Egypt for the first time. The collaboration aims to revolutionize the country's telecom landscape by introducing the transformative power of 5G to cities such as Alexandria, Giza, Luxor, and Aswan. Nokia will provide its comprehensive AirScale portfolio to deliver an exceptional network experience to Telecom Egypt’s customers, including faster data speeds, enhanced performance, and capacity. Deployment will take place later this year.

Under the agreement, Nokia will deploy5G radio access network (RAN)equipment from its industry-leading AirScale portfolio, comprising baseband units and its latest generation ofMassive MIMO radios. These solutions utilizeNokia's energy-efficient ReefShark System-on-Chip technology, delivering extensive5G capacity and coverageas well as enabling easy deployments. Nokia will also offer a range of professional services, encompassing deployment, integration, and network optimization.

The introduction of5G technologywill bring numerous benefits, including increased capacity for seamless connectivity in some of Egypt’s most densely populated areas. This will support a wide range of applications and services, resulting in faster downloads, smoother streaming, and improved network performance. This advancement will enable unprecedented levels of innovation and efficiency across various sectors, empowering organizations to thrive in today's fast-paced digital landscape.

Earlier this year, Telecom Egypt secured the country's first 5G license, which is valid for a period of 15 years.

Telecom Egypt, Egypt’s market-leading telecom operator, and 4iG Group, the leading telecommunications and IT group inHungary and the Western Balkans, signed aMemorandum of Understanding (MoU)to establish a joint venture to build, operate, and commercializeFiber-To-The-Home (FTTH)andFiber-To-The-Site (FTTS) fiber accessinfrastructure on a wholesale basis in Egypt. The joint investment aims to build the most modern fiber network that provides at minimum aroundsix million householdsaccess to a state-of-the-art, high-speed network in the future.

According to the agreement inked in Cairo, the proposed joint venture will have invested approximatelyUSD 600 millionto be delivered into Egypt's fiber access infrastructure in the coming10 years. During the months to come after the signing theMoU, 4iG Groupand Telecom Egypt will agree on the business model, exact ownership structure, governance processes and technological details of the joint venture.

This partnership aligns with Telecom Egypt’s plan to transform all areas into FTTH networks under the Ministry of Communications and Information Technology’s“Digital Egypt” strategy, in line with Egypt’s Vision 2030 for a digitally transformed society and a robust digital economy. On the mobile broadband side, connecting Mobile sites with fiber infrastructure will, in turn, empower the mobile networks to satisfy the growing demand for capacity and enable the real deployment of massive 5G rollouts.

Telecom Egypt’s efforts and continuous upgrades have bolstered the infrastructure's capacity to accommodate the unparalleled surge in traffic, significantly enhancing Egypt's ongoing digital transformation. In the past six years alone, the country’s internet speeds have increased tenfold.

On the first day of the conference, Mr. Gellert Jászai, Chairman of 4iG, along with a selected group of top leaders from global and European companies and banks, was invited to a private roundtable hosted by the President of Egypt and the President of the EU Commission. During this meeting, the leaders pledged significant investments to support the development of Egypt's economy. Mr. Jászai highlighted 4iG's dedication to enhancing Egypt's digital infrastructure in collaboration with Telecom Egypt. "By aligning our strategic approach with Egypt’s priorities, we believe that improving the digital infrastructure will boost competitiveness and productivity. Through these partnerships, we aim to create jobs, build a skilled workforce that supports local enterprises, and improve the quality of life for Egyptians," Mr. Jászai stated.

Telecom Egypt |WE,Egypt’s first fully integrated telecom operator, has signed a cooperation protocol with Ora Developers Egypt to provide a comprehensive suite of integrated telecommunications services across its real estate developments

The protocol was signed byMr. Mohamed Abu Taleb, CCO at Telecom Egypt, andMr. Haitham Abdel Azim, Managing Director and Board Member of Ora Developers Egypt.

Under this protocol, Telecom Egypt |WE will deliver a fully integrated portfolio of telecommunications services in line with the latest advancements in telecommunications technology across residential, commercial, and administrative units within Ora Developers Egypt’s projects. These services include landline, high-speed internet, IPTV services, and other advanced smart city solutions. In addition, Telecom Egypt will establish mobile signal towers and booster stations to ensure maximum network efficiency and optimal coverage throughout the real estate developments.

The protocol also grants Telecom Egypt |WE a package of advertising, promotional, and marketing sponsorship rights within Ora Developers Egypt’s projects, in addition to providing designated retail outlets for offering Telecom Egypt’s full range of services on-site. Furthermore, Telecom Egypt will serve as the official and exclusive telecommunications and internet sponsor for all major events and festivals held within Ora Developers Egypt’s developments.

The cooperation betweenTelecom Egypt |WE and Ora Developers Egyptcovers the provision of telecommunications services across several flagship projects, including Silver Sands in the North Coast, Solana New Zayed, Pyramids Hills in October City, Zed Sheikh Zayed, Zed East in New Cairo, and Zed Park in Sheikh Zayed.

Telecom Egypt’s Board of Directors has approved the 2024 budget with KPI guidance as follows:

• Mid double-digit revenue growth.
• EBITDA margin in the late thirties.
• In-service CapEx-to-sales ratio in the early twenties, excluding license fees.
• FCFF to EBITDA ratio in the early forties, excluding license fees.

Telecom Egypt has selectedRaya Information Technology (Raya IT), a subsidiary of Raya Holding for Financial Investments, to implement the second phase ofTelecom Egypt’s Regional Data Hub (RDH). This second phase of the state-of-the-art data center—slated for launch in 18 months—is poised to transform the telecommunications industry by providing enhanced connectivity, reliability, and sustainability for its customers. The decision to expand was prompted by the need to meet growing demand following the resounding success of RDH’s first phase, which reached full utilization in just one year.

Under this collaboration, Raya IT’s experience team will provide a range of services for the new RDH phase, as well as the latest solution and top-notch innovative technology to support business growth in the digital landscape, thereby enhancing the data center’s scalability and adaptability in the ever-changing digital world. The range of services includes data center design and planning, data center construction, power infrastructure, cooling solutions, physical security, fire suppression systems, and rack and cabinet installation.

