FY24 Q3 Presentation

Europe ⫶ Growing in 8 out of 10 markets

Service revenue growth

Organic service revenue growth (%)

Key drivers

-1.0% -1.3%

-1.6%

• Strong Business growth with further public sector contract wins • Growth in FWA customers balancing fixed broadband losses • Mobile Consumer market remains competitive

-2.7%

Italy 11% of Group service revenue

-3.3%

-1.3%

Q3 FY23

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

5.7% 5.5%

5.3%

5.2%

• Strong service revenue growth in both Consumer and Business • Mobile and fixed customer growth, supported by Black Friday promos • Progressing merger with Three UK with CMA notification filed

3.8%

UK 15% of Group service revenue

+5.2%

Q3 FY23

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

4.1% 3.8%

• Service revenue growth in all markets, supported by broad based pricing actions & good commercial momentum • Further acceleration in Business growth to 7.8% (Q2: 5.2%), driven by digital services and public sector contract wins • Business driving service revenue trend improvement • Business service revenue returned to growth, supported by strong digital services demand, ERF 1 and public sector contract wins • Low-end Consumer segment competition remains intense

3.6%

3.6%

Other Europe 13% of Group service revenue

2.1%

+3.6%

Q3 FY23

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

-1.1%

-2.7%

-3.7% -3.0%

Spain 9% of Group service revenue

-1.1%

-8.7%

Q3 FY23

Q4 FY23

Q1 FY24

Q2 FY24

Q3 FY24

Q3 FY24 Trading Update ⫶ February 2024

5

1 European Recovery Funds

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