Helios Towers PLC · LSE:HTWS
Helios Towers — Q3 2026 Earnings Presentation
27 slides from Helios Towers's earnings presentation, Nov 5, 2026
Slide 1: Q3 2026 Results: Connecting People, Powering Growth
Q3 2026 RESULTS 5 NOVEMBER 2026 CONNECTING PEOPLE, POWERING GROWTH
Slide 2: Helios Towers team today
HELIOS TOWERS Q3 2026 RESULTS 2 Helios Towers team today Manjit Dhillon Tom Greenwood Chris Baker-Sams CFO & CEO Head of Investor Relations HT Oman Executive Chair & Strategic Finance
Slide 3: Helios Towers Investment Thesis
HELIOS TOWERS INVESTMENT THESIS Multi-decade World-class Robust business Disciplined and growth runway platform model flexible capital allocation
Slide 4: Agenda
1x AGENDA 01 Highlights 02 Financial results 03 Q&A 2x 3x
Slide 5: Q3 2026 Highlights
Q3 2026 RESULTS 5 NOVEMBER 2026 Q3 2026 HIGHLIGHTS
Slide 6: Q3 Highlights – firmly in the compounding sweet spot
HELIOS TOWERS Q3 2026 RESULTS 6 Q3 Highlights – firmly in the compounding sweet spot – record growth, increasing ROIC and expanding shareholder returns 01 02 03 04 Financial performance Record tenancy Accelerating FY 26 guidance highly correlated to demand shareholder returns tightened upwards tenan
Slide 7: Resilient and robust business model underpins structural growth
HELIOS TOWERS Q3 2026 RESULTS 7 Resilient and robust business model underpins structural growth Over ten years of consistent tenancy and Adj. EBITDA growth through volatile Global events Adj. EBITDA1 (US$m) +23% CAGR c.535 (Prior: 520–535) 421 471 370 241 283 178 205 227 105 146 54 FY 15 FY 16 FY 17
Slide 8: Mobile operator investment in Africa expected to grow materially faster
HELIOS TOWERS Q3 2026 RESULTS 8 Mobile operator investment in Africa is expected to grow materially faster than the rest of the world FY 29 vs. FY 252 Mobile operator capex1 (reported & consensus) Consensus Africa Indexed +50% USA +4% Europe (14%) ASIA (9%) LATAM (7%) 2015 2016 2017 2018 2019 2020 2
Slide 9: Demographics and data consumption will drive mid-single-digit TAM growth through 2040
HELIOS TOWERS Q3 2026 RESULTS 9 Demographics and data consumption will drive mid-single-digit TAM growth through 2040 A&ME +600m1 65%1 +4%2 Macro increase in below 30 years old real GDP CAGR (FY 25–FY 40) population (+33%) A&ME +800m1 +15%3 +12x4 Mobile more unique mobile increase in penetration inc
Slide 10: IMPACT 2030 – Disciplined and flexible capital allocation framework
HELIOS TOWERS Q3 2026 RESULTS 10 IMPACT 2030 – Disciplined and flexible capital allocation framework – with >$1.3bn recurring free cash flow1 targeted FY 26–30 Our capital allocation priorities: IMPACT 2030 target2 Optimised organic Optimised organic Capital efficient investments 01 investments accr
Slide 11: Accretive growth, accelerating shareholder returns and further deleveraging into FY 27
HELIOS TOWERS Q3 2026 RESULTS 11 Accretive growth, accelerating shareholder returns and further deleveraging expected to continue into FY 27 FY 25 FY 26 FY 27 Actual Guidance Initial expectations Tenancy additions +2,538 c.4,000 >3,000 (+13%) Adj. EBITDA $471m c.$535m >10% (+14%) Net leverage 3.4x D
Slide 12: Financial Results
Q3 2026 RESULTS 5 NOVEMBER 2026 FINANCIAL RESULTS
Slide 13: Structural tailwinds and market leadership driving tenancy growth
HELIOS TOWERS Q3 2026 RESULTS 13 Structural tailwinds and market leadership driving tenancy growth Sites Tenancies Tenancy ratio (#) (#) (x) +7% +12% +0.1x 2.3x 35,379 2.2x 15,688 31,531 4,933 14,621 2,675 4,493 2,615 14,449 6,076 12,586 5,467 6,539 6,937 14,452 15,997 Q3 25 Q3 26 Q3 25 Q3 26 Q3 25
Slide 14: Revenue growth driven by tenancy additions
HELIOS TOWERS Q3 2026 RESULTS 14 Revenue growth driven by tenancy additions, underpinned by contracted revenues with multinational customers Revenue Revenue commentary (US$m) +17% • 69% revenue in hard currency, with 70% Adj. EBITDA in hard currency, further protected through CPI/ power 252 escalato
