G93882192

First Equity Derivative Transaction On May 22, 2026, Vega entered into an equity derivative transaction (the "First Equity Derivative Transaction" and the documentation relating thereto the "First Equity Derivative Transaction Agreements") with an unaffiliated third party financial institution (the "Bank"), which was subsequently amended on July 13, 2026 and July 27, 2026. Under the First Equity Derivative Transaction, Vega expects to purchase up to 630,000,000 Ordinary Shares on or before February 22, 2027 (such scheduled settlement date to be automatically extended to the business day falling twelve months after May 22, 2026, unless the Bank notifies Vega before August 30, 2026 of its intention not to so extend), provided that Vega may notify an earlier scheduled settlement date as further set out below (as so extended or brought forward, the "Scheduled Settlement Date 1"). The First Equity Derivative Transaction provides for (i) automatic physical settlement in Ordinary Shares subject to certain conditions, absent any extraordinary event and including Vega's obtaining certain regulatory clearances or (ii) otherwise cash settlement as the case may be. On August 19, 2026, the first of such regulatory clearances was obtained. Accordingly, the transaction can be settled up to an amount that does not result in Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares exceeding 9.9% of total outstanding Ordinary Shares on the Scheduled Settlement Date 1 (although Vega has the right to notify an earlier Scheduled Settlement Date 1 for a physical settlement relating to the entire number of notional shares under the First Equity Derivative Transaction Agreements). Physical settlement of the balance above that threshold of the Ordinary Shares under the First Equity Derivative Transaction requires Vega to obtain the additional regulatory clearances. If such additional regulatory clearances have not been evidenced by the applicable Scheduled Settlement Date 1, the First Equity Derivative Transaction will be settled in cash (wholly or in part) such that Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares does not exceed 9.9% of total outstanding Ordinary Shares (including any delivery of Ordinary Shares pursuant to the Second Equity Derivative Transactions referred to below as the case may be). Under the terms of the First Equity Derivative Transaction Agreements, absent any extraordinary event, Vega will be obligated to pay the Bank in cash an amount defined under such agreements for the acquisition of a number of Ordinary Shares determined in accordance with the terms of such agreements, in consideration of which the Bank will be obligated, at the relevant settlement date in accordance with the terms of such agreements, to deliver such number of such Ordinary Shares. Cash dividends (relating to the Ordinary Shares not having yet been delivered to Vega under the First Equity Derivative Transaction Agreements) paid during the term thereof will give rise to a payment by the Bank to Vega for an amount determined (taking into account all relevant withholding taxes) in accordance with the First Equity Derivative Transaction Agreements. The First Equity Derivative Transaction Agreements provide that Vega does not have any direct or indirect voting, investment or dispositive control over any of the Ordinary Shares held by the Bank corresponding to its hedging position until a settlement and delivery of such shares to Vega and that the Bank will not notify or consult with Vega regarding any voting rights with respect to the Ordinary Shares that relate to its hedging position. The foregoing description of the First Equity Derivative Transaction is qualified in its entirety by reference to the terms of the First Equity Derivative Transaction Agreements, copies of which are filed as exhibits to this Schedule 13D and incorporated herein by reference. Second Equity Derivative Transactions On July 6, 2026, Vega entered into three separate equity derivative transactions (the "Second Equity Derivative Transactions" and the documentation relating thereto the "Second Equity Derivative Transaction Agreements") with three unaffiliated third party financial institutions (the "Banks"). Under the Second Equity Derivative Transactions, Vega expects to purchase up to an aggregate of 3,944,743,685 Ordinary Shares, divided substantially in equal proportions among the three Banks, on or before July 6, 2027, extendable to January 6, 2028 with the Banks' consent (the "Scheduled Settlement Date 2"). The actual timing and the number of Ordinary Shares under such transactions will be determined based on certain parameters of the Second Equity Derivative Transaction Agreements. The Second Equity Derivative Transactions provide for (i) automatic physical settlement in Ordinary Shares, absent any extraordinary event and subject to certain conditions, including Vega's obtaining certain regulatory clearances or (ii) otherwise cash settlement as the case may be. On August 19, 2026, the first of such regulatory clearances was obtained. Accordingly, automatic physical settlement in Ordinary Shares under the Second Equity Derivative Transactions may occur up to an amount that does not result in Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares exceeding 9.9% of total outstanding Ordinary Shares. Physical settlement of the balance of the Ordinary Shares under the Second Equity Derivative Transactions requires Vega to obtain the additional regulatory clearances. Vega has the right to request an earlier scheduled settlement date for a physical settlement relating to part of the Ordinary Shares thereunder. If such additional regulatory clearances have not been evidenced by the applicable scheduled date for cash settlement under the Second Equity Derivative Transaction Agreements, the Second Equity Derivative Transactions will be settled in cash (wholly or in part) such that Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares does not exceed 9.9% of total outstanding Ordinary Shares (including any delivery of Ordinary Shares pursuant to the First Equity Derivative Transaction referred to above as the case may be). Under the terms of the Second Equity Derivative Transaction Agreements, absent any extraordinary event, Vega will be obligated to pay the Banks in cash on each relevant settlement date an amount defined under such agreements for the acquisition of a number of Ordinary Shares determined in accordance with the terms of such agreements, in consideration of which the Banks will be obligated, at the relevant settlement date in accordance with the terms of such agreements, to deliver such number of such Ordinary Shares. Cash dividends (relating to the Ordinary Shares not having yet been delivered to Vega under the Second Equity Derivative Transaction Agreements) paid during the term thereof will give rise to a payment by the Banks to Vega for an amount determined (taking into account all relevant withholding taxes) in accordance with the Second Equity Derivative Transaction Agreements. The Second Equity Derivative Transaction Agreements provide that Vega does not have any direct or indirect voting, investment or dispositive control over any of the Ordinary Shares held by the Banks corresponding to their hedging positions until a settlement and delivery of such shares to Vega and that the Banks will not notify or consult with Vega regarding any voting rights with respect to the Ordinary Shares that relate to their hedging positions. The foregoing description of the Second Equity Derivative Transactions is qualified in its entirety by reference to the terms of the Second Equity Derivative Transaction Agreements, copies of which are filed as exhibits to this Schedule 13D and incorporated herein by reference. For the avoidance of doubt, the 9.9% regulatory condition limitation described above applies to Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares across the First Equity Derivative Transaction and the Second Equity Derivative Transactions taken together. Offer to Purchase Ordinary Shares On July 7, 2026, Vega delivered a binding offer (the "Binding Offer") to Emirates Telecommunications Group Company PJSC (the "Seller"), in which Vega offered to acquire the entire 3,944,743,685 Ordinary Shares owned by the Seller (the "Seller Shares") for GBX 110.4792 per share. Under the terms of the Binding Offer, each of Vega's counterparty Banks for the Second Equity Derivative Transactions would acquire the Seller Shares via off-market purchases in the form of block trades directly from the Seller to hedge their obligations under the Second Equity Derivative Transactions, including in particular the physical delivery upon maturity of the Seller Shares to Vega under the Second Equity Derivative Transactions in accordance with their terms, subject to Vega's obtaining applicable regulatory clearances (failing which the Second Equity Derivative Transactions would be settled in cash). The Seller accepted the Binding Offer on July 10, 2026. The foregoing description of the Binding Offer is qualified in its entirety by reference to the terms of the Binding Offer, a copy of which is filed as exhibit to this Schedule 13D and incorporated herein by reference. Purpose of Transaction The Reporting Persons intend to acquire the Ordinary Shares indirectly through Vega for long-term investment purposes. The Reporting Persons intend to continue to review their investment in the Issuer on an ongoing basis and, in the course of their review, may take actions (including through their affiliates) with respect to their investment or the Issuer, including communicating with the board of directors of the Issuer (the "Board"), members of management or other securityholders of the Issuer, or other third parties, including potential acquirers, from time to time, taking steps to implement a course of action, including, without limitation, engaging advisors, including legal, financial, regulatory, technical, industry and/or other advisors, to assist in any review, and evaluating strategic alternatives as they may become available. Such discussions and other actions may relate to various alternative courses of action, including, without limitation, those related to an extraordinary corporate transaction (including a merger, demerger, reorganization or liquidation) involving the Issuer or any of its subsidiaries, including any public offer for all or part of the Issuer's securities; business combinations involving the Issuer or any of its subsidiaries, a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; material asset purchases, contributions or similar transactions; the formation of joint ventures with the Issuer or any of its subsidiaries or the entry into other material projects; changes in the present business, operations, strategy, future plans or prospects of the Issuer, financial or governance matters; changes to the Board (including board composition) or management of the Issuer; acting as a participant in debt financings of the Issuer or any of its subsidiaries, changes to the capitalization, ownership structure, dividend policy, business or corporate structure or governance documents of the Issuer; de-listing or de-registration of the Issuer's securities, or any action similar to those enumerated above. Such discussions and actions may be preliminary and exploratory in nature, and not rise to the level of a plan or proposal. Additionally, the Reporting Persons may from time to time increase or decrease their investment in the Issuer depending upon the price and availability of the Issuer's securities, subsequent developments affecting the Issuer, the Issuer's business and prospects, other investment and business opportunities available to the Reporting Persons, general stock market and economic conditions, tax considerations and other factors. Other than as described above, the Reporting Persons do not currently have any plans or proposals that relate to, or may result in, any of the matters listed in subparagraphs (a) through (j) of Item 4 of Schedule 13D. However, as part of their ongoing evaluation of this investment and investment alternatives, the Reporting Persons may consider such matters and, subject to applicable law, may formulate a plan or proposal with respect to such matters, and, from time to time, may hold discussions with or make formal proposals to management or the Board, other stockholders of the Issuer or other third parties regarding such matters.

