Royal Kpn Nv · EURONEXT:KPN
Royal Kpn Nv — Koninklijke Kpn — Q1 2025 Earnings Presentation
24 slides from Royal Kpn Nv's earnings presentation, Apr 24, 2025
Slide 1: KPN Q1 2025 Results
IESEGGEEE| POOUR ee POUUee wa ‘ Ny, . Hy 24 April 2025 kpn. The network of the Netherlands
Slide 2: Safe harbor
Safe harbor Alternative performance measures and management estimates. This financial report contains a number of alternative performance measures (non-GAAP figures) to provide readers with additional financial information that is regularly reviewed by management, such as EBITDA and Free Cash Flow C
Slide 3: Highlights: KPN delivers solid start to the year
Highlights: KPN delivers solid start to the year b> Continued Group service revenue growth +3.8% y-on-y, of which +0.7% Youfone b> Consumer service revenue grew 4.6% y-on-y, of which +3.4% Youfone bP Business service revenue grew 5.1% y-on-y, driven by SME and Tailored Solutions b> Adj. EBITDA AL +4
Slide 4: Strategy 2024-2027: a mission to Connect, Activate & Grow
Strategy 2024-2027: a mission to Connect, Activate & Grow Purpose We go all out to connect everyone in the Netherlands to a sustainable future e Connect Activate Grow St rateg ic Connect with our customers to Activate our best network, Grow KPN by modernizing . . deliver on their needs platforms, pa
Slide 5: Connect, Activate & Grow
&kpn Connect, Activate & Grow
Slide 6: Fiber engine running
Fiber engine running Continuously expanding fiber footprint Leading fiber footprint Homes passed (k) Homes passed as a % of Dutch households ~80% P4137) ar —(109) ar“ 100 64% 4,880 5,049 5,186 5,295 5,395 35% Q12024 = 22024 = Q32024 = 42024 = 12025 2020 12025 2026 HEEKPN footprint Il Glaspoort footp
Slide 7: B2C: Service revenue trend slightly improved
B2C: Service revenue trend slightly improved 7 Key take-aways . Consumer service revenues grew 12% y-on-y excl. Youfone, driven by Mobile and Fixed Mobile service revenue trend improved, driven by base growth Fixed service revenues supported by solid fiber broadband service revenue growth Household
Slide 8: B2C: Ongoing positive net adds; Mobile service revenue trend improved
B2C: Ongoing positive net adds; Mobile service revenue trend improved Continued positive net adds in broadband — Broadband net adds* Continued positive net adds in postpaid +45 +41 430 +30 +21 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q12025 8 Q1 2025 Results Fiber net adds ~— —Fiber net adds (excl. Copper mi
Slide 9: B2B: Sustained service revenue growth
B2B: Sustained service revenue growth 9 Key take-aways Business service revenues grew 5.1% y-on-y organically’, driven by SME and Tailored Solutions Continued strong growth in SME, mainly driven by Cloud & Workspace and broadband LCE service revenue declined, mainly driven by price pressure in Mobil
Slide 10: B2B: Organic growth driven by SME and Tailored Solutions
B2B: Organic growth driven by SME and Tailored Solutions 10 SME +10.5% +9:1% 5 +7.1% 456% +6.3% LCE 45.0% % +1.6% 10.4% +1.0% -0.2% Tailored Solutions 415% 45.8% +23% +28% +14% Q1 2024 Q2 2024 Q3 2024 Q4 2024 12025 Growth y-on-y, organic Q1 2025 Results Total adj. Business service revenues +6.0% Q12
Slide 11: Wholesale: Accelerating service revenue growth
Wholesale: Accelerating service revenue growth Key take-aways Adj. Service Revenue trend * Service revenues increased 6.1% y-on-y excl. Youfone, mainly driven by ongoing strong growth of international sponsored roaming * Broadband service revenues grew 2.1% y-on-y, driven by higher fiber service rev
Slide 12: Financial Performance
@kpn Financial Performance
