Helios Towers Plc · LSE:HTWS
Helios Towers — Investor Day (November 2025)
71 slides from Helios Towers's investor day presentation, Nov 6, 2025
Slide 1: Connecting People, Powering Growth
CAPITAL MARKETS DAY 6 NOVEMBER 2025 CONNECTING PEOPLE, POWERING GROWTH
Slide 2: Disclaimer
CAPITAL MARKETS DAY 2025 2 Disclaimer 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 Helios Towers plc (the "Company") or any other member
Slide 3: Agenda
CAPITAL MARKETS DAY 2025 3 Agenda Sir Samuel Jonah KBE, OSG, Chair 1 Welcome 14:00 – 14:10 Chris Baker-Sams, Head of Strategic Finance & Investor Relations Tom Greenwood, 2 A World-Class Tower Platform 14:10 – 14:50 CEO Manjit Dhillon, 3 Best-in-class Financial Performance 14:50 – 15:20 CFO & HT Oma
Slide 4: Sir Samuel Jonah KBE, OSG, Chair
CC CAPITAL MARKETS DAY 2025 4 Knighted by Deep Board Queen Elizabeth II experience: Joined Helios in 2003 for his Vodafone, Lonrho, Towers as Chair in significant Bank of America 2019 at IPO contribution to Corp., and business and Standard Bank industry in Africa Sir Samuel Jonah KBE, OSG Chair
Slide 5: Tom Greenwood, CEO
CC CAPITAL MARKETS DAY 2025 5 Joined Helios Towers in 2010. Leadership Appointed CEO Previously: across all in April 2022 COO (2020-2022) strategic cycles CFO (2015-2020) Tom Greenwood CEO
Slide 6: A World-Class Tower Platform
A WORLD-CLASS 1x TOWER PLATFORM Tom Greenwood, CEO 01 IMPACT 2030 02 Our World-Class Platform 03 Our Markets have Decades of Growth Ahead 2x 04 Our Customers are Leading Mobile Network Operators 05 We Deliver Operational Excellence in Complex Markets 06 Our Ambitious but Deliverable Financial Target
Slide 7: Executive Leadership Team – >450 years' experience in tower, power & EM
CAPITAL MARKETS DAY 2025 7 Executive Leadership Team – >450 years’ experience in tower, power & EM Attending CMD today Group Executive Committee Country Managing Directors Tom Greenwood Manjit Dhillon Lara Coady Sainesh Vallabh David Dzigba Colard Nkole Jadawy Fatoumata Mbaye Marinus Gieselbach CEO
Slide 8: Our business is underpinned by >15 years' operating at the highest levels of governance
CAPITAL MARKETS DAY 2025 8 Our business is underpinned by >15 years’ operating at the highest levels of governance Governance embedded through multiple layers Deep expertise & experience. Board Compliant with the UK Companies DFI investors Act & Corporate Governance Code Standards Sir Samuel Tom Man
Slide 9: Ten years of consistent Adj. EBITDA growth
CAPITAL MARKETS DAY 2025 9 Ten years of consistent Adj. EBITDA growth Adj. EBITDA1 (US$m) +24% CAGR c.470 421 370 283 227 241 178 205 146 105 54 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 guidance 1. Adj. EBITDA is defined by management as profit/(loss) before tax for the year
Slide 10: IMPACT 2030
CAPITAL MARKETS DAY 6 NOVEMBER 2025 1 IMPACT 2030
Slide 11: Why are we here today?
