Safaricom Plc

FY25 INVESTOR PRESENTATION

9th May 2025

C2 - Safaricom Internal
 Disclaimer

The following presentation is being made only to, and is only directed at, persons to whom such presentations may lawfully be
communicated (“relevant persons”). Any person who is not a relevant person should not act or rely on this presentation or its contents. This
presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite,
subscribe for or otherwise acquire securities in the Company. The presentation also contains certain non-GAAP financial information.

The Group’s management believes these measures provide valuable additional information in understanding the performance of the
Company’s businesses because they provide measures used by the company to assess performance. Although these measures are
important in the management of the business, they should not be viewed as replacements for, but rather as complementary to, the
comparable GAAP measures. All growth rates quoted are year-on year and refer to the year ended 31 March 2025 compared to the year
ended 31 March 2024, unless stated otherwise.

Statements contained herein that contain projections or are forward looking and that relate to, among other things, the strategies, outlook,
future events and performance guidance of Safaricom PLC, are not guarantees of the Company’s future operating or financial results and
involve certain unforeseeable risks and assumptions.

Safaricom PLC undertakes no obligation to publicly update or revise any statements or information unless to the extent required by law.
Safaricom, M-PESA and Safaricom/M-PESA logos are trademarks of Safaricom PLC. Other products and company names mentioned herein
may be the trademarks of their respective owners.

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 Agenda

01 Brand & Purpose

Update 02 Recap of the Past
5YR-Strategy Cycle

03 Vision 2030
Update 04 FY25 Operating Review
Kenya & Ethiopia

05 FY25 Group
Performance 06 Outlook &
FY26 Guidance

3
 Business Overview,
Purpose & Strategy
Update

Dr. Peter Ndegwa, CBS

Chief Executive Officer

4
 01

Safaricom
Kenya
Brand & Purpose

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 M-PESA @18 | Revolutionizing Kenya’s Financial Landscape

Supporting Capacity to support

Launched in +35Mn +200
55k Integrations, 4,500 transactions
March 2007 Customers IMT Corridors
+100k Developers per sec

Driven Formal Financial >8% Contribution +1Mn p.a Jobs Sustained

Inclusion to 84.8% in 2024 To GDP growth in Kenya through the Eco-system;
from 19% in 20061 as of 20232 Dealers Agents, Developers3

Sources;
1FinAccess Household Survey Report by CBK,
2The State of the Industry Report 2025 by GSMA
3Safaricom True Value Assessment by KPMG from annual Sustainability Reports on our Website

66
 M-PESA @18 video

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 Our Awards & Recognitions in the Year

Overall Marketing Company of

Top Employer in Kenya the Year
and Africa for the fourth

PEOPLE

BRAND
year running Best Sports Marketing Campaign
for Chapa Dimba Na Safaricom
Awarded by The Top
Employer Institute (TEI). Awarded by Marketing Society
of Kenya

Most Inclusive Corporate FiRe Awards

DIVERSITY & leader by National Council Winner – Integrated Reporting

REPORTING
INCLUSION for Persons with Disabilities
(NCPWD) 1st Runners–up Industrial,
Commercial and Services
Best Most Inclusive Listed category
Company – 5th time in a row
awarded by Daima Trust Awarded by FiRe awards by ICPAK

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 Our Foundations| Invested KShs 18.4Bn, Impacting 13Mn Lives in the Past 5 Years

Education
Total Investment: KShs 12.4Bn
Total Reach: 1.1Mn beneficiaries

Health
Total Investment: KShs 3.6Bn
Total Reach: 10.3Mn beneficiaries

Humanitarian Response
Total Investment: KShs 0.8Bn
Total Reach: 232k beneficiaries

Environment, Water & Livelihood

Total Investment: KShs 1.4Bn
Total Reach: 1.4Mn beneficiaries

Other Programmes

Total Investment: KShs 0.2Bn

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 Our Culture | Beliefs and Behaviours Guiding Safaricom Spirit

PURPOSE CUSTOMER OBSESSION

 BELIEF – I am an extreme owner  BELIEF – Our customers’ perception

 BEHAVIOUR – I step in to resolve the is their reality

real issue for the best impact  BEHAVIOUR – I feel and act on our

OUR
customers’ pain

CULTURE
COLLABORATION INNOVATION
 BELIEF – Be real  BELIEF – Progress over perfection
 BEHAVIOUR – I seek to understand  BEHAVIOUR – I learn and improve
without judgment for co-creation as we execute

ZERO HARM, GETTING IT DONE TOGETHER,

NO ONE GETS HURT, I DO THE RIGHT THING
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10
 02

Safaricom
Group
Strategy Recap;
The Past 5 Years

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 OUR 5-YR Strategy| Commercial Execution over the Past 5 Years with Notable Outcomes

Mobile Connectivity M-PESA/FS

 Value & Velocity – 3X Transaction value,
 2X growth in mobile data revenue 4X volume,10.4X free transactions
 Stable voice business (58.4% growth in usage)  Footprint acceleration (4X+ merchants,
 Stable ARPU growth despite price reduction 2X agents)
 Use of CVM and AI (personalized offers)  Growth beyond payments

Ethiopia
 Launched a greenfield operation
 Accelerated commercial momentum in Ethiopia

Enterprise & Public Sector Fixed

 Tech partner of choice for public sector
 Double homes passed and 4X homes
 Major programs in healthcare and connected
financial inclusion  #1 on customer share and experience
 4G/5G fixed wireless acceleration
 Beyond connectivity  Double digit growth

FY25 Vs FY20
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12
 03

Safaricom Group
Vision 2030

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 Vision 2030 | Group Strategy

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14
 Vision 2030 | Six Big Priorities Over the Next 5 Years

CONSUMER ENTERPRISE
• 4G+ device acceleration • Beyond connectivity
• Always on safe secure • Segment led execution
• Grow segmented & integrated propositions with
embedded loyalty
• Scale content & digital platforms

FS/M-PESA PUBLIC SECTOR

• Super app acceleration – Intuitive AI driven • Digitization partner of choice for public sector
• Innovative payment use cases • 3-4 large sectors fully digitized
• Beyond payments- credit/ savings/ insurance
• Enable enterprise & public sector

FIXED ETHIOPIA
• 1Mn+ homes and businesses connected • Establish M-PESA use cases
• Always on broadband (fiber, wireless, satellite) • Scale business (Customers, Coverage)
• Sustainable funding
• EBITDA positive by FY27

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15
 04 (a)

FY25 Operating
Review

Kenya

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 Kenya Operating Environment | Stable Macros With Some Potential Risks

Macro Tailwinds & Headwinds Regulatory & Industry Customer Insights

Tailwinds Tailwinds Tailwinds

• GDP growth slowdown; +4.8% in 2025 (IMF) • Great support & collaboration with the • Declining food prices
• Stable inflation rates; 3.6% Mar 2025 regulators; CBK, CA • Improved fuel prices
• Stable Kenyan Shilling
• Easing monetary policy Headwinds Headwinds
• Regulatory shifts on horizon (MTR, Infra • Disposal incomes under pressure
Headwinds Sharing, Satellite, National Payment Switch, • High energy tariffs
• Increased fiscal pressure Agent Interoperability) • Demand for more value
• High interest rates • Increased regulatory pressure • Uncertain tax regime
• Shrinking private sector credit growth, high NPLs

GDP Growth Remains Resilient (%) Stable Inflation Rate (%) Stable Kenya Shilling (USD/KES)
160.8
5.9 5.8
5.5 5.6 156.5
5.0 6.9
4.6
4.0 6.6 5.7
4.6 131.8 129.5 129.2 129.3 129.3
3.6 3.6
3.0

1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24

Source; KNBS Source; CBK Source; CBK

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17
 Current Shape of the Kenya Business

#1 GSM Market Share* 98% 30% Population

+23Mn
covered
Telecom operator
in Kenya 66% 4G 5G by our network 4G+ Devices

37Mn 36Mn 1.9Mn+ 299k 694k

30-day Active 30-day Active M-PESA Merchants Active M-PESA Homes
Customers M-PESA customers (Medium, small & micro) Agents Passed

5G 18,300 Km 70+ 75%

1.1Mn Fibre Optic Footprint
AI/ML Models in
Agile implementation
customers Production

PURPOSE: BIGGEST BRAND AND SUPPORTER OF KENYAN SOCIETY

*Source; Communications Authority of Kenya.

