2 INDEX TO THE CONSOLIDATED ANNUAL REPORT CONSOLIDATED FINANCIAL STATEMENTS ...............................................................................................................................5 INDEPENDENT AUDITOR’S REPORT............................................................................................................................................................... 6 CONSOLIDATED STATEMENT OF FINANCIAL POSITION - ASSETS ...................................................................................................... 7 CONSOLIDATED STATEMENT OF FINANCIAL POSITION – LIABILITIES & EQUITY .......................................................................... 8 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME.................................................... 9 CONSOLIDATED STATEMENT OF CASH FLOWS ...................................................................................................................................... 11 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY........................................................................................................................ 12 NOTES TO THE CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY ....................................................................................... 13 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ................................................................................................................. 15 1 GENERAL INFORMATION......................................................................................................................................................................... 15 2 BASIS OF PREPARATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ........................................................ 17 3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS............................................................................................................ 24 4 FINANCIAL INSTRUMENTS...................................................................................................................................................................... 28 5 FINANCIAL RISK MANAGEMENT ........................................................................................................................................................... 49 6 INCOME TAX ................................................................................................................................................................................................ 60 7 INVENTORIES .............................................................................................................................................................................................. 64 8 ASSETS HELD FOR SALE AND LIABILITIES ASSOCIATED WITH ASSETS HELD FOR SALE ................................................... 65 9 PROPERTY, PLANT AND EQUIPMENT ................................................................................................................................................. 66 10 INTANGIBLE ASSETS .............................................................................................................................................................................. 70 11 INVESTMENTS IN ASSOCIATES AND JOINT ARRANGEMENTS ................................................................................................ 75 12 OTHER ASSETS ......................................................................................................................................................................................... 76 13 PROVISIONS .............................................................................................................................................................................................. 76 14 OTHER CURRENT LIABILITIES.............................................................................................................................................................. 78 15 OTHER NON-CURRENT LIABILITIES................................................................................................................................................... 78 16 NON-CONTROLLING INTERESTS ........................................................................................................................................................ 79 17 LEASES ........................................................................................................................................................................................................ 81 18 REVENUE .................................................................................................................................................................................................... 87 19 DIRECT COSTS.......................................................................................................................................................................................... 91 20 EMPLOYEE-RELATED EXPENSES ....................................................................................................................................................... 92 21 OTHER OPERATING EXPENSES ........................................................................................................................................................... 94 22 OTHER OPERATING INCOME ............................................................................................................................................................... 94 23 INTEREST INCOME .................................................................................................................................................................................. 95 24 INTEREST EXPENSE ................................................................................................................................................................................ 95 25 OTHER FINANCE EXPENSE – NET ...................................................................................................................................................... 95 26 CHANGES IN THE GROUP ..................................................................................................................................................................... 96 27 EARNINGS PER SHARE........................................................................................................................................................................... 97

3 28 PURCHASE OF PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS .............................................................. 97 29 PURCHASE OF SUBSIDIARIES AND BUSINESS UNITS ................................................................................................................. 97 30 CONTINGENT ASSETS AND LIABILITIES ........................................................................................................................................... 98 31 PURCHASE COMMITMENTS ................................................................................................................................................................ 98 32 RELATED-PARTY TRANSACTIONS ..................................................................................................................................................... 99 33 REPORTABLE SEGMENTS AND INFORMATION ABOUT GEOGRAPHICAL AREAS .............................................................101 34 REGULATED MARKETS AND PROCEDURES ..................................................................................................................................106 35 EVENTS AFTER THE REPORTING PERIOD ......................................................................................................................................111 CONSOLIDATED BUSINESS REPORT ..................................................................................................................................... 112 INTRODUCTION............................................................................................................................................................................................113 SUMMARY ON 2022 OPERATIONS ........................................................................................................................................................114 1 THE GROUP’S SHARE CAPITAL, VOTING RIGHTS AND TRANSFER OF SHARES ...................................................................116 2 CORPORATE GOVERNANCE .................................................................................................................................................................116 3 SOCIAL COMMITMENTS, LABOR STANDARDS, HUMAN RIGHTS .............................................................................................120 4 COMPENSATION OF MEMBERS OF THE BOARD OF DIRECTORS, SUPERVISORY BOARD, AND MANAGEMENT .....129 5 RESEARCH AND DEVELOPMENT ........................................................................................................................................................130 6 REAL ESTATE, SITES OF OPERATION .................................................................................................................................................131 7 SUSTAINABILITY.......................................................................................................................................................................................132 8 ENVIRONMENT PROTECTION ..............................................................................................................................................................138 9 CORPORATE COMPLIANCE ..................................................................................................................................................................140 10 ECONOMIC ENVIRONMENTS, OUTLOOK AND TARGETS .........................................................................................................142 11 INTERNAL CONTROLS, RISKS AND UNCERTAINTIES .................................................................................................................143 12 ANALYSIS OF FINANCIAL RESULTS FOR 2022 .............................................................................................................................148 13 EVENTS AFTER THE REPORTING PERIOD ......................................................................................................................................153 SEPARATE FINANCIAL STATEMENTS .................................................................................................................................... 157 INDEPENDENT AUDITOR’S REPORT .........................................................................................................................................................158 STATEMENT OF FINANCIAL POSITION - ASSETS .................................................................................................................................159 STATEMENT OF FINANCIAL POSITION – LIABILITIES AND EQUITY ..............................................................................................160 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME ..............................................................................161 STATEMENT OF CASH FLOWS ....................................................................................................................................................................162 STATEMENT OF CHANGES IN EQUITY .....................................................................................................................................................163 NOTES TO THE SEPARATE STATEMENT OF CHANGES IN EQUITY ................................................................................................164 NOTES TO THE SEPARATE FINANCIAL STATEMENTS ........................................................................................................................166 1 GENERAL INFORMATION.......................................................................................................................................................................166 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES .................................................................................................................167 3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS..........................................................................................................171 4 FINANCIAL INSTRUMENTS....................................................................................................................................................................176 5 FINANCIAL RISK MANAGEMENT .........................................................................................................................................................197 6 INCOME TAXES .........................................................................................................................................................................................205

4 7 INVENTORIES ............................................................................................................................................................................................208 8 ASSETS AND LIABILITIES HELD FOR SALE .......................................................................................................................................209 9 PROPERTY, PLANT AND EQUIPMENT (PPE) ....................................................................................................................................209 10 INTANGIBLE ASSETS ............................................................................................................................................................................213 11 INVESTMENTS ........................................................................................................................................................................................217 12 OTHER ASSETS .......................................................................................................................................................................................219 13 PROVISIONS ............................................................................................................................................................................................220 14 OTHER CURRENT LIABILITIES............................................................................................................................................................221 15 OTHER NON-CURRENT LIABILITIES.................................................................................................................................................222 16 EQUITY ......................................................................................................................................................................................................223 17 LEASES ......................................................................................................................................................................................................224 18 REVENUE ..................................................................................................................................................................................................230 19 DIRECT COSTS........................................................................................................................................................................................234 20 EMPLOYEE-RELATED EXPENSES .....................................................................................................................................................235 21 OTHER OPERATING EXPENSES .........................................................................................................................................................237 22 OTHER OPERATING INCOME .............................................................................................................................................................238 23 INTEREST INCOME ................................................................................................................................................................................238 24 INTEREST EXPENSES............................................................................................................................................................................238 25 OTHER FINANCE EXPENSES – NET..................................................................................................................................................239 26 RESULTS OF INVESTMENTS ...............................................................................................................................................................239 27 EARNINGS PER SHARE (EPS) .............................................................................................................................................................240 28 PURCHASE OF PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS ............................................................240 29 PURCHASE OF SUBSIDIARIES............................................................................................................................................................240 30 CONTINGENT ASSETS AND LIABILITIES .........................................................................................................................................241 31 PURCHASE COMMITMENTS ..............................................................................................................................................................241 32 RELATED-PARTY TRANSACTIONS ...................................................................................................................................................241 33 REPORTABLE SEGMENTS AND INFORMATION ABOUT GEOGRAPHICAL AREAS .............................................................245 34 REGULATED MARKETS AND PROCEDURES ..................................................................................................................................245 35 EVENTS AFTER THE REPORTING PERIOD ......................................................................................................................................248 BUSINESS REPORT ................................................................................................................................................................. 249

7 CONSOLIDATED STATEMENT OF FINANCIAL POSITION - ASSETS At January 1, At December 31, At December 31, 2021 2021 2022 (in HUF millions) Note (restated*) (restated*) ASSETS Cash and cash equivalents ............................ 4.2.1 14,689 13,463 12,861 Trade receivables within one year ................ 4.2.2 158,857 158,187 171,583 Other current assets ...................................... 12.1 6,022 8,431 11,025 Derivative financial instruments contracted with related parties ..................................... 2.2.2, 4.2.3 13,818 300 - Other current financial assets ....................... 2.2.2, 4.2.4 28,669 9,119 1,789 Contract assets ............................................... 18.4 16,878 20,745 18,586 Current income tax receivable...................... 6 473 1,318 137 Inventories....................................................... 7 18,395 18,053 25,344 257,801 229,616 241,325 Assets held for sale ........................................ 8 489 2,286 2 Total current assets....................................... 258,290 231,902 241,327 Property, plant and equipment .................... 9 432,436 437,432 475,708 Right-of-use assets ........................................ 9, 17 121,335 122,355 123,739 Goodwill ........................................................... 10.4 213,137 212,513 212,713 Other intangible assets .................................. 10 285,680 346,149 332,185 Deferred tax assets ........................................ 6.3.2 118 125 742 Trade receivables over one year ................... 4.2.4.3 18,566 18,953 22,806 Derivative financial instruments contracted with related parties ..................................... 2.2.2, 4.2.3 6,878 16,415 31,723 Other non-current financial assets ............... 2.2.2, 4.2.4 3,736 3,768 3,796 Contract assets ............................................... 18.4 3,923 4,143 3,960 Other non-current assets .............................. 12.2 5,795 6,916 7,718 Total non-current assets .............................. 1,091,604 1,168,769 1,215,090 Total assets..................................................... 1,349,894 1,400,671 1,456,417 *See Note 2.2.2 for details regarding the restatement. Budapest, February 22, 2023 The accompanying Notes form an integral part of these consolidated financial statements.

8 CONSOLIDATED STATEMENT OF FINANCIAL POSITION – LIABILITIES & EQUITY At January 1, At December 31, At December 31, 2021 2021 2022 (in HUF millions) Note (restated*) (restated*) LIABILITIES Financial liabilities to related parties ................ 2.2.2, 4.4.1 98,337 38,067 65,700 Derivative financial instruments contracted with related parties .......................................... 2.2.2, 4.4.3 13 20 2,035 Lease liabilities..................................................... 4.5.1.2, 17.2.2 20,712 22,328 26,738 Trade payables .................................................... 4.4.5 148,326 142,031 158,786 Other financial liabilities ..................................... 4.4.4.1 12,204 55,426 11,720 Current income tax payable ............................... 6 432 2,554 1,478 Provisions ............................................................. 13 3,603 3,367 2,959 Contract liabilities ............................................... 18.4 10,998 12,238 13,153 Other current liabilities ....................................... 14 22,198 18,986 24,355 316,823 295,017 306,924 Liabilities held for sale ........................................ - 350 - Total current liabilities....................................... 316,823 295,367 306,924 Financial liabilities to related parties ................ 4.4.1 89,456 90,405 98,061 Lease liabilities..................................................... 4.5.1.2, 17.2.2 111,820 112,076 114,865 Corporate bonds.................................................. 4.4.2 67,904 68,215 68,531 Other financial liabilities ..................................... 4.4.4.1 74,163 109,231 103,918 Deferred tax liabilities ......................................... 6.3.2 18,621 16,888 14,299 Provisions ............................................................. 13 10,109 12,714 12,604 Contract liabilities ............................................... 18.4 361 326 405 Other non-current liabilities ............................... 15 2,910 2,474 2,034 Total non-current liabilities .............................. 375,344 412,329 414,717 Total liabilities..................................................... 692,167 707,696 721,641 EQUITY Common stock ..................................................... 104,275 104,275 100,580 Capital reserves ................................................... 27,379 27,379 26,409 Treasury stock ..................................................... (9,209) (19,424) (18,600) Retained earnings................................................ 465,787 509,473 546,659 Accumulated other comprehensive income .... 30,452 31,192 36,691 Total equity of the owners of the parent ......... 618,684 652,895 691,739 Non-controlling interests ................................... 16 39,043 40,080 43,037 Total equity.......................................................... 657,727 692,975 734,776 Total liabilities and equity ................................. 1,349,894 1,400,671 1,456,417 *See Note 2.2.2 for details regarding the restatement. Budapest, February 22, 2023 The accompanying Notes form an integral part of these Consolidated Financial Statements.

9 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the year ended December 31, 2021 2022 (in HUF millions, except per share amounts) Note (restated*) Mobile revenue................................................................................................ 2.2.1, 18 389,000 433,178 Fixed line revenue ........................................................................................... 2.2.1, 18 223,115 237,019 SI/IT revenue.................................................................................................... 2.2.1, 18.2.2 80,734 76,472 Revenue ............................................................................................................ 2.2.1, 18 692,849 746,669 Interconnect costs.......................................................................................... (24,959) (23,973) SI/IT service related costs............................................................................. (55,930) (54,336) Impairment losses and gains on financial assets and contract assets 4.2.2.2 (11,012) (9,210) Telecom tax ..................................................................................................... 19.1 (26,826) (26,247) Other direct costs ........................................................................................... 19.2 (185,693) (210,385) Direct costs ..................................................................................................... (304,420) (324,151) Employee-related expenses ......................................................................... 20 (75,880) (77,289) Depreciation and amortization .................................................................... 9, 10 (147,962) (138,768) Other operating expenses............................................................................. 21 (75,739) (80,921) Supplementary telecommunication tax .................................................... 2.2.3 - (24,583) Operating expenses....................................................................................... (604,001) (645,712) Other operating income ................................................................................ 22 3,961 8,221 Operating profit.............................................................................................. 92,809 109,178 Interest income ............................................................................................... 23 362 1,588 Interest expense ............................................................................................. 24 (13,767) (17,596) Other finance expense - net ......................................................................... 25 (291) (8,801) Net financial result ........................................................................................ (13,696) (24,809) Share of associates' and joint ventures' results........................................ 11 - 26 Profit before income tax .............................................................................. 79,113 84,395 Income tax........................................................................................................ 6.2 (16,266) (17,321) Profit for the period ....................................................................................... 62,847 67,074 Other comprehensive income: Items to be reclassified to profit or loss in subsequent periods: Exchange differences on translating foreign operations ................... 1,007 8,785 Items not to be reclassified to profit or loss in subsequent periods: Revaluation of financial assets at FV OCI ............................................... 399 43 Other comprehensive income for the year, net of tax .......................... 1,406 8,828 Total comprehensive income for the period ........................................... 64,253 75,902 Profit attributable to: Owners of the parent .................................................................................... 58,997 62,954 Non-controlling interests ............................................................................. 3,850 4,120 62,847 67,074 * See Note 2.2.1 Accounting policy change for details regarding the restatement

11 CONSOLIDATED STATEMENT OF CASH FLOWS For the year ended December 31, (in HUF millions) Note 2021 2022 Cash flows from operating activities Profit for the period................................................................................................................ 62,847 67,074 Depreciation and amortization ............................................................................................. 9, 10 147,962 138,768 Income tax expense ............................................................................................................... 6.2 16,266 17,321 Net financial result ................................................................................................................. 13,696 24,809 Share of associates’ and joint ventures’ result .................................................................... - (26) Change in assets carried as working capital ....................................................................... (6,994) (25,987) Change in provisions .............................................................................................................. 1,503 (2,240) Change in liabilities carried as working capital ................................................................... (5,605) 19,498 Income tax paid ...................................................................................................................... 6.4 (14,471) (18,615) Dividend received................................................................................................................... 57 76 Interest and other financial charges paid* .......................................................................... (19,935) (21,229) Interest received..................................................................................................................... 331 1,499 Other non-cash items ............................................................................................................ (887) (5,185) Net cash generated from operating activities .................................................................. 194,770 195,763 Cash flows from investing activities Payments for property plant and equipment (PPE) and intangible assets ..................... 28 (110,906) (121,217) Proceeds from disposal of PPE and intangible assets ....................................................... 1,953 1,121 Payments for subsidiaries and business units .................................................................... 29 (1,677) - Proceeds from disposal of subsidiaries and business units .............................................. 8.2, 26.2 - 5,500 Payments for other financial assets ..................................................................................... (4,194) (2,488) Proceeds from other financial assets................................................................................... 13,422 11,828 Net cash used in investing activities................................................................................... (101,402) (105,256) Cash flows from financing activities Dividends paid to Owners of the parent and Non-controlling interests .......................... 4.4.4.3 (18,788) (19,486) Proceeds from loans and other borrowings ........................................................................ 4.4.4.3 186,699 157,824 Repayment of loans and other borrowings ......................................................................... 4.4.4.3 (223,436) (137,980) Proceeds from corporate bonds ........................................................................................... 4.4.4.3 - - Repayment of lease and other financial liabilities .............................................................. 4.4.4.3 (28,972) (77,608) Treasury share purchase ....................................................................................................... 4.4.4.3 (10,215) (14,609) Net cash used in financing activities .................................................................................. (94,712) (91,859) Exchange differences on cash and cash equivalents ......................................................... 118 750 Change in cash and cash equivalents ................................................................................. (1,226) (602) Cash and cash equivalents, beginning of period ................................................................ 14,689 13,463 Cash and cash equivalents, end of period.......................................................................... 4.2.1. 13,463 12,861 *The amount of other financial charges paid is HUF 4,800 million in 2022 (2021: HUF 5,108 million). The accompanying Notes form an integral part of these Consolidated Financial Statements.

12 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY pieces in HUF millions Accumulated Other Comprehensive Income Shares of common stock Common stock Capital reserves Treasury stock Retained earnings Cumulative translation adjustment Revaluation reserve for FVOCI financial assets – net of tax Equity of the owners of the parent Non- controlling interests Total Equity (a) (a) (b) (c) (d) (e) (f) (g) Balance at January 1, 2021 ........................................................ 1,042,742,543 104,275 27,379 (9,209) 465,787 30,242 210 618,684 39,043 657,727 Dividend declared to Owners of the parent (h) ....................... - - - - (15,311) - - (15,311) - (15,311) Dividend declared to Non-controlling interests (i) ................. - - - - - - - - (3,479) (3,479) Treasury share purchase (j) ......................................................... - - - (10,215) - - - (10,215) - (10,215) Transactions with owners in their capacity as owners ........ - - - (10,215) (15,311) - - (25,526) (3,479) (29,005) Other comprehensive income ..................................................... - - - - - 517 223 740 666 1,406 Profit or loss .................................................................................... - - - - 58,997 - - 58,997 3,850 62,847 Total comprehensive income ..................................................... - - - - 58,997 517 223 59,737 4,516 64,253 Balance at December 31, 2021 ................................................. 1,042,742,543 104,275 27,379 (19,424) 509,473 30,759 433 652,895 40,080 692,975 Dividend declared to Owners of the parent (h) ....................... - - - - (15,000) - - (15,000) - (15,000) Dividend declared to Non-controlling interests (i) ................ - - - - - - - - (4,492) (4,492) Treasury share purchase (j) ......................................................... - - - (14,609) - - - (14,609) - (14,609) Capital decrease with cancellation of treasury share (k) ..... (36,941,191) (3,695) (970) 15,433 (10,768) - - - - - Transactions with owners in their capacity as owners ........ (36,941,191) (3,695) (970) 824 (25,768) - - (29,609) (4,492) (34,101) Other comprehensive income ..................................................... - - - - - 5,477 22 5,499 3,329 8,828 Profit or loss .................................................................................... - - - - 62,954 - - 62,954 4,120 67,074 Total comprehensive income ..................................................... - - - - 62,954 5,477 22 68,453 7,449 75,902 Balance at December 31, 2022 ................................................. 1,005,801,352 100,580 26,409 (18,600) 546,659 36,236 455 691,739 43,037 734,776 Of which treasury stock ................................................................ (43,078,833) Shares of common stock outstanding ..................................... 962,722,519 The accompanying Notes form an integral part of these Consolidated Financial Statements.

13 NOTES TO THE CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (a) The total amount of issued shares of common stock of 1,005,801,352 (each with nominal value of HUF 100) is fully paid as at December 31, 2022. The number of authorized ordinary shares on December 31, 2022 is 1,005,801,352. Voting Rights and Voting The holder of each Series “A” ordinary share shall be entitled to one vote at the General Meeting of the Magyar Telekom Telecommunications Public Limited Company (the Company or Magyar Telekom Plc.). The names of shareholders and nominees who intend to participate at the General Meeting shall be registered in the Share Register on the second working day prior to the starting date of the General Meeting. The General Meeting shall adopt its resolutions by a simple majority vote except for resolutions on issues listed in the Articles of Association, which shall require at least a three-quarters majority of the votes cast. There is no limitation on the rights of non- resident or foreign shareholders to hold or exercise voting rights on the ordinary shares. There is no limitation of voting rights for ordinary shares in the Articles of Association. The Company has no shares assigned with special management rights. Transfer of Shares In order to transfer dematerialized shares, there must be a contract for transfer or other legal title and, in that context, the transferor’s securities account must be debited and the new holder’s securities account must be credited with the transferred dematerialized shares. The holder of dematerialized share shall be considered the holder of the securities account on which the dematerialized shares are recorded. The transfer of any Series “A” ordinary shares is not bound to any restriction or attainment of agreement. (b) Additional paid-in capital represents the amount exceeding the nominal value of the shares that was received by the Company during capital increases. (c) Treasury stock represents the cost of the Company’s own shares repurchased. When the Company or its subsidiaries purchase the Company’s equity shares, the consideration transferred, including any attributable incremental external costs, are deducted from the Equity of the owners of the parent as Treasury stock until they are re-sold or cancelled. When such shares are subsequently sold, the treasury share balance decreases by the original cost of the shares, thereby increasing equity, while any gains or losses are also recognized in equity (Retained earnings). Treasury stock transactions are recorded on the transaction date. The number of Treasury stock was 43,078,833 on December 31, 2022 and 45,777,539 on December 31, 2021. (d) Retained earnings include the accumulated and undistributed profit of the Group. The distributable reserves of the Company under Hungarian law (Section 5 (b) 114/B of Act C of 2000 on Accounting relating to untied retained earnings available for the payment of dividends) at December 31, 2022 amounted to approximately HUF 557 billion (HUF 524 billion at December 31, 2021). (e) Cumulative translation adjustment represents the foreign exchange differences arising on the consolidation of foreign subsidiaries. (f) Revaluation reserve for financial assets at FVOCI includes the unrealized gains and losses net of tax on equity instruments measured at Fair Value through other comprehensive income (see also Note 4.5.1). (g) Non-controlling interests represent the Non-controlling shareholders’ share of the net assets of subsidiaries in which the Group has less than 100% ownership (Note 16). (h) Dividends payable to the Company’s shareholders and to Non-controlling shareholders of the Group’s subsidiaries are recorded as a liability and debited against equity (Retained earnings or Non-controlling interests) in the Group’s financial statements in the period in which the dividends are approved by the shareholders. (i) The amount of dividends declared to Non-controlling interests includes predominantly the dividends declared to the Non-controlling owners of Makedonski Telekom (MKT) and the Group’s other subsidiaries.

14 (j) The Company repurchased own shares for HUF 14.6 billion through a share buyback auction on May 17, 2022 for the purpose of shareholders’ remuneration as approved on the Annual General Meeting on April 12, 2022 (in 2021 HUF 10.2 billion own shares were repurchased). The Company concluded repurchase transactions for 34,242,485 Magyar Telekom ordinary shares at an average price of HUF 426 per share. (k) The Company’s common stock was decreased from HUF 104,274,254,300 to HUF 100,580,135,200 with the cancellation of 36,941,191 pieces of dematerialized series “A” ordinary shares (treasury shares) owned by the Company, each with the face value of HUF 100. The transaction amounted to HUF 15.4 billion decreased Common stock at nominal value and Capital reserves on pro-rata basis and Retained Earnings. The cancellation thus resulted in a reorganization between the elements of the total Equity, but there was no change in total Equity. The decrease of share capital as part of shareholders’ remuneration was approved on the Annual General Meeting on April 12, 2022 and registered by the Court of Registry on June 23, 2022. Following the transaction the Company’s share capital is consist of 1,005,801,352 pieces of dematerialized series “A” ordinary shares and treasury shares of 43,078,833 pieces, each with the face value of HUF 100. Together with the approval of these financial statements for issue, the Board of Directors of the Company proposes a dividend distribution in total of HUF 29,459 million to be approved by the Annual General Meeting of the Company in April 2023. In 2022 the Annual General Meeting of Magyar Telekom Plc. approved HUF 15,000 million dividend. The actual amount of gross dividend per ordinary Magyar Telekom share for the business year 2021 was HUF 15.05. Dividend payment started on May 10, 2022. The accompanying Notes form an integral part of these Consolidated Financial Statements.

15 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 1 GENERAL INFORMATION 1.1 About the Company Magyar Telekom Plc. with its subsidiaries form Magyar Telekom Group (Magyar Telekom or the Group). Magyar Telekom Plc. is the leading provider of telecommunications services in Hungary and Republic of North Macedonia and alternative service provider in Bulgaria and Romania. These services are subject to various telecommunications regulations depending on the countries of operations (Note 34). The Company was incorporated in Hungary on December 31, 1991 and commenced business on January 1, 1992. The Company’s registered seat is Könyves Kálmán krt. 36., 1097 Budapest, Hungary since November 1, 2018. Name of the Court of Registration and the registration number of the Company: Registry Court of the Budapest-Capital Regional Court, Cg. 01-10-041928. Magyar Telekom Plc. is listed on the Budapest Stock Exchange and its shares are traded on the Budapest Stock Exchange. Magyar Telekom’s American Depository Shares (ADSs) each representing five ordinary shares were also traded on the New York Stock Exchange until November 12, 2010, when the ADSs were delisted. Magyar Telekom terminated the registration of its shares and ADSs in the US in February 2012. The Company maintains its American Depositary Receipt program on a Level I basis. The ultimate controlling parent of Magyar Telekom is Deutsche Telekom AG (DT or DT AG) who fully consolidates Magyar Telekom Group. Deutsche Telekom Europe B.V. (Stationsplein 8, 6221 BT Maastricht, the Netherlands), a member of the Deutsche Telekom Group, is the direct owner of 61.39% of the Company’s issued shares. The consolidated financial statements of DT AG are available at DT AG’s website ( www.telekom.com/en). The Consolidated Financial Statements are prepared and presented in millions of Hungarian Forints (HUF), unless stated otherwise. The Company’s Board of Directors (the Board) accepted the submission of these consolidated financial statements of the Company on February 22, 2023 to the Annual General Meeting (AGM) of the owners, which is authorized to approve these financial statements, but also has the right to require amendments before approval. As the controlling shareholders are represented in the Board of the Company that accepted the submission of these financial statements, the probability of any potential change required by the AGM is remote, and has never happened in the past. Persons authorized to sign the annual report: Tibor Rékasi - Chief Executive Officer, member of the Board (residence: Szentendre) Daria Aleksandrovna Dodonova - Chief Financial Officer, member of the Board (residence: Budapest) In Magyar Telekom Plc., the accounting services are coordinated by Melinda Modok (certificate number: 18128. Area of speciality: IFRS entrepreneurial activity. Status: registered. Registration number: MK 199521. Residence: Budapest). The Company is subject to compulsory audit. The Company’s auditor is Deloitte Könyvvizsgáló és Tanácsadó Kft. (its register number is 01-09-071057, its taxation number is 10443785-2-42), the responsible person for carrying out the audit is Kornél Bodor (membership number at Chamber of Hungarian Auditors: 005343). The Group complies with the requirements of European Securities and Markets Authority (ESMA) and publishes its consolidated annual report in XHTML format from January 1, 2021 and provide the consolidated financial statements prepared in accordance with IFRS as endorsed by the European Union (EU) with Inline XBRL to make data machine- readable. The Separate Financial Statements of Magyar Telekom Plc. and the Consolidated Financial Statements of Magyar Telekom Group are available at the Company’s registered office and on its corporate website. Magyar Telekom Plc.’s corporate website is: www.telekom.hu

16 1.2 Composition of the Group At December 31, 2021 and 2022 the major operating subsidiaries of the Group were as follows: Subsidiaries Functional currency Group interest in capital as at December 31, Activity 2021 2022 Incorporated in Hungary: T-Systems Magyarország Zrt. (Telekom Rendszerintegráció Zrt.)*, Budapest ......................... HUF 100.00% 100.00% System integration and IT services KalászNet Kft., Budapest ............................................ HUF 100.00% 100.00% Telecom service provider Telekom New Media Zrt., Budapest ........................... HUF 100.00% 100.00% Interactive service provider of telecommunications applications Incorporated in North Macedonia: Makedonski Telekom A.D., Skopje (MKT) ................. MKD 56.67% 56.67% Telecom service provider Incorporated in Romania: Combridge S.R.L., Bucharest ...................................... RON 100.00% 100.00% Wholesale telecom service provider Incorporated in Bulgaria: Novatel EOOD, Sofia ..................................................... BGN 100.00% 100.00% Wholesale telecom service provider *On February 1, 2023, the company name of T-Systems Magyarország Zrt. changed to Telekom Rendszerintegráció Zrt. The Group’s interest in the capital of the above subsidiaries equals the voting rights therein. There is no significant entity in the Group that is not controlled even though more than half of the voting rights are held. All subsidiary undertakings are included in the consolidation.

17 2 BASIS OF PREPARATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 2.1 Basis of preparation The consolidated financial statements of Magyar Telekom have been prepared in accordance with International Financial Reporting Standards (IFRS) as endorsed by the European Union (EU). All standards and interpretations endorsed by the EU effective as at December 31, 2022 and applicable to Magyar Telekom had been adopted. These consolidated financial statements also comply with the Hungarian Accounting Act on consolidated financial statements, which refers to the IFRS as endorsed by the EU. This consolidated financial statements were approved by the Company’s Board of Directors on February 22, 2023. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas in which assumptions and estimates are significant to the consolidated financial statements, are disclosed in Note 3. Financial statements are prepared under going concern assumptions, which means it is assumed the Company will continue to operate in the foreseeable future without the need or intention on the part of management to liquidate the entity or to significantly curtail its operational activities. 2.1.1 Initial application of standards, interpretations, and amendments in the financial year The table below summarizes the Standards amended and the subject of the amendments effective on or after January 1, 2022 that could have an impact on Magyar Telekom’s accounting policies. Pronouncement Title Applied by Magyar Telekom from Changes Impact on the presentation of Magyar Telekom's results of operations and financial position Amendments to IFRS 3; IAS 16; IAS 37 and Annual Improvements 2018- 2020 Business Combinations; Property, Plant and Equipment; Provisions; Contingent Liabilities and Contingent Assets Jan 1, 2022 Package of narrow-scope amendments to three Standards as well as the Board’s Annual Improvements, which are changes that clarify the wording or correct minor consequences, oversights or conflicts between requirements in the Standards. No material impact.

18 2.1.2 Standards, amendments and interpretations that are not yet effective as of December 31, 2022 and have not been adopted early by the Group and other expected changes for 2023 and 2024 Pronouncement Title To be applied by Magyar Telekom from Changes Expected impact on the presentation of Magyar Telekom's results of operations and financial position Standards endorsed by the EU IFRS 17 and Amendments to IFRS 17 Insurance Contracts Jan 1, 2023 IFRS 17 governs the accounting for insurance contracts and replaces IFRS 4. Deferral of first-time application of IFRS 17 to January 1, 2023. The amendments refer to specific topics helping entities to implement the standard and avoiding a significant loss of useful information. No material impact is expected. Amendments to IAS 1 Presentation of Financial Statements Jan 1, 2023 Disclosure of material accounting policy information instead of significant accounting policies. In addition, IFRS Practice Statement 2 has been amended. No material impact is expected. Amendments to IAS 8 Accounting policies, Changes in Accounting Estimates and Errors Jan 1, 2023 Introduced a definition of ‘accounting estimates’ and included other amendments to help entities distinguish changes in accounting policies from changes in accounting estimates. No material impact is expected. Amendments to IAS 12 Income Taxes Jan 1, 2023 Deferred Tax related to Assets and Liabilities arising from a Single Transaction No material impact is expected. Amendments to IFRS 17 Insurance contracts Initial Application of IFRS 17 and IFRS 9 – Comparative Information Jan 1, 2023 Transition option relating to comparative information about financial assets presented on initial application of IFRS 17, helping entities to avoid temporary accounting mismatches between financial assets and insurance contract liabilities, and therefore improve the usefulness of comparative information for users of financial statements. Not applicable. Standards not yet endorsed by the EU* Amendments to IAS 1 Presentation of Financial Statements Jan 1, 2024 Classification of Liabilities as Current or Non-current and Deferral of Effective Date. No material impact is expected. Amendments to IFRS 16 Leases Lease Liability in a Sale and Leaseback Jan 1, 2024 The amendments add subsequent measurement requirements for sale and leaseback transactions that satisfy the requirements in IFRS 15 Revenue from Contracts with Customers to be accounted for as a sale. No material impact is expected. * For standards not yet endorsed by the EU, the date of first-time adoption scheduled by the IASB is assumed for the time being as the likely date of first-time adoption.

19 2.2 Accounting policy change and change in presentation 2.2.1 Accounting policy change - Principal vs agent recognition Based on "Principal versus Agent: Software Reseller (IFRS 15 Revenue from Contracts with Customers)" agenda decision by IFRS Interpretation Committee, finalized on May 30, 2022 the Group had to reassess the control in reselling of another party’s intangible goods or services with unlimited supply (e.g. software licenses, cloud services, streaming services). The Group determines that it only acts as a principal and thus recognizes revenues on a gross basis if the Group is the only party which the customer enters into a contract with, and the Group is primarily responsible towards the customer for product acceptability, providing support, handling complaints and rectifying product issues . The reassessment concluded that agent accounting should be adopted and resulted in accounting policy change and restatement in the presentation of reselling of another party’s intangible goods or services with unlimited supply by decreasing accompanying Revenue and Direct cost, while EBITDA AL, Net income, Consolidated Statement of Financial Position and Free cash flow remained unchanged. The table below shows the effects for the year 2021: (HUF millions) 2021 as reported Restatement 2021 restated Mobile revenue......................................................... 389,387 (387) 389,000 Fixed line revenue .................................................... 223,865 (750) 223,115 SI/IT revenue............................................................. 86,868 (6,134) 80,734 Revenue.............................................................. 700,120 (7,271) 692,849 SI/IT service related costs...................................... (62,065) 6,135 (55,930) Other direct costs .................................................... (186,829) 1,136 (185,693) Direct costs ............................................................ (311,691) 7,271 (304,420) 2.2.2 Restatement of Derivative financial instruments contracted with related parties, Other current and non-current financial assets and Financial liabilities contracted with related parties In 2022, due to their level of magnitude, derivative financial instruments contracted with related parties are presented on a separate lines in the Consolidated statement of financial position to ensure the reliable and fair presentation. (For further information see Note 4.2.3 and 4.4.3). In 2021 derivative financial instruments contracted with related parties were presented on the lines of current, non-current other financial assets and current financial liabilities to related parties. The Company represented the figures of Consolidated statement of financial position as of 2021 accordingly, the impacts of these changes are shown in the table below: As of January 1, As of December 31, 2021 2021 2021 2021 as reported restated as reported restated Derivative financial instruments (assets) contracted with related parties ........................................................... - 13,818 - 300 Other current financial assets ............................................ 42,487 28,669 9,419 9,119 Total ............................................................................... 42,487 42,487 9,419 9,419 Derivative financial instruments (assets) contracted with related parties ........................................................... - 6,878 - 16,415 Other non-current financial assets ................................... 10,614 3,736 20,183 3,768 Total ............................................................................... 10,614 10,614 20,183 20,183 Financial liabilities to related parties (current) .............. 98,350 98,337 38,087 38,067 Derivative financial instruments (liabilities) contracted with related parties ........................................................... - 13 - 20 Total ............................................................................... 98,350 98,350 38,087 38,087

20 2.2.3 Supplementary telecommunication tax On June 4, 2022 the Government of Hungary issued a decree (Government Decree of 197/2022. (VI.4.)) imposing new tax on a number of industries, including telecommunications. The supplementary telecommunication tax is levied on the actual business year’s annual net sales of telecommunication services as defined by the law on local taxes using progressive rates, appropriately weighted based on the expected full year revenue and is payable for the years 2022 and 2023. The applicable tax rate is progressive: 0% for turnover below HUF 1 billion; 1% for turnover exceeding HUF 1 billion and below HUF 50 billion; 3% for turnover exceeding HUF 50 billion and below HUF 100 billion; and 7% for turnover exceeding HUF 100 billion. The major proportion of Magyar Telekom’s telecommunication revenue is subject to 7% tax rate. The supplementary telecommunication tax classification requires judgment. Management believes that this tax is not a tax on consumption of services by end customers but rather a tax on entities operating in selected industries and its fundamental aim is to support the corrective actions in relation to the economic downturn that Hungary is facing. The calculation of supplementary telecommunication tax ignores whether revenue is invoiced to and collected from customers or not. Altogether, management classified this tax as indirect operating expense and for transparency it is disclosed on a separate line of Consolidated Statement of Profit or Loss and Other Comprehensive Income. 2.3 Consolidation 2.3.1 Subsidiaries Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The existence and effect of potential voting rights that are presently exercisable or presently convertible are also considered when assessing whether the Group controls another entity. Subsidiaries are consolidated from the date on which control is transferred to the Group, and are no longer consolidated from the date control ceases. The acquisition method of accounting is used to account for business combinations. The cost of an acquisition is measured as the fair value of the assets given up, shares issued or liabilities undertaken at the date of acquisition whereby costs directly attributable to the acquisition are expensed. The excess of the consideration transferred and the amount of any non-controlling interest over the fair value of the net of the acquisition date amounts of the identifiable assets acquired and the liabilities assumed is recorded as goodwill. If the consideration transferred and the amount of any non-controlling interests is less than the fair value of the identifiable assets acquired and the liabilities assumed, the difference is recognized in the Profit for the period (Other operating income). The classification of transactions as a business combination must be made on a case-by-case basis. The Group may decide to apply or not to apply the concentration test separately for each transaction or event. A concentration test is met if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. In this case, the group of activities and assets is not a business. If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, the Group has maximum one year from the acquisition date to finalize the purchase price allocation. If applicable, the Group recognizes at the acquisition date a liability for any contingent purchase consideration. If the amount of contingent consideration accounted for as a liability changes as a result of a post-acquisition event (such as meeting an earnings target), the difference is recognized in accordance with other applicable IFRSs as appropriate rather than as an adjustment of goodwill. The Group attributes their share of losses to the non-controlling interests even if this results in the non-controlling interests having a deficit balance. In a step acquisition, the fair values of the acquired entity’s assets and liabilities, including goodwill, are measured on the date when control is obtained. Accordingly, goodwill is measured at the acquisition date as the difference between the fair value of any investment the business held before the acquisition, the consideration transferred and the fair value of the net asset acquired.