First Equity Derivative Transaction On May 22, 2026, Vega entered into an equity derivative transaction (the "First Equity Derivative Transaction" and the documentation relating thereto the "First Equity Derivative Transaction Agreements") with an unaffiliated third party financial institution (the "Bank"), which was subsequently amended on July 13, 2026 and July 27, 2026. Under the First Equity Derivative Transaction, Vega expects to purchase up to 630,000,000 Ordinary Shares on or before February 22, 2027 (such scheduled settlement date to be automatically extended to the business day falling twelve months after May 22, 2026, unless the Bank notifies Vega before August 30, 2026 of its intention not to so extend), provided that Vega may notify an earlier scheduled settlement date as further set out below (as so extended or brought forward, the "Scheduled Settlement Date 1"). The First Equity Derivative Transaction provides for (i) automatic physical settlement in Ordinary Shares subject to certain conditions, absent any extraordinary event and including Vega's obtaining certain regulatory clearances or (ii) otherwise cash settlement as the case may be. On August 19, 2026, the first of such regulatory clearances was obtained. Accordingly, the transaction can be settled up to an amount that does not result in Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares exceeding 9.9% of total outstanding Ordinary Shares on the Scheduled Settlement Date 1 (although Vega has the right to notify an earlier Scheduled Settlement Date 1 for a physical settlement relating to the entire number of notional shares under the First Equity Derivative Transaction Agreements). Physical settlement of the balance above that threshold of the Ordinary Shares under the First Equity Derivative Transaction requires Vega to obtain the additional regulatory clearances. If such additional regulatory clearances have not been evidenced by the applicable Scheduled Settlement Date 1, the First Equity Derivative Transaction will be settled in cash (wholly or in part) such that Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares does not exceed 9.9% of total outstanding Ordinary Shares (including any delivery of Ordinary Shares pursuant to the Second Equity Derivative Transactions referred to below as the case may be). Under the terms of the First Equity Derivative Transaction Agreements, absent any extraordinary event, Vega will be obligated to pay the Bank in cash an amount defined under such agreements for the acquisition of a number of Ordinary Shares determined in accordance with the terms of such agreements, in consideration of which the Bank will be obligated, at the relevant settlement date in accordance with the terms of such agreements, to deliver such number of such Ordinary Shares. Cash dividends (relating to the Ordinary Shares not having yet been delivered to Vega under the First Equity Derivative Transaction Agreements) paid during the term thereof will give rise to a payment by the Bank to Vega for an amount determined (taking into account all relevant withholding taxes) in accordance with the First Equity Derivative Transaction Agreements. The First Equity Derivative Transaction Agreements provide that Vega does not have any direct or indirect voting, investment or dispositive control over any of the Ordinary Shares held by the Bank corresponding to its hedging position until a settlement and delivery of such shares to Vega and that the Bank will not notify or consult with Vega regarding any voting rights with respect to the Ordinary Shares that relate to its hedging position. The foregoing description of the First Equity Derivative Transaction is qualified in its entirety by reference to the terms of the First Equity Derivative Transaction Agreements, copies of which are filed as exhibits to this Schedule 13D and incorporated herein by reference. Second Equity Derivative Transactions On July 6, 2026, Vega entered into three separate equity derivative transactions (the "Second Equity Derivative Transactions" and the documentation relating thereto the "Second Equity Derivative Transaction Agreements") with three unaffiliated third party financial institutions (the "Banks"). Under the Second Equity Derivative Transactions, Vega expects to purchase up to an aggregate of 3,944,743,685 Ordinary Shares, divided substantially in equal proportions among the three Banks, on or before July 6, 2027, extendable to January 6, 2028 with the Banks' consent (the "Scheduled Settlement Date 2"). The actual timing and the number of Ordinary Shares under such transactions will be determined based on certain parameters of the Second Equity Derivative Transaction Agreements. The Second Equity Derivative Transactions provide for (i) automatic physical settlement in Ordinary Shares, absent any extraordinary event and subject to certain conditions, including Vega's obtaining certain regulatory clearances or (ii) otherwise cash settlement as the case may be. On August 19, 2026, the first of such regulatory clearances was obtained. Accordingly, automatic physical settlement in Ordinary Shares under the Second Equity Derivative Transactions may occur up to an amount that does not result in Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares exceeding 9.9% of total outstanding Ordinary Shares. Physical settlement of the balance of the Ordinary Shares under the Second Equity Derivative Transactions requires Vega to obtain the additional regulatory clearances. Vega has the right to request an earlier scheduled settlement date for a physical settlement relating to part of the Ordinary Shares thereunder. If such additional regulatory clearances have not been evidenced by the applicable scheduled date for cash settlement under the Second Equity Derivative Transaction Agreements, the Second Equity Derivative Transactions will be settled in cash (wholly or in part) such that Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares does not exceed 9.9% of total outstanding Ordinary Shares (including any delivery of Ordinary Shares pursuant to the First Equity Derivative Transaction referred to above as the case may be). Under the terms of the Second Equity Derivative Transaction Agreements, absent any extraordinary event, Vega will be obligated to pay the Banks in cash on each relevant settlement date an amount defined under such agreements for the acquisition of a number of Ordinary Shares determined in accordance with the terms of such agreements, in consideration of which the Banks will be obligated, at the relevant settlement date in accordance with the terms of such agreements, to deliver such number of such Ordinary Shares. Cash dividends (relating to the Ordinary Shares not having yet been delivered to Vega under the Second Equity Derivative Transaction Agreements) paid during the term thereof will give rise to a payment by the Banks to Vega for an amount determined (taking into account all relevant withholding taxes) in accordance with the Second Equity Derivative Transaction Agreements. The Second Equity Derivative Transaction Agreements provide that Vega does not have any direct or indirect voting, investment or dispositive control over any of the Ordinary Shares held by the Banks corresponding to their hedging positions until a settlement and delivery of such shares to Vega and that the Banks will not notify or consult with Vega regarding any voting rights with respect to the Ordinary Shares that relate to their hedging positions. The foregoing description of the Second Equity Derivative Transactions is qualified in its entirety by reference to the terms of the Second Equity Derivative Transaction Agreements, copies of which are filed as exhibits to this Schedule 13D and incorporated herein by reference. For the avoidance of doubt, the 9.9% regulatory condition limitation described above applies to Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares across the First Equity Derivative Transaction and the Second Equity Derivative Transactions taken together. Offer to Purchase Ordinary Shares On July 7, 2026, Vega delivered a binding offer (the "Binding Offer") to Emirates Telecommunications Group Company PJSC (the "Seller"), in which Vega offered to acquire the entire 3,944,743,685 Ordinary Shares owned by the Seller (the "Seller Shares") for GBX 110.4792 per share. Under the terms of the Binding Offer, each of Vega's counterparty Banks for the Second Equity Derivative Transactions would acquire the Seller Shares via off-market purchases in the form of block trades directly from the Seller to hedge their obligations under the Second Equity Derivative Transactions, including in particular the physical delivery upon maturity of the Seller Shares to Vega under the Second Equity Derivative Transactions in accordance with their terms, subject to Vega's obtaining applicable regulatory clearances (failing which the Second Equity Derivative Transactions would be settled in cash). The Seller accepted the Binding Offer on July 10, 2026. The foregoing description of the Binding Offer is qualified in its entirety by reference to the terms of the Binding Offer, a copy of which is filed as exhibit to this Schedule 13D and incorporated herein by reference. Purpose of Transaction The Reporting Persons intend to acquire the Ordinary Shares indirectly through Vega for long-term investment purposes. The Reporting Persons intend to continue to review their investment in the Issuer on an ongoing basis and, in the course of their review, may take actions (including through their affiliates) with respect to their investment or the Issuer, including communicating with the board of directors of the Issuer (the "Board"), members of management or other securityholders of the Issuer, or other third parties, including potential acquirers, from time to time, taking steps to implement a course of action, including, without limitation, engaging advisors, including legal, financial, regulatory, technical, industry and/or other advisors, to assist in any review, and evaluating strategic alternatives as they may become available. Such discussions and other actions may relate to various alternative courses of action, including, without limitation, those related to an extraordinary corporate transaction (including a merger, demerger, reorganization or liquidation) involving the Issuer or any of its subsidiaries, including any public offer for all or part of the Issuer's securities; business combinations involving the Issuer or any of its subsidiaries, a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; material asset purchases, contributions or similar transactions; the formation of joint ventures with the Issuer or any of its subsidiaries or the entry into other material projects; changes in the present business, operations, strategy, future plans or prospects of the Issuer, financial or governance matters; changes to the Board (including board composition) or management of the Issuer; acting as a participant in debt financings of the Issuer or any of its subsidiaries, changes to the capitalization, ownership structure, dividend policy, business or corporate structure or governance documents of the Issuer; de-listing or de-registration of the Issuer's securities, or any action similar to those enumerated above. Such discussions and actions may be preliminary and exploratory in nature, and not rise to the level of a plan or proposal. Additionally, the Reporting Persons may from time to time increase or decrease their investment in the Issuer depending upon the price and availability of the Issuer's securities, subsequent developments affecting the Issuer, the Issuer's business and prospects, other investment and business opportunities available to the Reporting Persons, general stock market and economic conditions, tax considerations and other factors. Other than as described above, the Reporting Persons do not currently have any plans or proposals that relate to, or may result in, any of the matters listed in subparagraphs (a) through (j) of Item 4 of Schedule 13D. However, as part of their ongoing evaluation of this investment and investment alternatives, the Reporting Persons may consider such matters and, subject to applicable law, may formulate a plan or proposal with respect to such matters, and, from time to time, may hold discussions with or make formal proposals to management or the Board, other stockholders of the Issuer or other third parties regarding such matters.

