Our financial performance continued 22 Vodafone Group Plc Annual Report 2026
Strategic report
Governance
Financials
Other information
Dividends The Board is recommending total dividends per share of 4.6125 eurocents for the year. This includes a final dividend of 2.3625 eurocents compared to 2.25 eurocents in the prior year. This year’s report contains the Strategic Report on pages 1 to 70, which includes an analysis of our performance and position, a review of the business during the year, and outlines the principal risks and uncertainties we face. The Strategic Report was approved by the Board and signed on its behalf by the Group Chief Executive and Group Chief Financial Officer.
Section 219 SEC filings of interest Vodafone Group Plc (‘Vodafone’) does not have any operations in Iran i.e. subsidiaries, other equity investments, assets, facilities or employees located in Iran, and Vodafone has made no capital investment in Iran. To the best of its knowledge, no U.S. persons, including any U.S. affiliates of Vodafone, are involved in the activities described below. Except as specified below, to the best of Vodafone’s knowledge, neither Vodafone, its subsidiaries, nor its affiliates have engaged in any activities requiring disclosure under Section 13(r) of the Securities Exchange Act of 1934. Vodafone maintains an economic sanctions compliance programme which aims to ensure adherence to applicable laws and regulations and to support proactive and transparent disclosure of relevant revenues. Vodafone has wholesale roaming and interconnect arrangements (including voice and data) with mobile and fixed line operators in Iran. Vodafone has, or has had, relationships with telecommunications operators in Iran in connection with such roaming and interconnect arrangements, some of which it believes are or may be government-controlled entities. Approximate gross revenue and costs attributable to the roaming and interconnect arrangements were €112,538.63 and €349,948.19 respectively, for the financial year ended 31 March 2026.
During the financial year ended 31 March 2026, Vodafone Global Network Limited (VGN) continued to be a member of a consortium including Telecommunication Infrastructure Company of Iran (‘TIC’) (an entity controlled by the government of Iran) that has built a high-speed cable network from a landing point in Oman to Germany. Each member of the consortium is responsible for funding, building and maintaining its section of the cable, with VGN owning and being responsible for the segment from the Ukrainian border with Russia to Frankfurt, Germany. No consortium transactions or purchase of capacity took place during the financial year ended 31 March 2026 for which Vodafone was due any revenues. Vodafone, through one of its subsidiaries, registers and renews certain domain names in Iran for brand protection purposes. Renewals are submitted to the Iranian Institute for Research in Fundamental Science, which is the domain name registry in Iran. The costs of the registration and renewal of the domain names for the financial year ended 31 March 2026, including the professional fees associated therewith, were €883.44. Vodafone also continues to maintain Iranian trademarks in Iran. No fees were due to the Iranian patents or trademarks offices during the financial year ended 31 March 2026.
Vodafone has certain embassy and enterprise relationships with Iranian entities. During the financial year ended 31 March 2026, Vodafone provided telecommunications services to two Iranian national embassies and consulates globally. The approximate gross revenue attributable to both relationships during the financial year ended 31 March 2026 was €1,405.15. During the financial year ended 31 March 2026, Vodafone provided telecommunications services to seven Iranian majority-government-owned or controlled entities and/or entities listed on Office of Foreign Assets Control (OFAC) SDN list. To the best of Vodafone’s knowledge, no U.S. persons, including any U.S. affiliates of Vodafone, are involved in these activities. Five of these enterprise relationships were terminated within the financial year and are no longer active. In addition, a notice of termination has been served on the further two enterprise relationships and transactions with those entities are expected to cease in 2026. In addition to previous disclosures, the approximate total gross revenue attributable from 5 November 2018 (when relevant entities became listed on OFAC’s SDN lists), to the financial year which ended 31 March 2025, was €88,495.99. The approximate gross revenue attributable to all of the enterprise relationships during the financial year ended 31 March 2026 was €9,932.36.
Margherita Della Valle Group Chief Executive 19 May 2026
Pilar López Group Chief Financial Officer 19 May 2026
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