We are exposed to market risk from adverse movements in foreign currency exchange rates and changes in interest rates on our obligations. As of December 31, 2025, the largest currency exposure risks for our group were in relation to the Pakistani rupee, the Bangladeshi taka, the Ukrainian hryvnia, the Kazakhstani tenge and the Uzbekistani som, because the majority of our cash flows from operating activities in Pakistan, Bangladesh, Ukraine, Kazakhstan and Uzbekistan are denominated in each of these local currencies, respectively, while significant portion of our debt, if not incurred in or hedged to the aforementioned currencies, is denominated in U.S. dollars. Our treasury function has developed risk management policies that establish guidelines for limiting foreign currency exchange rate risk. As part of such strategy, we hold part of our debt in Pakistani rupee, Bangladeshi taka and other local currencies which aids in reducing balance sheet mismatches, We also selectively enter into foreign exchange derivatives if and when possible. We hold approximately 63% of our cash and bank deposits in U.S. dollars in order to hedge against the risk of local currency devaluation. Nonetheless, if the U.S. dollar value of the Pakistani rupee, the Bangladeshi taka, the Uzbekistani som, the Kazakhstani tenge were to dramatically decline, it could negatively impact our ability to repay or refinance our U.S. dollar denominated indebtedness as well as could adversely affect our financial condition and results of operations. In accordance with our policies, we do not enter into any foreign exchange hedging activities of speculative nature. For more information regarding our translation of foreign currency-denominated amounts into U.S. dollars and our exposure to adverse movements in foreign currency exchange rates, see Item 5—Operating and Financial Review and Prospects—Factors Affecting Comparability and Results of Operations—Foreign Currency Translation and Note 20—Financial Risk Management to our Audited Consolidated Financial Statements. For more information on risks associated with currency exchange rates, including those associated with the ongoing war in Ukraine, see Item 3.D. Risk Factors—Market Risks—We are exposed to foreign currency exchange loss, fluctuation and translation risks, including as a result of the ongoing war between Russia and Ukraine. The following table summarizes information, as of December 31, 2025, regarding the maturity of the part of our bank loans and bonds for which the foreign exchange revaluation directly affects our reported profit or loss: Aggregate nominal amount of bank loans and bonds denominated in foreign currency outstanding as of December 31, Fair Value as of December 31, 2025 2026 2027 2025 Total debt: Fixed Rate (in US$ millions) 233 77 4 239 Average interest rate 4.6% 4.4% 3.1% — TOTAL 233 77 4 239 As of December 31, 2025, 63% of the group’s bank loans and bonds portfolio is fixed rate debt. For more information on our market risks and financial risk management for derivatives and other financial instruments, see Note 18—Investments, Debt and Derivatives and Note 19—Financial Risk Management to our Audited Consolidated Financial Statements.