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Czech Republic, A O2 Czech Republic, a. s. November 2018 (updated with 9M 2018 results) General Presentation Cautionary statement Any forward-looking statements concerning future economic and financial performance of O2 Czech Republic a.s. contained in this Presentation are based on assumptions and expectations of the future development of factors having material influence on the future economic and financial performance of O2 Czech Republic a.s. These factors include, but are not limited to, public regulation in the telecommunications sector, future macroeconomic situation, development of market competition and related demand for telecommunications and other services. The actual development of these factors, however, may be different. Consequently, the actual future results of economic and financial performance of O2 Czech Republic a.s. could materially differ from those expressed in the forward-looking statements contained in this Presentation. Although O2 Czech Republic a.s. makes every effort to provide accurate information, we cannot accept liability for any misprints or other errors. 2 Introduction & Strategic highlights Leading retail digital economy enabler in Czech Republic… …fastest growing mobile player & entering fixed in Slovakia Leading fixed/mobile operator 5,008 Mobile 532k fixed voice lines Leading fixed BB provider 797k xDSL & LTE home BB Fastest growing Pay TV provider 308k Pay TV (IPTV, OTT, Multi) No. 3 mobile fastest growing 2,002k Mobile O2 Czech, O2 Slovakia, O2 TV, O2 Family, O2 IT Services, others* *Tesco Mobile CR, ICA, Bolt Start Up Development, eKasa, O2 Financial Services, O2 Business Services Slovakia 4 Figures as of 30th September 2018 Streamlining the business… …resulted in turn around of our financial trends More focus on what we do Accelerated what we do . Mobile revolution (2013) . 4G (LTE) 99% coverage[1]… . Fixed revolution (2016) . …and monetized trend . New proposition . O2 TV for all . New features . Sport bars & pubs We do things differentially We entered new businesses . O2 Spolu – convergent bundle… . Hardware insurance . …mobile voice, data & Pay TV . Travel insurance . More content… . Start-up accelerator . …More channels . Electronic sales reporting solution 5 [1] based on CTU methodology, within Top 5 in Europe The most popular sports content exclusively on O2 TV … …with unique features and bundled in packages Best exclusive sport content Unique technology and features Recording Timeshift Menu 4 devices Selection Multi-angle of matches camera viewing Included in all bundles Best customer experience 6 We are starting up new business activities… …to compensate pressures in traditional business . Electronic sales reporting - new legislation eKasa . … market leader after first two waves… . …one-off hardware revenue, recurring service fee . smart travel: the only postpay travel insurance on the market Insurance . handsets & tablets: for newly sold hardware . >350k active insurance policies . Minor cash investments into advanced start-ups . Typically own O2 experience before investment . Not only financial contribution, but also O2 ecosystem 7 Strategic commercial initiatives & Performance Highlights in 1H 2018 We are best positioned for WTTx/5G … …and secured O2 brand minimum until 2022 . 40 MHz block in 3.7 GHz spectrum acquired… . … suitable for WTTx in areas with insufficient xDSL coverage… . …450 MHz spectrum renewed for reasonable price Current spectrum allocation[1] 40 3.7 GHz TDD 25 25 40 2.6 GHz TDD Other[1] O2 TM VOD . O2 brand license agreement extended by 3 years (Jan 2022)… . …another 5-years extension (till Jan 2027) available… . .. partnership with Telefonica till at least Jan 2022 . …related capex & cash outflow fully booked in 2017 9 [1] 450 MHz, 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,600 MHz FDD Expansion of technology agnostic broadband proposition with WTTx/LTE TDD solution using 3.7 GHz spectrum WTTx/LTE TDD (3.7 GHz) up to 250 Mbs Wireless rDSLAM, VDSL3, vectoring, bonding, FTTH 20 Mbs – 1 Gbs Fixed 10 We improved significantly 4G LTE speed & quality… …shops redesign to increase sales performance . 99% 4G LTE coverage (800 MHz) already since 2016 year-end… . …further NW densification & 2CC[1] installation… . … most intense data traffic localities to be upgraded with 2CC 4G LTE downlink speed in Prague[2] 2.2x . 