COMPANY ANNOUNCEMENT

The following is a Company Announcement issued by GO p.l.c. ("the Company") pursuant to the Capital Markets Rules as issued by the Malta Financial Services Authority in accordance with the provisions of the Financial Markets Act (Chapter 345 of the Laws of Malta) as they may be amended from time to time.

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Group Interim Unaudited Financial Statements

In a meeting held earlier today, the Board of Directors of the Company approved the attached Group Interim Unaudited Financial Statements for the six-month period ended 30 June 2022.

The Board of Directors has also authorised the publication of the same Financial Statements which will be available for viewing on the Company's website at: https://prodcms.go.com.mt/wp- content/uploads/2022/08/GO-Interim-FS-Jun-2022.pdf

The Board of Directors further approved the payment of an interim dividend of €0.06 net of taxation per share. The payment of this Net Dividend amounts to the total sum of €6.1 million.

The interim dividend will be paid on Friday 9 September 2022 to all shareholders who appear on the shareholders' register of Friday 26 August 2022.

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Dr. Francis Galea Salomone LL.D.

Company Secretary

9 August 2022

GO plc, Fra Diego Street, Marsa, MRS 1501 Malta PO Box 40, Marsa MRS 1001 t. +356 2124 6200 e. customercare@go.com.mt

Company Registration Number: C22334 VAT Number: MT 12826209

go com mt

LTRH ‐ Apr 15 - 317

GO p.l.c.

Condensed Consolidated

Interim Financial Statements

For the Period 1 January 2022 to 30 June 2022

Company Registration Number: C 22334

GO p.l.c.

Condensed Consolidated Interim Financial Statements

For the period 1 January 2022 to 30 June 2022

Contents

Pages

Directors' Report pursuant to Listing Rule 5.75.2

1 - 3

Condensed Consolidated Interim Financial Statements:

Condensed Consolidated Interim Statement of Financial Position

4 - 5

Condensed Consolidated Interim Statement of Comprehensive Income

6

Condensed Consolidated Interim Statement of Changes in Equity

7 - 8

Condensed Consolidated Interim Statement of Cash Flows

9 - 10

Notes to the Condensed Consolidated Interim Financial Statements

11 - 20

Statement pursuant to Listing Rule 5.75.3

21

Independent Auditor's Report on Review of Condensed Consolidated

Interim Financial Statements

GO p.l.c.

Directors' Report pursuant to Listing Rule 5.75.2

For the period 1 January 2022 to 30 June 2022

This Half-Yearly Report is being published in terms of Chapter 5 of the Listing Rules of the Listing Authority - Malta Financial Services Authority and the Prevention of Financial Markets Abuse Act, 2005. The Half-Yearly Report comprises the reviewed (not audited) condensed consolidated interim financial statements for the six months ended 30 June 2022 prepared in accordance with International Financial Reporting Standards adopted for use in the EU for interim financial statements (International Accounting Standard 34, "Interim Financial Reporting"). The condensed consolidated interim financial statements have been reviewed in accordance with the requirements of ISRE 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". The comparative statement of financial position has been extracted from the audited financial statements for the year ended 31 December 2021.

Principal activities

GO p.l.c. ("GO") is a leading electronic communications services provider in Malta offering fixed and mobile telecommunications services, TV services, and high-speed broadband and other digital connectivity services.

GO is a publicly traded entity on the Malta Stock Exchange and the parent company of GO Group ("the Group"). The Group provides data centre and ancillary services in Malta through its majority stake in BMIT Technologies p.l.c. ("BMIT"), as well as fully fletched fixed and mobile electronic telecommunication services in Cyprus through its majority stake in Cablenet Communications Systems p.l.c. ("Cablenet").

Review of financial performance

During the six-month period ending 30 June 2022, the Group generated revenue amounting to €106 million, an increase of €12.1 million or 12.9% compared to the first half of 2021.

During the period under review, local telecom services increased by €7.3 million closing at €63.7 million. This resulted mainly from a growth in GO's fixed broadband and mobile customer base subscribers, a partial recovery of roaming revenue and other international wholesale business, and comparatively higher levels of supply and maintenance of hardware and telecoms equipment.

