Slide 1: This
***Este documento está clasificado como USO INTERNO por TELEFÓNICA. ***This document is classified as INTERNAL USE by TELEFÓNICA.
Slide 2: Disclaimer
Disclaimer This document and any related conference call or webcast (including any related Q&A session) has been You are cautioned not to place undue reliance on any forward-looking statements contained in this prepared by Telefónica, S.A. (“Telefónica” or the “Company”, and together with its subsid
Slide 3: Q2 25 Summary
Q2 25 Summary Mr. Marc Murtra Chairman & CEO ***Este documento está clasificado como USO INTERNO por TELEFÓNICA. ***This document is classified as INTERNAL USE by TELEFÓNICA.
Slide 4: Four principles guiding our transformation
Four principles guiding our transformation 1 Customers at the core of everything we do 3 Disciplined industrial rational Strict financial discipline 2 4 Technology & Value creation for operational excellence all stakeholders Europe and leadership in key for our business Brasil as priorities Strategi
Slide 5: Solid progress in strategy execution, Q2 milestones
Solid progress in strategy execution, Q2 milestones CUSTOMER Next Generation Efficiency driven focus NETWORKS MANAGEMENT 348.6m Fibre 81.4m CapEx reduction on efficiencies +1.9m q-o-q +1.5m PPs q-o-q Milestone of Copper switch-off in Spain Automation of processes Improved CLV 5G coverage 77% New arc
Slide 6: Accelerating portfolio transformation in Hispam
Accelerating portfolio transformation in Hispam 2025 T. Argentina T. Colombia T. Peru T. Uruguay T. Ecuador sale February 24th signing March 12th sale April 13th signing May 21st signing June 13th Sale of T. Argentina (€1.2bn), simultaneous signing and closing executed Binding agreement for T. Colom
Slide 7: Overview of key financials; acceleration in organic growth
Overview of key financials; acceleration in organic growth H1 25 Q2 25 Reported Organic Reported Organic € in millions Reported Reported y-o-y y-o-y y-o-y y-o-y Revenue 18,013 (3.3%) 1.5% 8,953 (3.7%) 1.5% FX impact in reported Service revenue 16,263 (3.3%) 1.6% 8,104 (3.8%) 1.6% -4.9p.p. in revenue
Slide 8: Delivering steady underlying performance
Delivering steady underlying performance Contribution to y-o-y growth Group EBITDA y-o-y organic Q2 o/ Group org. H1 EBITDA y-o-y organic Spain; improved EBITDAaL-CapEx (+2.8%, +0.8 q-o-q) • Q2 net adds, the best since Q3 18 • Consistent trend in Service Revenue (+1.0%) and EBITDA (+1.0%) 36% +0.4 p
Slide 9: On track: 2025 guidance confirmed
On track: 2025 guidance confirmed Revenue EBITDA EBITDAaL-CapEx CapEx / Sales FCF (continuing operations) Organic growth Organic growth Organic growth < 12.5% organic Similar to 2024 +1.5% y-o-y +0.8% y-o-y -0.2% y-o-y 11.1% €291m FCF phasing aligned through H2 25. Main lever for €0.30 DPS Leverage
Slide 10: Q2 25 Operating Business
Q2 25 Operating Business Mr. Emilio Gayo COO ***Este documento está clasificado como USO INTERNO por TELEFÓNICA. ***This document is classified as INTERNAL USE by TELEFÓNICA.
Slide 11: Q2 operating business: disciplined execution
Q2 operating business: disciplined execution Commercial Standout network Consistent momentum quality execution ***Este documento está clasificado como USO INTERNO por TELEFÓNICA. 8 ***This document is classified as INTERNAL USE by TELEFÓNICA.
