Vodafone Group Plc is one of the world's largest telecommunications companies Vodafone providing a wide range of services including voice, messaging, data, fixed broadband and TV. We have 470 million mobile customers, 14 million fixed broadband Group Plc customers, 9.8 million TV customers and employ around 108,000 people. We have mobile operations in 26 countries, partner with mobile network providers in over 50 more and have fixed operations in 17 countries. The Group’s operations are split into two Investor geographic regions – Europe and Africa, Middle East and Asia Pacific (AMAP).

Acquisition of Acquisition of Sale of 45% interest Mannesmann AG, TelstraClear in in Verizon Wireless in USA Factsheet History New Zealand acquiring further businesses in Europe Demerger from Acquisition of Hellas Online Acquisition of Racal and full listing Acquisition of Disposal of interest in Greece © Vodafone Group 2016 on the LSE controlling stake in in China Mobile Cable and Wireless Vodafone Essar (now Worldwide in UK Vodafone India) Acquisition of Ono in Spain

1984 1991 1999 2000 2006 2007 2009 2010 2011 2012 2013 2014

Acquisition of Cobra Automotive in Italy Incorporated as Racal Merger with AirTouch Sale of interest Strategic Radio Limited Communications, Disposal of Vodafone Australia in SFR in France Ownership of Vodafone formation of Verizon Vodafone Japan merged with India & Italy increased to 100% Wireless (Vodafone Hutchinson 3G Australia held a 45% stake) Acquisition of Telsim Vodacom Group (now Vodafone Turkey) became a subsidiary Acquisition of Kabel Deutschland in Germany

Our people

Gerard Kleisterlee Vittorio Colao Chairman Chief Executive Officer Appointed July 2011 Appointed July 2008 He retired as President/CEO and Chairman of Philips on 31 March He joined Vodafone in 1996 and served as CEO Italy and then regional 2011 after spending three decades with the company. He is also CEO before joining the Board in 2002. He left Vodafone in 2004 for RCS a Board member of Daimler AG, Royal Dutch Shell and Dell Inc. MediaGroup before re-joining the Board in October 2006 as CEO, Europe and Deputy CEO.

Nick Read Non-executive board members: Chief Financial Officer 6LU&ULVSLQ'DYLV'U0DWKLDV'RSIQHU'DPH&ODUD)XUVH9DOHULH*RRGLQJ5HQHH-DPHV6DPXHO-RQDK 1LFN/DQG'DYLG1LVKDQG3KLOLSSafaricom 'LUHFWRU 5RVHPDU\0DUWLQ *HQHUDO&RXQVHODQG&RPSDQ\6HFUHWDU\ 5RQDOG6FKHOOHNHQV +5'LUHFWRU  and Vodafone Qatar. Key financials 108k FY 14/15 FY 15/16 employees...... from over Revenue (€bn) 53.9 55.9 24% women Service revenue (€bn)* 49.1 50.7 130countries in top management roles Other revenue (€bn) 4.8 5.2 Share details EDITDA (€bn) 15.2 15.8 Adjusted operating profit (€bn) 4.5 4.3 Vodafone share price vs. DJ Global Telcos (pence) Vodafone Capital expenditure (€bn) 11.9 11.7 30 September 2011 to 30 September 2016 DJ Global Telcos, rebased to Vodafone 280 Free cash flow (€bn) 1.5 1.3 Listing London, NASDAQ 260 Dividend per share (€ cents) N/A** 14.48 240 Ticker VOD:LN, VOD:AR 220 Types Ordinary, ADR *Revenue principally derived from the provision of voice, SMS and data services ** Euro equivalent not available 200 Market Cap Approx. £59bn 180 as of 30 Sep 2016 Mobile incoming Other 160 Diluted shares* 26,819 million Mobile out-of- 6% Consumer 140 6% bundle 25% contract Sep 2011 Sep 2012 Sep 2013Sep 2014 Sep 2015 Sep 2016 21% Fixed 39% Enterprise 28% 7RWDOPLOOLRQRUGLQDU\VKDUHVLQLVVXHDW6HSWHPEHU'LOXWHGVKDUHVH[FOXGHPLOOLRQ 5% treasury shares and dilution from the Mandatory Convertible Bonds issued in February 2016. Includes Other shares from employee options and share awards representing 205 million shares at 30 September 2016. 43% 27% Note: Past performance cannot be relied on as a guide to future performance. Mobile in-bundle Consumer prepaid Group service revenue FY 15/16 Group service revenue FY 15/16 Net debt of €40.7bn at 30 September 2016 Italy Spain Germany The Group has a range of debt instruments including bonds, commercial paper and bank 10% 9% Other India 22% 22% loans. The currency profile of the Group’s debt is broadly in line with the value of the 12% 25% Other Group’s underlying assets. 8% Vodacom 9% Spain 13% Vodacom 11% 16% 19% India 13% Long term credit ratings: UK 11% Germany Italy Long term credit ratings: UK Moody’s Baa1 Fitch BBB+ Standard & Poor’s BBB+ Group service revenue FY 15/16 Group EBITDA FY 15/16 1 Our markets

UK (100% ownership) Germany (100% ownership) €8.4bn revenue, €1.8bn EBITDA €10.6bn revenue, €3.5bn EBITDA Customers: 18.0m mobile (68% contract), 1 Customers: 30.5m mobile (54% contract), 0.2m fixed broadband 6.0m fixed broadband, 7.8m TV 1 Market share: 23% 2 Market share: 33%2

