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Egyptian Spectrum Investment
Vodacom Group Limited
(Incorporated in the Republic of South Africa)
Registration number: 1993/005461/06
Share code: VOD
ISIN: ZAE000132577
ADR code: VDMCY ISIN: US9258D2009
("Vodacom" or "the Group")
EGYPTIAN SPECTRUM INVESTMENT
Shareholders are advised that on 7 February 2026, Egypt's Ministry of Communications and
Information Technology (MCIT) and National Telecommunications Regulatory Authority (NTRA)
announced a multi-year investment programme (the programme) with the industry that provides
visibility on the country's digital infrastructure outlook, including spectrum. Given the country's
pro-investment landscape, growth outlook and certain regulatory safeguards, Vodafone Egypt intends to
participate in the programme. The programme, which runs from FY2026 to FY2032, encompasses
spectrum in the 1 800 mHz and 3 500 mHz bands and the renewal of 2 600 mHz.
We are pleased to confirm that Vodafone Egypt has secured 2 x 10 mHz of 1 800 mHz as part of the
initial phase of the programme. The 1 800 mHz spectrum will augment Vodafone Egypt's leading
spectrum position and support us capturing the significant latent data demand in the country. The
Group expects to report an intangible spectrum asset of approximately US$350 million for the 1 800
mHz spectrum acquisition, which represents the present value of a multi-year payment schedule. The
associated financial liability for this spectrum is expected to approximate US$250 million for the year
ended 31 March 2026, with a US$100 million instalment paid in FY2026, prior to the year end. The
balance of the liability will be settled in three annual instalments.
It is envisaged that the next phase of the programme will commence in FY2028 and conclude by
FY2032. During this phase of the programme, we expect that the MCIT and NTRA will release a sizeable
allocation of 3 500 mHz spectrum and renew existing 2 600 mHz.
Midrand
9 February 2026
Investec Bank Limited: Sponsor and Corporate Broker to Vodacom
Date: 09-02-2026 07:05:00
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