Slide 1: FY26 Interim Results
FY26 Interim Results November 2025 1
Slide 2: FY26 Interim Results agenda
FY26 Interim Results ● Part one: H1 FY26 highlights Stuart Burnett - CEO ● Part two: financial performance Nick Schoenfeld - CFO ● Part three: outlook & future growth Stuart Burnett - CEO ● Q&A 2
Slide 3: Three key takeaways
H1 FY26 Interim Results Three key takeaways 4+ years of compounding ~25% customer growth and Cross-sell trial to TalkTalk double-digit % growth in customers £132-138m Adj PBT in FY26 customers exceeding expectations Driven by unique subscription-style 11% annualised organic customer ~5k customers up
Slide 4: H1 FY26 Performance Highlights
H1 FY26 Performance Highlights Stuart Burnett, CEO 4
Slide 5: H1 FY26 highlights
H1 FY26 highlights Strong customer growth and on track for another year of record profits and shareholder returns Customers Sept 25 1,386,585 >11% annualised organic customer growth, including +19.0% Mar 25 1,163,608 ~5k former TalkTalk customers upgraded and cross-sold Gross Profit H1 26 £157.6m -6.
Slide 6: H1 FY26 - 19% customer growth in a competitive market
H1 FY26 - 19% customer growth in a competitive market Delivering double-digit growth in all market conditions Competitive but rational energy market Customers (‘000s) Adj. PBT (£m) ○ All major suppliers seeking to acquire new customers Total 20.3% ○ Rational pricing reflects low regulatory EBIT margi
Slide 7: Our Unique platform for subscription-style home services
Our Unique platform for subscription-style home services Supported by award winning customer service which leads to high-value loyal customers Unique Unique multiservice 2 structural 1 platform cost advantage Which helps customers Which we reinvest to unlock navigate signing up for the ultimate reco
Slide 8: Our Unique platform for subscription-style home services
Our Unique platform for subscription-style home services Supported by award winning customer service which leads to high-value loyal customers Unique Unique multiservice 2 structural 1 We help platform people stop cost advantage wasting time and money Which helps customers Which we reinvest to unloc
Slide 9: Driving growth through our multiservice proposition
Driving growth through our multiservice proposition Enhancements to our Customer Proposition Energy Broadband Mobile Cashback card Which? Recommended Which? Recommended Most competitive entry level Open banking top-ups Energy Provider Broadband Provider offering in the market: launched in April now
Slide 10: Our Unique platform for subscription-style home services
Our Unique platform for subscription-style home services Supported by award winning customer service which leads to high-value loyal customers Unique Unique multiservice 2 structural 1 We help bundle people stop cost advantage wasting time and money Which helps customers Which we reinvest to unlock
Slide 11: Supporting UW's unique business model with efficiencies and AI
Supporting UW’s unique business model with efficiencies and AI AI and digital transformation in action helping improve efficiency H126 FY26 Medium Term Improving operational efficiency Driving revenue growth Building UW’s WoM growth model ● AI, digitisation and offshoring ● AI supported cross-sell c
Slide 12: Our Unique platform for subscription-style home services
Our Unique platform for subscription-style home services Supported by award winning customer service which leads to high-value loyal customers Unique Unique multiservice 2 structural 1 We help bundle people stop cost advantage wasting time and money Which helps customers Which we reinvest to unlock
Slide 13: Expanding our growth drivers to accelerate growth
Expanding our growth drivers to accelerate growth The 3 key pillars driving our path to 2 million customer target and beyond Team Purple Acquisitions and Cross-sell Brand Partnerships Our main growth driver Our new growth driver A future growth driver ● 71k+ Partners ● Acquiring stranded ● Brands /
Slide 14: Team Purple - only just getting started
Team Purple - only just getting started Structural ongoing tailwinds to this unique model High interest rates & cost of living ● Cost of living continues to create challenges for consumers Team Purple key stats ● November ‘26 Budget to add even more financial pressure -> UW immediate income of up to
Slide 15: Our vision for inorganic customer acquisition plus cross-sell
Our vision for inorganic customer acquisition plus cross-sell Inorganic growth will be an accelerator to reaching our 2m+ target Key benefits Progress to date Stranded single-service customers Initial inorganic acquisitions from TalkTalk (c.190k by end of H1 ● There are customer bases across all our
