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Disclaimer This presentation is provided to persons who are entitled to receive it in accordance with the laws and regulationsof appropriatejurisdictions. This presentationis providedfor informationpurposes only and does not constitutean offeror an invitationto buy or sell or subscribeto any securitiesor a solicitationof an offerto buy or sell or subscribefor any securityor instrumentor to participatein any tradingstrategy. No part of this presentation may be construed as constituting investment advice or recommendationto enter into any transactionor as providingthe basis for any credit or other evaluation. No representationor warrantyis given with respect to the accuracyor completenessof the information,estimations,provisions,future expectations or other data, containedin this presentation,and no claim can be made that any transactionof any security will conform to any terms that may be containedherein. Under no circumstance,should OTE, or any of its directors,officersor employeesbe held liable for any direct,indirector consequentialloss or damagesuffered by any person as a result of relying on any informationcontainedin this presentation. Informationcontained hereinmay changewithoutnoticeand OTEundertakesno obligationto updateit. Beforeenteringinto any transaction,investorsshould determineany economic,tradingand financialrisks, restrictionsand benefits,as well as any legal,tax, accountingconsequencesof doing so, and their abilityto assume such risks, withoutrelianceon the informationcontainedin this presentation. Youshouldconsulta professionalfinancialadvisorbeforeenteringin any transactionsin securitiesmentionedherein. In additionto figures preparedin accordancewith IFRS, OTE also presentsalternativeperformancemeasures, including,among others, EBITDA, adjusted EBITDA, adjusted EBITDA (AL) , free cash flow, adjusted free cash flow, net debt, Capex and adjusted Capex. These alternativeperformance measures should be consideredin addition to, but not as a substitute for, the information prepared in accordance with IFRS. Alternative performancemeasures are not subject to IFRS or any other generally accepted accounting principles. The purpose and calculations of all ‘Adjusted’ data and the Alternative Performance Measures presented are detailedin the AlternativePerformanceMeasuresSectionin the QuarterlyPressReleases. https://www.cosmote.gr/static/otegroup/en/page/oikonomikes_katastaseis_omilou_ote_kai_ae 2 Following TELEKOM ROMANIA MOBILE COMMUNICATIONS(TKRM) disposal, all figures (apart from Balance Sheetof 2024) adjustedto reflectonlycontinuingoperations; TKRMhas beentreatedas discontinuedoperations in 2025(untilthe disposaldate)and 2024.
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OTE 2030 Vision Become Europe’s leading Digital Telco elevating Greece to the forefront of digitalization in Europe, connecting customers to enjoy better lives & empowering businesses to grow, leveraging data/AI and Telekom group global scale, while fostering an inspiring workplace where our people thrive. 3
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Our Flywheel strategy empowers us to realize Vision 2030 Love brand Best employer Load reduction & digital deflection Transform to grow 3 Service Revenues/Margin EBITDA Cash Contribution 4 Unlock the Pay TV Accelerate businesses digitalization Grow beyond core CX @NPS- 40 2 Scale up Data / AI 5 Leverage T global scale6 Gigabit for All 5G for All 1 1 23 4 5 6 4
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Our Strategic Priorities Gigabit for All: Lead in Gigabit broadband experience (coverage and penetration) shifting our BB base to best in-home / office connectivity over FTTH / FWA. 5G for All: Accelerate 3.x GHz 5G rollout and drive mobile data monetisation based on extended 5G devices penetration & 5G SA innovative services. Unlock the Pay TV: Unlock the legal Pay TV market potential from <35% penetration aiming at increasing at European levels. Accelerate businesses digitalization: Grow B2B value based on innovative connectivity / cloud / security / digital services / vertical solutions & further exploitation of SyS capabilities, to