Salient Features of the Financial Statement of Subsidiaries

56.01% - 7,978 - 7,978 - - 1,112 1,805 691 2 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2010 8, June B.V. Holdings Uganda Airtel Bharti 43

53.97% - 50 838 888 9,077 - 10,935 10,769 (170) 4 4.23 2019 31, December Dec'19 to Jan'19 ZMW Zambia 2010 8, June Plc Zambia Networks Airtel 42

50.41% - (491) (366) (857) 9,039 - 21,833 20,571 (1,453) 191 0.13 2019 31, December Dec'19 to Jan'19 XOF Niger 2010 8, June S.A. Niger Celtel 41

56.01% - 942 115 1,057 - - 14 16,307 16,292 1 1 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2010 8, June B.V. Holdings Niger Airtel Bharti 40

44.81% - 1,016 679 1,695 11,779 8 7,770 10,593 2,823 0 0.10 2019 31, December Dec'19 to Jan'19 MWK Malawi 2010 8, June Plc Malawi Airtel 39

56.01% - 2,332 433 2,765 - - (1,210) 3,177 4,385 2 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2010 8, June B.V. Holdings Malawi Airtel Bharti 38

56.01% - (1,948) 26 (1,922) 15,375 - 52,945 25,581 (46,164) 18,800 0.72 2019 31, December Dec'19 to Jan'19 KES Kenya 2010 8, June # Limited Kenya Networks Airtel 37

56.01% - (3,132) 69 (3,063) - - 96,836 80,882 (15,956) 2 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2010 8, June B.V. Kenya Airtel Bharti 36

56.01% - (152) - (152) - - 95,615 92,243 (3,373) 1 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2010 8, June B.V. Holdings Kenya Airtel Bharti 35

56.01% - (25) - (25) - - 567 750 182 1 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2010 8, June B.V. Holdings Mali Airtel Bharti 34

of Congo of

Democratic Republic Republic Democratic 2010 8, June S.A. (RDC) Congo Airtel 33 55.17% - 3,522 (2,834) 688 20,798 - 97,630 38,952 (58,704) 26 75.68 2019 31, December Dec'19 to Jan'19 USD

56.01% - (0) - (0) - - 63,521 62,394 (1,128) 1 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2010 8, June B.V. Holdings RDC Airtel Bharti 32

50.41% - (1,392) 50 (1,342) 8,444 - 21,979 20,721 (1,748) 490 0.13 2019 31, December Dec'19 to Jan'19 XAF Brazzaville Congo 2010 8, June S.A. Congo Airtel 31

56.01% - 218 - 218 - - 11,834 19,408 7,572 2 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2010 8, June B.V. Holdings Congo Airtel Bharti 30

54.86% - (317) 212 (105) 9,430 - 15,685 10,338 (6,111) 764 0.13 2019 31, December Dec'19 to Jan'19 XAF Gabon 2010 8, June S.A. Gabon Airtel 29

56.01% - (0) - (0) - - 308 10,577 10,267 2 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2010 8, June B.V. Holdings Gabon Airtel Bharti 28

56.01% - (91) 402 311 7,875 - 18,424 12,865 (9,099) 3,540 0.13 2019 31, December Dec'19 to Jan'19 XOF Chad 2010 8, June S.A. Tchad Airtel 27

56.01% - 0 - 0 - 15,375 15,886 510 1 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2010 8, June B.V. Holdings Chad Airtel Bharti 26

56.01% - 24,035 1 24,036 - - 340,431 454,478 114,005 42 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2010 8, June B.V. Africa Airtel Bharti 25

56.01% - 29,887 (564) 29,323 - - 221,879 504,661 104,231 178,551 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2010 19, March B.V. (Netherlands) International Airtel Bharti 24

100% - (32,760) - (32,760) - - 40,342 151,724 (25,824) 137,206 75.68 2020 31, March Mar'20 to Apr'19 USD Mauritius 2018 28, June Limited Mauritius Africa Airtel 23

100% - 1,142 - 1,142 - 7,942 0 7,962 (2,825) 10,787 75.68 2020 31, March Mar'20 to Apr'19 USD Mauritius 2018 28, June Limited (Mauritius) Overseas Airtel Bharti 22

