In 2023, Omantel maintained its position as a leader in the telecommunications sector in the sultanate of Oman and continue to maximize value to our esteemed shareholders. We eagerly look forward to building a totally connected community through innovation together with our customers. Our vision extends beyond traditional connectivity roles. Omantel is evolving into a technology company that is engaging in global diversification ventures. Our corporate strategy, "Shift Gear," is steering our company's vision toward a digital-native future. We have made remarkable strides over the past three years, earning recognition for our top-notch digital experiences. As AI takes centre stage in our strategy, we are exploring its potential to enhance customer offerings and streamline operations, marking the start of a transformative journey from a Telco to Tech Company. In this context, Omantel Labs focuses primarily on developing entrepreneurial skills among the youth and accelerating the growth of technology startups in the Sultanate of Oman through five technological fields: 5G technology, Internet of Things, cybersecurity, subscriber experience concept, and big data. Additionally, Omantel obtained, through one of its subsidiaries, a license from the Central Bank of Oman to provide electronic payment services in the Sultanate through the OM Pay application. This service will enable Omantel to provide diverse payment options for individuals and businesses alike. In 2023, Omantel advanced significantly in implementing the strategy by introducing new initiatives and strategic partnerships that will cement the foundation of our growth. Through our endeavors to expand the horizons of partnership and innovation, we have collaborated with AWS (Amazon Web Services) to address data residency and security requirements, especially for government entities and regulated industries in Oman. We are also working with AWS to develop a marketplace that will run on AWS built platforms which leverages its Machine Learning and Data Analytics capabilities to provide a personalized customer experience. Our continuous partnership with global tech giant Google empowers us to achieve our goals competently. Together, we have embarked on groundbreaking initiatives, including implementing Artificial Intelligence/Machine Learning (AI/ML) on prediction models and revenue maximization, network optimization, and the API monetization project aimed at serving enterprise businesses. To accelerate digital transformation, the Huawei-powered national cloud will facilitate Oman's digital revolution with secure and local data hosting, coupled with cutting-edge cloud services and Hyperscaler capabilities brought to customers' doorsteps. Omantel is also partnering with other global giants to foster digital transformation and growth in Oman. Through these alliances, we are confident we can develop a successful digital Infrastructure that will play a pivotal role in enabling customers, enterprises, including SMEs, and Government entities to advance their business and achieve more. These developments are also pivotal for accelerating Oman's digital transformation, aligning with its ambitions outlined in Vision 2040, and positioning Omantel as the vision Digital Arm.

Moreover, Omantel's participation in several international cable systems is also supported by an assemblage of several direct regional terrestrial links in our portfolio, which makes the Sultanate of Oman one of the most connected places in the region and an attractive international hub as the entrance to the Gulf for carriers, content, and cloud providers. The formation of Zain Omantel International (ZOI), in partnership with Zain Group, marks a strategic expansion in our services. With the new entity adopting a vibrant brand identity and a comprehensive service portfolio, ZOI is set to become a leading force in the global wholesale telecommunications sector.

Thanks and Appreciation.

We take this opportunity to express our heartfelt gratitude to our shareholders and loyal customers for their continued support, which enabled us to achieve these excellent results. We also wholeheartedly appreciate the sincere contribution of executive management and employees to the company's performance in the market's challenging situation. With your support, we are confident that Omantel will continue its good performance and will be able to reach new heights of excellence. On behalf of the Board of Directors and the staff, we are honored to express our sincere gratitude to His Majesty Sultan Haitham bin Tariq for his visionary leadership. We pray to Almighty Allah to grant him long life, health, and welfare so that Oman and its people can achieve more progress, prosperity, and welfare.

Mulham bin Basheer Al-Jarf

Chairman