CAPITAL MARKETS DAY 2025 11 Why are we Delivered our current “2.2x by 2026” strategy here today? ahead of plan, supporting FCF inflection Our new strategy, IMPACT 2030, targets capital efficient organic growth through further sector- leading tenancy expansion & customer experience excellence Highly
Slide 12: In the cash compounding sweet spot
CAPITAL MARKETS DAY 2025 12 In the cash compounding sweet spot as we target continued growth & further expanding our returns above our cost of capital 2019-22 2022-25 2025-30 Strengthened Integrated acquisitions Cash compounding platform and drove ROIC1 > WACC sweet spot 12 x 8 x 5 2.2x by 26 IMPACT
Slide 13: IMPACT 2030: Our ambitions over next five years
CAPITAL MARKETS DAY 2025 13 IMPACT 2030: Our ambitions over next five years Our vision To be the leading towerco in Africa & Middle East Our mission Deliver customer experience excellence through our digital business excellence platform and create sustainable value for Our purpose our people, enviro
Slide 14: Our World-Class Platform
CAPITAL MARKETS DAY 6 NOVEMBER 2025 2 OUR WORLD-CLASS PLATFORM
Slide 15: World-class tower platform focused on high-growth Africa & Middle East
CAPITAL MARKETS DAY 2025 15 World-class tower platform strategically focused on high-growth Africa & Middle East (millions) Today FY 30 Growth Population3 369 415 +12% 9 High-growth markets Unique 173 214 +24% Subscribers4 Position in seven of our #1 markets HT footprint 157 >190 +21% Senegal (popul
Slide 16: Business model provides highly attractive returns and strong earnings visibility
CAPITAL MARKETS DAY 2025 16 Business model provides highly attractive returns and strong earnings visibility Site ROIC1 Predictable revenue: Tenant 1 High revenue visibility supported by (Anchor) 12% 10-15 year contracts with CPI & power price escalators Tenant 2 25% (Colocation) High operating leve
Slide 17: Business model unit economics drive ROIC and FCF growth through IMPACT 2030
CAPITAL MARKETS DAY 2025 17 Business model unit economics drive ROIC and FCF growth through IMPACT 2030 Tenancy >2.5x 2.2x Ratio 2.1x 1.9x 1.8x 15-20% ROIC 14% 12% 13% 10% FCF >$400m shareholder 49 distributions targeted 19 up to FY 30 (81) (721) FY 22 FY 23 FY 24 Q3 25 FY 30 YTD Targets
Slide 18: Our Markets Have Decades of Growth Ahead
CAPITAL MARKETS DAY 6 NOVEMBER 2025 3 OUR MARKETS HAVE DECADES OF GROWTH AHEAD
Slide 19: Africa & Middle East have decades-long mobile growth ahead
CAPITAL MARKETS DAY 2025 19 Africa & Middle East have decades-long mobile growth ahead Population growth1 Unique mobile subscribers2 Smartphone devices3 (2025 – 2050) (2025 – 2050) (2025 – 2050) 141% 71% 55% 15% 33% 6% A&ME RoW A&ME RoW A&ME RoW +1.0bn by 2050 +0.8bn by 2050 +1.7bn by 2050 1. Cap IQ
Slide 20: Data consumption is growing exponentially in Africa & Middle East
CAPITAL MARKETS DAY 2025 20 Data consumption is growing exponentially in Africa & Middle East Data consumption1 Cost of 4G smartphone2 Technology mix3 (Indexed, Exabyte/month) ($) (% connections) 4.2 6% A&ME 24% 25% 54% 46% 273 52% 1.9 RoW 29% 108 1 30% 19% 30 11% 4% FY 24 FY 30 FY 20 FY 25 FY 30 FY
Slide 21: Decades of total addressable market growth in our nine markets
CAPITAL MARKETS DAY 2025 21 Decades of total addressable market growth in our nine markets Increasing mobile connections and data consumption drives requirement for higher tenancies in our markets Total Helios Towers addressable tenancies market1 >10k +27k targeted Total 142k Population growth addre
Slide 22: IMPACT 2030 will focus on our core product, with opportunities for new products
