Grameenphone (GP) investor relations material

Executive summary

• Subscriber base grew by over 2 million to 86.3 million, with data penetration surpassing 60%.

• Achieved sequential revenue and earnings growth in Q2 2026, despite year-over-year declines due to a weaker second half of 2025 and Q1 2026 performance.

• Digital engagement increased, with MyGP active users at 23.2 million and digital reloads accounting for 46% of transactions; digital business contributed one-third of core telecom revenue.

• Network modernization advanced with over 1,000 sites on the 700 MHz spectrum, enhancing coverage and capacity.

• Sustainability initiatives included recycling 46 tons of e-waste and procuring 200 GWh of renewable energy.

• Interim financial statements for the six months ended 30 June 2026 were audited and present fairly in accordance with IFRS.

Financial highlights

• Revenue for Q2 2026 was BDT 40 billion, down 3% year-over-year but up 6% sequentially from Q1; revenue for the six months ended 30 June 2026 was BDT 77.40 billion, down from BDT 79.38 billion year-over-year.

• EBITDA improved 6.6% quarter-on-quarter but declined 6.1% year-over-year, with a margin of 58%.

• Net profit rose 14.7% sequentially but fell 6.5% year-over-year, with a normalized margin of 19%; net profit for the period was BDT 14.21 billion, compared to BDT 15.13 billion in the prior year.

• Operating costs increased by only 1.8% year-over-year despite inflationary pressures.

• CapEx reached BDT 5.5 billion in Q2, focused on network and digital capability investments.

• Interim dividend of BDT 10.50 per share declared for 1H 2026, with a 99.8% payout ratio.

Outlook and guidance

• Focus remains on monetizing improved customer metrics and sustaining revenue recovery in Q3, with continued investment in network expansion and digital transformation planned for the second half of 2026.

• Cost discipline and operational efficiency will remain priorities amid a volatile macroeconomic environment.

• Management continues to monitor ongoing regulatory and tax disputes, with no provision made for significant contingent liabilities.

• The company expects to maintain business continuity, supported by strong liquidity and capital structure.