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      "text": "Notes: (1) All numbers relate to 2020. (2) Source: MiDia Research report published in 2020 about music streaming. (3) Refer to page 15 of this Presentation. (4) FY2020 audited financial statements. (5) From 2017 to 2021. (6) ROI (return on investment) multiple on marketing expense defined as total annual revenue divided by annual marketing expense for 2020. (7) ARPU for the month of December 2020 defined as the total premium subscription revenue divided by the total number of premium subscribers. (8) Registered user means a user that has downloaded the Anghami application and registered an account. (9) An active user means a user who used Anghami at least once over a 3-month lookback period. As of December 31, 2020. (10) During Q1, 2021.",
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