100% - (1) - (1) - - 1 11,546 756 10,789 75.68 2020 31, March Mar'20 to Apr'19 USD Mauritius 2018 27, June Limited (Mauritius) Holding Airtel Bharti 21

Limited Limited

Bharti Airtel International (Mauritius) Investments Investments (Mauritius) International Airtel Bharti 20 100% - (1) - (1) - - 0 (1) (3) 2 75.68 2020 31, March Mar'20 to Apr'19 USD Mauritius 2018 26, March

known as Nettle Developers Limited) Developers Nettle as known

100% - 4,805 - 4,805 - 320 135,012 72,367 Nettle Infrastructure Investments Limited (formerly (formerly Limited Investments Infrastructure Nettle 19 (62,646) 1 1.00 2020 31, March Mar'20 to Apr'19 INR India 2017 14, March

Limited)

Airtel Digital Limited (formerly known as Wynk Wynk as known (formerly Limited Digital Airtel 18 100% - (628) (182) (810) 5,466 - 2,764 2,625 (140) 1 1.00 2020 31, March Mar'20 to Apr'19 INR India 2015 13, January

100% - 712 192 904 10,854 4 13,039 14,095 966 90 1.00 2020 31, March Mar'20 to Apr'19 INR India 2013 2, July Limited Data Nxtra 17

100% - 4,098 1,488 5,586 17,689 - 16,988 21,883 3,956 939 1.00 2020 31, March Mar'20 to Apr'19 INR India 2013 5, February Limited Networks Telesonic 16

100% - (681) 189 (492) 6,413 3,012 130,537 313,301 28,537 154,227 75.68 2020 31, March Mar'20 to Apr'19 USD Mauritius 2007 28, September Limited i2i Network 15

80% - 3,857 5,151 9,008 29,238 7,293 44,581 36,980 (12,703) 5,102 1.00 2020 31, March Mar'20 to Apr'19 INR India 2007 5, June Limited Telemedia Bharti 14

Smartx Services Limited Services Smartx 13 53.51% - (66) 7 (59) 146 - 440 447 (23) 30 1.00 2020 31, March Mar'20 to Apr'19 INR India 2015 21, September

Bharti Infratel Limited Limited Infratel Bharti 12 53.51% 7,583 32,985 4,889 37,874 67,423 111,701 64,722 200,145 116,927 18,496 1.00 2020 31, March Mar'20 to Apr'19 INR India 2006 30, November

Indo Teleports Limited Teleports Indo 11 100% - (70) - (70) 260 - 1,111 439 (902) 230 1.00 2020 31, March Mar'20 to Apr'19 INR India 2009 4, March

Bharti Hexacom Limited Hexacom Bharti 10 70% - (27,165) (7,183) (34,348) 38,741 6,254 118,111 148,311 27,700 2,500 1.00 2020 31, March Mar'20 to Apr'19 INR India 2004 18, May

Bharti Airtel Lanka (Private) Limited (Private) Lanka Airtel Bharti 9 100% - (2,165) 17 (2,148) 4,552 - 10,740 8,188 (25,669) 23,117 0.40 2020 31, March Mar'20 to Apr'19 LKR Lanka Sri 2007 29, March

Bharti Airtel International (Mauritius) Limited Limited (Mauritius) International Airtel Bharti 8 100% - 528 14 542 - - 19 19,128 (206,013) 225,122 75.68 2020 31, March Mar'20 to Apr'19 USD Mauritius 2010 6, April

Bharti International (Singapore) Pte Ltd Ltd Pte (Singapore) International Bharti 7 100% - (48) 190 142 9,791 25,956 31,967 44,848 (102,541) 115,422 75.68 2020 31, March Mar'20 to Apr'19 USD Singapore 2010 18, March

America

Bharti Airtel (USA) Limited (USA) Airtel Bharti 6 United States of of States United 2006 12, September 100% - 9 9 18 1,334 - 570 1,530 960 - 75.68 2020 31, March Mar'20 to Apr'19 USD

Bharti Airtel (UK) Limited Limited (UK) Airtel Bharti 5 100% - 402 96 498 38,371 - 4,136 5,482 1,322 24 93.85 2020 31, March Mar'20 to Apr'19 GBP Kingdom United 2006 29, August