21 In case of acquisitions where the transaction takes place between companies under common control (i.e. with other Deutsche Telekom Group companies), the transaction is recorded at the carrying amounts as recorded in the selling owner’s accounts, and any gains, losses or differences between the carrying amount and the sale-purchase price are recognized in Retained earnings. The consolidated financial statements include the results of subsidiaries acquired from parties under common control from the date of the closing of the transaction. A partial disposal of an investment in a subsidiary while control is retained is accounted for as an equity transaction with owners, therefore gain or loss is not recognized in profit or loss for such disposals. A partial disposal of an investment in a subsidiary that results in loss of control triggers re-measurement of the residual interest to fair value. Any difference between fair value and carrying amount is a gain or loss on the disposal, recognized in Profit for the period (Other operating income). Inter-company transactions, balances and unrealized gains or losses on transactions between the Magyar Telekom Group companies are eliminated. Accounting policies of subsidiaries have been adjusted to ensure consistency with the policies adopted by the Group. The ESOP (Employee Share Ownership Program) Organization was a special organization of Magyar Telekom which was controlled by the Company without any shares in it. The voluntary liquidation of the ESOP Organization ended in 2021. 2.4 Foreign currency translation 2.4.1 Functional and presentation currency Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the functional currency), that is the Hungarian forint for Magyar Telekom Plc. and functional currencies for subsidiaries disclosed in Note 1.2. The consolidated financial statements are presented in millions of HUF, as the Group’s presentation currency is the Hungarian Forint. 2.4.2 Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing on the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the Profit for the period (Other finance expense – net). 2.4.3 Group companies The income and financial position of all of the Group’s entities (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: ▪ For the initial consolidation of foreign subsidiaries acquired, their assets and liabilities at the acquisition date are incorporated into the consolidated financial statements after translating the balances into HUF using the exchange rate prevailing at the date of acquisition. The fair value adjustments resulting from the purchase price allocation and goodwill are accounted for in HUF for acquisitions before March 31, 2004, after which date these adjustments arising on consolidation are accounted for in the functional currency of the subsidiary. ▪ Assets and liabilities for each Statement of financial position presented are translated at the closing rate at the date of that Statement of financial position. ▪ Items of the Consolidated Statement of Profit or loss and other comprehensive income are translated at annual cumulated average exchange rates. ▪ All resulting exchange differences are recognized in the consolidated equity (Cumulative translation adjustment). When a foreign operation is fully or partially disposed of so that control is lost, exchange differences that were recorded in equity until the date of the sale are recognized in the other operating profit for the period as part of the gain or loss on sale.

22 2.5 Macroeconomic and financial impact of Russian-Ukrainian war Management continuously monitors the progress in the Hungarian economic environment and the effect of the war, particularly the macroeconomic tendencies and current market conditions. Russian-Ukrainian war has had a significant negative impact on the global economic outlook. Extensive sanctions have been imposed by the European Union on Russia in response to its aggression. Hungary faces high inflation and weakening of the forint above than the average rate in the Central European Region. The National Bank of Hungary introduced interventions during 2022 including gradual increase of base rate in Hungary to protect the forint and limit the inflation. In May 2022 the government declared state of energy emergency and initiated additional corrective actions to keep the Central Budget in balance. In response to the consequences of the war, the energy shortage and dramatic increase in energy prices across Europe, the government announced targeted measures such as fixing prices of basic consumption goods, cap on residential gasoline price, partial termination of caps on residential gas and electricity prices in case of usage above the average consumption level, further extension of loan moratorium and interest moratorium. In addition to the above, the introduction of the supplementary telecommunication tax (see Note 2.2.3) in 2022 is putting significant pressure on the profitability of the Group. To reflect to these changes and to ensure the reliability and security of the network the Group continued to invest in the infrastructure. The rollout of the fibre network remained a key priority and significant amount of capital expenditures was dedicated to the expansion of the network during 2022. Furthermore, the Group continued with the radio access network modernization commenced in 2020 to be able to meet the sharply rising mobile data capacity demand. The inflationary environment and the weakening of the forint put increasing pressure on the Group’s costs, while a potential economic downturn could negatively impact the Group’s topline performance. Yet the Group remains committed to focusing on the delivery of its strategic objectives. The management closely monitors the recoverability of assets, therefore the Company has conducted the goodwill impairment test quarterly during the year and paid more attention to monitor the solvency of customers, taking into account the emerging negative macroeconomic impacts. See details in Notes 3.2 and 3.3. Altogether, the management has not identified any events which would threaten the going concern of the Group’s operations, and no major adverse changes are expected in the long term.

23 2.6 Climate-related matters In 2021, a new ten-years sustainability strategy was launched by Magyar Telekom Plc with the main objective to remain the country’s leading sustainable company by putting digitalization at the service of the development of people, families and businesses, and the protection of the environment. Climate-related key performance indicators (KPIs) are incorporated into the remuneration system of Magyar Telekom Plc’s Officers and certain top management categories. As part of the sustainability strategy, the Group put emphasis on the modernization of technology e.g., fibre roll-out and retirement of 3G. These development plans are in the scope of the annual useful life revision therefore no significant impairment had been adjusted (see Note 9.1 and 9.3). Asset retirement obligation (ARO) recognition task is involved into the operation, done generally on specific, basically network improvements, and it is annually monitored and also evaluated in respect of any additional regulatory requirement, if any, see Note 13.2. The European Green Deal prioritizes energy use and emissions of the information and communications technology (ICT) sector, recognizing that the sector can make a significant contribution to achieving 2050 climate neutrality, through 5G, artificial intelligence, Internet of Things (IoT ) and cloud services, but it can also increase its energy consumption. As a first step, the European Union aims to increase energy efficiency in data centers and achieve climate neutrality by 2030. The Magyar Telekom’s new climate strategy is consistent with the European Green Deal, however, the Group’s electricity consumption has already been covered by renewable energy from 2021. Magyar Telekom Plc has been following this practice since 2016, and its domestic subsidiaries since 2018. So far, this has been achieved through purchased guarantees of origin (GoO). The economic environment in Europe has significantly changed in 2022, therefore secure renewable energy procurement has become an important task, thus a short-term PPA contract was signed in 2022, which will replace a part of the GoO purchase from 2023 onwards. The following main targets have been set until 2030 for Magyar Telekom Plc and T-Systems Hungary Ltd in the climate strategy: ▪ reduce direct and indirect greenhouse gas (GHG) emissions (scope 1+2) by 84% compared to 2015, taking real actions (without carbon credits purchase), and keep these emissions at net zero level with purchasing carbon credits ▪ reduce all other indirect emissions (scope 3) by 30% compared to 2017 ▪ enable customers to take climate action and reduce emissions by providing ICT services applicable as climate protection (i.e., smart) solutions, ▪ at least 50% of the revenues come from services that support climate protection. Risks The Group is exposed to the risk of future energy price uncertainty. The growing demand for green energy in the markets together with the current macroeconomic situation can lead to an increase in energy and also renewable certificate prices. The Group remains determined in its environmental strategy and continues to work including searching for new possibilities i.e., entering into long-term power purchase agreements (PPA). The management believes that long-term renewable energy use can continue to be a business advantage as customers rising demand sustainable products and services. Within the Business Continuity Management (BCM) framework, the Group identified critical climate risks (floods, heat alerts) and developed a response plan. All arising cases were investigated and analyzed, but the damage to the networks did not reach the materiality level. This analysis will help Magyar Telekom to be more resilient when modernizing the infrastructure. For reaching the emission reduction targets, including 1.5°C target of Intergovernmental Panel on Climate Change (IPCC), the regulators may set more stringent conditions in the future may result in higher expenditures for the Group. Group’s forward-looking climate strategy and achievements already accomplished, even with stricter regulations, may give an advantage over the domestic competitors. Based on this analysis Magyar Telekom does not anticipate any significant impact on its business model or on the presentation of its result of the operation or financial position. For further information see Magyar Telekom’s Sustainability Reports (https://www.telekom.hu/about_us/society_and_environment/sustainability_reports)

24 3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the prevailing circumstances. The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, rarely equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities are outlined below. 3.1 Useful lives of assets The determination of the useful lives of assets is based on historical experience with similar assets as well as any anticipated technological development and changes in broad economic or industry factors. The appropriateness of the estimated useful lives is reviewed annually, or whenever there is an indication of significant changes in the underlying assumptions. Management believes that this is a critical accounting estimate since it involves assumptions about technological development in an innovative industry and heavily dependent on the investment plans of the Group. Further, due to the significant weight of depreciable assets in total assets, the impact of any changes in these assumptions can be material to the financial position, and results of operations. See Notes 9 and 10 for the changes made to useful lives in 2022. The Group is constantly introducing a number of new services or platforms. In the frame of that, Magyar Telekom focuses on investment into fixed (optical) and mobile networks to meet continued strong demand for mobile data, broadband and TV services. Continued the development of 4G and 5G platforms, the fiber rollout program and there were significant investments into the customer premise equipments (CPE). Retirement of 3G network allowed the Group to increase throughput capacities by redeploying relevant frequency bands to deliver 4G and 5G services. In case of the introduction of such new services or platforms, the Group conducts a revision of useful lives of the already existing platforms, but in the vast majority of the cases these new services or assets are designed to co-exist with the existing platforms, not necessarily resulting in changing over to the new technology. Consequently, the useful lives of the existing platforms usually do not require shortening. 3.2 Estimated impairment of goodwill Goodwill is not amortized, but tested for impairment annually in the last quarter of the year and in the other quarters quicktests are executed. Due to economic downturn during the preparation of the financial statement of 2022 the management updated its goodwill impairment test by considering updated information on inputs like book values, foreign exchange rates, and weighted average cost of capital. Similarly to 2021, no impairment needed to be recognized in 2022. Goodwill is allocated to the operating segments of the Group: MT-Hungary and North Macedonia. For additional information of operating segments, see Note 33. The recoverable amounts of the operating segments are calculated based on fair value less cost of disposal determined by the discounted projected cash flows of the operating segments over the next ten years with a terminal value, as the payback period of investments in the telecommunications industry covers longer period. The impairment test is based on reasonable and supportable assumptions that present the management’s best estimate incorporating market participants’ assumptions and expectations. This is highly judgmental, which carries the inherent risk of arriving at materially different recoverable amounts if estimates used in the calculations proved to be inappropriate. In the calculations, Magyar Telekom uses different weighted average cost of capital (WACC) and estimated perpetual growth rate (PGR) depending on the country of operations and the characteristics of the markets the Group’s segments operate in. Costs of certain central functions that are not cross charged are also considered in the fair value calculations when conducting the goodwill impairment tests. The costs of these central functions are allocated to the operating segments based on the segments’ revenue share of the Group’s total revenue. Details of the carrying amounts of goodwill allocated to the segments are presented in Note 10.4.

25 In 2022 and 2021 the following WACC and PGR rates have been applied in the fair value calculations for the goodwill impairment test. 2021 2022 WACC MT-Hungary ................................................................................................ 7.95% 11.20% North Macedonia ........................................................................................ 5.14% 8.55% PGR MT-Hungary ................................................................................................ 1.0% 1.0% North Macedonia ........................................................................................ 1.0% 1.0% Sensitivity test During the sensitivity analysis the management assessed the effects of reasonable change in the main factors to the impairment calculation based on forward-looking projections, including financial projections for inflation and base rate whether it would result in an impairment of the goodwill allocated to either operating segment. The following factors are considered: WACC, PGR, Free Cash flow and CAPEX, each analysed separately. Variation in WACC rate generate major impact for the fair value less cost of disposal of the segments. The WACCs are determined by ▪ the capital asset pricing model (CAPM) using ▪ the average of the peer group’s betas ▪ 10-year zero-coupon government bond yields ▪ debt ratio in line with the usual indebtedness of listed peer telecommunications companies. WACC rate is determined basically by the 10-year-zero-coupon government bond yield. Estimation of the potential change of a 10-year zero-coupon yield is difficult, as contrary to the previous periods this rate increased significantly by 3.26% points and 3.41% points during 2022 in MT-Hungary and North Macedonia segment respectively due to recent economic downturn explained in Note 2.5. It is highly judgemental assessing the possible tendency of WACC indicators for the year 2023. Management expectation is a limited change in WACC, meaning it may vary in a range of plus or minus 1-2% points, based on which no impairment should be recognized. PGRs used are in line with the long-term average growth rate for the particular segment. Significant variation in PGR is not projected to be reasonable therefore no sensitivity is performed on this parameter. Projecting fluctuation of future cash flows is a challenging task in the current macroeconomic surroundings may cause solvency issues at residential and business customers. Due to the rising inflation and devaluation of the forint 5% fluctuation in free cash flow had been investigated and concluded with no indication to any impairment recognition. CAPEX budget is defined and closely monitored by the Group, however considering the weakening of the forint, and intensified developments on the network, the future CAPEX spending can be higher than budgeted, therefore 5% variation has been used in the sensitivity test which has not resulted in any need for recognition of impairment on goodwill allocated to any of the segments. Altogether, the management believes that any reasonably possible change in the above tested key assumptions on which the recoverable amount of the CGU’s is based would not cause the aggregate carrying amount to exceed the aggregate recoverable amount of the related CGUs.

26 3.3 Estimated impairment of trade and other receivables Impairment is calculated for accounts receivable based on estimated losses resulting from the inability of customers to make required payments. For the largest customers and other telecommunications service providers, impairment is calculated on an individual basis, while for other customers it is estimated on a portfolio basis – see classification in Note 4.1.2 –, for which the base of estimate is the aging of accounts receivable balance and historical write-off experience, customer credit-worthiness and recent and expected changes in customer payment terms and forward-looking information e.g. unemployment rates, credit crisis, inflation, national and international statistics, macroeconomic surroundings and publications of the National Bank of Hungary. In addition, the nature of the business (residential, business, fixed line, mobile, internet, cable TV, etc.) is also considered and the environment in which the Group’s entities operate in the various markets. The above factors of impairment calculation are reviewed annually, and changes are made to the calculations when necessary. The assessment of the correlation between historically observed default rates, forecasted economic conditions and expected impairment is considered as a critical estimate. According to the best estimation based on the annual reassessment the management concluded that there is no reason to modify the bad debt ratios used previously for the portfolios. The management also assessed the effect of possible termination of utility cost reduction, a rising inflation, outstanding increase in energy and food prices in Hungary and the end of the loan moratorium which may have a negative impact on the monetization of installment receivables and concluded that a further approximately HUF 800 million impairment was required. The annual revision also revealed that no other asset classes have been impacted materially. A sensitivity analysis had also been prepared that shows how much impairment would have been recognized on receivables as at December 31, 2022 if the estimated non-payment rate is changed. According to this, the financial effect of 1% and 2% improvement (-) and deterioration (+) of the applied estimated non-payment rate would increase or decrease by HUF 0.8 billion and by HUF 1.6 billion the carrying value of these trade receivables (current and non-current part). If the financial condition of customers were to deteriorate, actual write-offs of currently existing receivables may be higher than expected and may exceed the level of the impairment losses recognized so far. The management pays particular attention to the continuous monitoring of the solvency of the customers in the future and would take additional corrective actions if it is necessary. Please see further information Notes 4.1.1, 4.2.2.2 and 5.1.2.

27 3.4 Contracts with customers The Group applies the guidance to a group of contracts with similar characteristics instead of to a single contract with a customer. The characteristics considered include mainly the business segment of the customer, business model of the contract, and whether the contract is committed or not. Contract assets are recognized for unbilled amounts typically resulting from sales under long-term contracts when revenue recognized exceeds the amount billed to the customer in that period. This is a temporary difference so that revenue recognized and revenue billed are the same by the end of the commitment term. The amount of the contract assets is determined considering the estimated churn rate, average contract cancellation rates (in first 14 days), estimated penalty rates of the relevant group of contracts and effective interest rate. Contract assets are released monthly – in line with revenue from invoiced services to customers – during the minimum contract term of the relevant group of contracts. Furthermore, the Group recognizes assets for costs incurred in connection with the signing of customer contracts which would not have been incurred if the customer contract had not been concluded (contract costs). Capitalization is subject to the expectation that those costs will be recovered by future revenue resulting from the contract. Costs of obtaining a contract with a customer generally include sales commissions in both direct and indirect distribution channels (selling and marketing costs, bid and proposal costs, sales commissions, and legal fees). Capitalizing incremental costs of obtaining a contract does not only refer to contracts concluded with a new customer but also to contract renewals. Costs of obtaining a contract with a customer recognized on fix and mobile telecommunication services, are amortized on a portfolio basis over the period that the related goods or services are transferred to the customer which is ▪ in case of uncommitted contracts – without loyalty period – based on historical customer retention period (e. g. average period of usage of prepaid cards, postpaid, broadband and IT services) and ▪ in case of committed contracts – with a loyalty period of 12-24 months – the commitment period is considered as amortization period (e.g. postpaid, broadband, IT services and bundled sales of equipment and services). The Group decided not to use the practical expedient of expensing the incremental costs of obtaining a contract immediately, which are amortized over a period of one year or less. See Note 18.4 for the amount of contract assets, contract liabilities and contract costs. 3.5 Leases – estimating the incremental borrowing rate and assessment of extension and termination options At the commencement date, a lessee shall measure the lease liability at the present value of the lease payments that are not paid at that date. The lease payments shall be discounted using the interest rate implicit in the lease, if that rate can be readily determined. If that rate cannot be readily determined, the lessee shall use the lessee’s incremental borrowing rate. The incremental borrowing rate reflects the main risks of the lease arrangements in a specific country and is provided for each year up to a maturity of 30 years. A change in the interest rate is only applicable when after initial recognition the contract is modified, or a reassessment is necessary which causes a change in the interest rate. Generally, Magyar Telekom uses the lessee’s incremental borrowing rate. Magyar Telekom never uses negative interest rates. Any negative interest rates will be capped at an amount of zero. The Group has several lease contracts that include extension and termination options. These options are negotiated by management to provide flexibility in managing the leased-asset portfolio and align with the Group’s business needs. Management exercises significant judgement in determining whether these extension and termination options are reasonably certain to be exercised. Extension options (or periods after termination options) are only included in the lease term if The Group is reasonably certain to exercise an option to extend the lease, or not to exercise an option to terminate the lease. The threshold for a “reasonably certain” exercise is lower than “virtually certain” and higher than “more likely than not.” For further information see Note 17.2.2.

28 4 FINANCIAL INSTRUMENTS A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial assets of the Group include: ▪ cash and cash equivalents, ▪ equity instruments of another entity and ▪ contractual rights ▪ to receive cash (trade receivables) or another financial asset from another entity or ▪ to exchange financial assets or financial liabilities with another entity under conditions that are potentially favorable to the entity (derivatives) ▪ a contract that will or may be settled in the entity’s own equity instruments and ▪ is a non-derivative for which the entity is or may be obliged to receive a variable number of the entity’s own equity instruments; ▪ or a derivative that will or may be settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose, the entity’s own equity instruments do not include puttable financial instruments classified as equity instruments, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. Financial liabilities of the Group include liabilities that ▪ originate from contractual obligations ▪ to deliver cash or another financial asset to another entity (non-derivatives); or ▪ to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavorable to the entity (derivatives) or ▪ a contract that will or may be settled in the entity’s own equity instruments and is ▪ a non-derivative for which the entity is or may be obliged to deliver a variable number of the entity’s own equity instruments; ▪ or a derivative that will or may be settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose, the entity’s own equity instruments do not include puttable financial instruments that are classified as equity instruments, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. 4.1 Financial assets – accounting policies Group classifies its financial assets on the basis of both: ▪ the entity's business model for managing the financial assets and ▪ the contractual cash flow characteristics of the financial asset in the following categories: ▪ at amortized cost if both of the following conditions are met: ▪ the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and ▪ the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding. ▪ at fair value through other comprehensive income (FVOCI) if both of the following conditions are met: ▪ the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and ▪ the contractual terms of the financial asset give rise on specified dates to cash flows that are SPPI on the principal amount outstanding. ▪ at fair value through profit or loss (FVTPL) unless it is classified in the previous categories.

29 Also IFRS 9 4.1.4 provides the option to measure particular investments in equity instruments at fair value through other comprehensive income (OCI option). Changes in value are then recognized immediately and in full in other comprehensive income. The Group generally exercises this option. For the purpose of the above classification: ▪ principal is the fair value of the financial asset at initial recognition ▪ interest consists of consideration for the time value of money, for the credit risk associated with the principal amount outstanding during a particular period of time and for other basic lending risks and costs, as well as a profit margin. Standard purchases and sales of financial assets are recognized on the settlement-date, on the date when the financial asset is actually settled ('settlement date accounting'). Financial assets are initially recognized at fair value plus transaction costs for all financial assets not carried at fair value through profit or loss. Financial assets carried at fair value through profit or loss are initially recognized at fair value, and transaction costs are expensed in the Profit for the period. Financial assets are derecognized when the rights to receive cash flows from the investments have expired or have been transferred. Financial assets have been transferred when the contractual rights to receive cash flows of the financial assets have been transferred or the contractual rights to receive cash flows of the financial assets have been retained but there is a contractual obligation to pay the cash flows to one or more recipients in an arrangement compliant with the conditions set out by IFRS 9. Any gains or losses on derecognition are recognized in Profit for the period and are calculated as the difference between (a) the sum of the consideration received and any cumulative gain or loss that had been recognized in other comprehensive income and (b) the carrying amount derecognized with an exception for equity instruments for which the Group exercises the option of measurement at Fair Value through other comprehensive income in which case gains or losses are recognized directly to retained earnings. 4.1.1 Impairment of financial assets Depending on the business model of the Group and the characteristics of the contractual cash flows of the financial assets, financial assets are subsequently measured at amortized cost, at fair value through other comprehensive income or at fair value through profit or loss. A loss allowance must be recognized for financial assets measured at amortized cost and at fair value through other comprehensive income except when the OCI option was applied. The loss allowance must be recognized through profit or loss and reduces the carrying amount of the relevant financial asset measured at amortized cost; while in the case of financial assets measured at fair value through other comprehensive income where applicable, the corresponding offsetting entry is recognized in other comprehensive income and does not reduce the carrying amount of the financial asset. Loss allowances must also be recognized for lease receivables as defined in IFRS 16, contract assets as defined in IFRS 15, financial guarantee contracts and loan commitments relating to loans bearing an off-market interest rate. If the credit risk arising from the financial asset has increased significantly since initial recognition, the loss allowance must be measured at an amount equal to the lifetime expected credit losses. Lifetime expected credit losses are the expected credit losses that result from all possible default events over the expected life of a financial instrument. If the credit risk arising from the financial asset has not increased significantly since initial recognition, the loss allowance must be measured at an amount equal to the 12-month expected credit losses. The 12-month expected credit losses represent the total expected credit losses that result from default events on a financial instrument that are possible within the twelve months after the reporting date, weighted by the likelihood that a default event will occur during that period. Based on the changes in credit risk, it must be assessed at each reporting date whether the current loss allowance must be measured at an amount equal to the lifetime expected credit losses based on historical data and forward-looking considerations driven by the expected macroeconomic tendencies (unemployment rates, credit crisis, inflation, national and international statistics, governmental intervention, publications of the National Bank of Hungary ) or at an amount equal to the 12-month expected credit losses in accordance with the criteria above. Indicators that may sign a significant increase in the credit risk: ▪ Contractual payments are more than 30 days past due ▪ Change in external/internal rating ▪ Changes in market conditions that could influence payment obligations ▪ Financial difficulties of the borrower that significantly alter its creditworthiness ▪ Adverse changes in business, financial, or economic conditions, i.e. increase in interest rates or unemployment rates

30 Indicators for default event support the uncollectible classification in credit risk: ▪ The financial asset is more than 90 days overdue ▪ The counterparty repeatedly fails to meet payment obligations and the service is blocked (contract was not yet terminated) ▪ The counterparty is over the credit limit with unpaid invoices and fails to pay despite repeated demands ▪ The counterparty applies for insolvency protection proceedings ▪ In addition to the above quantitative aspects, qualitative aspects should also be taken into account in the evaluation, such as e.g. non-compliance with covenants The simplified and the general approaches are to be applied to assess and account for credit losses. ▪ Simplified approach All financial instruments underlying simplified approach are measured with lifetime expected credit loss based on historical data and forward-looking considerations driven by the expected macroeconomic tendencies. Therefore, except for insolvency, neither any indicators for increase in credit risk nor any default events are relevant within the simplified approach. The simplified approach is applicable for trade receivables, contract assets and lease receivables without a significant financial component. The Group has chosen to use the simplified approach for these receivables with a significant financial component as well. ▪ General approach According to the expected credit loss model the financial instruments are classified into three buckets. The classification into the three buckets is based upon the changes of the credit risk for the financial asset. A relative credit risk model is used for the evaluation of an increased credit risk. The significant increase of credit risk in comparison to the initial recognition is reflected in the transfer of the financial instrument between the buckets. According to the expected credit risk model the impairment is determined differently for the three buckets. The impairment for financial instruments in bucket 1 is calculated based upon the 12-months expected credit loss. The impairment for financial instruments in bucket 2 and 3 is calculated based upon the lifetime expected credit losses. The general approach is applied for bank accounts, factoring receivables, other financial receivables and employee loans, which financial instruments are classified into bucket 1. Factoring of trade receivables is generally without recourse that results in derecognition of trade receivables and recognition of other receivables from factoring. For further information see Note 4.2.4.3.

31 4.1.2 Financial assets measured at amortized cost The following items are assigned to this category: ▪ cash and cash equivalents; ▪ bank deposits over three months; ▪ trade receivables; ▪ other receivables. Financial assets at amortized cost are initially recognized at fair value and subsequently carried at amortized cost using the effective interest method, relevant only for the receivables with long-term maturity, considered to be not material for financial assets within one year. Cash and cash equivalents Cash and cash equivalents include cash on hand and in banks, and all highly liquid deposits and securities with original maturities of three months or less and exclude all overdrafts. Bank deposits with original maturities over 3 months Bank deposits with original maturities over 3 months include bank deposits and other liquid deposits and securities with original maturities over three months. Trade receivables Receivables with similar credit risk characteristics assessed collectively for impairment, based on business segments (residential, business, wholesale and other category), type of service delivered (telco and SI/IT services), installment receivables and governmental institutions including local governments. Impairment and subsequent recoveries of amounts previously written off are accounted for against the period’s as Impairment losses and gains on financial assets and contract assets as part of Direct costs in the statement of Profit or loss statement. 4.1.3 Financial assets at fair value through other comprehensive income (FVOCI) The “financial assets at fair value through other comprehensive income” measurement category includes the following financial assets: ▪ listed and unlisted equity instruments that are neither fully consolidated nor included using the equity method in the consolidated financial statements, not held for trading and OCI option has been applied; ▪ debt instruments within a business model whose objective is achieved by both collecting contractual cash flows that are solely payments of principals and interests and selling financial assets. Equity instruments at fair value through other comprehensive income where OCI option was applied The OCI option may only be applied for the equity instrument in its entirety, and only at initial recognition of the equity instrument in question. In the event of exercise, measurement does not give rise to effects on profit or loss. However, dividends are recognized in profit or loss. Equity instruments at fair value through other comprehensive income are initially recognized at fair value and are also subsequently carried at fair value. The unrealized changes in the fair value of financial assets at fair value through other comprehensive income are recognized in equity, in the Revaluation reserve for FVOCI financial assets. When equity instruments classified as financial assets at fair value through other comprehensive income are sold, the accumulated fair value adjustments recognized in equity before are recognized directly to retained earnings. Debt instruments at fair value through other comprehensive income The Group does not classify any financial assets as a debt instruments at fair value through other comprehensive income based on the SPPI test.

32 4.1.4 Financial assets at fair value through profit or loss (FVTPL) Financial instruments which do not meet the conditions set out to be initially classified either at amortized cost or at fair value through other comprehensive income must be measured at fair value through profit or loss. The “financial assets at fair value through profit or loss” measurement category includes the following financial assets: ▪ Debt instruments that are designated as “at fair value through profit or loss” using the fair value option. ▪ Equity instruments acquired for the purpose of selling immediately or in the near term and thus classified as “held for trading” and equity instruments not held for trading where the OCI option has not been applied. ▪ Derivative financial assets. ▪ Debt instruments not fulfilling conditions of either financial assets at amortized cost or financial assets at fair value through other comprehensive income. Financial assets at fair value through profit or loss are subsequently carried at fair value. Gains or losses arising from changes in the fair value of the financial assets at fair value through profit or loss category are recognized in the profit or loss in the period in which they arise. 4.2 Financial assets in the statement of financial position 4.2.1 Cash and cash equivalents Cash and cash equivalents include cash on hand and in banks, and all highly liquid deposits and securities with original maturities of three months or less and exclude all overdrafts. These financial assets are exposed to credit risks, for which see more details in Note 5.1.2. Based on the impairment test no impairment had to be recognized for any of these balances in the reported years. 12.31.2021 12.31.2022 Cash on hand ............................................................................................................... 97 296 Cash in bank (demand deposits) ............................................................................. 13,312 12,356 Bank deposits with original maturities less than 3 months................................ 54 209 Cash and cash equivalents .............................................................................. 13,463 12,861 Average interest rates 12.31.2021 12.31.2022 Cash on hand ............................................................................................................... 0.00% 0.00% Cash in bank (demand deposits) ............................................................................. 0.10% 0.52% Bank deposits with original maturities less than 3 months................................ 0.00% 0.05% Average interest rate ...................................................................................... 0.10% 0.50% Cash and cash equivalents by currency 12.31.2021 12.31.2022 EUR................................................................................................................................ 6,806 6,495 MKD .............................................................................................................................. 2,962 2,335 HUF ............................................................................................................................... 2,397 2,261 RON ............................................................................................................................... 1,007 1,278 USD ............................................................................................................................... 255 296 Other ............................................................................................................................. 36 196 Total ................................................................................................................. 13,463 12,861 Cash and cash equivalents by country of location 12.31.2021 12.31.2022 North Macedonia ........................................................................................................ 9,257 7,980 Hungary ........................................................................................................................ 3,052 3,274 Other countries ........................................................................................................... 1,154 1,607 13,463 12,861

33 4.2.2 Trade receivables within one year 4.2.2.1 Trade receivables within one year – carrying amounts The carrying amounts of trade receivables are shown net of impairment losses charged as of the financial statement dates. 12.31.2021 12.31.2022 Trade receivables from third parties ...................................................................... 152,644 163,590 Trade receivables from Deutsche Telekom Group companies ......................... 5,543 7,993 Trade receivables ............................................................................................ 158,187 171,583 Age profile of Trade receivables The following tables show the age profile of the Group’s gross trade receivables by country of operation by days outstanding. 12.31.2022 Hungary North-Macedonia Other countries Total - of which not past due .......................... 141,719 15,204 1,756 158,679 - of which past due by less than 30 days ...................... 14,067 2,418 59 16,544 30–60 days ................................ 3,347 470 48 3,865 61–90 days ................................ 1,078 229 56 1,363 91–180 days ............................. 1,759 390 21 2,170 181–360 days ........................... 1,627 539 28 2,194 over 360 days ............................ 4,348 11,987 279 16,614 - customers under bankruptcy ............ 662 516 - 1,178 Gross amount ......................................... 168,607 31,753 2,247 202,607 12.31.2021 Hungary North-Macedonia Other countries Total - of which not past due ........................ 129,069 12,827 1,202 143,098 - of which past due by less than 30 days .................... 16,431 1,951 241 18,623 30–60 days .............................. 2,810 370 21 3,201 61–90 days .............................. 1,178 150 53 1,381 91–180 days ........................... 1,771 295 15 2,081 181–360 days ......................... 2,050 541 17 2,608 over 360 days .......................... 3,983 10,872 194 15,049 - customers under bankruptcy .......... 591 616 - 1,207 Gross amount ...................................... 157,883 27,622 1,743 187,248 The vast majority of trade receivables is impaired on a portfolio basis. The vast majority of past due trade receivables is partly or fully impaired depending on the period of delay of payments.

34 4.2.2.2 Impairment losses of trade receivables and contract assets The table below shows the impairment losses and changes of trade receivables based on the lifetime expected credit losses therein for 2021 and 2022. 12.31.2021 12.31.2022 Impairment loss, beginning of period .................................................................... 28,978 31,335 Charged to expense – net (included in Direct costs) .......................................... 9,450 7,031 Translation difference ............................................................................................... 133 1,052 Utilized (a) .................................................................................................................... (7,226) (5,656) Impairment loss, end of period ....................................................................... 31,335 33,762 (a) Utilized means reversed on derecognition (settlement, write-off or factoring). The tables below show the age profile of trade receivables allowances based on lifetime expected credit losses by country of operation by days outstanding. 12.31.2022 Hungary North-Macedonia Other countries Total - of which not past due .......................... 10,811 253 - 11,064 - of which past due by less than 30 days ...................... 988 73 - 1,061 30–60 days ................................ 956 73 4 1,033 61–90 days ................................ 461 57 5 523 91–180 days ............................. 1,111 196 8 1,315 181–360 days ........................... 1,307 312 17 1,636 over 360 days ............................ 4,369 11,345 238 15,952 - customers under bankruptcy ............ 662 516 - 1,178 Allowances ............................................. 20,665 12,825 272 33,762 12.31.2021 Hungary North-Macedonia Other countries Total - of which not past due .......................... 9,588 237 - 9,825 - of which past due by less than 30 days ...................... 1,090 63 - 1,153 30–60 days ................................ 771 58 1 830 61–90 days ................................ 636 41 2 679 91–180 days ............................. 1,199 124 4 1,327 181–360 days ........................... 1,587 264 9 1,860 over 360 days ............................ 3,857 10,403 194 14,454 - customers under of bankruptcy ....... 591 616 - 1,207 Allowance .............................................. 19,319 11,806 210 31,335

35 The table below shows the impairment losses and changes of contract assets based on the lifetime expected credit losses therein for 2021 and 2022. 12.31.2021 12.31.2022 Impairment loss, beginning of period..................................................................... 2,215 2,208 Charged to expense – net (included in Direct costs) .......................................... 1,562 2,179 Translation difference ............................................................................................... 8 53 Utilized (a) .................................................................................................................... (1,577) (1,952) Impairment loss, end of period ....................................................................... 2,208 2,488 The tables below includes the impairment losses based on the lifetime expected credit losses and the changes therein in 2021 and 2022 for the countries of operation of the Group. 01.01.2022 Charged to expense Translation difference (and rounding) Utilized (a) 12.31.2022 Hungary ................................................. 20,915 7,897 10 (6,308) 22,514 North Macedonia ................................. 12,416 1,257 1,078 (1,287) 13,464 Other countries .................................... 212 56 17 (13) 272 Group ................................................ 33,543 9,210 1,105 (7,608) 36,250 01.01.2021 Charged to expense Translation difference (and rounding) Utilized (a) 12.31.2021 Hungary ................................................ 18,385 9,816 (1) (7,285) 20,915 North Macedonia ................................ 12,589 1,089 141 (1,403) 12,416 Other countries ................................... 219 107 1 (115) 212 Group ............................................... 31,193 11,012 141 (8,803) 33,543 (a) Utilized means reversed on derecognition (settlement, write-off or factoring). See also Note 5.1.2 for further analysis of credit risks related to Trade receivables.