The advanced design will adhere to international sustainability standards, address the pressing issue of rising energy costs, and minimize the environmental impact. Raya IT will also facilitate the acquisition of the Uptime Institute Tier III Certification in Design, Constructed Facility, and Operational Sustainability for this second phase. This certification reaffirms Telecom Egypt’s unwavering commitment to delivering exceptional service quality and ensuring a resilient infrastructure for its customers.

The second phase of RDH is strategically located to act as a regional hub offering scalability options to all phase one RDH customers, while also providing seamless connectivity to all 10 Mediterranean and Red Sea subsea landing stations. It also offers businesses a unique opportunity to expand globally, with access to over 60 countries.

Upon completion of this second phase, RDH will boast a capacity of up to 7.1 MW IT load. The plan involves the construction of two additional phases within the Smart Village availability zone, to reach a total capacity of up to 16.3MW IT load. Leveraging this capacity, current RDH customers and new potential customers can swiftly scale and adapt in the rapidly evolving digital landscape. This capacity will also enrich the end-user experience, mark a new step in the Digital Egypt strategy, and propel Egypt to become one of the world’s major data hubs.

It is worth mentioning that the first phase of RDH launched in the first quarter of 2021. As previously mentioned, it is now fully utilized--hosting most of the local ISPs and more than 22 international customers, comprising cloud providers, content providers, as well as EG-IX, the first open access regional Internet Exchange platform in partnership with AMS-IX, Europe’s leading Internet Exchange platform.

Telecom Egypt |WE", the first fully integrated telecom operator in Egypt, signed a cooperation protocol with Madinat Masr Company to provide all integrated communications services and smart city services in its real estate projects. The protocol was signed by Engineer Mohamed Nasr, Managing Director and CEO of Telecom Egypt, and Engineer Abdullah Salam, CEO and Managing Director of Madinat Masr Company.

Under this protocol, Telecom Egypt |We provides an integrated package of telecommunications services and smart city services according to the latest communications technology within residential, commercial, and administrative units, including landline, high-speed Internet, IP TV broadcasting services, and others. To ensure superior communication services and network coverage Telecom Egypt will establish towers and mobile signal booster stations across the projects in addition to providing sales outlets to provide all sales services from Telecom Egypt and Public Wi-Fi services.

Telecom Egypt reported solid Q1 2023 results, with revenue growth driven by expansion in the Data segment and Wholesale infrastructure services. The company demonstrated resilience amid a challenging macroeconomic backdrop, with growing subscriber numbers across its Fixed Voice, Fixed Broadband, and Mobile segments.

Consolidated revenue up30%YoY, reaching EGP42.0bn, thanks to IDD revenue, which almost doubled YoY reaching EGP4.3bn on increased traffic (+12%YoY) and USD appreciation, followed by a50%YoY increase in cable revenue reaching EGP3.1bn, and the continuous increase in both fixed and mobile data revenues (+18%YoY, landing at EGP15.9bn). Customer base grew on all fronts, with fixed voice reaching12.4mn subscribers (+9%YoY), fixed data reaching9.3mn subscribers (+8%YoY), and mobile subscribers reaching12.5mn (+6%YoY). EBITDA hiked to EGP17.6bn, achieving a strong margin of42%on the back of an improved revenue mix.

Operating profit reached EGP10.6bn, up23%, despite the38%YoY inflation in D&A costs. Net profit grew48%YoY, reaching EGP9.1bn despite3.7xhigher interest expense, driven by the positive operational results and67%higher investment income that reached EGP3.4bn.

In-service CapEX reported EGP11.7bn, implying in-service CapEX/sales of28%, while cash CapEX reported EGP18.4bn (including license), implying cash CapEX/sales of44%. Excluding the license instalments, cash CapEX/sales would reach37%.

Net debt reached EGP35.9bn, with net debt/EBITDA on an annualized basis coming in flat at1.5xvs.1.4xin FY2022despite the51%upside in gross debt due to foreign currency exposure revaluation. Net operating cash flow reached EGP11.4bn. However, FCFF amounted to a negative EGP2.3bn, mainly due to the increase in vendor payments to secure CapEX and as a means of hedging against expected FX fluctuations.

Telecom Egypt |WE, Egypt’s first fully integrated telecom operator, has signed a cooperation protocol with Prime Developments to provide integrated telecommunications services and smart systems across its various real estate projects.

The protocol was signed by Mohamed Abu Taleb, CCO of Telecom Egypt| WE, and Ishak Anwar, Chairman of Prime Developments.

Under this protocol, Telecom Egypt |WE will implement the technological infrastructure for Prime Developments’ projects, including the deployment of fiber optic networks required to deliver high-speed internet services to all residential, administrative, and commercial units. This will enable the provision of a full range of integrated telecommunications services, including landline, high-speed internet, IPTV services, and other smart telecommunications solutions. These solutions include camera connectivity, electricity, water, and irrigation services. In addition to providing public Wi-Fi services within the projects. The infrastructure will also support the control, management, and maintenance of advanced systems in accordance with the technical specifications of the New Administrative Capital Company.

Telecom Egypt | WE announced the provision of university scholarships at Egyptian universities for top-performing graduates of the WE Applied Technology School in Nasr City. This initiative reflects the company’s ongoing pioneering role in investing in human capital in Egypt and in localizing the telecommunications and information technology industry. The program aims to provide academic pathways for outstanding graduates, enhancing their skills, supporting them in specializations that serve the ICT sector, and preparing a new generation of qualified professionals capable of addressing contemporary challenges and meeting the evolving needs of the labor market. The initiative is implemented under the auspices of the Ministry of Communications and Information Technology.

Scholarships will be awarded to approximately 20% of the top-performing graduates of the WE Applied Technology School in Nasr City for the year 2023, totaling 190 graduates. This includes 20 scholarships in Telecommunications and 20 scholarships in Information Technology, bringing the total number of scholarships to 40 across various faculties and institutes specializing in ICT fields. These include, but are not limited to: Elsewedy University of Technology; Faculty of Industrial and Energy Technology at Cairo New Technological University; Faculty of Industrial and Energy Technology at 6th of October Technological University; Faculty of Technology and Industrial Education at Helwan University; Faculty of Industrial and Energy Technology at Egypt International Technological University; October Higher Institute for Engineering and Technology; Pyramids Higher Institute for Engineering and Technology; and Al-Alsun Higher Institute for Administrative Information Systems.

