Investor Presentaiton

Vodafone Business: Growth acceleration Strong financial performance Business service revenue growth (%) Unique scale & capabilities Digital services² revenue growth (%) 0.7% 0.8% 2.6% 19.3% 18.2% 15.6% Attractive addressable markets Germany €54bn UK €37bn Italy Spain Other¹ €18bn €17bn €18bn 16.9% 12.9% Corporate €89bn SME €39bn SoHo €16bn (0.6%) FY20 FY21 FY22 FY23 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Mobile Fixed €16bn €27bn €10bn Unified Comms IT Cloud & Security €65bn loT services €13bn €13bn Europe Q4 +3.4% (exc. Spain) Strong growth in corporate, SME & public sectors • Ongoing margin expansion with good incremental ROCE Curated & segment specific product portfolio ⚫ €1bn revenue loT business & 162 million connections •V-Hub reaching 5 million unique visitors supporting SoHo & SMEs • €140+ billion addressable market size Accessing European business demand for digitalisation • 11% p.a. digital market growth O vodafone 18 1Other includes Other Europe, Africa & Turkey FY23 Results: May 2023 2 Digital services include loT, Cloud & Security services

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