36 4.2.3 Derivative financial instruments contracted with related parties Derivatives contracted with related parties include cross-currency interest rate swaps and FX forwards concluded with DT AG to change the Group’s exposure to HUF in the case of the EUR-denominated loans and to cover FX needs of expected future foreign currency outflows (see more details in Note 2.2.2, 4.5.1.1, 5.1.1.1 and 5.1.1.2). The table below show the class breakdown: 12.31.2021 12.31.2022 Cross currency and interest rate swaps (non-current) ............................................... 16,415 31,723 Forward deals (current) ..................................................................................................... 300 - Total derivative financial instruments contracted with related parties ............. 16,715 31,723 4.2.4 Other financial assets Other financial assets include receivables due within 12 months (current) and due after 12 months (non-current) from the end of the reporting period (financial statement date). These financial assets are exposed to credit risks, for which see more details in Note 5.1.2. The impairment loss recognized or reversed for other current and non-current financial assets is not material. 4.2.4.1 Other current financial assets 12.31.2021 12.31.2022 Receivables from asset-related grants ........................................................... (a) 3,507 838 Finance lease receivable .................................................................................... (b) 331 286 Bank deposits with original maturities over 3 months ................................. (c) 4,061 - Other ...................................................................................................................... 1,220 665 Total............................................................................................................ (e) 9,119 1,789 For the explanations of (a)-(e) points see Note 4.2.4.2. 4.2.4.2 Other non-current financial assets 12.31.2021 12.31.2022 Equity instruments .............................................................................................. (d) 2,473 2,740 Finance lease receivable .................................................................................... (b) 565 481 Other ...................................................................................................................... 730 575 Total............................................................................................................ (e) 3,768 3,796 (a) Starting from 2016 HUF 11.6 billion of EU funds were utilized by Magyar Telekom. The first and second rounds of the tender aimed to develop digital networks nationwide to cover households in Western and Eastern parts of Hungary with a fixed network capable of reaching a speed of at least 30 Mbps. Magyar Telekom Plc. received HUF 10.8 billion grant related to EU fund in advance from which HUF 5 million has not been used yet. Magyar Telekom Plc. accomplished a number of investments which complied with the condition of the related EU Funding Contracts. With respect to these completed investments the amount of the grant which has not been financially settled yet is presented as receivable. For those investments where the conditions have not been satisfied yet, the advances received are shown as part of Other current liabilities (Unused advance payments for asset related grants). 12.31.2021 12.31.2022 Accumulated grant recognized in PPE ................................................................ 11,683 11,635 Accumulated advance payments received (Note 14) ...................................... 8,188 10,802 Unused advance payments for asset-related grants (Note 14) ..................... 12 5 Asset-related grants receivables .......................................................................... 3,507 838

37 (b) See Note 17.2.1 for more information on Finance lease receivable. (c) Bank deposits with original maturities over 3 months were deposited in North Macedonia predominantly in euro. They amounted to zero as at December 31, 2022 (2021: HUF 4,061 million). (d) The Group has got a 50% participation in E2 Hungary Zrt, the former Joint Venture of the Group, meanwhile has no significant influence over the company due to the agreement with the other investor MET Holding AG (MET) (from January 2023 the other owner is MET Sales and Trading Holding AG). Based on the terms of the agreement the equity instrument was designated as a financial asset measured at fair value through profit or loss. Due to that particular agreement also MET has got a call option on E2 Hungary Zrt, which was recognized as a financial liability measured at fair value through profit or loss accordingly. Maktel has some other insignificant investments in equity securities measured at fair value through other comprehensive income. (e) Derivative financial instruments contracted with related parties are presented in a separate note. For further information see Notes 2.2.1 and 4.2.3. The estimated expected credit loss on other current and non-current financial assets considered to be not material and not recognized. 4.2.4.3 Trade receivables over one year Trade receivables over one year (HUF 22,806 million as at December 31, 2022 and HUF 18,953 million December 31, 2021) include receivables from customers paying over one to two years in installments for telecommunications equipment sold. The expected credit losses of trade receivables over one year amounted to HUF 2,736 million as at December 31, 2022 (2021: HUF 2,273 million). For further information see Note 3.3. 4.3 Financial liabilities – accounting policies There are two measurement categories for financial liabilities used by the Group: ▪ Financial liabilities carried at amortized cost ▪ Financial liabilities at fair value through profit or loss Both types of financial liabilities are initially recognized at fair value, while subsequent measurements are different (see below). A financial liability except lease liabilities (see Note 17) is derecognized (or a part of a financial liability) from the Statement of financial position when, and only when, it is extinguished– i.e. when the obligation specified in the contract is discharged, cancelled or expired. 4.3.1 Financial liabilities carried at amortized cost The measurement category for “financial liabilities measured at amortized cost” includes all financial liabilities not classified as “at fair value through profit or loss”. Loans and other financial liabilities Loans and other financial liabilities are recognized initially at fair value less transaction costs, and subsequently measured at amortized costs using the effective interest rate method. The effective interest is recognized in the Profit for the period (Interest expense) over the period of the liabilities. Trade and other payables Trade and other payables (including accruals) are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method. Bonds Bonds are recognized initially at fair value less transaction cost and subsequently measured at amortized cost using the effective interest rate method.

38 4.3.2 Financial liabilities at fair value through profit or loss Derivative financial instruments and contingent considerations are measured under at fair value through profit or loss model. The Group currently has no intention of measuring non-derivative financial liabilities at fair value. Contingent consideration recognized by the Group as acquirer in a business combination to which IFRS 3 applies will subsequently be measured at fair value through profit or loss. Derivatives are initially recognized at fair value at the date a derivative contract is entered into and their fair values are re- measured at subsequent balance sheet dates. The Group does not apply hedge accounting for its financial instruments therefore all gains and losses are recognized in the Profit for the period (Other finance expense – net). 4.4 Financial liabilities in the statement of financial position 4.4.1 Financial liabilities to related parties Financial liabilities to related parties include HUF and EUR-denominated loans taken from DT Group and cashpool liabilities. In addition, for the whole nominal amount and interest payment of loans denominated in EUR granted by DT AG, the Group have cross-currency interest rate swap agreements in place (with DT AG) so that Magyar Telekom’s exposure in fact remains in HUF. Swapped HUF interest rates are fixed (2.69% and 2.08%). For further information please see Note 32.1.1. The tables below show the details of the financial liabilities towards Deutsche Telekom Group members as at December 31, 2022 and 2021. 12.31.2022 Carrying amount (HUF million) Lender Contract ed currency Effective interest rate (%) Interest- formula Fixed / floating Maturity Original term 20,000 DT AG HUF 13.27% fix: 13.27% fixed July 2023 1 year 20,012 DT AG EUR 3.01% 1 m EURIBOR +1.11% floating Nov 2023 1 year 12,008 DT AG EUR 3.06% 3 m EURIBOR +1.09% floating Dec 2023 1 year 1,510 DT AG USD 4.02% * Cashpool N/A 11,085 DT AG HUF 18.28% * Cashpool N/A (732) DT AG EUR 1.65% * Cashpool N/A Due within 1 year ............. 63,883 Accrued interest** ............. 1,699 Other financial liabilities ... 118 Total current .................... 65,700 48,030 DT AG EUR 3.17% 6 m EURIBOR +0.826333% floating May 2024 5 years 50,031 DT AG EUR 1.25% 6 m EURIBOR +1.02879% floating Jan 2025 5 years Total non-current ............. 98,061 *Interest rates are defined by DT AG on monthly basis. **Accrued interest shows the aggregated discount value of DT loans’s amortized cost while the loans separately show the principals of that particular loan. The whole amount of all DT loans is due on the expiring date. As at December 31, 2022 current liabilities exceed current assets by HUF 64,784 million, primarily due to the short-term loan facilities received from DT AG that were taken to finance working capital and daily ongoing activities. Management believes that short-term liabilities from DT AG will be refinanced in a similar manner to previous years. Financing needs will also be covered by cash flows generated by operating activities and third party credit line facilities (see Note 5.1.3).

39 12.31.2021 Carrying amount (HUF million) Lender Currency Effective interest rate (%) Interest- formula Fixed / floating Maturity Original term 29,520 DT AG EUR 0.00% 1 m EURIBOR +0,564% floating July 2022 1 year 1,579 DT AG USD 0.34% * Cashpool N/A 5,596 DT AG HUF 1.98% * Cashpool N/A 1,158 DT AG EUR 0.27% * Cashpool N/A Due within 1 year .......... 37,853 Accrued interest** .......... 130 Other financial liabilities 84 Total current ................. 38,067 44,280 DT AG EUR 0.30% 6 m EURIBOR +0.826333% floating May 2024 5 years 46,125 DT AG EUR 0.52% 6 m EURIBOR +1.02879% floating Jan 2025 5 years Total non-current.......... 90,405 *Interest rates are defined by DT AG on monthly basis. **Accrued interest shows the aggregated discount value of DT loans’s amortized cost while the loans separately show the principals of the particular loan. The whole amount of all DT loans is due on the expiring date. The table below shows the carrying amounts and fair values of the related-party loans. 12.31.2021 12.31.2022 Book value Fair value Book value Fair value HUF denominated loans At fixed rate ......................................................... - - 20,000 20,000 At floating rate .................................................... 5,596 5,596 11,085 11,085 5,596 5,596 31,085 31,085 EUR denominated loans At fixed rate ......................................................... - - - - At floating rate .................................................... 121,083 121,083 129,349 130,825 121,083 121,083 129,349 130,825 USD denominated loans At fixed rate ......................................................... - - - - At floating rate .................................................... 1,579 1,579 1,510 1,510 1,579 1,579 1,510 1,510 Accrued interest ..................................................... 130 130 1,699 1,699 Other financial liabilities ....................................... 84 84 118 118 Total related-party financial liabilities............ 128,472 128,472 163,761 165,237 The weighted-average interest rate on related-party loans was 4.85% in 2022 (0.38% in 2021). Any decrease in market interest rates will result in an increase in the fair value of the fixed interest rate liabilities. There were no defaults or breaches in connection with the financial liabilities to related parties.

40 4.4.2 Bonds In 2020 Magyar Telekom has initiated a review of its external funding framework in order to diversify and enhance the maturity profile of the Company’s debt portfolio. Accordingly, the Company participated in the Bond Funding for Growth Scheme (“Scheme” or “BGS”) of the National Bank of Hungary and obtained funding sources with competitive pricing. In order to increase the liquidity of the corporate bond market, the MNB launched Scheme from July 1, 2019, supplementing its unconventional monetary policy tools and the fixed Growth Loan Program. The proceeds of the bonds are used to fund investments into the fixed and mobile network roll-out and modernization (including the acquisition of new frequencies). The issued bonds amounted to HUF 70 billion at face value were purchased for a total purchase price of HUF 70.83 billion by the attendees at the closed auction on November 24, 2020. The total purchase price was transferred to the Company by the attendees on November 26, 2020. Subsequently Magyar Telekom 2027 HUF Bonds were listed on the BSE XBond multilateral trading platform on December 17, 2020 and are available for trading in the XBond platform from December 21, 2020 (first trading day). The table below shows the main parameters: Bond code Magyar Telekom 2027 HUF Bond Bond expiries: HUF 35 billion.................................................................. November 26, 2026 HUF 35 billion.................................................................. November 26, 2027 Interest type....................................................................... Fixed interest Coupon (Nominal interest rate) ..................................... 1.45% Yield ..................................................................................... 1.26% Effective interest rate ...................................................... 1.95% At December 31, 2022 the carrying amount of bonds is HUF 68,531 million (at December 31, 2021 HUF 68,215 million). For further information please see Note 4.4.4.3 and 15. 4.4.3 Derivative financial liabilities contracted with related parties Derivatives contracted with related parties include FX forwards concluded with DT AG to cover FX needs of expected future foreign currency outflows (see more details in Notes 2.2.1, 4.5.1.2, 5.1.1.1 and 5.1.1.2). At December 31, 2022 the carrying amount of derivative financial liabilities contracted with related parties is HUF 2,035 million (at December 31, 2021 HUF 20 million).

41 4.4.4 Other financial liabilities 4.4.4.1 Other financial liabilities - Balances The tables below show the current and non-current balances of Other financial liabilities. 12.31.2021 12.31.2022 Frequency fees payable ..................................................................................... (a) 49,759 5,420 Debtor overpayment .......................................................................................... 1,394 1,277 Contingent consideration liabilities ................................................................. (b) 150 - Other ...................................................................................................................... 4,123 5,023 Total other financial liabilities – current .................................................. 55,426 11,720 12.31.2021 12.31.2022 Frequency fees payable ..................................................................................... (a) 106,323 101,242 Other ...................................................................................................................... 2,908 2,676 Total other financial liabilities – non-current .......................................... 109,231 103,918 There were no defaults or breaches in connection with other financial liabilities. (a) The present value of the future annual band fees payable is recognized as part of the carrying amount of the licenses as intangible assets, with corresponding current and non-current financial liabilities. New frequency blocks were acquired in January 2021, which entitled Magyar Telekom for the usage of these from April 2022 until March 2042. A one-time spectrum fee in the amount of HUF 44.28 billion was paid for these frequency blocks in April 2022. For more details see also Notes 10.2, 10.5 and 34.2. (b) Contingent consideration liabilities are recognized by Magyar Telekom as the acquirer in a business combination to which IFRS 3 applies. They are measured at fair value through profit or loss. 4.4.4.2 Proceeds/repayments of loans and other borrowings Cash proceeds/payments for related-party loans are included in the Proceeds from loans and other borrowings/Repayment of loans and other borrowings line of the Statements of cash flows. 4.4.4.3 Additional disclosure about changes in liabilities arising from financing activities The following table includes changes in net debt reconciled with their effects on the Consolidated statement of cash flows in order to enable users of financial statements to evaluate changes in liabilities arising from financing activities. Changes in financial liabilities without cash movement are mainly due to the increase in liabilities related to lease liabilities (see Note 9.2) and the FX effects of financial liabilities denominated mainly in EUR and transactions where future cash flows are recognized at the present value of the annual fees payable.

42 Changes in cash and cash equivalents Changes affecting cash flows from operating activities Changes in financial liabilities without cash movement Changes affecting cash flows from investing activities Changes affecting cash flows from financing activities Opening Balance at January 1, 2022 Proceeds from loans and borrowings Repayment of loans and other borrowings Proceeds from bonds Repayment of other financial liabilities Other Closing Balance at December 31, 2022 Related-party loans .................... 128,472 - (606) 16,051 - 157,824 (137,980) - - - 163,761 Derivatives from related parties 20 - - 2,243 (228) - - - - - 2,035 Frequency fees payable............. 156,082 - (6,071) 4,630 - - - - (47,979) - 106,662 Bonds ........................................... 68,215 - (1,015) 1,331 - - - - - - 68,531 Lease liabilities............................ 134,404 - (6,114) 39,222 - - - - (25,909) - 141,603 Debtors overpayment ................ 1,394 - (117) - - - - - - - 1,277 Contingent consideration .......... 150 - - - - - - (150) - - Other financial liabilities ............ 7,031 - (2,200) 6,438 - - - - (3,570) - 7,699 - Less cash and cash equivalents ........................ (13,463) 602 - - - - - - - - (12,861) - Less other current financial assets ................................. (9,419) - (2,065) (6,122) 15,817 - - - - - (1,789) Net debt .................................... 472,886 602 (18,188) 63,793 15,589 157,824 (137,980) - (77,608) - 476,918 Treasury share purchase ...................................................................................................................................................................................................................................................... (14,609) Dividends paid to Owners of the parent and Non-controlling interest ........................................................................................................................................................................... (19,486) Net cash used in financing activities ..................................................................................................................................................................................................................... (91,859)

43 Changes in cash and cash equivalents Changes affecting cash flows from operating activities Changes in financial liabilities without cash movement Changes affecting cash flows from investing activities Changes affecting cash flows from financing activities Opening Balance at January 1, 2021 Proceeds from loans and borrowings Repayment of loans and other borrowings Proceeds from bonds Repayment of other financial liabilities Other Closing Balance at December 31, 2021 Related-party loans .................... 187,793 - (5,040) 2,224 - 166,931 (223,436) - - - 128,472 Derivatives from related parties 13 - - 736 (729) - - - - - 20 Frequency fees payable............. 76,084 - (3,464) 88,143 - - - - (4,681) - 156,082 Bonds ........................................... 67,904 - (1,015) 1,326 - - - - - - 68,215 Lease liabilities............................ 132,532 - (4,717) 26,635 - - - - (20,046) - 134,404 Debtors overpayment ................ 1,309 - 85 - - - - - - - 1,394 Contingent consideration .......... 427 - - (97) (180) - - - - - 150 Other financial liabilities ............ 8,547 - (2,531) 5,260 - - - - (4,245) - 7,031 - Less cash and cash equivalents ........................ (14,689) 1,226 - - - - - - - - (13,463) - Less other current financial assets ................................. (42,487) - (1,757) 1,790 13,267 19,768 - - - - (9,419) Net debt .................................... 417,433 1,226 (18,439) 126,017 12,358 186,699 (223,436) - (28,972) - 472,886 Treasury share purchase ........................................................................................................................................................................................................................................................... (10,215) Dividends paid to Owners of the parent and Non-controlling interest ................................................................................................................................................................................ (18,788) Net cash used in financing activities ......................................................................................................................................................................................................................... (94,712)

44 4.4.5 Trade payables 12.31.2021 12.31.2022 Payables to DT Group companies ........................................................................... 12,089 13,241 Other trade payables ................................................................................................. 129,942 145,545 Total.................................................................................................................. 142,031 158,786 4.5 Additional disclosures on financial instruments 4.5.1 Financial assets and liabilities The Group classifies fair value measurements using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The fair value hierarchy has the following levels: ▪ quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) ▪ inputs other than quoted prices included within Level 1 observable for the asset or liability, either directly or indirectly (Level 2) ▪ inputs for the asset or liability that are not based on observable market data (Level 3) The level in the fair value hierarchy within which the fair value measurement is categorized in its entirety is determined on the basis of the lowest level input that is significant to the fair value measurement in its entirety. The significance of an input is assessed against the fair value measurement in its entirety. There was no transfer between Level 1 and Level 2 financial instruments. Most of the financial assets and financial liabilities are measured at amortized cost, but fair value information is also provided for these. The initial fair value of the MT2027 bond was calculated based on Level 2 information as the bonds did not have an active market. The discount rate was determined based on relevant BIRS rates (Budapest Interest Rate Swap) and a margin estimation based on commercial bank offers during the auction. The fair value of financial instruments that are not traded on an active market is determined by using valuation techniques, mainly by applying the discounted cash flow method. The cash flow estimations are based on the relevant underlying contracts and the discount rates are calculated based on the interest rate benchmarks applicable for the relevant maturities and currencies (BUBOR, BIRS, EURIBOR, EUR IRS). Foreign exchange conversion is made based on central bank FX fixings (preferably that of the National Bank of Hungary). Level 1 information is used for determining fair value of equity instruments designated as financial assets at fair value through other comprehensive income. Level 2 information is available to determine derivatives assets and liabilities. Level 3 information was used for any contingent consideration liabilities based on the terms set up in the agreements. Also level 3 type information is used for valuation of equity instruments designated as financial assets at fair value through profit or loss, and the corresponding liabilities designated as financial liability at fair value through profit or loss. The fair value is determined by applying a Black Scholes model using estimation on the terms and conditions of underlying contracts, peer group WACC and risk free interest rate (see Note 4.2.4.2 for more information). The following tables include the carrying amounts and fair values of the Group’s financial assets and liabilities as at December 31, 2022 and 2021.

45 4.5.1.1 Financial assets – Carrying amounts and fair values 12.31.2022 Carrying amount Amortized cost FVOCI (Level 1) FVTPL (Level 2) FVTPL (Level 3) Total Fair value Cash and cash equivalents ......................... 12,861 - - - 12,861 12,861 Trade receivables within one year ............ 171,583 - - - 171,583 171,583 Trade receivables over one year ................ 22,806 - - - 22,806 19,619 Derivative financial instruments contracted with related parties ................. - - 31,723 - 31,723 31,723 Receivables from group companies ......... 1 - - - 1 1 Finance lease receivable ............................. 767 - - - 767 685 Equity instruments ....................................... - 1,452 - 1,288 2,740 2,740 Receivables from asset-related grants .... 838 - - - 838 838 Other current receivables ........................... 664 - - - 664 664 Other non-current receivables................... 575 - - - 575 494 Total .......................................................... 210,095 1,452 31,723 1,288 244,558 241,208 12.31.2021 Carrying amount Amortized cost FVOCI (Level 1) FVTPL (Level 2) FVTPL (Level 3) Total Fair value Cash and cash equivalents ......................... 13,463 - - - 13,463 13,463 Bank deposits with original maturities over 3 months ............................................... 4,061 - - - 4,061 4,061 Trade receivables within one year ............ 158,187 - - - 158,187 158,187 Trade receivables over one year ................ 18,953 - - - 18,953 17,799 Derivative financial instruments contracted with related parties ................. - - 16,715 - 16,715 16,715 Finance lease receivable ............................. 896 - - - 896 881 Equity instruments ....................................... - 1,292 - 1,181 2,473 2,473 Receivables from asset-related grants .... 3,507 - - - 3,507 3,507 Other current receivables ........................... 1,220 - - - 1,220 1,220 Other non-current receivables................... 730 - - - 730 979 Total ......................................................... 201,017 1,292 16,715 1,181 220,205 219,285 Fair value through profit or loss assets (Level 2) include derivatives, for further information see Note 4.2.3. The fair values of those instruments are based on a discounted cash flow method. The calculation is prepared by Magyar Telekom Plc. based on money market interest rate curves, basis swap points and spot FX rates from Reuters database published on the last working day of the reporting period. The present value of the expected future cash flows is discounted to the reporting date using money market interest rates and basis swap points in the specific currency from Reuters and exchanged to HUF using the spot FX rate. The difference between the HUF present value of the payable and receivable is accounted for as assets or liabilities. Fair value through profit or loss financial assets (Level 3) include the investment in E2 Hungary Zrt. Equity instruments designated as financial assets at fair value through other comprehensive income (Level 1) include insignificant investments in equity instruments, all measured at fair value, which is the North Macedonian stock exchange price of the equity instruments. The carrying values of assets measured at amortized cost with short times to maturity approximate their fair values.

46 4.5.1.2 Financial liabilities – Carrying amounts and fair values Carrying amount Fair value 12.31.2022 Measured at amortized cost FVTPL (Level 2) FVTPL (Level 3) Total Financial liabilities to related parties ..................... 163,761 - - 163,761 165,237 Derivative financial instruments contracted with related parties ............................................................. - 2,035 - 2,035 2,035 Trade payables ........................................................... 158,786 - - 158,786 158,786 Frequency fees payable ........................................... 106,662 - - 106,662 67,122 Bonds ........................................................................... 68,531 - - 68,531 45,622 Lease liabilities ........................................................... 141,603 - - 141,603 116,539 Debtors’ overpayment .............................................. 1,277 - - 1,277 1,277 Other current liabilities............................................. 4,888 - 135 5,023 5,023 Other non-current liabilities .................................... 2,676 - - 2,676 2,412 Total ...................................................................... 648,184 2,035 135 650,354 564,053 Carrying amount Fair value 12.31.2021 Measured at amortized cost FVTPL (Level 2) FVTPL (Level 3) Total Financial liabilities to related parties ...................... 128,472 - - 128,472 128,472 Derivative financial instruments contracted with related parties ............................................................. - 20 - 20 20 Trade payables ............................................................ 142,031 - - 142,031 142,031 Frequency fees payable ............................................ 156,082 - - 156,082 145,425 Bonds ............................................................................ 68,215 - - 68,215 58,070 Lease liabilities ............................................................ 134,404 - - 134,404 132,003 Debtors’ overpayment ............................................... 1,394 - - 1,394 1,394 Contingent consideration liabilities ........................ - - 150 150 150 Other current liabilities.............................................. 4,123 - - 4,123 4,123 Other non-current liabilities ..................................... 2,764 - 144 2,908 2,961 Total ...................................................................... 637,485 20 294 637,799 614,649 Derivatives and liabilities from contingent consideration of a business combination and a liability on a call option where it is applicable are measured at fair value, while all other financial liabilities are measured at amortized cost. Additional fair value information on the loans and other borrowings is provided in Note 4.4.1. The carrying values of the current financial liabilities measured at amortized cost approximate their fair values.

47 4.5.1.3 Financial liabilities carried at fair value determined using level 3 type information Financial instruments which are carried at fair value where the fair value was determined using Level 3 type information are the contingent consideration liabilities and the liability pertaining to the call option under IFRS 9 (see Note 4.5.1). The table below includes the movements of these liabilities. 2021 2022 Opening balance at January 1. .............................................................. 557 294 Remeasurement - recognized in profit or loss (net financial result)............................... 17 (9) - recognized in statement of financial position ................................... (100) - Payment ...................................................................................................... (180) (150) Closing balance at December 31. ................................................... 294 135 4.5.2 Items of net gains and losses arising on financial instruments The tables below include net gains and losses arising on financial instruments in 2022 and 2021. 2022 From subsequent measurement From interest Change in fair value FX gain / (loss) Impairment loss From fee expense Total net gain / (loss) Equity instruments (Level 1) ................................ - 48 - - - 48 Equity instruments (Level 3) ................................ - 106 - - - 106 Financial assets measured at amortized cost ... 1,495 - (2,211) (9,210) (5,057) (14,983) Financial liabilities measured at amortized cost ............................................................................ (16,611) - (22,426) - (29) (39,066) FVTPL financial instruments (Level 2) ................ - 20,450 - - - 20,450 FVTPL financial instruments (Level 3) ................ - 9 - - - 9 Net gain/(loss) on financial instruments ......... (15,116) 20,613 (24,637) (9,210) (5,086) (33,436) 2021 From subsequent measurement From interest Change in fair value FX gain / (loss) Impairment loss From fee expense Total net gain / (loss) Equity instruments (Level 1) ................................ - 443 - - - 443 Equity instruments (Level 3) ................................ - (11) - - - (11) Financial assets measured at amortized cost ... 305 - (745) (11,012) (5,091) (16,543) Financial liabilities measured at amortized cost ............................................................................ (13,130) - (1,314) - (48) (14,492) FVTPL financial instruments (Level 2) ................ - 6,972 - - - 6,972 FVTPL financial instruments (Level 3) ................ - (17) - - - (17) Net gain/(loss) on financial instruments ......... (12,825) 7,387 (2,059) (11,012) (5,139) (23,648) The tables above include the amounts before capitalization of borrowing costs (see Note 24). Impairment losses on Financial assets measured at amortized cost includes all expenses incurred or expected to be incurred in relation to the default of customers and presented as a direct cost in the Statement of profit or loss and other comprehensive income. The amount of Fee expense is mainly connected to transactional fees on financial realization of income (like white check acceptance fee of Hungarian Post, VPOS relevant cost and other various commissions) and other bank charges type fees.

48 4.5.3 Offsetting financial assets and financial liabilities For the financial assets and liabilities subject to enforceable netting arrangements, each agreement between the Group and the counterparty (typically roaming and interconnect partners) allows for net settlement of the relevant trade receivable and payable. The following trade receivables and trade payables are subject to offsetting agreements and are presented after netting in the Consolidated statements of financial position. 12.31.2021 12.31.2022 Trade receivables Trade payables Trade receivables Trade payables Gross amounts of recognized financial instruments ....................... 159,604 143,448 175,123 162,326 Gross amounts of financial instruments set off ................................ (1,417) (1,417) (3,540) (3,540) Net amounts of recognized financial instruments presented in the statement of financial position .............................................. 158,187 142,031 171,583 158,786 4.5.4 Other disclosures about financial instruments Magyar Telekom is also exposed to risks that arise from the possible drawdown of guarantees that in aggregation amounted to a nominal amount of HUF 16.4 billion as at December 31, 2022 (2021: HUF 14.7 billion). In January 2021, Magyar Telekom successfully participated in the auction procedure for the entitlements of frequency use of the 900 MHz and 1800 MHz frequency bands, the precondition of this was the issuance of additional guarantees. Due to the payment of the one-time spectrum fee in April 2022, these guarantees are not applicable. The guarantees were issued by banks on behalf of Magyar Telekom as collateral to secure the fulfillment of the Group’s certain contractual or tender related obligations. The Group has been doing its best to deliver on its contractual obligations and expects to continue to do so in the future. Even so disputes may emerge from time to time with the partners and sometimes these can result in the drawdown of the guarantees. These utilization of the bank guarantees are not related and has no significant effect on the solvency of the Group. For more information see note 4.4.4.1. Magyar Telekom does not hold any material collateral of its financial assets. All financial assets transferred met the criteria of derecognition. The Group does not have compound financial instruments with multiple embedded derivatives.

49 5 FINANCIAL RISK MANAGEMENT 5.1 Financial risk factors Magyar Telekom Plc. is primarily exposed to credit risks related to its financial assets. In addition, the Group is also exposed to risks from movements in exchange rates, interest rates that affect the fair value and/or the cash flows arising from financial assets and liabilities. Financial risk management aims to limit these risks through ongoing operational and finance activities. Selected derivative and non-derivative hedging instruments are also used for this purpose, depending on the risk assessment. Magyar Telekom only hedges the risks that affect the Group’s cash flows, no hedges are concluded to hedge fair values. Derivatives are exclusively used as hedging instruments, i.e., not for trading or other speculative purposes. To reduce the counterparty risk, derivatives are generally only concluded with leading Hungarian or international financial institutions or Deutsche Telekom. Nevertheless, hedge accounting is not applied to such transactions. The detailed descriptions of risks, the management thereof as well as sensitivity analyses are provided below. These sensitivity analyses calculate with reasonably possible changes in the relevant risk variables and their impact on profit before tax. The impacts disclosed below for the reported periods are subject to an average effective income tax rate of approximately 25%, i.e. the impact on Profit for the period would be approximately 75% of the pre tax amount in a year that is free from significant one-off non-deductible pre-tax impacts and significant changes in tax legislations. The potential impacts disclosed (less tax) would be the same on the Group’s Equity. There were no major changes in these risks compared to the previous reporting period. 5.1.1 Market risk Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: ▪ foreign currency risk; ▪ interest rate risk; ▪ price risk. The fundamentals of Magyar Telekom’s financing strategy are established each year by the Board of Directors. The Group’s policy is to borrow centrally using a balanced combination of medium-term and short-term loans and bonds, and fixed and floating interest rates on those liabilities. The Board of Directors has approved two debt protection ratio KPIs, and monitors their fulfillment annually. At the end of 2022 Magyar Telekom fulfilled both criteria; Total Debt to EBITDA ratio of 1.98 in 2022 (2021: 2.15), while the allowed maximum can be 2.8 and EBITDA to Net financial result ratio of 9.99 in 2022, (2021: 17.58), while the allowed minimum can be 3.0. The Group during the implementation of the finance policy and the financial risk management, determine and continuously monitor the foreign exchange, liquidity and counterparty risk management guidelines. Magyar Telekom is exposed to interest and foreign exchange (FX) rate risk associated with its interest-bearing assets and liabilities and anticipated transactions. As the vast majority of the revenue and expenses of the Hungarian entities arise in HUF, the functional currency of the Hungarian entities of Magyar Telekom is HUF. Consequently, Magyar Telekom's objective is to minimize the level of its financial risk applying HUF terms. For the presentation of market risks, sensitivity analyses were also preformed that show the effects of hypothetical changes of relevant risk variables on Profit before tax. These hypothetical changes were modelled to present a reasonably possible change in the relevant risk variables. The periodic effects are determined by relating the hypothetical changes in the risk variables to the balance of financial instruments at the end of the latest reporting period (2022) and the preceding reporting period (2021). The balances at the end of the reporting period are usually representative for the year as a whole; therefore, the impacts are calculated using the year end balances. The methods and assumptions used in the sensitivity calculations did not change significantly compared to the previous period. As a result of a volatile international capital and securities markets, higher fluctuations of the FX and interest rates are also possible.

50 5.1.1.1 Foreign currency risk Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in FX rates. Currency risks primarily arise on financial instruments denominated in a currency that is not the functional currency of the given operating segment of the Group. Differences resulting from the translation of the foreign subsidiaries’ financial statements into the Group’s presentation currency are not taken into consideration. Relevant risk variables are generally all non-functional currencies in which Magyar Telekom has financial instruments. The Hungarian Forint depreciated by approx. 8% against the euro in 2022. In 2020 and 2021 the forint was fluctuating in a 7-12% range against the EUR, in 2022 this range widened significantly to approx. 23%. In order to mitigate FX risk in the case of FX denominated financial instruments, Magyar Telekom minimized its foreign currency borrowings in the past years or covered them with derivative instruments to substantially reduce FX risk. The corporate bond is HUF denominated and thus no foreign currency exposure arises related to this instrument. FX risks arising on loans and related swaps with DT AG Several related party loans taken to finance general needs of the Group from Deutsche Telekom AG (DT AG) are denominated in EUR, while, at the same time, cross-currency interest rate swaps or FX swaps are concluded with Deutsche Telekom AG to fix the actual cash flows of Magyar Telekom in HUF. Even though the Group does not apply hedge accounting, the change in the HUF/EUR exchange rate has limited (net) impact on profit or loss and equity related to the hedged loans and the hedging transactions together. The table below shows the breakdown by currency of loans taken from DT AG: 12.31.2021 12.31.2022 HUF ................................................................................................. - 20,000 EUR ................................................................................................. 119,925 130,082 Total ....................................................................................... 119,925 150,082 Sensitivity analysis A reasonably possible strengthening or weakening of the EUR in the table below against HUF as at the end of the reporting period would have affected the measurement of loans denominated in a foreign currency and increased (+) / decreased (-) equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sales and purchases. As the profit or loss effect would be the same as the equity effect, only the former is disclosed. Profit or loss Strengthening Weakening 12.31.2022 EUR/HUF (20% movement) Loan ................................................................................................................................... (26,016) 26,016 Swap agreements........................................................................................................... 26,399 (26,399) Net effect ............................................................................................................ 383 (383) 12.31.2021 EUR/HUF (10% movement) Loan ................................................................................................................................... (11,993) 11,993 Swap agreements........................................................................................................... 12,242 (12,242) Net effect ............................................................................................................ 249 (249)

51 Other FX exposure The remaining FX exposure of Magyar Telekom is mostly related to (i) holding foreign currency cash balances in its subsidiaries in the Southern and Eastern Europe region, and (ii) operating activities through revenue from, and payments to, international telecommunications operators as well as (iii) capital and operating expenditure contracted with vendors in foreign currency. In line with currency hedging policy, the Company holds sufficient amounts of foreign currencies on its bank accounts or buys foreign currencies through FX forward transactions, the amounts of which are determined considering the balance of short term FX denominated trade and leases payables and trade receivables in the next period in order to hedge the currency risk arising in connection with those assets and liabilities. The Group’s foreign currency denominated liabilities (other than the above described loans) exceed the Group’s foreign currency denominated assets, therefore changes in the functional currencies’ exchange rates would have the following impact on the profit of the Group. The following tables show the breakdown by currency of finance lease receivables, lease liabilities, trade payables and cashpool receivables and liabilities: 12.31.2022 in HUF million EUR USD MKD RON BGN GBP HUF Other Total finance lease receivables...... 60 - - - 177 - 530 - Total lease liabilities......................... 56,756 8 197 - 1,502 - 83,140 - Trade payables .................................. 60,344 5,392 9,258 1,640 535 11 81,549 57 Aggregate balance of cashpool ..... (732) 1,510 - - - - 11,085 - 12.31.2021 in HUF million EUR USD MKD RON BGN GBP HUF Other Total finance lease receivables ..... 60 - - - 205 - 631 - Total lease liabilities........................ 55,830 8 190 - - - 78,376 - Trade payables ................................. 59,305 4,919 4,222 710 262 21 72,538 54 Aggregate balance of cashpool .... 1,158 1,579 - - - - 5,596 - In 2022 80% of trade receivables is denominated in HUF, 11% in MKD, 7% in EUR, 2% in USD and 1% in RON (in 2021 80% in HUF, 10% in MKD, 8% in EUR and 2% in USD). In order to reduce the above exposure, Magyar Telekom occasionally enters into derivative contracts. The negative fair value of the related open short-term forward positions was HUF 0.9 billion liability as of December 31, 2022 (2021: HUF 0.2 billion asset). These positions were opened to mitigate the FX risks of future FX payments exceeding FX income.

