Investor Presentaiton

FY23 performance: Slowing in line with expectations Service revenue growth Adjusted EBITDAAL ROCE Group - Group excl. Turkey -1.3%1 Post-tax ROCE² Pre-tax ROCE² 2.7% 2.5% 2.5% €14.9bn €15.2bn €14.7bn 7.0% 6.8% 2.0% 2.0% 1.8% 1.9% €14.4bn 1.6% 33.4% 1.4% 1.4% 6.4% 5.3% 5.0% 5.1% 33.1% 32.8% 32.1% 4.0% 3.8% 0.5% 0.5% Q3 Q4 Q1 Q2 Q3 Q4 FY20 FY21 FY22 FY23 FY22 FY22 FY23 FY23 FY23 FY23 FY20 FY21 FY22 FY23 • Growth maintained with Europe -0.4% & growing in Africa Slowdown impacted by commercial underperformance in Germany Adjusted EBITDAAL -1.3% 1 reflecting Germany performance & energy costs • Absolute impacted by FX headwinds Full-year dividend maintained at 9.00c • ROCE broadly maintained above pre-pandemic levels despite macroeconomic challenges O vodafone 15 1-0.6% excluding the €105m headwind from prior year legal settlement in Italy 2ROCE excluding Vantage Towers in all periods FY23 Results: May 2023

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