Core Insights - KPN has published its Integrated Annual Report 2024, achieving its targets and making progress towards mid-term strategic and financial ambitions [1] - The company reported a growth of over 3% in operating profit and made significant strides in sustainable digitization, connecting a record number of fiber homes [1] - The report is the first to be prepared in accordance with the CSRD guidelines [1] Annual General Meeting - KPN will hold its Annual General Meeting of Shareholders on April 16, 2025, where the Integrated Annual Report 2024 will be discussed [2] - The agenda for the meeting will be published shortly [2] - The Integrated Annual Report 2024 is available online on KPN's interactive website [2] Formal Disclosures - The report is titled "Sustainably Connected" and was presented by KPN on February 24, 2025 [3] - Matthijs van Leijenhorst is the Head of Investor Relations for Royal KPN N.V. [3] - The report contains inside information [3]

Core Points - KPN's Supervisory Board has nominated Mr. Gerard van de Aast and Ms. Jolande Sap for reappointment, which will be voted on at the Annual General Meeting of Shareholders on April 16, 2025 [1][5] Group 1: Reappointment of Supervisory Board Members - Mr. Gerard van de Aast has been a member of the Supervisory Board since 2021 and has served as its chair since 2022. His stable and clear chairmanship style, along with his commitment to the company, has led to the proposal for his reappointment for a second four-year term [2] - Ms. Jolande Sap has been a member of the Supervisory Board since 2015 and currently chairs the ESG Committee. Her expertise in sustainability has been valuable to KPN, and the board proposes her reappointment for a final two-year term, emphasizing sustainability as a key part of KPN's long-term strategy [3] Group 2: Departure of Supervisory Board Member - Mr. Edzard Overbeek, a member of the Supervisory Board since 2017, will step down at the AGM as his second term expires. The board expresses gratitude for his contributions, particularly in strategic and technological areas during KPN's recent transformation [4]

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]