First Equity Derivative Transaction On May 22, 2026, Vega entered into an equity derivative transaction (the "First Equity Derivative Transaction" and the documentation relating thereto the "First Equity Derivative Transaction Agreements") with an unaffiliated third party financial institution (the "Bank"), which was subsequently amended on July 13, 2026 and July 27, 2026. Under the First Equity Derivative Transaction, Vega expects to purchase up to 630,000,000 Ordinary Shares on or before February 22, 2027 (such scheduled settlement date to be automatically extended to the business day falling twelve months after May 22, 2026, unless the Bank notifies Vega before August 30, 2026 of its intention not to so extend), provided that Vega may notify an earlier scheduled settlement date as further set out below (as so extended or brought forward, the "Scheduled Settlement Date 1"). The First Equity Derivative Transaction provides for (i) automatic physical settlement in Ordinary Shares subject to certain conditions, absent any extraordinary event and including Vega's obtaining certain regulatory clearances or (ii) otherwise cash settlement as the case may be. On August 19, 2026, the first of such regulatory clearances was obtained. Accordingly, the transaction can be settled up to an amount that does not result in Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares exceeding 9.9% of total outstanding Ordinary Shares on the Scheduled Settlement Date 1 (although Vega has the right to notify an earlier Scheduled Settlement Date 1 for a physical settlement relating to the entire number of notional shares under the First Equity Derivative Transaction Agreements). Physical settlement of the balance above that threshold of the Ordinary Shares under the First Equity Derivative Transaction requires Vega to obtain the additional regulatory clearances. If such additional regulatory clearances have not been evidenced by the applicable Scheduled Settlement Date 1, the First Equity Derivative Transaction will be settled in cash (wholly or in part) such that Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares does not exceed 9.9% of total outstanding Ordinary Shares (including any delivery of Ordinary Shares pursuant to the Second Equity Derivative Transactions referred to below as the case may be). Under the terms of the First Equity Derivative Transaction Agreements, absent any extraordinary event, Vega will be obligated to pay the Bank in cash an amount defined under such agreements for the acquisition of a number of Ordinary Shares determined in accordance with the terms of such agreements, in consideration of which the Bank will be obligated, at the relevant settlement date in accordance with the terms of such agreements, to deliver such number of such Ordinary Shares. Cash dividends (relating to the Ordinary Shares not having yet been delivered to Vega under the First Equity Derivative Transaction Agreements) paid during the term thereof will give rise to a payment by the Bank to Vega for an amount determined (taking into account all relevant withholding taxes) in accordance with the First Equity Derivative Transaction Agreements. The First Equity Derivative Transaction Agreements provide that Vega does not have any direct or indirect voting, investment or dispositive control over any of the Ordinary Shares held by the Bank corresponding to its hedging position until a settlement and delivery of such shares to Vega and that the Bank will not notify or consult with Vega regarding any voting rights with respect to the Ordinary Shares that relate to its hedging position. The foregoing description of the First Equity Derivative Transaction is qualified in its entirety by reference to the terms of the First Equity Derivative Transaction Agreements, copies of which are filed as exhibits to this Schedule 13D and incorporated herein by reference. Second Equity Derivative Transactions On July 6, 2026, Vega entered into three separate equity derivative transactions (the "Second Equity Derivative Transactions" and the documentation relating thereto the "Second Equity Derivative Transaction Agreements") with three unaffiliated third party financial institutions (the "Banks"). Under the Second Equity Derivative Transactions, Vega expects to purchase up to an aggregate of 3,944,743,685 Ordinary Shares, divided substantially in equal proportions among the three Banks, on or before July 6, 2027, extendable to January 6, 2028 with the Banks' consent (the "Scheduled Settlement Date 2"). The actual timing and the number of Ordinary Shares under such transactions will be determined based on certain parameters of the Second Equity Derivative Transaction Agreements. The Second Equity Derivative Transactions provide for (i) automatic physical settlement in Ordinary Shares, absent any extraordinary event and subject to certain conditions, including Vega's obtaining certain regulatory clearances or (ii) otherwise cash settlement as the case may be. On August 19, 2026, the first of such regulatory clearances was obtained. Accordingly, automatic physical settlement in Ordinary Shares under the Second Equity Derivative Transactions may occur up to an amount that does not result in Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares exceeding 9.9% of total outstanding Ordinary Shares. Physical settlement of the balance of the Ordinary Shares under the Second Equity Derivative Transactions requires Vega to obtain the additional regulatory clearances. Vega has the right to request an earlier scheduled settlement date for a physical settlement relating to part of the Ordinary Shares thereunder. If such additional regulatory clearances have not been evidenced by the applicable scheduled date for cash settlement under the Second Equity Derivative Transaction Agreements, the Second Equity Derivative Transactions will be settled in cash (wholly or in part) such that Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares does not exceed 9.9% of total outstanding Ordinary Shares (including any delivery of Ordinary Shares pursuant to the First Equity Derivative Transaction referred to above as the case may be). Under the terms of the Second Equity Derivative Transaction Agreements, absent any extraordinary event, Vega will be obligated to pay the Banks in cash on each relevant settlement date an amount defined under such agreements for the acquisition of a number of Ordinary Shares determined in accordance with the terms of such agreements, in consideration of which the Banks will be obligated, at the relevant settlement date in accordance with the terms of such agreements, to deliver such number of such Ordinary Shares. Cash dividends (relating to the Ordinary Shares not having yet been delivered to Vega under the Second Equity Derivative Transaction Agreements) paid during the term thereof will give rise to a payment by the Banks to Vega for an amount determined (taking into account all relevant withholding taxes) in accordance with the Second Equity Derivative Transaction Agreements. The Second Equity Derivative Transaction Agreements provide that Vega does not have any direct or indirect voting, investment or dispositive control over any of the Ordinary Shares held by the Banks corresponding to their hedging positions until a settlement and delivery of such shares to Vega and that the Banks will not notify or consult with Vega regarding any voting rights with respect to the Ordinary Shares that relate to their hedging positions. The foregoing description of the Second Equity Derivative Transactions is qualified in its entirety by reference to the terms of the Second Equity Derivative Transaction Agreements, copies of which are filed as exhibits to this Schedule 13D and incorporated herein by reference. For the avoidance of doubt, the 9.9% regulatory condition limitation described above applies to Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares across the First Equity Derivative Transaction and the Second Equity Derivative Transactions taken together. Offer to Purchase Ordinary Shares On July 7, 2026, Vega delivered a binding offer (the "Binding Offer") to Emirates Telecommunications Group Company PJSC (the "Seller"), in which Vega offered to acquire the entire 3,944,743,685 Ordinary Shares owned by the Seller (the "Seller Shares") for GBX 110.4792 per share. Under the terms of the Binding Offer, each of Vega's counterparty Banks for the Second Equity Derivative Transactions would acquire the Seller Shares via off-market purchases in the form of block trades directly from the Seller to hedge their obligations under the Second Equity Derivative Transactions, including in particular the physical delivery upon maturity of the Seller Shares to Vega under the Second Equity Derivative Transactions in accordance with their terms, subject to Vega's obtaining applicable regulatory clearances (failing which the Second Equity Derivative Transactions would be settled in cash). The Seller accepted the Binding Offer on July 10, 2026. The foregoing description of the Binding Offer is qualified in its entirety by reference to the terms of the Binding Offer, a copy of which is filed as exhibit to this Schedule 13D and incorporated herein by reference. Purpose of Transaction The Reporting Persons intend to acquire the Ordinary Shares indirectly through Vega for long-term investment