Global Telecom E : GTH separate English Q4 2021

Separate financial statements

Global Telecom Holding S.A.E.

As of and for the year ended December 31, 2021

Together with the Auditor's Report

Translation of separate financial statements Originally issued in Arabic

Global Telecom Holding S.A.E.
Separate statement of financial position as of
December 31,	December 31,
Note	2021	2020
0.3	0.3
468.8	377.1
469.1	377.4
515.0	44.3
4.1	4.3
0.2	3.3
519.3	51.9
-	423.2
988.4	852.5
978.1	843.6
978.1	843.6
-	0.5
10.3	8.4
10.3	8.9
10.3	8.9
988.4	852.5

(In millions of USD)

Assets Non-current assets

Investments in subsidiaries 11

Due from related parties 13

Total non-current assets

Current assets

Due from related parties 13

Other financial assets 14

Cash and cash equivalents 16

Total current assets

Assets held for sale 12

Total assets

Equity and liabilities Equity

Total equity

Liabilities Current liabilities

Due to related parties 13

Other financial liabilities 15

Total current liabilities

Total liabilities

Total equity and liabilities

On behalf of the Board of Directors

Gerbrand Nijman

Managing Director and Vice-Chairman

Auditor's report "attached"

The accompanying notes from (1) to (24) are an integral part of these separate financial statements.

1

Translation of separate financial statements Originally issued in Arabic

Global Telecom Holding S.A.E.

Separate statement of income

For the year ended December 31 2021

2020
Note	Represented*
(In millions of USD, except per share amounts)
Continuing operations
Other operating expenses	4	(3.3)	(8.0)
Other income	5	108.2	104.4
Other expenses	6	(10.9)	(10.6)
Total operating profit	94.0	85.8
Finance cost	7	-	(50.3)
Finance income	8	18.9	28.4
Net foreign exchange (loss) / gain	(2.8)	0.7
Profit from continuing operations	110.1	64.6
Discontinued operations
Profit from discontinued operations, net of tax	9	4.3	9.5
Profit for the year	114.4	74.1
Basic and diluted earnings per share
from continuing operations	10	0.023	0.014
from discontinued operations	10	0.001	0.002
0.024	0.016

* Some of comparative figures of the statement of income for the year ended December 31, 2020, have been represented to discontinued operations after the sale of the Algerian subsidiary Omnium Telecom Algerie SpA, in addition to Oratel International Inc. and Moga Holding Ltd. to the VEON group in August 2021, and to be consistent with the current year presentation, which is mainly representing of dividend income received from Omnium Telecom Algerie SpA and Oratel International Inc, together with the withholding tax on dividend related to these dividends.

The accompanying notes from (1) to (24) are an integral part of these separate financial statements.

2