CAPITAL MARKETS DAY 2025 22 IMPACT 2030 will focus on our core product, with opportunities for new product development as 5G proliferates Customer Operational Earnings 2025 YTD 2030 2030+ synergies synergies quality revenue mix revenue mix revenue mix Towers 97% c.95% 90-95% In Building Solutions 1%
Slide 23: Our Customers Are Large Leading Mobile Network Operators
CAPITAL MARKETS DAY 6 NOVEMBER 2025 4 OUR CUSTOMERS ARE LARGE LEADING MOBILE NETWORK OPERATORS
Slide 24: Fast-growing, well-diversified customer base of leading mobile operators
CAPITAL MARKETS DAY 2025 24 Our fast-growing and well-diversified customer base comprises leading global and regional mobile operators 3 4 Revenue Split / # HT 27% 22% 11% 7% 10% 5% 5% (5 markets) (4 markets) (3 markets) (1 market) (3 markets) (1 market) (3 markets) markets Credit Baa3/BBB- Baa2/BBB
Slide 25: We have deep experience and leading market positions
CAPITAL MARKETS DAY 2025 25 We have deep experience and leading market positions Country / Operations Number of Number of HT market Tenancy ratio region commenced MNOs1 towercos position (2022 → Q3 25) 4 3 1 Tanzania 2011 2.2x → 2.6x 4 3 1 DRC 2011 2.3x → 2.7x 3 2 1 Oman 2022 1.2x → 1.7x Other ~3 ma
Slide 26: Our Customer Experience Excellence proposition
CAPITAL MARKETS DAY 2025 26 Our Customer Experience Excellence proposition Operational Financial Global quality excellence value standards Power Carbon 99.99% uptime -30% Lower cost -37% reduction3 each 1% of network downtime across our lease rate is 30% lower than the operators 37% reduction in die
Slide 27: We have materially improved power performance in our new markets
CAPITAL MARKETS DAY 2025 27 We have materially improved power performance in our new markets Downtime per tower per week1 (mm:ss) -99% 47:55 -87% -98% 10:01 -99% 01:16 03:48 00:41 05:25 00:04 00:03 Q2 21 Q3 25 Q4 21 Q3 25 Q1 22 Q3 25 Q4 22 Q3 25 (Acquisition closing) (Acquisition closing) (Acquisiti
Slide 28: Customer feedback validates our commitment to service quality
CAPITAL MARKETS DAY 2025 28 Customer feedback validates our commitment to service quality Sanjeet Kumar Haytham Ammar Said Abdullah Ali Al Ajmi Senior Vice President Supply Chain CFO Vice President Technology Airtel Africa Vodacom International and Infrastructure Omantel Helios Towers is our preferr
Slide 29: We Deliver Operational Excellence in Complex Markets
CAPITAL MARKETS DAY 6 NOVEMBER 2025 5 WE DELIVER OPERATIONAL EXCELLENCE IN COMPLEX MARKETS
Slide 30: Operating towers in Africa & Middle East requires a unique operational skillset
CAPITAL MARKETS DAY 2025 30 Operating towers in Africa & Middle East requires a unique operational skillset Complicated terrains Limited grid availability Land size1 Tarmac roads 2 Average grid hours per day3 3.0m 6.1m km km2 24hrs 4.0m km2 17hrs 0.2m km Our markets EU Our markets EU 1. World bank d
Slide 31: Business Excellence Programme uses Lean Six Sigma with embedded digital tools
CAPITAL MARKETS DAY 2025 31 Our bespoke Business Excellence Programme uses Lean Six Sigma foundations combined with embedded digital tools How is it applied at What is Lean Six Sigma? Our investment in people Helios Towers? Lean Six Sigma trained employees (%) Data-driven decision making Front-end 6
Slide 32: Business Excellence supports world-class operational delivery
CAPITAL MARKETS DAY 2025 32 Business Excellence supports world-class operational delivery Speed of rollout Consistent power uptime BTS and colocation days to deliver from order (days) Power uptime (%) BTS Colo 99.96% 99.98% 99.99% 99.99% (62) days Downtime per tower per week (minutes)1 (8) days 167
Slide 33: Business Excellence applied to proprietary GIS system to drive lease-up
