FY25 H1 Results Presentation

Europe & Turkey ⫶ Service revenue & EBITDAaL growth in all segments

+1.2% Q2 service revenue +8.4% H1 Adj. EBITDAaL

+2.6% Q2 service revenue +3.1% H1 Adj. EBITDAaL

+89.1% Q2 service revenue +114.2% H1 Adj. EBITDAaL

Other Europe 14% of Group Adj. EBITDAaL 1

UK 13% of Group Adj. EBITDAaL 1

Turkey 7% of Group Adj. EBITDAaL 1

• Lower service revenue growth due to lapping higher inflation-linked price increases in the prior year, QoQ re- accelerating from Business project phasing • Highest ever Consumer NPS & record low churn • EBITDAaL supported by cost savings & lower energy costs (+2.7pp)

• Strong Business momentum in Q2 (+7.5%); public sector project work in Greece & Romania supporting acceleration • Lower contribution from inflation-linked price increases impacting service revenue growth • Ongoing cost control supporting EBITDAaL growth

• Double-digit service revenue growth in euro terms due to repricing actions & value accretive base management • Strong demand for digital services contributing to Business growth • Service revenue, EBITDAaL & Operating FCF now well ahead of pre-devaluation levels in euro terms

Service revenue growth (%)

Service revenue growth (%) Reported growth in Euros 2

5.5%

49.5%

5.2%

3.8%

3.6%

25.2%

24.0%

2.6%

17.7%

2.3%

14.6%

1.2%

0.0%

Q2 FY24

Q3 FY24

Q4 FY24

Q1 FY25

Q2 FY25

Q2 FY24

Q3 F24

Q4 FY24

Q1 F25

Q2 FY25

Q2 FY24

Q3 FY24

Q4 FY24

Q1 FY25

Q2 FY25

1. Based on H1 FY25 Adjusted EBITDAaL contribution. 2. Excluding hyperinflationary accounting.

H1 FY25 results ⫶ November 2024