Budapest – November 4, 2026 – Magyar Telekom (Reuters: MTEL.BU and Bloomberg: MTELEKOM HB, hereinafter: Company), the leading Hungarian telecommunications service provider, today reported its Consolidated financial results for the third quarter and first nine months of 2026, in accordance with IFRS Accounting Standards as endorsed by the EU (hereinafter: quarterly financial report). The quarterly financial report contains unaudited figures for each reporting period.

Financial highlights:

• Group service revenue grew by 5.2% year-on-year in Q3 2026, reflecting continued strong demand for data and broadband services. The inflation-based fee adjustment implemented on July 1, 2026 also supported this growth.
• Total revenue rose by 7.4% year-on-year, as growth in telecommunication service revenue was complemented by a strong increase in IT and equipment sales.
• Gross profit increased by 6.0% year-on-year, supported by higher telecommunication service margins.
• EBITDA AL increased by 6.6% in Q3 2026, reflecting the strong commercial performance.
• Adjusted net income rose by 11.3%, as robust EBITDA growth more than offset higher financial expenses.
• Capex after lease (excluding spectrum licenses) rose by 5.2% year-on-year in Q3 2026, driven by higher network investments, partly offset by the absence of one-off costs related to asset retirement obligations.
• Free cash flow (excluding spectrum licenses) was HUF 146.3 billion in the first nine months of 2026, down 18.7% year-on year, as the positive impact from improved profitability was more than offset by higher working capital requirements, increased capital expenditure and income tax payments, and the absence of proceeds from subsidiary sales.

Tibor Rékasi, Magyar Telekom CEO, commented:

“Our third-quarter performance demonstrates the strength of our networks and the value we deliver to customers through high quality service and compelling offerings. Our subscriber base continued to expand, while the fee adjustment implemented in July further supported ARPU growth. Combined with higher IT revenues, this drove year-on-year revenue growth of 7.4% and EBITDA AL growth of 6.6%.

Building on this momentum, we have initiated a comprehensive transformation of our customer service operations. Our renewed priorities include unlocking new growth opportunities, making service quality a defining competitive advantage, and turning customer insights into relevant, personalized offers delivered at the right moment. By bringing greater agility and efficiency to our operations, we aim to deepen customer relationships and build a more resilient business that can sustain its performance over time.”

This investor news contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore should not have undue reliance placed upon them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors are described in, among other things, our annual financial statements for the year ended December 31, 2025, available on our website at http://www.telekom.hu which have been prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (IASB) and adopted by the European Union.