Vodafone H1 FY25 Results Presentation
2 Vodafone Group Plc EU Taxonomy 2026
Introduction
Reporting criteria and scope
Key performance indicators
Other information
Vodafone Group Plc EU Taxonomy 2026
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C2 General
1 Vodafone Group Plc EU Taxonomy 2026
Introduction
Reporting criteria and scope
Key performance indicators
Other information
FY26 EU Taxonomy summary 1 Turnover 7.0%
EU Taxonomy reporting for the year ended 31 March 2026
CapEx 4.0%
OpEx 9.8%
The EU Taxonomy (‘EUT’) forms part of the European Union’s (‘EU’) Action Plan on Sustainable Finance and provides a classification system for identifying environmentally sustainable economic activities. It sets out defined (‘taxonomy’) criteria across six environmental objectives, providing a consistent basis for assessing whether activities contribute to the EU’s sustainability goals and enabling comparability across companies. The objective of Vodafone’s reporting is to provide transparent disclosure of the value creation and investments associated with EU Taxonomy listed activities. Under Article 8 of Regulation (EU) 2020/852, companies are required to disclose the proportion of their turnover, capital expenditure (CapEx) and operating expenditure (OpEx) associated with Taxonomy-eligible activities. The EU Taxonomy Regulation is subject to considerable interpretation and consequently in preparing these disclosures management have made certain judgements and assumptions. This disclosure reflects the simplification measures adopted by the European Commission on 4 July 2025, which amend Commission Delegated Regulation (EU) 2021/2178 and were published in the Official Journal in January 2026.
of total Group turnover from Taxonomy-eligible activities
of total Group CapEx from Taxonomy-eligible activities
of total Group OpEx from Taxonomy-eligible activities
The Group’s Taxonomy-eligible activities cumulatively represent less than 10% of Group’s Turnover, CapEx and OpEx respectively and are consequently considered not material. In accordance with the materiality provisions of the EU Taxonomy regulations, a detailed assessment of these activities against the EU Taxonomy alignment criteria, which are used to confirm whether the activity is carried out in a sustainable manner has not been performed. Accordingly, these disclosures relate to Taxonomy eligibility only. Our eligible activities at a glance Under the EU Taxonomy, economic activities are grouped into defined sectors. We have identified eligible activities by mapping the Group’s economic activities to those defined in the EU Taxonomy. This assessment considered the nature of the Group’s activities and compared these to the activity descriptions set out in the EU Taxonomy.
Taxonomy eligibility indicates that an activity is described within the scope of EU Taxonomy. It does not indicate that the activity meets the technical screening criteria, does no significant harm (‘DNSH’), or complies with minimum safeguards. No claim is made regarding Taxonomy alignment.
KPIs
Sector
Turnover
CapEx
OpEx
✓
✓
✓
Information and communication
✓
✓
✓
Manufacturing
✓
✓
✓
Services Transport
✓
✓
✓
✓
Construction and real estate activities
We have identified nine activities that fall within the scope of the EU Taxonomy. More information on these activities can be found on page 4.
Note: Includes the impact of the Vodafone UK and Three UK merger and other acquisitions during the year, as set out on page 2. This impacts the year- on-year comparability of the Group’s taxonomy-eligible activities.
2 Vodafone Group Plc EU Taxonomy 2026
Introduction
Reporting criteria and scope
Key performance indicators
Other information
Reporting criteria and scope This document outlines the basis of preparation for Vodafone’s EU Taxonomy (‘EUT’) disclosures, prepared in accordance with Article 8 of Regulation (EU) 2020/852 and Commission Delegated Regulation (EU) 2021/2178, as amended, including by Commission Delegated Regulation (EU) 2023/2486. EU Taxonomy disclosures are prepared on a consistent basis to the Group’s financial statements for the year ended 31 March 2026. Joint ventures, associates, Partner Markets and other investments where we don’t have operational control are excluded from the EU Taxonomy disclosures, unless otherwise required by EU Taxonomy Regulation. Turnover, capital expenditure and operating expenditure used in the Key Performance Indicators are derived from the Group’s financial information, and subject to the definitions and scope set out in the EU Taxonomy Regulation. Consequently, the information contained within this document may not be directly comparable to line items presented in the financial statements. The preparation of EU Taxonomy information requires the application of key judgements, estimations and assumptions by management. The EU Taxonomy framework continues to evolve, and its application involves interpretation, particularly for complex business models such as those operated by the Group. Data availability, quality and comparability may vary, while methodologies, guidance and regulatory expectations continue to develop. The information included in the Group’s EU Taxonomy disclosures has been taken from sources which we deem reliable. While all reasonable care has been taken to ensure the accuracy of the data, Vodafone has not arranged for independent verification of the data with respect to its accuracy or completeness. All financial metrics are presented in Euro (€) currency, in line with the consolidated financial statements.
Portfolio changes
The inclusion or exclusion of data from subsidiaries, joint ventures or associates that have been acquired or sold, or where there is a change in control or ownership that results in a change in operational control is determined by the date that the transaction in question is formally concluded with all approvals received. During the year ended 31 March 2026, the merger of Vodafone UK with Three UK completed on 31 May 2025, and the acquisitions of Telekom Romania Mobile Communications S.A. and Skaylink GmbH completed on 1 October 2025 and 17 December 2025, respectively. The impacts of these transactions are included in the Group’s EU Taxonomy disclosures from the relevant transaction date. The prior period comparatives reflect group structures as at the prior period reporting date.
