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UNITED INTERNET AG Company Presentation ( H1 2026 )
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2 United Internet AG - Company Presentation H1 2026 GROUP: KEY FIGURES AS OF JUNE 30, 2026 P&L figures according to IFRS in € million H1 2025 (1) H1 2026 (1) Change Fee -based customer contracts (in million) 29.31 30.27 ▪ + 0.96 million Ad-financed free accounts (in million) 38.57 38.44 ▪ - 0.13 million ( pay accounts: + 0.36 million) Revenues (2) 2,992.7 3,090.9 ▪ + 3.3% EBITDA (2) 643.0 676.0 ▪ + 5.1% EBIT (2) 285.3 342.4 ▪ + 20.0% ( primarily due to lower PPA depreciation ) EPS (in €) (2) 0.47 0.75 ▪ + 59.6% ( primarily due to lower tax expenses ) Cash flow figures according to IFRS in € million H1 2025 H1 2026 Change Cash flow before changes in balance sheet items 578.5 596.0 ▪ + 3.0% Cash flow from operating activities 400.9 492.0 ▪ + 22.7% Cash flow from investing activities - 273.9 - 273.4 ▪ Capex: - € 283.6 million ( prior year : - € 297.0 million) Cash flow from financing activities -211.0 - 207.3 Free cash flow after leasing (Free CF AL) 25.1 129.7 ▪ + 416.7% (1) Sedo carried in accordance with IFRS 5 as discontinued operation as of September 30, 2025; H1 2025 adjusted (2) H1 2025 w/o revenue and earnings contributions from Energy (revenue contribution: €11.2 million; EBITDA and EBIT contribution: +€1.2 million; EPS contribution: +€0.01)
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3 United Internet AG - Company Presentation H1 2026 AGENDA I. Investment Case & Group Overview II. 1&1 III. IONOS IV. Mail & Media V. Additional KPIs & Outlook 2026 VII. Sustainability VI. Share & Dividend
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4 United Internet AG - Company Presentation H1 2026 I. INVESTMENT CASE & GROUP OVERVIEW
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5 United Internet AG - Company Presentation H1 2026 I. UNITED INTERNET‘S ATTRACTIVE INVESTMENT CASE 1&1 Versatel operates one of the largest German fiber optic networks (~ 70,000 km) in over 350 cities Europe’s most modern 5G mobile network , based on innovative Open RAN technology by 1&1, boosts future operating margins 1&1 is the 4th largest mobile network operator in DE with sizeable market share and a differentiated offering > 12.3m mobile customers surfing on 1&1’s mobile network; > 3.8m broadband customers IONOS is the largest web hosting provider in Europe with 100% recurring revenues based predominantly on subscriptions UI operates the largest independent B2C platform in private mail in the DACH region (via GMX and WEB.DE) ~ 42.0m accounts ( > 38.4m ad-financed , > 3.5m paid) - the market leader in DE (2); > 10.5m cloud and hosting contracts ACCESS (~ 4,600 FTE‘S) APPLICATIONS (~ 5,100 FTE‘S) (in € million) 757 835 980 1,201 1,244 1,179 1,262 1,272 1,297 1,252 1,282 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 (Drillisch) 2015 DIVERSIFIED PORTFOLIO > 68M ACCOUNTS CONVENIENT LEVERAGE SHAREHOLDER VALUE ~2.3x (H1 2026) leverage (net bank liabilities / EBITDA) – a confident base > € 1.95bn dividend payments; > € 1.4bn share buy backs since IPO M&A track record: > 18 acquisitions & investments with > € 3.5bn volume with > 30.2m customer contracts and > 38.4m free accounts (2) Email usage market share in Germany (2025), end of period # of users (most frequently used private email providers) 2017 2020 (Covid -19) 2025 Operating EBITDA (1) IONOS builds an enterprise cloud for ITZBund (Federal IT Center), proving itself a reliable infrastructure partner CAGR 2015 -2025 Rev > 5.6% & EBITDA > 4.4% (1) 2024 and 2025 adjusted for AdTech (Sedo) in accordance with IFRS 5
