| Schedule of contractual notional amount for the derivative instruments |
| | | | | | | June 30, | | December 31, | | | 2026 | | 2025 | | | $'m | | $'m | | | | | | Derivative instruments | | | | | Embedded options within listed bonds(a) | | 2,186.0 | | 2,186.0 | Non-deliverable forwards(b) | | 285.4 | | — | | | 2,471.4 | | 2,186.0 |
| (a) | This relates to early redemption clauses within the Group’s Senior Notes (see note 15 - Borrowings). On or after November 29, 2025, the 2026 Notes may be redeemed (in whole or in part) at a price of 100.00000%. On or after September 18, 2024, the 2027 Notes may be redeemed (in whole or in part) at a price of 100.00000%. On or after November 29, 2025 or 2026, the 2028 Notes may be redeemed (in whole or in part) at a price of 101.56250% and 100.00000%, respectively. On or after November 29, 2026, 2027 or 2028, the 2030 Notes may be redeemed (in whole or in part) at a price of 103.93750%, 101.96875% and 100.00000%, respectively. On or after November 29, 2027, 2028 or 2029, the 2031 Notes may be redeemed (in whole or in part) at a price of 104.12500%, 102.06250% and 100.00000%, respectively. |
| (b) | This relates to the deal-contingent BRL/USD non-deliverable forward transaction entered into by the Group to hedge the Brazilian real-denominated portion of the expected sales proceeds relating to the disposal of our Latam towers business. This derivative is a foreign exchange forward contract which is valued using quoted market inputs for forward foreign exchange rates (i.e. a level 2 instrument). The instrument is deal-contingent, which allows the Company to settle the derivative at the point of closing of the disposal transaction, rather than on a fixed maturity date, and if the disposal does not close for reasons outlined in the derivative’s terms and conditions then the settlement is waived. |
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