IMPACTO DE LA IMPLEMENTACIÓN DE EXPERIENCIAS DE APS EN EL DESARROLLO DE COMPETENCIAS PROFESIONALES DESARROLLO DE COMPETENCIAS PROFESIONALES

Report by the Board of Management

(In millions of EUR,

unless indicated otherwise) 2010 2009 ∆

Netherlands 1,505 1,654 -9.0%

International 487 456 6.8%

Other (incl. eliminations) -32 -13 n.m.

Revenues 1,96 2,97 -6.5%

Other 6 – –

Revenues and other income 1,966 2,97 -6.2%

Operating expenses 1,959 2,187 -10%

– of which: depreciation, amortization and

impairments 151 152 0.7%

EBITDA 158 62 >1%

EBITDA margin 8.% .%

In 2010, Getronics generated revenues and other income of EUR 1,966 million compared to EUR 2,097 million in 2009. This revenue decline occurred primarily in the Netherlands with a decline of 9.0%. International showed a revenue increase of 6.8% including a positive foreign exchange effect of EUR 28 million or 6.3%.

Revenue and other income was negatively impacted by the continuing challenging market conditions with price pressure and customers postponing investments.

Getronics market share remained stable in a highly competitive market.

The sales funnel remains solid and continues to grow.

The sales order intake was still under pressure, but Getronics won a number of important deals in 2010, such as the five-year contract with TNT in the fourth quarter 2010 for delivering and managing Workspace online (a cloud solution) for 13,000 users in the

Netherlands, Belgium and the United Kingdom. In 2010 the Global Workspace Alliance (GWA), continued to contribute to the business of Getronics. Some examples of contract extensions of the GWA are:

1. A German headquartered customer has signed for a Workspace Services in 37 countries for 19,000 users;

2. An international agreement for Future-Ready Workspace (FRW) for 6,000 workspaces in five countries for a European manufacturing company .

In 2010, EBITDA amounted to EUR 158 million compared to EUR 62 million in 2009. EBITDA in 2009 was negatively impacted by a EUR 40 million restructuring charge.

The related cost savings had a positive impact on the result in 2010. Getronics realized its 8% EBITDA margin target.

Operating highlights 2010 2009 ∆

Serviced voice workspaces

(in millions) 0.5 0.6 -17%

Serviced IT workspaces

(in millions) 1.7 1.8 -5.6%

Housing services in m²

(in thousands) 25.0 25.0 –

Hosted servers in # serves

(in thousands) 14.5 12.0 21%

• Realized 8% EBITDA margin target

• Impacted by challenging market conditions

• Market share remained stable

Getronics

Financial and operating review

6 KPN Annual report 2010 (In millions of EUR,

unless indicated otherwise) 2010 2009 ∆

Revenues and other income 912 719 27%

Operating expenses 905 734 23%

– of which: depreciation, amortization and

impairments 25 37 -32%

EBITDA 2 22 45%

EBITDA margin .5% .1%

iBasis’ revenues and other income increased by 27% to EUR 912 million in 2010, including a favorable currency effect of EUR 33 million. Revenues were structurally higher in 2010 as a result of the sustained business focus following the full takeover by KPN in the fourth quarter of 2009, with a focus on balancing revenues with profitability while improving cash flow.

In 2010, iBasis delivered strong growth in terms of number of minutes, while sustaining the growth trend in the average revenue per minute. Furthermore, iBasis

reinforced its position within the top 5 of the international voice traffic market.

EBITDA was EUR 32 million, up 45% due to an increase in premium traffic resulting in a higher average revenue per minute compared to 2009 and to continued savings on overhead costs. iBasis will continue its focus on increasing traffic volumes and revenues, resulting in increased market share.

Operating highlights 2010 2009 ∆

Minutes International

(in billion) 24.1 19.8 22%

Average revenue per minutes

(EUR cents) 3.8 3.6 5.6%

• Balancing revenue growth with profitability and improved cash flows

• Improved revenues per minute

• Structurally higher revenues

iBasis

Report by the Board of Management

(In millions of EUR,

unless indicated otherwise) 2010 2009 ∆

– Service revenues (wireless) 3,092 3,021 2.4%

– Hardware and other revenues 149 160 -6.9%

Revenues and other income ,241 ,181 1.9%

Operating expenses 2,528 2,536 -0.3%

– of which: depreciation, amortization and

impairments 661 688 -3.9%

EBITDA 1,74 1, .1%

EBITDA margin 42.4% 41.9%

Revenues and other income increased EUR 60 million or 1.9%, while service revenues were up 2.4%. Adjusted for the negative impact from regulation (EUR 58 million) and the positive impact from an intercompany transfer of the Multiconnect business (EUR 26 million) from ‘Other’

Segment, service revenues were up 3.5%. Service revenue growth was driven by the re-launch of the simple and transparent ‘Mein BASE’ proposition with positive customer experiences, a strong regional focus and a good performance of wholesale partnerships. With strong postpaid net adds of 301 thousand and 1,139 thousand prepaid net adds, the customer base passed the 20 million customer milestone.

