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BACKUP Q1 2021

DEUTSCHE TELEKOM

Check out our IR website www.telekom.com/investor-relations for:

• This backup in .pdf and excel-format
• The IR calender
• Detailed information for debt investors
• Shareholder structure
• Corporate governance

For further information on the business units please refer to:

www.telekom.com

www.telekom.de

www.t-mobile.com

www.t-systems.com

Investor Relations, Bonn office

Phone	+49	228	181 - 8 88 80
Fax	+49	228	181 - 8 88 99
E-Mail	[e-mail]

Q1 2021

The mandatory first-time application of the new IFRS 16 "Leases" accounting standarfd as of January 1, 2019 has a material impact on Deutsche Telekom´s consolidated financial statements. The new standard requires payment obligations from existing operating leases to be discounted and recignized as lease liabilities; as financial liabilities, they increase net debt. At the same time the lessee capitalizes a right of use. Operating expenses previously recognized either in depreciation charges for capitalized right-of-use-assets or in interest expenses for discounted obligations from operating leases, as appropriate. This will significantly increase EBITDA without any attendant change in the economic circumstances. In the statement of cash flows, the repayment portion of the lease payments from existing operating leases will reduce net cash from/used in financing activities and no longer affect net cash from operating activities. Interest payments will remain in net cash from operating activities and thus also in free cash flow.

Effective as of Q3/2020 we have integrated the "TC Services" and "Classified ICT Services" (TC part), previously included in the Systems Solutions operating segment, into the operating segment Germany. In addition, the Telekom Global Carrier (TGC) and Network Infrastructure (NWI) units, which were previously reported in the operating segment Europe, respectively the Group Headquarters & Group Services segment were transferred to the operating segment Germany. Comparative figures have been adjusted retrospectively.

Effective as of Q1/2021 we have integrated the Deutsche Telekom IoT GmbH, previously included in the Systems Solutions operating segment, into the operating segment Germany. Comparative figures have been adjusted retrospectively.

The figures shown in this report were rounded in accordance with standard business rounding principles. As a result, the total indicated may not be equal to the precise sum of the individual figures.

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CONTENT					DT
At a Glance	3		GERMANY
	Financials	22
			Operationals & Mobile Communication KPIs	23
			Additional information	24 - 27
DT GROUP
Adjusted for special factors	6
As reported	7
	UNITED STATES
EBITDA Reconciliation	8
	Financials	29
Special Factors in the consolidated income statement	9		Operationals	30 - 31
Consolidated statement of financial position	10 - 11
Provisions for pensions	12
	EUROPE
Maturity profile	13
	Financials	33
Liquidity reserves	14
Net debt	15
	OTHER SEGMENTS
Net debt development	16
	Group Development Financials	35 -37
Cash capex	17		System Solutions Financials	38
Free cash flow	18		GHS Financials	39
Personnel	19
Exchange rates	20
	GLOSSARY	40

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DT GROUP AT A GLANCE

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				Q1		Q2		Q3		Q4		FY	Q1		Change
			2020	2020	2020	2020	2020	2021
		Note		millions of €		millions of €		millions of €		millions of €		millions of €	millions of €	%
REVENUE
Germany				5.830		5.853		5.842		6.264		23.790	5.942		1,9
United States		1		10.157		17.297		16.569		17.184		61.208	16.483		62,3
Europe				2.759		2.706		2.880		2.992		11.335	2.729		(1,1)
Systems Solutions				1.062		1.065		955		1.077		4.159	1.015		(4,4)
Group Development				708		716		719		740		2.883	782		10,5
Group Headquarters & Group Services				634		651		625		646		2.556	625		(1,4)
Reconciliation				(1.207)		(1.247)		(1.197)		(1.281)		(4.932)	(1.186)		1,7
DT GROUP	1	19.943	27.041	26.393	27.622	100.999	26.390	32,3
NET REVENUE
Germany				5.647		5.657		5.658		6.056		23.019	5.797		2,7
United States		1		10.157		17.297		16.568		17.184		61.206	16.483		62,3
Europe				2.711		2.665		2.825		2.937		11.139	2.681		(1,1)
Systems Solutions				840		829		743		824		3.237	798		(5,0)
Group Development				539		547		547		569		2.202	580		7,6
Group Headquarters & Group Services				49		45		51		52		196	51		4,1
DT GROUP	1	19.943	27.041	26.393	27.622	100.999	26.390	32,3
EBITDA (ADJUSTED FOR SPECIAL FACTORS)
Germany				2.239		2.280		2.378		2.336		9.232	2.314		3,3
United States		1		3.867		7.441		7.091		6.724		25.122	6.873		77,7
Europe				1.046		1.058		1.175		1.062		4.341	1.039		(0,7)
Systems Solutions				91		102		102		100		394	89		(2,2)
Group Development				340		353		355		337		1.386	392		15,3
Group Headquarters & Group Services				(11)		62		2		(125)		(73)	(2)		81,8
Reconciliation				(8)		(24)		0		3		(28)	(7)		12,5
DT GROUP		1		7.563		11.271		11.102		10.438		40.374	10.698		41,5
Proportional EBITDA			5.779	6.731	6.716	6.292	25.518	6.458	11,7
EBITDA AL (ADJUSTED FOR SPECIAL FACTORS)
Germany				2.230		2.270		2.364		2.324		9.188	2.305		3,4
United States		1		3.160		6.304		5.994		5.539		20.997	5.706		80,6
Europe				936		952		1.064		958		3.910	946		1,1
Systems Solutions				60		71		77		71		279	62		3,3
Group Development				269		283		284		266		1.101	316		17,5
Group Headquarters & Group Services				(103)		(27)		(90)		(210)		(429)	(84)		18,4
Reconciliation				(8)		(24)		0		4		(28)	(7)		12,5
DT GROUP		1		6.544		9.829		9.692		8.952		35.017	9.245		41,3
Proportional EBITDA AL				5.058		5.961		5.952		5.500		22.471	5.697		12,6