purposes. The Reporting Persons intend to continue to review their investment in the Issuer on an ongoing basis and, in the course of their review, may take actions (including through their affiliates) with respect to their investment or the Issuer, including communicating with the board of directors of the Issuer (the "Board"), members of management or other securityholders of the Issuer, or other third parties, including potential acquirers, from time to time, taking steps to implement a course of action, including, without limitation, engaging advisors, including legal, financial, regulatory, technical, industry and/or other advisors, to assist in any review, and evaluating strategic alternatives as they may become available. Such discussions and other actions may relate to various alternative courses of action, including, without limitation, those related to an extraordinary corporate transaction (including a merger, demerger, reorganization or liquidation) involving the Issuer or any of its subsidiaries, including any public offer for all or part of the Issuer's securities; business combinations involving the Issuer or any of its subsidiaries, a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; material asset purchases, contributions or similar transactions; the formation of joint ventures with the Issuer or any of its subsidiaries or the entry into other material projects; changes in the present business, operations, strategy, future plans or prospects of the Issuer, financial or governance matters; changes to the Board (including board composition) or management of the Issuer; acting as a participant in debt financings of the Issuer or any of its subsidiaries, changes to the capitalization, ownership structure, dividend policy, business or corporate structure or governance documents of the Issuer; de-listing or de-registration of the Issuer's securities, or any action similar to those enumerated above. Such discussions and actions may be preliminary and exploratory in nature, and not rise to the level of a plan or proposal. Additionally, the Reporting Persons may from time to time increase or decrease their investment in the Issuer depending upon the price and availability of the Issuer's securities, subsequent developments affecting the Issuer, the Issuer's business and prospects, other investment and business opportunities available to the Reporting Persons, general stock market and economic conditions, tax considerations and other factors. Other than as described above, the Reporting Persons do not currently have any plans or proposals that relate to, or may result in, any of the matters listed in subparagraphs (a) through (j) of Item 4 of Schedule 13D. However, as part of their ongoing evaluation of this investment and investment alternatives, the Reporting Persons may consider such matters and, subject to applicable law, may formulate a plan or proposal with respect to such matters, and, from time to time, may hold discussions with or make formal proposals to management or the Board, other stockholders of the Issuer or other third parties regarding such matters.

First Equity Derivative Transaction On May 22, 2026, Vega entered into an equity derivative transaction (the "First Equity Derivative Transaction" and the documentation relating thereto the "First Equity Derivative Transaction Agreements") with an unaffiliated third party financial institution (the "Bank"), which was subsequently amended on July 13, 2026 and July 27, 2026. Under the First Equity Derivative Transaction, Vega expects to purchase up to 630,000,000 Ordinary Shares on or before February 22, 2027 (such scheduled settlement date to be automatically extended to the business day falling twelve months after May 22, 2026, unless the Bank notifies Vega before August 30, 2026 of its intention not to so extend), provided that Vega may notify an earlier scheduled settlement date as further set out below (as so extended or brought forward, the "Scheduled Settlement Date 1"). The First Equity Derivative Transaction provides for (i) automatic physical settlement in Ordinary Shares subject to certain conditions, absent any extraordinary event and including Vega's obtaining certain regulatory clearances or (ii) otherwise cash settlement as the case may be. On August 19, 2026, the first of such regulatory clearances was obtained. Accordingly, the transaction can be settled up to an amount that does not result in Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares exceeding 9.9% of total outstanding Ordinary Shares on the Scheduled Settlement Date 1 (although Vega has the right to notify an earlier Scheduled Settlement Date 1 for a physical settlement relating to the entire number of notional shares under the First Equity Derivative Transaction Agreements). Physical settlement of the balance above that threshold of the Ordinary Shares under the First Equity Derivative Transaction requires Vega to obtain the additional regulatory clearances. If such additional regulatory clearances have not been evidenced by the applicable Scheduled Settlement Date 1, the First Equity Derivative Transaction will be settled in cash (wholly or in part) such that Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares does not exceed 9.9% of total outstanding Ordinary Shares (including any delivery of Ordinary Shares pursuant to the Second Equity Derivative Transactions referred to below as the case may be). Under the terms of the First Equity Derivative Transaction Agreements, absent any extraordinary event, Vega will be obligated to pay the Bank in cash an amount defined under such agreements for the acquisition of a number of Ordinary Shares determined in accordance with the terms of such agreements, in consideration of which the Bank will be obligated, at the relevant settlement date in accordance with the terms of such agreements, to deliver such number of such Ordinary Shares. Cash dividends (relating to the Ordinary Shares not having yet been delivered to Vega under the First Equity Derivative Transaction Agreements) paid during the term thereof will give rise to a payment by the Bank to Vega for an amount determined (taking into account all relevant withholding taxes) in accordance with the First Equity Derivative Transaction Agreements. The First Equity Derivative Transaction Agreements provide that Vega does not have any direct or indirect voting, investment or dispositive control over any of the Ordinary Shares held by the Bank corresponding to its hedging position until a settlement and delivery of such shares to Vega and that the Bank will not notify or consult with Vega regarding any voting rights with respect to the Ordinary Shares that relate to its hedging position. The foregoing description of the First Equity Derivative Transaction is qualified in its entirety by reference to the terms of the First Equity Derivative Transaction Agreements, copies of which are filed as exhibits to this Schedule 13D and incorporated herein by reference. Second Equity Derivative Transactions On July 6, 2026, Vega entered into three separate equity derivative transactions (the "Second Equity Derivative Transactions" and the documentation relating thereto the "Second Equity Derivative Transaction Agreements") with three unaffiliated third party financial institutions (the "Banks"). Under the Second Equity Derivative Transactions, Vega expects to purchase up to an aggregate of 3,944,743,685 Ordinary Shares, divided substantially in equal proportions among the three Banks, on or before July 6, 2027, extendable to January 6, 2028 with the Banks' consent (the "Scheduled Settlement Date 2"). The actual timing and the number of Ordinary Shares under such transactions will be determined based on certain parameters of the Second Equity Derivative Transaction Agreements. The Second Equity Derivative Transactions provide for (i) automatic physical settlement in Ordinary Shares, absent any extraordinary event and subject to certain conditions, including Vega's obtaining certain regulatory clearances or (ii) otherwise cash settlement as the case may be. On August 19, 2026, the first of such regulatory clearances was obtained. Accordingly, automatic physical settlement in Ordinary Shares under the Second Equity Derivative Transactions may occur up to an amount that does not result in Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares exceeding 9.9% of total outstanding Ordinary Shares. Physical settlement of the balance of the Ordinary Shares under the Second Equity Derivative Transactions requires Vega to obtain the additional regulatory clearances. Vega has the right to request an earlier scheduled settlement date for a physical settlement relating to part of the Ordinary Shares thereunder. If such additional regulatory clearances have not been evidenced by the applicable scheduled date for cash settlement under the Second Equity Derivative Transaction Agreements, the Second Equity Derivative Transactions will be settled in cash (wholly or in part) such that Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares does not exceed 9.9% of total outstanding Ordinary Shares (including any delivery of Ordinary Shares pursuant to the First Equity Derivative Transaction referred to above as the case may be). Under the terms of the Second Equity Derivative Transaction Agreements, absent any