Investor Presentaiton

nuuday Letter from the CEO In brief Business and strategy Performance Corporate governance Financial statements ....... performance of the Nuuday business - both concerning sales but critically also in raising the quality of our customer experience, which is central to the prom- ise we made after my arrival in mid-2021. Material improvements in our customer experience followed in 2022, thanks to a wide-ranging programme of improve- ments across our processes, online resources, customer journeys and work on stabilising and streamlining our legacy technology stack. For example: • • The overall volume of customer calls to YouSee fell by 11% in 2022, once again reflecting improvements in the design of our customer journeys. Introducing the Genesys call handling or CXM platform during 2022 across our key businesses led to a material improvement in our ability to handle call traffic efficiently, in line with cus- tomer expectations. - - • We dramatically improved the preci- sion of fibre delivery - the percentage of customers who received their fibre installation on the date originally promised from a 'worst in class' 20% - at the beginning of 2022 to a respect- able 70% by the end of the year. In parallel, we also halved our average delivery time thanks to improved cooperation with our network opera- tor partners. • Overall, our brand Net Promoter Score (bNPS) improved across all the Nuuday brands by 6 points during the year, in- cluding a rise of more than 15 points for YouSee our leading consumer brand. Meanwhile, we have been investing steadily to improve the quality and value propositions offered by our product portfolio to match the best that Euro- pean telco peers can offer. YouSee launched YouSee Play - our new TV & streaming offering that allows cus- tomers to combine traditional flow TV channels with streaming services at af- fordable price points - and, for the first time, customers can opt not to have a set-top box. We have been pleased by the consumer response to YouSee Play, which has helped generate a sales uplift of 40%, and by the positive reaction of housing associations to the product. This integration of streaming allowed us to merge YouTV - our previous OTT TV of- fering into YouSee's overall entertain- ment proposition at the end of 2022. - TDC Erhverv also invested significantly in reshaping its proposition, by improving and repositioning its offerings for the SMB segment during Q3. We also in- vested materially to strengthen our security solutions, including our 24/7 Security Operations Center, which has resulted in a significant influx of new customers who prioritise security - especially given the higher risks facing Danish public and private organisations from early 2022 onwards. Accelerating our business transformation programme In 2022, we saw a shift in pace and direc- tion from the business, as we aim to upgrade from a 'legacy' telecoms pro- vider with poor systems and customer experiences into a 'best in class' digital service provider on a par with the best in Europe. None of this would be possible without high levels of motivation and enthusiasm for the change among our colleagues. This is an area we have invested in heav- ily, and I am delighted with the extent to which our Nuuday colleagues have em- braced both the need for the transfor- mation and our strategy for delivering it. As a result, we saw significant gains in job satisfaction over 2022, with our internal eNPS and eSAT scores jumping 7 points and 2 points, respectively - Nuuday now outperforms the average achieved by larger Danish businesses and is on a par with the highest performers in key cate- gories. Excitement about being part of the largest transformation in Danish tel- ecoms history is a key motivator for the wider business as it is for me and my management team. This enthusiasm is also reflected in the efforts we have made to support a gen- uine transformation among our people. As part of accelerating the shift from a legacy to a digital challenger mindset, we have developed an important and chal- lenging training programme to enhance the 'cognitive diversity' of our population and embrace approaches that differ from those they might have chosen his- torically. This has been an important ele- ment of our successful transformation during 2022. We also continued to make steady pro- gress with our sustainability agenda. Our strategy includes a focus on online edu- cation for children and improving the sustainability of our product offerings, while ensuring we secure our Ecovadis platinum rating - among the global top 1% of companies for corporate sustaina- bility performance. Our work on transforming our products, customer experience, technology and work practices is steadily improving our financial performance and is central for our long-term financial ambitions. In 2022, Nuuday performed in line with its financial guidance. Service revenue grew slightly by 0.5% YoY, as growth in mobile services and high-speed broad- band, driven by both customer growth and price adjustments, offset the decline in legacy services such as PSTN and TV. Gross profit declined by 2.9% YoY, to DKK 4.847bn, due to increasing energy prices, increasing costs from switching to fibre, and increasing third-party content costs. With Nuuday entering the next stages of its transformation programme, we be- gan reporting transformation costs sep- arately from Q2. For the full year, un- derlying EBITDA (excl. transformation Nuuday Annual Report 2022 6

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