The 40 scholarship recipients, male and female, will be selected based on a set of criteria designed to ensure equal opportunity for distinguished students. Selection is based on academic excellence, technical diploma scores, behavioral and disciplinary distinction, specialized certificates and training courses completed, in addition to participation in community and voluntary activities, to ensure the selection of the most outstanding students to continue their educational pathways.

Telecom Egypt | WE announced its sponsorship of the 2023 edition of the“Turathna” Exhibitionfor Handicrafts and Heritage, whose fifth edition was inaugurated on Sunday, 8 October, under the patronage of President Abdel Fattah El-Sisi, at Egypt International Exhibition Center in New Cairo. The exhibition features the participation of more than1,000 exhibitorsfrom across all Egyptian governorates and runs until 14 October.

Telecom Egypt | WE’s sponsorship of“Turathna”as a leading partner comes as part of the company’s commitment to actively supporting the development of handicraft and heritage industries in Egypt. This support contributes to mitigating the economic impacts of global developments on these industries through cooperation betweenTelecom Egypt |WE and the Micro, Small, and Medium Enterprise Development Agency (MSMEDA).

In its fifth edition, the exhibition aims to open new markets for handicraft and heritage products by expanding the organization of specialized exhibitions and events to promote these products and raise awareness of the importance of handicraft work. It also seeks to protect rare Egyptian crafts from extinction, support their craftsmen, develop their skills, market their products, and create unique opportunities for enthusiasts of these industries to explore the latest developments, while offering products at competitive prices throughout the exhibition period.

This exhibition also features the participation of six Arab countries: KSA, the United Arab Emirates, Jordan, Bahrain, Algeria, and Tunisia. Their participation helps strengthen cooperation and shared ties among Arab peoples through the exchange of cultural heritage that reflects the authentic Arab identity, while also promoting intra-regional trade and economic integration among small business owners in these countries.

Telecom Egypt, Egypt’s first integrated telecom operator and one of the largest subsea cable operators in the region, and 4iG Plc, the Budapest-based info-communications company in Hungary and the Balkan region, have signed a Memorandum of Understanding (MoU) to link Egypt and Albania via a point-to-point, high-capacity subsea cable. With an open access model and multiple branching units, the system is set up to be a new European cable entry point via Albania. It represents a qualitative addition to the existing Mediterranean routes, connecting to the main internet points of presence (PoP) in Europe, such as the ones in Budapest, Vienna, and Frankfurt, in addition to numerous potential PoPs in Eastern Europe.

The MoU was signed in Cairo by Mohamed Nasr, Managing Director and Chief Executive Officer at Telecom Egypt, and Gellért Jászai, Chairman of the Board of Directors at 4iG Plc. The signing ceremony was witnessed by H.E. Dr. Amr Talaat, Minister of Communications and Information Technology, and H.E. Mr. András Kovács, Ambassador of the Republic of Hungary to Egypt, and a host of leaders from the Ministry of Communications and Information Technology and Telecom Egypt.

Through this MoU, the two companies aim to gain a significant share of the huge and rapidly-growing market of data traffic between Europe and Asia, and also between Europe and East Africa. It further enables 4iG Group to enter the intercontinental data traffic infrastructure market as a new player, linking between Europe and Asia, and Europe and East Africa.

Albania is privileged with its strategic location as one of the prominent gateways and entry points to Eastern Europe. Backed with a secured cross-borders terrestrial infrastructure, it will facilitate onward connectivity and access to various key destinations.

Telecom Egypt, with an established history of over 165 years, and a vast expertise in pioneering the subsea intercontinental connectivity, is the partner-of-choice for a growing 160 major subsea cable players worldwide. The company spares no effort to develop a varied portfolio of offerings using cutting-edge solutions to keep pace with the increasing global demand for international connectivity and diversity, while providing the shortest and most reliable routes for its global partners. This has been evident through the significant investments Telecom Egypt has made to diversify its subsea cables infrastructure from landing points and cable systems to both terrestrial and subsea routes, whether inside Egypt or in other varied locations worldwide.

Telecom Egypt, Egypt’s first integrated telecom operator and one of the largest subsea cable operators in the region, and the Medusa Submarine Cable System, a neutral and independent Mediterranean submarine infrastructure operator, have signed an agreement to extend Medusa to the Red Sea. The 8,760 km long submarine cable, which will land in the Egyptian city of Port Said by the end of 2025, will be connected to the Red Sea landing stations of Suez, Zafarana, and Ras Ghareb through Telecom Egypt’s extensive terrestrial crossing network.

The companies’ CEOs signed the agreement during the Submarine Networks World event currently taking place in Singapore. The new connection will enable direct access to all the Medusa Mediterranean landings in Europe and North Africa to the Red Sea. Arriving at these geographically diverse Egyptian-landing points will present new connection points for the Medusa submarine cable.

In March 2022, Telecom Egypt and AFR-IX Telecom signed an initial agreement to land Medusa at the Port Said station. This marked a significant step, as Medusa will connect ten countries in Africa and Europe - Portugal, Morocco, Spain, France, Algeria, Tunisia, Italy, Greece, Cyprus, and Egypt - through its landing points. The cable will become operational in the Western Mediterranean in 2025.

With segments housing up to 24 fiber pairs capable of transmitting 20 Tbit/s per fiber pair, Medusa's landing at Egypt’s coast by the end of 2025 will be a milestone that further enhances the country's position as a hub and strengthens its status as a strategic connection point between Asia, Africa, and Europe. Egypt currently has 14 subsea cable systems, 10 landing stations, and 10 terrestrial routes crossing the country, connecting the Red Sea and the Mediterranean Sea.

Telecom Egypt is working on developing the geographic diversity of the international submarine cables infrastructure on several levels, including establishing landing stations and new routes for crossing subsea cables, as well as increasing its investments in new cable systems and cutting-edge solutions to keep pace with the increasing global demand for international connectivity. Telecom Egypt continually makes significant investments in its global infrastructure to provide the shortest and most reliable routes for its partners worldwide. With a well-established history in the subsea cable industry and a team of top-notch professionals, Telecom Egypt is the subsea cable deployment partner-of-choice for more than 160 major subsea cable players.