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18
 What We Delivered in FY25

Strong Topline Growth TechCo Capabilities Purpose and Brand

• Consumer business growth • Agile structure ramp up to 75% • @24 years celebrations
above inflation of our business • M-PESA@18
• Double digit growth in FS • 2+1 skills transformation program • M-PESA Foundation@15

Customer First (enabled by AI) Big Data & AI

• Segment led execution- Emerald, • Scaled AI use cases - Cluster based
Shine, Enterprise Segments, S-Hook pricing, integrated propositions,
• Customer base acceleration (4G customer protection against fraud
Customers, 90-day customer base)

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 Consumer Business| Delivering for Our Customers, While Growing the Core

Customer Integrated Accelerating Digital

Segmentation Propositions 4G Penetration Content

• Driving meaningful • All in one • Open market partnerships to • Driving engagement for

connections, tailored • Make Your Bundle drive 4G devices penetration home and mobile

experiences & • Emerald Post Paid • Leveraging on the East Africa broadband customers

personalised propositions • Family Share Device Assembly to drive

affordability

Youth Strivers

Aspirers Achievers

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 Financial Services| Beyond Consumer Payments, Delivering Value for the Underserved

Payments Financial Services Digital Lifestyle Enabler

• Business & Consumer payments • Ziidi (1.5Mn opt-ins) • Business & Consumer app activity
powering growth of the core • Device insurance (411k Policies) growth
• Merchants- Pochi & Lipa na • M-Ratiba (2Mn Customers) • Scaled API Integrations
M-PESA (LNM) • Credit solutions- Fuliza, Merchant • Increased developers (106k)
• Global Payments Term loans & Merchant Overdraft

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 Enterprise Business & Public Sector| The Digitisation Partner of Choice

Public Sector Digital Transformation

Enabled Government Revenue Collections, Universal
Safaricom Grow Health Coverage & Deepening Financial Inclusion
Business Brand

Hustler Fund Inua Jamii - Government

KShs 14.2Bn Cash Transfer
Disbursed, 20.6Mn 1.7Mn Beneficiaries,
Customers KShs 4.3Bn Disbursed

ICT & Cloud

52% growth
in revenue Fertilizer Subsidy Women Empowerment
8.5Mn Fertilizer bags Groups
Redeemed, KShs 0.9Bn Disbursed,
to 6Mn Farmers 2Mn members

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 Fixed Business| Accelerating Connections & Enhancing Customer Experience

Reach Experience Cost Optimization

Accelerating Introduced the first ever 1000Mbps Through low-cost

Broadband Penetration fibre solutions powered
Driving delight and value by AI
Expanded distribution to to customers
large retail chains through home clinics

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23
 04 (b)

FY25 Operating
Review

Ethiopia

C2 - Safaricom Internal
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 Ethiopia Operating Environment | Navigating Impact of FX Regime Reforms

Macro-Economic Regulatory/Industry Political/Security

Resilient
• Fundamentals as Reforms Take Root Industry Issues are Being Addressed Stable but Fragile

• Easing Inflation; 13.6% in Mar 2025

• Mobile Termination Rate reduction • Stabilizing security situation in Tigray
• Expected 2025 GDP growth of 8.4%
• IPO on 10% privatization of Ethiotel issued • Amhara still under state of
• IMF debt restructuring; foreign aid
disruptions
• Ethiotel declared a Significant Market emergency
Player (SMP)
• FX regime reforms ongoing, FX liquidity
• Market adjusting to forex regime reforms
challenge

Inflation Declining as 125.3 GDP Growth Rate (%)

Market Adjusts to FX Reforms (%)
121.4
110.5 8.4 8.1 8.4
7.2
28.7 28.2 6.1 6.3 6.4
23.3
17.2 16.1 17.0
13.6

56.1 56.7 57.6

2019 2020 2021 2022 2023 2024 2025F

Source; Ethiopia Statistical Service Source; Ethiopia Statistical Service Source; Bloomberg, IMF, World Bank

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25
 Community & Partnerships | Contributing to Ethiopia’s Digital Future

Education Partnerships Economic

Empowerment

• Donating laptops and routers • Partnerships with • Financial Inclusion for

to identified high schools in Government Small farm owners
different city regions and
administrations • Empowering local • Health Women
communities and SME’s Economic
• Digital talent marketplace Empowerment

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26
 FY25 Ethiopia Performance | Strong Commercial Momentum

Customers M-PESA Network People

8.8Mn, 2.4Mn,
+103.2% YoY +68.7% YoY
3,141 898
Sites Permanent Employees
90-day active- Total 90--day Active Customers

7.1Mn, 30-Day Active Sites Split

42k
95% 5%
+155.1% YoY 1,718 1,423 Ethiopians Expats
90-day active- Data Unified Merchants Own built Collocated

6.5GB, KShs 20.6Bn Value

& 164.6Mn 50% 591 307
+53.1% YoY Population Coverage Male Female
Per Mobile Data User Volume of transactions

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 05

FY25 Group
Performance
Highlights

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 FY25 Performance | Outstanding Performance for the Group

Total Revenue EBIT Net Income*

Safaricom +11.4% YoY +13.0% YoY +12.7% YoY

Kenya KShs 381.2Bn KShs 158.1Bn KShs 95.5Bn

Group Underlying
Performance +12.9% YoY +16.9% YoY +14.2% YoY
excluding impact of KShs 390.1Bn KShs 133.3Bn KShs 80.1Bn*
Birr depreciation & IAS29**

Group
+11.2% YoY +29.5% YoY +10.8% YoY
Performance
Reported KShs 388.7Bn KShs 104.1Bn KShs 69.8Bn

*Net Income excluding Minority Interest

**Based on constant currency

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29
 Financial
Performance
Kenya & Ethiopia
Dilip Pal
Group Chief Financial Officer

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 05 (a)

Kenya
Performance

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 Customers | Growing Customer Base in All Segments

Total Customers (Mn) M-PESA Customers (Mn)

37.1
35.8
+7.1%
YoY +10.5%
35.3 33.5 YoY
34.6 +6.0% 32.4 +4.1%
+4.6% YoY YoY
+0.9%
YoY YoY

FY24 H1 FY25 FY25 FY24 H1 FY25 FY25

Connectivity customers (Mn) Fixed Data Customers ‘000s

36.7 371.3
329.0
308.0
+7.1% +20.5%
YoY +18.4% YoY
+24.1% YoY
34.9 YoY

34.3 +6.0%
YoY
+4.6%
YoY

FY24 H1 FY25 FY25 FY24 H1 FY25 FY25

This represents one-month active customers

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 Service Revenue | Strong Growth Supported by M-PESA and Mobile Data
Contribution to Service Revenue Profile
Service Revenue (KShs Bn)
4.9%, Fixed
364.3 1.6 365.9 Data & IoT, KShs
329.8 18.0Bn,
+10.5% +10.9% 44.2%,
+12.9% YoY
YoY YoY Financial
+11.7%
Services,
YoY
186.8 KShs 161.1Bn,
177.5 FY25 +15.2% YoY
50.8%,
+12.9% +8.2% Connectivity
YoY YoY
Business,
KShs 185.2Bn,
+6.5% YoY
H1 FY25 FY25 FY25
FY24 H2 FY25 MTR Impact* (Underlying)

4.8%
Fixed Data & IoT,
Contribution to Service Revenue Growth KShs 15.9Bn 42.4%
+11.8% YoY Financial Services,
10.5%
KShs 139.9Bn,
+19.4% YoY
5.7% FY24
4.8%
52.7%
Connectivity
Business,
KShs 173.9Bn
Revenue Customer ARPU +6.2% YoY
Contribution Contribution

*Mobile Termination Rates (MTR) changes from KShs 0.58 to KShs 0.41 effective 1 March 2024.
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 M-PESA | Strong Performance Driven by Consumer & Business Payments
Contribution to M-PESA Revenue
M-PESA Volume (Bn)*
2.4%, Global
37.2 +29.5%
Payments, 5.2%, Financial
YoY
KShs 3.9Bn, Services, KShs
+12.1% YoY 8.4Bn, +5.7% YoY 28.7
15.5 +29.3%
YoY
Chargeable 12.0
30.2%, Business
KShs
Payments, 161.1Bn
KShs 48.6Bn, +29.7%
+15.2% Non- 21.7 YoY
+27.4% YoY 39.1%, 16.7
YoY Chargeable
Consumer
Payments,
23.1%, Withdrawals, KShs 63.0Bn, FY24 FY25
KShs 37.2Bn, +19.7% YoY
-1.3% YoY
M-PESA Value (KShs Trn)*
38.3 +1.6%
37.7 YoY
Chargeable transactions per Take rates on
customer per month M-PESA transactions
Chargeable 22.7 +14.9%
26.1
YoY
Chargeable Total
+20.3% YoY 62bps 39bps Non-
37.9 +1.2% YoY 15.0 -18.7%
+12.5% YoY Chargeable 12.2 YoY

FY24 FY25
*FY24 numbers restated to exclude operational/backend transactions

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34
 M-PESA Growth Acceleration | Key Growth Drivers in the Ecosystem
Customers (Mn) Merchants Revenue (KShs Bn)
FY24 FY25 FY24 FY25
+44.2% +20.5%
1.8 +4.4%
Acceleration

+10.1% 9.8
Payments

+81.7% 8.1
1.3 1.3 7.3 7.6
1.1 1.2
+6.8%
+165.3%
0.6 0.7 0.6
2.2
0.8

LNM* Pochi* Total Merchants* IMT LNM* Pochi* Total Merchants*

Wealth Management
Insurance
+419.9%
AUM** Revenue +239.5%
(KShs Mn)
New Growth

(KShs Bn)
9.6 45.5
Areas

411k KShs 3.3Bn

Policies Issued Sum Insured
13.4
1.9

FY24 FY25 FY24 FY25

*Total Merchants is a summation of Lipa na M-PESA (LNM) and Pochi (MSME Business Wallet)
35
35 **Assets Under Management (AUM)
 M-PESA Acceleration | Credit Portfolio Recovery Supported by Growth in Customers
Total Credit Customers (Mn) Total Values (KShs Trn) Total Revenue (KShs Bn)

+21.4% +5.1%
+17.4%
Overall Credit*

8.1
Performance

2.2 7.7
13.1
12.8 1.9 +6.0%
+18.1% +15.7%
YoY
1.2 3.9 4.2
1.0
11.2 +26.7% -1.0% +9.3%
+8.0% YoY YoY
-5.0% YoY
YoY
YoY

FY24 H1 FY25 FY25 FY24 H1 FY25 H2 FY25 FY25 FY24 H1 FY25 H2 FY25 FY25

Fuliza Customers (Mn) Value (KShs Trn) Revenue (KShs Bn)

+12.0% +17.7% +5.6%

7.9 1.0 4.1
3.9
Fuliza

0.8 +11.9%
+18.2%
7.5
-0.0% 0.5 2.2
0.4 1.9
7.1 YoY
+15.8%
+7.3% +28.2% -3.9%
-13.2% YoY
YoY YoY YoY
YoY

