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11 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 UNITED INTERNET AG Analyst and Investor Webcast – 9M Results 2025 Montabaur, November 11, 2025
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22 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 KPIs 9M 2025 WITH IONOS ADTECH -BUSINESS AS DISCONTINUED OPERATION Revenues and earnings figures (in € million ) 9M 2024 (1) 9M 2025 (1) Change Revenues (2) 4,442.2 4,502.2 + 1.4% EBITDA (2) 948.1 966.4 + 1.9% EBIT (2) 499.5 443.2 - 11.3% EPS (2) (in €) 0.72 0.75 + 4.2% 6 (1) AdTech carried in accordance with IFRS 5 as discontinued operation as of September 30, 2025; prior year adjusted (2) Revenues / EBITDA / EBIT w/o revenue contribution (€ 16.1m; prior year: € 19.9m) and earnings contributions (EBITDA € +1.9m; prior year: € -0.2m, EBIT € +1.9m; prior year: € -0.3m) from “Energy” and “De-Mail”; prior year EPS w/o Kublai / Tele Columbus impairment (EPS effect: € -0.99) ▪ 29.50 million customer contracts: + 480,000 in the first 9 months 2025 ▪ EBITDA 9M 2025 including: ▪ € - 201.2 million from 1&1 mobile network rollout expenses (prior year: € - 167.1 million) ▪ EBIT 9M 2025 impacted additionally by: ▪ € - 441.3 million from D&A on investments (prior year : € - 363.5 million ) ▪ EPS 9M 2025 increase driven by: ▪ Improved performance from associated companies and lower tax expenses
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33 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 “ACCESS” IN 9M 2025 ▪ CONSUMER APPLICATIONS ▪ BUSINESS APPLICATIONS ▪ CONSUMER ACCESS ▪ BUSINESS ACCESS
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44 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 CONSUMER ACCESS SEGMENT: CUSTOMER CONTRACTS (in million) ▪ 16.34 million customer contracts ( - 50,000) ▪ 12.48 million mobile internet contracts (+ 40,000) ▪ 3.86 million broadband connections (- 90,000) Mobile Internet Broadband connections 0 2 4 6 8 10 12 14 16 18 12.44 3.95 31.12.2024 12.48 3.86 30.09.2025 16.39 16.34 -0.05
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55 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 CONSUMER ACCESS SEGMENT: REVENUES (acc. to IFRS in € million) ▪ +/- 0.0% revenues to € 3,016.2 million ▪ +/- 0.0% service revenues to € 2,479.3 million ▪ - 0.3% other revenues (in particular low -margin smartphones ) to € 536.9 million Service revenues Other revenues 0 400 800 1,200 1,600 2,000 2,400 2,800 3,200 2,478.7 538.5 9M 2024 2,479.3 536.9 9M 2025 3,017.2 3,016.2 -1.0 (0.0%)
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66 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 CONSUMER ACCESS (I): EBITDA (acc. to IFRS in € million) ▪ - 11.5 % EBITDA to € 409.8 million including ▪ € - 201 .2 million costs for rollout of 1&1 mobile network (prior year: € - 167.1 million) ▪ 13.6% EBITDA margin (prior year: 15.3%) 0 100 200 300 400 500 9M 2024 9M 2025 463.0 409.8 -53.2 (-11.5%)
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77 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 CONSUMER ACCESS (II): EBITDA OF THE TWO SUBSEGMENTS (acc. to IFRS in € million) “Access” ▪ - 3.0% EBITDA to € 611.0 million ▪ 20.3% EBITDA margin (prior year: 20.9%) “1&1 Mobile Network ” ▪ € - 201.2 million EBITDA from the initial cost of the 1&1 mobile network rollout (prior year: € - 167.1 million) 0 150 300 450 600 750 9M 2024 9M 2025 630.1 611.0 -19.1 (-3.0%) -300 -200 -100 0 9M 2024 9M 2025 -167.1 -201.2 EBITDA “Access ” EBITDA “ 1&1 Mobile Network ”
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88 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 ▪ CONSUMER APPLICATIONS ▪ BUSINESS APPLICATIONS ▪ CONSUMER ACCESS ▪ BUSINESS ACCESS
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99 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 BUSINESS ACCESS SEGMENT : REVENUES (acc. to IFRS in € million) ▪ + 1.1% revenues to € 435.4 million 0 100 200 300 400 500 9M 2024 9M 2025 430.7 435.4 +4.7 (+1.1%)
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1010 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 BUSINESS ACCESS SEGMENT : EBITDA (acc. to IFRS in € million) ▪ + 2.1% EBITDA to € 123.1 million ▪ € - 16.3 million start -up costs (prior year: € - 22.0 million) in the new business areas “5G” and “expansion of commercial areas” ▪ 28.3% EBITDA margin (prior year : 28.0%) 0 30 60 90 120 150 9M 2024 9M 2025 120.6 123.1 +2.5 (+2.1%)
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1111 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 “APPLICATIONS” IN 9M 2025 ▪ CONSUMER APPLICATIONS ▪ BUSINESS APPLICATIONS ▪ CONSUMER ACCESS ▪ BUSINESS ACCESS
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1212 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 CONSUMER APPLICATIONS SEGMENT : ACCOUNTS (in million) ▪ 41.73 million consumer accounts ( - 240,000) due to seasonal effects, + 70,000 compared to Q3/2024 ▪ 38.47 million free accounts ( - 460,000), - 210,000 compared to Q3/2024 ▪ 3.26 million pay accounts (+ 220,000), + 280,000 compared to Q3/2024 Free accounts Pay accounts 0 10 20 30 40 50 38.93 3.04 31.12.2024(1) 38.47 3.26 30.09.2025(1) 41.97 41.73 -0.24 (1) w/o 0.02m “Energy” contracts