Telecom Egypt, Egypt’s first integrated telecom operator and one of the largest subsea cable operators in the region, has launched its new WeConnect ecosystem, providing agile access to Egypt’s extensive subsea cable infrastructure. WeConnect enables users to mix and match connectivity between subsea cable systems in the Mediterranean Sea and the Red Sea using an open and neutral model.

Today, with globally competitive pricing schemes, WeConnect’s digital platform enables users to click-to-order cross-connectivity between the 14 subsea cable systems landing in Egypt’s 10 cable stations, linked via the 10 terrestrial routes spanning the country. WeConnect users will easily manage their commercial agreements through the online platform to enjoy accelerated access to the growing number of subsea cable systems with greater agility, adaptability, diversity, and resiliency.

Through WeConnect’s cross-connection ecosystem, Telecom Egypt’s partners can easily log into the platform and route their traffic over different systems, enabling them to scale up wherever they see an opportunity, while having full control over their subsea cable connectivity. WeConnect provides efficient scalability, with the potential to promote the reach of all applications and services to billions of potential end users. Building on Egypt’s geographic and geopolitical advantages, and with an open, neutral and transparent cross-connection model, Telecom Egypt emphasizes its position as a “go-to” destination for international connectivity and a global digital infrastructure hub. Thanks to this new, attractive, standardized pricing model, partners can now easily “land and expand” and grow their digital infrastructure across three continents: Asia, Africa, and Europe.

Telecom Egypt has made strategic investments in 15 subsea cable systems globally, with more than 5 cable systems coming into service in the near future. Egypt’s coastlines, spanning 1,951km on the Red Sea and another 995km on the Mediterranean Sea, enable Telecom Egypt to offer diversity and resiliency in cable landing locations. As the world witnesses increasing demand for connectivity, Telecom Egypt sees a huge opportunity to satisfy those needs and take global connectivity to the next level through innovative initiatives and state-of-the-art projects.

Telecom Egypt | WE launched a distinguished marketing campaign today to announce the introduction of its new monthly billing system,"WE Gold"under the title"Malaksh A’kher."This initiative is part of the company’s strategy to achieve customer satisfaction and meet their evolving needs by designing packages and systems that allow customers to maximize the benefits ofTelecom Egypt | WE’soutstanding communications and information technology services. This campaign further reinforces the company’s leadership as the first integrated operator of communications and information technology services in Egypt.

The WE Gold system offers various features and more flexible packages that enable customers to make optimal use of the minutes and gigabits within the package and enjoy home internet from the first package, with the possibility of changing the home internet package individually without the need to change the price tariff. The customer who subscribes to WE Gold can also share the features of the system with their family members and friends, and enjoy international minutes and free roaming internet when traveling.

The advantages ofWE Goldare not only limited to telecommunications services, the new system also allows subscribers to purchase mobile devices from WE‘s branches in installments and provides an annual purchase voucher that can be used to buy mobile devices from any WE branch across the country. Additionally, customers receive monthly points and purchase vouchers, which can be redeemed at WE’s branches as well as at participating companies and exhibitions through WE Bonus.

Telecom Egypt |WE continues to expand the establishment of applied technology schools by opening 5 new schools

Telecom Egypt announced the opening of five new branches of WE Schools of Technology before the start of the new academic year 2023/2024 in five governorates across the country, namely the governorates of Assiut, Qalyubia, Beheira, South Sinai, and Qena, under the auspices of the Ministry of Communications and Information Technology and in cooperation with the Ministry of Education and Technical Education, and with the opening of these five new schools, the number of WE schools for applied technology reaches 12 schools throughout the country.

This step reflects implementing the extended cooperation protocol between the Ministry of Communications and Information Technology and the Ministry of Education and Technical Education, building on the success achieved by WE schools at the national level. It aims to expand the establishment of applied technology schools in all governorates, bridging the gap between the theoretical educational process and the actual needs of the labor market by providing high-quality educational opportunities for these regions. This initiative aligns with Egypt's Vision 2030 to develop the technical education and vocational training system. The Ministry of Communications and Information Technology covers approximately 75% of the cost of a student’s education during their school term.

Students who have obtained a preparatory certificate can apply to join the new schools until Saturday, 9/9/2023, through the official website of the Ministry of Education and Technical Education.

It is worth noting that, during the current year, the first batch of students graduated from the WE Schools of Applied Technology in Cairo, which were established three years ago. During this period, many distinguished partnerships were formed with international organizations specializing in communications and information technology to integrate advanced curricula that align with both academic standards and the actual needs of the labor market, while also providing specialized vocational training.

WE Schools of Applied Technology provide students with all study materials and training equipment, including a tablet for each student, as well as buses for transportation to field training sites. The schools offer practical training in laboratories and workshops equipped with the latest technological devices and techniques, along with field training at the technical sites of Telecom Egypt and its subsidiaries. This hands-on experience equips students with the technical skills needed to become professional technicians who understand contemporary work culture and can successfully enter the labor market. After three years, graduates of WE Schools receive a technical diploma in the following specializations: Telecommunications, Website and Software Development, and Information Networks and Security. These qualifications enable them to join technological colleges, industrial education institutes, and engineering colleges after passing the equivalency test.

Telecom Egypt also organized a recruitment forum for the graduates of the first batch of WE Schools of Applied Technology in Cairo, following their graduation last May. The event included participation from 28 international and local companies in the communications and information technology sector. The forum provided graduates with opportunities to pursue careers with participating companies and allowed them to learn about technology firms, market trends, and the latest innovations in the field.

H12023key highlights

Consolidated revenue grew38%YoY, landing at EGP28.1bn, fueled by the75%YoY hike in wholesale revenue, constituting71%of top-line growth, followed by strong retail performance.

Customer base increased across the board with fixed voice and broadband growing5%and8%YoY, respectively, while mobile customers increased by7%YoY to reach12.6mn.

EBITDA reached EGP12bn, surging48%YoY and recording a high margin of43%on an enhanced revenue mix.