FY24 H1 FY25 FY25 FY24 H1 FY25 H2 FY25 FY25 FY24 H1 FY25 H2 FY25 FY25

*This includes; Fuliza, M-Shwari, KCB M-PESA, H-Fund, Merchant Term Loan & Overdraft, Timiza, M-Kopa & Bloom

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 M-PESA Super Apps | Positioning M-PESA as a Lifestyle & Business Platform of Choice

Consumer Business
App App

Downloads 13.7Mn 1.3Mn

Customers Merchants
Active
4.7Mn, +29.5% YoY 301k, +111.5% YoY

Value of
KShs 2.3Trn, +16.1% YoY KShs 896.2Bn, +77.3% YoY
transactions

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 Connectivity Business | Mobile Data Powers Connectivity Business

Connectivity Revenue Contribution

Connectivity Business Revenue (KShs Bn)

185.2 Voice Mobile Data

173.9 43.6% 39.4%
KShs 80.8Bn KShs 72.9Bn
+6.2% +6.5%
YoY YoY +1.6% YoY +15.2% YoY

91.3 93.9
+3.4% Messaging Mobile Incoming
+9.8%
YoY
YoY
6.7%, 4.2%,
KShs 12.5Bn KShs 7.9Bn
+1.6% YoY -4.8% YoY

FY24 H1FY25 H2 FY25 FY25

Content Others*
Connectivity Business Revenue (KShs Bn)
1.3%, 4.7%,
KShs 2.4Bn KShs 8.8Bn
+53.3% YoY -3.6% YoY

*Others – SMS Wholesale, Visitor and Airtime Credit (Okoa Jahazi) revenue

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38
 Mobile Data| Double Digit Growth Driven by Increased Usage

Mobile Data Revenue (KShs Bn) Customers and 4G+ Devices continues to grow
72.9 +19.4%
63.2 +33.3%
+15.2% 27.4
+18.0% YoY 24.7
22.9 23.4
YoY 20.1
37.3 +18.1% 17.5
35.6
+20.2% +10.9% 11.9
YoY YoY 10.0 10.9

FY24 H1 FY25 H2 FY25 FY25 Data customers using >1GB (Mn) No. of Smart Phones (Mn) Active 4G+ Devices (Mn)

FY24 H1 FY25 FY25

Sustained Usage Growth as Rate Stabilizes

6.40 6.39 6.19
6.00 -3.3%
YoY

4.41 4.22 +13.9%

3.70 4.02
YoY
63% +20.9%
4G+ Penetration Integrated Bundle
on overall 30-day base Revenue contribution
FY24 H1 FY25 H2 FY25 FY25

Average GBs per user Rate per MB (Cents)

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 Fixed Service | Solid Growth Driven By improved value Propositions and Engagements

Fixed Service Revenue (KShs Bn) Customers (‘000)

17.1 301.5
Home Fixed
15.1
+12.9% 262.9
+12.0% YoY 248.6 +21.3%
YoY YoY
+17.8%
+27.0% YoY
8.5 8.6 YoY
+14.7% +11.3%
YoY YoY

FY24 H1 FY25 H2 FY25 FY25

FY24 H1 FY25 FY25

Contribution to Fixed Service Revenue
Enterprise Fixed
7.5%, Data Wholesale , 69.9
44.3%, Consumer, 66.2
KShs 1.3Bn, 59.5
KShs 7.6Bn,
-7.1% YoY +17.5%
+16.6% YoY +20.8%
YoY
KShs 17.1Bn +13.1% YoY
+12.9% YoY YoY

48.2%, Enterprise,
KShs 8.2Bn, FY24 H1 FY25 FY25
+13.4% YoY
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40
 Costs | Navigating a Complex Operating Environment With Addressable Opportunities

Operating Costs (KShs Bn) Direct Costs (KShs Bn)

83.2 85.7
68.1
15.7%
59.5 15.7%
14.4%
13.3%
12.5%
11.0% 43.8
36.6 41.9
7.2%
31.5
7.6%

3.6%
-0.1% 3.0%
-0.7%

FY24 H1 FY25 H2 FY25 FY25 FY24 H1 FY25 H2 FY25 FY25

Direct costs excl. handset costs YoY % Growth Excl. Handset Costs
Opex YoY % Growth
YoY % Growth Incl. Handset Costs

17.9% 71.8%
Opex Intensity Contribution Margin

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 Free Cash Flow & Debt | Healthy Net Debt to EBITDA Driven by Strong Cash Flow

Free cashflow (KShs Bn)

89.9 Net Debt (KShs Bn)
76.1 +18.2%
YoY
+15.7%
YoY 51.3 FY24 H1 FY25 FY25
+73.2%
YoY

Cash & Cash Equivalents 21.3 23.0 15.9

FY24 H1 FY25 FY25

Short term borrowings (39.8) (34.5) (39.5)
Interest Cost (KShs Bn)
10.6 10.5
Long term borrowings (36.1) (46.2) (40.5)
+45.3% +12.5%
YoY YoY

6.1 Net Debt (54.6) (57.7) (64.5)

+26.1%
YoY
Net Debt/EBITDA Ratio 0.29 0.28 0.31

FY24 H1 FY25 FY25

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42 *Net Debt/EBITDA ratio is calculated on annualized EBITDA
 Kenya | Stellar Performance Supported by Great Strategy Execution

Service Revenue EBITDA EBIT

+10.5% YoY +10.1% YoY +13.0% YoY
KShs 364.3Bn KShs 205.8Bn KShs 158.1Bn

Net Income Operating Free Cash Flow

+12.7% YoY +15.8% YoY
KShs 95.5Bn KShs 148.9Bn

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 Financial KPIs | Improved Margins Over the Past 5 Years

FY20 FY23 FY25

Contribution Margin 70.8% 69.9% 71.8%

EBITDA Margin 52.7% 51.9% 54.0%

EBIT Margin 38.7% 37.6% 41.5%

OPEX Intensity 18.2% 17.5% 17.9%

CAPEX Intensity 13.7% 13.1% 13.7%

ROCE 67.7% 65.0% 55.1%

Net Debt to EBITDA - 0.35 0.31

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 05 (b)

Ethiopia
Performance

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 Customers | Accelerated Customer Growth Momentum in FY25

90-Day Active Customers (Mn)

Overall Customers Mobile Data Voice

7.8
8.8 7.1

2.2x
2.0x 2.5x 5.2 YoY
6.1 4.9
YoY YoY
4.4 3.5
2.8

FY24 H1 FY25 FY25 FY24 H1 FY25 FY25 FY24 H1 FY25 FY25

Messaging
4.8 M-PESA
2.4

3.1
2.6x
YoY 1.7x
1.4
1.2 YoY
1.8

FY24 H1 FY25 FY25 FY24 H1 FY25 FY25

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 Usage & ARPU | Encouraging Usage as we Drive Higher Penetration

Voice Mobile Data Messaging

Minutes of Use per Sub Data GBs per User SMSs Per User
127.3 6.6
Usage*

6.5 18.5
97.2
1.8x 4.2 1.5x 17.9
70.6
YoY YoY 17.3 1.0x
YoY

FY24 H1 FY25 FY25 FY24 H1 FY25 FY25 FY24 H1 FY25 FY25

Voice Mobile Data Messaging

22.8 120.3
112.7
ARPU in ETB*

15.6 16.5
81.1
3.1
2.4
1.5

FY24 H1 FY25 FY25 FY24 H1 FY25 FY25 FY24 H1 FY25 FY25

*per one-month active customers

47
47
 Service Revenue | Solid Growth Driven by Mobile Data

Service Revenue Growth Drivers (KShs Bn) Contribution to Service Revenue

0.2 0.1 8.9
0.4
2.8 4.6%, Others*,
KShs 0.41Bn,
+65.4% +119.3% YoY
5.4
YoY

4.9%, Mobile
Incoming,
KShs 0,43Bn, KShs 8.9Bn
+30.2% YoY +65.4%
FY24 Mobile Data Voice Others* Mobile Incoming FY25 YoY
75.4%,
Service Revenue (ETB Mn) Mobile Data,
KShs 6.71Bn,
6.9 71.7% YoY
15.1%, Voice
KShs 1.34Bn,
4.6 +238.9% +40.9% YoY
YoY

2.0 2.3

FY24 H1 FY25 H2 FY25 FY25

*Others – M-PESA Revenue, Messaging Revenue, Fixed Line, Wholesale & Transit Revenue
and Other Mobile Service Revenue
48
48
 Ethiopia| Funding & Capex Status

As at As at
USD Mn
31 March 2025 31 March 2024

Equity 2,048* 1,626

5Yr CAPEX
Local currency debt 105 134
Plan
Shareholder loan 18 - USD 1.0 – 1.3Bn

IFC debt 100 100

Spend to FY25
(4YR Capex)
Total funding 2,270 1,860
USD 1.2Bn (4Yrs)
Deferred vendor payables 194 301

*Safaricom PLC funding contribution is USD 1,058Mn

Shareholders & their respective shareholding of Global Partnership for Ethiopia B.V (GPE), the investment vehicle to Ethiopia; Safaricom PLC (51.67%),
Vodacom Group (5.74%), Sumitomo Corporation (25.23%), British International Investment (formerly CDC Group PLC) (10.11%) and IFC (7.25%)

49
49
 Ethiopia | Improved Underlying Performance from Commercial Momentum

All numbers are in KShs FY25 Performance*

Without Birr
Reported FY24 Reported*
Depreciation Impact
Birr
Depreciation
EBITDA -8.8Bn -43.0Bn -21.4Bn Impact at Net
Income
Excluding Minority
EBIT -24.9Bn -61.1Bn -45.0Bn Interest