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6 United Internet AG - Company Presentation H1 2026 Mobile internet and fixed-line provider to private users as well as operating one of the largest German fiber optic networks, offering direct connections and tailored ICT solutions to business customers in Germany I. GROUP STRUCTURE (as of August, 2026) 86.5% 31.52% 25.39% 17.58% 4.60% 25.10% 20.00% Minority Investments (1) Held indirectly through 63.84 % stake in IONOS (2) Held indirectly through 4.71 % stake in Kublai 1&1 Largest web hosting provider in Europe and leading digitization partner for freelancers, small/medium-sized enterprises and reliable cloud enabler IONOS 63.8% Largest independent B2C platform in private mail in the DACH region for home users, including email, online storage and office software Mail & Media 100% (2) (1) 72 % of revenues and 56 % of EBITDA 22 % of revenues and 34 % of EBITDA 5% of revenues and 9% of EBITDA
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7 United Internet AG - Company Presentation H1 2026 United Internet Group Key Milestones 1988-1999 2000-2005 2007-2015 2016-2018 2019-2022 2023-2024 2025 ▪ 2000: 1&1 Internet AG renamed as United Internet AG ▪ 2004: Acquisition of InterNetX ▪ 2005: Acquisition of WEB.DE ▪ 2006: Foundation of United Internet Media (under which the portals WEB.DE, GMX, mail.com and 1&1 are marketed) ▪ 1988: 1&1 set-up as marketing partner for software companies ▪ 1998: Foundation of the GMX e-mail service ▪ 1998: Acquisition of Schlund + Partner, German webhosting leader ▪ 1998: IPO of the Group as 1&1 Internet AG (23rd March 1998) ▪ 2023: IONOS IPO on Frankfurt stock exchange ▪ 2023: Official market launch of 1&1’s own mobile network in Dec-23 ▪ 2023-24: Partnership with Vodafone to replace Telefonica as National Roaming partner from Aug-24 onwards ▪ 2019: 1&1 successfully acquires spectrum in 5G auction ▪ 2021-22: Own Mobile network progress – partnerships with Rakuten, TowerCos and Orange (international roaming) ▪ 2025: UI increases stake in 1&1 and completes migration to 1&1 network (largest in German telco history) ▪ 2025: IONOS announces sale process of Sedo (AdTech business) ▪ 2025: Intra-Group sale of Versatel from United Internet to 1&1 ▪ 2007: Acquisition of 25.05% strategic stake in Versatel ▪ 2010: Launch of the mobile internet business with the 1&1 All-Net Flat ▪ 2014: Full takeover of Versatel ▪ 2015: Acquisition of 20% stake in Drillisch ▪ 2016: Warburg Pincus partnership and stake in IONOS ▪ 2017: 1&1 and Drillisch merger ▪ 2017-18: Webhosting and cloud acquisitions: Strato, Profitbricks and world4you I. TRANSFORMATION INTO A LEADING INTERNET & TELECOM SERVICE PROVIDE R
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8 United Internet AG - Company Presentation H1 2026 II. 1&1
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9 United Internet AG - Company Presentation H1 2026 II. THE 4TH LARGEST NETWORK OPERATOR IN GERMANY Access to fiber-optic networks Complete VDSL and FTTH packages based on our fiber- optic network, with last mile provided by Deutsche Telekom and regional carriers (e.g. Deutsche Glasfaser, Glasfaser Nordwest, M-Net, NetCologne, OXG, Westconnect, wilhelm.tel) Strong brands Services are marketed under the premium 1&1 brand and discount/value brands such as winSIM and yourfone, enabling broad market coverage 4th largest German network operator 1&1 is the fourth largest telecommunications provider (population coverage >34% solely with mid- and high-band spectrum) in Germany’s consumer market and operates Europe’s first OpenRAN, fully virtualized ORAN network Europe’s most modern 5G mobile network based on innovative Open RAN technology which is 10-30% more energy efficient(1), boosting future operating margins (1) Source: Result of a study by TÜV Rheinland on the energy consumption of the 1&1 O-RAN 2024. Savings vary depending on the legacy system compared November 2025 Powerful network infrastructure 1&1 with 1&1 Versatel operates one of the largest German fiber optic networks (~ 70,000 km) in over 350 German cities with > 30,000 directly connected locations Largest FTTH footprint in Germany Approx. 80% of household connections are connected to the 1&1 transport network (2) (2) “Very Good” (over 910 points) from connect (www.connect.de/3211255) in a special evaluation 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).
