Vodafone 2015

Consumer 2015

• Price bundling in Europe to stimulate data usage and stabilise ARPU
• Leverage data in emerging markets
• Differentiate through customer experience
• Improve profitability, ARPU vs. A&R
• Focus only on differentiated services
• Leverage network investment

Enterprise 2015

• Accelerate One Net and IP-VPN
• Consolidate our lead in M2M
• Grow Vodafone Global Enterprise
• Leverage CWW’s hosting capability
• Push cloud-based software for SMEs

Networks 2015

• Support higher speed data in both mature and emerging markets
• Widespread deployment of HSPA+, LTE and high capacity backhaul

Operations 2015

• Elimination of legacy IT and optimisation of investments
• Single IT stacks, progressively
• Common operations processes
• Unclogging the organisation
• Cost efficiency

Shareholder returns continue to be a priority

• 7% growth in ordinary dividend per share for FY 12/13
• £1.5bn share buyback commenced December 2012
• Strong balance sheet facilitates continued investment and spectrum acquisition
• VZW dividends allow for incremental shareholder returns and investment