Dear shareholders,

on behalf of the Supervisory Board, I am pleased to present the Remuneration Report for the 2025 financial year to you. As was the case last year, the report will be published as an online report.

In the 2025 financial year, we introduced the revised remuneration system for the Board of Management with retrospective effect from January 1, 2025 and enshrined this system in new Board of Management service contracts. The revision took place in close discussions with investors, proxy advisors, and other stakeholders. You approved this revised remuneration system on April 9, 2025 at the Shareholders’ Meeting, with 95.85 % of votes in favor. I would like to thank you for this demonstration of confidence!

The new system significantly enhances the opportunity/risk profile: In future, it will now be possible to lose all remuneration components with respect to both the Long-Term Incentive as well the Share Matching Plan. At the same time, the Board of Management members will participate more fully in the company’s success in the event of positive performance. As a result, we have aligned the interests of our shareholders and the members of the Board of Management closer than ever before.

The Board of Management members will only receive an attractive remuneration if Deutsche Telekom is also financially successful, the shareholder return sustainably increases, and the ESG and strategy targets are successfully implemented.

I invite you to read this report in order to obtain a comprehensive overview on the remuneration of our Board of Management and Supervisory Board.

Yours sincerely,
Frank Appel