CAPITAL MARKETS DAY 2025 33 Business Excellence is applied to our proprietary GIS system to drive lease-up Proprietary GIS system Tenancy ratio by vintage drives lease-up Average tenancy ratio expansion per annum1 HT site BTS locations +0.2x +0.2x +0.4x MNO site Clutter locations Acquired +0.1x +0.1
Slide 34: Lean Six Sigma delivers incremental improvements across the Company
CAPITAL MARKETS DAY 2025 34 Lean Six Sigma delivers incremental improvements across the Company Albert Gloria Al Waleed Mngulu Msuya Al Shuaili Finance Director, Senior Sales Manager, Project Engineer, Malawi Tanzania Oman Through Lean Six Sigma, we After Lean Six Sigma training, I My Lean Six Sigma
Slide 35: Our Ambitious but Deliverable Financial Targets
CAPITAL MARKETS DAY 6 NOVEMBER 2025 6 OUR AMBITIOUS BUT DELIVERABLE FINANCIAL TARGETS
Slide 36: Growth and value – the cash compounding sweet spot
CAPITAL MARKETS DAY 2025 36 Growth and value – the cash compounding sweet spot World-class platform Our targets Downtime Tenancies Tenancy ratio per tower per (2030) (2030) week (2030) Operational >42,000 >2.5x <10s Decades of growth Adj. EBITDA Cumulative CAGR ROIC RFCF Financial (2025-2030) (2030)
Slide 37: Slide 37
Slide 38: Best-in-class Financial Performance
BEST-IN-CLASS FINANCIAL PERFORMANCE Manjit Dhillon, CFO & HT Oman Executive Chair 07 Q3 Results Highlights 08 Robust Business Model 09 Disciplined and Flexible Capital Allocation
Slide 39: Manjit Dhillon, CFO & HT Oman Executive Chair
CAPITAL MARKETS DAY 2025 39 Joined in 2016 Appointed Led >$5bn in Previously: CFO in 2021 capital raisings, Interim CFO & HT Oman multiple (2020) Executive acquisitions, IPO Head of Chair in 2025 Corporate Finance & IR (2018-2020) Manjit Dhillon CFO & HT Oman Executive Chair
Slide 40: Why we are here today?
Why we are here today? Delivered our current “2.2x by 2026” strategy ahead of plan, supporting FCF inflection Our new strategy, IMPACT 2030, targets capital efficient organic growth through further sector- leading tenancy expansion and customer experience excellence Highly visible route to generate
Slide 41: Q3 Results Highlights
CAPITAL MARKETS DAY 6 NOVEMBER 2025 7 Q3 RESULTS HIGHLIGHTS
Slide 42: Q3 Highlights – continued growth and ROIC expansion
CAPITAL MARKETS DAY 2025 41 Q3 Highlights – continued growth and ROIC expansion 01 02 03 04 Delivering on our Consistently strong Strengthened FY 25 guidance ‘2.2x target’ financial delivery1 financial position tightened upwards • +2,125 YTD tenancy • +11% YoY Adj. EBITDA • YoY net leverage • c.2,50
Slide 43: FY 25 guidance tightened upwards
CAPITAL MARKETS DAY 2025 42 FY 25 guidance tightened upwards FY 24 FY 25 FY 25 guidance1 YoY Actual Prior guidance tightened upwards Growth2 Tenancy additions +2,481 2,000 – 2,500 c.2,500 +9% Adj. EBITDA $421m $460m - $470m c.$470m +12% $169m $150m - $180m $160m - $180m Capex3 ($127m disc. / ($100m
Slide 44: Robust Business Model
CAPITAL MARKETS DAY 6 NOVEMBER 2025 8 ROBUST BUSINESS MODEL
Slide 45: Ten years of consistent Adj. EBITDA growth through global volatility
CAPITAL MARKETS DAY 2025 44 Ten years of consistent Adj. EBITDA growth through global volatility Adj. EBITDA (US$m) +24% CAGR c.470 421 370 241 283 205 227 146 178 105 54 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 guidance Global Oil price shocks, Global inflation Brexit Covid
Slide 46: Robust business model built on solid foundations
CAPITAL MARKETS DAY 2025 45 Robust business model built on solid foundations – diversified markets, innate hard-currency FX and a strong blue-chip customer base Most diversified 71% hard-currency c.70% revenues from $5.5bn contracted towerco operating Adj. EBITDA, investment grade revenues1 with acr
Slide 47: High quality contractual structure provides revenue visibility