Adjusted operating profit increased by54%on strong operational performance, overshadowing the38%higher YoY D&A costs.

Net profit amounted to EGP6.7bn, while normalized net profit marked EGP7.0bn, marking a profound67%increase YoY, thanks to excellent operational results and higher investment income, which negated the surge in interest expense.

In-service CapEx amounted to EGP4.5bn, a55%increase YoY - comprising16%of sales.

Cash CapEx excluding license fees reached EGP11.2bn, representing40%of sales.

Net debt/EBITDA on an annualized basis came flat at1.4xvs. FY2022despite the43%upside in gross debt due to foreign currency exposure revaluation.

Telecom Egypt begins operating its capacities on the Equiano submarine cable in West Africa, and connects the island of St. Helena to the world on the first submarine cable connecting to the island

Telecom Egypt, the first integrated telecom operator in Egypt and one of the largest submarine cable operators in the region, and the government of Saint Helena announced the activation of service on the Equiano submarine cable, which is the first submarine cable linking the island of Saint Helena to the world, which represents a qualitative shift in efforts to enhance Economic growth of the island.

The St. Helena Island Government is keen to make the most of the cable's full potential and start using the new communication path as soon as possible. The government is working to establish a new local network covering the entire area of the island and connect it to the Equiano cable landing station, to ensure the provision of an integrated package of services based on fiber optic technology at high speed to all homes and businesses on the island.

The length of the submarine cable linking Saint Helena to the Egyptian telecommunications system via Equiano is 1,140 kilometers, and the cable extends along the western coast of the African continent to connect the island of Saint Helena with Portugal and South Africa. The 400GB cable will be powered by Nokia's 1830 PSE-Vs (7nm) chip suite, with the possibility of developing it in the future using the latest PSE-6S (5nm) chip suite to reach huge capacities of up to several terabits. The new submarine cable system thus provides efficient and economical solutions that meet the growing needs for communication capacities on the island.

Thanks to its extensive experience in the field of submarine cable connectivity, Telecom Egypt, in cooperation with the Government of Saint Helena, was able to offer the "Dynamic Circuit Network" feature, which ensures the provision of fixed capacities to Saint Helena Government partners. Telecom Egypt also supported the Government of Saint Helena in the design, installation, and preparation of network devices and submarine cables.

"We are thrilled to be witnessing this historic milestone, as we have been able to support a better life for individuals and businesses in St. Helena by providing high Internet speeds and capacities for the first time in our history," Mark Brooks, Minister of Treasury, Infrastructure, and Sustainable Development for the Government of St. Helena, said. This promising project opens up new growth prospects and offers tremendous potential for the island, including but not limited to opportunities to boost the economy through new revenue streams. This project also helps improve the quality and efficiency of service delivery in St. Helena thanks to the technological advances provided by Internet services, especially in the sectors of health (telemedicine), education, social care for the most in need groups, business, tourism, and e-commerce. We were pleased to cooperate with the Telecom Egypt team, which demonstrated dedication, sincerity, and the ability to address all operational challenges with skill and competence."

Telecom Egypt has a long history in the submarine cable industry, in addition to an integrated team of the most skilled and distinguished cadres who make tireless efforts to strengthen the international infrastructure of the telecommunications sector. The company's successive success stories over the years demonstrate the success of its approach and strategy, in addition to being the preferred partner for more than 160 major submarine cable operators. Telecom Egypt's contribution to the international submarine cable infrastructure confirms the company's commitment to providing the latest solutions to partners and customers at the local and international levels.

Q1 2023 results: Telecom Egypt starts the year on a high note

Consolidated revenue grew48%YoY to reach EGP14bn, thanks to the growth witnessed across the board, especially wholesale units, which constituted70%of the total growth, backed by86%higher infrastructure revenues YoY and growing USD-denominated revenue streams.
• Customer base expanded across the board, with fixed voice and broadband growing5%and7%YoY, respectively, while mobile customers increased by22%YoY to reach12.4mn.EBITDA climbed72%YoY, recording EGP6.1bnand reflecting a robust margin of44%, mainly driven by high-margin revenues.Adjusted operating profit jumped101%YoY based on strong operational performance, offsetting the31%higher D&A costs YoY.Excluding non-operating one-offs, net profit spiked up144%YoY reaching EGP4.1bn, in light of healthy margins and increased investment income--together overshadowing the higher D&A and finance costs.FCF landed at EGP0.6bn, excluding the last tranche of the new spectrum, it reaches EGP2.6bn, implying a FCF/EBITDA ratio of43%.In-service capex landed at EGP1.3bn(representing9%of revenues), while cash capex reached EGP6.1bn, recording a43%cash capex to sales ratio. Excluding the spectrum payment, the latter ratio reaches28%.Net debt/EBITDA on annualized basis recorded1.2xvs.1.4xin FY2022despite the inflated gross debt of +34%QoQ resulting from the revaluation of our hard currency obligations.

Within its continuous efforts to enhance its value proposition, Telecom Egypt, Egypt’s first integrated telecom operator and one of the largest subsea cables operators in the region, announces the recent successful landing of the 2Africa subsea cable in Port Said. This milestone marks the second and final 2Africa landing in Egypt, coming five months after the first landing in the Red Sea city of Ras Ghareb. The landing in Port Said also marks the completion of 2Africa installations on Egyptian territory. It is worth mentioning that Telecom Egypt completed 2Africa's terrestrial crossing in Egypt ahead of schedule in 2020; meanwhile, in October 2022, it concluded the third marine path connecting the Ras Ghareb and Suez landing stations.

Since its early deployment of telegraph subsea cables connecting Africa, Europe, and Asia about150 years ago, Egypt has been the most reliable and trusted hub linking the three continents. In addition to this well-established history in the subsea cable industry, Telecom Egypt capitalizes on the nation's extensive coastlines on boththe Red Sea and the Mediterranean Sea (1,941km and 995 km, respectively), giving it a competitive advantage in providing a geodiverse, uniform integral system via an ever-expanding international network.

Launched in May 2020 by a consortium of firms – Telecom Egypt, Meta, China Mobile International, MTN GlobalConnect, Orange, center3 (stc), Vodafone and WIOCC – and with the contracting of Alcatel Submarine Networks (“ASN”) to build the cable, the 2Africa subsea cable system is designed to deliver seamless international connectivity solutions and boost internet connectivity, linking Africa with the rest of the world. It further enhances Egypt’s position as a key international hub for global communication networks.