KShs 20,516.0Mn
Net Income
Excluding Minority Interest
-15.5Bn -36.0Bn -25.6Bn

Mitigating
Birr Depreciation Contract Industry Data
Insourcing
Renegotiations & Voice Pricing
Impact

*Numbers exclude IAS29

50
50
 05 (c)

SAFARICOM
GROUP
PERFORMANCE

C2 - Safaricom Internal
51
 CAPEX | Sustained Investment to Support Expansion in New Growth Areas

Group CAPEX Evolution (KShs Bn)

96.1 93.5 91.3

Kenya Ethiopia* Group
KShs 52.1Bn KShs 39.2Bn KShs 91.3Bn
55.8 52.1 +10.2% YoY -15.3% YoY -2.4% YoY
49.8 46.3 47.3
39.3 40.4 39.2

10.4 CAPEX
Intensity 13.7% 416.6% 23.4%
FY22 FY23 FY24 FY25

Ethiopia Kenya Group

FY25 Capex Split - Kenya FY25 Capex Split - Ethiopia

2.4Bn, Core Network, 6.0%

0.9Bn, Operations, 1.7%

17.6Bn, Radio 2.5Bn, Transmission, 6.4%

Access, 33.8%
17.1Bn, IT Capex,
32.9%
2.9Bn, IT Capex, 7.4%
27.1Bn, Radio
Access, 69.0% 0.7Bn, Operations, 1.8%
4.2Bn, Fixed 3.1Bn, Core
Network, 8.0% Network, 5.9%
2.9Bn, Other Network 6.3Bn, Transmission, 3.7Bn, Other Capex, 9.4%
Mobile, 5.6% 12.1%

*Safaricom Ethiopia Capex includes Birr depreciation impact

52
52
All numbers are in KShs
 Group Net Income | Great Performance Despite Ethiopia Forex Impact

95.5

+12.7% 80.1
-15.4
YoY
10.2 69.8
+35.3%
YoY 59.6
-20.5
+10.8%
YoY
+0.7%
YoY

FY25 Net Income ET Net Performance FY25 Group Birr Depreciation FY25 Group IAS 29 Impact* FY25 Group
Kenya Excl. Birr Depreciation* Underlying Impact* Net Income Net Income*
& IAS 29 Net Income* Excl. IAS29*

*Excluding Minority Interest

53
53
 Group | Resilient Performance For The Group

Group
Kenya Group Reported
Constant Currency*

H1 FY25 H2 FY25 FY25

Service Revenue +10.5% +13.1% +8.7% +10.8% +12.2%

EBIT +13.0% +1.8% +22.8% +29.5% +16.9%

Net Income
+12.7% -17.7% +44.6% +10.8% +14.2%
Excluding Minority Interest

*Group% YoY Constant Currency excludes IAS 29 & Birr depreciation rate reforms impact

54
54
 FY25 Group Performance

Safaricom Safaricom Safaricom Safaricom Safaricom Safaricom Group % YoY

Constant Currency
Kenya Ethiopia Plc Group Kenya Ethiopia Group (excl. IAS 29 & Birr
(KShs Mn) (KShs Mn) (KShs Mn) % YoY % YoY % YoY Depreciation impact)

Service Revenue 364,282.7 7,548.6 371,415.4 10.5% 35.3% 10.8% 12.2%

Total Revenue 381,196.8 7,908.5 388,688.9 11.4% 7.2% 11.2% 12.9%

Direct Costs (96,266.9) (5,230.3) (101,081.3) 7.2% -27.9% 4.2% 14.1%

Contribution Margin 273,870.9 2,530.8 276,461.6 11.1% >100.0% 12.1% 12.5%

Operating costs (68,088.3) (36,223.0) (104,310.7) 14.4% 52.3% 25.2% 11.5%

Earnings Before Interest, Tax,

205,782.6 (33,692.2) 172,150.9 10.1% 42.2% 5.4% 13.4%
Depreciation and Amortisation (EBITDA)

Depreciation, impairment & amortisation (47,636.8) (20,464.1) (68,100.8) 1.2% (43.0%) (17.9%) 7.6%

Earnings before Interest and Tax (EBIT) 158,145.8 (54,156.3) 104,050.1 13.0% -9.1% 29.5% 16.9%

Hyperinflation net monetary gain* 0.0 11,222.3 11,222.3 0.0% -49.8% (49.8%) (49.8%)
Profit/ (loss) after tax excluding
95,470.9 (25,718.4) 69,798.7 12.7% 18.3% 10.8% 14.2%
Minority Interest
Capex** 52,111.2 39,194.9 91,306.2 10.2% -15.3% -2.4%

*The gain in monetary position is as a result of the Ethiopian economy being declared as hyper-inflationary on and after 31 March 2024.
**Capex numbers exclude hyper-inflationary adjustments.
Average ETB/KShs exchange rate is at 1.304.
Safaricom Kenya numbers includes Kenyan subsidiaries. Safaricom Group is net of intercompany eliminations
55
55
 06

CONCLUSION
& FY26
OUTLOOK

C2 - Safaricom Internal
56
 In Summary | Outstanding Performance in FY25

Kenya Ethiopia Group

• Strong performance, with a solid exit as • Great results during a year marked • Solid Group performance as Ethiopia
we transition to our next 5-year strategy by significant currency reforms. becomes a key contributor.
cycle - Vision 2030.

• Encouraging commercial momentum • Vision 2030 strategy defined, and

• Growing Customer Base in all Market with acceleration in customer execution is underway.
Segments. acquisition.
• Our commitment to purpose
• Well defined customer segmentation to • Community impact acceleration as anchoring all that we do.
drive relevant offerings. we integrate into the fabric of
society. • Shareholder value and returns protected.
• Marked major milestones as we position
our transformational impact in the • 50% of the population now covered
country. with 4G.

57
57
 FY26 | Strategic Priority Areas

Drive delivery,
Deliver frictionless, Accelerate path
adoption and
safe and secure to profitability in
commercial scale
digital first customer Ethiopia
of Tech solutions
experiences 3
1 2

Defend and grow Living our

Enhance core market share Safaricom Spirit
our culture in GSM, Mobile including zero
and brand Money and harm culture
4 Broadband 5 6

58
58
 Dividends | Sustained Dividend Despite Birr Depreciation

FY25 Dividends
KShs 1.20
2023, 2024 & 2025 DPS,

Peak at KShs 1.39 in 2022 Interim Final Proposed

before entry into Ethiopia
KShs 22.04Bn KShs 26.04Bn
KShs 0.55 DPS KShs 0.65 DPS

KShs 612.12Bn
dividends paid to shareholders
from FY08/09 to FY23/24
including special dividends.
Total
KShs 254.82Bn
paid over the last 5Years FY25 KShs 48.08Bn
KShs 1.20 DPS

59
59
 FY26 Guidance | Safaricom Kenya, Ethiopia & Group

All numbers are in KShs Bn and exclude hyperinflationary impact (IAS 29)

Kenya Ethiopia* Group

EBIT 170 - 173Bn (26) – (23)Bn 144 - 150Bn

FY25 Actual 158.1Bn (61.1)Bn 97.1Bn

Capex 54 - 57Bn 18 - 21Bn 72 - 78Bn

FY25 Actual 52.1Bn 39.2Bn 91.3Bn

*Ethiopia Guidance Assumptions

•Mobile customers target of 15 - 17Mn 90-day customers,
•Target sites 3,800 in FY26

60
60
 Corporate Information

Registrars Investor Relations

Image Registrars Limited 5th Floor, Absa Plaza, Loita Street Safaricom House, Waiyaki Way, Westlands
P.O. Box 928-00100, Nairobi P.O. Box 66827-00800, Nairobi
Telephone: +254 709 170 000 Telephone: +254 722 00 6218/4233/4746
Email; Info@[Link] Email: investorrelations@[Link]
Website: [Link] Website: [Link]/investor-relations

Auditors Upcoming Updates

Ernst & Young Kenya Re Towers,
AGM: July 2025
Off Ragati Road
HY26 Results: November 2025
P.O. Box 44286-00100, Nairobi
Telephone: +254 20 2886000

Visit our website for more information [Link]

61
61
Thank You!

C2 - Safaricom Internal
 9th MAY 2024

Safaricom PLC
FY24 INVESTOR PRESENTATION
 Disclaimer
The following presentation is being made only to, and is only directed at, persons to whom such presentations may lawfully be communicated
(“relevant persons”). Any person who is not a relevant person should not act or rely on this presentation or its contents.
This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite,
subscribe for or otherwise acquire securities in the Company. The presentation also contains certain non-GAAP financial information.

The Group’s management believes these measures provide valuable additional information in understanding the performance of the
Company’s businesses because they provide measures used by the company to assess performance. Although these measures are important
in the management of the business, they should not be viewed as replacements for, but rather as complementary to, the comparable GAAP
measures. All growth rates quoted are year-on year and refer to the year ended 31 March 2024 compared to the year ended 31 March
2023, unless stated otherwise.

Statements contained herein that contain projections or are forward looking and that relate to, among other things, the strategies, outlook,
future events and performance guidance of Safaricom PLC, are not guarantees of the Company’s future operating or financial results and
involve certain unforeseeable risks and assumptions.

Safaricom PLC undertakes no obligation to publicly update or revise any statements or information unless to the extent required by law.
Safaricom, M-PESA and Safaricom/M-PESA logos are trademarks of Safaricom PLC. Other products and company names mentioned herein
may be the trademarks of their respective owners.