expand the public sector & accelerate the private sector digitalization. Grow beyond core: Scale and expand the portfolio of beyond-core digital services to increase customer loyalty and create new pockets of growth. CX @ NPS-40: Step change in CX, moving from the best position in the Greek market, to the top positions within the European market. Load reduction & digital deflection: Radically reduce physical non-sales volumes, shift Sales & Care to digital and improve Customer Effort Score (CES). Transform to grow: Accelerate the transformation of our operating / production model via operational optimisation, simplification, NT/IT transformation & automation and legacy retirement. Scale up Data / AI: Scale up Data / AI initiatives, based on the established governance model including AI@T, integrating AI along the value chain i.e. Sales & Service, NT/IT, G&A, aiming to build a data-informed & digital-first company. Leverage T global scale: Leverage global scale, based on common products & platforms and combined operations (e.g. COME, CoE). Love brand: Capitalise on the power of the Telekom Brand to further differentiate in the Greek market moving from a Greek only brand to a top 10 global brand with Greek relevance. Best employer: Refresh & develop our management teams, build a leaner & more diverse organization, offer skills and performance based competitive remuneration, leverage career opportunities within Telekom (Greece & abroad), build an open-feedback & empowerment driven culture reducing hierarchical barriers & creating an inspiring workplace. 5
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Key Developments UFBB project • OTE acquired 100% of TERNA FIBER (renamed to UltrafastOTE 2) • Rural & semi rural areas coverage: Accelerates Greece’s transition to next- generation fiber infrastructure • ~860,000 fiber lines to be deployed By 2030: • FTTH expansion to ~3.5 million homes/businesses • ~70% of country’s lines FTTH • New regulatory framework for stop-selling FTTC in FTTH-connected buildings • Recently launched COSMOTE Fiber To The Room (FTTR), enhancing in-home connectivity and customer experience. • FTTH wholesale agreements to drive fiber adoption • Record retail and wholesale additions in 2025 • FTTH homes passed at 2.1 million on target COSMOTE TV • OTE – NOVA TV Agreement: Cross-supply of sports channels • Removal of 10% TV Tax (Jan 2026) • Aadoption of anti-piracy law • Drive the growth of the total Pay-TV market Fixed Wireless Access - FWA • The only operator in Greece with 5G stand-alone services • FWA over 5G+ network slicing • Speed of 200 Mbps • Bridge technology-to cover under- served areas • FWA customer base gaining traction COSMOTE TELEKOM • New Commercial Identity: COSMOTE joining forces with TELEKOM • Magenta Moments • Magenta AI Completion of Telekom Romania Mobile Disposal • Enhanced annual cash flow, increased shareholder returns and improved performance outlook • €40m extraordinary dividend (€0.10/share) paid on Dec 30, 2025 New Shareholder Remuneration Policy • Based on Actual FCF performance • ~100% Free Cash Flow payout in 2026 • 22% dividend increase €0.8777/share, €355mn • 16% buyback increase, €177mn 6
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OTE FTTH Rollout and 5G+ 7 Greece rising by 18 positions in 2025, in Fixed Broadband speeds
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Mobile Network Superiority in Greece OOKLA: COSMOTE Telekom Fastest Mobile Network for 9th consecutive year Umlaut Best in Test certification, for 11th consecutive year, for its mobile internet and voice services in Greece 70.38 62.96 MEDIAN DOWNLOAD SPEED (MBPS) COSMOTE TELEKOM OPERATOR 2 OPERATOR 3 MEDIAN UPLOAD SPEED (MBPS) COSMOTE OPERATOR 2 OPERATOR 3 TEST COUNT COSMOTE OPERATOR 2 OPERATOR 3 60.01 The only commercially available in Greece *OOKLA and OMDIA Global Evaluation 8 GREECE 1st in Europe and 4th globally
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Note: FollowingTELEKOMROMANIAMOBILECOMMUNICATIONS(TKRM)disposal,allfigures(apartfromBalanceSheetof2024) adjustedto reflectonlycontinuingoperations;TKRMhasbeenclassifiedasheldforsaleandhasbeentreatedasdiscontinuedoperationsin2025and2024.
