Grameenphone Ltd.

The Year 2012

Vivek Sood, CEO

2012: Stronger Economy

Kept GDP Growth momentum ~6.3% Moderate single digit Inflation 2.5% currency appreciation Record high foreign currency reserve 31% power tariff hike 14% industry subscriber growth

2012: A Happening Year

Subscriptions (Mn) and Market Share

2G License renewal

36.5
Intense competition Regulatory directives Operational excellence Healthy bottom line

40.0
+9.7%

30.0

44%

43%

41%

2010
Growth%

2011

2012

2012: Turning around the Market

Rebalancing value for money Distribution and retail engagement Market visibility Focus on retention Customer centricity Winning every day mindset

2012: Promising trend from non voice

Growing data users

Internet Utshab Affordable mini-packs

SMS and mobile contents Contributing adjacent business

GPIT Wholesale

2012: Maintaining Superior Network Quality

Ensure best coverage and quality Uphold best network perception Efficient utilization of national asset Promoting green technology; 162 solar power base stations Modernized network ready for future technology

99%+ population ~90% geographic

40% less energy & footprint

2012: Recognition by Experts from Home & Abroad

Connected World Awards Emerging Market Service Provider of the Year Best Presented Annual Report for 2011 Best Investor Relations Practice

2012: Regulatory Landscape

BTRC Directive on Tariff Structure
Implemented 10-sec pulse billing and eliminated call setup charges.

BTRC Directive on new SIM Registration Process

Discontinued sale of pre-activated SIMs. Implemented new registration process involving activation upon ID verification.

VAT on 2G License Payments

Implementation of intra-ministerial resolution not yet in place.

Upcoming 3G License
Waiting for final round of consultation. Auction date to be set after final guideline.

National Telecom Policy

MoPT invited for public consultation.

Grameenphone Ltd. The Year 2012

Fridtjof Rusten, CFO

2012: Single digit Revenue growth, stable EBITDA%

Revenues (BDT Bn) and EBITDA%

Single digit revenue growth

Tariff directive by regulator Increased competition Rural penetration, ARPU dilution

89.1 74.7

91.9

+3.2%

50%

53%

53%

Increasing contribution from non-voice and adjacent business Increased regulatory opex and market spending Inflation and energy price hike Continuous cost optimization

2010

2011

2012

Revenues (BDT Bn) and EBITDA%

22.8 23.2 23.2

22.9

22.6

- 0.8%
55%

55%

52%

52%

54%

Q4'11

Q1'12

Q2'12

Q3'12

Q4'12

Revenue Growth% YoY

10

2012: Improving underlying net profits

Net Profits (BDT Bn) and NPAT%

Amortization cost of 2G license from Q112

10.7

18.9

17.5
- 7%

Notional interest cost against 2G license payments from Q312 Interest payments on debt

14%

21%

19%

2010

2011

2012

Lower income tax expenses

Net Profits (BDT Bn) and NPAT%

6.5 5.2 4.5
3.2 28%

- 29%
4.6

22%

19%

14%

20%

Q4'11

Q1'12

Q2'12

Q3'12

Q4'12

Net Profit Growth% YoY

11

2012: Key Financial Figures

EPS impacted by amortization and interest costs Lower NOCF from higher income tax, interest, and vendor payments Reduced net asset value from dividend payments
2010 2011 2012

Earnings per Share (BDT)

13.99 12.96

7.93

NOCF (BDT Bn) and NOCF/Share (BDT)

40.6 31.3 30.09 22.23 30.0

NAV (BDT Bn) and NAV/Share (BDT)

50.4 38.9 37.31 35.5 26.26

23.16

28.80

2010

2011

2012

2010

2011

2012

12

2012: Continued investment and contribution

Capex (BDT Bn) and Capex/Sales%

BDT 12.6Bn* investment in 2012 to improve network quality, BDT 213Bn since inception Increased contribution to government exchequer, BDT 309Bn since inception Striving for the betterment of shareholders and the nation at large

13.0

12.6 *

8.5

11.3%

14.6%

13.7%

2010

2011

2012

Contribution to Government (BDT Bn)

60.1 13.5 37.2 46.6 52.8 63.6 10.8

2010

2011

2012

2G License payments * Excluding 2G License 13

2012: Final Dividend for 2012

Recommended final dividend for 2012 @BDT 5 per share. Total cash dividend for 2012 BDT 14 per share including BDT 9 per share cash interim dividend. Record date for entitlement 20th Feb12 Subject to approval in the 16th AGM on 10th April 2013.

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Q&A

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