extraordinary event, Vega will be obligated to pay the Banks in cash on each relevant settlement date an amount defined under such agreements for the acquisition of a number of Ordinary Shares determined in accordance with the terms of such agreements, in consideration of which the Banks will be obligated, at the relevant settlement date in accordance with the terms of such agreements, to deliver such number of such Ordinary Shares. Cash dividends (relating to the Ordinary Shares not having yet been delivered to Vega under the Second Equity Derivative Transaction Agreements) paid during the term thereof will give rise to a payment by the Banks to Vega for an amount determined (taking into account all relevant withholding taxes) in accordance with the Second Equity Derivative Transaction Agreements. The Second Equity Derivative Transaction Agreements provide that Vega does not have any direct or indirect voting, investment or dispositive control over any of the Ordinary Shares held by the Banks corresponding to their hedging positions until a settlement and delivery of such shares to Vega and that the Banks will not notify or consult with Vega regarding any voting rights with respect to the Ordinary Shares that relate to their hedging positions. The foregoing description of the Second Equity Derivative Transactions is qualified in its entirety by reference to the terms of the Second Equity Derivative Transaction Agreements, copies of which are filed as exhibits to this Schedule 13D and incorporated herein by reference. For the avoidance of doubt, the 9.9% regulatory condition limitation described above applies to Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares across the First Equity Derivative Transaction and the Second Equity Derivative Transactions taken together. Offer to Purchase Ordinary Shares On July 7, 2026, Vega delivered a binding offer (the "Binding Offer") to Emirates Telecommunications Group Company PJSC (the "Seller"), in which Vega offered to acquire the entire 3,944,743,685 Ordinary Shares owned by the Seller (the "Seller Shares") for GBX 110.4792 per share. Under the terms of the Binding Offer, each of Vega's counterparty Banks for the Second Equity Derivative Transactions would acquire the Seller Shares via off-market purchases in the form of block trades directly from the Seller to hedge their obligations under the Second Equity Derivative Transactions, including in particular the physical delivery upon maturity of the Seller Shares to Vega under the Second Equity Derivative Transactions in accordance with their terms, subject to Vega's obtaining applicable regulatory clearances (failing which the Second Equity Derivative Transactions would be settled in cash). The Seller accepted the Binding Offer on July 10, 2026. The foregoing description of the Binding Offer is qualified in its entirety by reference to the terms of the Binding Offer, a copy of which is filed as exhibit to this Schedule 13D and incorporated herein by reference. Purpose of Transaction The Reporting Persons intend to acquire the Ordinary Shares indirectly through Vega for long-term investment purposes. The Reporting Persons intend to continue to review their investment in the Issuer on an ongoing basis and, in the course of their review, may take actions (including through their affiliates) with respect to their investment or the Issuer, including communicating with the board of directors of the Issuer (the "Board"), members of management or other securityholders of the Issuer, or other third parties, including potential acquirers, from time to time, taking steps to implement a course of action, including, without limitation, engaging advisors, including legal, financial, regulatory, technical, industry and/or other advisors, to assist in any review, and evaluating strategic alternatives as they may become available. Such discussions and other actions may relate to various alternative courses of action, including, without limitation, those related to an extraordinary corporate transaction (including a merger, demerger, reorganization or liquidation) involving the Issuer or any of its subsidiaries, including any public offer for all or part of the Issuer's securities; business combinations involving the Issuer or any of its subsidiaries, a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; material asset purchases, contributions or similar transactions; the formation of joint ventures with the Issuer or any of its subsidiaries or the entry into other material projects; changes in the present business, operations, strategy, future plans or prospects of the Issuer, financial or governance matters; changes to the Board (including board composition) or management of the Issuer; acting as a participant in debt financings of the Issuer or any of its subsidiaries, changes to the capitalization, ownership structure, dividend policy, business or corporate structure or governance documents of the Issuer; de-listing or de-registration of the Issuer's securities, or any action similar to those enumerated above. Such discussions and actions may be preliminary and exploratory in nature, and not rise to the level of a plan or proposal. Additionally, the Reporting Persons may from time to time increase or decrease their investment in the Issuer depending upon the price and availability of the Issuer's securities, subsequent developments affecting the Issuer, the Issuer's business and prospects, other investment and business opportunities available to the Reporting Persons, general stock market and economic conditions, tax considerations and other factors. Other than as described above, the Reporting Persons do not currently have any plans or proposals that relate to, or may result in, any of the matters listed in subparagraphs (a) through (j) of Item 4 of Schedule 13D. However, as part of their ongoing evaluation of this investment and investment alternatives, the Reporting Persons may consider such matters and, subject to applicable law, may formulate a plan or proposal with respect to such matters, and, from time to time, may hold discussions with or make formal proposals to management or the Board, other stockholders of the Issuer or other third parties regarding such matters.

First Equity Derivative Transaction On May 22, 2026, Vega entered into an equity derivative transaction (the "First Equity Derivative Transaction" and the documentation relating thereto the "First Equity Derivative Transaction Agreements") with an unaffiliated third party financial institution (the "Bank"), which was subsequently amended on July 13, 2026 and July 27, 2026. Under the First Equity Derivative Transaction, Vega expects to purchase up to 630,000,000 Ordinary Shares on or before February 22, 2027 (such scheduled settlement date to be automatically extended to the business day falling twelve months after May 22, 2026, unless the Bank notifies Vega before August 30, 2026 of its intention not to so extend), provided that Vega may notify an earlier scheduled settlement date as further set out below (as so extended or brought forward, the "Scheduled Settlement Date 1"). The First Equity Derivative Transaction provides for (i) automatic physical settlement in Ordinary Shares subject to certain conditions, absent any extraordinary event and including Vega's obtaining certain regulatory clearances or (ii) otherwise cash settlement as the case may be. On August 19, 2026, the first of such regulatory clearances was obtained. Accordingly, the transaction can be settled up to an amount that does not result in Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares exceeding 9.9% of total outstanding Ordinary Shares on the Scheduled Settlement Date 1 (although Vega has the right to notify an earlier Scheduled Settlement Date 1 for a physical settlement relating to the entire number of notional shares under the First Equity Derivative Transaction Agreements). Physical settlement of the balance above that threshold of the Ordinary Shares under the First Equity Derivative Transaction requires Vega to obtain the additional regulatory clearances. If such additional regulatory clearances have not been evidenced by the applicable Scheduled Settlement Date 1, the First Equity Derivative Transaction will be settled in cash (wholly or in part) such that Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares does not exceed 9.9% of total outstanding Ordinary Shares (including any delivery of Ordinary Shares pursuant to the Second Equity Derivative Transactions referred to below as the case may be). Under the terms of the First Equity Derivative Transaction Agreements, absent any extraordinary event, Vega will be obligated to pay the Bank in cash an amount defined under such agreements for the acquisition of a number of Ordinary Shares determined in accordance with the terms of such agreements, in consideration of which the Bank will be obligated, at the relevant settlement date in accordance with the terms of such agreements, to deliver such number of such Ordinary Shares. Cash dividends (relating to the Ordinary Shares not having yet been delivered to Vega under the First Equity Derivative Transaction Agreements) paid during the term thereof will give rise to a payment by the Bank to Vega for an amount determined (taking into account all relevant withholding taxes) in accordance with the