Ooredoo Q.p.s.c · QSE:ORDS
Ooredoo Q.p.s.c — Ooredoo — H1 2026 Earnings Presentation
36 slides from Ooredoo Q.p.s.c's earnings presentation, August 2026
Slide 1: Ooredoo Group Results presentation
OOREDOO GROUP Results presentation For the six-month period ended 30 June 2026
Slide 2: Disclaimer
Disclaimer • Ooredoo (parent company Ooredoo Q.P.S.C.) and the group of companies which it forms part of (“Ooredoo Group”) cautions investors that certain statements contained in this document state Ooredoo Group management's intentions, hopes, beliefs, expectations, or predictions of the future and
Slide 3: Presenters
Presenters Strategy and Operations Results review review Fadi Abdellatif Aziz Aluthman Fakhroo Deputy Group CFO Group CEO 2
Slide 4: Overview of H1 2026
Overview of H1 2026 Sustained service revenue momentum, margin improvement and tangible strategic progress OPERATIONAL MOMENTUM STRONGER PROFITABILITY Growth and resilience across the EBITDA growth and margin diversified portfolio expansion Growth markets maintained strong momentum, supported by Rev
Slide 5: Strategic Progress
STRATEGIC PROGRESS Aziz Aluthman Fakhroo | Group CEO 4
Slide 6: Data Centers | Accelerating MENA's digital future
Data Centers | Accelerating MENA’s digital future Scalable regional data center platform enabling hyperscalers, AI clusters, and colocation wholesalers to expand across strategic markets CURRENT FOOTPRINT EXPANSION PROGRAM H1 RESULTS 15 30 3 # of countries 7.5 QAR 112 million QAR 46 70% Revenue in A
Slide 7: Ooredoo Fintech | Continued expansion across group footprint
Ooredoo Fintech | Continued expansion across group footprint Qatar and Oman scaling rapidly; Tunisia live and Iraq in Build phase GROSS REVENUE NET REVENUE INTERNATIONAL REMITTANCE USERS MARKETS QAR 75 m QAR 51 m QAR 6 billion 500k+ 4 Live & 1 Build Phase +14% YoY +16% YoY In H1 2026 In H1 2026 In H
Slide 8: Results Review
RESULTS REVIEW Aziz Aluthman Fakhroo | Group CEO 7
Slide 9: Key H1 2026 YoY Highlights
Key H1 2026 YoY Highlights Strong execution delivered solid H1 results despite ongoing regional pressures Growth Profitability Balance Sheet Returns Capex Stable at Free Revenue +4.6% EBITDA1 +7.4% Intensity 12.9% +7.7% Cash QAR 12.5 billion QAR 5.5 billion QAR 3.9 billion Capex QAR 1.6 billion Flow
Slide 10: Key Q2 2026 YoY Highlights
Key Q2 2026 YoY Highlights Revenue growth translated into stronger profitability, improved margins and higher free cash flow Growth Profitability Balance Sheet Returns Capex Stable at Revenue +3.2% EBITDA1 +8.0% Intensity 16.0% Free +10.8% Cash QAR 1.8 billion QAR 6.3 billion QAR 2.8 billion Capex Q
Slide 11: Revenue
Revenue Solid growth driven by continued service revenue momentum Highlights Quarterly YoY Change QAR mn, %YoY (Q2 2026) +195 (Q2 2026) YoY Change +3.2% YoY Group Revenue growth 41 36 23 (1) (14) (60) 122 6,259 123 (75) 6,064 9.6% 2.6% 24.8% -0.6% -2.4% -7.4% 15.7% -4.0% 4 of 8 Markets delivered sta
Slide 12: EBITDA
EBITDA EBITDA growth and margin expansion driven by disciplined execution and change in revenue mix Highlights Quarterly YoY Change +208 QAR mn, %YoY (Q2 2026) (Q2 2026) YoY Change +8.0% YoY 101 2,815 Group EBITDA Growth 13 10 7 6 (1) 20 18 -1.4% 34 5.3% 2.6% 2.1% 2,607 1.9% 35.2% 3.2% 9.2% 7 of 8 M
Slide 13: Net Profit | Reported and Normalised (H1 2026)
