Slides
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Draft for internal discussion 1 1 Results for Q4 and FY 2025 February, 10 2026
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2 Results presentation: Q4 and Q1-Q4 2025 Cautionary statement This presentation contains forward-looking statements. These forward-looking statements are usually accompanied by words such as 'believe', 'intend', 'anticipate', 'plan', 'expect' and similar expressions. Actual events may differ materially from those anticipated in these forward- looking statements as a result of a number of factors. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results or outcomes to differ materially from those expressed in any forward-looking statement. Neither Telekom Austria AG nor the A1 Group nor any other person accepts any liability for any such forward-looking statements. A1 Group will not update these forward-looking statements, whether due to changed factual circumstances, changes in assumptions or expectations. Alternative performance measures are used to describe the operational performance. Please therefore also refer to the financial information presented in the Consolidated Financial Statements, as well as the reconciliation tables provided in the Earnings Release. This presentation was created with care and all data has been checked conscientiously. Nevertheless, the possibility of layout and printing errors cannot be excluded. The use of automated calculation systems may give rise to rounding differences. This presentation does not constitute a recommendation or invitation to purchase or sell securities of A1 Group. 'International' comprises the segments Bulgaria, Croatia, Belarus, Slovenia, Serbia and North Macedonia and since Q1 2025 also includes A1 Digital (A1 Group figures and figures for Austria remained unchanged) in this view. Numbers for 2024 are provided on a proforma basis for ‘international’ to provide comparability.
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3 -5.6% 779 EUR mn CAPEX excl. spectrum +3.0% 5.577 EUR mn Total revenues +3.7% 596 EUR mn Free cash flow +2.0% 2.062 EUR mn EBITDA ▪ Strong net add development FY’25: >250k mobile core postpaid ▪ ICT total gross revenue growth FY’25: +20% ▪ Advanced transformation with CDC for efficiency and B2C for B2B sales acceleration Market highlights Highlights 2025 ▪ Total revenue growth : +2-3% yoy ▪ CAPEX excl. spectrum ~ EUR 750 mn ▪ Dividend proposal to the AGM 2026: 0.42 EUR(+5%) for FY 2025 Outlook 2026 Key figures 2025 Percentage changes: year-on-year growth Dividend proposal subject to the approval of the Supervisory Board
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4 +1.9% 1.175 EUR mn Service revenues +1.1% 1.492 EUR mn Total revenues +5.4% EBITDA adjusted ▪ Serbia: 5G launched in December, spectrum acquired for 100 EURm in November 2025 ▪ North Macedonia: new entrant ▪ A1 digital started in Spain Market highlights Highlights Q4 2025 Key figures Q4 2025 Percentage changes: year-on-year growth
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5 Customer development Mobile Core Postpaid Q4 2024 18 AUT 237 International Q4 2025 13.742 13.997 1.9% Internet@Home Postpaid Q4 2024 -42 46 AUT 134 73 International Q4 2025 3.847 4.059 5.5% BBI Cube Internet@Home postpaid: including fixed broadband internet (BBI) and postpaid mobile Wifi routers
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6 Main Financials Q4 2025 Total Revenues 1.492 EUR mn Service Revenues 1.175 EUR mn EBITDA 500 EUR mn 5.4% 1.7% 9.2% -2.9% -3.9% -1.9% A1 Group Austria International 1.1% -4.7% 6.6% A1 Group Austria International* 1.7% -5.0% 9.3% A1 Group Austria International* EBITDA excl. restructuring and one-offs Austria excl. international business; reported values including IB: total revenue growth: -4.4%, service revenue growth: -4.6% Restructuring: Q4 2025 and Q4 2024: neg. EUR 21 and 28 mn; One-offs: Q4 2025: neg. EUR 17 mn vs Q4 2024: pos. EUR 33 mn