2
BUSINESS OVERVIEW
PURPOSE & STRATEGY
PETER NDEGWA, CHIEF EXECUTIVE OFFICER
KENYA OPERATING ENVIRONMENT | Sustained Resilience in the Economy Post COVID-19

Macro Tailwinds
& Headwinds Regulatory Customer Insights
Macro Tailwinds:
• Resilient GDP growth; +5.9% in Q3 2023 • Reduction in excise duty on Telephone and • Declining food prices
• Tapering inflation Rates; 5.7% March 2024 internet data services • Constrained consumer purchasing power
• Appreciating Kenyan Shilling in Q4 • Mobile Termination Rate (MTR) reduction • High cost of borrowing
• Sustained private sector credit growth • Housing levy introduction • High energy tariffs
Headwinds: • Increased excise duty rates - mobile money
• High interest rates transfer services
• Tightening monetary policy

GDP Growth Rate (%) Inflation Rate (%) USD/KShs Exchange Rate
10.3
9.4 8.6 9.2
6.2
5.2 5.3 5.4
5.9 7.9 8.0 7.9 132.3 131.8
4.3 7.3
6.7 6.8 6.9 6.8 6.9
4.6 3.7 6.6 6.3
2.4 5.7
2.0

3 3 3 3 3 3 3 3 3 3 4 4 4

ay 3
Ju 23

Ju 3
Au 23
Se -23
O 23
N 23
De -23

Ja 23
Fe 24
M 24

4
r-2 r-2 2 2 2 2 2 2 2 c-2 2 2 -2
y- n- ul- g- p- ct- v- n- b-

-2

-2

-2
a Ap De ar

r-

-
a Ju J Au Se No Ja Fe

l-

-
-

c-

-
O

ov

ar
M M

ar

p
ct

b
M

Ap
-4.1 -3.6

M
20

23
22

22

22

23

23
20
20

20

21

21

21

21

22
4

3
2

2
1
2

1
Q

Q
Q

Q
Q
Q

Source: KNBS Source: KNBS Source: CBK

4
OUR PURPOSE | Partnerships & Innovations to Transform Lives

Partnering for Impact

Our SDG Guiding Framework
Forward Faster Initiative
An initiative by United Nations Global
Compact (UNGC) to fast-track
achievement of the SDGs

Advocacy
•Africa Climate Summit
•Conference of the Parties (COP28)
The 9 SDGs
•United General Assembly (UNGA)
Integrated
•Global Refugee Forum
in Our
Operations
Africa’s Top 50 Companies in Sustainability
The 4th Africa Public Sector Conference and Awards

5
OUR PURPOSE | Decarbonising Our Societies Whilst Advancing a Circular Economy

ESG
Achievements
Environment (E) Social (S) Governance (G)

•1.5Mn trees grown, targeting 5Mn by 2025 •3.5Mn lives impacted by the Foundations in •Board Diversity: Male 55%; Female 45%
•23% Solar energy mix, with 1,456 solar sites FY24 •Risk management framework is aligned to
•25% Scope 1 & 2 emissions reduced since the International Risk Management Stand-
•Diversity & Inclusion; 41.8% women in
2017 ard ISO 31000
•Net Zero by 2050 (Science Based Targets leadership
•100% compliance to both industry and
initiative (SBTi) validated) •3.4% of workforce are PwDs
environmental regulations
•98% recycling rate on solid waste from •51% Male vs 49% Female staff overall
facilities •80% of our suppliers signed up to the Code of
•Zero Fatalities reported in FY24
•100% elimination of single use plastics Ethics for Businesses in Kenya
•5.85 % of our procurement spend going to
local marginalized groups

*Numbers are as at 31 Mar 2024

6
OUR STRATEGY | FY24 was the Penultimate Year

FY24 Focus was: To Scale Tech Solutions in order to

be a Purpose-Led Technology
Company by the end of 2025 Transforming lives
Purpose
Vision To be a purpose-led Technology Company

Transformation Goal A digital-first, insights-led organisation that enables platforms and ecosystem partnerships
FY23 Focus was: To accelerate new growth Areas
delivering superior customer Deepen Customer Engagement & Experience
experience in order to be a
Purpose-Led Technology Company by
the end of 2025

Transformative
Pillars
Strengthen the core To be a financial Accelerate new Achieve cost
services provider growth areas leadership
FY21/22 Focus To establish a customer-obsessed,
was: digital-first organisation in order to
be a Purpose-Led Technology Company
by the end of 2025 Data & Analytics Network and IT M&A and Partnerships
Foundational
Enablers
Talent and Organization

We will exemplify being a Purpose-Led Technology Company by;

• Applying technology to simplify life,
• Making life more convenient,
• Linking People to people,
• People to knowledge and People to opportunities

7
STRATEGY EXECUTION HIGHLIGHTS | Strong Commercial & Execution Momentum

Performance Commercial Agile

progress
Momentum in Kenya in Ethiopia Acceleration
Mobile Data; M-PESA; Consumer Mobile Data usage; M-PESA Launch; 49% Agile; Level 3 agile maturity
Fixed; EBIT Growth Network rollout

Big Data Purpose and Public Sector

Acceleration Brand Digitisation
Fully set up the data engineers and Scaled up purpose spend and focus; Hustler Fund; Digital Health;
scientists center of excellence refreshed customer segmentation Agriculture

8
DIGITIZING KENYA | We are Enabling Ease of Access to Services

Financial Empowerment Program (Hustler Fund) Women Groups Empowerment

ï 21Mn Customers ï 77% Repayment rate ï 977k groups created
ï KShs 49.5Bn Disbursed ï 651k Groups enrolled ï 2Mn members
(cumulative) ï KShs 0.9Bn value disbursed

East Africa Device Assembly Kenya (EADAK) Digitizing Devolution

• Launched in Oct 23 ï 11 Counties on my county app
• Sold +360k devices, valued at KShs 21Bn ï 2 Counties on Integrated County
• Targeting 3Mn devices p.a. revenue management system (ICRMS)

Government Cash Transfer Wallet

• Launched in Jan 2024 ï KShs 1.2Bn disbursed
ï 253k Beneficiaries enrolled • Target 2Mn Beneficiaries by Sept 2024

9
CONSUMER BUSINESS | Improved Engagement and Performance Through Customer-centric Actions

Accelerated 4G+ Devices Consumer Segmentation driving Enhanced our Integrated

Personalization & Relevance Propositions
17.5Mn 4G+ devices on the network
4.5Mn youth on Safaricom hook platform accessing 30.3% growth in all-in-one plans following the
Open market support with mobile data bundles
propositions Go Monthly promotion
Over 1.3Mn customers supported with a device
Over 50% of base using Tunukiwa personalized Offers on integrated for as low as KShs 500
under lipa mdogo mdogo
offers, okoa (call completion), reverse call, bonga Delivered simple DIY post pay journey
Launched new neon smarta and neon ultra to
points (loyalty programme) innovations Use of Machine Learning to deliver
enable 4G affordability
Over 1K customers engaged in networking event on personalized offers
financial wellness

10
FINANCIAL SERVICES | Broadening Services Beyond Payments

Scaling Pochi la Biashara Technology & Platforms Partnerships & Collaborations

•Segmented solutions for •Capacity upgrade to support •Diversified partnerships to power

SMEs/MSMEs that addresses specific 3,500 transactions per sec on financial inclusion
value prepositions M-PESA
•Enhanced 3rd Party integrations
•Targeted marketing leveraging on •80k developers in our ecosystem through APIs ensuring optimized
Customer Value Management services
•Enhanced stability and reliability
(CVM)
to improve customer experience •Continued Government Partnerships

NI RAHISI KUPATA
M-PESA BUSINESS TILL
Send money to customers or employees directly
from your M-PESA Business Till.
Visit [Link] to apply today!

11
ENTERPRISE BUSINESS | Powering Growth and Innovation for Businesses

SME Digital Adoption Scaling Cloud & Security in Accelerated IoT Solutions
Large Enterprises
•Accelerated Cloud services adoption •Full stack cyber security including •Smart Water project (1.5Mn devices
(+13k SMEs) security operations center (SOC) connected)
•Secure internet connectivity (KifaruNet) •Integrated offerings; Hosted contact •Fleet management telematics solutions
driving customer growth centers, professional services, for fleet management & efficiency
•County Revenue System Launch in 2 unified communications & •Supported 8.5Mn farmers with 16Mn
counties driving 5x county revenue professional services fertilizer bags via eVoucher/M-PESA
growth

12
FIXED BUSINESS | Leveraged New Technology to Enable Broadband Access

Improved Home Value Drove affordability Simplified Journeys

Proposition
•Increased 4G data volumes by 55% •Reduced 5G entry router prices by 60% •Enhanced dealer partners sales portal

•Unleashed full 5G speeds of Home •Subsidized 4G router prices by 50% •Automated incident management process
5G to upto 300Mbps

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13
 OUR AWARDS | Recognition by External Stakeholders

Diversity & Inclusion

Brand
2023 Safaricom Women in
technology Award
Sustainability Awards
4th Edition of the Consumer Market Study of
by Institute of Electrical & Electronic Environment sustainability award by the United the Top 100 Most Loved Brands by Women in
Engineers (IEEE) Nations Environment Programme (UNEP) and Kenya, 2024
Kenya Private Sector Alliance (KEPSA) • M-PESA; No. 1
Most Inclusive Listed Company in • Safaricom PLC; No. 2
Kenya 2024
by Diversity, Inclusion Awards and
Recognition (DIAR) Loan Currency, Loan Deal of the Year; Payment Card Industry Data Security Standard
by Bonds, Loans & ESG Capital Markets Africa (PCI DSS) Certification
Awards

Best ICT Adoption in Supply Chain

by Kenya Institute of Supplies
Management (KISM) SPURS
Financial Reporting
FiRe Awards - ICPAK Top Employer
Various awards on Integrated Reporting, •3rd Best Employer in Africa Ranking by
Environmental & Social Reporting & Forbes
Governance •Top Employer Certification 2024 - Kenya &
Africa by the Top Employers Institute (TEI)

