Init itial ial Publ blic ic Of Offer ering ing of Oo Ooredoo - PowerPoint PPT Presentation

IPO Opens on April 30, 2017 Init itial ial Publ blic ic Of Offer ering ing of Oo Ooredoo edoo Mald ldives ives Plc lc LEAD FINANCIAL ADVISOR AND MANAGER TO THE OFFER Ooredoo Maldives Investor Presentation 1

Disc sclaim aimer er This Presentation (the “Presentation”) has been prepared by Ooredoo Maldives Plc (“OMPL” or the “Company”) solely for use with  professional or institutional investors. This Presentation is strictly confidential and is furnished to you solely for your information. It should not be treated as giving investment advice and may not be copied, reproduced, distributed or otherwise made available (in whole or in part) to any other person (including any member of the press) and it may not be published, in whole or in part, by any medium for any purpose. No specific investment objectives, financial situation or particular needs of any recipient have been taken into consideration in connection with the preparation of this Presentation.  The information contained in this presentation has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this Presentation. None of the Company, its advisors or any of their respective representatives or affiliates undertakes to update, complete, revise or amend the information contained in this Presentation subsequent to the date hereof. Furthermore, none of the Company, its advisors or any of their respective representatives or affiliates shall have any liability whatsoever (in negligence or otherwise) for any loss, whether direct or indirect, howsoever arising from any use of this Presentation or its contents or otherwise arising in connection with this Presentation.  This Presentation contains certain “forward -looking statements” that speak only as of the date of this Presentation. Such statements are made on the basis of assumptions and expectations that the Company currently believes are reasonable, but could in the future prove to be wrong. All forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual outcomes to differ materially from those contemplated by the relevant forward-looking statement. Important factors that could cause actual results to differ materially from the Company assumptions and expectations include, among others: The Company’s ability to manage domestic and international growth and maintain a high level of customer service; future sales growth; market acceptance of the Company product and service offerings; the Company’s ability to secure adequate financing or equity capital to fund its operations; network expansion; performance of the Company network and equipment; cooperation of incumbent local exchange carriers in provisioning lines and interconnecting the Company’s equipment; regulatory approval processes; changes in technology; price competition and other market conditions and associated political risks. The risks referred to above are morefully described in Section 12 of the IPO Prospectus.  This Presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire or dispose of securities in the Company.  By accepting this Presentation the recipient agrees to be bound by the foregoing limitations. Ooredoo Maldives Investor Presentation 2

Contents ents 1. The Offer 2. The Company 3. Outlook for the Market and the Company 4. Key Assumptions and Financial Forecasts 5. Valuation 6. Subscription Process 7. Annexures 8. Abbreviations Ooredoo Maldives Investor Presentation 3

Oore redoo oo Maldives ives - A Co Compelli lling ng Inves vestm tment ent Opportunit tunity Prospe ospective ctive dividen vidend yield ld of 10.9% % for 2017F F based sed on forec ecas asts and IPO O Offer fer Price ice  The Maldivian economy has projected GDP growth of 3.9% in 2017 (as per IMF projections) Favourable Macro  Telecommunications industry is given impetus under Digital Maldives initiative and Industry  Ubiquitous connectivity to drive growth in content consumption, IoT (“Internet of Things”) adoption Dynamics and enterprise solutions  Dynamic market for mobile data consumption growth due to enhanced 4G+ connectivity across the archipelago enabled by the Nationwide Submarine Cable (“NaSCOM”) Focused Growth  Postpaid customer acquisitions due to Mobile Number Portability (“MNP”) Strategies  Fixed Broadband growth from domestic and enterprise segments  Proven track record: 2013-16 CAGR of 31.9% and 16.8% in revenue and total customer base Company  30 ppt increase in EBITDA margins over last 4 years to reach 50.4% in 2016, driven by topline Performance and growth and supported by cost optimsation Healthy Margins  Driven by approx. USD 194 Mn in network infrastructure investments (2006 to date) Strong  Highly experienced management team with blend of expatriate and local talent Management  Ooredoo Group has operations in 10 countries spanning MENA and South East Asia with a total Team & customer base of over 138 Mn Shareholder  Significant synergetic benefits via group procurement and finance policies Support  Increasing profitability and lower capex requirements after high build out levels to support higher free High Dividend cash flow (“FCF”) generation  Yield with Higher FCF available for distribution with OMPL expected to maintain a high dividend payout ratio in line with dividends declared for FY 2016 (payout ratio of 85%) Potential for  Potential for shareholders to earn attractive returns via increasing dividend yields and potential Further Growth capital gains Ooredoo Maldives Investor Presentation 4