First Equity Derivative Transaction Agreements. The First Equity Derivative Transaction Agreements provide that Vega does not have any direct or indirect voting, investment or dispositive control over any of the Ordinary Shares held by the Bank corresponding to its hedging position until a settlement and delivery of such shares to Vega and that the Bank will not notify or consult with Vega regarding any voting rights with respect to the Ordinary Shares that relate to its hedging position. The foregoing description of the First Equity Derivative Transaction is qualified in its entirety by reference to the terms of the First Equity Derivative Transaction Agreements, copies of which are filed as exhibits to this Schedule 13D and incorporated herein by reference. Second Equity Derivative Transactions On July 6, 2026, Vega entered into three separate equity derivative transactions (the "Second Equity Derivative Transactions" and the documentation relating thereto the "Second Equity Derivative Transaction Agreements") with three unaffiliated third party financial institutions (the "Banks"). Under the Second Equity Derivative Transactions, Vega expects to purchase up to an aggregate of 3,944,743,685 Ordinary Shares, divided substantially in equal proportions among the three Banks, on or before July 6, 2027, extendable to January 6, 2028 with the Banks' consent (the "Scheduled Settlement Date 2"). The actual timing and the number of Ordinary Shares under such transactions will be determined based on certain parameters of the Second Equity Derivative Transaction Agreements. The Second Equity Derivative Transactions provide for (i) automatic physical settlement in Ordinary Shares, absent any extraordinary event and subject to certain conditions, including Vega's obtaining certain regulatory clearances or (ii) otherwise cash settlement as the case may be. On August 19, 2026, the first of such regulatory clearances was obtained. Accordingly, automatic physical settlement in Ordinary Shares under the Second Equity Derivative Transactions may occur up to an amount that does not result in Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares exceeding 9.9% of total outstanding Ordinary Shares. Physical settlement of the balance of the Ordinary Shares under the Second Equity Derivative Transactions requires Vega to obtain the additional regulatory clearances. Vega has the right to request an earlier scheduled settlement date for a physical settlement relating to part of the Ordinary Shares thereunder. If such additional regulatory clearances have not been evidenced by the applicable scheduled date for cash settlement under the Second Equity Derivative Transaction Agreements, the Second Equity Derivative Transactions will be settled in cash (wholly or in part) such that Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares does not exceed 9.9% of total outstanding Ordinary Shares (including any delivery of Ordinary Shares pursuant to the First Equity Derivative Transaction referred to above as the case may be). Under the terms of the Second Equity Derivative Transaction Agreements, absent any extraordinary event, Vega will be obligated to pay the Banks in cash on each relevant settlement date an amount defined under such agreements for the acquisition of a number of Ordinary Shares determined in accordance with the terms of such agreements, in consideration of which the Banks will be obligated, at the relevant settlement date in accordance with the terms of such agreements, to deliver such number of such Ordinary Shares. Cash dividends (relating to the Ordinary Shares not having yet been delivered to Vega under the Second Equity Derivative Transaction Agreements) paid during the term thereof will give rise to a payment by the Banks to Vega for an amount determined (taking into account all relevant withholding taxes) in accordance with the Second Equity Derivative Transaction Agreements. The Second Equity Derivative Transaction Agreements provide that Vega does not have any direct or indirect voting, investment or dispositive control over any of the Ordinary Shares held by the Banks corresponding to their hedging positions until a settlement and delivery of such shares to Vega and that the Banks will not notify or consult with Vega regarding any voting rights with respect to the Ordinary Shares that relate to their hedging positions. The foregoing description of the Second Equity Derivative Transactions is qualified in its entirety by reference to the terms of the Second Equity Derivative Transaction Agreements, copies of which are filed as exhibits to this Schedule 13D and incorporated herein by reference. For the avoidance of doubt, the 9.9% regulatory condition limitation described above applies to Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares across the First Equity Derivative Transaction and the Second Equity Derivative Transactions taken together. Offer to Purchase Ordinary Shares On July 7, 2026, Vega delivered a binding offer (the "Binding Offer") to Emirates Telecommunications Group Company PJSC (the "Seller"), in which Vega offered to acquire the entire 3,944,743,685 Ordinary Shares owned by the Seller (the "Seller Shares") for GBX 110.4792 per share. Under the terms of the Binding Offer, each of Vega's counterparty Banks for the Second Equity Derivative Transactions would acquire the Seller Shares via off-market purchases in the form of block trades directly from the Seller to hedge their obligations under the Second Equity Derivative Transactions, including in particular the physical delivery upon maturity of the Seller Shares to Vega under the Second Equity Derivative Transactions in accordance with their terms, subject to Vega's obtaining applicable regulatory clearances (failing which the Second Equity Derivative Transactions would be settled in cash). The Seller accepted the Binding Offer on July 10, 2026. The foregoing description of the Binding Offer is qualified in its entirety by reference to the terms of the Binding Offer, a copy of which is filed as exhibit to this Schedule 13D and incorporated herein by reference. Purpose of Transaction The Reporting Persons intend to acquire the Ordinary Shares indirectly through Vega for long-term investment purposes. The Reporting Persons intend to continue to review their investment in the Issuer on an ongoing basis and, in the course of their review, may take actions (including through their affiliates) with respect to their investment or the Issuer, including communicating with the board of directors of the Issuer (the "Board"), members of management or other securityholders of the Issuer, or other third parties, including potential acquirers, from time to time, taking steps to implement a course of action, including, without limitation, engaging advisors, including legal, financial, regulatory, technical, industry and/or other advisors, to assist in any review, and evaluating strategic alternatives as they may become available. Such discussions and other actions may relate to various alternative courses of action, including, without limitation, those related to an extraordinary corporate transaction (including a merger, demerger, reorganization or liquidation) involving the Issuer or any of its subsidiaries, including any public offer for all or part of the Issuer's securities; business combinations involving the Issuer or any of its subsidiaries, a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; material asset purchases, contributions or similar transactions; the formation of joint ventures with the Issuer or any of its subsidiaries or the entry into other material projects; changes in the present business, operations, strategy, future plans or prospects of the Issuer, financial or governance matters; changes to the Board (including board composition) or management of the Issuer; acting as a participant in debt financings of the Issuer or any of its subsidiaries, changes to the capitalization, ownership structure, dividend policy, business or corporate structure or governance documents of the Issuer; de-listing or de-registration of the Issuer's securities, or any action similar to those enumerated above. Such discussions and actions may be preliminary and exploratory in nature, and not rise to the level of a plan or proposal. Additionally, the Reporting Persons may from time to time increase or decrease their investment in the Issuer depending upon the price and availability of the Issuer's securities, subsequent developments affecting the Issuer, the Issuer's business and prospects, other investment and business opportunities available to the Reporting Persons, general stock market and economic conditions, tax considerations and other factors. Other than as described above, the Reporting Persons do not currently have any plans or proposals that relate to, or may result in, any of the matters listed in subparagraphs (a) through (j) of Item 4 of Schedule 13D. However, as part of their ongoing evaluation of this investment and investment alternatives, the Reporting Persons may consider such matters and, subject to applicable law, may formulate a plan or proposal with respect to such matters, and, from time to time, may hold discussions with or make formal proposals to management or the Board, other stockholders of the Issuer or other third parties regarding such matters.

