History

1984 1991 1999 2000 2006 2007 2009 2010 2011 2012 2013 2014

Incorporated as Racal Strategic Radio Limited

Demerger from Racal and full listing on the LSE

Merger with AirTouchCommunications, formation of Verizon Wireless (Vodafone held a 45% stake)

Acquisition of Mannesmann AG, acquiring further businesses in Europe

Acquisition of Telsim(now Vodafone Turkey)

Disposal of Vodafone Japan

Acquisition of controlling stake in Vodafone Essar (now Vodafone India)

Vodacom Group became a subsidiary

Vodafone Australia merged withHutchinson 3G Australia

Disposal of interest in China Mobile

Sale of interest in SFR in France

Acquisition ofCable and Wireless Worldwide in UK

Acquisition of TelstraClear in New Zealand

Acquisition of Kabel Deutschland in Germany

Sale of 45% interest in Verizon Wireless in USA

Acquisition of Ono in Spain

Ownership of Vodafone India & Italy increased to 100%

Acquisition of Hellas Online in Greece

Acquisition of Cobra Automotive in Italy

Vodafone Group Plc is one of the world's largest telecommunications companies providing a wide range of services including voice, messaging, data, fixed broadband and TV. We have 470 million mobile customers, 14 million fixed broadband customers, 9.8 million TV customers and employ around 108,000 people. We have mobile operations in 26 countries, partner with mobile network providers in over 50 more and have fixed operations in 17 countries. The Group’s operations are split into two geographic regions – Europe and Africa, Middle East and Asia Pacific (AMAP).

Gerard KleisterleeChairmanAppointed July 2011 He retired as President/CEO and Chairman of Philips on 31 March 2011 after spending three decades with the company. He is also a Board member of Daimler AG, Royal Dutch Shell and Dell Inc.

Vittorio ColaoChief Executive Officer Appointed July 2008 He joined Vodafone in 1996 and served as CEO Italy and then regional CEO before joining the Board in 2002. He left Vodafone in 2004 for RCS MediaGroup before re-joining the Board in October 2006 as CEO, Europe and Deputy CEO.

Nick ReadChief Financial OfficerAppointed April 2014He joined Vodafone in 2001 and has held a variety of roles including CFO, CCO and CEO of Vodafone UK. Before becoming Group CFO, he was the regional CEO for our AMAP region and a Board member of our listed companies Vodacom Group, Safaricomand Vodafone Qatar.

Non-executive board members:

© Vodafone Group 2016

Long term credit ratings:Moody’s Baa1 Fitch BBB+ Standard & Poor’s BBB+

1

Net debt of €40.7bn at 30 September 2016The Group has a range of debt instruments including bonds, commercial paper and bank loans. The currency profile of the Group’s debt is broadly in line with the value of the Group’s underlying assets.

Long term credit ratings:

Revenue (€bn)

Other revenue (€bn)

EDITDA (€bn)

Adjusted operating profit (€bn)

Service revenue (€bn)*

Capital expenditure (€bn)

Free cash flow (€bn)

53.9

4.8

15.2

4.5

49.1

11.9

1.5

FY 14/15

55.9

5.2

15.8

4.3

50.7

11.7

1.3

Dividend per share (€ cents) N/A** 14.48

FY 15/16

*Revenue principally derived from the provision of voice, SMS and data services** Euro equivalent not available

Executive committee:

Group service revenue FY 15/16

Consumer contract

Consumer prepaid

Other

27%

28%

6%

39%

Enterprise

Group service revenue

Mobileout-of-bundle

Mobile incoming

Fixed

Other

25%

6%

21%

5%

43%

Mobile in-bundleFY 15/16

Group EBITDA FY 15/16

22% 22%

13%

13%11%

11%

8%

Germany

Vodacom

ItalyUK

India

Spain

Other

Group service revenue FY 15/16

19%16%

9%

12%

10% 9%

25%

Spain

Other

GermanyUK

Italy

Vodacom

India

Key financials

Share details

Our people

VodafoneGroup PlcInvestorFactsheet

24%in top management roles

women

108kemployees...

130countries

... from over

Note: Past performance cannot be relied on as a guide to future performance.

Vodafone share price vs. DJ Global Telcos (pence) 30 September 2011 to 30 September 2016

Listing

Ticker

Types

Market Cap

Diluted shares*

London, NASDAQ

VOD:LN, VOD:AR

Ordinary, ADR

Approx. £59bn as of 30 Sep 2016

26,819 million

treasury shares and dilution from the Mandatory Convertible Bonds issued in February 2016. Includes shares from employee options and share awards representing 205 million shares at 30 September 2016.

140

160

180

200

240

220

260

280

Vodafone

DJ Global Telcos, rebased to Vodafone

Sep 2011 Sep 2012 Sep 2013 Sep 2016Sep 2014 Sep 2015

Our markets

2

As a result our strategy will focus on…

Data FixedDemand for data is rapidly accelerating in our Europeanmarkets & our fast growing emerging markets. We are focused on providing the bestdata experience, outstandingcustomer service and a rangeof worry-free price plans and additional services.

More and more businesses and

communications – converged

and we are adapting to meet these demands.

EnterpriseWe want to become the leading communications provider for businesses across the world, large or small. We provide a range of services including

that are easy to use, worry-free and cost-effective.

