Fairvest Limited Class A · JSE:FTA
Fairvest Limited Class A — Investor Presentation (July 2026)
27 slides from Fairvest Limited Class A's investor presentation, Jul 23, 2026
Slide 1: Investor Presentation
INVESTOR PRESENTATION 23 July 2026
Slide 2: Agenda
AGENDA 01 Introduction 02 Parties 03 fibertimeTM 04 Operating model & metrics 05 Road ahead 06 Q&A
Slide 3: Township Fiber Infrastructure
TOWNSHIP FIBER INFRASTRUCTURE • Underserved communities • Overlapping consumer profile we target • Consumer market we understand well • Attractive economics delivered INTRODUCTION
Slide 4: The Parties: Onepath
THE PARTIES Onepath LANDLORD CAPITAL & ASSET MANAGER TENANT Onepath Investments (Pty) Ltd Manages capital requirements and Leases the infrastructure and “Onepath” is currently a controlled fulfils the asset and property operates the network, paying both subsidiary of Fairvest and owns the management
Slide 5: fibertime
FIBERTIME
Slide 6: fibertime™
fibertime™ Free Installation - No Contracts - No Friction R5 a day True Paygo Uncapped Connectivity Mobility Township focussed
Slide 7: Founder & Team Track Record
Founder & Team Track Record HeroTel (2014 – 2022) Alan Knott-Craig founded and built HeroTel into South Africa's largest rural broadband provider. Danvig de Bruyn built Herotel’s fiber business This team is experienced at building fibre infrastructure at scale . Backed by credible investors Piet Mou
Slide 8: The advantage
The advantage
Slide 9: Incumbents, New Entrants, LEO (Starlink)
Incumbents Structural commercial and technological limitations New Entrants Too far behind LEO (Starlink) Physics limit network performance in townships
Slide 10: Road ahead
Road ahead
Slide 11: Growth - Snapshot FY26
Growth - Snapshot Our goal is to connect 20million fibertimers (4x per f’home) by 2030. FY25 FY26 FY27 285k f’timers 1.2 million f’timers Results (3.2x per f’home) (3x per f’home) 1.05 million f’timers 3.05 million f’timers Targets (3x per f’home)` (3.3x per f’home)
Slide 12: The road to 2030
The road Cumulative CAPEX FY2027. _FY2028 FY2029 FY2030 20.0 million fibertimers in 5.0 million fiberhomes by FY2030, on R24.3 billion of cumulative investment. R17.7bn R11.0bn R4.8bn R1.8bn FY2026 o 2030 fiberhomes and fibertimers (millions) @ fiberhomes Ml fibertimers 20.0m 13.6m 72m 5.0m 3.0m S5m
Slide 13: Modern Networks
Modern Networks In Partnership with 1Gbps capability 2nd largest mobile fiber operator (MOFO) in the world
Slide 14: Impact (Value Proposition)
Impact (Value Proposition) fibertimers consumed 24x more data than they would have without fibertime™. FY25 FY26 FY27 R1bn value created for R7bn value created for Results fibertimers fibertimers R6bn value created for R21bn value created for Targets fibertimers fibertimers Value created = Increase
Slide 15: Upside
Upside
Slide 16: Remaining Market Growth
Remaining Market Growth 5million homes Minimum 10x growth left 500,000 fiberhomes
Slide 17: Revenue growth through lower connectivity price
fibertime™ can (and will) increase revenue by decreasing the price of connectivity Revenue = Days/Devices Effective Customers Online Per price per day per home Month online
Slide 18: Increase Adoption
Increase Adoption 30 days 13 Days Online Per Month 4 People 3.1x Customers Per Home 14% - Second 100% Devices Connected
Slide 19: Slide 19
Slide 20: How the Model Works
HOW THE MODEL WORKS OPERATING MODEL & METRICS
Slide 21: Operating Model
OPERATING MODEL No development or take-up risk A proven sale and leaseback model – yielding from acquisition 1 fibertimeTM builds, connects, leases and operates the network Downside protection through Onepath acquires the network at cost once 2x fixed rental fixed rental cover 2 cover* is achieved b
Slide 22: Metrics - Onepath
METRICS - ONEPATH Capital deployed Networks owned Homes connected R1.67bn 31 383k R77m 2 16k Mar 25 Sep 25 Mar 26 Current Mar 25 Sep 25 Mar 26 Current Mar 25 Sep 25 Mar 26 Current 14.4% 14.9% 15.1% Net yield Mar 25 Net yield Sep 25 Net yield Mar 26 Distribution yield increased while capital deployed
Slide 23: Metrics - Fairvest's Investment
METRICS - FAIRVEST’S INVESTMENT R1.5bn ▪ Returns to date have been ungeared with credit approved R947m debt terms in place for up to 30% loan to cost R694m ▪ With the introduction of gearing over the coming months, equity yields expected to increase from the ungeared returns achieved to date Mar 26
Slide 24: Road Ahead
ROAD AHEAD
Slide 25: Road Ahead
ROAD AHEAD SA’s township market millions of homes connected 15 - There are an estimated 15 million homes in South African townships, with only ~20% connected to the internet - fibertimeTM is on track to connect 1 million homes by 2027 and is targeting 2 million homes by 2028, with 5 its long term ro
Slide 26: Q&A
Q&A
Slide 27: Thank You!
antonie@refiber.co.za andrew@refiber.co.za simon@refiber.co.za THANK YOU!