Royal KPN NV · EURONEXT:KPN
Royal KPN NV — KPN — Merger or Acquisition (March 2021)
13 slides from Royal KPN NV's merger presentation, Mar 23, 2021
Slide 1: Accelerate to grow
(1 0 AEE DOA of the Netherla
Slide 2: Safe harbor
Safe harbor Alternative performancemeasuresand managementestimates This financial report contains a number of alternative performance measures (non-GAAP figures) to provide readers with additional financial information that is regularly reviewed by management, such as EBITDA and Free Cash Flow (FCF)
Slide 3: Enabling ~80% fiber coverage by 2026
Enabling ~80% fiber coverage by 2026 Strengthening strategy as leading fiber operator in the Netherlands JV taking up long tail, on top of KPN's existing plans Further accelerating fiber rollout to medium-dense areas and business parks Crystallizing the value of KPN’s state-of-the-art fiber network
Slide 4: KPN & APG join forces to further accelerate the Dutch digitalization wave
KPN & APG join forces to further accelerate the Dutch digitalization wave e@ * 3 apg ———- ~€ 440m &kpn | 50% Share risk and return 50% Financing institutions . Contractors Committed Joint Secured Capex facility venture construction capacity B2C B2B ~685k homes passed ~ 225k businesses 4 Fiber JV wit
Slide 5: Strong, reliable and mutually reinforcing partner with Dutch heritage
Strong, reliable and mutually reinforcing partner with Dutch heritage apg a good income for today, tomorrow, and beyond Benefits for KPN ~€ 575DN Assets under Management Access to institutional capital infrastructure investor Attractive terms Renowned with ~€ 165bn infra fund Strong Dutch partner Re
Slide 6: Expanding scope to further accelerate fiber rollout
6 Expanding scope to further accelerate fiber rollout 2.8m.- existing F FttH footprint KPN CRY 2020) 2.5M.- Planned FttH rollout KPN (20212025) Fiber JV with APG Scope JV ~685k HP in medium-dense areas ~225k businesses 1, Based on 2021-2025 ambition of ~5OOk HP annually Ambitious plans to rollout fi
Slide 7: JV takes up long tail on top of KPN's existing fiber rollout plans
JV takes up long tail on top of KPN’s existing fiber rollout plans Ambition to cover the Netherlands through fiber ~80% a | 2019 2020 2023 2025 2026 [BB KPN FttH footprint {__| Additional JV footprint 7 Fiber JV with APG Grow service revenues Replace copper network Strengthen customer footprint in l
Slide 8: JV to operate passive infrastructure, KPN anchor tenant at arm's length
JV to operate passive infrastructure, KPN anchor tenant at arm’s length &kpn Joint venture Planning * Services provided at arm's length * Maintenance of passive infrastructure layer * Allows JV to leverage KPN’ rollout * Direct contact with rollout partners know-how 8 Fiber JV with APG “om D commen
Slide 9: Deal structure and financial terms
Deal structure and financial terms * Joint venture with co-controlling structure — APG to pay ~€ 220m (pre-tax) to KPN initially, and — ~€ 220m in annual installments as rollout progresses ¥ apg ~€ 440m & kp n * ~€12bn Capex largely debt financed (70%) on non- recourse basis * KPN's additional equit
Slide 10: Crystallizing the value of fiber
Crystallizing the value of fiber n~€ 880m equity value JV n~€ 970 equity value per line 10 Fiber JV with APG Ambition to cover the Netherlands through fiber milion HP) ~6.5 28 2020 2026 [BB FttH footprint KPN KPN + JV FttH footprint & kpn
Slide 11: Closing remarks & Q&A
Closing remarks & Q&A Strengthening strategy as leading fiber operator in the Netherlands JV taking up long tail, on top of KPN's existing plans Further accelerating fiber rollout to medium-dense areas and business parks Crystallizing the value of KPN’s state-of-the-art fiber network 11 Fiber JV wit
Slide 12: Slide 12
Slide 13: KPN Investor Relations
KPN Investor Relations @ irkpn.com & kpn