Bharti Airtel Services Limited Services Airtel Bharti 4 100% - 254 255 509 3,867 47 3,772 3,740 (33) 1 1.00 2020 31, March Mar'20 to Apr'19 INR India 2001 26, March

Bharti Airtel (Japan) Private Limited Private (Japan) Airtel Bharti 3 100% - 5 1 6 39 - 40 49 9 0 0.70 2020 31, March Mar'20 to Apr'19 JPY Japan 2010 5, April

Bharti Airtel (Hong Kong) Limited Kong) (Hong Airtel Bharti 2 100% - 161 30 191 620 - 405 779 347 27 9.76 2020 31, March Mar'20 to Apr'19 HKD Kong Hong 2006 12, October

Bharti Airtel (France) SAS (France) Airtel Bharti 1 100% - 185 92 277 2,297 - 2,895 3,730 834 1 83.53 2020 31, March Mar'20 to Apr'19 EUR France 2010 9, June

incorporated incorporated Taxation Taxation Taxation 2020

was acquired / / acquired was After After Taxation 31, March Before Before

No. subsidiary subsidiary Registration Registration Currency Currency Period Period Dividend Dividend (Loss) for Liabilities Assets Capital of as Rate shareholding (Loss)

S. S. Name of the Subsidiary Subsidiary the of Name Date on which which on Date Country of of Country Reporting Reporting Reporting Reporting Financial Year End End Year Financial Proposed Proposed Profit/ Provision Investments* Total Total Reserves Share Exchange % of of % Profit/ Turnover

Integrated Report and Annual Financial Statements 2019-20 Report Statements Financial and Annual Integrated Bharti Airtel Limited in Million in H

Part A - Subsidiaries - A Part

pursuant to Section 129 (3) of the Companies Act 2013 Act Companies the of (3) 129 Section to pursuant Salient features of the financial statement of subsidiaries, associates and joint ventures for the year ended March 31, 2020, 2020, 31, March ended year the for ventures joint and associates subsidiaries, of statement financial the of features Salient 402

Integrated Report Statutory Reports Financial Statements Independent Auditor’s Report 403 % of % of 56.01% 56.01% 56.01% 56.01% 28.57% 56.01% 56.01% 56.01% 51.38% 28.57% 50.41% 56.01% 56.01% 56.01% 56.01% 56.01% 56.01% 56.01% 56.01% 56.01% 56.01% 56.01% 56.01% 56.01% 56.01% 56.01% 56.01% 56.01% 56.01% 56.01% 56.01% 51.38% 28.57% 56.01% 55.17% 56.01% 56.01% 56.01% 54.86% 56.01% 56.01% 56.01% 56.01% 56.01% 56.01% 56.01% H in Million shareholding ------8,532 Dividend Proposed Proposed ------2 1 33 (4) (0) (0) (1) (1) (1) (1) (0) (0) (0) (0) 336 985 124 248 873 130 613 (88) (15) (19) After After (961) (105) (231) 5,880 1,269 1,833 (Loss) Profit/ Profit/ 22,601 28,950 (3,846) (4,298) Taxation Taxation