Slide 15: Adj. EBITDA growth highly correlated to tenancy additions
HELIOS TOWERS Q3 2026 RESULTS 15 Adj. EBITDA growth is highly correlated to tenancy additions and resilient to FX, CPI and power price movements Q3 26 YoY revenue walkthrough1, 2 Q3 26 YoY Adj. EBITDA walkthrough1 (US$m) (US$m) +17% +13% 17 0 0 (1) 11 3 (2) 24 Driven by power price escalations in DR
Slide 16: Well-invested platform supports high incremental returns from capex
HELIOS TOWERS Q3 2026 RESULTS 16 Well-invested platform supports high incremental returns from capex Disciplined capex deployment Capex overview (US$m) 280- • Q3 YTD 26 disc. capex of $173m, reflecting +3,435 295 280–295 tenancies (including +942 sites) • Bottom end of disc. Capex FY 26 guidance upl
Slide 17: Strong balance sheet with $500m of available cash and undrawn debt facilities
HELIOS TOWERS Q3 2026 RESULTS 17 Strong balance sheet with $500m of available cash and undrawn debt facilities Debt maturity profile extended Strong balance sheet1 (US$m) Group facilities: 6.7% Convertible Senior Oman Group cost of debt2 bond4 Notes facilities5 3.3yrs weighted average debt maturity
Slide 18: Tracking ahead of IMPACT 2030 targets in first year of strategy
HELIOS TOWERS Q3 2026 RESULTS 18 Tracking ahead of IMPACT 2030 targets in first year of strategy FY 25 FY 26 IMPACT 2030 Targeted completion4 Actual Guidance Targets (%) Tenancy additions +2,538 c.4,000 >10,000 40% (+13%) (>6% CAGR) Adj. EBITDA $471m c.$535m >9% CAGR 25% (+14%) >$235m >$1.3bn RFCF $
Slide 19: Key takeaways
19 Key takeaways Operational excellence and customer service delivery underpin an exceptional year for tenancy additions as MNO investment accelerates FY 26 guidance tightened upwards reinforcing confidence in our growth trajectory, with a strong tenancy pipeline developing into FY 27 Firmly in the
Slide 20: Q&A
Q3 2026 RESULTS 5 NOVEMBER 2026 Q&A
Slide 21: Investor Relations
HELIOS TOWERS Q3 2026 RESULTS 21 INVESTOR RELATIONS Upcoming IR IR Contact events Morgan Stanley European Technology, Media & 18 November Telecom (TMT) Conference (Barcelona) 19 November Bank of America Non-deal roadshow (Paris) Jefferies Global Emerging Markets (GEMS) 23 November Conference (Dubai)
Slide 22: Appendix
Q3 2026 RESULTS 5 NOVEMBER 2026 APPENDIX
Slide 23: Operational & Financial highlights
HELIOS TOWERS Q3 2026 RESULTS 23 Operational & Financial highlights YoY Q3 26 Q3 25 In US$m, unless otherwise stated Change YTD YTD Tenancies (#) 35,379 31,531 +12% Tenancy ratio (x) 2.26x 2.16x +0.10x Adj. EBITDA1 392.2 345.6 +13% Operating profit 259.1 211.2 +23% Return on invested capital (ROIC)
Slide 24: Market overview – macro & industry snapshot
HELIOS TOWERS Q3 2026 RESULTS 24 Market overview – macro & industry snapshot Mobile Unique mobile PoS Growth Mobile data traffic Towers held by Credit ratings # MNOs1 Subs CAGR2 CAGR4 multiple3 Credit ratings6 Penetration2 (FY 25–FY 30) (FY 25–FY 30) (FY 25–FY 40) MNOs5 momentum7 Tanzania 4 47% 5% 4
Slide 25: Q3 2026: sites and tenancies
HELIOS TOWERS Q3 2026 RESULTS 25 Q3 2026: sites and tenancies Population Sites Tenancies Tenancy ratio coverage Q3 Q2 Q3 Q3 Q2 Q3 Q3 Q2 Q3 Q3 YoY QoQ YoY QoQ YoY QoQ 25 26 26 25 26 26 25 26 26 26 Tanzania 4,251 4,302 4,377 126 75 11,010 11,742 11,911 901 169 2.59x 2.73x 2.72x 0.13x (0.01x) 47m Seneg
Slide 26: Disclosed average daily traded volume is approaching $10m
HELIOS TOWERS Q3 2026 RESULTS 26 Disclosed average daily traded volume is approaching $10m ADTV (US$m) 12 10 8 6 4 2 0 Jan-23 Jan-24 Jan-25 Jan-26 1 All disclosed volumes LSE 1. FactSet aggregate trading volume across LSE, Cboe Europe (BXE and CXE), MTFs (Turquoise, Instinet BlockMatch and Liquidnet
Slide 27: Disclaimer
HELIOS TOWERS Q3 2026 RESULTS 27 Disclaimer This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire or dispose of securities in Helios Towers plc (the "Company") or any other m