VodafoneThree Investor Briefing

VODAFONETHREE ⫶ DELIVERING SIGNIFICANT VALUE CREATION VodafoneThree merger – a clear rationale

A B

Original £0.7 billion annual cost & capex target

A clear path to improved returns & long-term value creation D C Scale enables investment, savings and significant value creation Upgrading our cost & capex target – £1.0bn of annual savings by FY32

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