Net Profit | Reported and Normalised (H1 2026) Operating performance continues to support net profit growth Net profit attributable to Ooredoo shareholders QAR mn Reported Normalised -5.1% +3.7% 1,921 1,992 1,948 1,849 1H-25 1H-26 1H-25 1H-26 Net Profit reconciliation Reported to Normalised QAR mn H
Slide 14: Net Profit | Reported and Normalised (Q2 2026)
Net Profit | Reported and Normalised (Q2 2026) Operating performance continues to support net profit growth Net profit attributable to Ooredoo shareholders QAR mn Reported Normalised -14.6% +1.9% 978 959 988 843 Q2-25 Q2-26 Q2-25 Q2-26 Net Profit reconciliation Reported to Normalised QAR mn Q2 2025
Slide 15: Capex
Capex Disciplined capex execution to strengthen market leadership and network quality Group Capex | Capex/Revenues Highlights (Q2 2026) Capex YoY Change QAR mn, % (H1 2026) QAR mn (H1 2026) +6.8% Algeria 172 YoY QAR 1,004 million Qatar 63 Total Capex +3.3% YoY Tunisia 40 1,800 1,611 100.0% 1,600 1,5
Slide 16: Free Cashflow
Free Cashflow (FCF: EBITDA-Capex) Strong cash generation supported by operational performance Highlights Quarterly YoY Change +176 QAR mn (Q2 2026) (Q2 2026) YoY Change +10.8% YoY Group FCF Growth 1,811 9 0 176 140 (2) (7) (22) 1,635 (30) (89) 3 of 8 Markets delivered stable or positive FCF growth G
Slide 17: Customers
Customers Strengthening market presence in key growth markets, supported by sustained customer growth Highlights Customers YoY Change +2,178 ‘000 (Q2 2026) YoY Change +4.2% 268 32 14 YoY 748 54,042 (23) (99) Customer base Growth (175) 1,412 5 of 8 51,864 Markets delivered stable or positive customer
Slide 18: Debt and Liquidity
Debt and Liquidity Robust liquidity and low leverage with investment-grade ratings Liquidity & Repayment schedule Fixed vs Floating rate portion QAR mn Key Takeaways 1,814 16% 6,351 Net Debt/EBITDA ratio of 0.6x, below current Board guidance of 1.5x to 2.5x 10,921 8,554 Fixed Floating 1,945 324 189
Slide 19: Guidance achievement progress
Guidance achievement progress Strong first half performance keeps us on track to deliver our FY 2026 guidance KPI Actual H1 2026 Change YoY FY 2026 Guidance QAR 12.5 billion +4.6% 3%-5% Revenue 43.8% +0.6pp Low 40%’s EBITDA1 Margin QAR 1.6 billion +6.8% QAR 5.0-6.5 billion Capex 1 Normalised EBITDA
Slide 20: Operations Review
OPERATIONS REVIEW Fadi Abdellatif | Deputy Group CFO 19
Slide 21: Qatar
Qatar Resilient profitability supported by growth in service revenue H1 Results Quarterly Trend (QAR mn, %YoY) (QAR mn) -4.0% YoY Growth 2,500 Revenue EBITDA EBITDA margin 140.0% 1,856 1,904 1,811 2,000 1,728 1,781 120.0% 100.0% 1,500 REVENUE EBITDA EBITDA MARGIN CAPEX 80.0% 1,000 50.4% 54.1% 50.2%
Slide 22: Kuwait
Kuwait Service revenue resilience supported margin expansion H1 Results Quarterly Trend (QAR mn, %YoY) (KWD mn) -6.8% YoY Growth Revenue EBITDA EBITDA margin 71 70 80 68 67 64 120.0% 70 100.0% 60 CAPEX 50 REVENUE EBITDA EBITDA MARGIN 80.0% 40 60.0% 1,546 558 36.1% 134 33.5% 35.7% 35.4% 36.9% 30 28.4
Slide 23: Oman
Oman Profitability improved on restructuring benefits despite competitive pressure H1 Results Quarterly Trend (QAR mn, %YoY) (OMR mn) -2.4% YoY Growth 80 Revenue EBITDA EBITDA margin 140.0% 70 62 60 62 60 58 120.0% 60 100.0% 50 REVENUE EBITDA EBITDA MARGIN CAPEX 40 80.0% 30 44.9% 45.0% 47.4% 47.2% 6
Slide 24: Iraq
Iraq Sustained growth momentum, supported by customer growth and data usage H1 Results Quarterly Trend (QAR mn, %YoY) (IQD bn) +2.6% YoY Growth 700 Revenue EBITDA EBITDA margin 140.0% 525 523 513 600 500 493 120.0% 500 100.0% 400 REVENUE EBITDA EBITDA MARGIN CAPEX 80.0% 48.6% 300 45.3% 44.6% 44.7% 4