Each of which is accelerated by our three key programmes …

We expect these trends to shape our industry…

Growing importanceof data and other newrevenue areas

Increasing demand forunified communications

Strong demand fromemerging markets

High levelof competition

Improving business environment in Europe

Supported by…

An excellent network experiencemodel and operations

mobile, fixed, IoT, Cloud & Hosting

Project Spring

Invested £19bn in mobileand fixed networks, products,services and our retail platform.Completed in March 2016.

Customer eXperienceeXcellence

Building differentiation by improving our customer service and experience to be best in class.

Fit for Growth

Supporting our revenue growth and improving our efficiency and agility, delivering improved returns.

Registered and Head OfficeVodafone HouseThe ConnectionNewburyBerkshireRG14 2FNEnglandRegistered in England No. 1833679

Contact detailsInvestor Relations:Tel: +44 (0) 7919 990 230 Email: ir@vodafone.co.uk

General enquiries:UK switchboard +44 (0)1635 33251

DisclaimerInformation in the factsheet relating to the price at which shares have been bought or sold in the past, or dividends paid, cannot be relied upon as a guide to future performance. This factsheet does not constitute an offering of securities orotherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire or dispose of securities in any company within the Group.

This document contains forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995 which are subject to risks and uncertainties because they relate to future events. These forward-looking statements include, among others, the guidance we have provided in relation to EBITDA and free cash flow and expectations related to Project Spring. Some of the factors which may cause actual results to differ from these forward-looking statements can be found by referring to the information contained under the headings “Risk management” and “Additional Information – Forward-looking statements” in the Group’s Annual Report for the year ended 31 March 2016 which can be found on the Group’s website (vodafone.com/investor).

We do not have any obligation to update these forward-looking statements and, subject to compliance with applicable law, do not intend to do so. The factsheet also contains non-GAAP financial information which the Group’smanagement believes is valuable in understanding the performance of the Group or the Group’s businesses. However, non-GAAP information is not uniformly defined by all companies and therefore it may not be comparablewith similarly titled measures disclosed by other companies, including those in the Group’s industry. Although these measures are important in the assessment and management of the business, they should not be viewed inisolation or as replacements for, but rather as complementary to, the comparable GAAP measures.

Vodafone, the Vodafone Speechmark, the Vodafone Portrait and Vodacom are trademarks of the Vodafone Group. The Vodafone Rhombus is a registered design of the Vodafone Group. Other product and company names mentioned herein may be the trademarks of their respective owners.

Corporate brokers

Q3 results2 February 2017

Year end results16 May 2017

Interim dividend payment date3 February 2017

Q1 results21 July 2017

Auditors

2

20 subsidiaries: Albania, Czech Republic, Germany, Greece, Hungary, Ireland, Italy, Malta, Netherlands, Portugal, Romania, Spain, Turkey, UK, Egypt, Ghana, India, New Zealand, Qatar, and Vodacom Group

2 joint ventures: Australia and Indus Towers1 associate: SafaricomOver 50 partner markets extending our reach beyondequity investments

UK (100% ownership) €8.4bn revenue, €1.8bn EBITDA

Customers: 18.0m mobile (68% contract),0.2m fixed broadband

Market share: 23%

1

1

2

3

1

2

1

2

2

1

2

1

Germany (100% ownership)

€10.6bn revenue, €3.5bn EBITDA

Customers: 30.5m mobile (54% contract),6.0m fixed broadband, 7.8m TV

Market share: 33%

Italy (100% ownership)€6.0bn revenue, €2.0bn EBITDA

Customers: 23.5m mobile (19% contract),2.0m fixed broadband

Market share: 32%

India (100% ownership)€6.2bn revenue, €1.8bn EBITDA

Customers: 200.7m mobile (8% contract)

Market share: 22%

Vodacom Group (65% ownership)

€5.3bn revenue, €2.0bn EBITDA

Customers: 73.1m mobile (7% contract)

Market share: 52% (South Africa)

Subsidiaries (largest highlighted)Joint ventures / AssociatesPartner Markets

Spain (100% ownership) €5.0bn revenue, €1.3bn EBITDA

Customers: 14.5m mobile (79% contract),3.1m fixed broadband, 1.2m TV

Market share: 20%

Investor calendar

Advisors

Assumptions

Guidance - For the year ended 31 March 2017

Assumes FX rates of €1:£0.79, €1:INR 76.4, €1:ZAR 16.5, €1:TRY 3.2, €1:EGP 9.8. Guidance excludes the impact of licence and spectrum payments, material one-off tax-related payments, restructuring costs, and any fundamental structural change to the Eurozone. It also assumes no material change to the current structure of the Group, and has not been adjusted for the potential de-consolidation of Vodafone Netherlands following the announced intention to create a 50:50 Joint Venture with Ziggo.

EBITDA: 3 - 6%€15.7bn - €16.1bn

Free cash flow: at least €4.0bn afterall capex, before M&A, spectrum and restructuring costs

ReferencesVodafone data correct as of 31 March 2016 unless otherwise stated.See www.vodafone.com/content/index/investors/glossary for a glossary of key terms.

Vodafone estimates for the quarter ending 30 June 2016 based on mobile service revenue.Vodafone estimates for the quarter ending 30 June 2016 based on total communications service revenue.

2Data correct as of 30 September 2016.1

3

Over half of Group revenue, EBITDA and free cash flow is nowgenerated in euros. To align our reporting for the year ending31 March 2017 we have moved to reporting on a euro basis

Move to Euro reporting

Dividend: intention to grow dividend per share annually in euros from a base of 14.48 euro cents in FY 15/16