------1 2 0 3 2 for 50 55 (0) (0) 448 136 116 323 459 288 (30) (41) (306) 3,098 10,362 Taxation Taxation Provision Provision ------2 1 33 (3) (0) (0) (1) (1) (1) (1) (0) (0) (0) (0) 472 174 303 133 901 (88) (15) (19) (105) (261) 8,978 1,717 1,835 1,101 1,332 (Loss) Before Before Profit/ Profit/ 32,963 28,952 (1,267) (3,523) (4,339) Taxation Taxation ------0 948 232 626 542 3,252 1,274 1,788 2,636 2,178 2,133 3,481 27,844 16,441 92,056 Turnover Turnover ------264 Investments* - 2 67 50 21 20 35 (0) (0) (3) (0) (5) 231 945 582 447 102 997 672 199 142 362 (36) Total Total 1,546 1,142 1,051 2,631 1,944 5,867 5,489 2,360 1,943 1,158 1,117 5,726 2,347 24,062 42,373 50,922 16,533 16,479 16,894 72,001 30,676 174,137 175,837 Liabilities ------1 4 0 28 566 237 189 943 448 448 997 857 199 363 Total Total 1,370 3,120 1,051 2,360 1,675 2,674 5,867 8,028 5,489 1,655 1,677 3,478 1,158 8,762 2,873 Assets Assets 26,526 38,372 19,693 13,781 16,456 93,385 16,306 10,176 174,013 107,346 335,890 ------1 20 36 (3) 335 165 532 732 359 175 518 (45) (26) (16) (35) (272) (126) (710) (677) (178) 2,436 1,977 1,491 1,346 3,035 20,573 16,202 76,943 (4,003) (2,754) (8,926) (32,807) (68,492) (20,508) Reserves Reserves - - 1 0 2 1 0 0 2 3 0 1 2 0 3 0 0 0 2 5 1 0 2 1 0 2 8 0 1 1 8 8 0 2 1 6 28 60 10 167 189 198 811 189 Share Share 1,578 Capital 258,805 0.02 0.13 0.03 0.10 0.20 0.03 0.13 5.51 0.02 0.03 0.02 0.02 0.13 0.20 0.03 0.10 0.72 0.13 0.02 4.23 0.08 0.13 0.08 5.51 2020 75.68 75.68 75.68 75.68 75.68 75.68 75.68 75.68 75.68 75.68 75.68 75.68 75.68 75.68 75.68 75.68 75.68 75.68 75.68 75.68 75.68 75.68 Exchange Exchange Rate as of as of Rate March 31, March Financial Year End Financial Year December 31, 2019 December December 31, 2019 December December 31, 2019 December March 31, 2020 March December 31, 2019 December March 31, 2020 March December 31, 2019 December December 31, 2019 December December 31, 2019 December March 31, 2020 March March 31, 2020 March December 31, 2019 December March 31, 2020 March December 31, 2019 December March 31, 2020 March March 31, 2020 March December 31, 2019 December December 31, 2019 December December 31, 2019 December December 31, 2019 December December 31, 2019 December December 31, 2019 December December 31, 2019 December March 31, 2020 March March 31, 2020 March March 31, 2020 March December 31, 2019 December March 31, 2020 March December 31, 2019 December December 31, 2019 December December 31, 2019 December March 31, 2020 March December 31, 2019 December December 31, 2019 December December 31, 2019 December December 31, 2019 December December 31, 2019 December December 31, 2019 December December 31, 2019 December December 31, 2019 December December 31, 2019 December December 31, 2019 December March 31, 2020 March March 31, 2020 March December 31, 2019 December December 31, 2019 December Reporting Period Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Apr'19 to Mar'20 Apr'19 to Jan'19 to Dec'19 Jan'19 to Apr'19 to Mar'20 Apr'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Apr'19 to Mar'20 Apr'19 to Apr'19 to Mar'20 Apr'19 to Jan'19 to Dec'19 Jan'19 to Apr'19 to Mar'20 Apr'19 to Jan'19 to Dec'19 Jan'19 to Apr'19 to Mar'20 Apr'19 to Apr'19 to Mar'20 Apr'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Apr'19 to Mar'20 Apr'19 to Apr'19 to Mar'20 Apr'19 to Apr'19 to Mar'20 Apr'19 to Jan'19 to Dec'19 Jan'19 to Apr'19 to Mar'20 Apr'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Apr'19 to Mar'20 Apr'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Apr'19 to Mar'20 Apr'19 to Apr'19 to Mar'20 Apr'19 to Jan'19 to Dec'19 Jan'19 to Jan'19 to Dec'19 Jan'19 to Reporting Currency UGX XAF TZS USD MWK USD NGN TZS XOF USD USD USD USD USD USD USD USD USD USD SCR MGA TZS UGX USD USD USD MGA USD XAF NGN TZS USD USD MWK USD KES XAF USD MGA ZMW RWF XOF USD USD RWF SCR Country of of Country Registration Uganda Gabon Tanzania Netherlands Malawi Netherlands Nigeria Tanzania Niger Netherlands Netherlands Mauritius Netherlands Mauritius Netherlands Netherlands Mauritius Jersey Mauritius Seychelles Madagascar Tanzania Uganda Netherlands Netherlands Netherlands Madagascar Netherlands Congo Brazzaville Nigeria Tanzania Netherlands Democratic Republic Republic Democratic Congo of Malawi Democratic Republic Republic Democratic Congo of Kenya Gabon Mauritius Madagascar Zambia Rwanda Chad United Kingdom United Netherlands Rwanda Seychelles Date on which Date subsidiary / acquired was incorporated June 8, 2010 October 26, 2010 October June 10, 2016 June 8, 2010 December 15, 2010 December December 5, 2018 December August 31, 2017 June 8, 2010 June 8, 2010 January 29, 2019 June 8, 2010 June 8, 2010 January 29, 2019 June 8, 2010 June 8, 2010 January 29, 2019 June 8, 2010 October 19, 2010 October June 8, 2010 August 27, 2010 June 8, 2010 November 11, 2010 November October 7, 2010 October June 8, 2010 October 5, 2010 October June 8, 2010 March 15, 2011 March June 8, 2010 June 8, 2010 June 8, 2010 March 15, 2011 March June 8, 2010 June 8, 2010 June 8, 2010 April 5, 2011 June 8, 2010 May 17, 2011 May June 8, 2010 April 5, 2011 June 8, 2010 September 2, 2011 September June 8, 2010 July 12, 2018 July June 8, 2010 February 22, 2013 February August 9, 2013

