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Magyar T elekomGroup Q3 2026 Results Presentation November 4, 2026
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Disclaimer This investor presentation contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore should not have undue reliance placed upon them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors are described in, among other things, our Annual Reports for the year ended December 31, 2025 available on our website at http:/ /www.telekom.hu. In addition to figures prepared in accordance with IFRS, Magyar Telekom also presents non-GAAP financial performance measures, including, among others, EBITDA, EBITDA AL, EBITDA margin, and net debt. These non-GAAP measures should be considered in addition to, but not as a substitute for, the information prepared in accordance with IFRS. Non-GAAP financial performance measures are not subject to IFRS or any other generally accepted accounting principles. Other companies may define these terms in different ways. For further information relevant to the interpretation of these terms, please refer to the chapter “Financial and operational data s e t ”,which is posted on Magyar Telekom’s Investor Relations webpage at www.telekom.hu/investor_relations. 2
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Continued strategic progress supports delivery of 2026 guidance 3 4.3 million gigabit-capable access points in Hungary 5G standalone network testing underway Continued investment strengthens network quality Enhanced propositions support customer and revenue growth Continued focus on financial and operational resilience Independent network tests reaffirm technology leadership Updated portfolio drives higher customer transaction volumes Targeted promotions enhance the customer experience Innovative, new prepaid offering launched Inflation-based fee adjustment further supports ARPU growth Operational transformation underway to reinforce future readiness
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Mobile revenue growth supported by customer gains, rising data usage and upselling •Improved quarterly net additions across all customer segments Mobile SIM quarterly net adds Mobile ARPU •ARPU growth supported by rising data usage and fee adjustments ‘000 61.0% 58.5% +3.3% 5 017 8 080 1 607 284 5 299 8 589 1 719 251 Blended Postpaid Prepaid M2M +5.6% +6.3% +7.0% -11.6% Q3 2025 Q3 2026 HUF 4 5 -13 Q3 2025 23 -4 Q4 2025 13 -29 Q1 2026 22 -9 Q2 2026 Q3 2026 -3 23 -8 Q3 2025 -13 Q4 2025 -19 Q1 2026 -7 Q2 2026 Q3 2026 -4 29 Q3 2025 36 Q4 2025 8 Q1 2026 12 Q2 2026 Q3 2026 35 M2MPostpaid Prepaid Losses of public sector SIMs
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‘000 16 Q3 2025 16 Q4 2025 13 Q1 2026 12 Q2 2026 Q3 2026 17 8 Q3 2025 11 Q4 2025 8 Q1 2026 8 Q2 2026 Q3 2026 10 -16 Q3 2025 -15 Q4 2025 -15 Q1 2026 -20 Q2 2026 Q3 2026 -16 Fixed voiceBroadband TV Continued fiber uptake drives fixed performance Fixed service quarterly customer net adds Fixed voice, BB and TV ARPU Fixed BB Pay TV Fixed voice 5,631 5,866 4,342 4,453 2,063 2,030 +4.2% +2.6% -1.6% Q3 2025 Q3 2026 HUF •Broadband customer base growth driven by continued fiber uptake •Voice churn increased following portfolio refresh •Broadband ARPU supported by customer migration to higher bandwidth packages •TV ARPU growth supported by portfolio repricing 5
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Broad-based revenue growth •Service revenue growth supported equally by continued customer base expansion and ARPU increases •Equipment sales revenue growth driven by higher transaction volumes and selling prices •IT revenue boosted by major asset delivery project 970 975 980 985 990 995 Revenue, Q3 2025 vs Q3 2026 0 250 245 260 265 255 261.0 HUF bn Q3 2025 Mobile service Equipment from customer sales Equipment from third-party export sales SI/IT Other Q3 2026 242.9 Fixed service 6.2 2.6 4.4 0.2 5.0 -0.2 +7.4% 6
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EBITDA AL supported by gross profit expansion EBITDA AL, Q3 2026 vs Q3 2025 •Gross profit growth driven by favorable service revenue trends •Employee-related expenses increased following wage rises •Cost control measures largely offset the impact of higher subcontractor prices on other operating expenses 0 105 110 100 Q3 2026IFRS 16 impact 0.0 Operating income 100.6 107.2 -0.1 Other opex -0.7 Employee related expenses -1.7 Gross profit 9.2 Q3 2025 HUF bn 6.6% 7