CAPITAL MARKETS DAY 2025 46 High quality contractual structure with global and regional mobile operators provides revenue visibility High quality contracts Diversified customer base Utilising the US towerco contract structure Customer revenue mix2 (5 markets) Baa3/BBB-/BBB-3 Long term 2% • 10 – 15 y
Slide 48: Structurally protected against movements in FX, power prices and inflation
CAPITAL MARKETS DAY 2025 47 Structurally protected against movements in FX, power prices and inflation1 MADA- SOUTH DRC OMAN SENEGAL CONGO B TANZANIA GHANA MALAWI GROUP GASCAR AFRICA OpCo EBITDA % 30% 10% 6% 6% 36% 3% 2% 5% 1% >50% Adj. EBITDA from innately hard-currency markets 100% 100% 100% 100%
Slide 49: Adj. EBITDA driven by tenancy growth, with no impact from FX/inflation
CAPITAL MARKETS DAY 2025 48 Adj. EBITDA has been driven by tenancy growth, with no impact from FX/inflation – despite a volatile environment (US$m) 30 62 (26) CPI and power escalations have 164 effectively offset foreign currency and power movements 470 241 97% Adj. EBITDA driven by tenancy growth F
Slide 50: Over ten years Adj. EBITDA driven by tenancies, minimal macro impact
CAPITAL MARKETS DAY 2025 49 Over the last ten years our Adj. EBITDA has been driven by tenancies, with minimal impact from macro volatility Tenancy Tenancies Annualised Adj. FX / Oil EBITDA (US$m) additions Our Adj. EBITDA Our Adjusted is driven by EBITDA is driven R- Squared: R-Squared: tenancy 0.9
Slide 51: The Helios Towers organic growth algorithm (2025-2030)
CAPITAL MARKETS DAY 2025 50 The Helios Towers organic growth algorithm (2025-2030) Market Tenancy Recurring free cash Adj. EBITDA growth growth flow Structural growth Principally Strong Adj. EBITDA Organic strategy through 27k additional colocations, growth through support high RFCF market tenancies
Slide 52: Resilient Adj. EBITDA growth has high flow through to recurring free cash flow
CAPITAL MARKETS DAY 2025 51 Resilient Adj. EBITDA growth has high flow through to recurring free cash flow Cumulative recurring free cash flow targeted (US$m) Operating leverage expected through 84%1 fixed IMPACT 2030 strategy rate debt Driven by site growth (>3% p.a.) >$1.3bn >9% Cumulative (2026-3
Slide 53: Disciplined and Flexible Capital Allocation
CAPITAL MARKETS DAY 6 NOVEMBER 2025 9 DISCIPLINED AND FLEXIBLE CAPITAL ALLOCATION
Slide 54: Our disciplined and flexible capital allocation framework
CAPITAL MARKETS DAY 2025 53 Our disciplined and flexible capital allocation framework 01 02 03 Optimised organic Attractive investor Opportunistic investments distributions M&A >$500m discretionary capex for >$250m buybacks targeted, Preference for in-market M&A, ROIC accretive opportunities - start
Slide 55: Optimised organic investments are highly accretive for our business
CAPITAL MARKETS DAY 2025 54 Optimised organic investments are highly accretive for our business Growth capex drives strong Adj. EBITDA Key investment areas and ROIC expansion Growth capex Organic Adj. EBITDA expansion Organic PFCF expansion Investment Incremental ROIC Area Capex1 ROIC 113 90-110 Col
Slide 56: >$500m invested in organic opportunities and >$400m investor distributions
CAPITAL MARKETS DAY 2025 55 >$500m expected to be invested in accretive organic opportunities and >$400m targeted investor distributions up to 2030 Colocations, power investments & new sites Driving >9% Adj. EBITDA growth Introduction of a share buyback, >$500m targeting a minimum of $250m up to and
Slide 57: Limited near-term M&A opportunities, preference for in-market bolt-ons
CAPITAL MARKETS DAY 2025 56 Limited near-term M&A opportunities, though preference for in- market bolt-ons Preference for in- Limited near term opportunities market bolt-ons Our A&ME Proven market for growth and lease-up markets Cement leadership position in market Total towers available1 488k 23k S
