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Deutsche Telekom AG - Interim Group report - January 1 to September 30, 2011

5To our shareholders Net debt. (billions of €) 42.3 Dec. 31, 2010 Sept. 30, 2011 43.4 n Net debt increased by 2.6 percent compared with the end of 2010 to EUR 43.4 billion. n Increased due to dividend payments (including non-controlling interests) of EUR 3.5 billion, the acquisition of remaining shares in PTC (PTC transaction) for EUR 1.4 billion, the purchase of another 10 percent of the shares in OTE for EUR 0.4 billion and exchange rate effects of EUR 0.2 billion. n Reduced by free cash flow of EUR 4.5 billion. Net profit. (billions of €) 2.2 Q1 – Q3 2010 Q1 – Q3 2011 1.9 n Net profit decreased by EUR 0.3 billion to EUR 1.9 billion. n Primarily due to the negative EBITDA trend. n Development of operating results at the discontinued operation in the United States, in particular due to the discontinuation of depreciation and amortization (IFRS 5) had a slightly positive impact on net profit. Shareholders’ equity. (billions of €) 43.0 Dec. 31, 2010 Sept. 30, 2011 40.7 n Shareholders’ equity decreased by EUR 2.3 billion compared with the end of 2010. n Increased by net profit of EUR 1.9 billion. n Reduced by dividend payments (EUR 3.5 billion), currency translation (EUR 0.7 billion) and the acquisition of remaining shares in PTC, recognized directly in equity (EUR 0.2 billion), and the measurement of hedging instruments (EUR 0.6 billion). Equity ratio. (%) 33.7 Dec. 31, 2010 Sept. 30, 2011 32.7 n Total assets decreased by EUR 3.2 billion or 2.5 percent compared with the end of 2010 to EUR 124.6 billion. This was mainly due to dividend payments, currency translation effects, payments in connection with the PTC transaction, and the acquisition of further OTE shares. n In contrast to total assets (decrease of only 2.5 percent), shareholders’ equity decreased by 5.4 percent. n These trends resulted in a decrease in the equity ratio. For a more detailed explanation, please refer to the section “Development of business in the Group.”