1 As of April 1, 2020, included the first consolidation of the Sprint-Merger.

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DT GROUP

AT A GLANCE II

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				Q1		Q2		Q3		Q4		FY	Q1
			2020	2020	2020	2020	2020	2021
		Note		millions of €		millions of €		millions of €		millions of €		millions of €	millions of €
EBITDA AL MARGIN (ADJUSTED FOR SPECIAL FACTORS)	%
(EBITDA AL / TOTAL REVENUE)
Germany				38,3		38,8		40,5		37,1		38,6	38,8
United States		1		31,1		36,4		36,2		32,2		34,3	34,6
Europe				33,9		35,2		36,9		32,0		34,5	34,7
Systems Solutions				5,6		6,7		8,1		6,6		6,7	6,1
Group Development				38,0		39,5		39,5		35,9		38,2	40,4
Group Headquarters & Group Services				(16,2)		(4,1)		(14,4)		(32,5)		(16,8)	(13,4)
DT GROUP	1	32,8	36,3	36,7	32,4	34,7	35,0
CASH CAPEX
Germany				1.049		915		964		1.263		4.191	860
United States		1		1.708		2.679		2.744		3.263		10.394	10.513
Europe				438		562		431		785		2.216	485
Systems Solutions				25		55		68		86		235	49
Group Development			119	117	330	133	699	115
Group Headquarters & Group Services				230		240		223		297		990	250
Reconciliation				0		(20)		3		(13)		(32)	0
DT GROUP		1,3		3.570		4.547		4.763		5.814		18.694	12.272
- thereof spectrum investment			217	878	273	346	1.714	7.989
NET PROFIT (LOSS)
adjusted for special factors				1.284		1.278		1.509		1.643		5.715	1.201
as reported			916	754	817	1.671	4.158	936
FREE CASH FLOW (BEFORE DIVIDEND PAYMENTS AND
SPECTRUM INVESTMENT)				2.294		3.677		2.897		1.889		10.756	4.072
Proportional free cash flow		4		1.702		2.091		1.789		853		6.435	2.652
FREE CASH FLOW AL (BEFORE DIVIDEND PAYMENTS AND	2
SPECTRUM INVESTMENT)		1.287		2.425		1.634		942		6.288	2.585
Proportional free cash flow AL			978	1.427	1.127	340	3.872	1.853
NET DEBT				77.394		120.897		124.521		120.227		120.227	129.530
NET DEBT w/o Leases				59.698		97.284		92.737		89.556		89.556	98.292

1 As of April 1, 2020, included the first consolidation of the Sprint-Merger.

2 Before interest payments for zero-coupon bonds (€ 1,600 mn) and repayment of interest rate swaps TMUS (€ 2,158 mn) in Q2/2020 3 Amounts of payouts for property, plant and equipment and intangible assets excluding goodwill.

4 Figure Q2/2020 adjusted due to rounding.

Change

%

0,5p

3,5p

0,8p

0,5p

2,4p

2,8p

2,2p

(18,0)

n.a.

10,7

96,0

(3,4)

8,7

n.a.

n.a.

n.a.

(6,5)

2,2

77,5

55,8

n.a.

89,5

67,4

64,6

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CONTENT					DT
At a Glance	3		GERMANY
	Financials	22
			Operationals & Mobile Communication KPIs	23
			Additional information	24 - 27
DT GROUP
Adjusted for special factors	6
As reported	7
	UNITED STATES
EBITDA Reconciliation	8
	Financials	29
Special Factors in the consolidated income statement	9		Operationals	30 - 31
Consolidated statement of financial position	10 - 11
Provisions for pensions	12
	EUROPE
Maturity profile	13
	Financials	33
Liquidity reserves	14
Net debt	15
	OTHER SEGMENTS
Net debt development	16
	Group Development Financials	35 -37
Cash capex	17		System Solutions Financials	38
Free cash flow	18		GHS Financials	39
Personnel	19
Exchange rates	20
	GLOSSARY	40

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