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10 United Internet AG - Company Presentation H1 2026 II. 1&1: CUSTOMER CONTRACTS ▪ 16.18 million customer contracts (- 140,000) ▪ 12.33 million mobile internet contracts (- 150,000) Discount Tariffs: Due to discontinuation of particularly low - cost tariffs and reducing the data allowances included in the high -performance tariffs resulted in a net loss of 100,000 contracts in April alone ▪ 3.85 million broadband connections (+ 10,000)0 5 10 15 20 31.12.2025 30.06.2026 16.32 16.18 12.48 3.84 12.33 3.85 -0.14 (in million ) Mobile Internet Broadband connections
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11 United Internet AG - Company Presentation H1 2026 Service revenues Other revenues (mainly hardware) II. 1&1: REVENUE ▪ + 1.6% revenues to € 2.270 billion ▪ - 1.1% service revenues to € 1.805 billion ▪ + 13.5% other revenues (in particular smartphones) to € 464.8 million (acc. to IFRS in € million) 0 500 1,000 1,500 2,000 2,500 H1 2025 H1 2026 2,233.7 2,269.7 1,824.3 409.4 1,804.9 464.8 +36.0 (+1.6%)
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12 United Internet AG - Company Presentation H1 2026 II. 1&1: EBITDA (acc. to IFRS in € million) ▪ + 5.1% EBITDA to € 382.7 million ▪ 16.9% EBITDA margin (prior year : 16.3%) 0 100 200 300 400 H1 2025 H1 2026 364.2 382.7 +18.5 (+5.1%)
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13 United Internet AG - Company Presentation H1 2026 III. IONOS
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14 United Internet AG - Company Presentation H1 2026 Best-in-class churn Churn remains at best-in-class level of ~1% per month that is being managed by various churn prevention initiatives III. #1 SMB WEBHOSTING AND CLOUD SERVICES OFFERING IN EUROPE AND NORTH AMERICA Reliable infrastructure partner Broad product portfolio from digital solutions to cloud infrastructure – for instance proving itself a reliable infrastructure partner by building an enterprise cloud for ITZBund (Federal IT Center) Digital sovereignty Digital sovereignty is moving to the top of the priority list for the private and public sector, opening opportunities to foster growth through cloud and AI “Made in Europe” Artificial Intelligence AI is a catalyst for digitalization and driver of revenue on the back of additional use cases and upselling (IONOS Momentum, AI Model hub, AI powered products e.g. website builder, AI email assistant) Attractive, robust finances Subscription-based business model with strong revenue growth (earning ~100% recurring revenues(1)), attractive profitability (34.2% EBITDA margin(1)) and cash flow generation combined with predictable capex Leading European digitalization partner IONOS is the largest web hosting provider in Europe (active in 14 European countries as well as USA, Canada and Mexico) and serves as one-stop-shop for all digitalization needs of around 6.9m customers and over 10.5m contracts (1) As of 30.06.2026, adj. EBITDA is defined as EBITDA adjusted for either non-recurring items or non-operating items 2025
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15 United Internet AG - Company Presentation H1 2026 Abroad Domestic III. IONOS: CUSTOMER CONTRACTS ▪ 10.55 million customer contracts (+ 500,000) ▪ 5.57 million abroad (+ 320,000) ▪ 4.98 million domestic (+ 180,000) (in million) 0 2 4 6 8 10 12 31.12.2025 30.06.2026 10.05 10.55 5.25 4.80 5.57 4.98 +0.50
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16 United Internet AG - Company Presentation H1 2026 III. IONOS: REVENUES ▪ + 6.9% revenues to € 701.1 million (+ 8.2% FX adjusted) ▪ Ongoing customer growth ▪ Increased up - and cross -selling 0 100 200 300 400 500 600 700 800 H1 2025(1) H1 2026(1) 656.0 701.1 +45.1 (+6.9%) (acc. to IFRS in € million) (1) Sedo carried in accordance with IFRS 5 as discontinued operation as of September 30, 2025; H1 2025 adjusted
