Royal KPN N.V.

Investor Presentation • Dec 14, 2021

KPN ESG Webinar 2021

14 December 2021

Highlights

• ESG fully embedded in strategy and organization
• Continuously recognized by leading ESG benchmarks
• Enabling sustainability through connectivity
• Sustainable investments drive Dutch digitalization
• Strong progress & ambitious targets on reducing carbon footprint
• Integrated sustainability into core financing instruments

Strategic Framework: connect the Netherlands to a sustainable future

ESG fully embedded in strategy and organization

17 UN Sustainable Development Goals (SDGs)

Organizational alignment: ESG integral part of management remuneration

ESG integral part of management remuneration

• 30% STI based on NPS and Employee Engagement (15% each)
• 30% LTI based on Reputation and Circularity (15% each)

ESG themes defined and approved by Board of Management, including ambitions

Responsible for overall reporting, approach and cohesion

Dedicated cross functional teams, assigned by BoM on topics like innovation, energy sustainability and diversity & inclusion

ESG milestones and ambitions: aiming for net zero emissions by 2040

Enhancing impact through collaboration and standardization

Well ranked in most important sustainability ratings

Telco MSCI ratings:
KPN	AAA
Tele2	AAA
Telia	AAA
Telenor	AAA
BT	AA
Elisa	AA
Orange	AA
Swisscom	AA
Telefónica Deutschland	AA
Vodafone	AA
Cellnex	A
Inwit	A
Telefónica	A
Deutsche Telekom	BBB
OTE	BBB
Proximus	BBB
Telecom Italia	BBB
United Internet	BBB
Liberty Global	BB

10 years in a row

Innovation focus: enabling sustainability through connectivity

Leverage and expand

superior network

Safeguard privacy & security and foster innovation

Expand superior network: covering the Netherlands through fiber

KPN footprint Glaspoort footprint

Exponential data growth over the years

Leader in digitalization of the Netherlands; fiber rollout accelerated

• Fiber is fast, reliable and sustainable
• Rolling out fiber creates opportunity to phase out significantly less energy efficient legacy infrastructure
• Network supports reduction greenhouse gas emissions as fiber allows people to travel less
• 3.1m homes passed per Q3 2021

Secured contracting capacity

Scaling up roll out to ~10k per week

Aiming to reach ~80% FttH coverage by 2026 together with Glaspoort (JV with APG)

Best mobile network and fastest 5G in the Netherlands

Best mobile network Highest download speed Highest upload speed Best coverage Fastest 5G

Supporting businesses and Dutch society towards cyber resilience

Joining forces with Europol, FBI, Public prosecution service and police

Educating governmental bodies, companies and students to make the Netherlands more cyber resilient

Part of Tech against COVID-19; protecting governments, aid workers, care providers and hospitals

Largest Security provider in the Netherlands

Bringing innovation closer to the business

Home Office

Hybrid working package offers same secure digital working experience at home as in the office to employer and employee

PIM TAAF

PiM app

App that enables people to provide proof of identity in a simple way, while personal data are optimally protected

Health Exchange

SaaS platform enabling secure data exchange between hospitals and other health institutions

Society focus: provide internet access for everyone and everything

Promote diversity & inclusion

Connecting the Netherlands

Promote diversity & inclusion

Gender Diversity

• Achieved: Board of Management and Supervisory Board currently consist of 1/3 female members
• Ambition: >30% women at and above scale 12 by 2023

Inclusion included in purpose: We go all out to connect everyone to a sustainable future

We do this with a diverse workforce where people are allowed to be themselves and where we embrace differences

Diversity Award

For KPN's long-term commitment to LGBTQIA+ community

Cultural Diversity

• KPN joined Agora Network, Dutch non-profit foundation promoting cultural diversity
• Internal network Kleurrijk KPN

Digital inclusion & accessibility

• Connecting lonely people (KPN Mooiste Contact Fonds)
• Connecting chronically ill children (KPN Klasgenoot)

15 ESG Webinar 2021

At the heart of society: connecting the Netherlands

KPN KlasseContact project

Connecting chronically ill children KPN Klasgenoot

Arts & Culture

• Rijksmuseum
• Royal Concertgebouw
• Depot Boijmans van Beuningen

Environmental focus: connecting the Netherlands to a sustainable future

Advance circularity

Reduce energy consumption & carbon footprint

How we do business: committed to a circular economy

Supplier engagement and external benchmarking

• JAC (supplier risk mitigation)
• Ecovadis Scorecard

Recycling

• New recycling technologies
• Optimize reporting on waste
• Standardization
• Facilitate disassembly