14
ETHIOPIA
 ETHIOPIA OPERATING ENVIRONMENT | Challenging Operating Environment in FY24

Macro-Economic Regulatory Political/Security

▪ Easing Inflation; 26.2% in March ▪ MTR reduction from ETB 0.31 to ETB 0.23 ▪ Stable security situation in Tigray
2024 from 1 May 2024 ▪ Amhara under state of emergency
▪ FX Liquidity pressure ▪ Revised mobile money limits, ETB 75k per ▪ Movement restriction in some
▪ Expected 2023 GDP growth of 6.1% daily account balance, ETB 150k daily Oromia region
transaction limit

GDP Growth Rate (%) Inflation Rate (%) USD/ETB Exchange rate
8.4

6.8 56.9
6.1 6.1 6.4
5.6 5.3
34.2 33.5
30.8 29.4 54.2
28.8 28.2 28.3 29.2 28.3 28.7 29.4 28.2
26.2

2018 2019 2020 2021 2022 2023E 2024F

3

3
3

4
23

23
M 3

M 4
24
23

23

Ja 3
Fe 24
M -24
Ap 3
M - 23

Ju 3

Ju 3
Au -2 3
Se 23
O 23
N 23

De 23

4
3
-2

-2
-2

-2
r-2

c-2

-2

2
l-2

-2
-2

2
(IMF) (World

g-

p-

b-
n-
n-

ct-

n-
-
c-
-
n-

g-
p-
ay

ov
ar

ar

ov
ay

ct
ar

b
ar
Ju
Ap

De
Au

Ja
Ju

Se

Fe
O
M

Bank)

M
Source: Bloomberg, IMF, World Bank Source: Ethiopian Statistical Service (ESS) Source: Bloomberg

16
 ETHIOPIA | Take Aways from the 2024 Investor Day

Opportunity remains
•2nd most populated country in Africa Evolving into a
•Very youthful population fully-fledged Ethiopia-run
•Low mobile and fixed penetration organization
•Rapid economic growth

Driving financial Focused on scaling sites,

inclusion via critical mass reach and
M-PESA cost efficiencies.

Positioning as the On track to meet our One customer & One

youthful brand of license obligations Trade for both GSM &
choice 55% by June 2024 M-PESA services

17
ETHIOPIA PERFORMANCE | We Achieved Key Milestones in FY24

4.4Mn 2.8Mn 4.3GB

Customers 90-day Active 90-day Active per Mobile Data User
Customers Data Customers (Mar exit at 6.2GB)

4.5Mn 62.7k KShs 24.5Bn

M-PESA Total Registered Active Merchants Value & 31.5Mn
M-PESA Customers & 25.8k Agents Volume of M-PESA transactions

Sites split
2,806 Own-built 1,466 38%
Network 2G/3G/4G Sites Collocated 1,340 Population Coverage

People 887 90% Ethiopians 63% Male

Permanent Employees 10% Expats 37% Female

18
 ETHIOPIA'S MEDIUM TERM BIG WINS | Strong Business Momentum From an International Brand

Strong data Superior

usage levels customer service
Our focus areas to get to the next
growth phase:
Building Scaling
•Accelerate monetization coverage M-PESA
momentum
•Grow quality subscribers
Penetrating the
•Accelerate M-PESA Penetration Youth Fastest data
Market network in Ethiopia
•Stable security environment

Strong Leveraging on our

distribution Partnerships
network to scale operations

19
FY24 PERFORMANCE
HIGHLIGHTS
FY24 PERFORMANCE | Outstanding Kenya Performance, Outperforming Group Guidance

Safaricom Kenya Performance Safaricom Group Performance

(Including Ethiopia)*

EBIT CAPEX EBIT CAPEX

139.9Bn
KShs KShs 47.3Bn 94.9Bn
KShs KShs 93.5Bn
Achievement +20.4% YoY Capex Intensity +3.5% YoY Capex Intensity
(FY23: +1.8% YoY) 13.8% (FY23: -16.0% YoY) 26.8%
(FY23: 13.1%) (FY23: 30.9%)

Guidance
(KShs) 129 - 132Bn 45 – 48Bn 87 - 93Bn 85 - 93Bn

Group Service Revenue** Group Net Income excluding

KShs 335.4Bn, Minority Interest**
+13.4% YoY KShs 63.0Bn, +1.2% YoY
*Group numbers are exclusive of hyper-inflationary
Adjustments on Ethiopia numbers
**Including IAS 29

21
FINANCIAL
PERFORMANCE
DILIP PAL, CHIEF FINANCE OFFICER
KENYA
PERFORMANCE
KEY HIGHLIGHTS | Excellent Results for Our Kenya Business

Service +11.7% YoY EBIT +20.4% YoY

Revenue KShs 329.8Bn
(+12.1% YoY adjusted for MTR)
KShs 139.9Bn

EBITDA +16.6% YoY Net +13.7% YoY

KShs 187.0Bn Income KShs 84.7Bn

Operating
Free +11.2% YoY
Cash Flow KShs 128.6Bn

24
SERVICE REVENUE | Strong Growth Driven by M-PESA & Mobile Data

Evolution of Service Revenue Profiles

Fixed Data & IoT
Service Revenue (KShs Bn) 4.8%
KShs 15.9Bn Financial
1.2 +11.8% YoY Services
329.8 331.0
42.4%
295.2 KShs 139.9Bn
+19.4% YoY
+5.0% +11.7% +12.1% Connectivity FY24
YoY YoY YoY Business KShs 329.8Bn
52.7% +11.7% YoY
172.6 KShs 173.9Bn
157.2 +6.2% YoY

+8.5% +14.8%
YoY YoY

Fixed Data & IoT

4.8% Financial
FY23 H1 FY24 H2 FY24 FY24 MTR Impact*** FY24 KShs 14.3Bn Services
(Adjusted +26.8% YoY 39.7%
for MTR) KShs 117.2Bn
+8.8% YoY
Connectivity
Business
FY23
55.5%
M-PESA Mobile Data Fixed Data Voice & Messaging Others* KShs 163.7Bn KShs 295.2Bn
+19.4% YoY +18.0% YoY +12.0% YoY -0.6% YoY +6.6% YoY +1.0% YoY +5.0% YoY
Contribution
to growth +7.7ppts +3.3ppts +0.5ppts -0.2ppts +0.4ppts

*Others - Voice Incoming, Visitor, Content, IoT and Airtime Credit (Okoa Jahazi)
**Others - Messaging, Mobile incoming & Visitor, Airtime Credit, IoT, Content
***Mobile Termination Rates (MTR) changes from KShs 0.99 to KShs 0.58 effective
1 August 2022. MTR Impact covers 5 months including KShs 0.41 from 1 Mar 2024

25
CUSTOMER FOCUS | Customer Engagement & Usage Drives Monetization

Rate* per MB
One Month Active Customers One Month Active ARPU
-4.6% YoY
6.4 cents,
4.6% 4.6%
10.7% -61.3%
843.2
(4-Year Change)
34.6 34.6
8.6%

814.8
Rate* per Min

-12.7% YoY
6.4%
2.5%
785.8
1.25,

33.3
-40.4%
33.1 3.5% (4-Year Change)
750.2
0.9%

M-PESA tariff

FY23 H1 FY24 H2 FY24 FY24 FY3 H1 FY24 H2 FY24 FY24

Up to 61% reduction
in P2P, Paybill & Banking
One month active customers (Mn) YoY Growth (%) One month active customer ARPU* YoY Growth (%)
transaction charges

*Average Revenue Per User (ARPU) and Rates are in KShs

26
M-PESA | Great Performance Post Return to Charging

Revenue (KShs Bn) ARPU (KShs)

378.4 361.3
139.9 344.1
117.2 311.3
+19.4%
YoY +1.9% +12.0% +20.0% +16.1%
73.7
+8.8% 66.2 YoY YoY YoY YoY
YoY +16.5% +22.1%
YoY YoY

FY23 H1 FY24 H2 FY24 FY24 FY23 H1 FY24 H2 FY24 FY24

Contribution to M-PESA Revenue

FY20 FY24

Global Payments,1.6% Financial Services, 5.6% Global Payments, 2.5%

Financial Services, 7.4%
KShs 1.3Bn, +52.3% YoY KShs 7.9Bn, -9.2% YoY KShs 3.5Bn, +20.0% YoY
KShs 6.2Bn, +>100% YoY

Business Payments, 21.6% Consumer Payments,69.5% Business Payments, 27.3% Consumer Payments, 64.6%
KShs 18.2Bn, +1.3% YoY KShs 84.4Bn KShs 58.7Bn, +8.8% YoY KShs 38.2Bn, +39.8% YoY KShs 139.9Bn KShs 90.3Bn, +15.4% YoY
+12.6%YoY +19.4% YoY

27
MPESA TAKE RATES | Driving Affordability to Ensure Inclusivity in Digital Payments

Consumer Payments Business Payments

112
41

108 30 31 30
106
105

FY23 H1 FY24 H2 FY24 FY24 FY23 H1 FY24 H2 FY24 FY24

Global Payments Financial Services

68 101
78 71 74
60 60 60

FY23 H1 FY24 H2 FY24 FY24 FY23 H1 FY24 H2 FY24 FY24

Total MPESA
79
62 61 62

FY23 H1 FY24 H2 FY24 FY24

All numbers in basis points (bps)
Take rates are based on chargeable transactions

28
NEW GROWTH AREAS | Expanding Merchant Network, Lending and Wealth Management

Revenue (KShs Bn) +4.3%

YoY
Tills
+38.2% 7.31 606.7 633.0 632.7
YoY
+116.2%
5.29 YoY

292.6
+239.7%
YoY 0.81
0.24

Lipa Na M-PESA (Bn) Pochi (Bn) Lipa Na M-PESA (000) Pochi tills (000)
FY23 FY24 FY23 FY24

