6. Revenue

The Group’s segment information is provided on the basis of geographical clusters and products to the Group’s Chief Executive Officer (chief operating decision maker – ‘CODM’) for the purposes of resource allocation and assessment of performance.

The Group’s operating segments are as follows:

Nigeria mobile services – Comprising of mobile service operations in Nigeria;

East Africa mobile services – Comprising of mobile service operations in Uganda, Kenya, Zambia, Tanzania, Malawi and Rwanda;

Francophone Africa mobile services – Comprising of mobile service operations in Democratic Republic of the Congo, Chad, Niger, Gabon, the Republic of the Congo, Madagascar and Seychelles;

Mobile money* – Comprising of mobile money services across the Group.

*Mobile money services segment consolidates the results of mobile money operations from all operating entities within the Group. Airtel Money Commerce B.V. (AMC BV) is the holding company for all mobile money services for the Group, and as of 31 March 2026 it controls all mobile money operations excluding operations in Nigeria.

Each segment derives revenue from the respective services housed within each segment, as described above. Expenses, assets and liabilities primarily related to the corporate headquarters and centralised functions of the Group are presented as unallocated items.

The amounts reported to CODM are based on the accounting principles used in the preparation of the financial statements. Each segment’s performance is evaluated based on segment revenue and segment result.

The segment result is Underlying EBITDA (defined as operating profit/(loss) for the year before depreciation, amortisation and exceptional items relating to operating profit, if any). This is the measure reported to the CODM for the purpose of resource allocation and assessment of segment performance. During the year ended 31 March 2026, the definition of EBITDA was equal to Underlying EBITDA since there were no exceptional items pertaining to EBITDA and therefore EBITDA is presented in the segmental information below. During the year ended 31 March 2025, the segment result is Underlying EBITDA as there was an exceptional item pertaining to EBITDA.

Inter-segment pricing and terms are reviewed and changed by management to reflect changes in market conditions and changes to such terms are reflected in the period in which the changes occur.

The ‘Eliminations’ column comprises inter-segment transactions eliminated upon consolidation.

Segment assets and segment liabilities comprise those assets and liabilities directly managed by each segment. Segment assets primarily include receivables, property, plant and equipment, capital work in progress, right-to-use assets, intangibles assets, inventories and cash and cash equivalents. Segment liabilities primarily include operating liabilities. Segment capital expenditure comprises investment in property, plant and equipment, capital work in progress, intangible assets (excluding licences) and capital advances.

Investment elimination upon consolidation and resulting goodwill impacts are reflected in the ‘Eliminations’ column.