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17 United Internet AG - Company Presentation H1 2026 III. IONOS: EBITDA ▪ + 2.6% EBITDA to € 232.6 million (+ 4.2% FX adjusted) ▪ Significantly higher marketing expenses compared to H1 2025 ▪ 33.2% EBITDA margin (prior year : 34.5%) 0 100 200 300 H1 2025 (1) H1 2026 (1) 226.6 232.6 +6.0 (+2.6%) (acc. to IFRS in € million) (1) Sedo carried in accordance with IFRS 5 as discontinued operation as of September 30, 2025; H1 2025 adjusted
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18 United Internet AG - Company Presentation H1 2026 One-stop-shop for all digitalization needs of SMBs and solo entrepreneurs E-mail & Office Value Added Services Domains Web Hosting & Sitebuilder Server Hosting E-commerce Public Cloud Private Cloud Managed Services Bare Metal Cloud Trusted European cloud provider for SMBs and enterprises Web Presence & Productivity Cloud Solutions AI Model Hub Model Fine-Tuning GPU Server AI-powered Website Builder AI App & Site Builder WordPress AI Assistant AI Mail AI Email Marketing AI Online Marketing AI SEO Tooling AI Domain Search AI-powered e-commerce Reputation Management AI Phone Receptionist IONOS GPT III. IONOS SEGMENTS AND PRODUCTS n8n Image on VPS Nextcloud AI Integration Sovereign, EU-hosted infrastructure - the foundation for data-sovereign AI
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19 United Internet AG - Company Presentation H1 2026 III. IONOS: THE ONE-STOP-SHOP PORTFOLIO ENABLES AN END-TO-END DIGITISATION JOURNEY FOR OUR CUSTOMERS Protect your brand with a domain Grow your online business with smart do-it-yourself and do-it-for-me solutions to attract more customers Communicate your professional identity with company branded e-mail Business Mail For domains that have already been rewarded 1 2 4 6 8 3 5 7 Set up your website and present your business online MyWebsite Now eCommerce Website Builder “The first orders came from abroad!” Wohlfühlmomente Landau (cosmetics online shop) Enrich your presence with e-commerce capabilities and sell online Digitize your business and processes with a trusted partner that values privacy and security Leverage cloud computing, scalable infrastructure and storage solutions as your business scales “My customers can now find my business details anytime!” Anmut.Bar (cafe, bar)
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20 United Internet AG - Company Presentation H1 2026 III. IONOS: AI RECEPTIONIST & AI MOMENTUM
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21 United Internet AG - Company Presentation H1 2026 IV. MAIL & MEDIA
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22 United Internet AG - Company Presentation H1 2026 High potential for up- and cross-selling Continued conversion of free accounts to paid accounts, cross-selling of additional products (e.g. AI functionalities, cloud storage for pictures, mail domains) with targeted campaigns (e.g. the importance of back-up) Broad & Secure Product Portfolio Personal Information Management (e-mail, tasks, appointments, addresses), cloud storage and office applications for private customers differentiated by data protection & data security Data treasure Smart inbox features allows Mail & Media to better understand the customer needs and therefore perform more precise ad targeting, delivering value-added for advertisers Growth in pay accounts Subscription revenues anchored by high single digit growth in premium customer accounts with more than 3.5m contracts(2) Attractive business model Ultra capex-light business model that is profitable (~40.3% EBITDA margin(1)) and growing revenues Market leader in private mail Germany’s leading digital B2C platform (GMX, WEB.DE) monetizing a large and attractive customer base based on the number of users of e-mail services in the German market IV. GERMANY’S LEADING DIGITAL B2C PLATFORM MONETIZING A LARGE, ATTRACTIVE CUSTOMER BASE (1) As of 30.06.2026 (2) As of 30.06.2026