Name of the Subsidiary the Subsidiary Name of Airtel Uganda Limited Airtel Uganda Limited Airtel Money S.A. (Gabon) Airtel Money Airtel Money Tanzania Limited Limited Tanzania Airtel Money Bharti Airtel Tanzania B.V. Bharti Airtel Tanzania Malawi Towers Limited Malawi Towers Airtel Mobile Commerce Nigeria B.V. Airtel Mobile Commerce Airtel Mobile Commerce (Nigeria) Limited (Nigeria) Limited Airtel Mobile Commerce Airtel Tanzania Public Limited Company Public Limited Airtel Tanzania Limited) known as Airtel Tanzania (formerly Airtel Money Niger S.A. Niger Airtel Money Airtel Mobile Commerce (Seychelles) B.V. (Seychelles) Airtel Mobile Commerce Bharti Airtel Madagascar Holdings B.V. Bharti Airtel Madagascar Société Malgache de Téléphone Cellulaire S.A. Cellulaire Malgache de Téléphone Société Airtel Mobile Commerce Congo B.V. Congo B.V. Airtel Mobile Commerce Channel Sea Management Company (Mauritius) Channel Sea Management Company Limited Airtel Mobile Commerce Holdings B.V. Holdings B.V. Airtel Mobile Commerce Airtel Mobile Commerce Kenya B.V. Kenya Airtel Mobile Commerce Bharti Airtel Rwanda Holdings Limited Bharti Holdings Limited Airtel Rwanda Indian Ocean Telecom Limited Indian Ocean Telecom Montana International Airtel (Seychelles) Limited Airtel (Seychelles) Airtel Madagascar S.A. Airtel Madagascar Airtel Mobile Commerce (Tanzania) Limited (Tanzania) Airtel Mobile Commerce Airtel Mobile Commerce Uganda Limited Airtel Mobile Commerce Bharti Airtel Nigeria Holdings II B.V. Africa Towers N.V. Africa Towers Bharti Airtel Nigeria B.V. Madagascar Towers S.A. Towers Madagascar Bharti Airtel Services B.V. Mobile Commerce Congo S.A. Mobile Commerce Airtel Networks Limited Tanzania Towers Limited Towers Tanzania Bharti Airtel Zambia Holdings B.V. Airtel Money (RDC) S.A. Airtel Money Airtel Mobile Commerce (Malawi) Limited (Malawi) Limited Airtel Mobile Commerce Congo RDC Towers S.A. Congo RDC Towers Airtel Mobile Commerce (Kenya) Limited (Kenya) Airtel Mobile Commerce Gabon Towers S.A. ## Gabon Towers Celtel (Mauritius) Holdings Limited Celtel Airtel Mobile Commerce Madagascar S.A. Madagascar Airtel Mobile Commerce Airtel Mobile Commerce Zambia Limited Zambia Limited Airtel Mobile Commerce Airtel Rwanda Limited Airtel Rwanda Airtel Mobile Commerce Tchad S.a.r.l. Tchad Airtel Mobile Commerce Airtel Africa Plc Airtel Mobile Commerce B.V. B.V. Airtel Mobile Commerce Airtel Mobile Commerce (Rwanda) Limited (Rwanda) Airtel Mobile Commerce Airtel Mobile Commerce (Seychelles) Limited (Seychelles) Airtel Mobile Commerce S. No. Salient features of the financial statement of subsidiaries, associates and joint ventures for the year ended March 31, 2020, ended March year the for ventures and joint subsidiaries, associates of statement the financial of Salient features the Companies Act 2013 Section 129 (3) of pursuant to A - Subsidiaries Part 44 63 84 45 64 85 86 46 65 87 47 66 88 48 67 89 49 68 50 69 51 70 71 52 72 53 73 54 74 55 75 56 76 57 77 58 78 59 79 60 80 61 81 62 82 83

