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Other transactions that had no effect on the composition of the Group

Deutsche Telekom AG’s shareholder remuneration

The Board of Management of Deutsche Telekom AG proposes to the shareholders’ meeting a dividend for the 2023 financial year of EUR 0.77 per dividend-bearing share. On November 2, 2023, the Board of Management additionally announced plans to buy back Deutsche Telekom AG shares up to a total purchase price of EUR 2 billion in the 2024 financial year as part of a share buy-back program. The buy-back commenced on January 3, 2024 and will be carried out in several tranches through December 31, 2024. The purpose of the share buy-back is to recoup part of the dilution effect from Deutsche Telekom AG’s 2021 capital increase. The repurchased shares will therefore be canceled.

In the period from January 3, 2024 to February 13, 2024, Deutsche Telekom AG bought back around 9 million shares with a total volume of EUR 0.2 billion under the share buy-back program.

End of T‑Mobile US’ share buy-back program from September 2022

In the period from January 1, 2023 to September 30, 2023, T‑Mobile US bought back around 77.5 million additional shares with a total volume of USD 11.0 billion (EUR 10.3 billion) under the share buy-back program announced on September 8, 2022. This puts the total number of shares that have been repurchased since the program’s inception in September 2022 at around 98.8 million at a price of USD 14.0 billion (EUR 13.2 billion). The budget for the share buy-back program was therefore fully exhausted by the end of September 2023.

T‑Mobile US’ shareholder return program from September 2023

On September 6, 2023, T‑Mobile US announced that its Board of Directors has authorized a shareholder return program of up to USD 19 billion that will run from October 1, 2023 through December 31, 2024. The program comprises additional share buy-backs and dividends to be paid out. The amount available for share buy-backs will be reduced by the amount of any dividends approved by the Board of Directors of T‑Mobile US.

On September 25, 2023, the T‑Mobile US Board of Directors declared an initial cash dividend of USD 0.65 per share, which was paid out on December 15, 2023 to the shareholders registered as of close of business on December 1, 2023. EUR 0.4 billion of the cash dividend was attributable to Deutsche Telekom’s stake and EUR 0.3 billion to non-controlling interests in T‑Mobile US. In the 2023 financial year, T‑Mobile US bought back 15.5 million shares with a total volume of USD 2.2 billion (EUR 2.0 billion) under its share buy-back program.

On January 24, 2024, the T‑Mobile US Board of Directors declared a further cash dividend of USD 0.65 per share, which will be paid out on March 14, 2024 to the shareholders registered as of close of business on March 1, 2024. Furthermore, in the period from January 1, 2024 to January 31, 2024, T‑Mobile US bought back a further 9 million shares with a total volume of USD 1.5 billion (around EUR 1.4 billion) under its share buy-back program.

For further information on the overview of dividend payments attributable to non-controlling interests in T‑Mobile US, please refer to Note 19 “Shareholders’ equity.”

Transfer of T‑Mobile US shares to SoftBank

On December 28, 2023, in accordance with the supplementary agreement from February 20, 2020 (Letter Agreement) closed between T‑Mobile US, SoftBank, and Deutsche Telekom in the course of the merger of T‑Mobile US and Sprint, T‑Mobile US issued 48,751,557 shares of common stock in T‑Mobile US to SoftBank. The condition of the Letter Agreement that the volume-weighted price of T‑Mobile US shares reach or exceed USD 149.35 (after adjusting for the first cash dividend by T‑Mobile US) for 45 days was satisfied on December 22, 2023. The shares were issued from the treasury shares held by T‑Mobile US. As a result, Deutsche Telekom’s stake in T‑Mobile US declined and amounted to 47.9 % as of December 31, 2023. Taking the treasury shares held by T‑Mobile US into account, Deutsche Telekom’s ownership stake in T‑Mobile US stood at 50.6 % as of December 31, 2023. The shares issued to SoftBank are subject to the proxy agreement between SoftBank and Deutsche Telekom. The percentage of T‑Mobile US shares for which Deutsche Telekom can exercise voting rights, based on the agreement concluded with SoftBank in connection with the acquisition of Sprint, amounted to 58.0 % as of December 31, 2023.

Sale of T‑Mobile US shares by Deutsche Telekom

In early 2024, Deutsche Telekom began selling a portion of its T‑Mobile US share portfolio on the market, without jeopardizing its own majority ownership position in T‑Mobile US. In the period from January 2, 2024 to February 13, 2024, Deutsche Telekom sold around 5 million T‑Mobile US shares with a total volume of EUR 0.9 billion.