Slides
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1 & 1 H1 and Outlook 2026
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Ralph Dommermuth ▪ Company Development H1 2026 ▪ Financials H1 2026 ▪ Outlook 2026 2 Sascha D‘Avis
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Company development H1 2026
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Mobile ▪ 12.33 million mobile contracts ▪ Broad market reach through target group specific brands Broadband ▪ 3.85 million broadband connections ▪ VDSL- und FTTH complete packages based on our fiber-optic network, last mile via Deutscher Telekom and regional carriers (e. g. Deutsche Glasfaser, Glasfaser Nordwest, M-Net, NetCologne, OXG, Westconnect, wilhelm.tel etc.) ▪ Germany's largest FTTH footprint: approximately 80% of household connections are connected to the 1&1 transport network Consumer & Small Business 41 “Very Good” (over 910 points) from connect (www.connect.de/3211255) in a special analysis based on its mobile network test benchmark metric for the network quality of 1&1 O-RAN combined with Vodafone’s national roaming. For more information, visit www.1und1.de/test. In the main test, published in the January 2026 issue of connect, other network operators received 1 “Outstanding” rating (975 points) and 2 “Very Good” ratings (937 points). (1)
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5 Enterprises & Networks Mobile ▪ Europe‘s first Open-RAN, fully virtualized ▪ Household coverage >34% (2025: >27%) using only mid-band and high-band frequencies Broadband ▪ Operation of one Germany‘s most high-performance fibre-optic networks ▪ ca. 70,000 km ▪ available in > 350 cities ▪ Project based business and plug-and-play solutions for businesses ▪ Over 30,000 directly connected locations
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0 10 20 30 40 50 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026 Current frequency allocation % % % % % % 27 % 29 % 34 % ca. 36 % ca. 40 % Household Coverage of the 1&1 Mobile Network 6
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Customer contracts 7 ▪ 16.18m customer contracts (- 0.14m) ▪ 12.33m mobile internet (- 0.15m) Discount tariffs: The discontinuation of particularly low-cost tariffs, together with reductions in data allowances for high- performance tariffs, led to a loss of 100,000 contracts in April alone 3.85m broadband lines (+ 0.01m) 3,84 3,85 12,48 12,33 0,00 2,00 4,00 6,00 8,00 10,00 12,00 14,00 16,00 18,00 31.12.2025 30.06.2026 16,32 16,18 Mobile Internet Broadband Lines Customer contracts (in million)
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Revenue 8 ▪ €2,269.7m revenue ( + 1.6 %) ▪ €1,804.9m service revenue (- 1.1 %) ▪ €464.8m other revenue (+ 13.5 %) especially with smartphones 409,4 464,8 1.824,3 1.804,9 0 400 800 1.200 1.600 2.000 2.400 H1 25 H1 26 2.233,7 2.269,7 1,6% Service Revenue Other Revenue Revenue (in €m) * comparable figures from the previous year, including 1&1 Versatel
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+ 5.1% EBITDA (total) €382.7 m (H1 2025: €364.2m) Consumer & Small Business ▪ €391.3m EBITDA (- 5.6%) due to a change in roaming partner (no impact on EBIT) as well as higher roaming costs Enterprises & Networks ▪ - €8.6m EBITDA (+ 83.1%) as a result of the elimination of the costs associated with our customers' network migration and a higher proportion of self-generated mobile wholesale services EBITDA by segments 414,5 391,3 -50,3 -100 0 100 200 300 400 500 H1 25 -8,6 H1 26 364,2 382,7 EBITDA (in €m) 9 Segment Consumer & Small Business Segment Enterprises & Networks * comparable figures from the previous year, including 1&1 Versatel
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▪ €220.0m Capex ▪ €8.4m „Consumer & Small Business“ ▪ €211.6m „Enterprises & Networks“ Capex 10 260,9 211,6 0,00 50,00 100,00 150,00 200,00 250,00 300,00 H1 25 H1 26 266,9 220,0 6,0 8,4 Segment Consumer & Small Business Segment Enterprises & Networks Capex (in €m) * comparable figures from the previous year, including 1&1 Versatel
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Financials H1 2026
