VodafoneThree Investor Briefing

VODAFONETHREE ⫶ A KEY DRIVER OF GROWTH & VALUE CREATION

• More network assets than any UK operator • Fully funded £11 billion investment programme • Building the UK’s best 5G standalone, AI-ready network NETWORK LEADERSHIP

• UK’s largest mobile customer base • Clear multi-brand strategy • Market-shaping customer propositions • Customer experience leader COMMERCIAL ADVANTAGE

• Fastest growing broadband provider • Significant convergence opportunity (incl. TV) • Monetising our network quality in mobile • New structural growth opportunities in Business GROWTH OPPORTUNITIES

• Capturing significant cost and capex synergies • Fully leveraging benefits of Group scale • Key element in driving Group’s medium-term double-digit adjusted free cash flow ambition DRIVING RETURNS

Combining the scale to invest, propositions to drive growth and efficiencies to deliver sustainable long-term value

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