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23 United Internet AG - Company Presentation H1 2026 IV. MAIL & MEDIA: ACCOUNTS ▪ 41.98 million accounts ( - 50,000) ▪ 38.44 million free accounts ( - 240,000), due to seasonal factors and as a result of the high conversion rate to pay accounts ▪ 3.54 million pay accounts (+ 190,000) (in million) 0 10 20 30 40 50 3.35(1) 31.12.2025 30.06.2026 42.03 41.98 38.68 38.44 3.54 -0.05 Free accounts Pay accounts (1) w/o Energy accounts
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24 United Internet AG - Company Presentation H1 2026 IV. MAIL & MEDIA : REVENUE ▪ + 8.4% revenues to € 161.4 million ▪ Increased monetization of free accounts through online advertising ▪ Strong growth in pay accounts (acc. to IFRS in € million) 0 20 40 60 80 100 120 140 160 180 H1 2025 (1) H1 2026 148.9 161.4 +12.5 (+8.4%) (1) w/o revenues contributions of € 11.2 million from Energy
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25 United Internet AG - Company Presentation H1 2026 IV. MAIL & MEDIA: EBITDA ▪ + 16.7% EBITDA to € 62.9 million ▪ 39.0% EBITDA margin (prior year : 36.2%) 53.9 62.9 0 20 40 60 80 H1 2025(1) H1 2026 +9.0 (+16.7% ) (acc. to IFRS in € million) (1) w/o earnings contributions of € +1.2 million from Energy
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26 United Internet AG - Company Presentation H1 2026 V. FREE CASH FLOW & OUTLOOK 2026
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27 United Internet AG - Company Presentation H1 2026 GROUP: EBITDA / FREE CASH FLOW BRIDGE AS OF JUNE 30, 2026 (acc. to IFRS in € million) 676.1 213.2 129.7 EBITDA H1 2026(1) -6.1 EBITDA AdTech (2) -278.8 Capex (net) -17.4 Tax -160.6 Working Capital & Others Free CF H1 2026 -83.5 Leasing Free CF AL H1 2026 H1 2026 H1 2025 644.2 105.8 25.1 EBITDA H1 2025(1) 32.6 EBITDA AdTech (2) -295.1 Capex (net) -51.2 Tax -224.7 Working Capital & Others Free CF H1 2025 -80.7 Leasing Free CF AL H1 2025 (1) Reported; H1 2025 incl. Energy (2) Discontinued operation
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28 United Internet AG - Company Presentation H1 2026 OUTLOOK 2026 Guidance confirmed for FY 2026 ▪ Revenue: approx . € 6.25 billion (2025: € 6.104 billion ) ▪ EBITDA: approx . € 1.45 billion (2025: € 1.282 billion ) ▪ Cash -CAPEX: € 600 – 650 million (2025: € 730.8 million)
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29 United Internet AG - Company Presentation H1 2026 VI. SHARE & DIVIDEND
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30 United Internet AG - Company Presentation H1 2026 0 € 10 € 20 € 30 € 40 € 50 € 60 € Shareholder Structure :Shareholder Structure (taking into account non -voting treasury shares in the share capital ): VI. SHARE PRICE DEVELOPMENT AND SHAREHOLDER STRUCTURE € 23.64 (31.07.2026) € 2.77 (23.03.1998) 2020: COVID-19 2002: Dotcom bubble bursts 2008: Financial crisis 2022/23: Quantitative tightening € 59.80 (ATH: 09.01.2018) Key Share Facts & Figures : ▪ ISIN: DE0005089031 ▪ WKN: 508903 ▪ Stock Exchange: Xetra ▪ Index: MDAX, TecDAX ▪ Shares: 192,000,000 ▪ IPO Date: 23.03.1998 ▪ Issuance Price: € 1.02 54.36% 5.50% 5.48% 3.95% 30.70% Ralph Dommermuth Wellington Bank of America Helikon 48.94% 9.98% 4.95% 4.93% 3.55% 27.64% Ralph Dommermuth Wellington Bank of America Helikon United Internet Freefloat (1) Based on the most recent notification of voting rights in accordance with Sections 33 ff. of the German Securities Trading Act. Accordingly, only voting rights notifications that have reached at least the first notification threshold of 3% are taken into account (2) Freefloat acc. to DAX Equity Index Methodology: 41.08% Freefloat (1),(2)
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31 United Internet AG - Company Presentation H1 2026 VI. SHAREHOLDER RETURN 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 Dividend payments (cumulative in € million) 0 200 400 600 800 1000 1200 1400 1600 Share buy backs (cumulative in € million) 150 170 190 210 230 250 270 Share capital (in € million) ▪ Dividend payment for fiscal year 2025: € 0.50 per share ▪ Total dividend payments of € 1.95 billion ▪ Total of more than € 1.4 billion for share buy backs (until March 2023) ▪ Last capital reduction in February 2023: Redemption of 2 million shares to share capital of 192 million
