Itissalat Al Maghrib IAM S A : Maroc Telecom - 2023 half year Financial Report 26/07/2023

FINANCIAL

REPORT

2023

Half year

Preliminary remarks:

This financial report and the condensed financial statements for the half year ended June 30th, 2023 were approved by the Management Board on July 13th, 2023, and reviewed by the Audit Committee at its meeting on July 24th, 2023.

This report should be read in conjunction with the Management Board's report for the year ended December 31, 2022 as published in Registration Document as filed with the Securities Regulator (AMF) on March 29th, 2023 ("2022 universal registration document").

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CONTENTS

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Highlights

January 2023

• In Morocco, enhancement of the credit financing method for Mobile handsets with new 18-month and 24-month plans;
• In Morocco, launch of the new games and e-Sport portal "Playzone", replacing the "Playweez" service, and integration of additional services;
• From January 1, 2023, national Mobile call termination rates decreased in Gabon (from FCFA 6/min to FCFA 5/min), in Mali (from FCFA 2.5/min to FCFA 2.0/min), in Niger (from FCFA 3.5/min to FCFA 2.7/min), in Chad (from FCFA 14/min to FCFA 12/min) and in the Central African Republic (from FCFA 35/min to FCFA 12/min for incoming and FCFA 10/min for outgoing);
• In Niger, elimination, through the 2023 Finance Law, of the Tax on the Termination of Incoming International Traffic;
• In the Central African Republic, introduction, following the promulgation of the 2023 Finance Law, of a "Tax on intervention and technical control of electronic communications" at 7% of the amount excluding tax invoiced
  (national Voice, Data and SMS traffic).

February 2023

• In Morocco, launch of the Shahid service, the world leader in Premium Arab VOD content;
• In Morocco, exclusive launch of a new *88 Pass dedicated to young Mobile gamers. This new Pass offers Internet access to the most popular games (Free Fire, PUBG, League of Legends, etc.) as well as Discord, the popular social network for gamers;
• In Morocco, enhancement of the *7 Roaming Pass by increasing the Data volume from MAD 100 and adding new destinations;
• In Morocco, launch, by the ANRT and the DGSSI, of a consultation for the implementation, management and turnkey administration of an Internet exchange point (IXP) in Morocco;
• In Mali, relaunch, by the regulator, of the process to identify subscribers with requirements, for subscriptions from February 1, 2023, an identification exclusively on the basis of the National Identification Number (NINA);
• In Togo, 5G frequencies were assigned by the regulator to the subsidiary, following its request, for testing over a period of 12 months.

March 2023

• In Morocco, introduction of the plan for the provision of Fiber Optic routers, for an average cost of MAD 200 for Wi- Fi 5 and MAD 400 for Wi-Fi 6, for better accessibility to Fiber Optic offers;
• In Morocco, launch of "Backup as a Service", a managed backup solution that allows B2B customers to recover data automatically and periodically and secure them on the sovereign Cloud, hosted in the Maroc Telecom Datacenter. The service is offered through monthly subscription plans starting at MAD 590 excluding tax/month, for 250 GB of backup volume;
• In Morocco, extension of the *6 Pass to the Discord social network, one of the most popular online communication platforms for gamers;
• In Burkina Faso, creation, by decision of the Council of Ministers, of the Patriotic Support Fund (FSP) providing for a contribution of 5% borne by customers.

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April 2023

• In Morocco, expansion of the current Internet Pass range with the addition of new Passes: 3 GB for MAD 30 and 10 GB for MAD 100;
• In Morocco, launch of the *77 Africa Roaming Pass, valid in 38 destinations, in order to strengthen the position as leader in roaming offers on the African continent. The Pass offers 3GB + 20min + 20SMS, for MAD 300 and is valid for 14 days;
• In Morocco, enrichment of the Gaming offer with the launch of the new Disney Club games service, bringing together more than 100 games from major studios such as Disney, Marvel, Pixar and Star Wars;
• In Mauritania, decision of the Regulatory Authority introducing new measures for sales of SIM cards, including the limitation of sales to the operator's own branches and the biometric identification of all customers within six months.
• In Togo, launch of the number portability project with the target of being operational from October 2023.

May 2023

• In Morocco, launch of the new Azure Public Cloud service of the Microsoft hyperscaler, one of the world's leaders in hosting solutions;
• In Morocco, launch of the SaaS (Software as a Service) e-learning version hosted in a sovereign national cloud and installed in a highly secure Maroc Telecom's Datacenter, in addition to the On-Premise version;
• In Morocco, lowering of the subscription price of the Premium OSN+ offer to MAD 60/month instead of MAD 89/month and enhancement of the range with the new OSN+ Standard plan at a price of MAD 35/month, reserved for individual use on Mobile;
• In Benin, decision on the guidelines for national roaming, considering the latter an obligation for operators and with a scope covering the national territory.

June 2023

• In Morocco, increase in FTTH upload speeds and their alignment with download speeds. The upload speed of the 100 Mega plan will increase from 50 Mega to 100 Mega and that of the 200 Mega plan will increase from 100 Mega to 200 Mega. This upgrade is valid for new and old Fiber Optic customers;
• In Burkina Faso, signature, on June 30, 2023, of a decree establishing a special contribution of 5% on the purchase of credit for prepaid Mobile services;
• In Mauritania, publication of the Moov Mauritel interconnection and access catalog for 2023-2024. This mainly resulted in a decrease in Mobile call termination from MRU 0.16 to MRU 0.15/min from July 1, 2023;
• In Mauritania, two new provisions were introduced by the 2023 Amending Finance Law passed in June 2023: an increase in the VAT rate on telecom services from 16% to 18% and the introduction of a new 5% tax on the revenue of telecom operators.

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