Consistently delivering against our strategic priorities in competitive markets

-  Record FTTP build of 4.8m premises passed in the year, achieving the accelerated target set last year, the fastest build in Europe; FTTP footprint at 23m premises, more than two thirds of all UK premises, of which 6.3m in rural locations; on track to reach our target of 25m by December 2026

-  Record customer demand for Openreach FTTP with 2.2m net adds in the year; total premises connected total 8.8m, bringing our market-leading take-up rate amongst all major fibre providers to over 38%; Openreach broadband ARPU in the year grew by 4% to £16.7, driven by higher FTTP take-up, speed mix and price increases

-  Openreach broadband line losses were 203k in Q4, giving full year losses of 825k, slightly better than our c. 850k guidance, supported by our expanded and accelerated build; we expect losses of c. 800k in FY27                                

-  EE remains the UK's best mobile network, evidenced by independent industry assessments, including Umlaut, Opensignal and RootMetrics; 5G+ population coverage increased to 73% from 43% last year

-  Retail FTTP base grew by 31% year-on-year to 4.5m, of which Consumer 4.2m and Business 0.3m; 5G base reached 14.5m, up 10% year-on-year; BT brand reintroduced with new products across Consumer and Business segments during May 2026

-  Consumer customer base growth up 26k in broadband, 104k in postpaid mobile and 72k in TV, with stable to falling churn

-  Consumer ARPU down 1% to £41.7 in broadband and down 1% to £19.3 in postpaid mobile year-on-year in a competitive market; Consumer fixed and mobile convergence¹ increased to 26.6% from 24.6% last year

-  Business achieved significant new connectivity & security wins including BAE Systems, NIE Networks and easyJet, and is partnering with Nscale to deliver sovereign AI data centres in the UK

-  International refocused following completion of five planned divestments with ongoing rationalisation of footprint, products, overseas network and IT estate

-  Transformation delivering ahead of plan, realising cost savings while improving customer journeys; £580m gross annualised cost savings achieved during FY26 at a cost to achieve of £336m, taking total savings over two years to £1.5bn at costs of £0.8bn; we realised year-on-year reductions in energy usage in our networks of 6%, in total labour resource of 7% to 108k and in Openreach repair volumes of 18%

-  Overall transformation plan target raised to £3.7bn from £3.0bn and extending the programme by one year to FY30, at a cost to achieve of £1.4bn from £1.0bn

-  Record BT Group NPS of 33.4, up 4.1pts year-on-year; customer satisfaction up across all brands

1  See Glossary on page 11

Solid financial performance against outlook, dividend raised; reiterating NFCF¹ to increase to £2bn in FY27 and £3bn by FY30

-  Reported revenue £19.7bn down 3% and adjusted¹ revenue £19.6bn, down 4%, driven by lower International revenue including divestments, declines in handset trading and declines in adjusted UK service revenue

-  Adjusted UK service revenue¹ £15.4bn, down 1%, mainly driven by lower voice volumes in Business and Consumer, offset by CPI-linked price increases and an improved broadband FTTP mix in Openreach

-  Adjusted¹ EBITDA £8.2bn, flat year-on-year, with lower revenue offset by strong cost transformation and cost control; excluding divestments, like-for-like adjusted EBITDA was up 1%

-  Reported profit before tax £1.4bn, up 8%, with the increase primarily driven by lower specific items, lower depreciation and amortisation, offset by a higher finance expense

-  Capital expenditure¹ £5.1bn, up 6%, reflecting higher FTTP provisioning and build activity

-  Net cash inflow from operating activities £7.0bn, up 1%; normalised free cash flow¹ £1.5bn, down 6% due to higher cash capital expenditure, interest costs, the absence of a prior year tax refund and working capital movements, partly offset by working capital programmes

-  Net debt £20.0bn (31 March 2025: £19.8bn), broadly stable year‑on‑year

-  Gross IAS 19 pension deficit of £4.2bn, an increase from £4.1bn at 31 March 2025, reflecting updated views on mortality and inflation, and lower asset returns than expected, partly offset by scheduled contributions

-  Final dividend of 5.87 pence per share (pps) up 2% from 5.76pps, bringing the full year dividend to 8.32pps

-  Updated dividend policy to grow the dividend by low to mid single digit percent per annum in FY27 and onwards until metrics consistent with a BBB+ credit rating are reached; thereafter residual cash flow will be available for enhanced distributions to shareholders

-  FY27 outlook: Adjusted¹ revenue £19.0-19.5bn, adjusted UK service revenue¹ of £15.1-£15.4bn and adjusted¹ EBITDA growth within the range of £8.2-8.3bn; capital expenditure¹ excluding spectrum c. £4.3bn; normalised free cash flow¹ c. £2.0bn

-  Mid-term guidance: Sustained growth in adjusted¹ revenue and adjusted UK service revenue¹, sustained growth in adjusted¹ EBITDA ahead of UK service revenue, enhanced by cost transformation; capital expenditure¹ excluding spectrum reducing by more than £1bn from the FY26 level; normalised free cash flow¹ of c. £3.0bn by the end of the decade