Italy (100% ownership) €6.0bn revenue, €2.0bn EBITDA Customers: 23.5m mobile (19% contract), 1 Spain (100% ownership) 2.0m fixed broadband Market share: 32%2 €5.0bn revenue, €1.3bn EBITDA Customers: 14.5m mobile (79% contract), 1 3.1m fixed broadband, 1.2m TV India (100% ownership) Market share: 20% 3 €6.2bn revenue, €1.8bn EBITDA Customers: 200.7m mobile (8% contract)1 Market share: 22% 2

Subsidiaries (largest highlighted) Joint ventures / Associates Partner Markets Vodacom Group (65% ownership) €5.3bn revenue, €2.0bn EBITDA Customers: 73.1m mobile (7% contract)1 Market share: 52% (South Africa)2

20 subsidiaries: Albania, Czech Republic, Germany, 2 joint ventures: Australia and Indus Towers References Vodafone data correct as of 31 March 2016 unless otherwise stated. Greece, Hungary, Ireland, Italy, Malta, Netherlands, 1 associate: Safaricom See www.vodafone.com/content/index/investors/glossary for a glossary of key terms. Portugal, Romania, Spain, Turkey, UK, Egypt, Ghana, Over 50 partner markets extending our reach beyond 1 Data correct as of 30 September 2016. 2 Vodafone estimates for the quarter ending 30 June 2016 based on mobile service revenue. India, New Zealand, Qatar, and Vodacom Group equity investments 3 Vodafone estimates for the quarter ending 30 June 2016 based on total communications service revenue.

We expect these trends to shape our industry… Move to Euro reporting

Growing importance Increasing demand for Strong demand from High level Improving business of data and other new unified communications emerging markets of competition environment in Europe Over half of Group revenue, EBITDA and free cash flow is now revenue areas generated in euros. To align our reporting for the year ending

31 March 2017 we have moved to reporting on a euro basis Guidance - For the year ended 31 March 2017 As a result our strategy will focus on… EBITDA: 3 - 6% Free cash flow: at least €4.0bn after all capex, before M&A, spectrum €15.7bn - €16.1bn Data Fixed Enterprise and restructuring costs Demand for data is rapidly More and more businesses and We want to become the leading Dividend: intention to grow dividend per share annually accelerating in our European communications provider for in euros from a base of 14.48 euro cents in FY 15/16 markets & our fast growing communications – converged businesses across the world, emerging markets. We are large or small. We provide Assumptions focused on providing the best and we are adapting to meet a range of services including Assumes FX rates of €1:£0.79, €1:INR 76.4, €1:ZAR 16.5, €1:TRY 3.2, €1:EGP 9.8. Guidance excludes the data experience, outstanding these demands. mobile, fixed, IoT, Cloud & Hosting impact of licence and spectrum payments, material one-off tax-related payments, restructuring costs, and any fundamental structural change to the Eurozone. It also assumes no material change to the customer service and a range that are easy to use, current structure of the Group, and has not been adjusted for the potential de-consolidation of Vodafone of worry-free price plans and worry-free and cost-effective. Netherlands following the announced intention to create a 50:50 Joint Venture with Ziggo. additional services. Investor calendar

Supported by… Q3 results Interim dividend payment date 2 February 2017 3 February 2017 Year end results Q1 results An excellent network experience 16 May 2017 21 July 2017 model and operations

Advisors

Each of which is accelerated by our three key programmes … Corporate brokers Auditors Project Spring Customer eXperience Fit for Growth Registered and Head Office Contact details eXcellence Vodafone House Investor Relations: The Connection Tel: +44 (0) 7919 990 230 Email: [email protected] Invested £19bn in mobile Building differentiation by Supporting our revenue growth Newbury Berkshire General enquiries: and fixed networks, products, improving our customer service and improving our efficiency RG14 2FN UK switchboard +44 (0)1635 33251 England services and our retail platform. and experience to be best and agility, delivering improved Registered in England No. 1833679 Completed in March 2016. in class. returns.

Disclaimer Information in the factsheet relating to the price at which shares have been bought or sold in the past, or dividends paid, cannot be relied upon as a guide to future performance. This factsheet does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire or dispose of securities in any company within the Group. This document contains forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995 which are subject to risks and uncertainties because they relate to future events. These forward-looking statements include, among others, the guidance we have provided in relation to EBITDA and free cash flow and expectations related to Project Spring. Some of the factors which may cause actual results to differ from these forward-looking statements can be found by referring to the information contained under the headings “Risk management” and “Additional Information – Forward-looking statements” in the Group’s Annual Report for the year ended 31 March 2016 which can be found on the Group’s website (vodafone.com/investor). We do not have any obligation to update these forward-looking statements and, subject to compliance with applicable law, do not intend to do so. The factsheet also contains non-GAAP financial information which the Group’s management believes is valuable in understanding the performance of the Group or the Group’s businesses. However, non-GAAP information is not uniformly defined by all companies and therefore it may not be comparable with similarly titled measures disclosed by other companies, including those in the Group’s industry. Although these measures are important in the assessment and management of the business, they should not be viewed in isolation or as replacements for, but rather as complementary to, the comparable GAAP measures. Vodafone, the Vodafone Speechmark, the Vodafone Portrait and Vodacom are trademarks of the Vodafone Group. The Vodafone Rhombus is a registered design of the Vodafone Group. Other product and company names mentioned herein may be the trademarks of their respective owners. 2