Bharti Digital Networks Private Limited (Formerly known as Tikona Digital Networks Private Limited) Private Networks Digital Tikona as known (Formerly Limited Private Networks Digital Bharti 1

Subsidiaries have been liquidated/sold during the year: the during liquidated/sold been have Subsidiaries II.

Network I2I (Kenya) Limited (incorporated on July 3, 2019) 3, July on (incorporated Limited (Kenya) I2I Network 3

Bharti Airtel Developers Forum Limited Forum Developers Airtel Bharti 2

Partnership Investments SARL Investments Partnership 1

Subsidiaries yet to commence operations: commence to yet Subsidiaries I.

details: Other

* Investments exclude investments in subsidiaries. in investments exclude Investments *

## The subsidiary is under liquidation as at March 31, 2020. 31, March at as liquidation under is subsidiary The ##

# Share capital includes preference share capital. share preference includes capital Share #

5 Financial information has been extracted from the submission considered for the purpose of consolidated audited Ind AS financial statements. financial AS Ind audited consolidated of purpose the for considered submission the from extracted been has information Financial 5

above table. above

4. During the period effective shareholding of Airtel Africa Plc has been changed to 56.01%, due to which effective shareholding of entities owned by Airtel Africa Plc directly/ indirectly will undergo change vis-à-vis the % presented in the the in presented % the vis-à-vis change undergo will indirectly directly/ Plc Africa Airtel by owned entities of shareholding effective which to due 56.01%, to changed been has Plc Africa Airtel of shareholding effective period the During 4.

3. All particulars has been converted using closing exchange rate as on March 31 March on as rate exchange closing using converted been has particulars All 3. 2020.

2. The figures which are appearing as '0' are result of rounding off. rounding of result are '0' as appearing are which figures The 2.

1. The above financial information is basis audited / unaudited financial statements / financial information considered for the purpose of consolidated audited Ind AS financial statements. financial AS Ind audited consolidated of purpose the for considered information financial / statements financial unaudited / audited basis is information financial above The 1.

Notes:

Airtel International LLP LLP International Airtel 97 56.01% - 44 - 44 - - 172 249 44 33 1.00 2020 31, March Mar'20 to Apr'19 INR India 2019 27, March

Airtel Money Transfer Limited Transfer Money Airtel 96 56.01% - 0 - 0 0 - 4 18 - 14 0.72 2019 31, December Dec'19 to Jan'19 KES Kenya 2015 20, July

Airtel Mobile Commerce Zambia B.V. B.V. Zambia Commerce Mobile Airtel 95 56.01% ------(0) - - 0 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2019 29, January

Airtel Mobile Commerce Uganda B.V. Uganda Commerce Mobile Airtel 94 56.01% ------(0) - - 0 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2019 29, January

Airtel Mobile Commerce Tchad B.V. B.V. Tchad Commerce Mobile Airtel 93 56.01% ------(0) 0 - 0 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2019 29, January

Airtel Mobile Commerce Rwanda B.V. B.V. Rwanda Commerce Mobile Airtel 92 56.01% ------(0) - - 0 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2019 29, January

Airtel Mobile Commerce Malawi B.V. B.V. Malawi Commerce Mobile Airtel 91 56.01% ------(0) - - 0 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2019 29, January