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7 Q1-Q4´25: Service revenue growth on the back of mobile core, solutions & connectivity business, broadband and TV Mobile core 2025Other Rev.VR/NRSol. & Conn.IC 4.502 4.588 Fixed VoiceFixed BB + TVCubes2024 +1,9% +86 mn Service Revenues 4.588 EUR mn Cubes: Mobile WIFI routers and data boxes; VR/NR: visitor and national roaming IC: interconnection; Sol. & Conn: solutions and connectivity
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8 2024 rep. 89 Restr. -13 One-offs 2024 adj. Mobile Fixed Restr. -96 2025 adj. 2.021 2.097 2.175 2.062 CORE OPEX clean Equipment margin One-offs 2025 rep.Other -17 +3.7% +78 mn EBITDA 2.062 EUR mn Mobile = Retail mobile service revenues + Visitor and National Roaming + IC margin mobile – roaming costs Fixed = Retail fixed service revenues + IC margin fixed Other = Solutions & connectivity + Other (excl. one-off effects) + IC margin other +2.0% +41 mn reported Q1-Q4´25: EBITDA growth driven by service revenues and cost control despite higher spending on market and customer activities
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9 Q1-Q4 2025 9 Free Cash Flow Free Cash Flow in Q1-Q4 2025 increase: • better operational result, • lower CAPEX excl. frequencies • favorable changes in working capital, offsetting • higher frequency CAPEX (EUR 110 mn in 2025 vs. EUR 39 mn in 2024) and • higher leases paid. Change in working capital and other changes: • Favorable development in receivables and payables (EUR 50 mn of spectrum to be paid in 2026) overcompensates increase in installment sales Unless otherwise stated, all amounts in EUR mn Q4 2025 Q4 2024 Δ FY 2025 FY 2024 Δ EBITDA 500 515 -3% 2,062 2,021 2% 25 26 -4% 102 91 12% Lease paid (106) (100) 6% (412) (389) 6% Income taxes paid (37) (30) 21% (152) (156) -2% Net interest paid (7) (6) 5% 10 2 317% Change working capital and other changes 31 39 -22% (52) (67) -23% CAPEX (319) (217) 47% (889) (865) 3% FCF before soc. plans 87 227 -62% 668 638 5% Social plans new funded (19) 0 n.m. (72) (63) 15% Free cash flow 68 227 -70% 596 575 4% FCF/revenues 4.5% 15.4% –10.8pp 10.7% 10.6% +0.1pp Restructuring Restructuring: charges, cost of labor obligations Lease paid: principal, interest, prepayments
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10 14 Focus Points
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11 Unlocking growth with an expanding digital solutions portfolio Total Revenue Gross incl Gross Service Revenue incl M2M, Equipment Revenues. 2021 Service Revenue Equipment 2025 285 573 +19% CAGR Cloud IT Services Security Other +16% CAGR +33% CAGR +20% yoy in 2025 Total Revenues ICT Gross EUR mn Scaling New Opportunities Unlock SME Potential • Target and expand in the SME segment Scale & Specialise • B2B Delivery Center launched 2025 • Unified Business Delivery Center for all markets • Meet demand at scale (Security, Cloud, Managed IT, etc.) Expand International Footprint • Capture growth with A1 Digital Spain
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12 A1 Austria | Multitechnology investments and customer focus within robust OPEX framework Fiber 987.000 homes passed 4G 99% 5G 86% homes passed counting changed in 2025, comparable figure 2024: 919k homes passed; all data per YE 2025, net additions and % growth versus YE 2024 Commercial and Operational Priorities • Market investments • Customer segmentation • Optimization of distribution channels • Stringent OPEX control and constant transformation Multitechnology Strategy • Technology-agnostic approach • Fiber roll-out adapted to regulatory and market environment +18k net adds mobile core postpaid +4k net adds Internet@home postpaid 12% lower FTEs +5% ICT revenues gross
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13 14 Outlook
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14 15 Revenues CAPEX +2 - 3% p.a. ~ EUR 750 mn 42 EURc +2 EURc yoy Dividend CAPEX excluding spectrum and M&A; Dividend proposal to the AGM 2026 for the financial year 2025, subject to Supervisory Board approval