52 Sensitivity analysis A reasonably possible strengthening or weakening of the currencies in the table below against HUF and MKD as at the end of the reporting period would have affected the measurement of financial instruments denominated in a foreign currency and increased (+) / decreased (-) equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sales and purchases. As the profit or loss effect would be the same as the equity effect, only the former is disclosed. Profit or loss 12.31.2022 Strengthening Weakening EUR/HUF (20% movement) Net balance of FX denominated trade and lease payables, trade and financial receivables plus bank balances ................................................................................... (10,510) 10,510 Related forward agreements ....................................................................................... 5,524 (5,524) Net effect ............................................................................................................ (4,986) 4,986 USD/HUF (40% movement) Net balance of FX denominated trade and lease payables, trade and financial receivables plus bank balances ................................................................................... (959) 959 Related forward agreements ....................................................................................... 1,553 (1,553) Net effect ............................................................................................................ 594 (594) EUR/MKD (20% movement) Net balance of FX denominated trade and lease payables, trade and financial receivables plus bank balances ................................................................................... (292) 292 Related forward agreements ....................................................................................... - - Net effect ............................................................................................................ (292) 292 USD/MKD (20% movement) Net balance of FX denominated trade and lease payables, trade and financial receivables plus bank balances ................................................................................... (84) 84 Related forward agreements ....................................................................................... - - Net effect ............................................................................................................ (84) 84

53 Profit or loss 12.31.2021 Strengthening Weakening EUR/HUF (10% movement) Net balance of FX denominated trade and lease payables, trade and financial receivables plus bank balances ................................................................................... (4,014) 4,014 Related forward agreements ....................................................................................... 4,356 (4,356) Net effect ............................................................................................................ 342 (342) USD/HUF (15% movement) Net balance of FX denominated trade and lease payables, trade and financial receivables plus bank balances ................................................................................... (589) 589 Related forward agreements ....................................................................................... 722 (722) Net effect ............................................................................................................ 133 (133) EUR/MKD (10% movement) Net balance of FX denominated trade and lease payables, trade and financial receivables plus bank balances ................................................................................... 474 (474) Related forward agreements ....................................................................................... - - Net effect ............................................................................................................ 474 (474) USD/MKD (15% movement) Net balance of FX denominated trade and lease payables, trade and financial receivables plus bank balances ................................................................................... 20 (20) Related forward agreements ....................................................................................... - - Net effect ............................................................................................................ 20 (20) As a result of the volatile international money markets, even a more than 20% fluctuation of the functional currency HUF against EUR and a more than 40% against USD is possible while a more than 20% fluctuation of the functional currency MKD against the EUR and more than 20% against USD is possible as extraordinary market conditions may cause extreme volatility on FX markets.

54 5.1.1.2 Interest rate risk Magyar Telekom is also exposed to interest rate fluctuations: BUBOR, ESTR, EURIBOR, SOFR and USD LIBOR. This is due to the fact that changing interest rates affect the fair value of the fixed rate instruments and also affect the cash flows through the floating rate instruments. Changes in the market interest rates of non-derivative financial instruments with fixed interest rates only affect income if these are measured at their fair value. On the other hand, all financial instruments with fixed interest rates which are carried at amortized cost are not subject to cash flow interest rate risk as defined in IFRS 7. Changes in the market interest rate of interest rate derivatives (interest rate swaps, cross-currency swaps) that are not part of a hedging relationship as set out in IFRS 9 affect Other finance expense - net (net gain/loss from re-measurement of the financial assets and liabilities to fair value). Changes in market interest rates affect the interest income or expense of non-derivative floating-interest financial instruments for which no cash flow hedges are in place. Financial assets Excess cash of the Group’s Hungarian operations is primarily used to repay loans, however, significant amount of cash of the Group’s Macedonian subsidiary is mostly held in local banks. These amounts are deposited primarily on fixed interest rate terms in order to minimize exposure to market changes that would potentially adversely affect the cash flows from these instruments. Due to the extremely low interest rates, even a reasonably possible change in the interest rates would not have a significant impact on the Group’s interest income. Financial liabilities Financial liabilities exposed to interest rate risk are primarily the related-party (DT AG) and the related swap agreements in place. These loans are almost exclusively taken by the Magyar Telekom Plc as the financing of the Group is managed centrally. The analysis below describes the Group’s net exposure to the net interest rate risks related to the loans and the related swap agreements. As the vast majority of the debt portfolio is denominated in HUF, or swap agreements are in place so that the loans payable are exposed to changes in HUF interest rates, the Group is mostly exposed to the HUF interest rate fluctuations for its financial liabilities. To control this interest rate risk, a combination of fixed and floating rate debt is used. Fixed interest-bearing debts (including loans swapped to fixed interest and excluding loans swapped to floating interest) made up 81% of the Group’s total debt as of December 31, 2022 (2021: 81%).

55 Cash flow sensitivity analysis for variable rate instruments Floating interest-bearing debts (including loans swapped to floating interest and excluding loans swapped to fixed interest) made up 19% of the Group’s total debt as of December 31, 2022 (2021: 19%). A reasonably possible change of 200 basis points in interest rates (300 bp in 2021) during the reporting period (assuming the year-end balance throughout the reporting period) would have increased (decreased) equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular foreign currency exchange rates, remain constant. As the profit or loss effect would be the same as the equity effect, only the former is disclosed. Profit or loss 200 bp increase 200 bp decrease 12.31.2022 Floating rate instruments ............................................................... (2,853) 2,853 IR swap ............................................................................................... 1,961 (1,961) Cash flow sensitivity (net) ....................................................... (892) 892 Profit or loss 300 bp increase 300 bp decrease 12.31.2021 Floating rate instruments ............................................................... (3,848) 3,848 IR swap ............................................................................................... 2,712 (2,712) Cash flow sensitivity (net) ....................................................... (1,136) 1,136 The Group’s exposures to interest rates on financial liabilities: 12.31.2021 12.31.2022 Loans from DT AG, Cash pool liabilities Swaps Loans from DT AG, Cash pool liabilities Swaps BUBOR ................................................... 5,596 - 11,085 - EURIBOR/ESTR .................................... 121,083 (90,450) 130,081 (98,061) USD LIBOR/SOFR................................. 1,579 - 1,510 - Total .................................................. 128,258 (90,450) 142,676 (98,061) For further information on loans see Note 4.4.1.

56 5.1.2 Credit risk Credit risk is the risk that one party to a financial instruments will cause a financial loss for the other party by failing to discharge an obligation. The maximum exposure to credit risk as at the end of the reporting period are represented by the carrying amounts of the financial assets in the Statement of financial position. The vast majority of credit risks may arise in respect of Cash and cash equivalents, Bank deposits with original maturities over three months and Trade receivables, most of which have short-term maturities. To decrease counterparty risk and optimize financing costs Magyar Telekom uses the generated cash for repayment of the loans and borrowings and in this way, it does not hold significant bank deposits. The cash held on the bank account is primarily related to daily liquidity needs and not to investment purposes. Additionally, Magyar Telekom keeps bank accounts only with substantial credit institutions to further limit counterparty risk. Maktel does not have loans, the excess cash can be deposited for few months term diversified among the soundest local banks until it can be utilized. Cash and cash equivalents and Bank deposits with maturities over three months held in North Macedonia are primarily denominated in MKD and EUR. Cash and cash equivalents and Bank deposits with maturities over three months deposited in North Macedonia run higher counterparty risk, due to the small amount of internationally substantial financial institutions in that country. In this way excess cash is diversified among the biggest and financially strongest local financial institutions and decrease the maturity to a reasonable level. The total cash kept with North Macedonian banks amounted to HUF 7.7 billion at December 31, 2022 (at December 31, 2021: HUF 13.2 billion). Concentrations of credit risk relating to trade receivables are limited due to the large number of customers comprising the Group's customer base and their dispersion across many different geographic areas and industries. Credit risks are taken into account through individual allowances and allowances calculated at portfolio level. The following table contains the carrying amount of trade receivables broken down by country of operation (Note 4.2.2.1). The vast majority of these balances are denominated in the functional currency of the countries of operations (HUF in Hungary and MKD in North Macedonia). At December 31, 2021 2022 Hungary ............................................................................................................................ 140,838 150,678 North Macedonia ............................................................................................................ 15,816 18,928 Other ................................................................................................................................. 1,533 1,977 158,187 171,583 The amounts in the table above are shown in net balance including impairment losses. The annual impairment losses of the Group in 2022 was 1.2% (2021: 1.6%) of the consolidated revenue. For further information see Note 3.3. and 4.2.2.2. There are varying credit checking practices applied across the members of the Group as described below.

57 Hungary Credit checking at the time of the service request is carried out automatically by the credit checking application. A variety of checks including checking the bankruptcy list, the internal database of risky installation locations, the collection history of the past six months, the outstanding debt and the joint database of debtors of the Hungarian mobile operators are performed depending on the service to be used. The Fraud Detecting System monitors extreme usage and fraudulent behaviour of customers for mobile, fixed-line and Internet services. In the case of business customers, account managers check if the customer has outstanding debts. Dunning procedures are run automatically by the billing systems and include various reminder tools like SMS, reminder message via Telekom APP, telephone calls, reminder letters, reminder emails, restricted service, termination letters and disconnections. In the case of medium and large enterprises the dunning process starts manually (first reminder letter). After the first step, this process is also automated. Based on the effective laws and regulations and over a minimum overdue amount we apply varying and customized reminder procedures with specific deadlines to the different customer groups. After the termination of the contract and depending on the expected success of the process, we combine the different collection steps of selling the outstanding debt or initiating legal proceedings. All parts of the process are regulated by internal directives. North Macedonia The process of managing the credit risk from operating activities includes preventive measures such as creditability checking and prevention barring, corrective measures during legal relationship for example reminding and disconnection activities, collaboration with collection agencies and collection after legal relationship as litigation process and court proceedings. The overdue payments are monitored based on customer type, amount of debt, average invoiced amount and number of disconnections. The credit risk is controlled through credibility checking – which determines that the customer is not indebted and the customers’ credit worthiness and through preventive barring – which determines the credit limit based on the usual level of the customer’s previous traffic revenue. There is no concentration of risk in North Macedonia either with any single customer or group of customers with similar characteristics. The procedures in North Macedonia ensure on a permanent basis that sales are made to customers with an appropriate credit history and that an acceptable level of credit exposure is not exceeded. For further information see Note 4.1.1.

58 5.1.3 Liquidity risk Liquidity risk is the risk that an entity may encounter difficulty in meeting obligations associated with financial liabilities. Prudent liquidity risk management implies maintaining sufficient Cash and cash equivalents and Bank deposits as well as available funding through an adequate amount of committed credit lines. The Group finance management aims to maintain flexibility in funding by keeping committed credit lines available. The undrawn credit lines amounted to HUF 45.5 billion as at December 31, 2022 (2021: HUF 43.5 billion). The following two tables summarize the maturity structure of Magyar Telekom’s financial liabilities including the interest payable on those liabilities as of December 31, 2022 and 2021. The majority of the financial liabilities are financed from the short-term loan facilities received from DT AG that were taken to finance working capital and daily ongoing activities. Management believes that short-term liabilities from DT AG will be refinanced in a similar manner to previous years. Financing needs will also be covered by cash flows generated by operating activities and third party credit line facilities. Therefore the maturity analysis of the financial assets as at the end of the reporting periods (in comparison with the financial liabilities) would not be useful, therefore, is not included in the tables below. 12.31.2022 Total within 1 year 1 to 5 years after 5 years Trade payables to third parties ............................................................. 145,544 145,544 - - Trade payables to related parties ........................................................ 13,242 13,242 - - Financial liabilities to related parties ................................................... 173,647 71,141 102,506 - Derivative financial liabilities contracted with related parties ....... 2,035 2,035 - - Lease liabilities ......................................................................................... 169,340 32,653 75,507 61,180 Bonds ......................................................................................................... 73,099 1,015 72,084 - Frequency fee payable ........................................................................... 144,995 9,588 35,153 100,254 Other financial liabilities......................................................................... 9,424 6,418 3,006 - Total cash outflows ....................................................................... 731,326 281,636 288,256 161,434 Open swap positions’ cash flows Gross cash inflow in EUR million........................................................... 264 8 256 - Gross cash inflow in HUF million (at spot rate) ................................. 105,666 3,202 102,464 - Gross cash outflow in HUF million........................................................ 85,064 1,910 83,154 - Net cash inflow (+) / outflow (-) in HUF million ........................... 20,602 1,292 19,310 - Open forward positions’ cash flows Gross cash inflow in EUR million........................................................... 150 150 - - Gross cash inflow in USD million .......................................................... 11 11 - - Total gross cash inflow in HUF million (at spot rate) ........................ 64,170 64,170 - - Gross cash outflow in HUF million........................................................ 67,805 67,805 - - Net cash inflow (+) / outflow (-) in HUF million ........................... (3,635) (3,635) - -

59 12.31.2021 Total within 1 year 1 to 5 years after 5 years Trade payables to third parties ............................................................. 129,941 129,941 - - Trade payables to related parties ........................................................ 12,090 12,090 - - Financial liabilities to related parties ................................................... 130,429 38,321 92,108 - Derivative financial liabilities contracted with related parties ....... 20 20 - - Lease liabilities ......................................................................................... 160,186 27,361 71,969 60,856 Bonds ......................................................................................................... 73,797 1,015 38,167 34,615 Frequency fee payable ........................................................................... 199,103 54,447 35,885 108,771 Other financial liabilities......................................................................... 8,873 5,710 3,163 - Total cash outflows ....................................................................... 714,439 268,905 241,292 204,242 Open swap positions’ cash flows Gross cash inflow in EUR million........................................................... 251 1 250 - Gross cash inflow in HUF million (at spot rate) ................................. 92,619 369 92,250 - Gross cash outflow in HUF million........................................................ 86,974 1,910 85,064 - Net cash inflow (+) / outflow (-) in HUF million ........................... 5,645 (1,541) 7,186 - Open forward positions’ cash flows Gross cash inflow in EUR million........................................................... 198 198 - - Gross cash inflow in USD million .......................................................... 15 15 - - Total gross cash inflow in HUF million (at spot rate) ........................ 77,948 77,948 - - Gross cash outflow in HUF million........................................................ 78,542 78,542 - - Net cash inflow (+) / outflow (-) in HUF million ........................... (594) (594) - - The average maturity of Magyar Telekom’s debt portfolio was 2.41 years as at December 31, 2022 (2021: 3.25 years). The floating interest payments arising from the financial instruments were calculated using the last interest rates fixed before December 31, 2022 and 2021. For further information see Note 4.4.1. 5.2 Capital risk management The Group’s objectives when managing capital are to safeguard the Group’s ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimum capital structure to reduce the cost of capital. The Company’s management proposes to the owners (through the Board) of the Company to approve dividend payments or adopt other changes in the Company’s equity capital in order to optimize the capital structure of the Group. This can be achieved primarily by adjusting the amount of dividends paid to shareholders, or alternatively, by returning capital to shareholders by capital reductions, selling or buying own shares. In 2022 the Board of Directors of Magyar Telekom approved HUF 15,000 million dividend (HUF 15,311 million dividend in 2021), and the Company’s Board recommends to declare a HUF 29,459 million dividend at the April 2023 Annual General Meeting. In addition to the above, according to Hungarian Civil Code, Magyar Telekom Plc. has to ensure that the Company’s Equity in the separate financial statements does not fall below two thirds of its Common stock. The Company is in compliance with this regulation, and no such statutory regulation exists for the consolidated equity. The equity capital, which the Group manages, amounted to HUF 735 billion on December 31, 2022 (2021: HUF 693 billion).

60 6 INCOME TAX 6.1 Income taxes – accounting policies Income tax expense comprises current and deferred tax. It is recognized in profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity or in other comprehensive income. 6.1.1 Current taxes Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable or receivable in respect of previous years. The amount of current tax payable or receivable is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. It is measured using tax rates enacted or substantively enacted at the reporting date. Current tax also includes any tax arising from dividends. Current tax assets and liabilities are offset only if certain criteria are met. Income taxes are comprised of corporate income taxes, trade tax and other income taxes. 6.1.1.1 Corporate income taxes Corporate income taxes are payable to the central tax authorities of the countries in which the Group’s consolidated entities operate. The basis of the tax is the taxable entities’ accounting profit adjusted for non-deductible and non-taxable items. The nominal tax rates and the determination of the tax bases vary among the countries in which the Group operates. 6.1.1.2 Trade tax and other income tax Trade taxes is a local tax levied in Hungary on the companies’ net margins, usually determined at a substantially higher level than the corporate tax base, but applying a significantly lower tax rate. Other income taxes include innovation fee calculated similarly to trade tax but with a lower rate and it is to be paid to the state budget. 6.1.2 Deferred taxes Deferred tax is recognized on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the Consolidated statement of financial position. Deferred tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction (other than a business combination) that at the time of the transaction affects neither accounting nor taxable profit. Deferred tax is determined using income tax rates that have been enacted or substantively enacted by the financial statement date and are expected to apply when the related deferred tax asset is realized or the deferred tax liability is settled. Deferred tax assets are recognized to the extent that it is probable that future taxable profit (or reversing deferred tax liabilities) will be available against which the temporary differences can be utilized. 6.2 Income taxes in the Consolidated Statement of profit or loss and other comprehensive income The table below shows the income tax expenses charged in the Profit for the period. Income tax expense 2021 2022 Corporate income tax .................................................................................... 3,831 4,517 Trade tax……………………………………………………………………………………………….. 8,215 8,615 Other income tax ............................................................................................ 1,299 1,360 Deferred income taxes .................................................................................. 2,921 2,829 Total ........................................................................................................ 16,266 17,321 The income tax expenses charged to other comprehensive income are related to the changes in the fair value of equity investments measured at fair value through other comprehensive income, and are immaterial for both 2021 and 2022.

61 6.2.1 Tax expense reconciliation The reconciliation between the reported income tax expense and the theoretical amount arising from applying the statutory income tax rates is as follows: 2021 2022 Consolidated IFRS profit before income tax .............................................. 79,113 84,395 Tax at 9% ........................................................................................................... (a) (7,120) (7,596) Impact of different tax rates ......................................................................... (b) (164) (239) Tax shield of items not subject to income tax ........................................... (c) 410 797 Tax impact of non-deductible items............................................................ (d) (743) (1,232) Trade tax ........................................................................................................... (e) (8,215) (8,615) Other income tax ............................................................................................. (f) (1,299) (1,360) Impact of tax deductibility of trade and other income taxes ................. (f) 856 898 Investment tax credit accretion ................................................................... (g) 9 26 Income tax expense ............................................................................... (16,266) (17,321) Effective tax rate ............................................................................................. 20.56% 20.52% For explanations (a)-(g) see as follows. (a) The applicable tax rate used in the above reconciliation is the domestic standard rate of corporate tax in Hungary 9% in 2022 (2021: 9%). (b) This line of the reconciliation includes the tax impacts of the different tax rates of the foreign countries where the Group is also present through its subsidiaries. The corporate tax rate is 10% in North Macedonia, 16% in Romania and 10% in Bulgaria in the reported years. This line of the reconciliation includes the tax impacts of the above differences compared to the 9% general tax rate of Hungary applied to the profit before tax of the Group. (c) This line of the reconciliation primarily includes the tax shield impact of expenses, which are not included in the consolidated profit before tax, but deductible when determining the standalone corporate income tax base. These items include the depreciation of assets (or additional values of assets) which are not included in the assets of the consolidated statements of financial position, and which are not considered in the deferred tax calculation. (d) This line of the reconciliation includes the negative tax impact of the expenses included in the consolidated profit and loss, but non-deductible when determining the standalone corporate income tax base. These items primarily include the non-deductible receivable impairment and write-downs and penalties. (e) Trade tax and other income tax include certain local and central taxes levied in Hungary on the companies’ net margins, determined usually at a substantially higher level than the corporate tax base, but with substantially lower tax rates (max 2%). As the first line of the reconciliation calculates theoretical tax expense calculated using the general corporate tax rate, trade tax and the innovation fee (other income tax) impose additional income tax expenses on the Hungarian entities of the Group, included in this line of the reconciliation. (f) Trade tax and innovation fee are deductible expenses for corporate tax purposes, the positive tax impact of which is included in this line of the reconciliation. (g) Investment tax credit accretion includes the increase of the net present value of the investment tax credit deriving from the utilization of the tax credits in periods subsequent to the year of recognition. For further information see Note 6.3.2.1.

62 6.3 Income taxes in the Statement of financial position 6.3.1 Current taxes in the Statement of financial position Current income tax receivable and payable balances in the Statements of financial position represent the amount of corporate and other income taxes receivable from, and payable to, the tax authorities of the countries in which the Group operates. 6.3.2 Deferred taxes in the Statement of financial position The Group's deferred tax balances and the movements therein are as follows: Balance at December 31, 2020 Effect on profit Other move- ments Balance at December 31, 2021 Effect on profit Other move- ments Balance at December 31, 2022 Deferred tax assets and (liabilities) Investment tax credits (Note 6.3.2.1) 502 (4,277) 4,661 886 (3,207) 6,052 3,731 Net operating loss carry-forward ....... 11 (11) - - - - - Other financial assets ........................... (374) 18 - (356) (17) (17) (390) Impairment of receivables and inventory ................................................. 1,173 175 - 1,348 88 - 1,436 Property, plant and equipment and intangible assets .................................... (6,346) 921 - (5,425) (402) - (5,827) Goodwill .................................................. (14,481) - - (14,481) - - (14,481) Trade and other payables .................... 224 41 - 265 12 - 277 Loans and other borrowings ................ (573) (71) - (644) 688 - 44 Provisions for liabilities and charges 1,361 283 - 1,644 9 - 1,653 Total net deferred tax liability ......... (18,503) (2,921) 4,661 (16,763) (2,829) 6,035 (13,557) Of which deferred tax liabilities after netting by legal entity .......................... (18,621) (16,888) (14,299) Of which deferred tax assets after netting by legal entity .......................... 118 125 742 Items included in other movements: Relating to exchange rate effect ............................ - (17) Investment tax credit earned .................................. 4,661 6,052 The Other movements column includes mainly the increase in investment tax credit relating to energy efficiency improvement recognized in 2022 and 2021, while in minor part the exchange rate effect. The Group consists of a number of legal entities, most of which have deferred tax assets and liabilities. The assets and liabilities are netted by legal entity so that one legal entity has either a deferred tax asset or a liability and the consolidated Statement of financial position includes these balances accordingly. Deferred tax assets arising from investment tax credits are recognized against the capitalized cost of the related asset acquisition. Temporary differences associated with investments in subsidiaries for which deferred tax liabilities or assets have not been recognized amounted to a net liability of HUF 23,427 million at December 31, 2022 (HUF 21,987 million at December 31, 2021). Deferred tax liability on goodwill is related to the goodwill arising from the acquisition of subsidiaries (Emitel and T- Mobile) in the Company’s financial statements, which had merged into Magyar Telekom Plc. The amortization of goodwill is a tax deductible expense in corporate income tax, while under IFRSs there is no amortization accounted in the books. The difference deriving from the two types of accounting is represented by the deferred tax liability.

63 6.3.2.1 Investment tax credits Since 2020 Magyar Telekom Plc. and T-Systems Hungary have accomplished a new tax credit program in order to increase energy effectiveness. In order to utilize these tax credits, both Companies had to meet certain audit requirements set out in the relevant tax regulations and independent external auditors stated that the investments fulfill the criteria of energy effectiveness. This investment tax credit is booked as a decrease from the investment costs of the assets, as well as a deferred tax asset of the whole tax credit amount is booked accordingly. Magyar Telekom utilizes HUF 3,237 million tax credit in the 2022 corporate tax return, while the remaining HUF 3,731 million tax credit remains as deferred tax asset in the Company’s books. The Company expects that the tax credit carried forward can be utilized in the 2023 corporate tax return. The following table shows the details of the energy saving investment tax credits in HUF millions as of 31 December, 2022: Earned in year Amount of qualifying investment Amount of tax credit earned Accretion recognized in tax expense Tax credit utilized Tax credit carried forward at 12.31.2022 Expires in year 2020 ........................................ 7,885 2,823 9 (2,832) - 2025 2021 ........................................ 12,671 4,661 26 (4,687) - 2026 2022…………………………………… 15,529 6,052 - (2,321) 3,731 2027 Total ..................................... 36,085 13,536 35 (9,840) 3,731 In order to utilize the tax credits and certain tax deductibility opportunities earned by the Group’s entities, they had to comply with strict requirements as set out in the relevant tax regulations. The Group fulfilled all requirements connecting energy effective investment programs. 6.4 Income taxes in the Statements of cash flows The Company classifies its tax settlement of energy saving investment tax credit as an investing activity in the Statements of cash flows. The table below shows how the total cash flows from income tax are allocated over the activities: Activities in the Statements of Cash Flows 2021 2022 Cash flows from operating activities (presented on the line income tax paid) .................. (14,471) (18,615) Cash flows from investing activities (investment tax credit utilized in the tax report) .... 2,320 4,283 Cash flows from financing activities ........................................................................................... - - Total cash flows from income tax .................................................................................... (12,151) (14,332) Magyar Telekom has been doing investments relating to energy saving since 2020, based on this the payment of the reduced income tax was settled in 2021 and in 2022. 6.5 Tax reviews The tax authorities may at any time inspect the books and records within five years from the end of the year when tax declarations were submitted and may impose additional tax assessments with penalties and penalty interest. Management is not aware of any circumstances which may give rise to a potential material liability in this respect. 6.6 Dividends paid by Magyar Telekom Plc. The dividends paid and payable by Magyar Telekom Plc. to its owners may be subject to withholding or income taxes of the owners, which do not have an impact on the amount of the dividend declared or on the Company’s tax expense as these taxes – if any – are levied on the owners.

64 7 INVENTORIES 7.1 Inventories – accounting policies Inventories are stated at the lower of cost or net realizable value using the historical cost method of accounting and are valued on a weighted average basis. The cost of inventories comprises all costs of purchase, cost of construction and other costs incurred in bringing the inventories to their present location and condition. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Impairment losses on Inventories are recognized in Other operating expenses. 7.2 Inventories in the statement of financial position 12.31.2021 12.31.2022 Inventory for resale ................................................................................................... 16,074 22,764 Other inventory .......................................................................................................... 2,133 2,842 Subtotal ........................................................................................................... 18,207 25,606 Less allowances ......................................................................................................... (154) (262) 18,053 25,344 The impairment loss accounted or reversed for inventories is not material therefore no separate table of movements is disclosed. The Group has no inventory pledged as security as at December 31, 2021 or December 31, 2022.

65 8 ASSETS HELD FOR SALE AND LIABILITIES ASSOCIATED WITH ASSETS HELD FOR SALE 8.1 Non-current assets held for sale – accounting policies An asset (typically properties and closely related other assets) is classified as held for sale if it is no longer needed for the future operations of the Group, and has been identified for sale, which is highly likely to take place within 12 months. These assets are accounted for at the lower of carrying value or fair value less costs of disposal. Depreciation is discontinued from the date of designation to the held-for-sale status. When an item of PPE or intangible assets is designated for sale, and the fair value is determined to be lower than the carrying amount, the difference is recognized in the Profit for the period (Depreciation and amortization) as an impairment loss. If the requirements for the classification of assets as held for sale are no longer met, the assets may no longer be shown as held for sale. The assets are to be measured at the lower of the carrying amount that would have applied if the asset had not been classified as held for sale, and the recoverable amount at the date at which the requirements for the classification as held for sale are no longer met. 8.2 Assets and liabilities held for sale in the statement of financial position The assets and liabilities classified as held for sale are disclosed below. 12.31.2021 12.31.2022 Cash and cash equivalents ....................................................................................... 138 - Other current financial assets .................................................................................. 62 - Intangible asset........................................................................................................... 1,287 - Goodwill ....................................................................................................................... 638 - Property, plant and equipment ............................................................................... 161 2 Total assets held for sale ................................................................................. 2,286 2 12.31.2021 12.31.2022 Provisions ..................................................................................................................... 104 - Other current financial liabilities ............................................................................. 246 - Total liabilities held for sale ............................................................................ 350 - In 2021 assets and liabilities held for sale represent the lands, buildings and technical assets which have been determined to be sold within a year and are actively marketed, and the assets and liabilities related to the disposal of Pan-Inform Kft. and healthcare service activity of T-Systems Zrt. In December 2021, the Group signed an agreement for the sale of the total of its 100% shareholding in Pan-Inform Kft. by its sole owner of T-Systems Zrt. The scope of the agreement covered the support and development operations provided for central digital healthcare services in Hungary and for the related hospital information system, that partially had been involved in the operation of T-Systems Zrt. T-Systems Zrt. sold all the assets and liabilities covered by this agreement to Pan-Inform Kft before the closing of the transaction. Pan-Inform and the healthcare business activity of T-Systems Zrt. are included in the MT-Hungary operating segment of the Group. (The operating segments are defined in Note 33.) The closing of the transaction and the settlement of the HUF 5.5 billion selling price took place at the end of January 2022, on which the realized gain was HUF 3.3 billion. See also Note 22 and 26.2. At the end of 2022 assets held for sale included some non-current assets that are expected to be sold within 12 months.

66 9 PROPERTY, PLANT AND EQUIPMENT 9.1 Property, plant and equipment (PPE) – accounting policies Property, plant and equipment are stated at historical cost less accumulated depreciation and impairment losses. The cost of an item of PPE comprises its purchase price, including import duties and non-refundable purchase taxes, after deducting trade discounts and rebates, any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. The initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located is also included in the costs if the obligation incurred has to be recognized as a provision according to IAS 37 – Provisions, Contingent Liabilities and Contingent Assets. Government grants relating to the purchase of PPE are deducted from the original cost of the items and are recognized in the Profit for the period through the reduced amount of depreciation of the related assets over their useful lives. Investment tax credits relating to qualifying investment projects (Note 6.3.2.1) are also recognized in this manner. Cost, in the case of telecommunications equipment, comprises of all expenditures including the cabling within customers' premises and borrowing costs of related loans and corporate bonds. Subsequent expenditure on an asset that meets the recognition criteria to be recognized as an asset or an addition to an asset is capitalized, while maintenance and repairs are charged to expense when incurred. When assets are scrapped, the cost and accumulated depreciation are removed from the accounts and the loss is recognized in the Profit for the period (Depreciation and amortization). When assets are sold, the cost and accumulated depreciation are removed from the accounts and any related gain or loss is recognized in the Profit for the period (Other operating income/expense). Depreciation is calculated on a straight-line basis from the time the assets are deployed and charged over their economic useful lives. On an annual basis, Magyar Telekom reviews the useful lives and residual values for consistency with current development plans and advances in technology. For further details on the groups of assets impacted by the most recent useful life revisions refer to Note 9.3. In addition to the regular revisions, any investment decisions made throughout the year may also result in a change of useful life of a group of assets in any period of the year. The useful lives assigned to different types of property, plant and equipment Years Buildings ..................................................................................................................................................... 5–50 Duct, cable and other outside plant ..................................................................................................... 3–38 Other telecommunications equipment ................................................................................................ 2–25 Other equipment ...................................................................................................................................... 2–50 Useful lives of property, plant and equipment in operation may increase if the asset is refurbished. Useful life change is not automatic, only if it is significantly increased as a result of the investment, which is based on well-founded technical experts’ decision performed on individual basis. Tangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of the assets’ fair value less costs of disposal (FVLCD) and its value in use (VIU). The recoverable amount shall be estimated for the individual asset. If it is not possible to estimate the recoverable amount of the individual asset, the recoverable amount determined on the cash-generating unit (CGU) to which the asset belongs, those assets are grouped at the lowest level for which there are separately identifiable cash flow. Fair value less costs of disposal may be determined using various valuation techniques. These include the use of recent arm’s length transactions, reference to other instruments that are substantially the same, discounted cash flow analyses and option pricing models, making maximum use of market inputs and relying as little as possible on entity-specific inputs. If the FVLCD exceeds the carrying amount of an asset or CGU the then the asset or CGU is not impaired and it is not necessary to calculate the VIU. The impairment losses of PPE are accounted for in the Depreciation and amortization line of the Statement of profit or loss and other comprehensive income.

67 9.2 Property, plant and equipment in the statement of financial position Land and buildings Telecom equipment Other equipment Total 01.01.2021 Gross value ............................................................................................ 135,346 1,120,458 98,483 1,354,287 Accumulated depreciation ................................................................. (62,399) (778,067) (80,896) (921,362) Carrying amount .......................................................................... 72,947 342,391 17,587 432,925 Of which held for sale .......................................................................... (485) (4) - (489) 432,436 Carrying amount – January 1, 2021................................................. 72,947 342,391 17,587 432,925 Investments ........................................................................................... 1,119 75,603 2,701 79,423 Additions due to business combinations ........................................ - 1,802 (377) 1,425 Disposals due to business combinations ......................................... - - - - Changes due to revisions of asset retirement obligations ........... 254 - - 254 Disposals ................................................................................................ (684) (579) (462) (1,725) Depreciation charge ............................................................................ (4,312) (67,360) (5,446) (77,118) Reclassifications ................................................................................... (549) 2,992 (735) 1,708 Exchange differences .......................................................................... 172 525 4 701 Carrying amount – December 31, 2021 ..................................... 68,947 355,374 13,272 437,593 12.31.2021 Gross value ............................................................................................ 135,605 1,149,359 89,446 1,374,410 Accumulated depreciation ................................................................. (66,658) (793,985) (76,174) (936,817) Carrying amount .......................................................................... 68,947 355,374 13,272 437,593 Of which held for sale .......................................................................... (133) (17) (11) (161) 437,432 Carrying amount – January 1, 2022................................................. 68,947 355,374 13,272 437,593 Investments ........................................................................................... 1,040 91,757 2,740 95,537 Additions due to business combinations ......................................... 6 422 37 465 Disposals due to business combinations ......................................... (23) (1,573) (49) (1,645) Changes due to revisions of asset retirement obligations ........... 516 - - 516 Disposals ................................................................................................ (151) (558) (252) (961) Depreciation charge ............................................................................ (4,104) (60,074) (5,046) (69,224) Reclassifications ................................................................................... (70) 7,292 409 7,631 Exchange differences .......................................................................... 1,436 4,133 229 5,798 Carrying amount – December 31, 2022 ..................................... 67,597 396,773 11,340 475,710 12.31.2022 Gross value ............................................................................................ 138,719 1,209,659 85,630 1,434,008 Accumulated depreciation ................................................................. (71,122) (812,886) (74,290) (958,298) Carrying amount .......................................................................... 67,597 396,773 11,340 475,710 Of which held for sale .......................................................................... - (2) - (2) 67,597 396,771 11,340 475,708 This table contains property, plant and equipment assets subject to operating leases, for further information see Note 17.3.

68 The right-of-use assets by class of underlying asset are listed in the table below. For further information, please see Note 17. Land and buildings Telecom equipment Other equipment Total 01.01.2021 Gross value ........................................................................................... 104,127 42,519 7,228 153,874 Accumulated depreciation ................................................................ (23,233) (6,253) (3,053) (32,539) Carrying amount ......................................................................... 80,894 36,266 4,175 121,335 Carrying amount – January 1, 2021................................................ 80,894 36,266 4,175 121,335 Investments .......................................................................................... 9,844 10,434 2,662 22,940 Disposals ............................................................................................... (995) (422) (117) (1,534) Depreciation charge ........................................................................... (12,107) (4,666) (2,101) (18,874) Reclassifications .................................................................................. (242) (1,303) - (1,545) Exchange differences ......................................................................... 23 (2) 12 33 Carrying amount – December 31, 2021 .................................... 77,417 40,307 4,631 122,355 12.31.2021 Gross value ........................................................................................... 111,290 50,855 8,732 170,877 Accumulated depreciation ................................................................ (33,873) (10,548) (4,101) (48,522) Carrying amount ......................................................................... 77,417 40,307 4,631 122,355 Carrying amount – January 1, 2022................................................ 77,417 40,307 4,631 122,355 Investments .......................................................................................... 10,256 14,261 5,644 30,161 Disposals ............................................................................................... (873) (228) (140) (1,241) Depreciation charge ........................................................................... (12,674) (4,925) (2,720) (20,319) Reclassifications .................................................................................. (609) (7,022) - (7,631) Exchange differences ......................................................................... 292 75 47 414 Carrying amount – December 31, 2022 .................................... 73,809 42,468 7,462 123,739 12.31.2022 Gross value ........................................................................................... 118,617 55,861 12,803 187,281 Accumulated depreciation ................................................................ (44,808) (13,393) (5,341) (63,542) Carrying amount ......................................................................... 73,809 42,468 7,462 123,739 The closing balance of Property, plant and equipment (PPE) includes assets under construction in an amount of HUF 63,095 million as at December 31, 2022 (2021: HUF 55,237million). In the table above, the assets under construction are shown in the categories where the asset is expected to be classified when placed into service. Exchange differences include the translation impact arising on the consolidation of foreign subsidiaries of the Group. Additions due to business combinations include the fair value or carrying value of the assets acquired by Magyar Telekom Plc. through business combinations at the time of the acquisition. Differences between the preliminary and the final purchase price allocations are also included in this line. Changes due to revisions of asset retirement obligations represent the adjustments of the carrying amounts of the assets against a provision for asset retirement obligation (see also Note 13.2.4). No material impairment was identified in 2022 and 2021. The Group has no PPE with restricted titles or pledged as security as at December 31, 2022 or December 31, 2021.