Collection

Collaborating with:

• Customers/end-users
• Suppliers/partners
• Government bodies

Consumption

Create recycling awareness with:

• Customers/end-users
• Suppliers/partners
• Government bodies

Code of Conduct

• Suppliers need to comply with KPN Code of Conduct or have own equivalent

Design

• Recycled plastic covers
• Smaller design
• Low carbon
• Use handling disposal

Production

• Reducing sourcing risk
• Renewable raw materials
• Product lifecycle analysis
• Efficient carbon/energy/waste

Distribution

Improving logistics

• Review line-haul from China
• Use local transport

Example product circularity report: Fairphone 3

73% materials used in Fairphone 3 can be recycled

54%copper used comes from a recycled source

Materiality Circularity Score: 50 %

Fairphone 3 designed for disassembly, considering refurbish program and high levels of product reuse and component recovery

Fairphone consciously chooses to source Fairtrade Certified Gold to actively improve highly polluting and dangerous conditions under which it is mined. Sourcing from wellestablished recycled gold market would save 1.24kg CO2e per unit

Moving to 100% recycled polycarbonate yields another carbon footprint reduction of 0.1kg CO2e per unit

Where do we go from here?

Energy consumption decreasing, data traffic increasing exponentially

Data usage increased 21-fold while energy consumption reduced 37% in 2020 compared to 2010

Contributors to further energy savings:

• Network modernization and simplification
• Copper switch off

Data communication growth (%) compared to base year 2010

• Network functions virtualization
• Office space reduction
• Fleet transformation program

Carbon footprint

Scope 1 – Direct emissions

• Gross emissions, relating to fuel consumption car fleet and heating buildings

Scope 2 – Indirect emissions

• Location based emissions, relating to usage of electricity of fixed and mobile network, offices and shops

Scope 3 – Emissions in value chain

• Emissions during production phase (upstream)
• Emissions during use phase (downstream)

Savings by ICT

• Carbon emissions avoided through KPN customers using ICT solutions

Key drivers to lower emissions (scope 1 & 2)

Scope 2 emissions (in kTon)

. Scope 1 & 2 emissions <25% KPN total emissions

Climate-neutral for own operations since 2015

Target

• Non-fossil fuel car fleet without compensation in 2030 (scope 1)
• Long-term target to maintain yearly zero emissions until at least 2050 for own operations (scope 1 & 2)

How?

• Updated HR policy regarding car fleet
• Convert fleet to electric
• Prepare business cases for offices, retail, technical buildings
• Energy innovation lab
• Active participation in consortium of 10 Dutch companies accelerating energy transition

Key drivers to lower emissions (scope 3)

Roadmap scope 3 reduction (in kTon)

. Scope 3 emissions ~75% KPN's total emissions

Target

Reduce absolute scope 3 emissions by 20% by 2025, 30% by 2030 and 50% by 2040 against a 2014 baseline

How?

• Engaging with suppliers in value chain
• Selecting vendors based on sustainability criteria
• Reducing impact of materials via circular economy principles
• Introducing energy savings features using in-home equipment
• Reviewing international and local transport modes
• Engaging with key suppliers in collaboration with other telecom members of JAC

CSR & Financing

25 ESG Webinar 2021

Content

1. The world around us

6. CSR & Financing

1. Summary 8. Appendix

2. Environmental focus (SDG 12)

3. Innovation focus (SDG 9) 5. Society focus (SDG 11)

4. KPN's Strategy & Sustainability Approach

Integrated sustainability into core financing instruments

Sustainability-Linked Revolving Credit facility

Aug 2021, issue € 1bn revolving credit

Targets (SPTs)

• Accelerating digitalization of the Netherlands by rolling out fiber
• Reduce KPN's energy consumption
• Reduce carbon emissions in supply chain

Penalty if targets are not met

Coupon step-up(s), coupon stepdown(s) and/or a higher repayment amount

Sustainability-Linked Finance Framework

• Nov 2021, issue € 700m SLB
• Coupon 0.875% p.a., maturity 2033

Targets (SPTs)

