Telecom Egypt S Regulatory News (TEEG)

Telecom Egypt announces changes to board structure and executive management

March 28, 2023: Telecom Egypt today announces that Eng. Mohamed Nasr Eldin Mohamed Ali has been appointed as Managing Director and CEO of the company to succeed Eng. Adel Hamed Ibrahim Gadallah. The board of directors (the "Board") has accepted Eng. Adel Hamed's request to be relieved from the position of Managing Director and CEO to assume a new role at the Ministry of Communications and Information Technology. However, Eng. Hamed will remain on Telecom Egypt's board of directors as a non-executive member. The Board meeting held today has approved these changes and are effective immediately.

Dr. Magued Osman, Chairman of the Board, commented:

"The Board appointed Eng. Mohamed Nasr ElDin as the new Managing Director and CEO given his track record and profound ICT experience, including his previous role as Head of Telecom Egypt's International Cables and Networks Business Unit in 2014. We are confident he is the ideal candidate to take over the helm and maintain Telecom Egypt's leadership in various areas at the local and international levels, while continuing to drive quality and sustain customer base growth, maximizing our assets and creating value for all our stakeholders and the society at large. We wish him success in his new role. I would also like to thank former Managing Director and CEO Eng. Adel Hamed for his distinguished efforts and successful leadership of the company despite the many challenges we faced in the previous period. I wish him all the best in his new position and future endeavors."

Eng. Mohamed Nasr Eldin, Managing Director and Chief Executive Officer, commented:

"I'd like to thank Telecom Egypt's Board of Directors for entrusting me with the role of Managing Director and CEO at this critical juncture. I am eager to work with the Board and executive management team to achieve greater success for the company and further develop our customer-focused culture, all while looking out for the best interests of all other stakeholders, including shareholders, investors, and partners. I will devote all my efforts to execute the company's vision and strategy of becoming the leading ICT provider while maintaining and growing its position as the leading integrated telecom operator. My priorities include developing and diversifying the mix of services to suit our rapidly-evolving customer needs, providing distinguished customer experience at all levels and expanding our customer base. I also look forward to leveraging the company's distinguished pool of talent to maximize all available opportunities for success and growth. Finally, I would like to thank Eng. Adel Hamed for his exceptional leadership during the preceding challenging period."

Eng. Mohamed Nasr Eldin was appointed as a member of Telecom Egypt's Board of Directors in July 2020, representing the government.

He joined Telecom Egypt in 2004, eventually becoming Head of the International Cables and Networks Business Unit in 2014. During that period, Eng. Nasr Eldin undertook several initiatives that contributed to maximizing Telecom Egypt's revenues and capitalized on Egypt's strategic position as a route for international submarine cables.

From May 2020 until March 2023, he was Deputy ICT Minister for Global Information Infrastructure at the Ministry of Communications and Information Technology. With over 20 years of experience in the telecommunications sector, Eng. Nasr Eldin specializes in the planning, development, and operations of submarine cables and international networks. He also has extensive experience in managing international programs and projects, having held several positions since 2016 at PCCW Global--the global operating division of Hong Kong Telecom--including Head of Subsea Cable Infrastructure; Vice President of Cable Innovation, Planning, and Management; as well as Assistant Vice President of Cable Development for the Europe, Middle East, and Africa region. His key role at PCCW included planning for new submarine cables and carrying out the corresponding feasibility and investment studies.

Eng. Nasr Eldin earned a bachelor's degree in Telecommunications Engineering from Al-Azhar University in Egypt in 2001 and also holds an MBA.

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About Telecom Egypt

Telecom Egypt is the first integrated telecom operator in Egypt providing all telecom services to its customers including fixed and mobile voice and data services. Telecom Egypt has a long history serving Egyptian customers for over 160 years maintaining a leadership position in the Egyptian telecom market by offering its enterprise and consumer customers the most advanced technology, reliable infrastructure solutions and the widest network of submarine cables. Aside from its mobile operation "WE", the company owns a 45% stake in Vodafone Egypt. Telecom Egypt's shares and GDRs (Ticker: ETEL.CA; TEEG.LN) are traded on The Egyptian Exchange and the London Stock Exchange. Please refer to Telecom Egypt's full financial disclosure on ir.te.eg

For more information, contact:

The investor relations team

Email: investor.relations@te.eg

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