2Africa lands in two carefully-chosen sites in Egypt: on the Red Sea, it lands at the Ras Ghareb landing site, located 100km south of the Zafarana cable landing station, whereas the Mediterranean landing site, Port Said, is located 250km east of the Alexandria landing station. Both landing stations will connect via two terrestrial trans-Egypt routes adjacent to the Suez Canal. The crossing solution, deployed with next-generation fibre technology, will offer seamless optical paths between Africa, Asia, and Europe. It is complemented with the subsea festoon in the Red Sea on Telecom Egypt’s Red2Med cable system, which connects the Red Sea landing stations of Ras Ghareb, Zafarana, and Suez adding an extra layer of diversity to the crossing.

Upon completion in 2024, 2Africa will be one of the world’s largest subsea cable projects interconnecting Europe, Asia, and Africa. The 45,000km system will deliver more than the total combined capacity of all subsea cables serving Africa today. With its 16 fibre-pairs’ count and a design capacity of up to 180Tbps, 2Africa will connect 33 countries through 46 landings, ultimately enhancing global connectivity, and facilitating communications for over 3 billion people over fast, secure, cost-efficient routes. It will deliver much needed internet capacity and reliability across large parts of Africa, supplement the fast-growing capacity demand in the Middle East, and underpin the further growth of 4G, 5G and fixed broadband access.

As part of the 2Africa consortium, Telecom Egypt reaffirms its commitment to driving digital inclusion and development in Africa by increasing access to high quality internet services and investing in the network infrastructure to seamlessly match traffic between Africa, Asia, and Europe. It further highlights the global trust in Telecom Egypt’s infrastructure, which carries 90% of the international traffic crossing the Red Sea and Mediterranean Sea.

Telecom Egypt is proud to announce the launch of its upcoming cybersecurity hackathon event as part of its corporate innovation hub WE Innovate sponsored by NTRA & EG-CERT. The event is scheduled to take place on 16-18 May in Egypt’s international exhibitions center in Nasr City, Cairo, Egypt and will bring together top cybersecurity experts and enthusiasts from around the Middle East to collaborate on creating innovative solutions for current and future cybersecurity challenges.

The hackathon will feature a variety of exciting challenges designed to test participants' skills and push the limits of their creativity. It will also offer networking opportunities with industry leaders and potential investors. Participants will have the chance to compete for a total of 15K USD cash prizes, recognition, and the opportunity to work with WE’s partners and the top industry experts to bring their solutions to market.

Telecom Egypt today announces that Eng. Mohamed Nasr Eldin Mohamed Ali has been appointed as Managing Director and CEO of the company to succeed Eng. Adel Hamed Ibrahim Gadallah. The board of directors (the “Board”) has accepted Eng. Adel Hamed’s request to be relieved from the position of Managing Director and CEO to assume a new role at the Ministry of Communications and Information Technology. However, Eng. Hamed will remain on Telecom Egypt’s board of directors as a non-executive member. The Board meeting held today has approved these changes and are effective immediately.

Eng. Mohamed Nasr Eldin was appointed as a member of Telecom Egypt’s Board of Directors in July 2020, representing the government.

He joined Telecom Egypt in 2004, eventually becoming Head of the International Cables and Networks Business Unit in 2014. During that period, Eng. Nasr Eldin undertook several initiatives that contributed to maximizing Telecom Egypt's revenues and capitalized on Egypt’s strategic position as a route for international submarine cables.

From May 2020 until March 2023, he was Deputy ICT Minister for Global Information Infrastructure at the Ministry of Communications and Information Technology. With over 20 years of experience in the telecommunications sector, Eng. Nasr Eldin specializes in the planning, development, and operations of submarine cables and international networks. He also has extensive experience in managing international programs and projects, having held several positions since 2016 at PCCW Global--the global operating division of Hong Kong Telecom--including Head of Subsea Cable Infrastructure; Vice President of Cable Innovation, Planning, and Management; as well as Assistant Vice President of Cable Development for the Europe, Middle East, and Africa region. His key role at PCCW included planning for new submarine cables and carrying out the corresponding feasibility and investment studies.

Eng. Nasr Eldin earned a bachelor’s degree in Telecommunications Engineering from Al-Azhar University in Egypt in 2001 and also holds an MBA

FY 2022 key highlights

Consolidated revenue increased by19%YoY to report EGP44.3bnin FY2022, backed by the21%and17%increase in retail and wholesale revenues, respectively, thanks to the EGP3.2bnincrease in data revenue, followed by other enterprise and cable projects revenues, each increasing EGP0.9bnYoY.
• Customer base expanded across the board, with fixed voice and broadband growing5%and9%YoY, respectively, while mobile customers increased by almost3mnsubscribers backed by1.5mnnew customers from mega projects.EBITDA landed at EGP17bn(+23%YoY), implying a strong margin of39%on higher revenue mix, meeting management’s guidance and easing the inflationary pressures reflected on some cost elements.Operating profit grew16%YoY despite the25%increase in D&A. However, normalized for the one-off provision costs, it grew by22%YoY to report EGP10.3bn.Net profit increased by9%YoY reaching EGP9.2bn, backed by the strong operational performance. However, excluding one-offs—comprising lower income from Vodafone (mainly caused by currency devaluation), the aforementioned provision reversal and FX impact — normalized net profit would have recorded EGP10.1bn, growing31%YoY and implying a margin of23%.In-service capex landed at EGP12.6bn(representing28%of revenues, +1%YoY). Cash capex reached EGP19bn, whereas by excluding spectrum and license fees, it reaches EGP13.7bn.Net debt/EBITDA recorded1.4xvs.0.9xin2021; however, the Effective Interest Rate (EIR) declined to5.5%vs.7%in the same period, despite the inflated gross debt of +89%YoY resulting from the USD appreciation.Dividend distribution proposed by the BoD is EGP0.75/share.