Slide 13: Summary: Q1 2025 results
Summary: Q1 2025 results Adjusted revenues €1,418m +3.0% Q12024 €1377m, Net profit €169m 3.5% Q12024 € 175m Capex €294m -2.8% Q1 2024 €302m 13 Q12025 Results Adj. net indirect opex AL € 420m -€4m Q12024 € 423m, Liquidity position €2.5bn Cash & short-term investments: € 440m Committed undrawn facilit
Slide 14: Continued Group service revenue growth, supported by all segments
Continued Group service revenue growth, supported by all segments Continued Group service revenue growth 43.8% +33% 43.4% 43.2% 42.0% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q12025 = Growth y-on-y, organic 14 =~ Q12025 Results Growth driven by all segments Q12024 Consumer Business Wholesale Other Q12025 Ay-
Slide 15: Solid Operational Free Cash Flow growth; total spend broadly stable
Solid Operational Free Cash Flow growth; total spend broadly stable Operational Free Cash Flow (aoa +12% ~~ Sa | wenn +8 340 8 4 | Po 2 16 303 Q1 2024 Service revenues Non-service Direct Indirect Capex Q1 2025, revenues & Other costs costs 15 —Q12025 Results @kpn
Slide 16: FCF mainly impacted by interest payments and phasing of working capital
FCF mainly impacted by interest payments and phasing of working capital Adj. EBITDA AL Q12025 1% Capex Operational FCF Cash restructuring Change in provisions Interest paid Taxes paid Change in WC Other movements FCF Q12025 Q1 2025 Results Contribution to 4 FCF y-on-y (€ m) +28 +4 +10 »> Q125 FCF of
Slide 17: Robust liquidity position, committed to investment-grade credit profile
Robust liquidity position, committed to investment-grade credit profile 10.6x 10.5x 93x 10.5x 9.6x 23x 2ax 25x 2x 2.x . 7519 6910 76 6738, 90 6722 5596 6.039 : 5960 6,079 N36 1,440 1107 519 762 Q12024 Q2 2024 Q3 2024 Q4 2024 Q12025 iicross debt — Interest cover ratio! Hiner debt Cash & short-term in
Slide 18: Outlook 2025 and ambitions 2027
Outlook 2025 and ambitions 2027 Ambitions FY 2027! Service revenues ~3% ~3% CAGR Adj. EBITDA AL >€ 2,600m ~3% CAGR Capex ~€ 125bn <€ 1.0bn Free Cash Flow ~€ 920m ~7% CAGR 18 12025 Results CAGR compared to FY 2023 &kpn
Slide 19: Highlights: KPN delivers solid start to the year
Highlights: KPN delivers solid start to the year b> Continued Group service revenue growth +3.8% y-on-y, of which +0.7% Youfone b> Consumer service revenue grew 4.6% y-on-y, of which +3.4% Youfone bP Business service revenue grew 5.1% y-on-y, driven by SME and Tailored Solutions b> Adj. EBITDA AL +4
Slide 20: Appendices
&kpn Appendices @ Tax @ Debt portfolio G—:
Slide 21: I. Tax Q1 2025
I. Tax Q1 2025 a P&L Cash flow Region (€ m) Q12024 Q12025 Q12024 Q12025 The Netherlands -46 51 9 -26 Of which discontinued operations - = - = Reported tax from continuing operations -46 51 9 -26 20.8% 23.0% Effective tax rate continuing operations * The effective tax rate for Q1 2025 was mainly infl
Slide 22: II. Debt portfolio
Il. Debt portfolio Nominal debt by type’ Nominal debt by currency! Fixed vs. floating interest! Debt redemption profile? a) 16% 13% ° e ° w eS. '25 '26 '27 '28'29 '30 '31 '32 '33'34'35 36 Hl Eurobonds Mlcur Fixed Mlcur Hl Global bonds Hicep Floating Micse Hybrid bonds USD T USD HB oans & other (EUR
Slide 23: III. ESG dashboard: continued progress on ambitions
Ill. ESG dashboard: continued progress on ambitions “no Scope1 |? > q [Seer } Scope 2 a as Scope 3 m . 87 i) Circularity (R&R) 88 of period) 28 Women in sub top” 33 oe 2 Women at KPN B 23 == Q12025 Results Base year’ Wry 2 Wry 24 Wry 2 Wry 24 Mo 23 Hos 24 Scope 1- Direct emissions * — Gross emission
Slide 24: KPN Investor Relations
kpn KPN Investor Relations @ ir-kpn.com 24 12025 Results &§ kpn