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CEO Tim Höttges and CFO Christian Illek will present DT's Q2 2025 results for investors and answers questions on August 7, 2025. 0:00:00 Start 0:00:06 Beginning of the call ▬▬▬▬▬ Presentation ▬▬▬▬▬ 📣 Tim Höttges (CEO) 0:00:46 Q1/25 consistent reliable growth (p#4) 0:03:08 Financial Q1/25 organic (p#5) 0:03:23 Networks (p#6) 0:04:10 AI and Digital (p#7) 0:06:43 Customers (p#8) 0:10:00 ESG (p#9) 0:10:30 Guidance 2025 (p#10) 📣 Christian Illek (CFO) 0:12:01 US: Financial growth (p#12) 0:12:54 US: Customer growth(p#13) 0:14:20 DE: EBITDA growth (p#14) 0:16:42 DE: Service revenues (p#15) 0:18:14 DE: Fixed revenues (p#16) 0:18:48 DE: Fixed KPIs (p#17) 0:20:21 DE: Mobile KPIs (p#18) 0:20:54 EU: Financials (p#19) 0:21:27 EU: Commercial KPIs (p#19) 0:22:10 Systems Solutions (p#21) 0:23:00 Financial Q1/25 reported (p#22) 0:23:15 FCF AL and adj. net profit (p#23) 0:24:34 Net dept (#24) 📣 Tim Höttges (CEO) 0:26:00 Q2/25 Key messages (p#26) ▬▬▬▬▬▬▬ Q&A ▬▬▬▬▬▬▬ Questions were answered by Tim Höttges (CEO), Christian Illek (CFO) and Hannes Wittig (Head of IR) 0:25:16 1. 🙋♂️ James Ratzer (Newstreet) ➡️ DE - broadband net-adds: will DT be more price aggressive or mor subscriber losses in rest of 2025= ➡️ DT - Gigafactory JV with Nvidia: what is the financial impact? Hoe to quantify investments + revenues? 0:34:10 2. 🙋♂️ Robert Grindle (Deutsche Bank) ➡️ US - DT's view on the US in context of the tax threat 899, tax benefits, M&A approvals and DEI push back? ➡️ Financial reserve: will DT apply cash firepower earmarked at the CMD24 or too early? 0:25:16 3. 🙋♂️ Akhil Dattani (J.P. Morgan) ➡️ DE - broadband market: as the largest operators loose ca 100k subscribers: has something changed? ➡️ US - growth perspective: Does DT see growth opportunities? Organic or M&A? 0:44:31 4. 🙋♂️ Joshua Mills (Exane) ➡️ DE - broadband: is FTTH a tool to grow the market? ➡️ AI - DT's engagement in AI investments: Is DT in talks with other EU telcos to offer 0:50:33 5. 🙋♂️ Polo Tang (UBS) ➡️ DT - 500bn state investment in infrastructure: what is the impact on the DE market? Will DT benefit? ➡️ DT - Gigafactory JV with Nvidia: what is DT's role and what is the business model? 0:56:28 6. 🙋♂️ Carl Murdock-Smith (Citi) ➡️ DE - IT spendings by public sector: what is the visability of government spendings? ➡️ DE - accounting adjustments due to court ruling: why is the impact now in Q2? When was the ruling? 0:59:19 7. 🙋♂️ Ottavio Adorisio (Bernstein) ➡️ DE - FTTH adoption ➡️ DE - EBITDA guidance: runrate in Q4-2025? 1:04:40 8. 🙋♂️ Steve Malcolm (Redburn) ➡️ DE - tax: quantification of impact from tax reliefs? ➡️ Capital allocation: why did DT not buy shares form Softbank? 1:08:47 9. 🙋♂️ Paul Sidney (Berenberg) ➡️ DE - preformance management: how does DT judge the success long and short term? ➡️ M&A in DE: is anorganic growth a perspective for DT? 1:15:45 10. 🙋♂️ David Wright (BofA Merrill Lynch) ➡️ Shareholder remuneration: what could be a reason, not to extend the share buyback into 2026? ➡️ DE broadband - could DT accelerate FTTH build-out to slow line loss?