Telecom Egypt announces that the National Telecom Regulatory Authority (NTRA) has accepted its financial and technical offer to obtain an additional 5MHz of spectrum in the 1800MHz band using FDD technology. The 10-year spectrum allocation was competitively priced at USD 125mn compared with the spectrum awarded in late 2020.

The company viewed this as a strategic move to support heavier traffic from a growing customer base while cost-effectively improving service speed and quality. The additional spectrum will boost voice and data service quality, increase network coverage around the country, and support the fast-paced evolution of customer needs and aspirations. Furthermore, with fast data rates, low latency, and good coverage, the additional spectrum will also provide future business and technological advantages for all beneficiaries. WE customers will be able benefit from the enhancement almost immediately as the company is technically ready to operate the additional spectrum. Moreover, injecting new investments in the allocated spectrum and utilizing advanced technological solutions is yet another concrete milestone in Telecom Egypt's transition from a fully integrated telecom provider to become the country’s leading ICT provider.

WE starts the new year 2023 with a development of its brand under the slogan "Like no other”

WE announced the development of its brand and slogan at the beginning of the New Year 2023, in celebration of the reach of 12 million mobile customers with a market share exceeding 10% within 5 years of the launch of WE brand to become the first integrated operator within the Egyptian telecommunications market.

The slogan becomes "Like no other" in line with the company's plan and strategy during the next phase and its transformation from the first integrated telecommunications operator to the first digital operator to provide innovative and different digital solutions and services that contribute to enhancing the digital economy and accelerating the transition towards a digital society, commensurate with the leadership of Telecom Egypt as one of the largest ICT providers in the region.

On this occasion, WE launched its new promotional campaign that brought together many artists and stars, Hind Sabri, Amr Saad, Nadine Najim, Hoda al-Mufti, Nur al-Nabawi and Marwan Musa as an expression of addressing all segments of customers with different interests in the Egyptian society and providing them with state-of-the-art services that meet their needs and future aspirations.

To complement the development and modernization processes of the company, WE will maximize the investments that are constantly being made to reinforce networks, develop infrastructure and provide value-added services to become the Egypt's newest network.

Eng. Adel Hamid, Managing Director and Chief Executive Officer of Telecom Egypt| WE expressed his pleasure of TE’s performance in the last few years and how the number of mobile customers reached 12 million in a new accomplishment flagged by the company.

In a real translation of its strategy, WE confirms its steady steps towards transformation into a digital operator, the future model of telecommunications services in the coming years, depending on the latest networks and technologies to meet the needs of its customers.

He added that Telecom Egypt vision is based on providing digital telecommunication services to empower the Egyptian society and support the state's plans towards digital transformation by providing the best services of the highest possible quality, thereby enhancing market value.

He also stressed that the change in the company's brand is not only a change in the shape, but also a change in the content and quality of services that the company seeks to launch in the coming period with a new dimension to digital services that contribute to enriching the experience of its customers and enhance its leadership within the Egyptian market.

Mohammed AbuTaleb, Executive Vice President of Commercial Affairs, confirmed that after 5 years since the launch of the WE brand, the company was able to reach various customers and sectors with different interests under the fierce competition within the local telecommunications market, which is nearly saturated 110%.

The company succeeded in building and gaining the customers trust year after year and proved, with its customer base of up to 12 million customers, that it deserves this trust. The company's endeavor to improve its infrastructure is clearly reflected in the quality and efficiency of the company’s voice and data services.

Abu Taleb added that the change of the company’s brand from "Before any one" to "Like no other” is an interpretation of the company's strategy in the coming period, which is to provide innovative and different services and solutions to enable its customers to have a more distinctive experience of ICT solutions and services that meet their future interests and needs.

Telecom Egypt, Egypt’s first integrated telecom operator and one of the largest subsea cables operators in the region, and Grid Telecom, a wholly owned subsidiary of the Independent Power Transmission Operator (IPTO) in Greece, signed a collaboration agreement to build a subsea system connecting Egypt and Greece. Egypt’s Minister of Telecommunications and Information Technology, Dr. Amr Talaat, witnessed the signing ceremony held in Cairo, Egypt. The Managing Director and CEO of Telecom Egypt, Adel Hamed, and the Chairman and CEO of IPTO, Manos Manousakis, signed the agreement.

This agreement is a testimony of the strategic cooperation between Telecom Egypt and Grid Telecom. It comes in line with Telecom Egypt's strategy of strengthening its infrastructure, expanding its international network, and increasing its entry points to Europe by providing an eastern gateway via Greece through the new subsea system. The system will connect Port Said in Egypt to Crete island--making it the shortest, lowest latency, Mediterranean path between Egypt and Europe, extending northwards to the Balkans region and adjacent important destinations in Central and Western Europe, and southwards to the Arabian Peninsula and other regions in Africa and Asia. This also reinforces Egypt’s strategic position as an international telecommunications hub linking the East and West.

Earlier this year, Telecom Egypt and Grid Telecom signed a strategic Memorandum of Understanding, which set the ground for the exploration of different connectivity options between Greece and Egypt--through existing and future optical fiber links. This was followed by the signing of a Heads of Agreement to build this new subsea system extending the mutual international reach to neighboring countries.

Telecom Egypt, Egypt’s first integrated telecom operator, signed an agreement with the "LUMEN" US to create LUMEN's first regional focal point in Egypt to provide Internet services to telecommunications companies in Egypt, Africa, Asia and the Middle East, in partnership with Telecom Egypt and based on its distinct international network.

This was during an interview with Eng. Adel Hamid, Managing Director and CEO of Telecom Egypt, and Ms. Anita Murphy, the regional head of LUMEN, at the company's headquarters in London in the presence of a high-level delegation of the two companies.

On the sidelines of this visit, a joint cooperation between the two companies was discussed in the Arab region, Africa, Asia and the Middle East.

The service is expected to start in the first quarter of 2023. The selection of Telecom Egypt by LUMEN, as a strategic partner in the region reflects great confidence in Telecom Egypt advanced infrastructure which includes the RDH Regional Data Centre in the Smart Village in Cairo, which links to 14 marine cables, reaching 18 marine cables by 2025 spanning more than 140 landing points in more than 60 countries around the world, as well as the data center in Alexandria.