70 10 INTANGIBLE ASSETS 10.1 Intangible assets – accounting policies Intangible assets are stated at historical cost less accumulated amortization and impairment losses. Acquired computer software licenses are capitalized on the basis of the costs incurred to acquire and bring to use. Costs associated with developing or maintaining computer software programs are generally recognized as an expense as incurred. Costs directly associated with the production of identifiable and unique software products controlled by the Group, and that will probably generate economic benefits exceeding costs beyond one year, are recognized as intangible assets. Direct costs include the software development employee related costs and an appropriate portion of relevant overhead and borrowing costs. Most computer software capitalized include acquired elements representing the majority of the cost and own costs incurred to a lesser extent. These are considered non self-developed software. Computer software fully developed by own resources represent an immaterial portion of all software, therefore these are not disclosed separately. Costs associated with the acquisition of long-term frequency licenses are capitalized as an intangible asset when the Company receives a right to charge users of the service provided under the license. The present value of the future annual payments for the use of the frequencies are also capitalized if these payments can be estimated reliably, or otherwise recognized as Other operating expenses in the year the payment obligation refers to. The useful lives of concessions and licenses are determined based on the underlying agreements and are amortized on a straight-line basis over the period from availability of the frequency for commercial use until the end of the initial concession or license term. Amortization is calculated on a straight-line basis from the time the assets are deployed and charged over their economic useful lives. Other than goodwill, the Group has no intangible assets with indefinite useful life. The amortization expense is presented in the depreciation and amortization line of the Statement of profit or loss. On an annual basis, Magyar Telekom reviews the useful lives for consistency with current development and replacement plans and advances in technology. For further details on the groups of assets impacted by the most recent useful life revisions refer to Note 10.3. In addition to the regular revisions, any investment decisions made throughout the year may also result in a change of useful life of a group of assets. The estimated useful lives of intangible assets other than goodwill are as follows: Years Software ..................................................................................................................................................... 2–24 Concessions and licenses ....................................................................................................................... 3–25 Other intangible assets ........................................................................................................................... 3–10 In determining whether an asset that incorporates both intangible and tangible elements should be treated under IAS 16 – Property, Plant and Equipment or as an intangible asset under IAS 38 – Intangible Assets, management uses judgment to assess which element is more significant and recognizes the assets accordingly. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of the assets’ fair value less costs of disposal and its value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units – CGUs). The recoverable amount of the individual intangible assets of the Group in most cases cannot be determined as individual assets and do not generate cash flows. Instead, the Group determines CGUs to which the individual assets are allocated and the fair values can only be determined at CGU level. Corporate assets which have the distinctive characteristics of not generating cash inflows independently of other assets or groups of assets are allocated to CGUs when conducting impairment tests.

71 Goodwill is carried at cost less accumulated impairment losses. Impairment losses on goodwill are not reversed. Gains and losses on the disposal of an entity or business include the carrying amount of goodwill allocated to the entity or business sold. Goodwill is tested for impairment annually or more frequently if circumstances indicate that impairment may have occurred. When conducting the impairment tests, Magyar Telekom allocates goodwill to its cash generating units determined at operating segment level. See also Note 3.2. Operating segments may include one clearly identifiable company or a group of companies, or certain components of one company and other companies as well. The Group establishes the segments’ recoverable amounts by determining their fair value less cost of disposal by using valuation techniques. These include the use of recent arm’s length transactions, reference to other instruments that are substantially the same, discounted cash flow analyses and option pricing models, making maximum use of market inputs and relying as little as possible on entity-specific inputs. The fair values determined as described above are used as a basis when establishing the need for an impairment of any goodwill allocated to the operating segments. As long as the FVLCD exceeds the carrying amount of a CGU, in this case an operating segment, then the CGU is not impaired and it is not necessary to calculate the VIU. Calculation of VIU is performed only if FVLCD does not exceed the carrying amount of an operating segment. If the calculated recoverable value is lower than the carrying amount of the operating segment, goodwill is impaired. The impairment losses of intangible assets, including that of goodwill are accounted for in the Depreciation and amortization line of the Statements of profit or loss and other comprehensive income.

72 10.2 Intangible assets in the statement of financial position Goodwill Concessions and licenses Software Other Total 01.01.2021 Gross value ................................................................. 213,137 291,455 356,119 33,717 894,428 Accumulated amortization ...................................... - (108,456) (269,491) (17,664) (395,611) Carrying amount .................................................. 213,137 182,999 86,628 16,053 498,817 Carrying amount – January 1, 2021...................... 213,137 182,999 86,628 16,053 498,817 Investments ................................................................ - 84,166 23,899 5,690 113,755 Additions due to business combinations .............. 14 - - 58 72 Disposals due to business combinations .............. - - - - - Reclassification to held for sale assets ................. (638) - (1,287) - (1,925) Disposals ..................................................................... - - (153) (2) (155) Amortization charge ................................................. - (19,511) (25,860) (6,599) (51,970) Reclassifications ........................................................ - - (80) (83) (163) Exchange differences ............................................... - 62 102 67 231 Carrying amount – December 31, 2021 ............. 212,513 247,716 83,249 15,184 558,662 12.31.2021 Gross value ................................................................. 212,513 354,334 343,761 35,257 945,865 Accumulated amortization ...................................... - (106,618) (260,512) (20,073) (387,203) Carrying amount .................................................. 212,513 247,716 83,249 15,184 558,662 Carrying amount – January 1, 2022...................... 212,513 247,716 83,249 15,184 558,662 Investment .................................................................. - 3,491 20,567 9,634 33,692 Additions due to business combinations .............. 266 - - 868 1,134 Disposals due to business combinations .............. (66) - 43 - (23) Reclassification to held for sale assets ................. - - - - - Disposals ..................................................................... - - (967) (3) (970) Amortization charge ................................................. - (17,326) (24,705) (7,194) (49,225) Reclassifications ........................................................ - (438) 472 (34) - Exchange differences ............................................... - 381 674 573 1,628 Carrying amount – December 31,2022 .............. 212,713 233,824 79,333 19,028 544,898 12.31.2022 Gross value ................................................................. 212,713 277,681 342,238 42,378 875,010 Accumulated amortization ...................................... - (43,857) (262,905) (23,350) (330,112) Carrying amount .................................................. 212,713 233,824 79,333 19,028 544,898

73 Additions due to business combinations include the fair value of assets acquired by Magyar Telekom through business combinations in the reported years and the goodwill arising on these business combinations. Differences between the preliminary and the final purchase price allocations are also included in this line. Exchange differences include the translation impact arising on the consolidation of foreign subsidiaries of the Group. Investments represent the regular investing activity in intangible assets and the new frequencies were acquired in 2021 that significantly increased the book value of concessions and licenses. HUF 83.1 billion was recognized consisting of a one-time spectrum fee and the present value of annual band fees related to 900 MHz, 1800 MHz spectrums band. The useful life of these frequencies and the present value calculations are based on the term of rights of use for these frequencies. For further information see Notes 4.4.4.1, 10.5, 28 and 34.2. The amortization expense, as well as the impairment losses of intangible assets, including also goodwill, is accounted for in the Depreciation and amortization line of the Statements of profit or loss and other comprehensive income. The Group has no intangible assets with restricted title or pledged as security as at December 31, 2022 or December 31, 2021. 10.3 Useful lives The reviews of the useful lives of intangible assets based on the strategic direction and accepted annual development plans during 2021 and 2022 affected the useful lives of a large number of assets primarily software. The revisions resulted in the following change in the original trend of amortization in the current and future years. 2022 2023 2024 2025 After 2025 Increase / (decrease) in depreciation expense ........................... (2,562) (115) 724 622 1,330 2021 2022 2023 2024 After 2024 Increase / (decrease) in depreciation expense ........................... (1,483) (33) 909 679 (72) 10.4 Goodwill For the goodwill impairment tests, the total amount of goodwill was allocated to the operating segments of the Group and the recoverable amounts of the operating segments were determined based on fair values less costs of disposal based on Level 3 inputs in the fair value calculations (Note 4.5.1). The recoverable amounts of the segments disclosed in the table below exclude net debts (Note 5.2), which are not allocated to the segments. For further information, please also see Note 3.2 and 10.1. 12.31.2021 12.31.2022 Carrying amount of Recoverable amount of operating segment Carrying amount of Recoverable amount of operating segment Goodwill allocated Operating segment (incl. goodwill) Goodwill allocated Operating segment (incl. goodwill) MT-Hungary .............. 192,314 1,035,769 1,507,266 192,514 1,052,686 1,368,990 North Macedonia ..... 20,199 127,694 356,411 20,199 142,200 183,863 Total .......................... 212,513 1,163,463 1,863,677 212,713 1,194,886 1,552,853 The Group regularly carries out the annual impairment test on goodwill in the last quarter of the financial years, while a quick goodwill impairment test is conducted quarterly based on the main input changes. During the impairment tests conducted in 2021 and 2022 no goodwill impairment was established for any goodwill of the Group.

74 10.5 Significant individual other intangible assets The Group’s most significant individual other intangible assets are the mobile licenses. The carrying values and remaining amortization periods of the significant licenses are listed in the table below. For further information on these assets, please see Note 34. 12.31.2021 12.31.2022 Carrying amount Remaining amortization period (years) Carrying amount Remaining amortization period (years) Hungary 700 MHz ...................................................................................... 38,447 18 36,340 17 800 MHz ...................................................................................... 27,463 12 25,266 11 900 MHz ...................................................................................... 39,584 12-21 37,047 11-20 1800 MHz .................................................................................... 67,774 12-21 63,845 11-20 2100 MHz .................................................................................... 29,047 5-18 26,019 4-17 2600 MHz .................................................................................... 12,358 12 11,370 11 26 GHz.......................................................................................... 242 2-5 145 1-4 3600 MHz .................................................................................... 28,905 18 26,905 17 Macedonia 100 MHz ...................................................................................... - - 1,126 15 700 MHz ...................................................................................... - - 2,038 15 800 MHz/1800 MHz .................................................................. 2,262 12 2,253 11 1800 MHz .................................................................................... 26 7 25 6 2100 MHz .................................................................................... 1,341 6-7 1,248 5-6 Other ...................................................................................... 267 5 197 4 Total concessions and licenses ............................................. 247,716 233,824

75 11 INVESTMENTS IN ASSOCIATES AND JOINT ARRANGEMENTS 11.1 Associates and joint arrangements – accounting policies Associates are entities over which the Group has significant influence but not control, generally reflecting a voting right between 20% and 50%. Joint arrangements are arrangements where the parties are bound by a contractual arrangement of which two or more parties have joint control and which exist only when decisions about the relevant activities require the unanimous consent of the parties sharing the control. If the parties that have joint control of the arrangement have rights to the net assets of the arrangement, it is a joint venture. If the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, relating to the arrangement, it is a joint operation. Investments in associates and joint ventures are accounted for using the equity method of accounting and are initially recognized at cost. The Group’s investment in associates and joint ventures includes goodwill arising on acquisitions, and net of any accumulated impairment loss. The Group’s share of its associates’ and joint ventures’ post-acquisition profits or losses is recognized in the Profit for the period (Share of associates’ and joint ventures’ profits). The cumulative post-acquisition movements are adjusted against the carrying amount of the investment. When the Group’s share of losses in an associate or joint venture equals or exceeds its interest in the company, the Group does not recognize further losses, unless it has incurred legal or constructive obligations or made payments on behalf of the associate or joint venture. Unrealized gains on transactions between the Group and its associates and joint ventures are eliminated to the extent of the Group’s interest in the company. Accounting policies of associates and joint ventures are adjusted where necessary to ensure consistency with the policies adopted by the Group. In case of a joint operation, the assets, liabilities, revenue and expenses relating to the joint operation are recognized to the extent of the Group’s interest in the joint operation. 11.2 Associates The Group had no significant associates at December 31, 2021 and 2022. The Group had no contingent liabilities or commitments related to its associates at December 31, 2021 and 2022. 11.3 Joint ventures The Group had no joint venture at December 31, 2021 and 2022. 11.4 Joint operations Magyar Telekom and Yettel Hungary (formerly: Telenor Hungary) agreed in 2015 to jointly operate and develop their 800 MHz 4G mobile networks in all parts of Hungary except Budapest. The primary goal of the agreement was to accelerate 4G mobile broadband coverage rollout in the countryside and to offer higher bandwidth to the 4G customers, in line with the coverage obligations of the 800 MHz spectrum contract signed in 2014 with the NRA. Based on the agreement, Yettel Hungary maintains sites in West Hungary and Magyar Telekom operates base stations in the eastern region of the country. The Company assessed the agreement as joint operation as strategic decisions are made jointly by Magyar Telekom and Yettel, and there is no separate vehicle to control the operation of the arrangement. The Company does not share the obligations for liabilities and any returns or expenses beyond the assets included in the agreement. Therefore only the assets owned by the Company are recognized while there is no need to present the partner’s assets, liabilities, or revenue and expenses. The charges from Magyar Telekom to Yettel and from Yettel to Magyar Telekom are almost equal and settled on a net basis and accounted for in the statement of profit or loss and the effect of this settlement is not significant. If any of the parties initiates the termination of this contract, in order to ensure the continuous service for the customers the Company might be exposed to additional capital expenditure. The probability is estimated remote by the Management currently.

76 12 OTHER ASSETS Other assets usually include current and non-current receivables considered as non-financial instruments. 12.1 Other current assets 12.31.2021 12.31.2022 Prepayments and advance payments ............................................................. 6,834 10,042 Other taxes receivable........................................................................................ 1,322 718 Other ...................................................................................................................... 275 265 Total............................................................................................................ 8,431 11,025 12.2 Other non-current assets Other non-current assets mainly include assets recognized from the costs of obtaining contracts with customers (amounting to HUF 7,402 million, see also Note 18.4) as at December 31, 2022. 13 PROVISIONS 13.1 Provisions – accounting policies Provisions are recognized when Magyar Telekom has a present legal or constructive obligation (excluding executory contracts) as a result of past events and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate of the amount of the obligation can be made. Provisions are measured and recorded as the best estimate of the economic outflow required to settle the present obligation at the financial statement date. The estimate can be calculated as the weighted average of estimated potential outcomes or can also be the single most likely outcome. Provisions for obligations expected to fall due after 12 months are generally recognized at their present value and are accreted (against Interest expense) until utilization or reversal. Expenses for provisions are recognized in the line item of the Consolidated statement of profit or loss and other comprehensive income where the actual expense is expected to be incurred. When a provision is released unused, it is released typically to the same line item of the Statement of profit or loss and other comprehensive income where it was originally provided for.

77 13.2 Provisions in the statement of financial position Severance payment Share- based payments Other employee related Total employee related Legal cases ARO Other Total 01.01.2021 ................................................. 2,017 2,228 207 4,452 581 8,208 471 13,712 Amounts reversed ..................................... (358) (112) (69) (539) (22) (8) (517) (1,086) Additions ..................................................... 2,381 1,982 941 5,304 702 262 2,889 9,157 Reclassification to HFS liabilities ........... - - - - - - (104) (104) Interest ........................................................ - (8) - (8) 562 174 - 728 Exchange rate difference ......................... - 8 14 22 6 2 (1) 29 Amounts utilized (incl. interest component) ................................................ (3,338) (1,299) (433) (5,070) (116) (41) (1,128) (6,355) 12.31.2021 ............................................ 702 2,799 660 4,161 1,713 8,597 1,610 16,081 Of which current ........................................ 571 1,728 462 2,761 260 25 321 3,367 Of which non-current ................................ 131 1,071 198 1,400 1,453 8,572 1,289 12,714 01.01.2022 ................................................. 702 2,799 660 4,161 1,713 8,597 1,610 16,081 Amounts reversed ..................................... (114) (129) - (243) (20) (12) (1,358) (1,633) Additions ..................................................... 1,502 1,687 547 3,736 299 516 715 5,266 Interest ........................................................ - (32) - (32) 627 505 - 1,100 Exchange rate difference ......................... - 29 55 84 14 (1) - 97 Amounts utilized (incl. interest component) ................................................ (1,291) (1,937) (528) (3,756) (1,070) (58) (464) (5,348) 12.31.2022 ............................................ 799 2,417 734 3,950 1,563 9,547 503 15,563 Of which current ........................................ 732 1,359 497 2,588 86 19 266 2,959 Of which non-current ................................ 67 1,058 237 1,362 1,477 9,528 237 12,604 The Interest lines in the table above include the subsequent unwinding of the discount applied at initial recognition and the interest element of any provision recognized, as well as the release of the interest / accretion element in case of reversal of provisions. Magyar Telekom does not expect any reimbursement with regards to the provisions recognized, therefore no related assets have been recognized in the financial statements. 13.2.1 Severance payment The majority of the provision for severance as at December 31, 2022 relates to the stand-by-pool and the employee terminations payable in 2023 in relation to the efficiency improvement in Magyar Telekom Plc. The stand-by-pool of employees includes people whose legal status is an employee, however, these people do not provide services to the Company any more, but the Company provides a reduced amount of compensation and pays social security expenses for them. This is a manner of severance that is not paid in one lump sum but in monthly installments following the discontinuation of services. The majority of the provision for severance as at December 31, 2021 also related to the stand- by-pool and the employee terminations paid in 2022 in relation to the efficiency improvement in Magyar Telekom Plc. 491 employees left the Group in 2022 (2021: 735), related to which termination payments were made. The balance of provision as at December 31, 2022 relates to 131 employees and employees in the stand-by-pool (2021: 111). The total payments made in relation to employee termination in 2022 amounted to HUF 2,402 million (2021: HUF 4,238 million).

78 13.2.2 Share-based payments Share-based payments are detailed in Note 20.1.2. 13.2.3 Legal cases Provisions for legal cases mainly include amounts expected to be paid to regulatory and competition authorities as well as to ex-employees and trading partners as a result of legal disputes. There are numerous legal cases for which provisions were recognized, which are individually not material. 13.2.4 Asset retirement obligations (ARO) Asset retirement obligations primarily exist in case of the telecommunications structures constructed on third parties’ properties. The Group carries out a revision of the necessary provisions every year. The revisions did not result in material changes neither in 2022, nor in 2021. 13.2.5 Other provisions Other provisions include guarantee obligations, onerous contracts and further other individually small items. 14 OTHER CURRENT LIABILITIES 12.31.2021 12.31.2022 Supplementary telecommunication tax ......................................................... (a) - 2,120 Other taxes and social security......................................................................... 9,590 11,805 Salaries and wages .............................................................................................. 7,344 8,198 Deferred revenue and advances received ...................................................... 1,953 2,103 Unused advance payments for asset-related grants ................................... (b) 12 5 Other liabilities ..................................................................................................... 87 124 Total............................................................................................................ 18,986 24,355 (a) On June 4, 2022 the Government of Hungary issued a decree (Government Decree of 197/2022. (VI.4.)) imposing a new type of tax on a number of industries, including telecommunications. For further information see Note 2.2.3. (b) For further information see also Note 4.2.4.2. (b) 15 OTHER NON-CURRENT LIABILITIES The table below shows the balances of Other non-current liabilities . 12.31.2021 12.31.2022 Other non-current liabilities ..................................................................................... 2,474 2,034 Bonds are initially recognized in 2020 at fair value (HUF 67,875 million) net of transaction costs (HUF 12 million) incurred and increased by premium received (HUF 2,948 million), which resulted in a 1.26% yield. The bond is subsequently measured at amortized cost under IFRS 9. Any difference between the proceeds (net of transaction cost) and the redemption amount are recognized in profit or loss over the period of the liability using the effective interest method. For further information please see Note 4.4.2.

79 16 NON-CONTROLLING INTERESTS Non-controlling interests includes the minority shareholders in Makedonski Telekom (MKT). MKT Other Total Balance at January 1, 2021 ........................................................................ 40,135 (1,092) 39,043 Dividend declared ......................................................................................... (3,479) - (3,479) Total comprehensive income ...................................................................... 4,516 - 4,516 Balance at December 31, 2021 ........................................................... 41,172 (1,092) 40,080 Dividend declared ......................................................................................... (4,492) - (4,492) Total comprehensive income ...................................................................... 7,449 - 7,449 Balance at December 31, 2022 ........................................................... 44,129 (1,092) 43,037 16.1 Summarized financial information on subsidiaries with material non-controlling interests The information below includes the amounts as included in the consolidation, before inter-company eliminations. a) Summarized balance sheets MKT 12.31.2021 12.31.2022 Current assets ...................................................................................................... 33,170 29,551 Current liabilities ................................................................................................. (18,708) (25,884) Non-current assets.............................................................................................. 106,643 123,981 Non-current liabilities ......................................................................................... (5,494) (5,272) Net assets ................................................................................................... 115,611 122,376 b) Summarized income statements MKT 2021 2022 Revenue* ............................................................................................................... 65,120 75,329 Profit before income tax .................................................................................... 9,790 10,765 Profit for the period ................................................................................... 8,835 9,458 * See Note 2.2.1 Accounting policy change for details regarding the restatement

81 17 LEASES 17.1 Leases – Accounting policies A contract is a lease (or contains a lease) if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Recognition exemptions Short-term leases, low value leases IFRS 16 includes recognition exemptions available to lessees for short-term leases and leases of low-value items and specifies alternative requirements. ▪ In the Group, a decision was made not to apply the short-term recognition exemptions to lease contracts, except for some minor and insignificant lease arrangements with a lease term of one month or less. Such very short-term leases and related asset classes are expensed as incurred and no additional quantitative disclosure is required. ▪ The Group has made the decision not to apply the practical expedient with respect to low value items. Hence they have to be recognized, measured and presented as lease arrangements in the scope of IFRS 16. Lease term The lease term assessment at the commencement date refers to the period for which the Group is reasonably certain to maintain the contract under the terms and conditions as originally negotiated. The initial lease term assessment is made at commencement of the lease. When determining the lease term, the shortest reasonably possible, i.e. justifiable, term is always to be used in case of doubt. The lease term assessment is largely based on management judgement and the Group usually use estimates or assumptions (especially in the case of options and indefinite contracts) on asset cluster level. The commencement date of the lease (commencement date), is the date on which a lessor makes an underlying asset (i.e., the property, plant or equipment that is subject to the lease) available for use to the lessee. At the commencement date, the lease term begins and lease liability and the right-of-use asset is initially recognized and measured. Options - “Reasonably certain criteria” In assessing whether a lessee is reasonably certain to exercise an option to extend a lease, or not to exercise an option to terminate a lease, lessees and lessors shall consider all relevant facts and circumstances that create an economic incentive for the lessee to exercise the option to extend the lease, or not to exercise the option to terminate the lease. Lease payments Lease payments are defined as payments made by a lessee to a lessor relating to the right to use an underlying asset during the lease term. The Group decided to apply the practical expedient not to separate lease from non-lease components on the lessee side (except data centers; car fleet). As a result, lease and non-lease components will be considered a single lease component. In accordance with the recognition and measurement requirements in IFRS 16, the initial measurement of the lease liability includes variable lease payments that depend on an index or rate, e.g. the consumer price index (CPI) or a market interest rate, such as the Budapest Interbank Offered Rate (BUBOR). In contrast, variable lease payments that are not based on an index or rate (e.g. for example, variable lease payments linked to performance or usage of the underlying asset) and which are not in-substance fixed payments are not included in lease payments and recognized in profit or loss in the period in which the event or condition occurs that triggers those payments. Reassessment of the lease liability IFRS 16 specifies when the lease liability has to be reassessed. It is important to note that, in terms of IFRS 16, a reassessment of the lease liability only takes place if the change is based on already existing contractual clauses, i.e. those that have been part of the contract since commencement.

82 A lessee reassesses the lease term, i.e. whether it is reasonably certain to exercise an extension option, or not to exercise a termination option, upon the occurrence of either a significant event or a significant change in circumstances that: is within the control of the lessee; and affects whether the lessee is reasonably certain to exercise an option not previously included in its determination of the lease term, or not to exercise an option previously included in its determination of the lease term. Accounting for lease modifications A lease modification is defined as “a change in the scope of a lease, or the consideration for a lease, that was not part of the original terms and conditions of the lease (for example, adding or terminating the right to use one or more underlying assets, or extending or shortening the contractual lease term)”. Modification can result from a change in consideration only. The effective date of the modification is defined as the date when both parties agree to a lease modification. A lessee accounts for a lease modification as a separate lease if both of the following conditions are fulfilled: ▪ the modification increases the scope of the lease by adding the right to use one or more underlying assets; and ▪ the consideration for the lease increases by an amount equivalent to the stand-alone price for the increase in scope and any appropriate adjustments to that stand-alone price to reflect the circumstances of the particular contract. When these conditions are met, the modification is considered to result in the creation of a new lease that is separate from the original lease. The agreement for the right to use one or more additional assets is accounted for as a separate lease (or leases) to which the requirements of IFRS 16 are applied independently of the original lease. For a lease modification that is not a separate lease, i.e. that does not meet the conditions outlined above, at the effective date of the modification, the lessee accounts for the lease modification by remeasuring the lease liability using a discount rate determined at that date and: ▪ for lease modifications that decrease the scope of the lease, the lessee decreases the carrying amount of the right- of-use asset to reflect the partial or full termination of the lease, and recognizes a gain or loss that reflects the proportionate decrease in scope; and ▪ for all other lease modifications, the lessee makes a corresponding adjustment to the right-of-use asset. When a lease arrangement is modified, then the revised lease payments will always be discounted with a revised discount rate. This is different from the requirements for a reassessment of the lease, where only in specific cases a revised discount rate is required. Presentation and disclosures for the Group as lessee Statement of financial position The Group decided to present the right-of-use assets (separately from other assets) as well the lease liabilities as separate line items on the face of the statement of financial position. Statement of profit or loss and other comprehensive income In the statement of profit or loss and other comprehensive income the Group presents separately interest expense on the lease liability from depreciation for the right-of-use asset. Statement of cash flows The following items are presented within operating activities in the statement of cash flows: ▪ cash payments for the interest portion of the lease liability, according to the Group accounting policy to present interest payments in operating cash flows and; ▪ variable lease payments not included in the lease liability Cash payments for the principal portion of lease liability are presented within financing activities in the statement of cash flows.

83 Presentation and disclosures for the Group as lessor Presentation of leases in Statement of profit or loss and other comprehensive income and in Statement of financial position In the MT Group consolidated Statement of profit or loss and other comprehensive income, operating lease revenue is not disclosed separately from other revenue. There is only one-line item titled “Revenue”. In the Notes to the Financial Statements there is a further breakdown of Revenue provided including a breakdown of operating lease revenue by the Group segments. The operating lease revenue line item in the Note 18.3 is titled “Other sources”. The Group as a Lessor presents assets subject to operating leases in its statements of financial position according to the nature of the underlying asset. In the Group, portions of assets that are physically distinct and are identified as underlying assets (leases) are not presented separately from the whole asset in the statements of financial position. Other lease topics Sale and leaseback transactions Assessing whether the transfer of the asset qualifies as a sale. In the Group, both the short-term and the low value recognition exception have not been elected for any asset class. As a result, the Group seller-lessee will always recognize (materiality considered) sale-and-leaseback transactions on-balance sheet. To determine how to account for a sale-and-leaseback transaction, the Group first considers whether the initial transfer of the underlying asset from the seller-lessee to the buyer-lessor is a sale. The Group then applies IFRS 15 to determine whether a sale has taken place. This assessment determines the accounting by both the seller-lessee and the buyer-lessor, as follows. Accounting for sale and leaseback − Transfer of an asset is not a sale If the transfer of an asset is not a sale, the seller-lessee and the buyer-lessor account for the transaction as financing. Accounting for sale and leaseback − Transfer of an asset is a sale If control passes as defined in IFRS 15 (sale), the seller-lessee must recognize an asset at an amount equaling the pro-rata carrying amount arising from the pro-rata right-of-use retained. Any gains or losses from this transaction are also only recognized proportionately. Hence, the seller-lessee restricts the gain that it recognizes on the sale to the amount that relates to the portion of the underlying asset that has been transferred, i.e. to the buyer-lessor’s residual interest in the underlying asset. Sale and leaseback transactions had no material effect on financial statements of the Group. Subleases A sublease is defined as a transaction for which an underlying asset is re-leased by a lessee (‘intermediate lessor’) to a third party, and the lease (‘head lease’) between the head lessor and lessee remains in effect. In classifying a sublease, the Group, as the intermediate lessor, should classify the sublease as a finance lease or an operating lease in the same manner as any other lease using the criteria discussed in IFRS 16.61. At the commencement date of the sublease, if the Group cannot readily determine the rate implicit in the sublease, then it uses the discount rate that it uses for the head lease to account for the sublease, adjusted for any initial direct costs associated with the sublease. Subleases had no material effect on financial statements of the Group.

84 Presentation and disclosures for subleases No sublease specific balance sheet and income statement presentation rules apply to subleases. The Group applies the respective presentation rules that apply to other finance and operating leases. The Group does not offset assets and liabilities arising from a head lease and a sublease of the same underlying asset, unless the financial instruments requirements for offsetting are met. The same applies to lease income and lease expenses relating to a head lease and a sublease of the same underlying asset, unless the requirements for offsetting in IAS 1 are met. Under IFRS 16 the head lease and a sublease are two separate contracts that are accounted for under the lessee and lessor models, respectively. The general disclosure rules equally apply for the head lease and for subleases, either disclosures for finance sub-lessors or operating sub-lessors. Lessor accounting Finance lease – Definition A finance lease is a lease that transfers substantially all the risks and rewards incidental to ownership of an underlying asset to the lessee. The nature of finance lease arrangement are akin to financing the sale of an asset. The presentation in the financial statements departs from the legal lease form of the transaction and is based on the economic substance (i.e. as if the underlying lease asset was sold by the lessor to the lessee). Operating lease – Definition An operating lease is a lease that does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset. There is a typically simple short-term hire arrangement (an operating lease), whereby rental payments received are dealt with in profit or loss with the primary impact on the balance sheet relating to the timing of lease payments. 17.2 Finance leases 17.2.1 Finance lease – Group as lessor Finance leases mainly include equipment – offices, dark fibres, broadband network, sites – provided to business customers as part of IT service contracts where the Group is the service provider. Future lease receivables under finance leases at December 31, 2021 and 2021 are as follows: 12.31.2021 12.31.2022 Present value Interest component Minimum lease receipt Present value Interest component Minimum lease receipt Within 1 year ........................................... 331 28 359 287 36 323 1–2 years ................................................. 190 20 210 137 26 163 2–3 years ................................................. 110 14 124 100 19 119 3–4 years ................................................. 74 11 85 77 14 91 4–5 years ................................................. 64 8 72 42 10 52 After 5 years ............................................ 127 15 142 124 13 137 Total.................................................... 896 96 992 767 118 885 The interest component represents the unearned finance income. The present value due within one year is included in Other current financial assets, while the present value after one year is included in Other non-current financial assets. The finance income accruing to the company over the lease term is recognized in the Profit for the period (Interest income) see Note 23. The unguaranteed residual values accruing to the benefit of the company are insignificant.

85 17.2.2 Lease – Group as lessee Leases are mainly in respect of the rental of the new headquarters, mobile cell sites and sale and lease back of spaces in buildings accommodating telephone exchanges, and to a lesser extent, related to other buildings, network and other telecommunications facilities, equipment and vehicle. In most cases the contracts are denominated in HUF and EUR, the term of the leases is 2–15 years, considering the renewal options but no purchase options. Leases of buildings generally have lease terms between 2 and 13 years, in the case of telecom equipment 3 and 15 years, while these terms are between 2 and 5 years in relation for motor vehicles and other equipment. The Group’s obligations under its leases are secured by the lessor’s title to the leased assets. Generally, the Group is restricted from assigning and subleasing the leased assets and some contracts require the Group to maintain certain financial ratios. The maturity analysis of lease liabilities is disclosed in Note 5.1.3.The following are the amounts recognized in profit or loss: 2021 2022 Depreciation expense of right-of-use assets ........................................................ 18,874 20,319 Interest expense on lease liabilities ........................................................................ 5,634 6,114 Foreign exchange loss on lease liabilities .............................................................. 465 4,232 Income from subleasing right-of-use assets ........................................................ 62 73 Gains or losses arising from sale and leaseback transactions ........................... - - The Group had total cash outflows for leases of HUF 25,909 million in 2022 (HUF 20,046 million in 2021). The Company has various lease contracts that have not yet commenced as at December 31, 2022. The future lease payments for these non-cancellable lease contracts are HUF 9,676 million in 2022 (HUF 10,755 million in 2021). The amount of undiscounted potential future rental payments relating to periods following the exercise date of extension and termination options that are not included in the lease term is HUF 17,316 million in 2022 (HUF 14,331 million in 2021). The Group initially estimates and recognizes amounts expected to be payable under residual value guarantees as part of the lease liability. Typically the expected residual value at lease commencement is equal to or higher than the guaranteed amount, and so the Group does not expect to pay anything under the guarantees. At the end of each reporting period, the expected residual value is reviewed to reflect actual residual values achieved on comparable assets and expectations about future prices. As at December 31, 2022, there is no amount of residual value guarantees to which the Company is potentially exposed that are not reflected in the measurement of lease liabilities (HUF 88 million in 2021).

86 17.3 Operating leases – Group as lessor The following table includes the future minimum lease payments receivable by the Group for the operating leases of mobile tower sections, network, dark fiber, buildings and customer premise equipments where Magyar Telekom is the lessor. 12.31. 2021 12.31.2022 Within 1 year ............................................................................................................... 3,647 4,413 1–2 years ..................................................................................................................... 3,239 3,802 2–3 years ..................................................................................................................... 2,920 3,554 3–4 years ..................................................................................................................... 2,796 3,400 4–5 years ..................................................................................................................... 2,422 2,955 After 5 years ................................................................................................................ 1,167 1,321 Total................................................................................................................. 16,191 19,445 The lease income for operating leases is HUF 7,842 million in 2022. The Group has no lease income relating to variable lease payments that do not depend on an index or rate. The estimated expected credit loss on operating lease receivables considered to be not material and not recognized. The following table disaggregates class of property, plant and equipment into assets subject to operating leases: Land and buildings Telecom equipment Total 01.01.2021 Gross value ........................................................................................ 4,042 1,434 5,476 Accumulated depreciation ............................................................. (1,859) (750) (2,609) Carrying amount 01.01.2021 .................................................. 2,183 684 2,867 Carrying amount - 01.01.2021 ...................................................... 2,183 684 2,867 Additions ............................................................................................ 277 1,141 1,418 Disposal .............................................................................................. (227) (224) (451) Depreciation charge ........................................................................ (184) (366) (550) Carrying amount - 12.31.2021 ................................................ 2,049 1,235 3,284 12.31.2021 Gross value ........................................................................................ 3,995 2,754 6,749 Accumulated depreciation ............................................................. (1,946) (1,519) (3,465) Carrying amount 31.12.2021 .................................................. 2,049 1,235 3,284 Carrying amount - 01.01.2022 ...................................................... 2,049 1,235 3,284 Additions ............................................................................................ 79 6,991 7,070 Disposal .............................................................................................. (57) (77) (134) Depreciation charge ........................................................................ (122) (1,171) (1,293) Exchange differences 6 4 10 Carrying amount - 12.31.2022 ................................................ 1,955 6,982 8,937 12.31.2022 Gross value ........................................................................................ 4,003 9,664 13,667 Accumulated depreciation ............................................................. (2,048) (2,682) (4,730) Carrying amount 31.12.2022 .................................................. 1,955 6,982 8,937

87 18 REVENUE 18.1 Revenue – accounting policies 18.1.1 Sale of goods and Rendering of services The core principle of IFRS 15 is for companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration (that is, payment) to which the company expects to be entitled in exchange for those goods or services. Revenue should be recognized if it is probable that the Group will collect the consideration to which it will be entitled in exchange for the goods or services that will be transferred to the customer. If the Group determines that collectability is no longer ensured (e.g. because subsequently the customer’s ability or intent to pay significantly deteriorates), the Group must apply cash accounting for the remainder of the contract, i.e. for the outstanding goods and services to be provided. This reassessment does not affect recorded assets and revenue relating to performance obligations already satisfied. Revenue is recognized when or as performance obligations are satisfied by transferring control of a promised good or service to a customer. Control either transfers over time or at a point in time, which affects when revenue is recorded. As a practical expedient, the Group applies the guidance to a group of contracts with similar characteristics instead of to a single contract with a customer. A portfolio approach is acceptable if the Group can reasonably expect that the effect of applying a portfolio approach to a group of contracts or group of performance obligations would not differ materially from considering each contract or performance obligation separately. This implies that a portfolio of contracts with similar characteristics does not necessarily need to refer to homogenous products being included in these contracts. Main principles ▪ If the Group performs by transferring goods or services to a customer before the customer pays consideration or before payment is due, the Group shall present the contract as a Contract asset, excluding any amounts presented as a receivable. A contract asset is the Group’s right to consideration in exchange for goods or services that the Group has transferred to a customer. ▪ In the case of multiple-element arrangements (e.g., mobile contract plus handset) with subsidized products delivered in advance, a larger portion of the total remuneration is attributable to the component delivered in advance (mobile handset), requiring earlier recognition of revenue. This leads to the recognition of what is known as a contract asset in the Consolidated Statement of Financial Position. See Note 3.4 for more details. ▪ Incremental expenses for sales commissions (customer acquisition costs or costs of obtaining a contract) must be capitalized and presented on the Other current and non-current assets lines of the Consolidated Statement of Financial Position and recognized over the estimated customer retention period, see Note 3.4 for more details. ▪ Later recognition of revenue in cases where “material rights” are granted, such as offering additional discounts for future purchases of further products. ▪ Contract liabilities are netted off against the contract assets for each customer contract. ▪ The Group presents the revenue on gross basis (as principal) when it controls the specified goods or services before they are transferred to the customer, and it must be transferred by the Group. ▪ When the Group is a reseller of a supplier’s branded digital products and is the legal seller of these products, it should generally be considered primarily responsible towards the customer for providing the promised goods or services when both of the following conditions are fulfilled: ▪ The Group is the only party which the customer enters into a contract with; ▪ The Group must be the only party that is responsible towards the customer for product acceptability, providing support, handling complaints and rectifying product issues. (For further information for accounting policy change, see Note 2.2.1.) ▪ A significant financing component is not considered for the amount and timing of revenue recognition if the period between when a promised good or service is transferred to the customer and when the customer pays for that good or service will be one year or less. For service contracts covering period over one year, consisting specifically trade receivables over one year and contract assets, revenue is recognized using the effective interest method described in notes 3.4 and 4.1.2 , respectively. ▪ If the promise to grant a license is distinct from the other promised goods or services in the contract then the promise to grant the license is a separate performance obligation and the Group shall determine whether the license transfers to a customer is either at a point in time or over time.