Slide 12: Spain: Accelerating growth in customers and financials
Spain: Accelerating growth in customers and financials Net adds (k) Convergent KPIs • Best quarter net adds since Q3 18 FBB Postpaid Convergent Pay TV - y-o-y growth of accesses accelerate ARPU (€) Churn (%) +2.1% +2.7% +0.8% +6.4% Accesses y-o-y - Better portability and churn • Reinforced competiti
Slide 13: Brazil: Growth in high value accesses and accelerating financial growth
Brazil: Growth in high value accesses and accelerating financial growth Net adds (k) KPIs (local currency) FBB Contract FTTH ARPU Contract ARPU • Clear leadership in the market +9.9% +6.4% Accesses y-o-y FTTH Churn Contract Churn - Market share: postpaid (43%) FTTH (18%) 91 91 92 89 88 - Vivo Total
Slide 14: Germany: focused on mitigating the effect of 1&1 migration
Germany: focused on mitigating the effect of 1&1 migration Net adds (k) ARPU (y-o-y) Postpaid Fixed BB IoT • Robust mobile trading, contract net adds O2 Postpaid Fixed BB +12.1% q-o-q +6.9% -1.0% +24.9% Accesses (y-o-y) - Somewhat higher promotional activity in the market 215 226 226 5.2% 4.9% 4.8%
Slide 15: VMO2: Focus on value over volume
VMO2: Focus on value over volume Net adds (k) ARPU (y-o-y) Postpaid Fixed BB Postpaid Fixed BB -1.5% -1.2% Accesses (y-o-y) • Contract churn improved to 1.1% • Consumer fixed ARPU growth; £1.5 q-o-q 16 12 • Fixed footprint reaches 18.5m UBB PPs 3.1% 2.6% 2.2% 2.0% (12) (15) (19) 1.6% 1.4% • Revenue
Slide 16: Hispam: Better commercial trends
Hispam: Better commercial trends Net adds (k) FTTH premises passed (m) FBB Contract +1.2% -1.0% Accesses y-o-y • Sustained improvement in commercials 125 - Positive contract net adds in Mexico, 68 13.9 Colombia & Chile 26 13.6 13 3 13.3 12.7 - FTTH/FBB accesses (99%, +5 p.p.) 12.0 (10) (5) (34) • Se
Slide 17: Telefónica Tech / Telefónica Infra
Telefónica Tech / Telefónica Infra Telefónica Tech Telefónica Infra Revenue (€ million) (y-o-y organic) • Contributes to the industrial transformation and efficiency of the OBs • Maintains its role as growth enabler +6.6% +12.5% +9.6% 1,074 ~€2.2bn FTTH JV premises passed (m) LTM Revenue (via FibreC
Slide 18: Q2 25 Financials / ESG
Q2 25 Financials / ESG Mrs. Laura Abasolo CFCO ***Este documento está clasificado como USO INTERNO por TELEFÓNICA. ***This document is classified as INTERNAL USE by TELEFÓNICA.
Slide 19: FCF improvement, solid balance sheet
FCF improvement, solid balance sheet FCF continuing operations € in millions FCF € in millions 2024 +€718m q-o-q H1 24 2025 H1 25 506 540 505 506 291 291 218 169 (34) (123) (213) (288) Q1 Q2 H1 Discontinued Continuing Total FCF op. FCF op. FCF Net Financial Debt Liquidity Fixed debt ND/EBITDAaL ND/E
Slide 20: Environmental Social Governance
Leading in sustainability Environmental Social Governance Substantiating our net zero goals Customer at the centre Reinforcing ethical behaviour Updated Climate Action Plan published Personalised service model (Spain) Updated course for employees CDP Supplier Engagement Leader: Committed to diversit
Slide 21: Key takeaways
Key takeaways Mr. Marc Murtra Chairman & CEO ***Este documento está clasificado como USO INTERNO por TELEFÓNICA. ***This document is classified as INTERNAL USE by TELEFÓNICA.
Slide 22: Delivering another solid quarter and building Telefónica's next chapter
Delivering another solid quarter and building Telefónica's next chapter Executing today Building tomorrow • Positive momentum in core markets, consistent and focused execution • Strategic review progressing on schedule for H2 unveiling • Accelerating Hispam disposals; already Argentina, Peru, Colomb
Slide 23: Results presentation and Q&A Session
Results presentation and Q&A Session Telefónica’s management will host a webcast on 30 July at 10:00 AM (CEST), 9:00 AM (BST), and 4:00 AM (EDT) Participants from Telefónica • Marc Murtra l Chairman & CEO • Lutz Schüler l CEO Virgin Media O2 • Emilio Gayo l COO • Eduardo Navarro l Chief Corporate Af
Slide 24: ESG ratings and investor relations contacts
Bloomberg ESG Score CDP 2024 ISS ESG Corporate Sustainalytics ESG Social Benchmark #2 in sector Climate A #1 in sector Rating Industry Top Rated 1st company worldwide List 2024 #1 in sector 2025 2024 For further information, please contact: FOLLOW US: Investor Relations Torsten Achtmann (torsten.ach