24 July 2025

Simon Lowth to retire as BT's Group CFO, with Patricia Cobian
appointed as successor

BT Group plc announces today that after nine years as Group Chief Financial Officer (CFO), Simon Lowth plans to retire from the business. As part of an orderly succession plan and following a comprehensive global search, BT has appointed Patricia Cobian to succeed him.

Patricia is currently CFO at Virgin Media O2. She will join the BT Group Board and its Executive Committee in the summer of next year (2026), with Simon to retire following a managed handover. BT will announce the date of Patricia's appointment in due course.

Allison Kirkby, BT Group Chief Executive, said: "I am thrilled that Patricia is going to be joining BT next year. Her leadership, deep industry experience and knowledge will be invaluable, as we continue our once-in-a-generation upgrade of the UK's digital infrastructure and accelerate BT's modernisation.

"As he prepares for retirement, I'd like to thank Simon for his outstanding contribution to BT over so many years - and on a more personal note, for his wise counsel and partnership to me. His leadership has played a major part in our strategy and transformation to date, as we become a better BT for our customers, our colleagues, the country and our owners."

Adam Crozier, BT Group Chairman, said: "Patricia is a highly experienced, transformative telco leader, and she will be an excellent addition to the BT Group Board and the business. On behalf of all of us here, I also want to join Allison in offering heartfelt thanks to Simon for his unwavering commitment over the last nine years. His impact has been profound, and we wish him all the best for his upcoming retirement."

Patricia Cobian said: "I am excited to join BT at such a critical point in the company's transformation, and I look forward to working with Allison, Adam and the Board to continue to drive growth and value for BT's customers, shareholders and the UK."

There are no additional matters that would require disclosure in respect of Patricia Cobian or pursuant to 9.6.13R of the Listing Rules of the UK Financial Conduct Authority.

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About Patricia Cobian

Patricia Cobian brings deep experience from a distinguished career across the UK and European telecoms sector. She played a key role in the 2020 merger of Virgin Media and O2 and has served as CFO of Virgin Media O2 since its launch in June 2021.

Previously, Patricia was CFO of O2 UK from 2016 and served on the Supervisory Board of Telefónica Deutschland from 2012 to 2020, where she led multiple M&A transactions and strategic partnerships.

Earlier in her career, she spent seven years at McKinsey & Company across London, New York and Madrid, focusing on TMT and corporate finance. She joined O2 in 2006, holding senior roles in European Strategy, Business Development and as Chief of Staff, before being appointed Strategy and Transformation Director and joining the O2 UK Executive Committee in 2014.

Patricia holds an MSc in Industrial Engineering from ICAI - Comillas Pontifical University. She is married with three teenage children.

Enquiries

Press office:                    Jackie Bates Email: media@bt.com Tel: 07496 691 845

Investor relations:      Nick Delfas Email: ir@bt.com Tel: 0800 389 4909