Wholesale network monetisation WHOLESALE ⫶ MERGER COMMITMENTS PLUS MONETISATION OPPORTUNITIES
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Wholesale Reference Offer (‘WRO’) • Commitment to offer wholesale access terms for 3 years (from June 2025) • Standardised terms - ensuring competition retained during network & capacity build Contract rollover • Existing contracts ending within 3 years have the option to rollover on same terms (extension for up to 5 years) Linked to our network commitments • Offers extended if network commitments not achieved • Clear regulatory oversight Current Wholesale commitments
Greater levels of service quality • MNVOs with simple, speed capped offerings • Ability to upsell for an additional cost Access to 5G+ • 5G standalone to be made available to MNVOs for appropriate fee Wholesale strategy framework • Protecting value creation, competition and network investment Incremental network capacity requirements • Fully funded by contracts with MVNOs
A disciplined MVNO framework – honouring our CMA commitments
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