Vodafone Group Plc has granted conditional awards of shares to several individuals, including Margherita Della Valle, Vodafone Group Chief Executive, Luka Mucic, Vodafone Group Chief Financial Officer, Marika Auramo, CEO of Vodafone Business, and Maaike de Bie, Group General Counsel and Company Secretary. The awards are part of the Vodafone Global Incentive Plan and are subject to continued employment with the company and the satisfaction of performance conditions approved by the Remuneration Committee. The shares will vest on 31 July 2027 unless otherwise stated.

The adjusted free cash flow target range for the awards vesting is €7.5bn (threshold) to €9.5bn (maximum), including free cash flow from Vodafone Italy in the financial year 2024/25. The maximum number of shares granted will be reduced if the company achieves less than maximum performance. The details of the relative total shareholder return and ESG targets can be found in the Company's 2024 Annual Report available at vodafone.com/ar2024.

The transactions involved the grant of nil-cost conditional awards of shares under the Global Incentive Plan, based on Group performance. The prices for the shares were GBP 0.7314 per share, with the aggregated volume and price varying for each individual. The transactions took place outside a trading venue on 31 July 2024.

The individuals mentioned in the notification have received a significant number of ordinary shares in Vodafone Group Plc, with the total aggregated price for all transactions amounting to millions of pounds.