ESG cautionary statement
In preparing this ESG-related information, we have made some key judgements, estimations and assumptions. The processes, methodologies and issues involved in preparing this information are complex. The ESG data, models and methodologies used are often relatively new, are rapidly evolving and are not necessarily of the same standard as those available in the context of financial and other information, nor are they subject to the same or equivalent disclosure standards historical reference points, benchmarks or globally accepted accounting principles. It is not possible to rely on historical data as a strong indicator of future trajectories, in the case of climate change and its evolution. Outputs of models, processed data and methodologies may be affected by underlying data quality, which can be hard to assess, and we expect industry guidance, standards, market practice and regulations in this field to continue to evolve. There are also challenges faced in relation to the ability to access certain data on a timely basis and the lack of consistency and comparability between data that is available.
C2 General
3 Vodafone Group Plc EU Taxonomy 2026
Introduction
Reporting criteria and scope
Key performance indicators
Other information
Key Performance Indicators (‘KPIs’) 1
Turnover
Capital expenditure (‘CapEx’)
Operating expenditure (‘OpEx’)
Revenue reported in the Group’s consolidated income statement (see page 149 in our FY26 Annual Report).
The total of the Group’s additions to intangible and tangible assets, including right-of-use assets (see pages 166 to 168 in our FY26 Annual Report).
The Group’s total operating expenditure across the five cost categories as listed in the EU Taxonomy.
Proportion of Turnover, CapEx and OpEx from Taxonomy-eligible activities
Our Taxonomy eligible activities 2
Total Taxonomy-eligible activities
Proportion of Taxonomy- eligible activities
Climate change mitigation Activity number 3 Activity description
2026
2026
6.5
Transport by motorbikes, passenger cars and commercial vehicles
KPI
€m
%
Turnover
40,461 18,645
7.0 4.0 9.8
7.3
Installation, maintenance and repair of energy efficiency equipment Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings
CapEx
OpEx
1,577
7.5
7.6
Installation, maintenance and repair of renewable energy technologies
8.1
Data processing, hosting and related activities
8.2
Data-driven solutions for GHG emissions reductions
Transition to a circular economy Activity number 3 Activity description
1.2
Manufacture of electrical and electronic equipment
5.4
Sale of second-hand goods
Product-as-a-service and other circular use-and result-oriented service models
5.5
Notes: 1. Includes the impact of the Vodafone UK and Three UK merger and other acquisitions during the year, as set out on page 2. This impacts the year-on-year comparability of the Group’s taxonomy-eligible activities. 2. See page 4 for further information. 3. Activity numbers are presented in accordance with the EU Taxonomy delegated acts, as referenced in Regulation (EU) 2021/2178 (as amended).
4 Vodafone Group Plc EU Taxonomy 2026
Introduction
Reporting criteria and scope
Key performance indicators
Other information
Appendix 1 – Our Taxonomy-eligible activities Climate change mitigation
EU Taxonomy activity
Description
6.5
Transport by motorbikes, passenger cars and commercial vehicles
Purchase, financing, renting, leasing and operation of vehicles.
This includes vehicles owned or long-term leased by the Group and recognised as fleet in accordance with the Group’s fleet definition and financial reporting policies.
7.3
Installation, maintenance and repair of energy efficiency equipment
Individual renovation measures consisting in installation, maintenance or repair of energy efficiency equipment.
This includes activities relating to relevant Group assets, including expenditure incurred in the installation, maintenance or upgrade of relevant infrastructure and equipment, and investment in more energy efficient or lower carbon solutions.
7.5
Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings Installation, maintenance and repair of renewable energy technologies
Installation, maintenance and repair of renewable energy technologies, on-site.
This includes activities relating to relevant Group assets, including expenditure on the installation, maintenance or repair of on ‑ site renewable energy technologies and related energy systems.
7.6
Installation, maintenance and repair of renewable energy technologies, on-site.
This includes activities relating to relevant Group assets, including expenditure on the installation, maintenance or repair of on ‑ site renewable energy technologies and related energy systems. Storage, manipulation, management, movement, control, display, switching, interchange, transmission or processing of data through data centres, including edge computing. This includes the use of data centre and cloud ‑ based infrastructure to support the storage, management and processing of data for Group operations and enterprise customers, delivered through a mix of owned, leased and third ‑ party arrangements. Development or use of ICT solutions that are aimed at collecting, transmitting, storing data and at its modelling and use where those activities are predominantly aimed at the provision of data and analytics enabling GHG emission reductions. This includes the development and deployment of ICT solutions that result in the reduction of GHG emissions, referred to as ‘carbon enablement use cases’ or ‘green digital solutions’. Estimated emissions reductions associated with eligible use cases are reviewed annually and updated accordingly.
8.1
Data processing, hosting and related activities
8.2
Data-driven solutions for GHG emissions reductions
5 Vodafone Group Plc EU Taxonomy 2026
Introduction
Reporting criteria and scope
Key performance indicators
Other information
Appendix 1 – Our Taxonomy-eligible activities (continued) Transition to a circular economy
EU Taxonomy activity
Description
1.2
Manufacture of electrical and electronic equipment
Manufacturing of electrical and electronic equipment for industrial, professional and consumer use.
This includes electronic systems designed and manufactured by Vodafone Automotive, providing solutions to support vehicle security, safety and operational reliability. Sale of second-hand goods that have been used for their intended purpose before by a previous customer or other party. This includes the sale of second ‑ hand handsets, customer premises equipment and network equipment through a range of channels, which may include direct sales, third ‑ party arrangements or other market ‑ specific mechanisms.
5.4
Sale of second-hand goods
5.5
Product-as-a-service and other circular use-and result-oriented service models
Providing customers with access to products through service models.
This includes revenue recognised from both operating and finance leases in line with the Group’s financial reporting policies.
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