Gateway - Vodacom

1 GatewayAnalyst presentation fAf iitiiLeading provider of pan-African communication servicesDelivers the platform for growth in African total communications solutions Leading provider of pan-African voice and data connectivity services to the African mobile industry Leading provider of managed network IT solutions to multinational corporations operating in AfricaBlue-chip global customer-baseBlue-chip African customer-baseGatewayRapid growth in demand for Africa s most extensive network directly connecting 40 countriespgAfrican telecoms infrastructureLocal presence in 13 African countries with strong and broad management teamAnalyst presentation i ttiititkAfrica s most extensive communications networkDirect connectivity into 40 African countriesTeleports (Belgium, UK, USA and Germany)

2 Full IP, Next Generation NetworkNetworkGatewayPOPL ondon/Brussels/ New YorkInternational carriersWACS cable Network connects 40 countries across AfricaSEACOM cable Sat-3 cable 43 equivalent transponders of satellite capacity1 Satellite capacity suppliers include Intelsat and SES Newskies Major satellite hubs in 5 African countriesAfrican office SAT-3 and SEACOM cable capacity, WACS plannedNote:1 Equivalent to a 36 MHz transponderGateway operationsAnalyst presentation 2009 EtithdExtensive on-the-ground presenceStrong and broad management team with unparalleled African experience Sales and support officeMali Group headquarters (finance and sales)UK Regional office Major hub (sales and technical support)

3 Nigeria Support officeSierra LeoneCote d Ivoire Major technical and support centreBelgiumK Support officeUganda Support and technical offices West and North AfricaGhanaTanzania Support and sales officeKenyaGateway SeychellesCameroon East Africa and Angola headquartersMozambique West and North Africa headquarters Sales, support and technical officeFrance Support officeAngola Central Africa headquarters Sales, support and technical officeCameroonM jh b ffiSouth AfricaZimbabweAngola headquarters Sales, Support and Technical office Commercial and sales Switzerland Sales office Sales, support and technical officeAngola Sales and support office being establishedDRC Major hub office, Southern Africa headquarters Support officeofficeAnalyst presentation relationships in key industriesLong-term blue chip customer baseAfrican mobileInternational carriersGatewayInternational carriersBanking and financeOil & GasAnalyst presentation fbiContribution and gross margin by line of business Gross margin contribution by line of business (9M 2008)32484048531032 Inbound voiceOutbound voiceData servicesData & ternetOther VSATOG atewaySource:GatewayNote.

4 1 Other includes e-commerce services, equipment sales and operations and maintenanceDInOInbound voice55%Data services18%VSATO ther17%Revenue contribution by line of business (9M 2008)55%Outbound voice27%18%VSAT51%Data & Internet32%17%27%Source:GatewayAnalyst presentation at a glance9M 2007 Growth1(%)9M 2008 Year-end December9M 2007 Growth(%)Number of voice minutes (m)9M 20088131, DecemberRevenue (US$m) (US$m) margin (%) VSAT sites9711, :1 Year-on-year growth for the nine month period to 30 September 2008 Analyst presentation best positioned for growth in total communicationsGateway has a track record of success in total communications and is best positioned to lead growth in the pan-African total communications marketFocus on high-growth Local on-the-ground Pan-African marketspresenceInfrastructurePan-African connectivity for mobile operatorsBlue-chip customer baseMeet the needs of MNCs in AfricaGatewayFdtifAf it t li tibiFoundation for pan-African total communications businessAnalyst presentation

5 TidthdtitiGateway provides growth and synergy opportunitiesAccelerates international expansion Broadens Vodacom s international footprint into key regional markets, especially Nigeria Provides platform for further regional expansionProvides platform for further expansion Opens new growth markets in Africa and allows Vodacom to exploit growth in mobile services without GSM footprint expansion, Complements Vodacom Businessp Leverages Vodacom s capital strength to accelerate Gateway s growthStrengthening of totalGateway Provides access to Gateway s blue-chip corporate customer base Places Vodacom at the heart of African broadband growth storyStrengthening of total communications strategy Cost savings from satellite operations, vertical integration and procurement Further potential upside through co-operation with Vodafone operationsGroup synergiesAnalyst presentation tiCiS iiGateway Communications Carrier Services overviewGateway provides the highest quality inbound.