Revenue (KShs Bn) Value (Bn)

218.8
3.52

32.5
+16.8%
0.32 YoY
+100.0%
+11.5% YoY
YoY
+100.0% 0.20
14.5
YoY
+243.6% +100.0% +100.0%
YoY YoY +156.7% YoY
YoY
0.01 1.9

Credit* Merchant OD Virtual Card Mali Credit* Merchant OD Virtual Card Mali

*Credit = M-Shwari, KCB M-PESA, Timiza, M-Kesho, M-Kopa, H-Fund

29
M-PESA | Growth Driven by Usage & Affordability

Chargeable Txns per One Month active customers M-PESA Value & Volume*
33.2 FY24 Value of FY24 Volume of
31.5 non-chargeable non-chargeable
29.8 +9.6%
transactions 43.5% YoY transactions 56.9%
23.5
+35.2% 40.2 +33.9%
36.7 YoY
YoY +33.9%
+32.6% 30.0
YoY 28.3
YoY
+16.2% 21.2
YoY 15.8

M-PESA Value (KShs Trn) M-PESA Volume (Bn)

FY23 H1 FY24 H2 FY24 FY24
FY22 FY23 FY24

M-PESA YoY Growth Chargeable M-PESA Value & Volume*

19.4% +52.5%
16.1% ARPU growth contribution YoY
27.4% 22.7 +45.6%
YoY
14.9
12.2
11.5
8.4
6.6
3.3% Rate Usage
-11.3%
Revenue Customer ARPU M-PESA Value (KShs Trn) M-PESA Volume (Bn)
growth growth
contribution contribution FY22 FY23 FY24

*Prior year numbers have been adjusted to include Fuliza

30
M-PESA SUPER APPS | Positioning M-PESA as a Lifestyle & Business Platform of Choice

Consumer Super App Business Super App

9.6Mn +30.6% YoY 1.5Mn +100% YoY

Downloads Downloads

40.5 Transactions 53.1Mn

3.6Mn +18.8% YoY 142.3k Active +3.7% YoY
Active customers per month per Merchants using the App Volume transacted
active customer via the App

KShs 11.3Bn >779.5Mn KShs 661.3Mn KShs 505.5Bn

+68.7% YoY +59.4 YoY +0.5% YoY +132.0% YoY
Revenue generated Transactions via the App, Revenue generated Value of Transactions
via the App value at KShs 2.0Trn via the App via the App

31
MOBILE DATA | Double-Digit Growth Driven by Customer Value Management Initiatives

Mobile Data Revenue (KShs Bn) Increased usage as 4G+* traffic continues to grow
+13.9% +12.9%
63.2 YoY YoY
53.6 +18.0% 22.9
21.3 22.3 +28.9%
19.6 20.3 21.4 YoY
+10.6% YoY
17.5
YoY 33.7 +13.4%
14.9
29.6 YoY 13.6
10.0
+12.5% +23.2% 8.9 9.2
YoY YoY

One month active Data No. of Smart Active 4G+

chargeable customers using Phones (Mn) Devices (Mn)
customers (Mn) >1GB (Mn)
FY23 H1 FY24 H2 FY24 FY24 FY23 H1 FY24 FY24

Mobile Data ARPU (KShs) Usage & Rate per MB

6.70 6.61 6.40
253.0 6.18 -4.6%
YoY

+1.9% 242.7
239.0 YoY +6.4%
YoY
231.9 +1.5% 3.57 3.75 3.83 3.79
+16.2%
YoY YoY
+0.8%
YoY FY23 H1 FY24 H2 FY24 FY24

FY23 H1 FY24 H2 FY24 FY24 Average GBs per user Rate per MB (Cents)

*4G+ includes both 4G & 5G

32
FIXED SERVICE | Enhanced Customer Engagement & Connections Supporting Growth

FTTH
Fixed Service Revenue (KShs Bn)
15.1
13.5 248.6 248.6
223.2
+12.0% 195.7
+20.0%
YoY 7.4 7.7 YoY 2,413
2,381
2,336 2,345
+9.1% +14.9%
YoY YoY
59.2% 61.4% 66.4% 66.4%

FY23 H1 FY24 H2 FY24 FY24

FY23 H1 FY24 H2 FY24 FY24 Closing customers ('000's) ARPU (KShs) Conversion Rate (%)

Contribution to Fixed Service Revenue Fixed Enterprise

Wholesale, 9.1%
KShs 1.4Bn 11.4 59.5 59.5
-2.4% YoY 11.1

54.7
FTTB, 48.0% 10.9
KShs15.1Bn KShs 7.3Bn 52.6
10.8
+12.0% YoY 1.6% YoY
FTTH, 42.9%
KShs 6.5Bn
FY23 H1 FY24 H2 FY24 FY24
+31.1% YoY

*Closing Fixed Data Customers ('000's)

**Fixed Enterprise ARPU (KShs '000')

33
VOICE & MESSAGING | Customer Value Propositions Enhancing Usage

Voice Revenue (KShs Bn) Messaging Revenue (KShs Bn)

12.3
80.9 79.5 11.4
+8.0%
-2.8% -1.7% +4.6% YoY
YoY YoY YoY 5.7 6.5
38.7 40.8
Revenue -0.5% +6.0% +9.8%
YoY YoY
YoY
-3.0%
YoY

FY23 H1 FY24 H2 FY24 FY24 FY23 H1 FY24 H2 FY24 FY24

+15.9%
Usage & Rate per Min YoY Usage & Rate per Message +15.6%
194.3 0.27 YoY
189.4 0.26
184.3
Usage & 1.44 191.6 0.25
-4.8%
-12.7%
Rate Per 163.4
1.28
YoY 0.23 184.6
182.4
YoY

1.25 180.0
Min/SMS 1.23

FY23 H1 FY24 H2 FY24 FY24 FY23 H1 FY24 H2 FY24 FY24

MOU per Sub* Rate per Min (KShs) Messages per Sub Rate per Message

Revenue ARPU
Connectivity Customers
Performance KShs173.9Bn KShs 422.7 34.3Mn
+6.2% YoY +1.5% YoY +4.6%YoY
FY24**
*MOU - Minutes of Use Per One Month Active Subscriber
**GSM excluding M-PESA, Fixed & IoT Revenues

34
COSTS | Navigating a Complex Operating Environment With Addressable Opportunities

Direct Costs (KShs Bn) Operating Costs (KShs Bn)

14.3%
83.2 2.4 59.5
3.3 0.1 0.1
53.6
80.3
10.8%

79.1
7.1%
+11.0%
6.4% YoY

71.4 3.6%
1.6%

-0.7%
-1.1%

FY21 FY22 FY23 FY24

Direct Costs (ex-handset costs) YoY% ex-handset costs FY23 Network Employee Operating Other FY24
operating benefits lease costs administrative
YoY% inc-handset costs costs expense costs

*Other admin costs - Sales & Advertising, Travel & Accommodation, Inventory Storage
costs, Repairs & Maintenance, Office admin, Consultancy, Computer maintenance &
Auditors remuneration, foreign exchange gains

35
DEBT & FINANCE COSTS | Growing Finance Costs on the Back of Increased Interest Rates

Net Debt (KShs Bn)

FY22 FY23 FY24

Cash & Cash Equivalents 28.1 18.3 21.3 Debt (KShs Bn)
89.8 10.6
Short term borrowings (20.4) (35.5) (39.8) 8.2
74.0 No FCY
75.9 Debt
7.4 FY24
Long term borrowings (44.9) (38.5) (36.1)
7.3 4.9

Net Debt (37.2) (55.7) (54.6)

66.6 81.6 75.9

Net Debt/EBITDA (KShs Bn)

187.0
0.35
154.2
160.4 0.29
0.24
FY23 H1 FY24 FY24

Local currency Foreign currency Interest cost

55.7 54.6
37.2

FY22 FY23 FY24

Net Debt EBITDA Net Debt/EBITDA ratio

36
CASH FLOW STATEMENT | Strong Cash Flow Position

26.6 1.3

(6.9)
(5.3) 76.1
(3.9) (1.5)
65.8

+15.7%
YoY

FY23 EBITDA Net taxation Capital Net Working Net interest Other cash FY24 Free
payable Additions Capital paid flow items Cash Flow

Numbers are in KShs Bn

37
FINANCIAL KPIs | Improved Margins, Well Positioned to Create Value

FY21 FY22 FY23 FY24

Contribution Margin % 68.5% 68.5% 69.9% 72.1%

EBITDA Margin % 51.0% 50.0% 51.9% 54.7%

EBIT Margin % 36.5% 36.6% 37.6% 40.9%

OPEX Intensity 17.5% 18.5% 17.5% 17.4%

CAPEX Intensity 13.2% 13.2% 13.1% 13.8%

ROCE 62.5% 71.7% 65.0% 70.0%

Net Debt to EBITDA - 0.24 0.35 0.29

These are Safaricom Kenya numbers

38
FINANCIAL PERFORMANCE
SAFARICOM ETHIOPIA
SERVICE REVENUE | Solid Growth in the 1st Full Year Driven by Mobile Data

Contribution to Service Revenue Growth (KShs Bn)** Mobile Others* 3.5%

Incoming
0.2 5.4
0.3 6.2%
0.8

3.6 Voice
17.7%

FY24

Mobile
Data 72.6%
0.5

FY23*** Mobile Data Voice Mobile Incoming Others* FY24

Mobile Incoming Others* 0.7%

Service Revenue One-month Active ARPU 11.8%
5,380.3 183.1
154.0

Voice
78.0 23.9% FY23 Mobile
1,905.4
Data 63.6%
507.4

FY23 H1 FY24 FY24 FY23 H1 FY24 FY24

*Others – M-PESA Revenue, Messaging Revenue, Fixed Line

Wholesale & Transit Revenue and Other Mobile Service Revenue
** Exclusive of IAS29
***7 months of commercial operations