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Earnings * (in €m) H1 25 H1 26 Change Revenue 2,233.7 2,269.7 + 1.6% Cost of Sales - 1,730.0 - 1,776.4 + 2.7% Gross profits from turnover 503.7 493.3 - 2.1% thereof Consumer & Small Business 694.2 682.3 - 1.7% thereof Enterprises & Networks -190.5 -189.0 + 0.8% Distribution costs - 317.6 - 262.5 - 17.3% Administration costs - 80.3 - 82.1 + 2.2% Other operating income/expenses 25.0 25.9 + 3.6% Impairment losses on receivables and contract Assets - 61.7 - 63.3 + 2.6% Profit/loss from operating activities 69.1 111.3 + 61.1% Financial result - 58.5 - 67.3 + 15.0% Profit before taxes 10.6 44.0 Tax expenses -3.2 -13.5 Consolidated result 7.4 30.5 12* comparable figures from the previous year, including 1&1 Versatel; financial result and tax expense had been modified on a like-for-like basis
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Balance Sheet (in €m) 31 December 2025 30 June 2026 Change Short-term assets 1,899.6 1,723.7 - 9.3% of which to associated companies 377.1 250.8 - 33.5% Long-term assets 9,107.8 9,199.4 + 1.0% Short-term liabilities 1,206.8 887.0 - 26.5% of which trade accounts payable 543.9 394.1 - 27.6% of which to associated companies 204.4 21.6 - 89.4% Long-term liabilities 3,805.1 4,017.7 + 5.6% of which to associated companies 1,940.0 2,165.0 + 11.6% Equity 5,995.5 6,018.4 + 0.4% Total assets 11,007.4 10,923.1 - 0.8% Equity ratio 54.5% 55.1% + 1.1% 13
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Cashflow * 14 (in €m) H1 25 H1 26 Change Comments Net inflow of funds from operating activities 229,5 387.2 + 68.7% ▪ + €369.2m Cash flow from operating activities ▪ - €38.9m from the change in contract assets ▪ + €31.0m from the change in accrued expenses ▪ + €49,4m from the change in income tax receivables ▪ + €124.7m from the change in receivables and liabilities to related parties ▪ - €151.2m from the change in trade payables ▪ + €3.0m from the change in other WC Cash flow from investment activities - 478,9 - 412.4 - 13.9% ▪ - €220.0m Capex ▪ - €195.0m Investment of free cash with United Internet (UI) ▪ + €2.7m Interest received, mainly from cash investment at UI Cash flow from financing activities 250,2 24.3 ▪ - €8.8m Dividend payment ▪ - €71.1m Repayment of lease liabilities ▪ - €67.0m Repayment of liabilities relating to 5G spectrum ▪ + €225.0m Receipts from loans granted by related parties ▪ - €53.8m Interest payments Free cash flow(1) 111,5 167.2 (1) Definition of free cash flow: free cash flow is calculated as the net payments from operating activities in continued operations (items disclosed in the capital flow statement) less investments in intangible and tangible assets plus payments from the disposal of intangible and tangible assets. * Prior year figures as reported without 1&1 Versatel
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Bridge EBITA to FCF (in €m) 15 382,7 167,2 124,7 EBITDA 6M 2026 -38,9 contract assets receivables and liabilities to related companies 31,0 deferred expenses -151,2 trade payables other WC 26,0 taxes -220,0 Capex FCF 6M 2026 12,9 Q1 Q2 122,5 2,2 22,6 8,4 -180,6 16,7 7,0 19,0 -95,2 -124,8 56,2 111,0 192,4 190,3 29,4 -29,2 -9,7 -3,8
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Outlook 2026
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2026 ▪ Service revenue at the previous year's level (2025 like-for-like: €3.66 billion) ▪ Approx. €800 million EBITDA (2025 like-for-like: €689 million) ▪ Cash Capex €500-€550 million (2025 like-for-like: €652 million) 2027 and 2028 ▪ Approx. €100 million in annual operating EBITDA growth ▪ Cash Capex at a similar level to 2026 Forecast confirmed 17
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Our success story continues!
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This presentation contains future-oriented statements and forecasts representing the current assessments of the management at 1&1 AG. These assessments and statements are subject to changes and uncertain framework conditions that are for the most part difficult to predict and are beyond the control of 1&1 AG. 1&1 AG is not under any obligation to publish any information resulting in changes in framework conditions or to publish revised information. Contact Phone: +49 69 / 923961 218 Internet: www.1und1.AG Email: ir@1und1.de Disclaimer & Contact 1&1 AG Investor Relations Elgendorfer Str. 57 D-56410 Montabaur