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Overview OTE Group is the largest telecommunications provider in the Greek market. OTE is among the largest listed companies in the Athens Stock Exchange. Q4 2025 €916.3m REVENUES €174.5m ADJ. CAPEX (YOY +10.2%) €351.1m ADJ. EBITDA (AL) €168.3m FCF (YOY +15.7%) DT, 54.62% Hellenic State, 1.20% E-EFKA* 6.71% Freefloat, 35.60% Own Shares, 1.87% *The stake of e-E.F.K.A includes 19,606,015 shares transferred by Hellenic Republic in 2009 +8.7% +2.3% 12M 2025 €3,464.3m REVENUES €611.6m ADJ. CAPEX (YOY +8.7%) €1,373.5m ADJ. EBITDA (AL) €542.8m FCF (YOY +3.9 %) +3.9% +2.0% SHAREHOLDERS 31.12.2025 Operational Highlights FIXED RETAIL SERVICE REVENUES +5.2% MOBILE SERVICE REVENUES +11.1% TV REVENUES +57.5% +1.1% +3.1% +14.6% +33.4% SYSTEM SOLUTION REVENUES +58k RECORD FTTH SUBSCRIBERS' ADDITIONS +7.2% POST PAID SUBSCRIBERS +60k RECORD POST PAID ADDITIONS 567k FTTH SUBSCRIBER BASE +33.6% UTILIZATION Q4 +2.6% FY’25 Underlying FCF: ~ 570-580m Guidance CAPEX: ~600m ADJ. EBITDA (AL): ~ +3% 10
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Shareholder Remuneration Policy 70% -100% payout Actual FCF distribution through a combination of dividends and share buybacks - the cash dividend will account for at least 50% of total shareholder remuneration and the remaining part will be allocated to share buybacks. Total Payout (€m) 85% 0.71 0.7216 2024 2025 ~100% 0.877 2026 Proposed 0.577 2023 2024 2025 2026 Proposed 2023 Note: 2025 amounts exclude €40m extraordinary dividend (€0.10/share) 427 450 451 532 250 177 297 153 298 153 355 177 €532m Shareholders payout for 2026 Dividend +22% Share buy back +16% FCF Payout % ~95%* 98% Dividend SBB Dividend per Share (€) 2024 2025 2026 Proposed 2023 * Excluding the TKRM tax audit payment 11 New ShareholderRemunerationPolicy
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Debt and Liquidity Profile Debt Maturity Profile (€m) (Nominal amounts) S&P rating on OTE: “BBB+” with stable outlook S&P credit rating on Greece “BBB” with stable outlook Gross Debt Cash Net Debt/EBITDA Net Debt at €553m Net Debt/Adj.EBITDA (AL) at 0.4x 500 200 2026 2028 1502030 Bonds Loans Bonds €500m 2026 Bond (Sep) 0.875% €200m 2028 Bond (May) 0.627% Loans €150m EBRD LOAN (2030 Jul) 1.561% Q4'24 0.5x 1,110 (467) 643 Q1'25 0.4x 1,111 (550) 562 Q2'25 0.3x 1,107 (658) 449 0.5x Q3'25 Net Debt 1,124 (426) 698 0.4x Q4'25 1,074 (521) 553 12
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Financial Overview 1,346 FY 2024 FY 2025 40.4% 39.6% 1,374 Margin % yoy change %Adj. EBITDA (AL) 3,334 3,464 - 15. 0% - 5. 0% - 10. 0% 0. 0% 5. 0% 10. 0% 15. 0% 20. 0% 25. 0% 30. 0% 340 840 1, 340 1, 840 2, 340 2, 840 3, 340 FY 2024 FY 2025 Total Revenues (€m) Adj. EBITDA (AL) (€m) Reported FCF (€m) Adjusted Capex (€m) 612 563 17.7% 16.9% FY 2024 FY 2025 as % of sales yoy change % ~600 FY 2026 FY 2026 40.7% 40.2% 39.0% 41.2% 38.3% 175 19.0% Q4'25 916 8.7% Q4'25 351 2.3% Q4'25 168 874 5.0% Q3'25 843 -1.4% Q4'24 819 0.8% Q1'25 855 1.1% Q2'25 150 17.1% Q3'25 158 18.8% Q4'24 117 14.3% Q1'25 170 19.9% Q2'25 360 2.0% Q3'25 343 1.8% Q4'24 329 1.8% Q1'25 333 2.0% Q2'25 108 161 Q2'25 Q3'25 Q4'25 Reported FCF 106 Q1'25 145 Q4'24 *Adjusting for tax related one-offs FY2026 ~570-580* 523 FY 2024 543 FY2025 13
