UK 1 15% of Group Adj. EBITDAaL 2 UK ⫶ Good commercial momentum and fast integration +1.2% Q2 Service revenue growth
+5.4% H1 Adj, EBITDAaL
• Strong Consumer broadband growth & higher Wholesale, partially offset by Business headwind • B2B decline due to planned managed services contract terminations • UK’s largest mobile network operator, with market leading customer experience − Vodafone Ofcom complaints at industry lowest − Vodafone customer satisfaction leader
• UK’s fastest growing broadband provider, now covering 22m households with gigabit speeds • Enhanced mobile network capacity & cross-selling, driving +21k Fixed Wireless Access additions 4 in Q2 • Three Consumer contract churn reducing, reflecting improvements in customer processes & network
• Adjusted EBITDAaL growth driven by: − service revenue growth − Consumer broadband margin improvement − phasing of marketing spend • Fast-paced integration well underway – see more on page 19 & 20
Service revenue growth (%)
Net additions (‘000)
Adj. EBITDAaL (€billion)
Fixed
Mobile contract
+5.4% 3
3.3%
3.1%
41
€0.9bn
72
50
50
61
44
1.2%
1.2%
€0.7bn
0.9%
14
(46)
1
(6)
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
H1 FY25
H1 FY26
H1 FY26 Results ⫶ November 2025
1. FY26 results include two months of Vodafone UK on a standalone basis and four months of VodafoneThree results. 2. Based on H1 FY26 Adjusted EBITDAaL contribution. 3. Organic Adj. EBITDAaL growth. Organic growth represents performance on a comparable basis, excluding the impact of foreign exchange rates, mergers and acquisitions to improve the comparability of results between periods. 4. Fixed Wireless Additions are reported under mobile additions.
8
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