40
CUSTOMERS & USAGE | Sustained Growth Momentum

No. of Sites 90-day Active Customers One -Month Customers Active

2,806
('000s) ('000s)
2,057
4,124.9 4,351.2 3,061.4
1,272 2,584.4
2,130.5 1,436.0

FY23 H1 FY24 FY24 FY23 H1 FY24 FY24 FY23 H1 FY24 FY24

90-day Active Voice Users 90-day Active Data Users ('000s) 90-day Active SMS Users ('000s)
2,787.6
('000s) 2,306.0 1,963.5 1,826.2
3,708.4 3,527.8
1,428.2
1,963.5
682.9

FY23 H1 FY24 FY24 FY23 H1 FY24 FY24 FY23 H1 FY24 FY24

Voice MoU per Sub Data GB per User SMS Per User
70.6 4.3 17.3
63.8 15.9
55.4
3.1

1.5 8.7

FY23 H1 FY24 FY24 FY23 H1 FY24 FY24 FY23 H1 FY24 FY24

41
ETHIOPIA | Medium Term Capex Outlook and Funding

Capex Investment Funding Status

5Yr Plan; USD Mn FY24

USD 1.0 - 1.3Bn •Total Equity Funding as at FY24 by;

Equity cash funding 1,626
(Previously USD 1.5 - 2.0Bn) - Shareholders*
3Yr Actual; Y1-Y3; USD 1,626Mn
USD 853Mn Local currency debt funding 134 - Safaricom PLC
Y1-Y3; USD 840Mn
10Yr Sites Rollout;
Target; 8 - 10k (Previously 10 - 12k) IFC debt funding 100 •Deferred vendor payments
FY24 Actual; 2,806 sites USD 301Mn
Total Funding 1,860

*Shareholders & their respective shareholding of Global Partnership for Ethiopia B.V (GPE), the investment
vehicle to Ethiopia; Safaricom PLC (51.67%), Vodacom Group (5.74%), Sumitomo Corporation (25.23%),
British International Investment (formerly CDC Group PLC) (10.11%) and IFC (7.25%).

42
GROUP NET INCOME | Return to Growth on the Bottom Line

32.5

(6.2)
(5.9)
(5.8) 84.7
(3.0) (1.3) (0.1)
74.5
7.4 63.0

(29.2)

+13.7% +1.2%
YoY YoY

FY23 Contribution Taxation Opex Net Depreciation, Share of Fair value FY24 Ethiopia IAS 29 FY24 Group
Margin Financing Impairment & Associate & Adjustment Net Income Performance Impact Net Income
Costs Amortisation Joint Venture to Investment Kenya excl. Minority Exc. Minority
profit/(loss) Properties Interest Interest

All numbers are in KShs (Bn)

43
CAPEX | Sustained Investment to Support Network Expansion in New Growth Areas & Ethiopia

FY24 Capex Split - Kenya FY24 Capex Split - Ethiopia

Operations,
3.0% Other Capex,
4.5%
IT Capex,
IT Capex, 7.8%
23.7% Radio
Access, Transmission,
37.2% 8.8%

Radio
Fixed Core Network, Access,
Network, 10.2% 68.7%
10.9%
Core Network,
Other 4.9%
Network Mobile, Transmission,
9.5% 10.9%

Group Capex (KShs Bn)

96.1 93.5

49.8
35.0 37.5 41.9
22.8 22.8
Kenya Ethiopia Group
KShs 47.3Bn KShs 46.2Bn KShs 93.5Bn*
FY21 FY22 FY23 FY24 +17.2% YoY -17.1% YoY -2.7% YoY
H1 FY

*Excludes hyperinflationary impact

44
FY24 GROUP PERFORMANCE | Strong Results on Constant Currency Basis

Group
Kenya Group Reported Constant Currency

Service Revenue +11.7% +13.4% +13.4%

EBITDA +16.6% +16.8% +19.2%

EBIT +20.4% -5.5% +0.5%

Net Income +13.7% +1.2% +4.2%

Excluding Minority Interest

45
FY24 GROUP PERFORMANCE

Safaricom Kenya Safaricom Ethiopia Safaricom Group Safaricom Kenya Safaricom Ethiopia Safaricom Group Group Constant
(KShs Mn) (KShs Mn) (KShs Mn) % YoY % YoY % YoY Currency % YoY

Service Revenue 329,805.6 5,758.3 335,353.1 11.7% >100.0% 13.4% 13.4%

Total Revenue 342,098.0 7,379.9 349,447.2 10.7% >100.0% 12.4% 12.3%
Direct Costs (89,824.9) (7252.7) (97,046.9) -0.7% >100.0% 5.2% 4.9%
Contribution Margin 246,497.4 84.9 246,592.9 15.2% >100.0% 15.3% 15.2%
Operating costs (59,515.8) (23,784.5) (83,300.3) 11.0% 19.0% 12.4% 8.3%
Earnings Before Interest, Tax,
Depreciation and Amortisation 186,981.6 (23,699.6) 163,292.6 16.6% 18.8% 16.8% 19.2%
(EBITDA)
Depreciation & amortisation (47,051.8) (35,896.0) (82,947.8) 6.7% >100.0% 51.2% 47.5%
Earnings before Interest and Tax
(EBIT) 139,929.8 (59,595.6) 80,344.8 20.4% 94.0% -5.5% -0.5%
Hyperinflation net monetary gain* 0.0 22,363.2 22,363.2 0.0% >100.0% 115.4% 115.4%
Profit/ (loss) after tax excluding
Minority Interest 84,739.5 (21,748.8) 62,991.7 13.7% 100.0% 1.2% 4.2%

Capex** 47,292.6 46,248.1 93,540.7 17.2% -17.1% -2.7% -9.5%

*The gain in monetary position is as a result of the Ethiopian economy being declared as
hyper-inflationary on and after 31 March 2024.
**Capex numbers exclude hyper-inflationary adjustments. Average ETB/KShs exchange rate is at 2.623.
Safaricom Kenya numbers includes Kenyan subsidiaries. Safaricom Group is net of intercompany
eliminations.

46
OUTLOOK &
CONCLUSION
IN SUMMARY | Outstanding Performance

Strong Kenya
performance

Gaining commercial M-PESA Launch

progress in Ethiopia in Ethiopia

Big Data Delivered value

Acceleration for our customers

Launched device Partner in

assembly plant digitizing Kenya

48
DIVIDENDS | Similar Payout as Last Year

FY23 FY23 FY24 FY24

Interim Final Interim Proposed final
Dividend Dividend Dividend Dividend

KShs 23.24 Bn KShs 24.84 Bn KShs 22.04 Bn KShs 26.04 Bn

KShs 0.58 DPS KShs 0.62 DPS KShs 0.55 DPS KShs 0.65 DPS

FY23 KShs 48.08Bn FY24 KShs 48.08Bn

KShs 1.20 DPS KShs 1.20 DPS

49
2030 Vision | Anchored on Becoming Africa’s Leading Purpose-led Tech-company

Africa’s leading purpose-led technology company

Accelerate the Unlock value through

Protect and Grow the Core Boost and evolve Ethiopia
transition to TechCo innovative delivery models

Build end to end device play

Supercharge fixed broadband delivery

Deliver superior customer experience as a key differentiator

Future Fit Organisation TechCo Operations TechCo Capabilities, Collaboration with Community,
& Operating Model powered by AI People and Culture Industry, and Regulators

50
GROUP | Medium Term Outlook

Kenya Ethiopia

Service revenue profile EBITDA; Breakeven in YR4 (FY26)

•M-PESA; Double digit growth Commercial scale;15-20Mn customers

•Mobile connectivity; High single digit growth Infrastructure scale; >4,000 sites

•Fixed; Double Digit Growth

EBITDA Margin; Stable

Capex; Stable Capex Intensity

51
FY25 | Strategic Priority Areas

Deliver frictionless digital first Unlock segment led growth Invest in tech capabilities
customer experience opportunities for the core business to accelerate path towards TechCo

Accelerate Ethiopia Scale Best-in-class

commercial execution Fixed Broadband services

52
FY25 GUIDANCE | Safaricom Kenya, Ethiopia & Group

All numbers are in KShs and exclude IAS 29

Kenya Ethiopia* Group

EBIT 149 - 152Bn (46 - 43)Bn 103 -109Bn

FY24 Actual 139.9Bn (45.0)Bn 94.9Bn

Capex 52 - 55Bn 21 - 24Bn 73 - 79Bn

FY24 Actual 47.3Bn 46.2Bn 93.5Bn

*Ethiopia Guidance Assumptions

• Mobile customers target of 7 - 10Mn 90-day customers, 2.5 - 4Mn M-PESA 30-day active customers
• Target sites – 3,500 in FY25

53
THANK YOU!
Corporate Information

Registrars
Upcoming Updates
Image Registrars Limited
5th Floor, Absa Plaza, Loita Street AGM
P.O. Box 928-00100, Nairobi July 2024
Telephone: +254 709 170 000
Email; Info@[Link] Safaricom Ethiopia Q1 Update
Website: [Link] July 2024

Investor Relations HY25 Results

Safaricom House November 2024
Waiyaki Way, Westlands
P.O. Box 66827-00800, Nairobi
Visit our website for more information
Telephone: +254 722 00 6218/4233/4746
[Link]
Email: investorrelations@[Link]
Website: [Link]/investor-relations

Auditors
Ernst & Young
Kenya Re Towers,Off Ragati Road
P.O. Box 44286-00100, Nairobi
Telephone: +254 20 2886000