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Deutsche Telekom AG - Interim Group report - January 1 to September 30, 2015 - Deutsche Telekom at a glance, The T-Share

6 To our shareholders Deutsche Telekom. Interim Group Report 9M 2015. DEUTSCHE TELEKOM AT A GLANCE In the first nine months of 2015, Deutsche Telekom remained on course for growth: Net revenue increased by 12.5 percent to around EUR 51.4 billion, mainly driven by the strong U.S. business, which increased by around 35 percent thanks to continued substantial gains in market share and positive exchange rate effects. Revenue generated in the Germany operating segment grew slightly by 1.4 percent. Our Systems Solutions operating segment remained more or less on a par with the prior-year level, while revenue in our Europe operating segment declined slightly. Driven by the strong revenue growth, adjusted EBITDA also increased by 12.5 percent to EUR 14.8 billion. As with revenue, the U.S. business was the main driver for adjusted EBITDA, increasing by 55.7 percent. In the Germany and Europe operating segments, adjusted EBITDA decreased slightly. In Germany this decrease was primarily due to higher employee-related expenses in connection with the network upgrade and build-out, while in Europe it was mainly attributable to the revenue decline. Cash outflows for investments in intangible assets and property, plant and equipment (cash capex) were up EUR 2.8 billion on the prior-year period at around EUR 11.6 billion. This reflects, on the one hand, higher investments for the network build-out, especially in the United States and in Germany, and, on the other, increased cash outflows for the acquisition of mobile spectrum, which stood at around EUR 3.8 billion in the first nine months of this year, which is around EUR 1.8 billion higher than in the prior-year period.Evenexcludingspectruminvestment,capitalexpenditureincreased by EUR 1.0 billion year-on-year. Nevertheless free cash flow increased by 12.4 percent to around EUR 3.5 billion. In the first three quarters of 2015, net profit stood at EUR 2.3 billion, around EUR 0.7 billion down on the same period in the prior year. This decrease was mainly attributable to income of EUR 1.7 billion recorded in the prior year from divestitures in connection with the disposal of the Scout24 group. Adjusted for special factors, net profit increased by around EUR 1.1 billion to a total of EUR 3.2 billion. In view of the business development in the first nine months of 2015, Deutsche Telekom confirms its guidance for the full year. For further information, please refer to the section “Forecast,” page 32. THE T-SHARE Total return of the T-Share in the first three quarters of 2015 % 90 95 100 105 110 115 120 125 130 135 Jan. 1, 2015 Feb. 15, 2015 Apr. 1, 2015 May 15, 2015 July 1, 2015 Aug. 15, 2015 Sept. 30, 2015 DAX 30 Dow Jones Europe STOXX 600 Telecommunications© Total return of the T-Share (dividend reinvested)

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