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Financial Overview Mobile Service Revenues (€m) Retail Fixed Revenues (€m) 911 921 FY 2024 FY 2025 yoy change % 1,037 1,069 FY 2024 FY 2025 Retail fixed service revenues up by +2.6% MobileServiceRevenuesaccelerated up +5.2% Q4'25 233 2.6% 265 5.2% Q4'25 yoy change % Q3'25 231 1.3% Q1'25 229 -0.2% Q4'24 227 -1.4% Q2'25 229 0.6% 292 2.7% Q3'25 252 1.4% Q4'24 246 1.2% Q1'25 266 3.2% Q2'25 14 • Double digit growth in TV, driven by sports content agreement • Record FTTH subscribers' additions +58k • Further Expansion of FTTH Network • FWA uptake accelerated further, 55k subscribers • Record postpaid customer additions +60k • Ongoing migrations from prepaid to postpaid • Customers increasingly transitioning to higher-value services • Prepaid still represents a high base of 57% • Prepaid portfolio optimized across physical channels
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Fixed & Broadband KPIs FMC B2C* Penetration (000) OTE FWA Subs* Q4’24 70% 70% Q1’25 Q2’25 71% 72% Q3’25 72% Q4’25 OTE Fixed Lines Evolution (000) Additions OTE Broadband lines - incl. FWA (000) Additions *B2C Broadband lines Q4'25 2,361 2 Q4'25 2,580 -4 Q4'25 55 22 Q3'25 2,564 -5 Q4'24 2,581 -6 Q1'25 2,571 -9 Q2'25 2,570 -2 Q3'25 2,359 2 Q4'24 2,352 Q2'25 2,357 6 3 Q1'25 2,351 -1 *Launch in Q1’25 Q3'25Q4'24 Q2'25Q1'25 33 0 14 3 -1 11 19 15
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FTTH FTTH Retail Subscribers (000) FTTH Homes passed (000) Utilization on homes passed by OTE’s infrastructure (%) Additions 34% Q4'25 Total market FTTH subscribers on OTE’s infrastructure Total OTE FTTH subscribers at 567k 83% of OTE retail subscribers 47% of competition retail subscribers • FTTH penetration on total BB: 24% • FTTH penetration among OTE customers with access to OTE’s FTTH infrastructure: 49% Q4'25 2,113 151 Q4’25 Additions 567 Q3'25 87 Q4'24 1,717 205 Q1'25 1,774 56 Q2'25 1,962 1,875 101 Q3’25 509 38 Q4'24 394 39 Q1’25 430 36 Q2’25 470 40 58 Q4'24 26% Q1'25 29% Q2'25 31% 33% Q3'25 16 Record FTTH additions
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COSMOTE TV TV Market Pay TV Penetration Q4‘25 TV Subscribers (000) TV net additions c.34% • Sports content sharing agreement with NOVA • Positive additions of 19k in Q4’25, higher than last year • Antipiracy legislation in place • Removal of 10% TV Tax (Jan 1, 2026) Q4’25: +7.1% yoy • UEFA Champions League, Europa League and Conference League TV rights for 2024-2027 • Broadcasting rights of Key Greek football teams • 8/14 Greek Superleague football teams • Italian Lega Serie A rights • Partnership with NETFLIX 777 19 Q4'25 758 23 Q3'25 726 15 Q4'24 733 8 Q1'25 735 2 Q2'25 17
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*Handsets Internet Data Usage/GB of use per HI subscriber Mobile KPIs Avg.Data usage* (GB) Total Subscribers (000) +30% in Data Traffic of Handset Internet 19.3 15.3 Q4'24 15.8 Q1'25 17.5 Q2'25 20.5 Q3'25 Q4'25 +26% 57% 43% Prepaid Postpaid Average data usage up +26% at 19.3GB per subscriber Postpaid Prepaid 4,042 7,105 Q4'25 3,063 Postpaid yoy change % 7.2% Q4'25 4,286 7,143 Q4'24 2,857 4,238 7,137 Q1'25 2,900 4,209 7,155 Q2'25 2,946 4,157 7,160 Q3'25 3,003 Q4'24 6.5% Q1'25 6.1% Q2'25 5.8% 6.4% Q3'25 18
