A new chapter ⫶ Customers benefiting from investment & innovation
Representing c.60% of our mobile customer base
Sustainable pricing Healthier pricing environments expanding
9
8
5
FY22
FY24
FY26
Europe Inflation-linked pricing now embedded more widely
Africa Price floors supporting healthier markets
Markets with contractual annual price increases or price floors (#)
Infrastructure scale UK’s 4-to-3 merger is a blueprint for Europe 90.00% 2028
Pro-investment spectrum Longer licences, better pricing
Recent progress Germany: Extended spectrum terms EU’s DNA: Longer terms & auto renewals Türkiye and Egypt: Phased 5G payments and long-term visibility (2039)
-90% (vs. FY19)
2030
99.00%
2034
99.96%
FY19 FY20 FY21 FY22 FY23 FY24
Cost of spectrum in Europe (€/Mhz/pop)
VodafoneThree 5G standalone population coverage (%)
Vodafone Group Plc FY26 Results ⫶ May 2026
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