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15 14 Appendix
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16 Total Revenues 5.577 EUR mn Service Revenues 4.588 EUR mn EBITDA 2.062 EUR mn EBITDA excl. restructuring and one-offs 3.0% -2.5% 8.8% A1 Group Austria International* 1.9% -3.3% 7.7% A1 Group Austria International* 3.7% -1.9% 9.5% 2.0% -4.9% 8.8% A1 Group Austria International Main Financials Q1-Q4 2025 Austria excl. international business; reported values including IB: Total revenue growth: -2.2%, service revenue growth: -2.9% Restructuring: Q1-Q4´25: neg. EUR 96 mn vs. Q1-Q4´24: neg. EUR 89 mn; One-offs: Q1-Q4´25: neg. EUR 17 mn vs. Q1-Q4´24: pos. EUR 13mn
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17 Mobile subscribers (in thousand) RGUs (in thousand) Group ARPU and ARPL op.* *excl. M2M Customer development -0.6% -4.4% +11.3% Mobile subscribers +3.3% broadband (BB) +14.8% advanced BB +6.5% TV -0.6% ARPU operative -4.4% ARPL operative *operative = excl. M2M in CCY +1.7% y-o-y 11.5 26.3 11.5 27.5 ARPU op. in CCY ARPL op. in CCY Q4 2025 Q4 2024 25% 24% 24% 23% 23% 44% 44% 44% 44% 44% 31% 32% 32% 32% 33% 6,352 6,379 6,395 6,412 6,460 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Total fixed voice Total broadband TV@home 27,122 27,588 28,306 29,289 30,179 86% 87% 87% 87% 88% Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Subscribers Share postpaid
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18 8 P&L Total OPEX • Increase in FY due to higher cost of equipment • Operationally stable in Q4 2025 Operationally, core OPEX increase in Q4 and FY: • Q1-Q4: Stable total workforce costs; stringent cost control mitigates product-related increases and market investments • Q4: Total workforce costs (excl restructuring) increase slightly, savings (i.e. maintenance) mitigate product-related cost increases EBIT declined in Q4 and Q1-Q4: • higher D&A due to different asset mix Financial result improved in both periods • mainly due to higher interest income Resulting in net result decline Q4 and FY 2025 Unless otherwise stated, all amounts in EUR mn Q4 2025 Q4 2024 Δ FY 2025 FY 2024 Δ Revenues 1,492 1,476 1% 5,577 5,413 3% OPEX (992) (961) 3% (3,515) (3,391) 4% EBITDA 500 515 -3% 2,062 2,021 2% Margin 33.5% 34.9% –1.4pp 37.0% 37.3% –0.4pp one-off effects 17 -33 - 17 -13 - Restructuring 21 28 -25% 96 89 8% EBITDA excl. one-offs & restr. 538 511 5% 2,175 2,097 4% Margin 36.1% 34.8% +1.3pp 39.0% 38.8% +0.2pp 392 408 -4% 1,632 1,603 2% Margin 26.3% 27.7% –1.4pp 29.3% 29.6% –0.4pp EBIT 186 211 -12% 852 861 -1% EBIT margin 12.5% 14.3% –1.8pp 15.3% 15.9% –0.6pp Financial result (20) (24) -15% (76) (98) -23% Income taxes (21) (2) n.m. (163) (137) 19.2% Net result 145 185 -22% 613 627 -2% EBITDAaL
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19 Conservative financial policy and investment-grade ratings As of December 31, 2025 Fixed-interest bond, due Dec, 2026 • Fitch confirmed A- in 7/2025 • S&P confirmed A- in 5/2025 • Moody’s confirmed A3 in 10/2025 • Total committed lines: EUR 1,315 mn o Average term to maturity: 4.32 years • Undrawn committed credit lines: EUR 1,315 mn Overview (December 31, 2025) Lines of credit (December 31, 2025) Credit ratings Net debt/EBITDA Debt maturity profile (December 31, 2025) • Total financial debt: EUR 754 mn • Average cost of debt: 1.50% • Cash & cash equivalents: EUR 362 mn • Avg. term to maturity: 0.93 years 31. Dec 2021 31. Dec 2022 31. Dec 2023 31. Dec 2024 31.Dez. 2025 1.7x 1.3x 1.3x 1.0x 1.3x 0.4x 1.1x 0.2x 0.9x 0.0x Net debt/EBITDA Net debt (excl.leases)/EBITDAaL 2019 2020 2021 2022 2023 2024 2025 Moody´s S&P Fitch 754 0 2026 2027 2028 2029 2030 2031 Financial debt FCF 2025 596 BBB/ Baa2 BBB+/ Baa1 A3/A-
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Draft for internal discussion 20 20 End of Presentation