Slide 25: Algeria
Algeria Sustained robust double-digit growth, enabled by a strong operational performance H1 Results Quarterly Trend (QAR mn, %YoY) (DZD mn) +16.4% YoY Growth Revenue EBITDA EBITDA margin 40.000 32,235 33,212 140.0% 35.000 30,818 30,948 30.000 28,543 120.0% 100.0% 25.000 REVENUE EBITDA EBITDA MARGIN
Slide 26: Tunisia
Tunisia Broad-based growth supported by continued 5G FWA and fibre momentum H1 Results Quarterly Trend (QAR mn, %YoY) (TND mn) +6.7% YoY Growth 500 Revenue EBITDA EBITDA margin 140.0% 450 378 367 370 400 347 351 120.0% 350 100.0% 300 REVENUE EBITDA EBITDA MARGIN CAPEX 250 80.0% 200 44.5% 43.8% 40.4%
Slide 27: Maldives
Maldives Sustained EBITDA growth and margin expansion amid a challenging macroeconomic environment H1 Results Quarterly Trend (QAR mn, %YoY) (MVR mn) -0.6% YoY Growth 700 Revenue EBITDA EBITDA margin 581 120.0% 549 548 536 600 539 100.0% 500 80.0% 60.2% 400 REVENUE EBITDA EBITDA MARGIN CAPEX 56.1% 5
Slide 28: Palestine
Palestine Solid growth supported by disciplined execution amid market challenges H1 Results Quarterly Trend (QAR mn, %YoY) (USD mn) +24.8% YoY Growth Revenue EBITDA EBITDA margin 40 140.0% 35 31 27 28 29 120.0% 25 30 100.0% 25 REVENUE EBITDA EBITDA MARGIN CAPEX 20 80.0% 45.0% 60.0% 41.9% 18 41.6% 21
Slide 29: IOH
IOH Strong growth and improved profitability, underpinned by consistent execution H1 Results (IDR tn, %YoY) Revenue (IDR tn) +13.1% YoY Growth 30.7 27.1 REVENUE EBITDA EBITDA MARGIN NET PROFIT* 30.7 14.6 47.8% 4.4 +13.1% +13.9% +0.4PP +75.9% 1H-25 1H-26 EBITDA & Margin Net Profit* Customers (IDR tn,
Slide 30: Appendices
APPENDICES 29
Slide 31: KPIs Technology: H1 2026
KPIs Technology: H1 2026 4G Sites as % of 4G Population 5G Population Total Data Volume 4G Contribution in 5G Contribution in Data Volume Country Total Sites total towers Coverage % coverage % GB total traffic % total traffic % Grow YoY % Algeria 11,249 99.97% 94.50% 13.18% 1,291,034,061 93.47% 3.60
Slide 32: KPIs Commercial: H1 2026
KPIs Commercial : H1 2026 MyOoredoo Number of Churn Data users Digital Post paid as % Country Churn Mobile NPS2 App users RMS1 complaints Fixed Penetration % recharge of total subs Penetration % per 1000 subs Algeria 3% NA - 73% 15% 12% 51% 0.34 9% Iraq 7% NA - 60% 33% 23% 54% 2.2 2% Kuwait 2% 1% -
Slide 33: Blended ARPU
Blended ARPU Qatar (QAR) Iraq (QAR) Oman (QAR) Maldives (QAR) 103 104 107 102 102 23 24 23 22 37 38 38 38 22 36 63 64 66 64 64 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Palestine (QAR) Kuwait (QAR) Tunisia (QAR) Algeria (Q
Slide 34: Opcos general licence information
Opcos general licence information Fixed Licence Mobile Licence Country Issuance date Expiry date Issuance date Expiry date Qatar* 7 October 2007 6 October 2032 7 October 2007 6 October 2027 13 October 1997 Indefinite Kuwait** 29 January 2011 Indefinite 5G: 9 June 2017 Indefinite Iraq -- -- 30 August
Slide 35: Statutory corporate income tax (CIT) rates
Statutory corporate income tax (CIT) rates Statutory Losses Carry Forward Country Comments CIT rate Allowed • No CIT is levied on a corporate entity that is wholly owned by Qatari nationals and GCC nationals that are resident in Qatar and companies listed on Qatar Stock Exchange. • Listed companies
Slide 36: Thank You
THANK YOU @OoredooIR • IR@ooredoo.com • www.ooredoo.com Download our IR app 35