Customer growth strengthens o2 Telefónica’s operating performance in the first quarter 2025

• Telecommunications provider grows faster than in the same period last year with an increase of 164,000 new mobile contract customers

• High network roll-out performance and best ever measured service quality for O₂ deliver further improved service performance for consumers and businesses

• Revenues in a highly competitive market influenced by cyclical declines in hardware, planned customer migration and promotions

Telecommunications provider O₂ Telefónica you have made robust start to the 2025 financial year. In a first quarter characterized by intense competition, the company gained 164,000 new mobile contract customers. Net growth in customer accesses was another 4.5 percent higher than in the same quarter of the previous year.

At minus 2%, revenues were slightly down versus the previous year with a stable EBITDA margin overallinfluenced by declines in the hardware business and mobile service revenues. The latter declined as expected (-1.9%) and reflects the planned effect of the customer migration in national roaming with a major network partner. Excluding this temporary effect, mobile service revenue showed a positive development.