Slide 58: Key takeaways
57 Key takeaways We have entered the sweet spot, delivering growth and value Through IMPACT 2030 we will deliver high- returning, capital-efficient, organic growth and generate excess capital for investor distributions Market growth supports tenancy growth, driving >9% Adj. EBITDA CAGR and >$1.3bn c
Slide 59: Break
CAPITAL MARKETS DAY 6 NOVEMBER 2025 10 BREAK
Slide 60: 60
60
Slide 61: Driving Excellence Across Our Markets
1x DRIVING EXCELLENCE ACROSS OUR MARKETS A fireside chat with: 2x Allan Fairbairn, Director of Delivery, IT and Business Excellence Fritz Dzeklo, Regional CEO, West, Central & Southern Africa Gwakisa Stadi, Regional CEO, East Africa Lara Coady, Director of Operations and Engineering Sainesh Vallabh,
Slide 62: Allan Fairbairn, Fritz Dzeklo, Gwakisa Stadi, Lara Coady, Sainesh Vallabh
CAPITAL MARKETS DAY 2025 61 Allan Fairbairn Fritz Dzeklo Gwakisa Stadi Lara Coady Sainesh Vallabh Group Director of Delivery, Regional CEO, Central, Regional CEO, East Director of Chief IT & Business Excellence West & Southern Africa Africa Operations & Commercial Officer Engineering
Slide 63: Q&A
CAPITAL MARKETS DAY 6 NOVEMBER 2025 11 Q&A
Slide 64: Appendix
CAPITAL MARKETS DAY 6 NOVEMBER 2025 12 Appendix
Slide 65: Introducing additional P&L performance measure
CAPITAL MARKETS DAY 2025 64 Introducing additional P&L performance measure From FY 25 we intend to start reporting Adjusted EPS to provide a picture of underlying earnings, excluding non-cash movements that can create periodic variability Introduction of FY 22-24 Adjusted EPS bridge Adjusted EPS, to
Slide 66: Continued proactive balance sheet management through partial convertible tender
CAPITAL MARKETS DAY 2025 65 Continued proactive balance sheet management through partial convertible tender Transaction overview Debt maturity ladder Group facilities: Convertible Term Senior Oman • On 30 September, we successfully tendered $120m bond2 loan Notes1 facilities3 principal convertible b
Slide 67: 2025 LTIP and annual bonus
CAPITAL MARKETS DAY 2025 66 2025 LTIP and annual bonus Each year, the Remuneration Committee carefully considers the appropriateness of the LTIP and annual bonus operation, including the performance metrics, their relative weightings and targets, and alignment with the Company's strategy and forecas
Slide 68: Financial measures
CAPITAL MARKETS DAY 2025 67 Financial measures Defined by management as loss before tax for the year, adjusted for finance costs, other gains and losses interest receivable, less on disposal of property, plant and equipment, amortisation of intangible assets, depreciation and impairments of property
Slide 69: Glossary and definitions
CAPITAL MARKETS DAY 2025 68 Glossary and definitions 2G Means the second-generation cellular telecommunications network commercially launched on the GSM and CDMA standards Means the third-generation cellular telecommunications networks that allow simultaneous use of voice and data services, and prov
Slide 70: Glossary and definitions
CAPITAL MARKETS DAY 2025 69 Glossary and definitions Means Geographical Information System (“GIS”). GIS is a platform used for proprietary analysis which leverages network infrastructure and GIS demographic information, enabling Helios Towers to pinpoint where new sites and colocations will be neede
Slide 71: Glossary and definitions
CAPITAL MARKETS DAY 2025 70 Glossary and definitions Our established markets Refers to Tanzania, DRC, Congo Brazzaville, Ghana and South Africa Our markets / markets Refers to Tanzania, DRC, Congo Brazzaville, Ghana, South Africa, Senegal, Madagascar and Malawi in which we operate Means points of se