88 18.1.2 Revenue from operating leases Revenue from operating leases is recognized as revenue on a straight line basis over the term of the lease. Lease incentives granted are recognized as an integral part of the total rental income, over the term of the lease. For further information, please see Note 17.3. 18.2 Revenue from major service lines 18.2.1 Mobile and Fixed line telecommunications revenue Revenue is primarily derived from services provided to Magyar Telekom’s customer subscribers and other third parties using Magyar Telekom’s telecommunications network and equipment sales. Customer subscriber arrangements typically include an equipment sale, subscription fee and charge for the actual voice, internet, data or multimedia services used. Subscription fees and flat rate revenue is recognized on over time basis in the period they relate to. Revenue for airtime services is recognized over-time. Revenue from fixed, mobile and TV services provided through narrow and broadband accesses are recognized over-time basis at post-paid contracts, while on usage basis at pre-paid contracts. Streaming TV service revenue is recognized on net basis, for further information see Note 2.2.1. Revenue from premium rate services typically include intermediated services (e.g. lottery, parking and public transport tickets, motorway toll) is generally recognized on net basis. Advertising revenue is recognized in the period that the advertisements are exhibited. Customers may also purchase prepaid mobile, public phone and internet credits (cards) which allow those customers to use Magyar Telekom’s telecommunications network for a selected amount of time. Customers must pay for such services at the date when the card is purchased. Revenue from the sale of cards is recognized when they are used by the customers or when the credits expire with unused traffic. Third parties using Magyar Telekom’s telecommunications network include roaming customers of other service providers and other telecommunications providers which terminate or transit calls on Magyar Telekom’s network. These wholesale (incoming) traffic revenue is recognized in the period of related usage. A proportion of the revenue received is often paid to other operators (interconnect) for the use of their networks, where applicable. The revenue and costs of these transit calls are stated gross in the Financial statements as the Group is the principal supplier of these services using its own network freely defining the pricing of the services and recognized in the period of related usage. Contracts are frequently sold to customers containing a cross subsidy between two or more components. A typical example is where a mobile phone is sold at a price significantly below its market value in a bundle with a service contract for a period of 12 or 24 months. From a commercial point of view, the subsidy on the mobile phone is compensated via the service fee. See also Note 3.4. With this adjustment requirement (also termed as "basic adjustment") a cross-subsidy or an overall bundle discount must be allocated to the individual components of the bundle consequently revenue reflects the standalone selling price of the good and/or service.

89 18.2.2 System integration and Information Technology revenue (SI/IT) Contracts for network services, which consist of the installation and operation of communication networks for customers, have an average duration of 2-3 years. Revenue from systems integration or installation contracts requiring the delivery of customized products and/or services is generally performed in projects and covered by fixed-price or time and material-based contracts. For fixed-price contracts, revenue is measured based on the input method that determined on the progress of performance. In this case revenue recognition is based on the efforts or inputs to the satisfaction of a performance obligation (resources consumed, labour hours expended, cost incurred, time elapsed or machine hours used) relative to the total expected inputs. In case of contracts billed on the basis of time and material, revenue is recognized over time. Ongoing operation of IT system – outsourcing contracts – reflects the extent of actual services delivered in the period in accordance with the terms of the contract, could be performed either on the equipment of the client or the Group’s (e.g. cloud, running, monitoring and maintenance services) related revenue invoiced on monthly basis (over-time). Revenue IT services delivered in the period in accordance with the terms of the contract are analyzed based on the IFRS 16 requirements – determining whether an arrangement contains a lease, and if they include embedded lease elements, the revenue attributable to these is recognized according to IFRS 16 – Leases as described in Note 17. Magyar Telekom transfers control of goods and services over time, therefore satisfies a performance obligation and recognizes revenue over time, if one of the following criteria is met: ▪ a customer simultaneously receives and consumes the benefit provided by Magyar Telekom’s performance as Magyar Telekom performs, containing services provided continuously during the contracted period (desktop services, database management services, operational and maintenance services). ▪ Magyar Telekom’s performance creates or enhances assets that the customer controls as the asset is created or enhanced or Magyar Telekom’s performance does not create an asset with an alternative use to Magyar Telekom and Magyar Telekom has an enforceable right to payment for performance completed to date, include project works covering a longer period whose measured based on input method and related revenue recognised accordingly. This kind of project works could contain e.g.: Information and communications Technology (ICT) network planning and related construction works with one or more milestones during of project period from revenue recognition point of view. If the performance obligation is not satisfied over time, Magyar Telekom satisfies the performance obligation at a point in time. Revenue from hardware sales or sales-type leases is recognized when the customer obtains the control over the product. Equipment revenue is recognized at a point in time. Revenue from software license sales provided by the Group to customers based on the principle-agent accounting method. See note 2.2.1 and 18.1.1.

90 18.3 Revenue in the Statement of profit or loss and other comprehensive income 18.3.1 Disaggregation of revenue from contracts with customers 2021 2022 Mobile revenue Voice retail ................................................................................................................... 118,652 115,203 Voice wholesale .......................................................................................................... 12,822 12,282 Data* ............................................................................................................................. 118,429 147,060 SMS ............................................................................................................................... 24,396 24,482 Equipment.................................................................................................................... 103,859 118,171 Other mobile revenue ................................................................................................ 10,842 15,980 Total Mobile revenue* ..................................................................................... 389,000 433,178 Fixed line revenue Voice retail ................................................................................................................... 37,063 34,946 Broadband retail ......................................................................................................... 62,796 73,545 TV .................................................................................................................................. 56,503 61,287 Equipment.................................................................................................................... 19,453 16,900 Data retail * .................................................................................................................. 12,703 13,226 Wholesale* ................................................................................................................... 19,951 20,971 Other fixed-line revenue*.......................................................................................... 14,646 16,144 Total Fixed-line revenue* ................................................................................ 223,115 237,019 System integration and IT revenue* ....................................................................... 80,734 76,472 Total revenue*.................................................................................................. 692,849 746,669 Of which: Revenue from contracts with customers* ............................................................. 686,971 738,827 Other sources .............................................................................................................. 5,878 7,842 * Revenue data restated based on an Accounting policy change related to principal versus agent recognition, for more details see Note 2.2.1 Other sources of revenue include real estate and network rental fees which is presented above in the Fixed-line wholesale and Fixed-line other revenue lines. None of the Group’s customers represent a significant source of revenue individually. Revenue from transactions with a single external customer (or group of entities that – knowingly to us – is under common control of a third party or government) does not exceed 10% of the Group’s revenue. Regarding geographical segmentation of revenue please see Note 33.

91 18.4 Assets and liabilities related to contracts with customers Contract assets of the Group consist of unbilled amounts typically resulting from sales under long-term contracts when revenue recognized exceeds the amount billed to the customer. Contract liabilities consist of advance payments and billings in excess of costs incurred and deferred revenue. Impairment losses recognized on contract assets are disclosed together with trade receivables in Note 4.2.2.2 and amounted to HUF 2,488 million as at December 31, 2022 (in 2021 HUF 2,208 million). As of December 31, 2022 the aggregate amount of the transaction price allocated to the remaining performance obligation is HUF 215,449 million and the Group will recognize this revenue as services are rendered, which is expected to occur over the next 1-114 months. 19 DIRECT COSTS 19.1 Telecom tax Telecom tax was introduced in Hungary for fixed and mobile voice and mobile SMS/MMS services, effective from July 1, 2012. The tax imposed on fixed and mobile usage amounts to HUF 2 per minute and HUF 2 per SMS/MMS for private individual subscribers’ subscriptions and to HUF 3 per minute and HUF 3 per SMS/MMS for non-private individual subscribers’ subscriptions. The tax is capped at HUF 700 and HUF 5,000 per month per calling number for private and non-private individuals’ subscriptions, respectively. 19.2 Other direct costs Other direct costs include costs of mobile and fixed devices, accessories and other equipment, agent commissions and non-voice direct costs. 12.31.2021 12.31.2022 Contract assets – current ......................................................................................... 20,745 18,586 Contract assets – non-current................................................................................. 4,143 3,960 Contract liabilities – current .................................................................................... (12,238) (13,153) Contract liabilities – non-current ............................................................................ (326) (405) Net contract assets (liabilities) ....................................................................... 12,324 8,988 Revenue recognized in the reporting period from amounts included in contract liability at the beginning of the period................................................... 9,325 9,723 Asset recognized from the costs to obtain contracts with customers ............ 6,571 7,402 Amortisation recognized as cost of obtaining contracts during the period ... (6,398) (6,470)

92 20 EMPLOYEE-RELATED EXPENSES 20.1 Employee-related expenses – accounting policies 20.1.1 Short-term employee benefits Short-term employee benefits are recognized as a current expense in the period when employees render their services. These include wages, social security contributions, bonuses, paid holidays, discounted telephone bills, meal and holiday contributions and other fringe benefits and the tax charges thereon. Payments to defined contribution pension and other welfare plans are recognized as an expense in the period in which they are earned by the employees. 20.1.2 Share-based compensation Magyar Telekom recognizes the costs of services received from its employees in a share-based payment transaction when services are received. Magyar Telekom recognizes a corresponding increase in its equity reserves (Reserve for equity settled share based transactions) if the services are received in an equity-settled share-based payment transaction. When the share-based compensation program is completed, i.e. the shares are transferred to the employees’ ownership or the share options have forfeited, the respective reserve is transferred to Retained earnings. If the services are received in a cash-settled share-based payment transaction, the Group recognizes the expense against a liability, re-measured to fair value at each financial statement date. Bonuses tied to the long-term performance of the Magyar Telekom and Deutsche Telekom shares are recognized in the Profit for the period at their time-proportioned fair value against an accumulating balance in Provisions. 20.1.2.1 Share Matching Plan of Deutsche Telekom Group (SMP) As of July 1, 2015, Magyar Telekom implemented a Share Matching Plan the participation in the program is mandatory for the Magyar Telekom Plc. Chief Executive Officer, and voluntary for all executive (ca 40). The participant can invest a minimum of 10% of his/her gross annual bonus in Deutsche Telekom shares, with an option to voluntarily increase this amount to a maximum of 50% (personal investment). These shares must be kept for at least four years (the lock-up period), the participant is granted matching shares upon expiry of the lock-up period. The share allocation ratio of the program (1:1 or 1:2) depends on the participant’s individual Management Group (MG) . Deutsche Telekom grants the matching shares to the participant based on the Deutsche Telekom shares acquired by the participant within the framework of the program. The program starts annually if the free cash flow target of Deutsche Telekom Group was met in the previous year. The program initiated by DT is settled in DT shares with the participants, meanwhile Magyar Telekom has to settle it with DT AG in cash at the same time participants are granted the DT shares therefore the actual closing balance of the program is presented as a related-party financial liability in the consolidated statements of financial positions as it is settled in cash from the perspective of Magyar Telekom and is due to be paid to DT AG. In 2022 HUF 45 million was recognized as expense for the program (2021: HUF 31 million). 20.1.2.2 Long-term incentive program (LTI) As of January 1, 2015 Magyar Telekom changed its existing LTI program, turning it into a share-based compensation program. The 2022 LTI program is a global, Deutsche Telekom Group-wide incentive program. Approximately 40 executives may participate in the program. The CEO’s participation is unconditional, while other executives may participate only if the evaluation of the participant's performance in the previous year meets the requirements. LTI is payable in cash tied to the achievement of four key strategic indicators. In the framework of the program, in each year a new four-year tranche is to be launched. Payment is due after the end of the program term depending on the evaluation of the achievement of the pre-set targets (0 to 150%). At the beginning of the program, the relevant incentive amount is converted into a number of virtual shares of DT AG and awarded to the plan participant in the form of virtual shares (basic number). The annual level of target achievement is determined at the end of each year. This target achievement level is multiplied on a pro rata basis by the basic number of virtual shares awarded. The number of virtual shares calculated using this method shall then be "fixed" for the plan participant as the binding result for that specific year ("annual result"). At the end of the plan term, the four binding annual results shall be added together. The resulting total number of virtual shares shall be converted into cash applying the prevailing price of DT AG shares at that time, which is paid to the plan participants. For dividend payments during the plan term, the virtual shares shall be treated as real shares. The dividends shall be taken into account as follows: The first/second/third dividend payments shall be “reinvested” into virtual shares when the actual dividends are paid on real shares. The fourth (and last) dividend payment shall not be reinvested but paid in cash together with the plan payment following the DT AG shareholders' meeting at which a decision is made regarding this dividend payment. The plan

93 currency is euro. In 2022 HUF 1,064 million was recognized as expenses for the program (2021: HUF 586 million). 20.1.3 Game Changer Incentive (GCI) The Game Changer Incentive program is a global, Deutsche Telekom Group-wide incentive program for employees in Management Group 1 and 2 and for selected group of employees in Management Group 3. The program covers four years the period from January 1, 2022 to December 31, 2025. Payments under the program are made subject to the performance parameters, KPIs and target achievement levels. First payment is expected in the first quarter of 2023, the amount of the bonus payout depends on Management level and target achievement. HUF 323 million was recognized as expense for the program in 2022. 20.1.4 Repeated Performance Incentive (RPI) The RPI honored repeated, extraordinary collective performance, which was measured by the overachievement as defined bonus KPI. The group-wide relevant bonus KPI is EBITDA unadjusted. RPI was for a defined group of Executives (incl. Business Leaders) at Deutsche Telekom Group. It was a four-year plan, running from 2018 to 2021. If the target achievement (KPI) was met in two consecutive years as defined in the policy regarding the RPI, the first year was only considered as the year of eligibility. HUF 1,130 million was recognized as expense for the program in 2021 that fully paid out in 2022. The amount of the bonus payout depended on Management level, target achievement of the segment and the number of years of consecutive overperformance. The program ended in 2021, with final pay-outs in 2022. 20.1.5 Termination benefits Termination benefits are payable whenever an employee’s employment is terminated before the nominal retirement date or whenever an employee accepts voluntary redundancy in exchange for these benefits. The Group recognizes termination benefits when it is demonstrably committed to either terminate the employment of current employees according to a detailed formal plan without the possibility of withdrawal or to provide termination benefits as a result of an offer made to encourage voluntary redundancy. 20.2 Employee-related balances in the Statement of financial position Liabilities payable on incentive plans and termination benefits recognized as provision in the consolidated statement of financial position and annual movements for 2022 and 2021 disclosed in Note 13.2. Short-term liabilities on employee benefits (Salaries and wages) as of 2022 and 2021 presented in Note 14. 20.3 Employee-related expenses in the Statement of profit or loss and other comprehensive income 2021 2022 Short-term benefits (Note 20.1.1) .................................................................... 75,829 77,938 Termination benefits (Note 20.1.5) .................................................................. 2,920 2,487 Equity-settled share-based compensations (SMP) (Note 20.1.2.1) .......... 31 45 Cash-settled share-based compensations (LTI) (Note 20.1.2.2) ............... 586 1,064 Cash-settled compensation (GCI) (Note 20.1.3) ........................................... - 323 Cash-settled compensations (RPI) (Note 20.1.4) .......................................... 1,130 - Total before capitalization ........................................................................ 80,496 81,857 Expenses capitalized............................................................................................ (4,616) (4,568) Total............................................................................................................ 75,880 77,289 Total costs expensed in relation to defined contribution plans (including social security contribution)............................................................................... 11,275 10,527 Average number of employees (full time equivalent) .................................. 6,932 6,737 Closing number of employees (full time equivalent) .................................... 6,786 6,711 Capitalized expenses represents the employee related costs incurred in connection with developments and recognized as a cost of an intangible or tangible assets.

94 21 OTHER OPERATING EXPENSES 2021 2022 Cost of other purchased services ............................................................................ (a) 40,088 42,327 Marketing expenses ................................................................................................... 9,053 9,537 Utility tax ...................................................................................................................... 7,332 7,447 Energy costs ................................................................................................................ 7,245 10,514 Other operating expenses ......................................................................................... 12,021 11,096 Total ................................................................................................................. 75,739 80,921 Research costs recognized by the Group were not material in the presented years. (a) Audit costs included in Cost of other purchased services Cost of other purchased services, among others, include expenses incurred in relation to the audit of the separate and consolidated financial statements of the Group and is certain subsidiaries as well as other services which were settled in 2022 with Deloitte Könyvvizsgáló és Tanácsadó Kft. (Deloitte), while in 2021 with PricewaterhouseCoopers Könyvvizsgáló Kft. (PwC) as follows. 2021 2022 Audit of the financial statements ........................................................................... 392 429 Other audit-related fees ........................................................................................... 19 6 Other non audit-related fees* ................................................................................. 105 27 Total expenses paid to Deloitte/PwC ............................................................. 516 462 *Services provided by PwC in the first quarter of 2022 and their fees. Audit of the financial statements is the aggregate fees of PwC and Deloitte in connection with the audit of the annual financial statements and services performed in relation to legal obligations and submissions required by regulatory provisions. Review of the quarterly financial statements is also included, as well as information systems and procedural reviews and testing to understand and place reliance on the systems of internal control. Other audit-related services mainly include costs of other professional auditing services provided by the Auditor beyond the audit of the financial statements, as well as fees of other audit procedure necessary for meeting the reporting requirements arising from relevant legislation and internal regulations applicable to the Group. Other non-audit related fees are fees of PwC and Deloitte primarily related to consulting services and services like participation by Magyar Telekom employees in conferences and training sessions. 22 OTHER OPERATING INCOME 2021 2022 Gain on the disposal of Pan-Inform (Note 8.2) ..................................................... - 3,289 Gain on the sale of PPE, Intangible assets and assets held for sale - net ........ 751 594 Income received for the relocation and reconstruction of own network ........ 901 914 Brand license fee ........................................................................................................ 300 600 Other ............................................................................................................................. 2,009 2,824 Total.................................................................................................................. 3,961 8,221

95 23 INTEREST INCOME 2021 2022 Interest income on receivables and loans ............................................................. 292 1,484 Interest income from finance leases ...................................................................... 13 11 Unwinding of interest component of provisions .................................................. - 17 Dividend income ......................................................................................................... 57 76 Total.................................................................................................................. 362 1,588 24 INTEREST EXPENSE 2021 2022 Interest expense payable to DT ............................................................................... 937 2,616 Interest expense on lease liabilities ........................................................................ 5,634 6,114 Interest expense on frequency fee liabilities ........................................................ 5,067 4,687 Other interest expense .............................................................................................. 1,558 3,329 Interest component of provisions ........................................................................... 728 1,117 Borrowing costs capitalized ..................................................................................... (157) (267) Total.................................................................................................................. 13,767 17,596 Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset form part of the cost of that asset. Other borrowing costs are recognized as an expense. Borrowing costs include interest and other costs that the Group incurs in connection with the borrowing of funds. The borrowing costs eligible for capitalization are capitalized applying the weighted average of the borrowing costs applicable to the general borrowings of the Group that are outstanding during the period. For further information see Note 9.1. and 10.1 A qualifying asset is an asset that necessarily takes a substantial period of time, in general over 12 months, to get ready for its intended use. Total Interest expense is shown net of borrowing costs capitalized using average borrowing rates of 0.67%-2.34% in 2022 (2021: 0.47%-1.14%). When calculating the borrowing rates, Other finance expenses (included in Note 25) are also considered. 25 OTHER FINANCE EXPENSE – NET 2021 2022 Fee expense ................................................................................................................. 5,139 5,086 Net foreign exchange losses / (gains) on financial instruments ....................... 2,059 24,637 Other net foreign exchange losses / (gains) ......................................................... 37 (357) Losses / (gains) on the subsequent measurement of derivatives contracted with related parties .................................................................................................... (6,972) (20,450) Losses / (gains) on the subsequent measurement of financial assets at fair value through profit or loss (other than derivatives) ........................................... 11 (106) Losses / (gains) on the subsequent measurement of financial liabilities at fair value through profit or loss (other than derivatives) .................................... 17 (9) Total................................................................................................................ 291 8,801 The significant foreign exchange loss on financial instruments in 2022 is due to the dramatical weakening of HUF exchange rates. Major part of the foreign exchange exposure is covered by derivatives, therefore the negative foreign exchange impact of the HUF movement is partially offset. The high amount of gains on the subsequent measurement of derivatives contracted with related parties in 2022, beyond the foreign exchange movement effect, was due to the considerable increasing of HUF interest environment. During 2021 the market condition changes were different, as HUF exchange rate had lower volatility and slightly weakened against EUR, however the HUF interest rates started growing, furthermore in 2021 the volume of derivatives was different.

96 26 CHANGES IN THE GROUP 26.1 Business combinations 26.1.1 Acquisition of ITgen Kft. In November 2017 T-Systems Magyarország Zrt. signed a Share Purchase Agreement to acquire a 100% stake in ITgen Kft., an SAP technology and security specialist firm, for a purchase price plus a potential earnout payment totaling to a maximum of HUF 1.2 billion, dependent on 2018, 2019 and 2020 financial performance. The closing of the transaction took place in January 2018. From the total purchase price HUF 799 million was paid in cash in 2018 while HUF 180 million, HUF 120 million and HUF 180 million (in 2019, 2020 and 2021 respectively) was paid from the earnout payment totaling to HUF 480 million remeasured at the time of last payment date of 2021. 26.1.2 Cable TV network and operations In 2021 the Group acquired a number of cable TV businesses in individually insignificant transactions meanwhile in 2022 there was not any new acquisition. All these acquisitions qualified as business combinations of the MT-Hungary operating segment. The vast majority of the total purchase price was paid in cash in years of acquisitions. The table below shows the summary of the transactions. 2021 2022 Consideration transferred................................................................................................... 1,497 - Less: Fair value of the net assets acquired ...................................................................... (1,483) 266 Total difference between consideration transferred and net asset acquired ...... 14 266 - thereof goodwill ................................................................................................... 14 266 - thereof gain on bargain purchase..................................................................... - - The impact of Cable TV acquisitions was insignificant during 2021 and 2022, therefore disclosed data are comparable without any adjustment. The goodwill recognized in 2022 is related to a 2021 acquisition where the initial accounting for one of the business combinations has been determined only provisionally. The measurement of the net assets was finalized in 2022 and the fair value of the net assets acquired has been decreased by HUF 266 million, with a corresponding increase in goodwill. 26.2 Disposal of Pan-Inform Kft In December 2021 T-Systems Magyarország Zrt. signed a sales purchase agreement with the Hungarian State on the sale of its subsidiary Pan-Inform Kft., the scope of the agreement covers the support and development operations provided for central healthcare services in Hungary and the related hospital information system. The closing of the transaction and the settlement of the HUF 5.5 billion purchase price took place at the end of January 2022. This subsidiary was not considered a separate cash generating unit, therefore it did not constitute a discontinued operation. This subsidiary was previously classified as held for sale. See also Note 8.2. As Pan-Inform was sold in January, 2022, and its exclusion from the Group’s operations was not significant, it does not affect the proforma information.

97 27 EARNINGS PER SHARE Basic earnings per share is calculated by dividing profit attributable to the owners of the Company for the period by the weighted average number of common stocks outstanding. Furthermore, the weighted average number of common stock outstanding is determined by deducting the weighted average number of treasury shares held by Magyar Telekom Plc. All figures are presented in the Consolidated statements of profit or loss and other comprehensive income. There was no transaction resulting dilutive shares in the reported periods therefore the presented basic and diluted EPS are equal in 2021 and 2022. 28 PURCHASE OF PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS The table below shows the reconciliation of investments in property, plant and equipment and intangible assets and the cash payments made for these investments from continuing operations. Capitalized borrowing costs are included in the Investments in PPE and intangible assets, where applicable. 12.31.2021 12.31.2022 Investments in property, plant and equipment (Note 9.2) .......................... 79,423 95,537 Investments in Right-of-use assets (Note 9.2) ............................................... 22,940 30,161 Investments in intangible assets (Note 10.2) ................................................. 113,755 33,692 Total investments in PPE and intangible assets ..................................... 216,118 159,390 Capitalized asset-related grant ......................................................................... (b) (1,418) (2,675) Capitalized annual frequency fee payable ...................................................... (a) (83,075) - Change in Right-of-use assets ........................................................................... (22,940) (30,161) Recognition / (Derecognition) of investment tax credit ............................... (d) 2,341 1,769 Change in trade payables relating to capital expenditures ......................... (c) (120) (7,106) Cash payments for purchases of PPE and intangible assets ................... 110,906 121,217 (a) The present value of the frequency fees is capitalized as part of the intangible asset (licenses) if the future payments can be reliably estimated, however, these fees are paid in cash in subsequent periods. The cash payments on the discounted liability are included in the Repayment of lease and other financial liabilities line of the Financing cash flow, while the interest payments accruing on the discounted liability are included in the Interest and other financial charges paid line of the Operating cash flow. The significant license acquisitions are described in Notes 10.5 and 34.2. (b) In 2022 HUF 2,669 million is paid by the government. It is presented in Notes 4.2.4.2 and see also Notes 9 and 14 for government grants relating to the purchase of PPE. (c) Change in payables relating to capital expenditures includes the effect that the actual cash settlement of the vendor invoices is made subsequent to the recognition of the investment. (d) For further information of Recognition / (Derecognition) of investment tax credit see also Notes 6. 29 PURCHASE OF SUBSIDIARIES AND BUSINESS UNITS 12.31.2021 12.31.2022 Acquisition of ITgen Kft. (Note 26.1.1) .................................................................. 180 - Cable TV businesses (Note 26.1.2) ......................................................................... 1,497 - Cash payments for purchases of subsidiaries and business units ................ 1,677 - Cash payments related to the purchases of subsidiaries and business units include advance payments made before the closing of the transaction, the initial purchase price paid on the closing of the transaction as well as amounts paid as additional contingent purchase prices disbursed in years following the year of the business combination.

98 30 CONTINGENT ASSETS AND LIABILITIES 30.1 Contingent assets A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the occurrence of uncertain future events not within the control of the Group. These assets are not recognized in the statement of financial position. The Group has no contingencies where the inflow of economic benefits would be probable and material. 30.2 Contingent liabilities No provision is recognized for contingent liabilities. A contingent liability is a possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events (excluding executory contracts) not wholly within the control of the entity; or a present obligation that arises from past events but is not recognized because it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation or the amount of the obligation cannot be measured with sufficient reliability. The most significant contingent liabilities of the Group are described below. No provisions have been recognized for these cases, as management estimates that it is unlikely that these claims originating from past events would result in any material economic outflows from the Group, or the amount of the obligation cannot be measured with sufficient reliability. 30.2.1 Hungary 30.2.1.1 Guarantees Magyar Telekom Plc. is exposed to risks that arise from the possible drawdown of guarantees, for which see more details in Note 4.5.4. 30.2.2 Norh Macedonia 30.2.2.1 Contingent liabilities Makedonski Telekom has a contingent liability in the claimed amount of MKD 240 million (HUF 1.6 billion) in respect of a court case for damage compensation against Makedonski Telekom for alleged abuse of the dominant position on the market for access to data transfer networks. Based on legal advice and strong legal arguments presented in the court procedure, management believes that it is not probable that the court procedure will result in liability of the claimed size. 31 PURCHASE COMMITMENTS 31.1 Purchase commitments for tangible and intangible assets The table below summarizes Magyar Telekom’s contractual purchase commitments for tangible and intangible assets with the majority falling due within two years. 12.31.2021 12.31.2022 Property, plant and equipment ............................................................................... 6,977 16,290 Intangible assets......................................................................................................... 6,243 2,307 Total.................................................................................................................. 13,220 18,597 31.2 Purchase commitments for businesses As at December 31, 2022 and 2021 the Group had no significant committed business combinations.

99 32 RELATED-PARTY TRANSACTIONS Related-parties of the Group include legal entities and persons that are related to the Group. A person or a close member of that person's family is related to the Group if that person: ▪ has control or joint control of the reporting entity; ▪ has significant influence over the reporting entity; or ▪ is a member of the key management personnel of the reporting entity or of a parent of the reporting entity. An entity is related to a reporting entity if any of the following conditions apply: ▪ The entity and the reporting entity are members of the same group (which means that each parent, subsidiary and fellow subsidiary is related to the others). ▪ One entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of a group of which the other entity is a member). ▪ Both entities are joint ventures of the same third party. ▪ One entity is a joint venture of a third entity and the other entity is an associate of the third entity. ▪ The entity is a post-employment benefit plan for the benefit of employees of either the reporting entity or an entity related to the reporting entity. If the reporting entity is itself such a plan, the sponsoring employers are also related to the reporting entity. ▪ The entity is controlled or jointly controlled by a person related to the entity or such a person holds a key position in the reporting entity. ▪ The entity, or any member of a group of which it is a part, provides key management personnel services to the reporting entity or to the parent of the reporting entity. The transactions with related parties are priced at arm’s lengths basis. Based on the impairment test no impairment was recognized for receivables from related-parties in the reported years. 32.1 Deutsche Telekom Group and the Federal Republic of Germany 32.1.1 Deutsche Telekom Group Deutsche Telekom AG is the ultimate (indirect) controlling owner of Magyar Telekom Plc., holding 61.39% of the Company’s shares. Deutsche Telekom Group has a number of fixed-line, mobile and IT service provider subsidiaries worldwide, with whom the Group has regular transactions. The table below summarizes the above related party transactions and balances with DT Group. 12.31.2021 12.31.2022 Revenue from services provided to DT Group companies ................. 20,646 24,629 Costs of services provided by DT Group companies ........................... (19,253) (21,297) Income from support services provided to DT Group companies .... 89 379 Interest expense to DTIF ........................................................................... 23 (487) - Interest expense to DT AG ........................................................................ 23 (455) (2,616) Dividend paid to parent company ........................................................... (9,262) (9,290) Accounts receivable from DT Group companies ................................. 5,543 7,993 Accounts payable to DT Group companies ........................................... (12,089) (13,241) Loans payable to DT AG ............................................................................ 4.4.1 (128,258) (161,944) Fair value of swap agreements with DT AG – asset ............................ 4.2.3 16,715 31,723 Fair value of swap agreements with DT AG – liability ......................... 4.4.3 (20) (2,035)

100 32.1.2 The Federal Republic of Germany The Federal Republic of Germany is both a direct and an indirect shareholder and holds approximately 30.5% of the share capital of DT AG. Due to the average attendance at the shareholders’ meetings in previous years, the Federal Republic of Germany represents a solid majority at the shareholders’ meetings of DT AG, although it only has a minority shareholding, making DT AG a dependent company of the Federal Republic. Therefore, the Federal Republic and the companies controlled or jointly controlled by the Federal Republic are classified as related parties of DT AG, and consequently of Magyar Telekom as well. DT AG and Magyar Telekom did not execute, as part of its normal business activities, any transactions that were individually material in the 2022 or 2021 financial year with companies controlled or jointly controlled by the Federal Republic. 32.2 Board and Supervisory Board members 2021 2022 Remuneration of the members of the Board of Directors* ................................ 22 26 Remuneration of the members of the Supervisory Board .................................. 37 37 Loans granted to the members of the Board of Directors.................................. - - Loans granted to the members of the Supervisory Board ................................. - - * Exemption for the independent members, members of the Board of Directors waived their remuneration or offered their remuneration for charity. The honorarium offered for charitable purposes is HUF 8.4 million in 2022 (HUF 5.4 million in 2021). 32.3 Key management Key management has been identified as the members of the Company’s Chief Officers. The Chief Executive Officer (CEO) and the other Chief Officers (Chief Officers) together fulfill the Chief Operating Decision Maker (CODM) function in the Group. The table below shows, in total, the compensation expenses (including social security and other payroll-related taxes) incurred by the Group in relation to the key management. 2021 2022 Salaries and other employee benefits ............................................................. 1,152 1,264 Contractual termination expense .................................................................... - 1 Share-based compensation (Note 20.1) ........................................................ 20 32 1,172 1,297 Of which costs expensed in relation to defined contribution plans (including social security contribution) .......................................................... 157 162 Detailed information on the remuneration of the Board of Management and the Supervisory Board is published in the separate remuneration report. The Group does not provide loans to its key management.

101 33 REPORTABLE SEGMENTS AND INFORMATION ABOUT GEOGRAPHICAL AREAS 33.1 Segment information The Group’s segments are reported in a manner consistent with the internal reporting provided to the CODM, the key management of Magyar Telekom Plc. The CODM of Magyar Telekom Plc. is responsible for allocating resources to, and assessing the performance of, the operating segments on a monthly basis. The Chief Officers assess the performance of the Group and make their decisions. The accounting policies and measurement principles of the operating segments are very similar to those applied for the Group described in Note 2. The differences primarily originate from the fact that the operating segments’ annual results are determined and closed at an earlier stage, around January 8–10 each year, than these Financial statements. Any items discovered and requiring adjustment between the closing date of the segment results and the approval date of the Financial statements are reflected in the next year’s segment results. The operating segments’ revenue includes revenue from external customers as well as the internal revenue generated from inter-segment support services. The operating segments’ results are monitored by the Company’s management down to EBITDA AL (Earnings before interest, tax, depreciation and amortization but including the depreciation and interest of Right-of-Use assets) level. The Company’s management does not monitor the assets and liabilities at segment level. Another important KPI monitored at segment level is capital expenditure (CAPEX) and CAPEX AL (after lease, excluding the Capex of Right-of-Use assets and spectrum licenses) which is determined as the annual investments in PPE and Intangible assets. 33.2 Reportable segments Magyar Telekom’s operating segments are: MT-Hungary and North Macedonia. The MT-Hungary segment operates in Hungary, providing mobile and fixed line telecommunications, TV distribution, information communication and system integration services to millions of residential and business customers under the Telekom brand (as the earlier used T-Systems brand was ceased to be used in November 2022). Residential, Small and Medium sized business as well as business customers (corporate and public sector customers) are now served by the unified Telekom brand. The MT-Hungary segment is also responsible for the wholesale of mobile and fixed line services within Hungary, and performs strategic and cross-divisional management, as well as support functions on behalf of the Group including Procurement, Treasury, Real Estate, Accounting, Tax, Legal and Internal Audit. This segment is also responsible for the Group’s points of presence in Bulgaria and Romania, where it primarily provides wholesale services to local companies and operators. The North Macedonia segment is responsible for the Group’s full-scale mobile and fixed line telecommunications operations in North Macedonia.

102 33.2.1 Information regularly provided to the CODM The following tables present the segment information by reportable segment regularly provided to the CODM, reconciled to the corresponding Group numbers. This includes several key indicators of profitability that are considered for the purposes of assessing performance and allocating resources. Management believes that Revenue, EBITDA, EBITDA AL and Capex, Capex AL are the most appropriate indicators for monitoring each segment’s performance and are the most consistent with how the Group’s results are reported in these financial statements. Revenue 2021 (restated*) 2022 Total MT-Hungary revenue* ............................................................................ 627,683 670,510 Less: MT-Hungary revenue from other segments....................................... (119) (119) MT-Hungary revenue from external customers ....................................... 627,564 670,391 Total North Macedonia revenue* ................................................................... 65,120 75,329 Less: North Macedonia revenue from other segments .............................. (57) (60) North Macedonia revenue from external customers ............................... 65,063 75,269 Total consolidated revenue of the segments ........................................... 692,627 745,660 Measurement differences / rounding between segment and Group revenue ................................................................................................................... 222 1,009 Total revenue of the Group ....................................................................... 692,849 746,669 MT-Hungary revenue 2021 (restated*) 2022 Voice ....................................................................................................................... 114,793 112,596 Non-voice* ............................................................................................................. 131,182 153,959 Equipment.............................................................................................................. 94,452 106,438 Other ....................................................................................................................... 9,283 13,295 Total mobile revenue* ............................................................................... 349,710 386,288 Voice retail ............................................................................................................. 32,062 29,688 Broadband - retail................................................................................................. 57,666 67,716 TV ............................................................................................................................. 51,046 55,271 Equipment.............................................................................................................. 19,232 16,717 Other* ..................................................................................................................... 39,661 42,260 Total fixed-line revenue* ........................................................................... 199,667 211,652 SI/IT revenue*........................................................................................................ 78,306 72,570 Total revenue of the MT-Hungary segment* ........................................... 627,683 670,510 * Revenue data restated based on an Accounting policy change related to principal versus agent recognition, for more details see Note 2.2.1

103 North Macedonia revenue 2021 (restated*) 2022 Voice ....................................................................................................................... 16,681 14,889 Non-voice* ............................................................................................................. 11,643 17,583 Equipment.............................................................................................................. 9,407 11,733 Other ....................................................................................................................... 1,562 2,692 Total mobile revenue* ............................................................................... 39,293 46,897 Voice retail ............................................................................................................. 5,001 5,258 Broadband - retail................................................................................................. 5,130 5,829 TV ............................................................................................................................. 5,457 6,016 Equipment.............................................................................................................. 221 183 Other* ..................................................................................................................... 7,590 7,244 Total fixed-line revenue* ........................................................................... 23,399 24,530 SI/IT revenue*........................................................................................................ 2,428 3,902 Total revenue of the North Macedonia segment*.................................... 65,120 75,329 * Revenue data restated based on an Accounting policy change related to principal versus agent recognition, for more details see Note 2.2.1 As other sources of revenue represent an insignificant part of total revenue, we assumed regarding segment revenue that total revenue is revenue from contracts with customers.