First Equity Derivative Transaction On May 22, 2026, Vega entered into an equity derivative transaction (the "First Equity Derivative Transaction" and the documentation relating thereto the "First Equity Derivative Transaction Agreements") with an unaffiliated third party financial institution (the "Bank"), which was subsequently amended on July 13, 2026 and July 27, 2026. Under the First Equity Derivative Transaction, Vega expects to purchase up to 630,000,000 Ordinary Shares on or before February 22, 2027 (such scheduled settlement date to be automatically extended to the business day falling twelve months after May 22, 2026, unless the Bank notifies Vega before August 30, 2026 of its intention not to so extend), provided that Vega may notify an earlier scheduled settlement date as further set out below (as so extended or brought forward, the "Scheduled Settlement Date 1"). The First Equity Derivative Transaction provides for (i) automatic physical settlement in Ordinary Shares subject to certain conditions, absent any extraordinary event and including Vega's obtaining certain regulatory clearances or (ii) otherwise cash settlement as the case may be. On August 19, 2026, the first of such regulatory clearances was obtained. Accordingly, the transaction can be settled up to an amount that does not result in Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares exceeding 9.9% of total outstanding Ordinary Shares on the Scheduled Settlement Date 1 (although Vega has the right to notify an earlier Scheduled Settlement Date 1 for a physical settlement relating to the entire number of notional shares under the First Equity Derivative Transaction Agreements). Physical settlement of the balance above that threshold of the Ordinary Shares under the First Equity Derivative Transaction requires Vega to obtain the additional regulatory clearances. If such additional regulatory clearances have not been evidenced by the applicable Scheduled Settlement Date 1, the First Equity Derivative Transaction will be settled in cash (wholly or in part) such that Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares does not exceed 9.9% of total outstanding Ordinary Shares (including any delivery of Ordinary Shares pursuant to the Second Equity Derivative Transactions referred to below as the case may be). Under the terms of the First Equity Derivative Transaction Agreements, absent any extraordinary event, Vega will be obligated to pay the Bank in cash an amount defined under such agreements for the acquisition of a number of Ordinary Shares determined in accordance with the terms of such agreements, in consideration of which the Bank will be obligated, at the relevant settlement date in accordance with the terms of such agreements, to deliver such number of such Ordinary Shares. Cash dividends (relating to the Ordinary Shares not having yet been delivered to Vega under the First Equity Derivative Transaction Agreements) paid during the term thereof will give rise to a payment by the Bank to Vega for an amount determined (taking into account all relevant withholding taxes) in accordance with the First Equity Derivative Transaction Agreements. The First Equity Derivative Transaction Agreements provide that Vega does not have any direct or indirect voting, investment or dispositive control over any of the Ordinary Shares held by the Bank corresponding to its hedging position until a settlement and delivery of such shares to Vega and that the Bank will not notify or consult with Vega regarding any voting rights with respect to the Ordinary Shares that relate to its hedging position. The foregoing description of the First Equity Derivative Transaction is qualified in its entirety by reference to the terms of the First Equity Derivative Transaction Agreements, copies of which are filed as exhibits to this Schedule 13D and incorporated herein by reference. Second Equity Derivative Transactions On July 6, 2026, Vega entered into three separate equity derivative transactions (the "Second Equity Derivative Transactions" and the documentation relating thereto the "Second Equity Derivative Transaction Agreements") with three unaffiliated third party financial institutions (the "Banks"). Under the Second Equity Derivative Transactions, Vega expects to purchase up to an aggregate of 3,944,743,685 Ordinary Shares, divided substantially in equal proportions among the three Banks, on or before July 6, 2027, extendable to January 6, 2028 with the Banks' consent (the "Scheduled Settlement Date 2"). The actual timing and the number of Ordinary Shares under such transactions will be determined based on certain parameters of the Second Equity Derivative Transaction Agreements. The Second Equity Derivative Transactions provide for (i) automatic physical settlement in Ordinary Shares, absent any extraordinary event and subject to certain conditions, including Vega's obtaining certain regulatory clearances or (ii) otherwise cash settlement as the case may be. On August 19, 2026, the first of such regulatory clearances was obtained. Accordingly, automatic physical settlement in Ordinary Shares under the Second Equity Derivative Transactions may occur up to an amount that does not result in Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares exceeding 9.9% of total outstanding Ordinary Shares. Physical settlement of the balance of the Ordinary Shares under the Second Equity Derivative Transactions requires Vega to obtain the additional regulatory clearances. Vega has the right to request an earlier scheduled settlement date for a physical settlement relating to part of the Ordinary Shares thereunder. If such additional regulatory clearances have not been evidenced by the applicable scheduled date for cash settlement under the Second Equity Derivative Transaction Agreements, the Second Equity Derivative Transactions will be settled in cash (wholly or in part) such that Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares does not exceed 9.9% of total outstanding Ordinary Shares (including any delivery of Ordinary Shares pursuant to the First Equity Derivative Transaction referred to above as the case may be). Under the terms of the Second Equity Derivative Transaction Agreements, absent any extraordinary event, Vega will be obligated to pay the Banks in cash on each relevant settlement date an amount defined under such agreements for the acquisition of a number of Ordinary Shares determined in accordance with the terms of such agreements, in consideration of which the Banks will be obligated, at the relevant settlement date in accordance with the terms of such agreements, to deliver such number of such Ordinary Shares. Cash dividends (relating to the Ordinary Shares not having yet been delivered to Vega under the Second Equity Derivative Transaction Agreements) paid during the term thereof will give rise to a payment by the Banks to Vega for an amount determined (taking into account all relevant withholding taxes) in accordance with the Second Equity Derivative Transaction Agreements. The Second Equity Derivative Transaction Agreements provide that Vega does not have any direct or indirect voting, investment or dispositive control over any of the Ordinary Shares held by the Banks corresponding to their hedging positions until a settlement and delivery of such shares to Vega and that the Banks will not notify or consult with Vega regarding any voting rights with respect to the Ordinary Shares that relate to their hedging positions. The foregoing description of the Second Equity Derivative Transactions is qualified in its entirety by reference to the terms of the Second Equity Derivative Transaction Agreements, copies of which are filed as exhibits to this Schedule 13D and incorporated herein by reference. For the avoidance of doubt, the 9.9% regulatory condition limitation described above applies to Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares across the First Equity Derivative Transaction and the Second Equity Derivative Transactions taken together. Offer to Purchase Ordinary Shares On July 7, 2026, Vega delivered a binding offer (the "Binding Offer") to Emirates Telecommunications Group Company PJSC (the "Seller"), in which Vega offered to acquire the entire 3,944,743,685 Ordinary Shares owned by the Seller (the "Seller Shares") for GBX 110.4792 per share. Under the terms of the Binding Offer, each of Vega's counterparty Banks for the Second Equity Derivative Transactions would acquire the Seller Shares via off-market purchases in the form of block trades directly from the Seller to hedge their obligations under the Second Equity Derivative Transactions, including in particular the physical delivery upon maturity of the Seller Shares to Vega under the Second Equity Derivative Transactions in accordance with their terms, subject to Vega's obtaining applicable regulatory clearances (failing which the Second Equity Derivative Transactions would be settled in cash). The Seller accepted the Binding Offer on July 10, 2026. The foregoing description of the Binding Offer is qualified in its entirety by reference to the terms of the Binding Offer, a copy of which is filed as exhibit to this Schedule 13D and incorporated herein by reference. Purpose of Transaction The Reporting Persons intend to acquire the Ordinary Shares indirectly through Vega for long-term investment purposes. The Reporting Persons intend to continue to review their investment in the Issuer on an ongoing basis and, in the course of their review, may take actions (including through their affiliates) with respect to their investment or the Issuer, including communicating with the board of directors of the Issuer (the "Board"), members of management or other securityholders of the Issuer, or other third parties, including potential acquirers, from time to time, taking steps to implement a course of action, including, without limitation, engaging advisors, including legal, financial, regulatory, technical, industry and/or other advisors, to assist in any review, and evaluating strategic alternatives as they may become available. Such discussions and other actions may relate to various alternative courses of action, including, without limitation, those related to an extraordinary corporate transaction (including a merger, demerger, reorganization or liquidation) involving the Issuer or any of its subsidiaries, including any public offer for all or part of the Issuer's securities; business combinations involving the Issuer or any of its subsidiaries, a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; material asset purchases, contributions or similar transactions; the formation of joint ventures with the Issuer or any of its subsidiaries or the entry into other material projects; changes in the present business, operations, strategy, future plans or prospects of the Issuer, financial or governance matters; changes to the Board (including board composition) or management of the Issuer; acting as a participant in debt financings of the Issuer or any of its subsidiaries, changes to the capitalization, ownership structure, dividend policy, business or corporate structure or governance documents of the Issuer; de-listing or de-registration of the Issuer's securities, or any action similar to those enumerated above. Such discussions and actions may be preliminary and exploratory in nature, and not rise to the level of a plan or proposal. Additionally, the Reporting Persons may from time to time increase or decrease their investment in the Issuer depending upon the price and availability of the Issuer's securities, subsequent developments affecting the Issuer, the Issuer's business and prospects, other investment and business opportunities available to the Reporting Persons, general stock market and economic conditions, tax considerations and other factors. Other than as described above, the Reporting Persons do not currently have any plans or proposals that relate to, or may result in, any of the matters listed in subparagraphs (a) through (j) of Item 4 of Schedule 13D. However, as part of their ongoing evaluation of this investment and investment alternatives, the Reporting Persons may consider such matters and, subject to applicable law, may formulate a plan or proposal with respect to such matters, and, from time to time, may hold discussions with or make formal proposals to management or the Board, other stockholders of the Issuer or other third parties regarding such matters.