In May 2010, E-Plus acquired 70MHz of additional spectrum in the frequency auctions in Germany for EUR 284 million, suiting the Challenger strategy with largest charge in standard bands, in order to leverage current grid as well as handset eco-system. Commercial high speed mobile data services were successfully launched in nine selected urban areas in Germany in the fourth quarter of 2010. The data propositions are centered around a selection of smart phones including an internet flat fee at attractive pricing, supporting future service revenue growth.

E-Plus was able to increase operational efficiency, resulting in a high EBITDA margin of 42.4% in 2010 leading to a record EBITDA of EUR 1,374 million, up 3.1% compared to 2009.

Operating highlights 2010 2009 ∆

Wireless customers

(in thousands) 20,427 18,987 7.6%

Net adds (in thousands) 1,440 1,210 19%

Total traffic

(minutes in millions) 34,896 31,343 11%

ARPU blended (EUR) 13 14 -7.1%

SAC/SRC blended (EUR) 47 49 -4.1%

• Strong EBITDA margin

• Service revenue growth of 2.4%

• Very strong postpaid net adds

Germany

Financial and operating review

8 KPN Annual report 2010 (In millions of EUR,

unless indicated otherwise) 2010 2009 ∆

– Service revenues (wireless) 684 659 3.8%

– Hardware and other revenues 101 143 -29%

Revenues and other income 785 82 -2.1%

Operating expenses 636 678 -6.2%

– of which: depreciation, amortization and

impairments 122 135 -9,6%

EBITDA 271 259 4.6%

EBITDA margin 4.5% 2.%

Revenues and other income in Belgium were down EUR 17 million (2.1%) compared to 2009, impacted by the divestment of the fixed Business2Business and Carrier Business (EUR 31 million) and severe regulation (EUR 34 million). Service revenues increased 3.8%. Corrected for the impact of regulation, service revenues increased 9.4%

compared to 2009. This is a combined result of a strong regional focus with an increasing number of shops, good performance of the simplified BASE proposition and a good take-up of flat fee data bundles.

Net adds amounted to 150 thousand in 2010, of which 65 thousand net adds postpaid and 85 thousand prepaid net adds, resulting in 3,728 thousand customers by the end of 2010. Following acceleration of the high speed mobile data network roll-out, KPN Group Belgium started offering commercial high speed mobile data services in multiple selected urban areas and relevant hotspots in the fourth quarter of 2010.

EBITDA increased by EUR 12 million or 4.6% compared to 2009, affected by regulation (EUR 23 million). The EBITDA margin in 2010 was strong at 34.5%.

Operating highlights¹ 2010 2009 ∆

Wireless customers

(in thousands) 3,728 3,578 4.2%

Net adds (in thousands) 150 133 13%

Total traffic

(minutes in millions) 5,706 5,117 12%

ARPU blended (EUR) 16 16 –

SAC/SRC blended (EUR) 19 21 -9.5%

1) Relating to Mobile business only

• Severe regulatory impact

• Good underlying service revenue growth

• Strong EBITDA margin

Belgium

Report by the Board of Management

(In millions of EUR,

unless indicated otherwise) 2010 2009 ∆

Revenues and other income 267 206 30%

Operating expenses 294 258 14%

– of which: depreciation, amortization and

impairments 8 13 -38%

EBITDA -19 -9 51%

EBITDA margin -7.1% -18.9%

The revenue and EBITDA developments compared to 2009 reflect the strong growth of KPN Spain, KPN France and revenue inflection at Ortel Mobile which is driven by focused execution following full ownership by KPN.

The low cost business model was further established through focused execution during 2010. This resulted in increased revenues and other income of 30% through customer growth driven by own international brands, while EBITDA went up EUR 20 million through increased sales and efficiency.

Customer growth to approximately 400 thousand customers in Spain is driven by the no-frills KPN brand Simyo with a relatively high postpaid share and local partners. Spain concluded a new, improved contract with its network provider and reinvested the benefits into the market to accelerate growth. Growth in France continued to be strong with approximately 400 thousand customers with Simyo and further fueled by the launch of Ortel in France with more than 1,000 gross adds per day.

Ortel expanded its footprint to France (March 2010) and Spain (November 2010), leveraging the successful business model of Ortel in Belgium, Germany and the Netherlands.

Within the existing footprint, Ortel’s focused execution of the strategy through selective acquisition, promotions and strengthened distribution has significantly increased customer quality and profitability.

In the fourth quarter of 2010, a new international Mobile Virtual Network Enabler (MVNE) platform was launched to shorten the time-to-market at lower cost-to-serve for KPN’s own brands and its wholesale partners.

• Strong growth at low cost

• Ortel expansion to France and Spain

Rest of World

4 KPN Annual report 2010

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