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1313 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 CONSUMER APPLICATIONS SEGMENT : REVENUES (acc. to IFRS in € million) ▪ + 5.6% revenues to € 229.7 million 0 50 100 150 200 250 9M 2024(1) 9M 2025(1) 217.6 229.7 +12.1 (+5.6%) (1) w/o revenues contributions “Energy” and “De-Mail” (€ 16.1m; prior year: € 19.9m)
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1414 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 ▪ + 5.1% EBITDA to € 82.9 million ▪ 36.1% EBITDA margin (prior year : 36.3%) CONSUMER APPLICATIONS SEGMENT : EBITDA (acc. to IFRS in € million) 0 10 20 30 40 50 60 70 80 90 9M 2024(1) 9M 2025(1) 78.9 82.9 +4.0 (+5.1%) (1) w/o earnings contributions “Energy” and “De-Mail” (€ +1.9m; prior year: € -0.2m)
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1515 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 ▪ CONSUMER APPLICATIONS ▪ BUSINESS APPLICATIONS ▪ CONSUMER ACCESS ▪ BUSINESS ACCESS
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1616 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 BUSINESS APPLICATIONS SEGMENT: CUSTOMER CONTRACTS (in million) ▪ 9.90 million customer contracts (+ 310,000) ▪ 5.15 million abroad (+ 190,000) ▪ 4.75 million domestic (+ 120,000) Abroad Domestic 0 2 4 6 8 10 4.96 4.63 31.12.2024 5.15 4.75 30.09.2025 9.59 9.90 +0.31
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1717 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 BUSINESS APPLICATIONS SEGMENT: REVENUES (acc. to IFRS in € million) ▪ + 6.2% revenues to € 980.2 million ▪ Customer growth ▪ Increased up - and cross -selling 0 200 400 600 800 1,000 9M 2024(1) 9M 2025(1) 923.1 980.2 +57.1 (+6.2%) (1) AdTech carried in accordance with IFRS 5 as discontinued operation as of September 30, 2025; prior year adjusted
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1818 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 BUSINESS APPLICATIONS SEGMENT: EBITDA (acc. to IFRS in € million) ▪ + 21.5% EBITDA to € 353.4 million ▪ 36.1% EBITDA margin (prior year: 31.5%) 0 60 120 180 240 300 360 9M 2024(1) 9M 2025(1) 290.9 353.4 +62.5 (+21.5%) (1) AdTech carried in accordance with IFRS 5 as discontinued operation as of September 30, 2025; prior year adjusted
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1919 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 KEY FINANCIAL KPI S 9M 2025 (financial KPIs acc. to IFRS in € million ) 9M 2024 (1) 9M 2025 (1) Change Revenues (2) 4,442.2 4,502.2 + 1.4% EBITDA (2) 948.1 966.4 + 1.9% Capex - 441.9 - 488.0 - Free cash flow (3) - 63.8 146.1 - (1) AdTech carried in accordance with IFRS 5 as discontinued operation as of September 30, 2025; prior year adjusted (2) Revenues / EBITDA w/o revenue contribution (€ 16.1m; prior year: € 19.9m) and earnings contributions (EBITDA: € +1.9m; prior year: € -0.2m) from “Energy” and “De-Mail” (3) Free cash flow is defined as cash flow from operating activities, less capital expenditures, plus payments from disposals of intangible assets and property, plant and equipment. Free cash flow including the repayment portion of lease liabilities that have been reported in cash flow from financing activities since FY 2019; the free cash flow 2024 includes phasing effects from Q4 2023 in the amount of -104.3 million 31.12.2024 (1) 30.09.2025 (1) Change Net bank liabilities 2,698.8 3,249.6 + 20.4% Equity ratio 46.5% 43.5% - 3.0 Ppt .
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2020 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 GROUP: EBITDA / FREE CASH FLOW BRIDGE AS OF SEPTEMBER 30, 2025 EBITDA 9M 2025(1) 33.0 EBITDA AdTech -485.4 Capex (net) -110.0 Phasing effects from Q4 2024 -82.9 Tax -64.1 Working Capital & others Free Cashflow 9M 2025 -113.0 Leasing Free Cashflow after Leasing 968.3 259.0 146.1 (acc. to IFRS in € million) (1) incl. “Energy” and “De -Mail”
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2121 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 OUTLOOK 2025
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2222 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 OUTLOOK 2025 (1) We are confirming our revenue and EBITDA forecast and are specifying our Cash -CAPEX forecast with accounting for AdTech as discontinued operation (2) ▪ Revenues : approx . € 6.05 billion (2024: € 5.991 billion ) ▪ EBITDA: approx . € 1.3 billion (2024: € 1.252 billion ), including approx. € - 20 million due to the change of national roaming provider at 1&1 – no impact on EBIT (3) ▪ Cash -CAPEX: approx . € 750 million (previously : approx . € 800 million , 2024: € 774.6 million ) (1) All figures are without consideration of the Energy business field due to be sold. The business field Energy has already beensold (2) AdTech carried in accordance with IFRS 5 as discontinued operation as of September 30, 2025; prior year adjusted (3) In the case of the commercially equivalent national roaming agreement with Vodafone, the capacities used by 1&1 are fully recognized in EBITDA, while in the case of national roaming with Telefónica they were partially capitalized and amortized as scheduled
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2323 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 Q&A SESSION
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2424 Analyst and Investor Call Presentation – 9M 2025 November 11, 2025 UNITED INTERNET AG Analyst and Investor Webcast – 9M Results 2025 Montabaur, November 11, 2025