Core Insights - The transaction to create a new open Tower Company named "Althio" has been completed, with operations starting immediately following the necessary approvals [1][2]. Group 1: Strategic Partnership and Objectives - The partnership aligns with KPN's 'Connect, Activate & Grow' strategy, aimed at optimizing the value of passive infrastructure assets and maintaining strategic flexibility [2]. - The establishment of Althio provides KPN with increased flexibility over a significant portion of its mobile sites, facilitating strategic synergies in network infrastructure deployment, maintenance, and optimization [2]. Group 2: Financial Impact and Guidance - KPN, holding a 51% stake in Althio, will fully consolidate the new entity, leading to an updated financial outlook for 2025 [3]. - KPN now anticipates an adjusted EBITDA AL exceeding €2,600 million and Free Cash Flow around €920 million for 2025, while maintaining a service revenue growth outlook of approximately 3% and Capex of about €1.25 billion [3]. - The net debt is projected to increase by up to €300 million, with a minimal pro-forma impact on KPN's leverage ratio, which is expected to remain around 2.5x net debt/EBITDA [3].

Group 1 - KPN has successfully issued a €800 million senior unsecured bond with a 3.375% coupon maturing on 17 February 2035 [1][2] - The proceeds from the bond issuance will be used for general corporate purposes, including refinancing existing debt [2] - The bonds are issued under KPN's Global Medium Term Note programme and will be listed on the regulated market of Euronext Dublin [2] Group 2 - KPN holds a credit rating of BBB with a stable outlook from both S&P and Fitch [2] - The bond placement was facilitated by Barclays, Deutsche Bank, Rabobank, Santander, and SEB acting as Joint Lead Managers [2] - The issuance increases the average maturity of KPN's outstanding bonds and has attracted a broad range of institutional investors [1]

Group 1 - The Netherlands Authority for Consumers and Markets (ACM) has approved the creation of a new tower company (TowerCo) [1] - The approval follows the announcement on June 05, 2024, where KPN and Dutch pension fund ABP signed an agreement to establish the new company [1] - The transaction is expected to close shortly after receiving regulatory clearance, with KPN planning to provide an update on the financial impact of the transaction [1]

Core Viewpoint - The recent share purchases by KPN's Board of Management members reflect their confidence in the company's strategic direction and commitment to its Connect, Activate & Grow strategy launched in November 2023 [1]. Group 1: Share Purchases - Five members of KPN's Board of Management have increased their shareholding by purchasing shares, indicating strong internal confidence in the company's future [1]. - Joost Farwerck, the CEO, purchased 25,000 shares, while other board members, including the CFO, Chief People Officer, Chief B2B, and COO, each purchased 14,000 shares [3]. Group 2: Remuneration Policy - KPN's remuneration policy encourages board members to build share positions equivalent to 250% of the CEO's base salary and 150% of the base salary for other board members within a five-year period [2].

Group 1 - The company reported FY24 Group service revenues increased by 3.4% year-on-year, with organic growth at 3.1% [2] - Adjusted EBITDA AL for FY24 reached €2,508 million, reflecting a 3.6% year-on-year increase, or 3.1% excluding Youfone [2] - Free cash flow (FCF) for FY24 was €900 million [2] Group 2 - In Q4, Group service revenue grew by 2.5% year-on-year, or 2.0% organic, with all segments showing organic growth [2] - Consumer service revenue in Q4 increased by 4.4% year-on-year, or 1.0% organic, supported by strong commercial momentum [2] - The company added 30,000 postpaid and 10,000 broadband customers in Q4 [2] Group 3 - Business service revenue in Q4 grew by 2.5% year-on-year, or 3.1% organic, driven by all divisions [2] - The company continued to lead the Dutch fiber market, expanding its footprint with 574,000 homes passed, marking a record year for home connections [2] Group 4 - The outlook for 2025 includes service revenue growth of approximately 3%, adjusted EBITDA AL of around €2,580 million, capital expenditures of about €1.25 billion, and free cash flow of approximately €910 million [2] - The company plans a 7% increase in dividend per share (DPS) to €0.182, along with a new €250 million share buyback program, returning all free cash flow to shareholders in 2025 [2]