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Investor Presentaiton

Guidance 2021 confirmed EBITDAAL, yoy eCAPEX yoy Organic Cash Flow (telecom)* 2021e before tax refund allocation 2021e After tax refund allocation Around +1% ~ €7.3 bn > €2.6bn Flat - € 7.6 -7.7bn > €2.2bn I Net debt / EBITDAAL (telecom) Around 2x in the medium term Around 2x in the medium term 13 13 Dividend €0.70 €0.70
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