LUMEN is one of the world's most important and largest Internet service providers Tier-1. Egypt's focal point is the first of its kind in Africa, Asia and the Middle East, making it a distinct step in improving the efficiency and quality of Internet services in Egypt, the region, Africa, Asia and the Middle East.

WE, Egypt’s first integrated telecom operator, signed a cooperation agreement with ValU, the leading purchasing and later payment platform (BNPL) To enhance the evolving lifestyle in the Middle East and North Africa, to provide product installment service to customers at WE branches. The agreement was signed by Mr. Mohamed Abu Taleb, the Executive Vice President of Commercial Affairs in Telecom Egypt, and Mr. Walid Hasouna, CEO of ValU.

Under this agreement, Telecom Egypt provides installment service for the products it offers at its outlets throughout Egypt for up to 60 months without a deposit. This confirms Egypt's desire to achieve the highest level of customer satisfaction and meet their evolving needs and facilitate their access to products and goods available at its branches.

Telecom Egypt, Egypt’s first integrated telecom operator, signed an agreement with the "LUMEN" US to create LUMEN's first regional focal point in Egypt to provide Internet services to telecommunications companies in Egypt, Africa, Asia and the Middle East, in partnership with Telecom Egypt and based on its distinct international network.

This was during an interview with Eng. Adel Hamid, Managing Director and CEO of Telecom Egypt, and Ms. Anita Murphy, the regional head of LUMEN, at the company's headquarters in London in the presence of a high-level delegation of the two companies.

On the sidelines of this visit, a joint cooperation between the two companies was discussed in the Arab region, Africa, Asia and the Middle East.

The service is expected to start in the first quarter of 2023. The selection of Telecom Egypt by LUMEN, as a strategic partner in the region reflects great confidence in Telecom Egypt advanced infrastructure which includes the RDH Regional Data Centre in the Smart Village in Cairo, which links to 14 marine cables, reaching 18 marine cables by 2025 spanning more than 140 landing points in more than 60 countries around the world, as well as the data center in Alexandria.

LUMEN is one of the world's most important and largest Internet service providers Tier-1. Egypt's focal point is the first of its kind in Africa, Asia and the Middle East, making it a distinct step in improving the efficiency and quality of Internet services in Egypt, the region, Africa, Asia and the Middle East.

Telecom Egypt (WE), Egypt’s first integrated telecom operator, signed a cooperation protocol with Beverly Hills for Cities & Resorts Management to provide integrated telecommunications services to Beverly Hills Compound. The agreement was signed by Mr. Mohamed Abu Talib, the Executive Vice President of Commercial Affairs in Telecom Egypt, and Mr. Karim Husseini CEO of Beverly Hills company.

Under this protocol, Telecom Egypt (WE) is to implement the technology infrastructure of the closed Beverly Hills Urban Project and the fiber-optic network supply required to deliver high-speed Internet to all residential, administrative and commercial units of the project to make all integrated telecommunications services including fixed phone, high-speed Internet, IPTV Internet broadcasting and other advanced telecommunications services available.

Telecom Egypt continues to expand the provision of International telecommunication services in the Middle East and sign an agreement with Orange Jordan to establish a new international route linking Iraq to Europe

Telecom Egypt, Egypt’s first integrated telecom operator and one of the largest subsea cables operators in the region, and Orange Jordan, the leading operator of integrated telecommunication services and a subsidiary of Orange Global Group, announced the signing of a strategic cooperation agreement to establish a new international route linking the State of Iraq to Europe across Egyptian and Jordanian lands.

The new track (CAB) CAIRO-AMMAN-BAGHDAD System is in line with the two companies' strategy towards expanding the delivery of the latest high-quality telecommunications services to operators in the Middle East region and specifically the Iraqi market depending on the distinct International distinguished structure of the two companies via multiple subsea cables. The two companies' networks will be integrated to provide high-quality, low-latency communications services through diversified and highly flexible routes to meet the growing demand for communications services in the Iraqi market.

The CAB system is expected to enter service during the third quarter of 2022 and once launched will be the most advanced fast track connecting Iraq to Europe, depending on Telecom Egypt’s infrastructure and Orange Jordan.

Telecom Egypt (WE), Egypt’s first integrated telecom operator, signed a cooperation protocol with "Everest for Real Estate Development", to provide integrated telecommunications services in its administrative and commercial projects, notably the Bureau 58 Business Park project and the ZIA project. The agreement was signed by Mr. Mohamed Abo Taleb; the Executive Vice President of Commercial Affairs in Telecom Egypt, and Eng. Khaled Abdelsamie; the CEO of Everest for Real Estate Development.

According to this protocol, Telecom Egypt|WE is to execute the technological infrastructure of the Bureau 58 Business Park project and the ZIA project and extends the fiber-optics network required to supply high-speed Internet to all project administrative and commercial units of both projects, aiming at providing all integrated telecommunications services including landline, high-speed Internet services, IPTV and other sophisticated telecommunications services.

Consolidated revenue landed at EGP 20.4bn, up 17% YoY, mainly attributed to an 18% spike in retail revenue and 16% increase in wholesale revenue due to higher data, infrastructure, and capacity sales.

Customer base grew YoY on all fronts, with fixed voice and data subscribers increasing by 10% and 13%, respectively. Mobile customers increased by 44%, which included 3.6mn additional subscribers comprising 2.1mn related to the schools project and social solidarity initiatives.

EBITDA amounted to EGP 8.1bn, recording a strong 40% margin due to an improved revenue mix

Net profit came in at EGP 3.8bn; excluding non-operational items, it reached EGP 4.1bn, recording a 16% YoY growth, thanks to the robust operational performance, higher Vodafone investment income, and lower interest expense, which all together overshadowed the 27% increase in D&A costs.

Net operating cash flow landed at EGP 8.3bn, representing 103% of H1 2022 EBITDA.

In-service capex/sales recorded 14%, while cash capex/sales recorded 39% (31% excluding spectrum fees), landing at EGP 8bn.

Net debt to annualized EBITDA reached 1.1x down from 1.2x in Q1 2022, with total debt down 6% QoQ.

H1 2022 FCFF organically reached EGP 0.6bn (noting that FCFF would reach EGP 1.8bn after considering the dividends received from Vodafone Egypt in July 2022).