Offer er Summary Type of Security Ordinary Voting Shares 59,120,160 Ordinary Shares, which represents 40% of the Issued Ordinary Shares. The Offeror will start by offering 22,170,060 Ordinary Shares, which represents 15% of the Number of Shares Offered Issued Ordinary Shares. In the event of an oversubscription, the Offeror will meet any additional demand up to a maximum of the offered 59,120,160 shares Share Offer Price MVR 30.00 Share Offer Amount Maximum of MVR 1,773,604,800 Company’s Comply with the listing requirement stipulated on the License by Purpose of the Offer Communications Authority of Maldives (“CAM”) Offer Opening Date April 30, 2017 Offer Closing Date May 28, 2017* Secondary Market Trading August 07, 2017* * Note: These dates are subject to change if the 1 st day of Ramadan falls on a day that is a weekday in the Maldives Pre-Offer Post-Initial Offer Post-Total Offer Shareholder Number of Shares % Number of Shares % Number of Shares % Existing Shareholders 147,800,401 100.0 125,630,341 85.0 88,680,241 60.0 New Investors - - 22,170,060 15.0 59,120,160 40.0 Total 147,800,401 100.0 147,800,401 100.0 147,800,401 100.0 Ooredoo Maldives Investor Presentation 5

Contents ents 1. The Offer 2. The Company 3. Outlook for the Market and the Company 4. Key Assumptions and Financial Forecasts 5. Valuation 6. Subscription Process 7. Annexures 8. Abbreviations Ooredoo Maldives Investor Presentation 6

Trailb lblazer lazer in M Maldiv dives es Telecom ommu munic nicati ations ons Indus ustr try 5 year CAGRs of 25% and Mobile infill solutions to 23% in revenue and total improve street customer base between 2011 level coverage and 2016 Rebranded as Ooredoo 1 st in South Asia 2016 2015 2014 Inauguration of Nationwide 2013 Submarine Cable Entry into the market as Wataniya International 2009 Tested LTE advanced 2008 Mobile Number Portability successfully Wireless and m-Faisaa (mobile 2006 Broadband money) 2005 Launch of Fixed Broadband Introductory Listing on the International subsea cable by WARF Maldives Stock Exchange Telecom International Private Limited Ooredoo Maldives Investor Presentation 7

Supported ed by Oo y Oore redoo oo Group One of the fastes est growing owing Telco lco groups oups with h pres esence ence in MENA and d South-Ea East Asia 2006 Growth 2016 10 2 CAGR Markets < 2 Mn > 138 Mn Customers 53% 2,200 16,000 Employees 21% Revenue USD 1.2 Bn USD 8.9 Bn 22% USD 726 Mn USD 3.6 Bn EBITDA 17% Ooredoo Maldives Investor Presentation 8

Oore redoo oo Group, p, an I Internationa ernational l Tel elco co with th a Fo Focu cus s on Data Leadershi ship 4G in 8 markets out of 10 markets 40% of Revenue from Data Majority Ownership by State of Qatar Ultimate Holding Company (Ooredoo Q.S.C.) listed on QSE, ADX and LSE Brand equity of USD 3.1 Bn* Investment Grade Rating of A+ / A2 / A- by Fitch / Moody’s / S&P * Source: “Telecoms 500 2017” by Brand Finance Ooredoo Maldives Investor Presentation 9

Fully-fledged ledged Commun unica icatio tions ns Service e Operat ator or Mobile Fixed Content Services Enterprise Solutions Financial Services Mobile Internet Money leased Transfer Lines (m-Faisaa) Ooredoo Utility & Locate - Merchant Real time Bill GPS Targeted Payments Tracking data packs for social media Cloud services and hosted Unlimited services on-net calling & SMS Localised services to suit the needs of the Maldivian market Innovative solutions and in-house product development Ooredoo Maldives Investor Presentation 10