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32 United Internet AG - Company Presentation H1 2026 VII. SUSTAINABILITY
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33 United Internet AG - Company Presentation H1 2026 VII. ESG AT A GLANCE @UNITED INTERNET (1) Source: Result of a study by TÜV Rheinland on the energy consumption of the 1&1 O-RAN 2024. Savings vary depending on the legacy system compared. (2) United Internet’s net revenue as of December 31, 2025, was used as the basis of calculation when determining the GHG intensity per net revenue (tCO2e/€ million). For further information please refer to the published sustainability report under https://www.united-internet.de/investor-relations.html. (3) Services and data provided by AfB gGmbH 10-30% higher energy efficiency of the Open RAN network compared to legacy networks(1) Member since United Internet’s signing in 2021 > €75m raised to support children in need through the UNICEF foundation since 2006 99.9% spam emails blocked successfully through improved scanning and data privacy filters 21% decrease in GHG intensity (Scope 1 and 2) in 2025(2) Group-wide implementation of 2045 net-zero goal 1,497 t CO2 emissions saved through refurbishment and recycling of old company IT-equipment(3) WEB.DE and GMX are members of the German Sustainability Media Pact Climate Circular economy Social commitment Cybersecurity 1,036 t raw materials saved through refurbishment and recycling of old company IT-equipment3
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34 United Internet AG - Company Presentation H1 2026 VII. ESG RATINGS 2025 Our Focus: Environmental & Social Performance 85% share of renewable energy across the Group Health, safety, and inclusion programs Implementation of group climate strategy Expansion of diversity & accessibility initiatives 25% women in leadership positions by 2030 Net-Zero goal in 2045 Our Focus: Maintaining leadership in Governance Independent supervisory board Compliance monitoring and whistleblower lines Extensive information security management Rollout of AI governance framework & trainings Introduction of anti-discrimination officers All employees to receive annual data protection training Our Focus: Reducing exposure to ESG risks Supply chain due diligence system Refurbishment and recycling initiatives with AfB Increasing use of renewable energies Addition of ESG-trainings for staff and suppliers 96%+ of suppliers covered by risk analysis by 2030 100% of procurement staff with sustainable sourcing training by 2027 0 1 2 TRANSPARENCY VERY HIGH PRIME THRESHOLD C C+ Negligible Low Medium High Severe 0-10 10-20 20-30 30-40 40+ 27.0 Medium Risk
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35 United Internet AG - Company Presentation H1 2026 VOTING RIGHTS* ▪ United Internet AG ▪ Elgendorfer Straße 57 ▪ D-56410 Montabaur ▪ Mail: voting -rights@united -internet.de INVESTOR RELATIONS CONTACT & DISCLAIMER DOMINIC GROSSMANN Head of Investor Relations Phone: +49 2602 / 96 -1671 Mail: dgrossmann@united -internet.de investor -relations@united -internet.de Web: united -internet.de/ en/investor -relations General: * Please use the provided email address for shareholder disclosure notifications and, in addition to the legible report, also send us the XML version. Disclaimer: This presentation contains future -oriented statements and forecasts representing the current assessments of the management at Un ited Internet. ▪ These assessments and statements are subject to changes and uncertain framework conditions that are for the most part difficu lt to predict and are beyond the control of United Internet. ▪ United Internet is not under any obligation to publish any information resulting in changes in framework conditions or to pub lis h revised information.
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36 United Internet AG - Company Presentation H1 2026 UNITED INTERNET AG Our success story continues !