Vodafone 2025 Annual Report

Vodafone Group Plc Annual Report 2025 237

Form 20-F cross reference guide continued Unaudited information Strategic report Governance

Financials

Other information

Item

Form 20-F caption

Location in this document

Page

4D Property, plant and equipment Unresolved staff comments Operating and financial review and prospects 5A Operating results

Note 11 ‘Property, plant and equipment’

156 to 157

4A

None

5

Our financial performance Cyber security Note 21 ‘Borrowings’

19 to 29 48 to 52

171

Regulation

229 to 235 26 to 28

5B Liquidity and capital resources

Our financial performance: Cash flow, capital allocation and funding Long-term viability statement Directors’ statement of responsibility: Going concern Note 19 ‘Cash and cash equivalents’

59 117 168 171 188 235

Note 21 ‘Borrowings’ Note 28 ‘Commitments’ Note 10 ‘Intangible assets’

Note 22 ‘Capital and financial risk management’

172 to 179 154 to 156

5C Research and development, patents and licences etc.

Regulation: Overview of spectrum licences Operating in a rapidly changing industry Key performance indicators Long-term viability statement

5D Trend information

5

6 to 7

59

5E Critical accounting estimates Directors, senior management and employees 6A Directors and senior management

Note 1 ‘Basis of preparation’ Our governance structure Division of responsibilities Our Executive Committee Our Board

131 to 137 70 to 71 73 to 76 72 77 96 to 106 107 to 112

6

6B Compensation

Annual Report on Remuneration: 2025 Remuneration Note 23 ‘Directors and key management compensation’ Remuneration Policy

180

6C Board practices

Our Board

73 to 76 70 to 71 79 to 81 72 83 to 85 86 to 91

Our governance structure Division of responsibilities

Board activities and key areas of focus during the year Nominations and Governance Committee

Audit and Risk Committee Technology Committee ESG Committee Remuneration Committee Remuneration policy

92 93

94 to 95 107 to 112

Shareholder information: Articles of Association and applicable English law

224

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