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*Penetration as % of Smartphone users Digitalization Payzy Users (000) Q4'25 83% Q1'25 Smartphone penetration (%) 82% 82% Q2'25 83% Q4'24 Q3'25 83% +1pp “Payzy”, e-payment and transaction solutions via mobile 456 Q4'25 “BOX”, food delivery platform Registered Users ~1.0m Customer Base 126k New Contracts 7.6k 5.3k new business Renewals 80.3% Youth Segment 60% App Rating 4.6 Stores ~16.0k 441 Q3'25 418 Q4'24 425 Q1'25 432 Q2'25 19
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2025 Sustainability Commitments - Performance 2025 PERFORMANCE • 100% Renewable Electricity: 425.2 GWh • Scope 1&2: Greenhouse gas neutrality; through emissions’ reduction & neutralization of remaining emissions with carbon removal projects (18 kt CO2) • Total emissions scope 1-3: 463.7 kt CO2 Zero ICT waste to landfill:100% of ICT waste sustainablymanaged(2,296 t) Take back schemes: • 264,610 pcs of fixed devices1 collected for refurbishment • 70,282 pcs of mobile devices2 collected for recycling/refurbishment Sustainable packaging: • 100% of own brandeddevices • 97% of sold 3rd party smartphones CIRCULAR ECONOMY Almost completely circular in technology and devices by 2030 Sustainable Packaging • Own branded newly launched devices (CPEs) • 3rd Party smartphones sold by the company by 2025 CLIMATE NEUTRALITY OTE Group contributes to DT Group Climate Targets: • 100% Renewable electricity, from 2021 onwards • Greenhouse gas neutrality in own operations (Scope 1&2) from 2025 onwards, including up to 95% reduction compared to 2017 (neutralization of remaining emissions through high quality carbon removal projects) • 55% reduction of emissions across the value chain (scopes 1-3 emissions) by 2030, with respect to 2020 levels • Net Zero emissions across the entire value chain by 2040 INCLUSION & EQUAL OPPORTUNITIES IN THE WORKPLACE • 30% women at top and middle management positions3 by 2027 DIGITAL SOCIETY • 3 mil. cumulative beneficiaries from digital society initiatives by 2027, from 2025 27% womenat top and middle management positions • 1.1 mil. beneficiaries from digital society initiatives 21 1. Routers, repeaters & mesh devices, media receivers/ TV decoders and TV sticks, fixed line phones & smart home base stations 2. Smartphones & Feature phones, Tablets, Wearables, Chargers, Powerbanks, Accessories, Mobile Routers 3. MG1-MG4
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1. At least 90% reduction of Scope 1, 2 & 3 emissions. The remaining up to 10% of emissions are to be removed from the atmosphere in the long-term using high quality carbon removal measures. 2. MG1-MG4 Sustainability Strategic Priorities: Commitments 2026 onwards 22 CLIMATE NEUTRALITY OTE Group contributes to DT Group Climate Targets: • 100% Renewable electricity, from 2021 onwards • Greenhouse gas neutrality in own operations (Scope 1&2) from 2025 onwards, including up to 95% reduction compared to 2017 (neutralization of remaining emissions through high quality carbon removal projects) • 55% reduction of emissions across the value chain (scopes 1, scope 2 and scope 3 emissions) by 2030, with respect to 2020 levels • Net Zero emissions across the value chain by 20401 CIRCULAR ECONOMY Almost completely circular in technology and devices by 2030 INCLUSION & EQUAL OPPORTUNITIES IN THE WORKPLACE 30% women at top and middle management positions2 by 2027 DIGITAL SOCIETY 3 mil. cumulative beneficiaries from digital society initiatives by 2027, from 2025