Deutsche Telekom completes the repurchase of bonds

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• Bonds with a total nominal value of 2.68 billion euros repurchased
• Active liquidity and liability management
• Optimization of maturity profile and financing requirements

Deutsche Telekom AG has successfully completed its bond repurchase.

The offer to investors to tender the Deutsche Telekom bonds they hold for repurchase was published on January 20, 2023 and covered a total of twelve bonds in a combined nominal amount of around EUR 10 billion. The offer period expired on January 27, 2023. Deutsche Telekom successfully completed the buy-back with a volume of 2.68 billion euros.

Bond buybacks at a glance

The settlement date is expected to be on 1 February 2023. All Notes accepted for purchase will be cancelled on the Settlement Date.

Deutsche Telekom is optimizing its liquidity and liability positions with this repurchase of bonds. The profile of the average bond maturities for the next few years has been further improved and the exposure to current generally rising refinancing costs has been reduced.

For the repurchase of bonds, Deutsche Telekom intends to use part of the expected proceeds from the agreed sale of 51 percent of the tower business in Germany and Austria. This transaction was agreed in July 2022 and is expected to be completed in the short term.

The proceeds accruing from this tower transaction reduce Deutsche Telekom's net debt and the ratio of net debt to adjusted EBITDA.

Disclaimer
This media information is for information purposes only and is not an invitation to acquire any bonds. The tender offer is being made pursuant to, and subject to the terms of, a Tender Offer Memorandum dated 20. January 2023 (the “Tender Offer Memorandum”). The distribution of this media information and/or the Tender Offer Memorandum may be restricted or prohibited in certain jurisdictions.

Any persons receiving this media information and/or the Tender Offer Memorandum should inform themselves of and observe any such restrictions.

This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19 (5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49 (2) (a) to (e) of the Order (all such persons together being referred to as "relevant persons"). Any person who is not a relevant person should not act or rely on this document or any of its contents.

This media information contains forward-looking statements that reflect the current views of Deutsche Telekom management with respect to future events. They are generally identified by the words “expect,” “anticipate,” “believe,” “intend,” “estimate,” “aim,” “goal,” “plan,” “will,” “seek,” “outlook,” or similar expressions and include generally any information that relates to expectations or targets for revenue, adjusted EBITDA AL, or other performance measures. Forward-looking statements are based on current plans, estimates, and projections, and should therefore be considered with caution. Such statements are subject to risks and uncertainties, most of which are difficult to predict and are generally beyond Deutsche Telekom’s control. They include, for instance, the progress of Deutsche Telekom’s staff-related restructuring measures and the impact of other significant strategic or business initiatives, including acquisitions, dispositions, and business combinations. In addition, movements in exchange rates and interest rates, regulatory rulings, stronger than expected competition, technological change, litigation and regulatory developments, among other factors, may have a material adverse effect on costs and revenue development. If these or other risks and uncertainties materialize, or if the assumptions underlying any of these statements prove incorrect, Deutsche Telekom’s actual results may be materially different from those expressed or implied by such statements. Deutsche Telekom can offer no assurance that its expectations or targets will be achieved. Without prejudice to existing obligations under capital market law, Deutsche Telekom does not assume any obligation to update forward-looking statements to account for new information or future events or anything else. In addition to figures prepared in accordance with IFRS, Deutsche Telekom presents alternative performance measures, e.g., EBITDA, EBITDA AL, adjusted EBITDA, adjusted EBITDA AL, adjusted EBITDA margin AL, Core EBITDA, adjusted EBIT, EBIT margin, adjusted net profit/loss, adjusted earnings per share, free cash flow, free cash flow AL, gross debt, and net debt. These measures should be considered in addition to, but not as a substitute for, the information prepared in accordance with IFRS. Alternative performance measures are not subject to IFRS or any other generally accepted accounting principles. Other companies may define these terms in different ways.

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