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Forward-looking statements

This integrated report includes information and

statements which are or may constitute forward-

looking statements.

These forward-looking statements include all

matters that are not historical facts, statements

regarding the Company’s intentions, beliefs or

current expectations concerning, among other

things, the results of operations, financial condition,

liquidity, prospects, growth and strategies of the

Company and the industry in which the Company

operates. However, whether actual results and

developments will conform with our expectations

and predictions is subject to a number of risks,

uncertainties and assumptions. The Company

cautions you that forward-looking statements

are not guarantees of future performance and

that its actual results of operations, financial

condition and liquidity, and the development of

the industry in which the Company operates may

differ materially from those made in, implied or

projected by, the forward-looking statements

contained in this integrated report. The Company

does not undertake any obligation, and does not

expect, to review or confirm analyst expectations

or estimates or to release publicly any revisions to

any forward-looking statements to reflect events

that occur or circumstances that arise after the

date of this integrated report.

Analysys Mason

Figures, projections and market analysis from

Analysys Mason which are contained in this

integrated report are based on publicly available

information only and are produced and published

bytheResearchDivision ofAnalysysMason Limited

independently of any client-specific work within

Analysys Mason Limited. The opinions expressed

in the Analysys Mason material cited herein are

those of the relevant Analysys Mason report

authors only. Analysys Mason Limited maintains

that all reasonable care and skill have been used

in the compilation of the publications and figures

provided by Analysys Mason’s Research Division

and cited in this document. However, Analysys

Mason Limited shall not be under any liability

for loss or damage (including consequential loss)

whatsoever or howsoever arising as a result of

the use of Analysys Mason publications, figures,

projections or market analysis in this document,

by Vivacom, its servants, agents, or any recipient

of this document or any other third party. The

Analysys Mason figures and projections cited in

this report are provided for information purposes

only and are not a complete analysis of every

material fact respecting any company, industry,

securityor investment. AnalysysMason figures and

projections in this document are not to be relied

upon in substitution for the exercise of independent

judgment. Analysys Mason may have issued, and

may in the future issue, other communications

that are inconsistent with, and reach different

conclusions from, the Analysys Mason material

cited in this document. Those communications

reflect the different assumptions, views and

analytical methods of the analysts who prepared

them and Analysys Mason is under no obligation to

ensurethat suchothercommunicationsarebrought

to the attention of any recipient of this document.

The Analysys Mason material presented in this

document may not be reproduced, distributed or

published by any recipient for any purpose without

the written permission of Analysys Mason Ltd.