Notes to the Group annual financial statements

for the year ended 31 May 2025

1. RESULTS OF OPERATIONS
   1. Segmental summary
   2. Revenue
   3. Operating profit
   4. Finance costs and finance income
   5. Earnings per share
   6. Cash generated by operations
2. GROUP COMPOSITION
   1. Investments in and loans to associates and joint ventures
   2. Investments in and loans to Cell C
   3. Bulk airtime purchases from Cell C
   4. Non-controlling interests
   5. Interest in subsidiaries, associates and joint ventures
3. FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT
   1. Financial instruments
   2. Financial risk management
   3. Financial assets
   4. Financial liabilities
   5. Financial instruments at fair value through profit or loss
   6. Fair value measurement
   7. Leases
4. NON-FINANCIAL INSTRUMENTS
   1. Goodwill
   2. Intangible assets
   3. Property, plant and equipment
   4. Right-of-use assets
   5. Inventories
   6. Deferred revenue
5. EMPLOYEES
   1. Equity compensation benefit
   2. Employee compensation benefit expense
   3. Directors' emoluments
6. EQUITY
   1. Share capital
   2. Other reserves
7. TAXATION
   1. Income tax expense
   2. Deferred taxation
8. RELATED PARTIES
9. ACCOUNTING FRAMEWORK
   1. Basis of preparation
   2. Going concern
   3. Standards, amendments and interpretations not yet effective
   4. Other accounting policies
10. SUBSEQUENT EVENTS