Vodafone 2025 Annual Report

Vodafone Group Plc Annual Report 2025 213

Strategic report

Governance

Financials

Other information

- Non GAAP measures Unaudited information -

Defined on page Page 218 Page 218 Page 219 Page 219 Page 221 Page 221 Page 221 Page 221 Page 221

Closest equivalent GAAP measure

Reconciled on page Page 219

Non-GAAP measure

Gross debt Net debt

Borrowings

In the discussion of the Group’s reported operating results, non-GAAP measures are presented to provide readers with additional financial information that is regularly reviewed by management. This additional information presented is not uniformly defined by all companies including those in the Group’s industry. Acco rdingly, it may not be comparable with similarly titled measures and disclosures by other companies. Additionally, certain information presented is derived from amounts calculated in accordance with IFRS but is not itself a measure defined under GAAP. Such measures should not be viewed in isolation or as an alternative to the equivalent GAAP measure. The non-GAAP measures discussed in this document are listed below. Defined on Closest equivalent GAAP Reconciled on Non-GAAP measure page measure page

Borrowings less cash and Page 219 cash equivalents

Pre-tax ROCE (controlled) Post-tax ROCE (controlled and associates/joint ventures) Financing and Taxation metrics Adjusted net financing costs Adjusted profit before taxation Adjusted income tax expense Adjusted effective tax rate Adjusted share of results of equity accounted associates and joint ventures Adjusted share of results of equity accounted associates and joint ventures used in post-tax ROCE

ROCE calculated using GAAP measures ROCE calculated using GAAP measures Net financing costs Profit before taxation Income tax expense Income tax expense

Page 220 Page 220 Page 24 Page 221 Page 221 Page 221

Performance metrics Organic revenue growth Organic service revenue growth

Page 214 Page 214 Page 214 Page 214 Page 214 Page 214 Page 214 Page 214

Revenue

Pages 215 and 216 Pages 215 and 216 Pages 215 and 216 Pages 215 and 216 Pages 215 and 216 Page 215 Page 215 Pages 215 and 216

Share of results of equity Page 222 accounted associates and joint ventures accounted associates and Share of results of equity Page 222

Service revenue Service revenue Service revenue Service revenue Service revenue Service revenue Service revenue

Page 221

Organic mobile service revenue growth Organic fixed service revenue growth Organic Vodafone Business service revenue growth Organic financial services revenue growth in South Africa M-Pesa revenue Service revenue growth in Türkiye excluding the impact of the hyperinflationary adjustments Group Adjusted EBITDAaL Organic Adjusted EBITDAaL growth

joint ventures

Page 214 Page 214

Operating profit Not applicable

Page 139 Page 215 Page 217 Page 218

Other metrics Adjusted profit attributable to owners of Page 217

Profit attributable to owners of the parent Basic earnings per share

the parent

Adjusted basic earnings per share Cash flow, funding and capital allocation metrics Free cash flow

Page 217

Page 218 Page 218

Inflow from operating Inflow from operating activities activities

Page 219

Adjusted free cash flow

Pages 26 and

219

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