104 2021 2022 Segment results MT-Hungary .............................................................................................................. 213,034 218,974 North Macedonia ...................................................................................................... 27,778 29,312 Total EBITDA of the segments .............................................................................. 240,812 248,286 Measurement differences / rounding between segment and Group EBITDA ........................................................................................................................ (41) (340) Total EBITDA of the Group ..................................................................................... 240,771 247,946 Depreciation of Right-of-Use Assets of MT-Hungary ....................................... (18,128) (19,415) Depreciation of Right-of-Use Assets of North Macedonia ............................... (746) (904) Unallocated items .................................................................................................... (129,088) (118,449) Total Depreciation and amortization of the Group ...................................... (147,962) (138,768) Interest expense of Right-of-Use Assets of MT-Hungary ................................ (5,521) (5,981) Interest expense of Right-of-Use Assets of North Macedonia ........................ (113) (133) Unallocated items .................................................................................................... (8,062) (18,695) Total Net financial result of the Group ......................................................... (13,696) (24,809) MT-Hungary .............................................................................................................. 189,385 193,578 North Macedonia ...................................................................................................... 26,919 28,275 Total EBITDA AL of the segments ................................................................. 216,304 221,853 Measurement differences / rounding between segment and Group EBITDA AL .................................................................................................................. (41) (340) Total EBITDA AL of the Group ....................................................................... 216,263 221,513 Unallocated items .................................................................................................... - 26 Share of associates’ and joint ventures’ results ........................................... 26 Unallocated items .................................................................................................... (16,266) (17,321) Total Income tax of the Group....................................................................... (16,266) (17,321) Total Profit for the period .............................................................................. 62,847 67,074 Capital expenditure (Capex) on PPE, Intangible assets and Right-of-use assets 12.31.2021 12.31.2022 MT-Hungary ................................................................................................................ 115,939 133,419 North Macedonia ........................................................................................................ 16,281 23,395 Total capital expenditure of the segments .................................................... 132,220 156,814 Acquisition of mobile licenses (Note 10) ............................................................... 84,152 3,092 Other measurement differences between segment and Group Capex ........... - - Total investments of the Group in PPE and Intangible assets ...................... 216,372 159,906

105 Capex AL 12.31.2021 12.31.2022 MT-Hungary ................................................................................................................. 177,211 104,123 North Macedonia ......................................................................................................... 16,221 25,622 Total Capex AL of the segments ..................................................................... 193,432 129,745 Measurement differences to Capex AL of the Group ........................................... - - Total Capex AL of the Group ........................................................................... 193,432 129,745 The acquisition of mobile licenses is not considered part of the Capex measure of the segments. Total investments of the Group in PPE and Intangible assets correspond to the “Investments” lines disclosed in Notes 9, 10 and 28. 33.3 Information about geographical areas The table below shows the revenue generated from external customers in the countries where the Group operates, using the same measurement principles as for the corresponding Group numbers. As other sources of revenue represents an insignificant part of total revenue, we assumed regarding geographical areas of revenue that total revenue is revenue from contracts with customers. Revenue 2021 (restated*) 2022 Hungary ......................................................................................................................... 619,069 659,473 North Macedonia ......................................................................................................... 65,063 75,269 Romania......................................................................................................................... 5,240 7,514 Bulgaria ......................................................................................................................... 3,477 4,413 Total revenue of the Group ............................................................................. 692,849 746,669 * Revenue data restated based on an Accounting policy change related to principal versus agent recognition, for more details see Note 2.2.1 The table below shows the Non-current assets of the Group located in the countries of operations (including goodwill allocated to operating segments operating in these countries) and the reconciliation to the total Non-current assets of the Group, using the same measurement principles as for the corresponding Group numbers. Non-current assets 12.31.2021 12.31.2022 Hungary ......................................................................................................................... 1,019,921 1,027,963 North Macedonia ......................................................................................................... 102,967 118,841 Romania......................................................................................................................... 2,861 4,125 Bulgaria ......................................................................................................................... 3,759 5,094 Total excluding Other non-current financial assets, Trade receivables over one year, Derivative financial instruments contracted with related parties and Deferred tax assets ...................................................................... 1,129,508 1,156,023 Other non-current financial assets (Note 4.2.4.2) ................................................ 3,768 3,796 Trade receivables over one year (Note 4.2.4.3) .................................................... 18,953 22,806 Derivative financial instruments contracted with related parties (Not 4.2.3) 16,415 31,723 Deferred tax assets (Note 6.3.2) .............................................................................. 125 742 Total Non-current assets of the Group ........................................................... 1,168,769 1,215,090

106 34 REGULATED MARKETS AND PROCEDURES Magyar Telekom’s primary activities are the fixed-line and mobile operations in Hungary. These services are regulated by European and Hungarian legislation. The most important features of the regulation of these services are described below. The regulation of the Hungarian telecommunications markets is primarily based on Act C of 2003 on Electronic Communications (Eht.) and the decrees issued by the President of the National Media and Communications Authority (NRA). The NRA is an independent regulatory body which, in addition to its law enforcement activities, also legislates on the basis of legal authority. Hungary implemented Directive 1972/2018 / EU (EECC) partially by December 21, 2020 (with Section 16 of the Electronic Communications Act being applicable June 30, 2021). The EECC regulates fix and mobile call termination rates in the whole EU/EEA by a Delegated Act, but the legal framework for formerly regulated markets remains largely unaffected by the EECC. 34.1 Access regulation Regulated markets are governed by EU Commission’s recommendations. Paralel to the EECC, the Commission produced a new recommendation replacing Recommendation 2014/710 / EU: 2020/2245/EU. The new recommendation only covers two markets: ▪ Wholesale access for mass-market products ▪ Wholesale high-quality access at a fixed location National NRA’s, nonetheless, have the power to diverge from this recommendation. The former Hungarian regulation designates 4 regulated markets, Magyar Telekom is currently designated as an SMP operator (a service provider with significant market power) on all of these. M1: With regards the fix networks’ regulated interconnection (M1) the NRA published its fifth-round market analysis procedure’s resolution on May 15, 2018, according to which, the obligations were extended to a total of 144 telephone service providers. After that, from 1 July 2021, the fixed voice termination rate - regardless of the rate in the effective market decision - is determined by Commission Regulation (EU) 2021/654 on the basis of the EECC, which was HUF 0.2494/minute converted for the year 2022.The latest MARIO and supplementary interconnection service fees came into force on January 1, 2020. M2: The Company is designated as an SMP operator (a service provider with significant market power) in the mobile wholesale call termination market and subject to the Commission Regulation (EU) 2021/654 regarding the termination charge of calls into its network, mobile termination rate (MTR). The rate of the MTR for the year 2022 was HUF 1.6747/minute.The last mobile market resolution was published in two folds: one resolution only contains the SMP designation, with the obligationswhile with regards to obligations, the NRA delivered a separate resolution. M3: Magyar Telekom is Hungary’s leading fixed-line broadband service provider in the wholesale market and one of the leading ones in the retail market. In accordance with the effective resolution, all retail fixed products shall be ‘reproducible’ by competitors based on the wholesale service. Consequently, the full retail portfolio shall have a wholesale equivalent. Previous regulation defined a retail minus price setting. The NRA published the latest resolutions with regards to markets 3a (M3a) and 3b (M3b) on December 15, 2017. SMP operators are obliged to prepare reference unbundling offer for access to (physical) passive network infrastructure (RUO) and to provide these services when there is a request for them by other telecommunications service providers. The reference offer of each SMP operator must be approved by the NRA. The latest market resolution introduced the geographical segmentation, thus relieving the company of obligations in certain competing settlements. Magyar Telekom was designated as an SMP in both 3a and 3b markets. Service fee calculation for all relevant regulated services – both markets 3a (resolution PC/17915-66/2017.) and 3b (resolution PC/17920-66/2017.) - are with a BU-LRIC+ model. New fees had to be applied as of January 1, 2019.

107 As a novelty the geographically segmented regulation was implemented with the last resolution. As a result, in those settlements where competition bases, Magyar Telekom’s SMP was withdrawn. In the M3a resolution a new service obligation has been introduced, the L2-WAP (Layer 2 Wholesale Access Service) obligation. The NRA has published the latest reference unbundling offer – containing the L2WAP service – through its resolution PC/16593-31/2018. on November 6, 2019. The revised reference offer entered into force on December 1, 2019. The L2-WAP service is to be offered sixth months after the entry into force of the revised reference offer, i.e. June 1, 2020. M4: In the high-quality broadband market (M4) the NRA published its resolution (PC/12186-44/2018.) on February 27, 2019. Magyar Telekom has been designated as the SMP for the “Ethernet leased line termination segment service”. According to the resolution Magyar Telekom is subject to SMP obligations throughout Hungary, providing high-quality access at a regulated cost-based price. 34.2 Spectrum procedures In June 2012, the Hungarian Parliament adopted the modification of the Electronic Communications Law extending the scope of competence and tasks of the NRA. Pursuant to the amendment, all spectrum-related issues are dealt with by the NRA. On December 7, 2004, the Company obtained the spectrum usage right of certain frequency blocks in the 2100 MHz band for the deployment and operation of an IMT2000/UMTS mobile telecommunications system (3G system). The duration of the spectrum license was 15 years (until December 7, 2019) that was extended for another 7.5 years in December 2018 for a one-time fee of HUF 11 billion. The Company won a tender for a spectrum usage right for a 26 GHz block on April 30, 2009. On May 14, 2012 the NRA granted spectrum license to Magyar Telekom for four pieces of basic spectrum blocks (4 x 2 x 28 MHz each) in the 26 GHz band. Furthermore, Telekom acquired GTS Hungary Ltd’s two blocks in the 26 GHz band for HUF 114.6 million HUF net, and has a usage right for it from November 1, 2016. Blocks purchased in 2009 were extended in 2018. The Company filed an auction bid in December 2011 with the NRA for the right of use of unused spectrum in the 900 MHz frequency band, related to the provision of mobile telecommunications services. The spectrum can be utilized in a technology-neutral manner. The NRA announced its first-instance decision on the result of the 900 MHz auction (Auction) on January 30, 2012. Magyar Telekom won the right of use of two duplex frequency blocks of 1 MHz each for a period of 15 years. On September 6, 2013 Magyar Telekom and the NRA signed the modification of the Authority Contract on the use of the 900 MHz and 1800 MHz frequency bands. The main stipulations of the modification are the following: On May 22, 2014, the NRA published the “Documentation for the tender announced in the subject of spectrum licenses for broadband services”. Blocks in 800 MHz / 900 MHz / 1800 MHz / 2600 MHz and 26 GHz frequency bands were auctioned. On September 29, 2014 the NRA published the tender results so that Magyar Telekom acquired the following frequencies for an aggregate amount of HUF 58,650 million: ▪ 2 x 10 MHz in 800 MHz ▪ 2 x 2 MHz in 900 MHz ▪ 2 x 30 MHz in 2600 MHz ▪ 2 x 10 MHz in 1800 MHz. On October 15, 2014 Magyar Telekom and the NRA signed the Authority Contract on the use of the 800MHz, 900 MHz and 1800 MHz frequency bands that came into force right on that day. For the new bands the frequency license and radio permission were issued on October 17, 2014 to Magyar Telekom. As a result of the last tender Magyar Telekom acquired frequency usage rights in the above listed spectrums till June 15, 2029. The Authority Contract can be extended another five years if all requirements defined in the contract are met. On July 18, 2019, the NRA published the “Documentation for the auction announced in the subject of spectrum licenses for 5G services”. Blocks in the 700 MHz / 2100 MHz / 2600 MHz and 3600 MHz frequency bands were auctioned.

108 On March 26, 2020 the NRA published the bidding results of the auction so that Magyar Telekom acquired the following frequencies for HUF 54,240 million: ▪ 2 x 10 MHz in 700 MHz ▪ 2 x 10 MHz in 2100 MHz ▪ 1 x 120 MHz in 3600 MHz. As a result of the auction Magyar Telekom acquired frequency usage rights in the above-listed spectrums till April 3, 2034. The usage rights can be extended another five years if all requirements defined in the documentation are met. On October 16, 2020, the NRA published the “Documentation for the auction announced in the subject of spectrum licenses for 900 MHz and 1800 MHz bands”. Usage rights shall be valid for 15 years starting from April 2022 and might be extended another five years if all requirements defined in the documentation are met. Magyar Telekom submitted its participation request on November 10, 2020. Six lots of 2 x 5 MHz blocks were sold in the 900 MHz band, and 12 lots of 2 x 5 MHz blocks were sold in the 1800 MHz band. Magyar Telekom acquired 2 x 8 MHz in the 900 MHz spectrum band while 2 x 20 MHz in the 1800 MHz spectrum band. On 8 November 2022 the NRA published the draft documentation of the planned auction procedure to be announced for the entitlements to the radio spectrum use of the 32 GHz frequency band and a call for consultation that was held on 22 November 2022. 34.3. Universal services Universal services are basic communications services (including access to communication services at a fixed location, public payphones, directory and directory enquiry services) that should be available to all customers at an affordable price. The NRA published its request for voluntary universal service provisioning on January 19, 2018. Magyar Telekom did not bid on any parts of the universal services, so the NRA designated Magyar Telekom to offer the following universal services from January 1, 2019: public payphones, access on fixed location and for national directory enquiry service. As a result of the procedure Magyar Telekom lost two primary areas to serve (Szekszárd – nr74 and Paks – nr75) and received a new one (Szeged - nr62). The EECC brings a new framework in universal services as well – Magyar Telekom was able to let go of some of the obscure obligations of the past (printed directory), while Hungary will have to ensure affordable and available internet access to consumers. This obligation obligation will likely affect Magyar Telekom, with a decision on the specific content of the service is still to be delivered by the NRA. 34.4. End-user rights Since June 30, 2007, an EU regulation has been regulating international roaming tariffs for wholesale and retail customers on the basis of a price cap system. The first EU roaming regulation prescribed a glide-path that mandated annual reductions of wholesale and retail prices. (EU Roaming Regulation I.) As of July 2009. the EU also introduced regulated tariffs for SMS and data roaming similarly to the regulation of voice roaming. (EU Roaming Regulation II.) As of July 1, 2012. the EU further broadened the European roaming regulation with a new regulatory measure: separate sales of regulated roaming services. As a result, Magyar Telekom had to implement the technical possibility to host an Alternative Roaming Provider in its network and also it allows its own customers to use Local Break-out solutions within the EU offered by a foreign EU member country’s mobile operator from July 1, 2014. (EU Roaming Regulation III.) The actual EU roaming regulation - “Full Roam Like At Home With Fair Use Policy Possibility” - is applied from June 15, 2017. (EU Roaming Regulation IV.). As a result, European retail roaming price levels for voice, SMS and data are equal to domestic prices since summer 2017. The Commission implementing regulation (EU) 2016/2286 of 15 December 2016 laid down detailed rules on the application of fair use policy and on the methodology for assessing the sustainability of the abolition of retail roaming surcharges and on the application to be submitted by a roaming provider for the purposes of that assessment. In addition, the Company has implemented, by the required deadline of May 15, 2019, Regulation (EC) No 2018/1971 of the European Parliament and of the Council supported by BEREC and BEREC Office, and according to the modified

109 Regulation (EU) 2015/2120, taking into account the withdrawal decision of regulation 1211/2009/EC regulation, the reduction of charges for international calls and SMSs to member states of the European Union. The EECC affected all customer relations of Magyar Telekom and it is prepared for compliance with serious IT- developments as well as changes in our processes. 34.5 Macedonian Mobile The Group is also present in the North Macedonian mobile market through its subsidiary, Makedonski Telekom AD Skopje (MKT, previously T-Mobile). The North Macedonian telecommunications sector is regulated by the Electronic Communications Law (ECL) enacted in March 2014 as primary legislation and rulebooks as secondary legislation. On September 5, 2008, Agency for Electronic Communications (NRA), ex officio, issued a notification to T-Mobile for those public electronic communication networks and/or services which has been allocated thereto under the Concession Contracts. The license for radiofrequencies used by T-Mobile in the GSM 900, bad was issued also in a form regulated in the ECL with a validity period until September 5, 2018, which was renewed in 2018 for additional 10 years until 2028. Due to the changes in the bylaws, the 900 MHz band is opened for UMTS technology and based on MKT’s request the radiofrequency license is changed so that these frequencies are now technology neutral. Decision for granting 2x15 MHz license on 2100 MHz was announced in 2008. The validity of the license was 10 years i.e. until December 17, 2018. The license was renewed in 2018 for 10 years, until 2028 in accordance with the ECL. An auction procedure concluded in August 2013 awarded the whole 790 – 862 MHz band together with the unassigned spectrum in the 1740–1880 MHz band for Long Term Evolution (LTE) technology in a public tender. Each of the 3 North Macedonian mobile operators, at that time, obtained an LTE radiofrequency license of 1x10 MHz in the 800 MHz band and 2x15 MHz in the 1800 MHz band. Each license was acquired for a one-off fee of EUR 10.3 million (approximately HUF 3.2 billion). The license is for 20 years, until December 1, 2033, with an extension option for additional 20 years, in accordance with the ECL. After the merger of One and VIP, A1 Macedonia (former one.VIP) submitted a request on November 18, 2016 to NRA for change of the licenses for using radio frequencies in land mobile service with record numbers 108269/1, 108271/1, 104068, 104069, 104711, 108269/2 and 108267/2. NRA brought resolution not to approve the reshuffling request of One.VIP. In tender procedure, new license in 2100 MHz (2x15 MHz) was issued to MKT. New license in 2100 MHz (2x10 MHz) was issued also to A1 Macedonia. License validity is until end of 2028. In direct awarding procedure on 11 th July 2022 NRA issued new license in 700 MHz and 3.x GHz (5G) to MKT (2x10 MHz on 700 MHz and 100 MHz on 3.x GHz). License validity is 15 years. Same amount of spectrum was also issued to A1 Macedonia. On December 19, 2014, amendments of the ECL were enacted. Many significant changes were made to the ECL, with the Balkan Roaming Regulation being one of the most important changes made in line with EU Roaming III regulation. The glide path for roaming prices reduction finished on July 1, 2017. In 2019, regulatory bodies of the West Balkan countries (WB6) (North Macedonia, Montenegro, Serbia, Bosnia, Albania, Kosovo) introduce roaming regulation, starting with RLAH+ surcharge model from July 1,.2019 until June 30, 2021. From July 1, 2021 RLAH – (Roam Like At Home) model regulation shall be in place. With this regulation, the international termination rates between the WB6 countries were also decreased. Both mobile operators on the market, Makedonski Telekom and A1 Macedonia are designated as operators with SMP status on the relevant wholesale market “Access and call origination on public mobile networks”. NRA imposed same regulatory remedies for both operators: ▪ mobile access obligation for all MVNO hybrid types (including Reseller), ▪ cost based price for Full MVNO, ▪ retail minus (-35%) for the Reseller, ▪ obligation for access to MMS services and mobile data based on technology neutrality. An MVNO, Lyca Mobile hosted on A1 network entered the Macedonian market and started retail operations in July 2016 under regulated wholesale conditions. Also, from October 2020, new MVNO (Green Mobile) started operating, hosted on

110 A1 network as reseller. As latest MVNO emerged in October 2022 is MTel (Telekom Srbija subsidiary) also hosted on A1 network. The cable operator Telekabel which on the market is already present by offering fixed services (voice, broadband and TV), in January 2019 started operating as an MVNO hosted on Makedonski Telekom mobile network under regulated wholesale conditions. Both operators, Makedonski Telekom and A1 Macedonia are designated as operators with SMP status on the relevant wholesale market “Wholesale call termination on public mobile networks”. The current termination rates are symmetrical for Makedonski Telekom and A1 Macedonia, but Lyca Mobile has high asymmetry starting from May 2018. With the new analysis of the relevant market in 2020 symmetry was implemented also for Lyca Mobile from July 1, 2020. The license duration of two licenses previously owned by VIP was until 2017, 10 MHz from 900 MHz band and 10 MHz from 1800 MHz band expired on March 23, 2017, positioned in the lower parts of the bands. At the request from A1 Macedonia (former one.VIP) for license prolongation, the NRA adopted resolution No. 0804-974 from November 2, 2016 not to prolong these two licenses. At the moment these radiofrequencies are not allocated and these are not available for sale, they are saved for a third entrant. On May 26, 2017 A1 Macedonia submitted a request to the NRA for change of the license for using radio frequencies in land mobile service with registered number 108267/2, whereby the following radiofrequency block was allocated: 1770- 1785/1865-1880 MHz. On October 9, 2017, the NRA issued resolution for refusal of A1 Macedonia’s request for reshuffling on 1800 MHz. Based on the appeal submitted by A1 Macedonia, in September 2019 the reshuffling request on 1800 MHz was finally approved by the NRA, due to a court decision in favor of A1 Macedonia. In the 1800 MHz range A1 Macedonia will get huge continuous block of 35 MHz effective October 15, 2019. Based on MKT request, NRA prolonged the licenses on 900 (2x12.5 MHz), 1800 (2x10 MHz) and 2100 (2x15 MHz) for additional 10 years validity (until 2028-2029) without onetime fee. License 2x10 MHz on 1800 MHz owned by A1 Macedonia was prolonged in March 2022. In April 2019, Ministry of Information Society and Administration issued National Broadband Strategy which sets the following targets: ▪ By the end of 2023 at least one major city should be covered with 5G signal; ▪ By the end of 2025 the regional highways and state highways set NRA should be covered by a continuous 5G signal; ▪ By the end of 2027 all urban areas will be covered by a continuous 5G signal; ▪ By the end of 2029 everyone will have access to 5G internet with a minimum internet speed of at least 100 Mbps; ▪ By the end of 2029, at least 50% of the total number of subscriber contracts of households across the country should have internet access of at least 100 Mbps; ▪ By the end of 2029 all households in the Republic of North Macedonia will have affordable access to a network that provides download speeds of at least 100 Mbps with the possibility of upgrading to gigabit speed; ▪ By the end of 2029, all public institutions (schools, universities, research centers and other educational institutions, health institutions, ministries, courts, local governments and other public authorities and bodies,) should have symmetric access to the Internet of at least 1Gb/s; Based on public debate at the beginning of 2021 NRA adopted changes in the Rulebook on Radiofrequencies fees: ▪ Decrease of RF fees from 3.x GHz for 50% (from 4,000 EUR/MHz to 2,000 EUR/MHz) ▪ Decrease of RF fees for 700 MHz for 50% (from 11,480 EUR/MHz to 5,740 EUR/MHz) ▪ Decrease of RF fees above 55 GHz (E band RF links) for 50% (from 4,000 EUR/250 MHz to 2,000 EUR/250 MHz) 34.6 Macedonian Fixed line Makedonski Telekom has SMP obligations in several regulated markets for fixed services. At the beginning of 2015, the regulation for access to fiber was implemented, with Local Bitstream Access over NGA on level 3 and 4 and VULA (Virtual Unbundled Local Access) regulation on level 2. The introduction of new technologies (VDSL Vectoring technology in 2017) announced by MKT for the retail customers led to the introduction of new wholesale access products and reshaping of the regulatory obligations.

111 The final document for the wholesale central access for mass-market products provided at a fixed location market analyses (Market 6) was published in April 2017. For the first time NRA imposed a regulation on the access to Hybrid Fiber Coaxial Access (HFC). All existing obligations for the copper and fiber network remain unchanged after the new analysis in 2022. All obligations apply to the MKT and to the A1 Macedonia operator as SMP on the broadband market. The amendments from September 2016 with a new obligation to register the new and existing electronic networks (ATLAS), refer to the joint building and use of networks and a new obligation for NRA to publish the received reports on the optic backbone segment measurements by all operators. NRA published tender for USO provider in October 2021, for the period 2022 to 2026, and one of the main criteria is the required amount for a refund. According to the results from the tender, Makedonski Telekom is designated for universal service provider until 2026 for Fixed access and access for disabled users (voice and internet of minimum 12Mbit/s download) A1 Macedonia was designated for Public payphones. R3 Infomedia signed contract with the NRA for the Telephone Directory and Directory Inquiry universal services. Following the market trends and the EU regulation, the NRA made decisions for deregulation on several markets: trunk segment of leased lines and avoiding regulation of the Ethernet leased line services; minimal set of leased lines (retail); WLR (Wholesale Line Rental) market; traditional retail fixed voice services (access and traffic). MKT has a cost-based price obligation for the regulated wholesale services, using Long Run Incremental Costs methodology (LRIC). In the middle of 2019 NRA implemented ERT testing (margin squeeze methodology) to NGA based broadband wholesale services supplied by the two dominant operators (MKT and A1Macedonia). The developed ERT model will test the economic replicability of the retail bundles including broadband services with access speed higher than 30 Mb/s. 35 EVENTS AFTER THE REPORTING PERIOD There were no significant events after the reporting period. Budapest, February 22, 2023

114 SUMMARY ON 2022 OPERATIONS Financials Magyar Telekom delivered revenue and EBITDA AL results overperforming the targets communicated for 2022 thanks to the successful monetization of its quality networks coupled with appealing service offerings. Group revenue rose by 7.8% year-on-year to HUF 746.7 billion and EBITDA AL reached HUF 221.5 billion representing a 2.4% increase year-on-year. In 2022, CAPEX after lease excluding spectrum licenses grew to HUF 126.7 billion, reflecting the further acceleration in network related investments to meet customer demand, in both Hungary and North Macedonia. As a result of that and the introduction of the supplementary telecommunication tax in Hungary free cash flow excluding spectrum licenses amounted to HUF 50.9 billion in 2022. Network In 2022, Magyar Telekom continued its flagship investments in both country of operation which aim to provide its customers with an outstanding network that they require and appreciate, whether they are at home or on the move. Fiber roll-out program in Hungary proceeded with pace, with close to 380 thousand further access points added to its gigabit network, thus making the Group able to provide gigabit speed at more than 3.4 million access points in Hungary by the end of the year. This translates to over 75% of its fixed infrastructure. Magyar Telekom also made strong progress in the comprehensive mobile radio network modernization project allowing it to meet the surging mobile data demand as well as to steadily expand 5G. In North Macedonia the Group completed the modernization of the whole network whilst in Hungary over half of the mobile network has gone through the modernization process by the end of 2022. In addition to the progress with RAN modernization in Hungary, the 3G network retirement was executed supporting the transition from legacy technology towards more energy efficient infrastructure, allowing the Group to increase throughput capacities by redeploying relevant frequency bands to deliver 4G and 5G services. Magyar Telekom also successfully secured some new frequencies in the 700 megahertz and 3.6 gigahertz bands in North Macedonia in July 2022, enabling the introduction of gigabit speed 5G service in this market as well. Customers The Group’s efforts to provide outstanding infrastructure, excellent service and tailor-made solutions to its customers led to continued increase in customer satisfaction, reflected in the sustained positive momentum in its customer base: fixed broadband subscriber base expanded by 7% and by now over 1.2 million broadband customers are connected via a gigabit capable technology to its network. On the mobile side, data consumption continued to rise sharply; the average monthly mobile data usage per customer rose by over 25% year-on-year to 10 GB. Both of these developments strongly supported value creation; ARPUs in all of the major service categories continued to grow throughout 2022. Resilience In parallel to the above positive commercial developments, however, the supplementary telecommunication tax and other external headwinds driving cost inflation intensified in 2022, making the company’s efficiency measures vital for protecting its profitability. In this context, the Group implemented a price increase across certain residential and business contracts during the year, whilst the Group’s right to inflation-based price adjustment, to be first implemented as of March 1, 2023, in now in force across its customer contracts. Furthermore, to ensure uninterrupted energy supply and mitigate risks associated with energy price volatility, the Group took further steps to diversify its energy sources by securing both traditional and renewable energy contracts on a short- and long-term basis. Magyar Telekom received further recognition of these efforts and progress by Scope Rating, which has affirmed its BBB+ issuer credit rating with a stable outlook, and specifically emphasized Magyar Telekom’s strong and stable positions in the domestic mobile and broadband markets and moderate leverage.

116 1 THE GROUP’S SHARE CAPITAL, VOTING RIGHTS AND TRANSFER OF SHARES As of December 31, 2022, the share capital of Magyar Telekom Plc. was HUF 100,580,135,200, consisting of 1,005,801,352 Series “A” dematerialized ordinary shares. All Series “A” ordinary shares have a nominal value of HUF 100. Rights and obligations related to Series “A” ordinary shares are described in detail in Section 4 of the Articles of Association (http://www.telekom.hu/about_us/investor_relations/corporate_governance/corporate_governance_documents ). On June 23, 2022, the Court of Registry registered the Group’s capital decrease that was decided upon at its Annual General Meeting held on April 12, 2022. The Group’s share capital consequently was decreased from HUF 104,274,254,300 to HUF 100,580,135,200 with the cancellation of 36,941,191 pieces of dematerialized series “A” ordinary shares, owned by the Group (treasury shares), each with the face value of HUF 100. Information concerning the Group’s ownership structure as of December 31, 2022 is described in the following table: Shareholder Number of shares Percentage of share capital Deutsche Telekom Europe B.V................................................................. 617,436,759 61.39 Publicly traded ............................................................................................ 345,285,760 34.33 Treasury shares ........................................................................................... 43,078,833 4.28 1,005,801,352 100.00 Deutsche Telekom Europe B.V. owning 64.13% of Magyar Telekom’s voting rights is a member of the Deutsche Telekom Group. The ultimate controlling parent of Magyar Telekom is Deutsche Telekom AG (DT or DT AG). Deutsche Telekom Europe B.V. does not have different voting rights than our other shareholders and, as with our other shareholders, Deutsche Telekom Europe B.V. is entitled to one vote per each ordinary share that it owns. 1.1 Voting Rights and Voting The holder of each Series “A” ordinary share shall be entitled to one vote at the General Meeting of Magyar Telekom. The names of shareholders and nominees who intend to participate at the General Meeting shall be registered in the Share Register on the second working day prior to the starting date of the General Meeting. The General Meeting shall adopt its resolutions by a simple majority vote except for resolutions on issues listed in the Articles of Association, which shall require at least a three-quarters majority of the votes cast. There is no limitation on the rights of non-resident or foreign shareholders to hold or exercise voting rights on the ordinary shares. There is no limitation of voting rights for ordinary shares in the Articles of Association. Magyar Telekom has no shares assigned with special management rights. 1.2 Transfer of Shares For the transfer of dematerialized shares, a contract for transfer or other legal title is required and, in that context, the transferor’s securities account shall be debited and the new holder’s securities account shall be credited with the transferred dematerialized shares. The holder of dematerialized shares shall be considered the holder of the securities account on which the dematerialized shares are recorded. The transfer of any Series “A” ordinary shares is not bound to any restriction or attainment of agreement. 2 CORPORATE GOVERNANCE 2.1 Annual General Meeting The General Meeting has the exclusive right to approve and amend the Articles of Association (section 5.2. (a)) unless otherwise provided by law or the Articles of Association. According to the Articles of Association, the Board of Directors is entitled to make decisions regarding any change in the registered seat, sites, branch offices and – except for the main activity – the scope of activities of the Group and in relation to this, to modify the Articles of Association (section 6.4.(p)).

117 2.2 Board of Directors The Board of Directors operates based on its Rules of Procedure (https://www.telekom.hu/about_us/investor_relations/corporate_governance/board_of_directors ). The Board of Directors is responsible for all matters relating to the Group’s management and course of business not otherwise reserved to the General Meeting or to other corporate bodies by the Articles of Association or by the laws. The Board of Directors draws up, at the end of each business year, a report for the General Meeting and quarterly to the Supervisory Board on the management of the Group, the assets of the Group, the financial situation of the Group and the business policy of the Group. The rules of competence regarding the capital increase and purchase of treasury shares are detailed in Sections 5.2 (b) and (p) as well as 6.4. (l) and (m) of the Articles of Association. The General Meeting with its Resolution No. 11/2022 (IV.12.) authorized the Board of Director to purchase Magyar Telekom ordinary shares for 18 months starting from the date of approval of the resolution. The relevant resolution is available on the General Meetings section of the Group’s website. Pursuant to the Articles of Association, the Board of Directors consists of a minimum of five and a maximum of eleven members elected by the General Meeting for a term of three years, unless otherwise provided by the General Meeting. On December 31, 2022, the Board of Directors had eight members. Meetings of the Board of Directors are held at least four times a year. Meetings of the Board of Directors require the presence of at least the majority of the members for a quorum. Each member of the Board of Directors has one vote. The Board of Directors passes resolutions by a simple majority vote. On December 31, 2022, members of the Board of Directors, their principal occupation and the years of their original election were as follows: Name Born Principal Occupation Member since Dr. Robert Hauber ........................ 1971 Senior Vice President Group Controlling, Deutsche Telekom AG, Chairperson of the Board of Directors of Magyar Telekom Plc. 2017 Daria Aleksandrovna Dodonova 1976 Chief Financial Officer of Magyar Telekom Plc. 2020 Gábor Fekete……………………………. 1950 Consultant 2020 Elvira Gonzalez ............................. 1975 Senior Vice President B2B Europe, Deutsche Telekom AG 2022 Frank Odzuck ................................ 1959 Chief Executive Officer of Zwack Unicum Plc. 2006 Péter Ratatics ............................... 1982 President of the Management Board of INA d.d., Consumer Services Executive Vice President of MOL Group 2019 Tibor Rékasi ................................... 1973 Chief Executive Officer of Magyar Telekom Plc. 2018 Melinda Szabó .............................. 1971 Senior Vice President B2C Europe, Deutsche Telekom AG 2022 The members’ assignment lasts until May 31, 2025.

118 2.3 Management As part of the corporate governance simplification initiative, the Board of Directors of Magyar Telekom resolved to cease the activity of the Management Committee established in 2000 as a formal corporate decision-making body with effect from January 1, 2020. The tasks and responsibilities of the Management Committee have been re-allocated to the Chief Officers and to the Board of Directors of the Group. As a result of this change, the Management Committee transformed into an agile „Leadership Squad”. On December 31, 2022, the members of the Management and the years of their original election were as follows: Name Born Current position Member since Tibor Rékasi ......................................... 1973 Chief Executive Officer of Magyar Telekom Plc. 2013 Daria Aleksandrovna Dodonova ...... 1976 Chief Financial Officer 2020 Zoltán Pereszlényi .............................. 1978 Chief Commercial Officer 2022 Zsuzsanna Friedl ................................. 1977 Chief People Officer 2017 Gábor Gonda ....................................... 1976 Chief Commercial Officer Enterprise, Chief Executive Officer of T-Systems Hungary Ltd. 2020 Lubor Zatko .......................................... 1974 Chief Technology and IT Officer 2019 2.4 Supervisory Board The Supervisory Board carries out its activities based on its Rules of Procedure (https://www.telekom.hu/about_us/investor_relations/corporate_governance/supervisory_board). The Supervisory Board shall examine all submissions to be submitted to the General Meeting and present its opinion thereof at the General Meeting. The General Meeting may pass a resolution on a report pursuant to the Accounting Act and the use of the profit after income tax only upon receipt of the written report of the Supervisory Board. The Supervisory Board makes a proposal directly to the General Meeting regarding the election, remuneration and removal of the Statutory Auditor. Pursuant to Magyar Telekom’s Articles of Association, the Supervisory Board consists of five members (three independent members and two employee representatives) elected by the General Meeting for a term of three years, unless otherwise provided by the General Meeting. The employee representatives in the Supervisory Board shall be nominated by the Central Workers’ Council. Meetings of the Supervisory Board have a quorum if two-thirds of the elected members but at least three members are present. On December 31, 2022, the members of the Supervisory Board, their principal occupation and the years of their original election were as follows: Name Born Principal Occupation Member since Prof. Dr. Attila Borbély................ 1951 Professor Emeritus of University of Debrecen, Faculty of Economics and Business, Chairperson of the Supervisory Board of Magyar Telekom Plc. 2020 Gyula Bereznai………………………….. 1978 Chairman of the Central Workers’ Council, Magyar Telekom Plc. 2022 Krisztina Dorogházi...................... 1972 Senior Vice President Chief Accounting Officer and Controller, TechnipFMC 2020 András Szakonyi ........................... 1973 Senior Vice President Global Data Centers, Iron Mountain 2020 Endre Szepesi ............................... 1966 Member of the Workers Council, Magyar Telekom Plc. 2022 The members’ assignment lasts until May 31, 2025.