6 Outbound and intra-African voice and data connectivity services One of the largest providers of carrier network solutions in Africa Extensive satellite network and multiple sub-sea fibre landing points Major clients include Vodacom Zain and Millicom as well as major European and global carriers Major clients include Vodacom , Zain and Millicom, as well as major European and global carriersInbound voice servicesOutbound voice servicesIntra-Africa connectivityGATEWAYG atewaySatellite dishSatelliteSatellite dishVSAT BandwidthModemVSAT HubModemVSAT HubInternational wholesale and retail carriers and partner operatorsAfricanoperatorsInternational wholesale and retail carriers and partner operatorsAfricanoperatorsRouterRouterHub HubModem BankModem BankMSCV eraz iGateMedia GatewayVeraz iGateMedia GatewayRadio towerRadio towerRadio towerModemRouterModemRouterFixed or Mobile Operator BFixed or Mobile Operator AMSCR adio towerGatewayPOPR

7 Adio towerRadio towerGatewayPOP Gateway provides African interconnection to international Gateway provides international network connection for African Gateway provides intra- Africa network connectivity for the Fixed or Mobile Operator BFixed or Mobile Operator Atelcos for the completion of calls originated internationallytelcos for the completion of international callscompletion of calls between African telcosAnalyst presentation iDtCarrier Services DataGateway is the leading provider of cellular backhaul and internet services in Africa, providing high-quality, reliable connectivity for mobile networksGACellular backhaulMobile internet (GPRS / 3G)

8 ATEWAYG atewayPublic Internet & Private IP Gateway provides national connectivity to allow mobile operators to connect switches and cell sites within a particular Gateway provides high speed internet connectivity to mobile operators to support the roll-out of GPRS and 3G services Gateway has recently launched IPJetDirect, an enhanced internet idtthitfllltpcountry Gateway provides international leased-lines for voice, data and signaling trafficservice geared to the requirements of cellular operatorssignaling trafficAnalyst presentation i Competitiveness Service offering Leading competitive position Carrier ServicesGateway s unique business model makes it well suited for serving the African market Operato r African focus Pr ic e Quali ty Vo ic e Da ta Sate lli te VA S1 Cellular Backhaul Gateway Carrier Servi ces 9 9 9 9 9 Belgacom

9 I nternational 998 9 8ators Carrier Services 9 98 9 8 F rance Tel ecom 9 9 9 9 8 British Telecom 9 9 9 9 8 Global opera T-Systems (subsidiary of Deutsche Telekom) 9 9 8 8 8 Taide (subsidiary of Telenor) 9 9 9 8 8 Tl Itli 9 GatewayGlobal Telecom Italia 9 9 9 9 8 IDT 9 8 8 9 8 Tata VSNL 9 9 9 9 8 African Mednet 9 9 8 9 8 M-Link 9 9 9 9 8 her Gl obal Voice 9 9888 Global VoiceAfricanerOth Intelsat

10 8 9 9 8 9 HighLowSource: Gateway estimatesNote:1 Value added servicesOtheAnalyst presentation services voiceRevenue per quarterNumber of voice minutes941041091101052493423854064293961 9 42919,34818 93247,31253,97558,18560,16758,345 Revenue per quarterNumber of voice minutes$ thousandsMillions15216324828129731929121 869417324920,88321,53230,29135,16138,756 40,81939,41312,55615,77517,02118,81419,4 2919,34818,93233,43937,307Q107Q207Q307Q4 07Q108Q208Q308 OutboundInboundQ107Q207Q307Q407Q108Q208Q 308 O