Q3 FY26 Q&A Transcript

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Vodafone Group Plc

Deutsche Numis

Morgan Stanley

New Street Research

Goldman Sachs

BNP Paribas Exane

Bank of America Merrill Lynch

Barclays

JP Morgan

UBS

Berenberg

Citigroup

Turning to Africa. In December, we announced that we would be acquiring a controlling stake in Safaricom, one of the strongest telcos on the continent. This transaction will strengthen our position in Africa even further, as it simplifies Vodacom and reinforces its leadership position. We have structural growth opportunities with: • A rapidly expanding population; • Increasing data usage; and • Accelerating demand for digital services. We are in a unique position with our • Scaled networks; • Digital platforms, and • Admired brand. Vodacom is already delivering a strong performance today, and it provides some of the most exciting opportunities across the Group. Finally, turning to Business. We have now completed the acquisition of Skaylink, which will support our growth in digital services, across key areas, such as cloud and security. In summary, as we enter the final quarter of the year, our performance has been good. Across the Group, we are seeing net promoter scores increasing, complexity reducing and we are accelerating our opportunities in digital and financial services. These are solid foundations for our multi-year growth trajectory. To summarise we are trading in line with our expectations, and we are on track to deliver the upper end of our FY26 guidance. With that, Pilar and I look forward to answering your questions. — Margherita Della Valle, CEO Vodafone Group

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