Airtel Mobile Commerce Madagascar B.V. B.V. Madagascar Commerce Mobile Airtel 90 56.01% ------(0) - - 0 75.68 2020 31, March Mar'20 to Apr'19 USD Netherlands 2019 29, January

incorporated incorporated Taxation Taxation Taxation 2020

was acquired / / acquired was After After Taxation 31, March Before Before

No. subsidiary subsidiary Registration Registration Currency Currency Period Period Dividend Dividend (Loss) for Liabilities Assets Capital of as Rate shareholding (Loss)

Integrated Report and Annual Financial Statements 2019-20 Report Statements Financial and Annual Integrated Bharti Airtel Limited in Million in H

Part A - Subsidiaries - A Part

Integrated Report Statutory Reports Financial Statements Independent Auditor’s Report 405

------H in Million Not Considered Not Considered in consolidation - 5 27 13 (2) 128 March 31, 2020 March 13,151 (4,684) (2,114) ^ consolidation Profit / (loss) for the year ended year the / (loss) for Profit Considered in Considered 0 17 72 11 18 134 NA# 2,244 30,671 13,313 audited audited Net Worth Net Worth as per latest latest as per shareholders shareholders Balance Sheet attributable to attributable to joint control agreement By virtue of shareholder shareholder virtue of By is significant influence / By virtue of shareholding virtue of By By virtue of shareholding virtue of By Description of how there how there of Description % 50% 50% 10% 25% 49.95% 22.47% 80.10% 17.79% 22.54% 14.56% holding Extent of of Extent - 31 77 107 261 60,673 10,010 25,649 Amount of Amount of 0.000001^ Investment Investment Joint Venture in Associate / in Associate 260 6,824 shares 18,000 500,504 800,000 1,000,000 2,100,471 Number of of Number by the company as of March 31, 2020 March as of the company by 440,709,862 805,025,128 Share of Associates / Joint Ventures held / Joint Ventures Associates of Share 1,178,535,001 December 31, 2018 December March 31, 2017 March March 31, 2019 March March 31, 2020 March March 31, 2019 March June 30, 2019 March 31, 2020 March March 31, 2019 March March 31, 2019 March Latest audited audited Latest Balance Sheet date December 31, 2019 December October 12, 2017 October October 12, 2017 October February 4, 2014 February December 7, 2007 December November 3, 2004 November June 8, 2010 October 25, 2018 October November 26, 2017 November February 21, 2017 February Date on which Date / Joint Associate was Venture or associated acquired November 16, 2016 November Airtel Ghana Limited # Airtel Ghana Limited Bharti Airtel Ghana Holdings B.V. # Bharti Airtel Ghana Holdings B.V. FireFly Networks Limited Networks Limited FireFly Indus Towers Limited * Limited Indus Towers Joint Ventures Limited Bridge Mobile Pte Seychelles Cable Systems Company Limited** Company Cable Systems Seychelles Airtel Payments Bank Limited Bank Airtel Payments Juggernaut Books Private Limited*** Juggernaut Books Private Seynse Technologies Private Limited Private Technologies Seynse Name of the Associate / Joint Venture the Associate Name of Associates @ Axiata Limited Robi @RedDot Digital Limited is incorporated on November 5, 2019 and is subsidiary of Robi Axiata Limited. Robi of 5, 2019 and is subsidiary on November is incorporated Digital Limited @RedDot the Company. of shareholding as against effective Limited Bharti Infratel of shareholding on direct is based consolidation for / (loss) considered * Profit 31, 2020. ended March year 31, 2019) during the 14.56% (17.79% in March to its shareholding has reduced ** The group 31, 2020. ended March year 31, 2019) during the 17.79% (19.35% in March to its shareholding has reduced *** The group the acquisition date. to balance sheet is pertaining the period prior audited to the latest 31, 2018. However, ended March year during the venture in joint stake has acquired # The group number. consolidated Ghana entities are for ^ Amount considered : Notes Bharti Airtel Limited. of financial statements in the consolidated investments of value on the carrying is based / associate venture in joint investment Amount of 2020. year during financial been liquidated have Limited Mobile Financial Services and Millicom Ghana Company Limited 5 4 3 2 1 3 4 5 2 Salient features of the financial statement of subsidiaries, associates and joint ventures for the year ended March 31, 2020, ended March year the for ventures and joint subsidiaries, associates of statement the financial of Salient features the Companies Act 2013 Section 129 (3) of pursuant to and Joint Ventures B - Associates Part S. No. 1