Slide 16: Brand Partnerships
Brand Partnerships A future growth driver What is it? New method of accessing potential customers ● Develop relationships with Brands / Companies ● Suitable for any scale of business ● Businesses introduce UW to customers and employees ● Our Partners handle the engagement with customers Why it makes
Slide 17: Our Unique platform for subscription-style home services
Our Unique platform for subscription-style home services Supported by award winning customer service which leads to high-value loyal customers Unique Unique multiservice 2 structural 1 We help bundle people stop cost advantage wasting time and money Which helps customers Which we reinvest to unlock
Slide 18: Financial Performance
Financial Performance Nick Schoenfeld, CFO 18
Slide 19: Profit & loss (£m)
Profit & loss (£m) £33m adjusted PBT primarily due to H1/H2 H1 FY26 H1 FY25 Variance rephasing as previously announced Revenue 744 698 7% Gross profit 158 168 ● H1/H2 rephasing (6%) Gross margin 21.2% 24.1% Distribution expenses ● Distribution expenses at 2.9% of sales, reflecting (22) (24) (11%) the
Slide 20: Balance sheet (£m)
Balance sheet (£m) 30 Sept 25 31 Mar 25 30 Sept 24 Variance vs 31 Mar 25 See notes on the cash flow slide Fixed assets 30 31 33 (2) Non-current assets 249 205 200 44 Net current assets 96 130 110 (34) (Net debt) (144) (116) (115) (28) ● Total debt facilities £330m: £205m RCF facilities to Nov 2028, p
Slide 21: Cashflow (£m)
Cashflow (£m) Net debt impacted by acquisition of 2nd H1 FY26 H1 FY25 TalkTalk customer book Adjusted EBITDA 45.8 56.9 ● H1/H2 phasing ● Working capital inflow, given offset to H1/H2 profit Working capital movement 35.1 11.9 rephasing ● Typical annual working capital outflow across Taxation (16.7) (15.
Slide 22: Capital allocation - strong track record of dividend growth
Capital allocation - strong track record of dividend growth Double-digit profit growth converting into growing distributable cash Capital light business model Dividend track record ● Limited working capital consumption as we grow £10m buyback FY24 ● Capital expenditure largely restricted to ongoing t
Slide 23: Outlook
Outlook Stuart Burnett, CEO 23
Slide 24: Medium term goal - Scaling from 1m to 2m customers
Medium term goal - Scaling from 1m to 2m customers 97 out of every 100 UK households is with another supplier… 7th largest residential supplier of electricity in the UK 24 UK energy market supplier share by residential electricity supply points (Source: Cornwall Insights, as at 31 July 2025)
Slide 25: Looking ahead - customer growth
Looking ahead - customer growth Proven record of delivering double-digit growth in all market conditions ~25% growth* Number of Customers Double digit growth A normalised in a normalised market with 20+ suppliers energy market Modest growth during price-war period 2015-2021 with irrational Market-le
Slide 26: Our levers to accelerate profit growth as we scale
Our levers to accelerate profit growth as we scale Gross Profit Admin Costs greater scale => greater buying power benefits from AI, digitisation, offshoring and systems investment additional higher margin services & cross-sell penetration operational efficiency from scale & cost control optimising pri
Slide 27: Outlook - an exciting time for the business with multiple opportunities
Outlook - an exciting time for the business with multiple opportunities What we expect… FY26 Medium to Longer term Double digit customer growth Building market share across core services: at 2m customers our ● ~25% total customer growth including the energy market share will still be just c.6%, leav
Slide 28: Questions & Answers
Questions & Answers EXTRA INCOME
Slide 29: Three key takeaways
H1 FY26 Interim Results Three key takeaways 4+ years of compounding ~25% customer growth and Cross-sell trial to TalkTalk double-digit % growth in customers £132-138m Adj PBT in FY26 customers exceeding expectations Driven by unique subscription-style 11% annualised organic customer ~5k customers up
Slide 30: Get in touch
Get in touch Utility Warehouse 508 Edgware Road London, NW9 5AB Telecomplus.co.uk 30
Slide 31: Disclaimer
Disclaimer The information contained in this presentation in respect of Telecom Plus PLC (the “Company”) and communicated during any delivery of the presentation, including the talks given by the presenters, any question and answer session and any document or material distributed at or in connection