Data centre operations remained challenging particularly due to increasing technology-driven competitive pressures and global supply chain issues resulting in customer project delays. Notwithstanding these challenges, BMIT registered gross revenue of €12.6 million, implying a marginal decline of just over 1% compared to the first half of 2021.

Cablenet's revenue amounted to €30.1 million, an increase of €4.5 million or 17.4% over the same period last year. This revenue growth reflects subscriber gains from higher market share and the expansion of network footprint.

Group cost of sales amounted to €66.3 million (2021: €59.2 million). The increase of €7.1 million or 11.9% over 2021 is largely attributable to higher cost of goods sold as a result of the significantly higher sales of hardware and other telecoms equipment, new network support agreements following the launch of the 5G mobile network and the new operational costs of the PEACE submarine cable. Despite higher cost of sales, the Group registered a 14% increase in gross profit and 1% increase in the gross profit margin when compared to the first half of 2021.

Administrative expenses remained close to the levels of the first half of 2021, and amounted to €26.1 million (2021: €25.5 million). The increase includes one-off staff compensation and legal expenses of around €0.5 million incurred by Cablenet.

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GO p.l.c.

Directors' Report pursuant to Listing Rule 5.75.2

For the period 1 January 2022 to 30 June 2022

Review of financial performance - continued

Consolidated EBITDA for the first six months of 2022 amounted to €41.2 million (2021: €34.8 million). Depreciation and amortisation increased by €1.3 million reflecting higher levels of investment in network expansion and other strategic assets across the Group while net finance costs increased by €0.9 million. Consolidated profit before tax for the first six months of 2022 amounted to €12.1 million (2021: €7.9 million).

The Group generated net cash flows from operating activities of €38.2 million, an increase of 40% over 2021, enabling the Group to fund higher levels of investments which amounted to €35.4 million (2021: €29.9 million).

Consolidated total assets as at 30 June 2022 amounted to €368.1 million (31 December 2021: €368.6 million). In May 2022, Cablenet capitalised its 4G and 5G spectrum frequencies resulting in an increase in Right-of-Use Assets of €15.9 million and a corresponding increase in Right-of-Use Liabilities of €10.6 million.

During the first 6 months of 2022, borrowings net of cash holdings increased by €16.7 million to reach €104.5 million. Total Equity as at 30 June 2022 stood at €104.6 million representing 28.4% of total assets (31 December 2021: 29.8%).

Commentary on COVID-19 pandemic

The Group's financial performance in the first half of 2022 has not been materially impacted by the ongoing effects of the pandemic.

Economic data has shown good recovery with levels of economic activity reaching levels observed in 2019 across various sectors with some surpassing pre-COVID-19 levels. Going forward, in view of the facts that a significant percentage of the population worldwide, including Malta and Cyprus, has been vaccinated, that the dominant variants of the virus, in most cases, do not lead to serious illness and to hospitalisations and that many Governments including the Maltese and Cypriot Governments, abolished almost all protective measures against COVID-19 gradually returning back to prior COVID- 19 normality, the Group does not foresee any major adverse effects from the pandemic which could significantly affect its financial results and forward looking statements in a negative way.

Commentary on Ukrainian crisis

The Group generates its revenues through the provision of telecoms and data centre services to customers based in Malta and Cyprus and is therefore not directly exposed to Russian or Ukrainian customers. Indeed, while Cablenet offers services to a Cyprus-based entities of which a few may have Russian or Ukrainian nationality or ownership, such customers represent an immaterial part of the Company's revenue and no impact on such customers or their revenues and payments has been noticed. Furthermore, the Group does not have any direct material reliance or dependency on Russian or Ukrainian suppliers.

The more pronounced effects on the Group have so far been indirect, such as higher costs of transportation and inputs of energy or commodity-based (i.e. steel or copper) material employed in operations and networks.

The Group's TV platforms in Malta and Cyprus discontinued the broadcasting of Russia-originating TV channels in line with EU directives and other commercial considerations.

Management is closely monitoring the situation and is ready to act depending on the developments.

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GO plc published this content on 09 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2022 15:38:09 UTC.