Spark New Zealand : H1 FY24 Results Presentation

About this update from Spark New Zealand Limited

H1 25 financial snapshot $1,939m $448m $56m 1.9% decrease vs. H1 24 15.5% decrease vs. H1 24 64.3% decrease vs. H1 24 REVENUE(1) ADJUSTED EBITDAI(2)(3) ADJUSTED NPAT(2)(4) $252m $77m 12.5 cps 11.9% decrease vs. H1 24 67.4% increase vs. H1 24 1.0 cps decrease vs. H1 24 CAPEX(3) FREE CASH FLOW INTERIM DIVIDEND $1,939m $419m $35m 1.9% decrease vs. H1 24 20.9% decrease vs. H1 24 77.7% decrease vs. H1 24 REPORTED REVENUE(1) REPORTED EBITDAI(3) REPORTED NPAT Operating revenues and other gains H1 25 EBITDAI is adjusted for the impact of $29 million of transformation costs incurred in the implementation of Spark's SPK-26 Operate Programme. There were no adjusting items in H1 24. Earnings before finance income and expense, income tax, depreciation, amortisation and net investment income (EBITDAI) and capital expenditure (CAPEX) are non-Generally Accepted Accounting Principles (non-GAAP) performance measures that are defined in note 2.5 of Spark's Annual Report. H1 25 NPAT adjusted for the SPK-26 transformation costs net of tax as described in note 2 of the interim financial statements Spark New Zealand | Copyright ©️ 2025 PAGE 3 H1 25 results summary Challenging conditions persist; decisive action being taken to improve performance, which is building momentum into H2 New Zealand | Copyright ©️ 2025 Tough operating environment impacted financial performance in H1 Revenue of $1,939 million, down 1.9% YoY, driven by mobile services, IT services, and continued decline of legacy voice, and partially offset by growth in mobile devices, cloud, data centres, and IoT Adjusted EBITDAI1 of $448 million, down 15.5% YoY, driven by lower IT services project activity, the mix shift from private to public cloud, and supplier cost inflation, and offset by lower labour costs Adjusted NPAT2 of $56 million, down 64% YoY, driven by lower EBITDAI and higher depreciation and amortisation costs Spark Performance • Focus on growing market leading position in telco core through new product development, campaign activity, and annual price reviews • Portfolio simplification and review of non-core assets on track, with sale of remaining stake in Connexa3 expected to realise ~$310 million in improvement plan proceeds and a gain on sale of ~$66 million in reported EBITDAI on completion in Q3 focussed on sustained • Significantly expanded SPK-26 Operate Programme on track to deliver $80m-$100m r...

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