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Strong operating performance drives adjusted net income growth Net income (and adjusted net income), Q3 2026 vs Q3 2025 *Adjustments are unaudited 0,1 6,6 0,2 1,9 56 58 60 62 0 Q3 2025 Adj. net income A d j .* Q3 2025 EBITDA 0.0-1.6 D&A Income tax 55.2 55.3 59.5 61.4 Net financial result Non-contr. Interests Q3 2026 Q3 2026 Adj. net income A d j .* -1.1 HUF bn 11.3% •Higher depreciation and amortization year-on-year reflects shortened useful lives for certain network assets •Increase in net financial costs driven primarily by unrealized FX losses following forint weakening during Q3 2026 •Adjusted net income excludes unrealized FX losses 8
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Profit growth offset by higher investment needs and absence of disposal proceeds •Increased working capital requirements driven by YoY higher instalment sales and vendor payments •Higher capex payments reflect increased investment activity •Higher cash outflow from other investing activities due to : - Acquisition of a fiber network in Q1 2026 - Absence of subsidiary sale proceeds - Lower proceeds from real estate sales Free cash flow (excluding spectrum licenses) 9M 2026 vs 9M 2025 9,7 160 200 0 HUF bn 9M 2025 EBITDA -12.5 Working capital -15.6 Other changes 9M 2026 -5.1 Other CF from investment activities -10.1 Capex payments 179.8 146.3 -18.7% •Higher investment in fixed and mobile networks in Hungary •Absence of one-off asset retirement obligation recognized in Q3 2025 •Present value of liabilities relating to the 2100 MHz license renewal recognized in Q1 2026 Capex AL, 9M 2026 vs 9M 2025 90 0 80 100 110 HUF bn -3.9 Other 9M 2026 excl. Spectrum 15.1 Spectrum capex 9M 2026 -1.9 Network 11.4 North Macedonia 9M 2025 82.5 88.0 103.1 6.7% 9
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2026 guidance confirmed 2025 results HUF 983.9 bnRevenue EBITDA AL Adjusted Net Income FCF1 2026 guidance HUF 386.8 bn HUF 207.4 bn HUF 220.9 bn 9M 2026 results (change y-o-y) low-single-digit growth HUF 175.1 bn (+5.7%) HUF 146.3 bn (-18.7%) HUF 309.5 bn (+3.3%) HUF 742.4 bn (+2.3%) 1 excluding spectrum licenses HUF at least 200 bn mid-single-digit growth ca 10% growth 10
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Appendix
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Mobile KPIs ‘000 Minutes/monthGB/month 220 220 220 218 210 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 15,1 16,0 15,9 17,1 18,6 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 ‘000 ‘000 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 3,771 3,790 3,773 3,787 3,808 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 1,245 1,231 1,212 1,206 1,201 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 1,553 1,589 1,598 1,610 1,645 Postpaid customers Prepaid customers M2M Average mobile data usage Mobile voice usage 12
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Fixed KPIs ‘000 ‘000 ‘000 Minutes/month 73 74 73 67 63 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q3 2025 Q4 2025 Q1 2026 Q2 2026 1,134 1,119 1,104 1,084 Q3 2026 1,068 Q3 2025 Q4 2025 Q1 2026 Q2 2026 1,649 1,665 1,678 1,690 Q3 2026 1,707 Q3 2025 Q4 2025 Q1 2026 Q2 2026 1,390 1,401 1,409 1,417 Q3 2026 1,427 Fixed voice customers Fixed broadband customers Pay TV customers Fixed voice usage 13
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North Macedonia performance highlights Revenues, Q3 2026 vs Q3 2025 EBITDA AL, Q3 2026 vs Q3 2025 0.0 8.8 9.0 9.2 9.4 9.6 Q3 2026 HUF bn Gross profit Indirect costs IFRS 16 impact 9.5 -0.2 -0.5 0.0 8.7 Q3 2025 -8.3% 0.0 20.3 20.4 20.5 20.6 20.7 20.8 Q3 2026Q3 2025 Mobile Fixed SI/IT 20.7 -0.1 -0.3 0.2 20.6 HUF bn -0.6% 3,200 3,300 3,400 3,500 0 MKD mn Q3 2025 Mobile Fixed SI/IT Q3 2026 3,215.1 177.3 50.7 46.4 3,489.5 +8.5% 1,600 1,650 0 1,500 1,550 MKD mn Q3 2025 Gross profit Indirect costs IFRS 16 impact Q3 2026 -155.3 -5.9 1,479.81,474.4 166.6 +0.4% 14
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For further questions please contact the IR team Diána Párkányi-Várkonyi Capital Market Relations Hub Lead Phone: +36 1 481-7676 Email: varkonyi.diana.annamaria@telekom.hu Rita Walfisch Investor Relations Manager Phone: +36 1 457-6084 Email: walfisch.rita@telekom.hu