4G LTE speed growing rapidly… 40 . …Czech republic in No. 8 in EU and No. 18 worldwide[3] 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 . All retail shops to be redesigned in next 2 years… . …focus on sales force/customer interaction.. .. up-sell/cross-sell potential… . …aiming at improving customer experience 11 [1] two capacity layers (800 MHz + 1,800 MHz); [2] in MB/s; source: internal reports; [3] source: Ookla (http://www.speedtest.net) Exclusive sport content & bundled proposition… ..driving accelerated O2 TV base uptake Pay TV net adds[1] Exclusive 20 content 1 1 7 8 including own 4 4 5 6 -3 -1 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 O2 TV reach[2] Unity interface +22% STB WEB 673 553 Unique 365 APP functions & 288 features 265 308 Sep 17 Sep 18 Traditional Multi-device 12 [1] in thousand; IPTV & OTT, incl. Multi (second STB); [2] Traditional paid tariffs: IPTV, OTT, Multi; Multi-device: applications & web (average monthly number of unique users, incl. paid O2 TV Sport Pack) Demand for bundles, data centric tariffs & LTE smartphone focus… …driving data traffic growth; data successfully monetized Uptake in LTE HW penetration with further growth potential 54% 42% Data centric & bundled 28% proposition 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 Data customers[1] LTE HW penetration[2] Average monthly postpay data[1] usage + 26% y-o-y 1.4 1.1 LTE 1.0 smartphone & tablets/PCs sales focus 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 Total data traffic Average data usage (postpay, in GB) 13 [1] small/big screen (excl. FWA); [2] per total number of handsets Strong and improving performance in Slovakia… …driven by growing base, improving mix & data uptake No. 1 4G LTE network coverage in Slovakia[1] 4G LTE coverage . over 95% 4G LTE (800/1800 MHz) population coverage . WTTx/FWA BB & Pay TV via LTE TDD (3.5/3.7 GHz) & 4G LTE . national fiber backbone & transmission network expansion Customer base Competitive data centric proposition (‘000; % postpay) +4.5% rich data limits in top “O Pausal” tariffs 2 002 . 2 1 916 62% profitable LTE handset sales installment model . 58% . LTE HW penetration[2] at 55% (+12 p.p. y-o-y) Sep 17 Sep 18 Revenue EBITDA/margin Growing base & ARPU; strong brand (growth rate in EUR) (growth rate in EUR) +9.7% . blended APRU +3.7% (postpaid +3%)[3] +18.1% 36,2% . O2 SK voted “Operator of the Year” for the 8th consecutive year 33,6% . CSI maintained high at 81.7 points 9M 17 9M 18 9M 17 9M 18 14 [1] based on public information provided by other operators, [2] per total number of handsets, [3] year-on-year growth rates in EUR Financial Performance GeneralJanuary characteristics– September 2018 Group Financials New proposition & Slovakia driving y-o-y revenue growth… …growing EBITDA on the back of strict cost management Change CZK millions Jan - Sep 2018[1] 9M18 /9M17 Operating Revenue 28,209 +1.1% CZ Fixed 7,768 CZ Mobile 15,081 Slovakia 5,524 EBITDA 8,342 +6.9% EBITDA margin 29.6% Net Income 4,217 +2.5% Free Cash Flow 3,415 Operating Revenue EBITDA 1,1% 28 209 6,9% 27 893 8 342 7 804 9M 17 9M 18 9M 17 9M 18 16 [1] including CZK 121 million positive net income effect of IFRS 15 Mobile Business Double digit growth of data, financial services, and HW revenue… …mobile data still include also technology agnostic BB product CZK millions (% change y-o-y) Slovakia Mobile Revenue[1] +9.3% Czech Mobile Revenue +1.8% +58 +32 +274 +506 +64 (+7.6%) 15,081[2] 14,816 (+22.0%) (+12.2%) (+50.9%) (+1.9%) -82 positive -587 (-13.8%) IFRS 15 (-9.3%) impact negative IFRS 15 impact Including LTE component of technology agnostic broadband product 9M 17 Voice Data Messaging Financial S. Interconnect Hardware Other 9M 18 17 [1] Key drivers: Data: +16%, Hardware: +31%; O2 Slovakia, growth rate in local currency (EUR);[2] CZK 4 million negative effect of IFRS 15 Fixed Business Fixed voice declining due to fixed to mobile substitution… … technology agnostic BB product still in mobile data CZK millions (% change y-o-y) -3.0% 8,006 +7 +97 [2] (+0.6%) (+60.2%) 7,768 -12 -254 -46 -31 (-4.7%) (-13.6%) (-1.2%) (-4.1%) (+1.1%) [1] LTE component of technology agnostic broadband product included in “Mobile data” 9M 17 Voice BB & Pay TV ICT Data Hardware Other 9M 18 18 [1] including LTE component of technology agnostic broadband product; [2] CZK 19 million positive effect of IFRS 15 Group Costs Cost base under control…with savings in Czech… …and minor revenue related growth in Slovakia CZK millions -1.4% (% change y-o-y) -0.9% +1.6% +93 20,140 (+3.0%) 19,950[2] -68 -49 -5 -21 -141 (-0.6%) (-1.7%) (-4.5%) (-0.8%) positive (-8.5%) IFRS 15 impact (acquisition commissions) 9M 17 Costs of Service Commercial Costs Marketing Personnel NW & IT repairs Other [1] 9M 18 Expenses and maintenance [1] 19 Taxes other than income taxes, Bad debt provisions, Rentals, Buildings, Vehicles, Consumables, Consultancy, Billing, Collection, Call Centers, management fees and other; including Internal expenses capitalized in fixed assets; [2] CZK 417 million positive effect of IFRS 15 (commissions only) Group Capex Czech CAPEX spent on IT transformation & sport content… …full year CAPEX/Revenue will exceed 10% CZK millions CAPEX/ Revenue 3 404 12.0% Slovakia (+5.9% y-o-y): 450 MHz 13.2% .
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