a)

On 8 May 2024, the directors recommended, and shareholders approved on 3 July 2024, a final dividend of 3.57 cents per ordinary share for the year ended 31 March 2024, which was paid on 26 July 2024 to the holders of ordinary shares on the register of members at the close of business on 21 June 2024.

An interim dividend of 2.60 cents per share was also approved by the Board on 24 October 2024 which has been paid on 13 December 2024.

b)

On 20 May 2024, Bharti Airtel International (Netherlands) B.V., subsidiary of the Company repaid in full the 5.35% Guaranteed Senior Notes amounting to $550m on its maturity date. The bond repayment was made exclusively out of the cash reserves of the Group.

c)

During the year ended 31 March 2025, the Nigerian naira has devalued against the US Dollar by approximately 18% (USD appreciation of 15%) where the exchange rate moved to 1,542 naira per USD at the close of the current year as against the rate of 1,303 naira per USD at the close of March 2024. This has resulted in a material impact on the Group’s financial results arising from the translation of monetary items at closing exchange rates in addition to the impact on the valuation of derivatives.

In line with the Group’s policy on exceptional items and alternative performance measures, the impact of the devaluation pertaining to the quarters ended June 2024, September 2024 and appreciation in quarter ended December 2024 for the Nigerian naira has been presented as an exceptional item with the following impact:

• the net derivative and foreign exchange losses amounting to $112m, and
• the corresponding tax impact of $37m.

d)

On 1 March 2024, the Company announced the commencement of its first $100m share buy-back programme to be achieved in two tranches of maximum $50m each. Following the completion of both the tranches of the first buy-back programme, on 23 December 2024 the company has announced the commencement of its second share buyback programme of $100m, to be achieved in two tranches of maximum $50m each. As part of the second share buy-back programme, the Company has entered into an agreement with Barclays Capital Securities Limited (“Barclays”) to conduct the first tranche of the buy-back amounting to a maximum of $50m and carry out on-market purchases of its ordinary shares, with the Company subsequently purchasing its ordinary shares from Barclays. The shares so purchased were being cancelled by the company.

Further, on 28 March 2025, the company announced that all subsequent shares repurchased under the first tranche of the second share buy-back programme will be held in treasury for use in connection with an employee share incentive scheme.

As at 31 March 2024, the company had cancelled 7,389,855 shares against the first tranche of the first buy-back programme. During the year ended 31 March 2025, the Company has completed the buy-back under the first buy-back programme and has commenced buy back under the first tranche of the second buy-back programme. Accordingly, the Company has cancelled 80,231,773 shares (61,444,945 shares against the first buy-back programme and 18,786,828 shares against first tranche of the second buy-back programme), resulting in 3,670,529,876 ordinary shares outstanding as at 31 March 2025. The purchase price of the shares bought-back during the year ended 31 March 2025 was $120m, and the Company carries the liability of $21m relating to the first tranche of the second buy-back programme as ‘other financial liabilities’ relating to the remaining buy-back agreement with Barclays. The nominal value ($0.50 per share) of the cancelled shares during the year ended 31 March 2025, amounting to $40m, has been transferred to the capital redemption reserve.

e)

During the year ended 31 March 2025, the Group has renewed the tower lease agreements with American Tower Corporation (‘ATC’) across four of its OpCos. The renewals relate to approximately 7,100 sites across Nigeria, Kenya, Uganda and Niger which were set to expire over the next 12 to 24 months and were renewed for a period of 12 years.

These material lease extensions of the tower lease agreements represents a modification in accordance with IFRS 16, accordingly, the company has applied modification accounting by remeasuring the lease liability using the updated lease payments over the revised lease term with a corresponding adjustment to the ROU asset. This has resulted in an increase in both lease liabilities and ROU assets by $1,225m.

f)

During the quarter ended December 2024, the Tanzania shilling has appreciated against the US Dollar by approximately 10% (USD devalued of 12%) where the exchange rate moved to 2,445 Tanzania shilling per USD as at 31 December 2024, against the rate of 2,730 Tanzania shilling per USD at the close of September 2024. This resulted in a material impact on the Group’s financial results arising from the translation of monetary items at closing exchange rates in addition to the impact on the valuation of derivatives.

In line with the Group’s policy on exceptional items and alternative performance measures, the impact of the appreciation pertaining to the quarter ended December 2024 for the Tanzania shilling have been presented as an exceptional item with the following impact:

• the derivative and foreign exchange gains amounting to $25m, and
• the corresponding tax impact of $7m.