Reduction absolute scope 3 emissions by 30% by 20301

KPN's Sustainability-Linked Finance Framework aligned with

Sustainability Linked Loan Principles

Decarbonization targets externally validated by

Second Party Opinion by

Penalty if target is not met

Coupon step-up

Key messages

• ESG fully embedded in strategy and organization
• Continuously recognized by leading ESG benchmarks
• Enabling sustainability through connectivity
• Sustainable investments drive Dutch digitalization
• Strong progress & ambitious targets on reducing carbon footprint
• Integrated sustainability into core financing instruments

Safe harbor

Alternativeperformancemeasuresandmanagementestimates

This financial report contains a number of alternative performance measures (non-GAAP figures) to provide readers with additional financial information that is regularly reviewed by management, such as EBITDA and Free Cash Flow ('FCF'). These non-GAAP figures should not be viewed as a substitute for KPN's GAAP figures and are not uniformly defined by all companies including KPN's peers. Numerical reconciliations are included in KPN's quarterly factsheets and in the Integrated Annual Report 2020. KPN's management considers these non-GAAP figures, combined with GAAP performance measures and in conjunction with each other, most appropriate to measure the performance of the Group and its segments. The non-GAAP figures are used by management for planning, reporting (internal and external) and incentive purposes. KPN's main alternative performance measures are listed below. The figures shown in this financial report are based on continuing operations and were rounded in accordance with standard business principles. As ^a result, totals indicated may not be equal to the precise sum of the individual figures.

Financial information is based on KPN's interpretation of IFRS as adopted by the European Union as disclosed in the Integrated Annual Report 2020 and do not take into account the impact of future IFRS standards or interpretations. Note that certain definitions used by KPN in this report deviate from the literal definition thereof and should not be considered in isolation or as a substitute for analyses of the results as reported under IFRS as adopted by the European Union. KPN defines revenues as the total of revenues and other income. Adjusted revenues are derived from revenues (including other income) and are adjusted for the impact of incidentals. KPN defines EBITDA as operating result before depreciation (including impairments) of PP&E and amortization (including impairments) of intangible assets. Adjusted EBITDA after leases ('adjusted EBITDA AL') is derived from EBITDA and is adjusted for the impact of restructuring costs and incidentals ('adjusted') and for lease costs, including depreciation of right-of-use assets and interest on lease liabilities ('after leases' or 'AL'). KPN defines Gross Debt as the nominal value of interest-bearing financial liabilities representing the net repayment obligations in Euro, excluding derivatives, related collateral, and leases, taking into account 50% of the nominal value of the hybrid capital instruments. In its Leverage Ratio, KPN defines Net Debt as Gross Debt less net cash and short-term investments, divided by 12 month rolling adjusted EBITDA AL excluding major changes in the composition of the Group (acquisitions and disposals). The Lease adjusted leverage ratio is calculated as Net Debt including lease liabilities divided by 12 month rolling adjusted EBITDA excluding major changes in the composition of the Group (acquisitions and disposals). Operational Free Cash Flow is defined as adjusted EBITDA AL minus capital expenditures ('Capex') being expenditures on PP&E and software. Free Cash Flow ('FCF') is defined as cash flow from continuing operating activities plus proceeds from real estate, minus Capex. Return on capital employed ('ROCE') is calculated by the net operating profit less adjustments for taxes ('NOPLAT') divided by capital employed, on a 4-quarter rolling basis. Net operating profit is the adjusted EBITA (excluding incidentals and amortization of other intangibles and including restructuring costs). KPN defines capital employed as the carrying amount of operating assets and liabilities, which excludes goodwill and the other intangibles. All market share information in this financial report is based on management estimates based on externally available information, unless indicated otherwise. For a full overview on KPN's non-financial information, reference is made to KPN's quarterly factsheets available on ir.kpn.com.

Forward-lookingstatements

Certain statements contained in this financial report constitute forward-looking statements. These statements may include, without limitation, statements concerning future results of operations, the impact of regulatory initiatives on KPN's operations, KPN's and its joint ventures' share of new and existing markets, general industry and macro-economic trends and KPN's performance relative thereto and statements preceded by, followed by or including the words "believes", "expects", "anticipates", "will", "may", "could", "should", "intends", "estimate", "plan", "goal", "target", "aim" or similar expressions. These forward-looking statements rely on a number of assumptions concerning future events and are subject to uncertainties and other factors, many of which are outside KPN's control that could cause actual results to differ materially from such statements. ^A number of these factors are described (not exhaustively) in the Integrated Annual Report 2020. All forward-looking statements and ambitions stated in this financial report that refer to ^a growth or decline, refer to such growth or decline relative to the situation per ³¹ December 2020, unlessstated otherwise.

Thank you