Vodafone Q1 FY26 Trading Update

UK ⫶ Merger complete, forming the UK’s leading mobile operator

+0.9% Q1 Service revenue growth

UK 1 21% of Group service revenue 2

Integration

• Good growth in Consumer & Wholesale partially offset by Business decline • Slowdown in mobile due to Business project milestones delivery in Q4 • Fixed impacted by: - Business decline due to planned managed services contract terminations - strong growth in Consumer broadband

• Mobile contract base decline due to timing of Business account disconnections & Three brand Consumer contract losses • One of the fastest growing broadband

• VodafoneThree now operational with a multi-brand strategy for the mobile consumer segment • Focus on reducing ARPU dilution from Three brand churn • Spectrum sharing improving 4G speeds by up to 40% for Three UK customers • Network sharing programme to allow 28.8 million customers to seamlessly use both networks • Combined network to remove 16,500km 2 of ‘not spot’ areas by year - end with first sites already operational • ‘Just Ask Once’ customer promise launched

providers now covering 20.3m households with gigabit speeds

Service revenue growth 1 (%)

Net additions 1 (‘000)

Fixed

Mobile contract

3.3%

3.1%

61

72

50

44

44

1.2%

0.9%

41

1

(6)

0.0%

(29)

(46)

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

Q1 FY26

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

Q1 FY26

1. Q1 FY26 results include two months of Vodafone UK on a standalone basis and one month of VodafoneThree results. 2. Based on Q1 FY26 service revenue contribution.

Q1 FY26 Trading Update ⫶ July 2025

5

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