First Equity Derivative Transaction On May 22, 2026, Vega entered into an equity derivative transaction (the "First Equity Derivative Transaction" and the documentation relating thereto the "First Equity Derivative Transaction Agreements") with an unaffiliated third party financial institution (the "Bank"), which was subsequently amended on July 13, 2026 and July 27, 2026. Under the First Equity Derivative Transaction, Vega expects to purchase up to 630,000,000 Ordinary Shares on or before February 22, 2027 (such scheduled settlement date to be automatically extended to the business day falling twelve months after May 22, 2026, unless the Bank notifies Vega before August 30, 2026 of its intention not to so extend), provided that Vega may notify an earlier scheduled settlement date as further set out below (as so extended or brought forward, the "Scheduled Settlement Date 1"). The First Equity Derivative Transaction provides for (i) automatic physical settlement in Ordinary Shares subject to certain conditions, absent any extraordinary event and including Vega's obtaining certain regulatory clearances or (ii) otherwise cash settlement as the case may be. On August 19, 2026, the first of such regulatory clearances was obtained. Accordingly, the transaction can be settled up to an amount that does not result in Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares exceeding 9.9% of total outstanding Ordinary Shares on the Scheduled Settlement Date 1 (although Vega has the right to notify an earlier Scheduled Settlement Date 1 for a physical settlement relating to the entire number of notional shares under the First Equity Derivative Transaction Agreements). Physical settlement of the balance above that threshold of the Ordinary Shares under the First Equity Derivative Transaction requires Vega to obtain the additional regulatory clearances. If such additional regulatory clearances have not been evidenced by the applicable Scheduled Settlement Date 1, the First Equity Derivative Transaction will be settled in cash (wholly or in part) such that Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares does not exceed 9.9% of total outstanding Ordinary Shares (including any delivery of Ordinary Shares pursuant to the Second Equity Derivative Transactions referred to below as the case may be). Under the terms of the First Equity Derivative Transaction Agreements, absent any extraordinary event, Vega will be obligated to pay the Bank in cash an amount defined under such agreements for the acquisition of a number of Ordinary Shares determined in accordance with the terms of such agreements, in consideration of which the Bank will be obligated, at the relevant settlement date in accordance with the terms of such agreements, to deliver such number of such Ordinary Shares. Cash dividends (relating to the Ordinary Shares not having yet been delivered to Vega under the First Equity Derivative Transaction Agreements) paid during the term thereof will give rise to a payment by the Bank to Vega for an amount determined (taking into account all relevant withholding taxes) in accordance with the First Equity Derivative Transaction Agreements. The First Equity Derivative Transaction Agreements provide that Vega does not have any direct or indirect voting, investment or dispositive control over any of the Ordinary Shares held by the Bank corresponding to its hedging position until a settlement and delivery of such shares to Vega and that the Bank will not notify or consult with Vega regarding any voting rights with respect to the Ordinary Shares that relate to its hedging position. The foregoing description of the First Equity Derivative Transaction is qualified in its entirety by reference to the terms of the First Equity Derivative Transaction Agreements, copies of which are filed as exhibits to this Schedule 13D and incorporated herein by reference. Second Equity Derivative Transactions On July 6, 2026, Vega entered into three separate equity derivative transactions (the "Second Equity Derivative Transactions" and the documentation relating thereto the "Second Equity Derivative Transaction Agreements") with three unaffiliated third party financial institutions (the "Banks"). Under the Second Equity Derivative Transactions, Vega expects to purchase up to an aggregate of 3,944,743,685 Ordinary Shares, divided substantially in equal proportions among the three Banks, on or before July 6, 2027, extendable to January 6, 2028 with the Banks' consent (the "Scheduled Settlement Date 2"). The actual timing and the number of Ordinary Shares under such transactions will be determined based on certain parameters of the Second Equity Derivative Transaction Agreements. The Second Equity Derivative Transactions provide for (i) automatic physical settlement in Ordinary Shares, absent any extraordinary event and subject to certain conditions, including Vega's obtaining certain regulatory clearances or (ii) otherwise cash settlement as the case may be. On August 19, 2026, the first of such regulatory clearances was obtained. Accordingly, automatic physical settlement in Ordinary Shares under the Second Equity Derivative Transactions may occur up to an amount that does not result in Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares exceeding 9.9% of total outstanding Ordinary Shares. Physical settlement of the balance of the Ordinary Shares under the Second Equity Derivative Transactions requires Vega to obtain the additional regulatory clearances. Vega has the right to request an earlier scheduled settlement date for a physical settlement relating to part of the Ordinary Shares thereunder. If such additional regulatory clearances have not been evidenced by the applicable scheduled date for cash settlement under the Second Equity Derivative Transaction Agreements, the Second Equity Derivative Transactions will be settled in cash (wholly or in part) such that Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares does not exceed 9.9% of total outstanding Ordinary Shares (including any delivery of Ordinary Shares pursuant to the First Equity Derivative Transaction referred to above as the case may be). Under the terms of the Second Equity Derivative Transaction Agreements, absent any extraordinary event, Vega will be obligated to pay the Banks in cash on each relevant settlement date an amount defined under such agreements for the acquisition of a number of Ordinary Shares determined in accordance with the terms of such agreements, in consideration of which the Banks will be obligated, at the relevant settlement date in accordance with the terms of such agreements, to deliver such number of such Ordinary Shares. Cash dividends (relating to the Ordinary Shares not having yet been delivered to Vega under the Second Equity Derivative Transaction Agreements) paid during the term thereof will give rise to a payment by the Banks to Vega for an amount determined (taking into account all relevant withholding taxes) in accordance with the Second Equity Derivative Transaction Agreements. The Second Equity Derivative Transaction Agreements provide that Vega does not have any direct or indirect voting, investment or dispositive control over any of the Ordinary Shares held by the Banks corresponding to their hedging positions until a settlement and delivery of such shares to Vega and that the Banks will not notify or consult with Vega regarding any voting rights with respect to the Ordinary Shares that relate to their hedging positions. The foregoing description of the Second Equity Derivative Transactions is qualified in its entirety by reference to the terms of the Second Equity Derivative Transaction Agreements, copies of which are filed as exhibits to this Schedule 13D and incorporated herein by reference. For the avoidance of doubt, the 9.9% regulatory condition limitation described above applies to Vega and its affiliates' aggregate beneficial ownership of Ordinary Shares across the First Equity Derivative Transaction and the Second Equity Derivative Transactions taken together. Offer to Purchase Ordinary Shares On July 7, 2026, Vega delivered a binding offer (the "Binding Offer") to Emirates Telecommunications Group Company PJSC (the "Seller"), in which Vega offered to acquire the entire 3,944,743,685 Ordinary Shares owned by the Seller (the "Seller Shares") for GBX 110.4792 per share. Under the terms of the Binding Offer, each of Vega's counterparty Banks for the Second Equity Derivative Transactions would acquire the Seller Shares via off-market purchases in the form of block trades directly from the Seller to hedge their obligations under the Second Equity Derivative Transactions, including in particular the physical delivery upon maturity of the Seller Shares to Vega under the Second Equity Derivative Transactions in accordance with their terms, subject to Vega's obtaining applicable regulatory clearances (failing which the Second Equity Derivative Transactions would be settled in cash). The Seller accepted the Binding Offer on July 10, 2026. The foregoing description of the Binding Offer is qualified in its entirety by reference to the terms of the Binding Offer, a copy of which is filed as exhibit to this Schedule 13D and incorporated herein by reference. Purpose of Transaction The Reporting Persons intend to acquire the Ordinary Shares indirectly through Vega for long-term investment purposes. The Reporting Persons intend to continue to review their investment in the Issuer on an ongoing basis and, in the course of their review, may take actions (including through their affiliates) with respect to their investment or the Issuer, including communicating with the board of directors of the Issuer (the "Board"), members of management or other securityholders of the Issuer, or other third parties, including potential acquirers, from time to time, taking steps to implement a course of action, including, without limitation, engaging advisors, including legal, financial, regulatory, technical, industry and/or other advisors, to assist in any review, and evaluating strategic alternatives as they may become available. Such discussions and other actions may relate to various alternative courses of action, including, without limitation, those related to an extraordinary corporate transaction (including a merger, demerger, reorganization or liquidation) involving the Issuer or any of its subsidiaries, including any public offer for all or part of the Issuer's securities; business combinations involving the Issuer or any of its subsidiaries, a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; material asset purchases, contributions or similar transactions; the formation of joint ventures with the Issuer or any of its subsidiaries or the entry into other material projects; changes in the present business, operations, strategy, future plans or prospects of the Issuer, financial or governance matters; changes to the Board (including board composition) or management of the Issuer; acting as a participant in debt financings of the Issuer or any of its subsidiaries, changes to the capitalization, ownership structure, dividend policy, business or corporate structure or governance documents of the Issuer; de-listing or de-registration of the Issuer's securities, or any action similar to those enumerated above. Such discussions and actions may be preliminary and exploratory in nature, and not rise to the level of a plan or proposal. Additionally, the Reporting Persons may from time to time increase or decrease their investment in the Issuer depending upon the price and availability of the Issuer's securities, subsequent developments affecting the Issuer, the Issuer's business and prospects, other investment and business opportunities available to the Reporting Persons, general stock market and economic conditions, tax considerations and other factors. Other than as described above, the Reporting Persons do not currently have any plans or proposals that relate to, or may result in, any of the matters listed in subparagraphs (a) through (j) of Item 4 of Schedule 13D. However, as part of their ongoing evaluation of this investment and investment alternatives, the Reporting Persons may consider such matters and, subject to applicable law, may formulate a plan or proposal with respect to such matters, and, from time to time, may hold discussions with or make formal proposals to management or the Board, other stockholders of the Issuer or other third parties regarding such matters.