119 2.5 Audit Committee The Audit Committee operates based on its Rules of Procedure (https://www.telekom.hu/about_us/investor_relations/corporate_governance/audit_committee). The members of the Audit Committee have been elected by the General Meeting from the independent members of the Supervisory Board for the same period as their membership in the Supervisory Board. On December 31, 2022, the members of the Audit Committee were as follows: ▪ Prof. Dr. Attila Borbély ▪ Krisztina Dorogházi ▪ András Szakonyi 2.6 Remuneration and Nomination Committee The Remuneration and Nomination Committee is established by the Board of Directors of the Group to support the Board of Directors of the Group regarding the remuneration and certain nomination related issues of the members of the corporate bodies and the top executives of the Group in accordance with its Rules of Procedure (https://www.telekom.hu/about_us/investor_relations/corporate_governance/compensation). The Remuneration and Nomination Committee, among others, makes recommendations to the Board of Directors on the establishment and/or termination of employment, and the modification of the employment contract of the Chief Executive Officer and the Chief Officers, and defines the remuneration of the Chief Executive Officer and the Chief Officers of the Group. The Remuneration and Nomination Committee consists of three members. The members are elected by the Board of Directors from among its members. The Remuneration and Nomination Committee holds at least two meetings each year. On December 31, 2022, the members of the Remuneration and Nomination Committee were as follows: ▪ Dr. Robert Hauber ▪ Elvira Gonzalez ▪ Frank Odzuck 2.7 Corporate Governance and Management Report Magyar Telekom Plc. is a public limited company listed on the Budapest Stock Exchange. In 2004, the Budapest Stock Exchange issued its Corporate Governance Recommendations (the Recommendations) containing recommendations related to the corporate governance practice of companies listed on the Budapest Stock Exchange, taking account of the most commonly used international principles, of experiences gathered in Hungary, and of the characteristics of the Hungarian market as well as the Companies Act. The Recommendations were updated in 2007, 2008, 2012, 2018 and in 2021. The Recommendations effective from time to time is available at the website of the Budapest Stock Exchange: https://bse.hu/Issuers/corporate-governance-recommendations/Corporate-Governance-Recommendations In line with the current regulations, the Board of Directors of Magyar Telekom approved the Corporate Governance and Management Report of the company (report) prepared in accordance with the Corporate Governance Recommendations and submitted it to the General Meeting. The report – along with other corporate governance related documents - is published in the Corporate Governance section of the website of Magyar Telekom: http://www.telekom.hu/about_us/investor_relations/corporate_governance/corporate_governance_documents Companies listed on the stock exchange are required to express their views on their corporate governance practices in two ways. In the first part of the report they have to give account of the corporate governance practices applied by their company in the given business year, including their corporate governance policy, and a description of any unusual circumstances. In the second part of the report, the issuers should give an account on their compliance with each point of the Recommendations in accordance with the "comply or explain" principle, including any reasons for derogating from a specific recommendation and/or proposal. When an issuer does not apply a recommendation or applies it in a different way, they should explain where the differences are and offer a reason for such derogation (‘comply or explain’ principle). This method allows issuers to consider their unique, industry-specific etc. idiosyncrasies and to inform shareholders and

120 market players about their derogations from general corporate governance principles and to provide an explanation. Operating on the same principle, issuers can also explain any derogations from the proposals. Sections 1 to 5 of the above report include the description and operation of the Board of Directors, the Supervisory Board, the relevant committees and executive management. Section 6 of the report includes a description of the internal controls and risk management procedures, Section 7 gives information on whether the auditor has carried out any activities not related to auditing, while Section 8 of the report describes the disclosure policies and insider trading guidelines. In Sections 9 to 10 the method of exercising shareholders’ right and the rules on conducting the General Meeting is summarized, while Section 11 contains the Remuneration Policy. The company complies with the vast majority of the 72 recommendations and proposals, however in the business year of 2022 in case of 1 proposal it has not or not completely complied with due to the organizational structure or processes of Magyar Telekom. In 2022, the Magyar Telekom’s disclosure processes were evaluated in the ICS (Internal Control System) by the relevant organizational units and were tested by the internal audit area. The disclosure controls and procedures of Magyar Telekom were effective and designed to ensure a proper basis for the timely and accurate disclosures to the market participants required under the respective accounting, capital markets and company law regulations. 3 SOCIAL COMMITMENTS, LABOR STANDARDS, HUMAN RIGHTS Some of the key challenges of the sustainability strategy come from the area of human resources management. That is why human resources management has a crucial part in the achievement of the company’s sustainability targets. The Group’s vision is to operate in a corporate environment that is livable, likeable and successful. This set of values strengthens the commitment and satisfaction of its employees and is also attractive on the job market. 3.1 People focus The business strategy of Magyar Telekom is centered around the realization of a digital business model that is based on utilizing new technologies in service of consumer relationship management in order to build trust and drive value creation. To achieve this goal, the human resources organization has been transformed to an even more efficient, agile, customer- focused People Unit in support of the corporate business strategy. Key objectives and key results of people services in 2022: It is worth learning at Magyar Telekom On the basis of staff surveys and feedback, Magyar Telekom continued to expand colleagues' self-development opportunities in 2022. With the development of dedicated learning time and one-stop learning opportunities (tools and content) provided by the employer, the range of opportunities for learning and self-development has further increased. Training opportunities are designed and recommended to ensure that the development opportunities included in the competency feedback are provided to each employee. In 2022, the SmartApp online e-learning platform was launched, providing a single, easily accessible place for each employee to create their own learning journey according to their interests. From the TOP5 skills defined per Unit, specific to and definitive of the area, employees were supported to develop the skill of their choice on 4 different platforms. The online training catalogues, online training materials, online coachbank and mentoring, online knowledge sharing (Share), which are also available to the colleagues on long-term leave due to childbirth, continue to be available with renewed content throughout their absence. Talent magnet employer An attractive workplace is an important feature of the Group, not only on the market but also among the internal workforce. It was therefore a pillar of its strategic objectives for 2022. By attracting talent and shortening the duration of the selection process, Magyar Telekom supported the business areas' needs for workforce refreshment and expansion to support the achievement of their objectives. The Group increased the proportion of employee referrals, shortened the selection time, and improved the number of internal candidates in the recruitment process. During the year, its programmes focused on the results of its internal survey indicators that helped to strengthen employee morale, job referrals and customer focus.

121 We build a caring community The Group considers the health and wellbeing of its employees important. The pandemic has changed the way of working in the office and from home. As a result, the Group has continued to draw on conclusions and prepare for a resilient way of work by rolling out a methodology for a hybrid way of work in all roles that allow such flexibility. In these cases, employees can independently design and decide on the proportion and frequency of their office and home-based work. Energized workforce is key to business success. The Group rely on itself and each other to maintain employees’ physical, mental and emotional wellbeing and they cooperate as partners. Thus, the Group invests in communicating regularly and openly about the importance of maintaining a healthy life balance, and a sustainable and healthy way of life. Employees could attend free health screenings of their choice and company offered regular health and wellbeing expert webinars. The Group also continues to offer employee health and life insurance and have introduced an Employee Assistance Program (EAP) offering 3 hours of free counseling per individual life crisis or pressing issue from legal and financial, to family management or health related issues. In 2022, the Magenta Unity Foundation modified its original objectives to support the Group’s employees and their families who have fallen upon financial hardship due to other extraordinary circumstances, including serious physical or mental illness requiring long-term rehabilitation. Up to the end of 2022, it has provided almost HUF 40 million in support to workers who have made a claim. In addition to the above, the following people management perspectives continued to be emphasized in 2022: Employer brand building – the Group creates a livable and likeable workplace, which is satisfactory for its employees and offers an attractive perspective in the labor market through its future oriented methods of work. The Group puts greater emphasis on using social media solutions in building the brand. Recruitment-selection – The Group uses segment-based online recruitment channels and means to select the best candidate for the specific positions. During the selection process, Magyar Telekom seeks the inclusive attitude and personal traits defined as requirements for future Telekom employees. Remuneration – the Group has a transparent, simpler and consistent job grading model, which reflects primarily the respective values of jobs, and provides for market comparison, as a basis for a competitive remuneration policy. Digital solutions: the interface of its employee app (MagentApp) was renewed, the login was simplified and new technology was introduced to pave the way for further improvements and to increase the number of regular users. Quarterly, the Group has worked on employee and manager experience point/process/tool improvements to improve the internal customer experience, which are largely IT system and process improvements. This has included the introduction of a new e-learning system to support self-development, and a revamp of its Reflex employee self-service interface. 3.1.1 Headcount The following table provides information on the number of employees, including full-time equivalents, of Magyar Telekom Plc. and its consolidated subsidiaries: 2021 2022 Magyar Telekom Plc. (full-time equivalent)................................................................. 4,947 4,868 Magyar Telekom Plc. and its consolidated subsidiaries (full-time equivalent) .... 6,786 6,711 2021 2022 MT-Hungary /Telekom Hungary (full-time equivalent) ............................................. 5,898 5,848 North Macedonia (full-time equivalent) ....................................................................... 888 863 Total (full-time equivalent) ................................................................................... 6,786 6,711 The operating segments of the Group are MT-Hungary and North-Macedonia. For further details see Note 33 of the Consolidated financial statements.

122 3.2 Policies 3.2.1 Policies and agreements Code of Conduct Microsoft Word - 426-M1_eng_7_0.doc_új (telekom.hu) The Code of Conduct provides the framework of orientation for all employees of Deutsche Telekom Group and Magyar Telekom Group. Additionally, it applies to people to who are viewed as equivalent to employees in functional terms, e. g. to temporary agency employees. It combines the joint requirement of compliance with legal obligations and acting with integrity and thus ensures that Deutsche Telekom and Magyar Telekom remain transparent and traceable enterprises for everybody. Deutsche Telekom and Magyar Telekom expect their suppliers and consultants to comply with the rules of behavior manifested in this Code of Conduct and to endeavor them to ensure that they are also obliged to abide to its regulation by contract. Code of Human Rights and Social Principles https://www.telekom.hu/static-tr/sw/file/code-of-human-rights-social-principles-eng.pdf The Code of Human Rights and Social Principles as well as the company groups Equal Opportunities Plan in force defines the groups general human rights principles and the provisions for the implementation of these principles. Decision makers of Magyar Telekom Group are aware that employee diversity is the prerequisite of sustainable and equitable operations enhancing business efficiency and contributing to competitive advantage. Group Diversity, Equity and Inclusion Policy CSOPORT POLITIKA A SOKSZÍNŰSÉGRŐL, AZ ESÉLYEGYENLŐSÉGRŐL ÉS A BEFOGADÁSRÓL (telekom.hu) As part of the Deutsche Telekom Group, Magyar Telekom Group has renewed its Diversity, Equity and Inclusion (DE&I) Policy in December 2021. The renewed policy defines its global understanding of what characterizes the approach to diversity, equity and inclusion in its interactions with employees. It aims to ensure a consistent work experience, learning and development for every member of the company group, strengthening the sense of belonging and involvement. The framework of the renewed policy details and clarifies the company’s understanding of DE&I through a set of key elements and covers aspects of the work-life cycle that are relevant to the company culture. It addresses social and business responsibility in providing an equitable and inclusive workplace locally within its global framework but respecting local legislation of diverse cultures and local needs. Group Policy on Employee Relations Telekom_Group_policy_on_employee_relations.pdf The opening up of markets, digitalization and globalization have led to an increasingly knowledge-based working world. New forms of networking are changing communication, public impact, reputation and compliance challenges and other key elements of company management. Thus, the company realized a need to renew its definition of how they understand the shared characteristics of employee relations to ensure consistent working experience for every employee. As part of the Deutsche Telekom Group, Magyar Telekom Group has renewed its Group Policy on Employee Relations in December 2021. It specifies the key elements of its people policy and describes what the company stand for in its relationships with employees, that are characterized by its shared values and derive from a set of values as well as from other group policies. The policy covers all aspects of work life that are relevant to industrial relations and informed by sustainability as a key driver. Suppliers’ Compliance Magyar Telekom Group is committed to respect and protect human rights and it expects its suppliers to comply with these rules of behavior. Prior to becoming authorized suppliers of Magyar Telekom and T-Systems, the company’s suppliers must register their enterprises at its vendors’ registration site. https://beszerzes.telekom.hu/beszerzes/portal_en?appid=beszerzes&page=english/registration_vendor.vm As an obligatory part of the registration process vendors are obliged to understand and accept its Suppliers Code of Conduct that among other policies, entails its Code of Conduct, Social Charter and Diversity Policy. The company’s suppliers must understand and accept these policies and obligatory frameworks for their behaviors as well.

123 Equal Opportunities Plan Telekom_Equal_opportunities_plan.pdf Anti-discrimination and the safeguarding of equal opportunities is a key priority to Magyar Telekom Group. According to the act CXXV of 2003 on Equal Treatment and Promotion of Equal Opportunities, and the corporate protocol in place since 2010 Magyar Telekom Group has accepted its 5 th Equal Opportunities Plan in order to secure the practices of equal treatment, the advancement of equal opportunities and the monitoring an improvement of the labor positions of particular disadvantaged employee groups. The Equal Opportunities plan currently in force is valid between 2021 and 2025 and has been developed in close cooperation with the employee representative bodies. The Diversity Charter of the European Union – Hungary has joined the Diversity Charter of the European Union in 2016 and, among 50 signatory companies Magyar Telekom has also underscored its dedication to safeguard diversity as a fundamental value. Magyar Telekom has been among the signatory companies in in the forthcoming years as well as in 2021. UN Guiding Principles on Business and Human Rights – According to the dedication of Magyar Telekom Group to safeguard and protect human rights along its operations as stated in the UN Guiding Principles of Business and Human Rights, the company considers the rights and guidelines stated in the Universal Declaration of Human Rights and in the ILO’s Declaration on Fundamental Principles and Rights at Work to be mandatory in its own practices. UN Human Rights Treaties ratified by Hungary – Magyar Telekom Group as a corporation legally registered in Hungary is carrying out its entire operations and business practices in full accordance with the nationally ratified UN Human Rights Treaties. http://tbinternet.ohchr.org/_layouts/TreatyBodyExternal/Treaty.aspx?CountryID=77&Lang=EN 3.2.2 Monitoring and auditing practices The group-level coordination of corporate sustainability operations that also incorporate labor standards, social issues and the protection of human rights is being coordinated under the auspices of the Sustainability Committee (SC) from 2021 (previously: Group Sustainability Coordination Council) on the levels of strategy development, governance and operative execution. The SC’s operation is regulated by a group level directive: on the regulation of Magyar Telekom Group’s sustainability operation and the responsibilities and competence of stakeholders. According to the directive, the SC meets regularly, at least quarterly, to coordinate company and group sustainability tasks effectively, with decisions taken by SC members through voting. The SC provides regular reports and presentations to the Chief Executive Officer (CEO) and the Chief People Officer, on the basis of which they set the main direction of the Magyar Telekom Group’s sustainability activities and make decisions in related topics, with the input of the members of the Leadership Squad. The operations of the SC are being detailed in the Corporate Governance section of the annual Sustainability Report. Magyar Telekom Group’s Code of Conduct covers the requirements of corporate compliance and states its collective set of values, and thus stands as an affirmation of the Group’s strong reputation, solid position and future success. The Code of Conduct applies to all board members of Magyar Telekom Group from employees to managing directors, executives and board members. Furthermore, Magyar Telekom Group expects its suppliers and consultants to comply with the rules of behavior manifested in this Code of Conduct and to endeavor them to ensure that they are also obliged to abide to its regulation by contract. Magyar Telekom Group’s Corporate Compliance Program has been elaborated with the aim to ensure that Magyar Telekom Group conducts its business with maximum consciousness and commitment, in accordance with relevant laws and regulations, in harmony with the strictest possible business ethics standards. The Compliance Program involves the Group Compliance Manager and compliance representatives of particular functional areas of operation, who are working together as members of the Group Compliance Committee. The Compliance Program has been designed to ensure that the Group conducts its business to the highest standards of awareness, transparency, accountability, commitment, and adherence to applicable laws and regulations. External audits could be conducted as part of the control process carried out by the Hungarian Labor Inspectorate. The Inspectorate has the right to issue such an auditing process in case of public complaints or issued requests. The Inspectorate also provides counseling to the corporations in support of legal compliance.

124 3.3 Results of Policies 3.3.1 Diversity and Equal Opportunities As one of the largest employers in the Hungarian ICT sector Magyar Telekom believes that diversity contributes to the success of businesses and all kinds of organizations to a large extent. This value is also at the core when it comes to the increase of creativity and innovation, to the involvement of new partners, experts and clients, to the quick adaptation to changes and most of all, to the compliance with the legal obligations of non-discrimination in all corporate operations. Magyar Telekom and the employee representative bodies have accepted the 5th Equal Opportunities Plan of Magyar Telekom Group for the period 2021-2025. The corporate Equal Opportunities Plan addresses actions and procedures to improve the labor conditions and career perspectives of vulnerable employee groups such as women, employees with families, employees on child-care leave, employees living with disabilities, recent graduates and 50+ employees. The corporate diversity and inclusion expert and the employee representatives discuss the conducts and results of the action plan annually. Several employee surveys contribute to the development and the adjustment of the actions each year, allowing the rollout of the equal opportunities plan to adapt to employee needs. The principles of justice and equal treatment of Magyar Telekom are being defined by its Code of Conduct. Ways of non- typical employment such as Telework, flexible working hours, part-time work, employment of people living with disabilities allow the company to realize the principle of equal treatment in practice. These measures are further assisted by several measures implemented in corporate day-to-day operations, such as the large office spaces that are designed to support Teleworking in the new headquarters of Magyar Telekom. In accordance with Hungarian labor legislations the Group provides its employees with extra days off after their children, and after blood donation. In case of more than 40% health damage the company provides its employees with extra five days off annually for rehabilitation. On top of these Magyar Telekom also credits the voluntary work of its employees by providing days off, the proportion of which is strictly regulated in internal directives. One of the key objectives of the new group level corporate sustainability strategy 2021-2030 among climate protection and digital inclusion is the improvement of diversity and inclusion experience on both customer and employee side. It was launched in 2021 and is in effect until the end of 2030. The details of the Sustainability strategy 2021-2030 were presented in detail in the Sustainability report published in first half of 2022. In 2022, Magyar Telekom continued with practices securing equal opportunities for all employee groups. Following the process developed in 2020 the company continued to monitor its gender pay gap along 9 indicators identifying multilayered action plan to tackle the detected inequalities and further reduce the overall gap between male and female general workforce. In 2021, Magyar Telekom has joined the „One step closer” initiative of Amnesty International with its commitment to reduce its gender wage gap by at least one percent annually. Magyar Telekom made the video recordings of its B@ck to Work Café online events, which were launched in the first semester of 2021 for its colleagues in parental leave, available to all of its employees being on parental leave. Magyar Telekom also opened its on-site childcare facility in the summer and fall school holiday season thus supporting parents in the difficult family management periods. On the first day of the vacation, as part of the #Showmewhere you work (#mutiholdolgozol) Day, nearly 500 children visited the headquarters and got to know the company's digital products and what their parents who work here do. In 2022, the distribution of its very own children’s book "My Mummy/Daddy works at Telekom" for parent colleagues raising children between the ages of 3-10 was continued. Magyar Telekom gifted not only the newly joined parent colleagues and the old ones raising a child reached the age of 3 in 2022, but also employees who do not raise children but being grandfathers, grandmothers, uncles or aunts. The storybook offers a playful introduction to the magical world of telecommunication for the preschool and elementary school aged children and offers examples on how to develop family rules for conscious screen time and internet use. Magyar Telekom’s open day won first prize in Enterprise Category at the #mutiholdolgozol (#showmewhereyouwork) competition. In October, together with the Hintalovon Children's Rights Foundation, the company organized the conference 'I am a digital parent', focusing on how to create a safe online environment for employees’ children as a responsible parent.

125 3.3.2 Anti-discrimination and labor-market integration actions As an employer, Magyar Telekom has issued the following actions in 2021 to improve the conditions of the employee groups marked in the 2021–2025 Equal Opportunities plan. As a mentor company Magyar Telekom supports roma workforce integration programs Integrom and HRom to contribute to the equal labor market opportunities. The program participants are being supported with job application counselling, job interview-practices, CV writing and editing skill practices. Its inclusive recruitment practices include dedicated recruiter tracking support for program participants throughout their application process, providing detailed evaluation and feedback, and company mentoring upon request. Starting from the fall of 2021 Magyar Telekom joined the HBLF Romaster initiative supporting two talented roma students for 4 years with scholarship funding and mentoring. In 2022 the LGBTQ & allies employee group of Magyar Telekom, T-Systems Hungary and Deutsche Telekom IT Solutions Hungary have attended the Budapest Pride March again. The Group has continued to work on and improve its LGBTQ inclusive workplace initiatives as well. As a result, the LGBTQ & allies employee resource group (ERG) of the Group has formally and officially formed as the first one of its ERGs. In 2022, its headquarters in Budapest hosted the Women's Day Conference of the Egyenlítő Foundation. The event focused on women leadership. In the various round table discussions, 3 of its female leaders represented Magyar Telekom and shared their thoughts on the topic. In June 2022, the company held a round table discussion ‘Women in Telekom’, aiming to establish the 'Women in Telekom' employee resource group. In order to secure the equal opportunities of current and future colleagues living with disabilities, the Group is using a special module on its online job-application site (https://www.telekom.hu/about_us/career) since 2010, where its applicants are encouraged to state any accessibility requests they might have in order to attend the selection process. Apart from workplace accessibility the company supports the workplace integration and enablement of its entrants and their welcoming teams by education materials with modules for basic attitudes and inclusive behavior with colleagues with visual or hearing impairments, colleagues facing physical or mental difficulties to work independently within the team and also provides workshops on demand. At Magyar Telekom Christmas event in December, the company dedicated a special section to its employee resource groups (LGBTQI, Women at Telekom, People with Disabilities at Telekom) to raise awareness and to promote them. In the Open Minded Companies Award, which rewards the initiatives and results of companies for workplace diversity, openness, and tolerance, Magyar Telekom took first place in the Most Tolerant Company category. 3.3.3 Respect of Human Rights, actions against child labor and all kinds of forced labor As disclosed in the Code of Human Rights and Social Principles the Group rejects child labor and all kinds of forced or compulsory labor and fights against all kinds of human trafficking and modern-day slavery by all means at its disposal. As the parent company of Magyar Telekom Deutsche Telekom Group is responsible for supply chain compliance auditing and management on a global level. More detailed information about the methodology and results of the global supply chain management at https://www.telekom.com/en/corporate-responsibility/assume-responsibility/assume- responsibility/supply-chain-management-355304 New employees of Magyar Telekom Group as part of their orientation process in their first two months receive compulsory education about the company principles, guidelines and practices concerning social issues, labor standards and human rights. All employees must understand and accept these guidelines as the fundaments of their own professional behavior and operations and they are also obliged to complete the Telekom unconscious bias e-Learning course during the onboarding period. In line with the Code of Human Rights and Social Principles, all Magyar Telekom Group employees and all partners closely related to its brand representation attended compulsory trainings regarding human rights. From the end of 2018 the training is part of the compulsory trainings of Magyar Telekom. Moreover, the Group is aware of the fact that there could be situations in which it is harder to tell appropriate from inappropriate. In order to assist employees in making the right choices in these situations, all employees participate in the Group’s gamified and digital mandatory annual compliance training, and the company offers secure internal whistleblower channels, operated by the Corporate Compliance Department. “Kérdezz!” (“Ask me!”) advice portal has been set up to help resolve uncertainties as far as compliance-relevant behavior is concerned. Serious misconduct must

126 be announced for prevention purposes and for appropriate sanctions. For this reason, the “Tell me!” whistleblower portal has been established. The main principles and the detailed description of the internal inspection process is detailed in employee directives available on all employees on the shared intranet platform. Throughout the inspection process the whistleblowers’ anonymity, personal and data privacy are guaranteed and handled with utmost discretion. 3.3.4 Relationship of management and employees At present two unions (Telecommunications Trade Union (TÁVSZAK) and T-Net Trade Union) and workers’ council operate at Magyar Telekom, communication with them runs on two levels. Central decisions concerning the whole Group, when the employee representation bodies need to be consulted, are deliberated with the Central Workers Council and the representatives delegated by the trade unions, either in the frame of joint consultation (Interest Reconciliation Council), or separately, depending on the nature of the matter discussed. Central communication is managed both verbally (negotiation) and in writing. The Chief People Officer and the accredited HR business partner are responsible for central level communication with the employee representation bodies. Interest enforcement issues concerning a given governance area are also discussed locally with the representatives of the trade unions and the local workers’ council. The HR Business Partners of the governance area are responsible for communication with the local employee representation bodies. Trade union and the workers’ council (Central Workers Council) must be consulted and their opinion solicited on significant decisions resulting in organizational changes or changes affecting a large group of employees. In organization restructuring decisions the collective bargaining bodies have 7 days to submit their comments, in other cases 15 days. The measure in question may not be implemented during this 15-day period. Trade unions and workers’ councils (Central Workers Council) must be consulted with regard to draft resolutions, aiming at organizational changes without regard to the number of employees concerned. Under the Act V of 2013 on the Civil Code one third of the Supervisory Board shall consist of employee representatives. The employee representatives in the Supervisory Board are nominated by the Central Workers’ Council considering the opinion of the trade unions operating at the Group. Persons nominated by the Central Workers’ Council shall be elected by the General Meeting to the member of the Supervisory Board, except if disqualifications exist in respect of the nominated persons. On December 31, 2022, there were two members of the Supervisory Board were employee representatives. These members were Gyula Bereznai and Endre Szepesi. 3.3.5 Freedom of organization and collective bargaining Magyar Telekom Group acknowledges the basic rights to freedom of organization and collective agreement in its Social Charter. In line with an openness and trust that relies on a constructive social dialogue, Magyar Telekom Group declares its support to cooperation with the legitimate representatives of the employees in order to establish a balance of interests. The Social Charter together with the long history of mutual respect and cooperation of the management and employee representative councils are the guarantees that these rights are being fully and thoroughly respected. 100% of the employment contracts of Magyar Telekom Group employees operating in Hungary fall under collective bargaining agreements developed with the Hungarian Telecommunications Trade Unions (Távközlési Szakszervezet, TÁVSZAK and Magyar Távközlési Ágazati Szakszervezet, MATÁSZ). The agreement, which can be terminated by either party with three months' notice, applies to all Magyar Telekom Plc. employees except the CEO, regardless of their union membership status. Wage terms in the collective bargaining agreement must be renegotiated annually. If the employment is terminated due to reasons related to the employer’s operation, employees are entitled to a specific amount of severance pay surplus, which depends on the tenure of the employee. In addition to the collective bargaining agreement, employees of Hungarian operations are generally covered by the Act I of 2012 on the Labor Code, which imposes various restrictions on the involuntary termination of employment. The Labor Code protects employee interests through two different labor organizations: the Trade Union and the Workers’ Council. The Trade Union, as the official representative of employee interests in negotiations relating to the terms of employment, has the right to be informed of all corporate measures that may significantly affect the interests of employees and to commence legal action against Magyar Telekom for employment-related conduct that infringes an employment rule. In addition, the Workers’ Council directly represents employee interests in dealings with management and decides jointly with management on matters involving employee welfare funds and institutions. The Workers’ Council must be informed

127 semi-annually on issues affecting the economic performance and changes in wages, employment conditions and working hours. The Workers’ Council must also be consulted on corporate measures affecting employees. Magyar Telekom believes that its relations with its employees are good and has not experienced any labor strikes or disruptions since the Group’s formation. 3.3.6 Workforce Reduction and Redeployment Magyar Telekom – in order to ensure the resources related to the Group’s strategic objectives - has reached an agreement with the trade unions in 2022 on headcount plans and wage increase measures for 2023. According to the terms of the agreement, there was no company-initiated downsizing, nevertheless the company did offer an opportunity for the employees to leave in a voluntary program. Majority of employees that entered the program left the company by the end of 2022. The company provides active job search, labor market training and one-on-one counselling to the colleagues laid off, in the framework of Program Chance, which has proven its success in the past years, and trusts that the above support these highly-trained employees of up-to-date professional expertise in finding employment elsewhere as soon as possible. It is planned to reinvest a significant proportion of the expected employee cost savings in resources related to the Group’s strategic objectives. 3.3.7 Benefit Programs Magyar Telekom’s welfare and social benefits constitute an exceedingly wide-ranging pool. A part of them is granted to every employee, while others are available on certain conditions or are of an insurance nature. In case of certain benefits, employee’s individual contribution is a prerequisite of the employer’s contribution. The way social benefits and discretionary benefits are granted is set out in the Collective Agreement and related regulations. Magyar Telekom provides employees with telecommunication allowances, fringe benefits life and health insurance benefits and health screening packages. 3.4 Risk management 3.4.1 Providing educational and professional background The educational pillar of Magyar Telekom’s Sustainability Strategy aims to improve the digital competencies of the clients and the wider public. It also aims to contribute to the development of industrial succession knowing that a potential throwback in the amount of available highly qualified professionals in the industry could mean a serious risk to maintaining, improvement and development of the quality of its services. In order to secure the highest quality service to the company’s clients, Magyar Telekom needs work with the best professionals. To be able to have them a competitive industrial educational background is necessary. Upon the initiative and by funding of T-Labs (Telekom Innovation Laboratories, Berlin) the faculty Data Science and Engineering began to operate at Eötvös Loránd University from September 2016 as the first pillar of the EU Labs researcher network. The role of Magyar Telekom is in the support of the teaching and research capacities. Magyar Telekom’s colleagues are in close relationship with several higher education institutes and help the universities with consultancy for writing theses, expert education and giving lectures. Within the company’s strategic partnership started in 2021, the company continued the cooperation with the Budapest Technology EC Puskás Tivadar Technical School for Telecommunications and IT, the Miskolc EC Kandó Kálmán Technical School for IT Technology and the Székesfehérvár EC Technical School. The aim of the partnership is to offer professional support in keeping the curriculum up-to-date with the latest technological realities of the industry and help partner institutions in promoting telecommunication related careers. In addition to these Magyar Telekom also offers student work opportunities for students of these education centers and give career orientation lectures, along which the students could gain an in-depth insight in the everyday challenges and opportunities of present day telecommunications. Magyar Telekom signed a partnership with Szent István University, in order to offer the training practice pillar of the electric engineer dual major. 3 students started this dual major in 2022.

128 As the next step of the formation of the “Deutsche Telekom Group remote IT Faculty” at Óbuda University in December, 2021 which is the joint education platform of Deutsche Telekom IT Solutions, T-Systems Hungary and Magyar Telekom, the first course - DevOps in business IT services – was launched in February 2022. The courses are run mainly by DT-ITS specialists, T-Systems Hungary and Magyar Telekom colleagues also contribute. In the fall of 2022, the Group signed a cooperation agreement with the Faculty of Electrical Engineering and Informatics of the Budapest University of Technology and Economics on the participation in the Plant Engineering-Informatics cooperative training, to provide opportunity for students to get familiar with the practical aspects of their future profession, based on the guidelines of experienced professionals. Almost 80% of the first Kickstart-class, 17 trainees have continued to work in junior positions at Magyar Telekom following their trainee year. In 2022 27 senior year university students joined Magyar Telekom Plc. and the first time T-System Hungary Ltd. as the third generation of Kickstart trainees. During the one-year program, the trainees received professional, soft-skill and design thinking trainings. Kickstart trainees who work in a variety of areas throughout the company gather up for a half term agile project assignment strengthening their ability to work in a cross-functional team. The joint project task is based on real business needs, thus strengthening the importance of the program in parallel with the development of Magyar Telekom. Launched in March 2020, MagentaKraft helps young visionaries with trainings and events on their journey to develop their inventions and projects. The KraftRoad program supports young talents with workshops and events in the development, elaboration and improvement of their innovation projects. In 2021 Telekom Kraft was home to 9 innovation projects. In 2022, from the applicants for the GreenLab tender jointly announced with Ashoka Hungary, 5 teams had chance to develop their own environmentally beneficial project, which they also presented to representatives of various companies. But young people not only could come with ideas, they could also develop their skills and become content producers for Magyar Telekom's channels in 2022 by the Kraft Agency, which is Magyar Telekom's own, internal creative team of young people, whose aim is to renew the content production in Hungary and create a new kind of content production model, and to involve talented young people in building and shaping the brand. Throughout the year, the KraftLab in Debrecen was also available to the young people, where they could use various tools, from a video studio to a podcast studio to a programmable robot arm. A total of 2,838 youngster took advantage of this opportunity and boosted their various projects with the help of the site. At Zyntern Jobportal Big Beginner Survey which evaluate the most popular employers among young people (aged 16-28), Magyar Telekom was the #1 choice for youngsters and ranked first as the Most attractive employer. 3.4.2 Employee expectations and equal opportunities The pillars of People Focus in Magyar Telekom are based on the aim to meet the needs of the company’s employees, and to live up to the challenges of maintaining the company status as a highly competitive and future oriented employer. Employees of Magyar Telekom require security, stability, opportunities for advancement and competitive compensations. Magyar Telekom, as a company committed to provide equal opportunities to its employees, finds it especially important to harmonize wages and to terminate unjust wage gaps. Magyar Telekom’s remuneration system is fully transparent thus its base wage tables and the relevant policies are available for all employees. The dimensions of the position system are being developed at the intersections of the Hay-system and the competence-based position levels of its agile organizations. Magyar Telekom pays extraordinary attention not to differ unreasonably the wages of the employees performing the same tasks and that the wage differences between the employees reflect real work differences. As a responsible company, the Group is aware of the social phenomenon of the gender pay gap and are committed to eliminating its root causes within its own business environment. Since July 2020, the Group conducts twice a year regular and complex gender pay gap analysis, during which the Group defines its equal opportunities action plan to reduce the possibilities of inequalities such as the ’motherhood penalty’ and the female career gap. As an employer dedicated to diversity as a core value, Magyar Telekom finds it important to raise the number of women in leadership positions. One of the key objectives of the Diversity pillar of the Sustainability strategy is to reach at least 35% of female leadership by 2025. From May 2020, for the first time in the company’s history, the company has achieved a balanced 33.33% gender ratio in the senior management which the company continued to maintain in 2022. The proportion of female leadership in the overall management was 27.27%. Magyar Telekom considers stress, overload and burnout related risk-reduction as its priority duty in relation to its employees. In order to take charge of these risks by securing an empowering environment to develop and maintain a healthy lifestyle, employees are also provided with coaching and training opportunities and the availability of the

129 Employee Assistance Program all of which help in maintaining a sustainable life balance. Efficient work-life balance of employees with families is further supported by the company’s on-site childcare facility supporting parents in the difficult family management period its child-friendly offices and the available, tax-free nursery and/or kindergarten support that could be selected from its cafeteria benefit scheme, thus contributing to the reduction of expenses. Taking notice of the special conditions of employees (ex. illness or the longer-term domestic care of a relative) a longer period of unpaid leave is also available. 3.5 Performance indicators Non-typical employment at Magyar Telekom Group: ▪ No. of Part-time employees in 2022: 138 ▪ No. of Flexi-time employees in 2022: 1,159 ▪ No. of Teleworking employees in 2022: 4,069 More women in leadership positions at Magyar Telekom Plc.: ▪ Percentage of women in overall workforce: 35.35% ▪ Percentage of women in senior management: 27.68% ▪ Percentage of women in Leadership Squad: 33.33% Volunteer work benefits at Magyar Telekom Group: ▪ No. of volunteer working hours (blood donation): 3,290 ▪ No. of volunteer employees (blood donation): 183 4 COMPENSATION OF MEMBERS OF THE BOARD OF DIRECTORS, SUPERVISORY BOARD, AND MANAGEMENT The aggregate compensation of the members of the Board of Directors in their capacity as Board members was HUF 26 million in 2022. The aggregate compensation of the members of the Supervisory Board in their capacity as Supervisory Board members was HUF 37 million in 2022. The total compensation expenses (including social security and other payroll-related taxes as well as contractual termination expenses) of the members of the Leadership Squad (LS) was HUF 1 430 million in 2022. On December 31, 2022, four members of the LS have an employment contract with indefinite and two members with definite duration. The notice period is two months for two of the indefinite contracts. The severance payment usually is in accordance with the Labor Code and the Collective Agreement, for the contracts the severance payment is usually between 3 and 16 months. In addition to the above, the affected persons are bound by the non-compete clause, under which the employee is barred from entering into employment with any Hungarian or international competitor of Magyar Telekom and is required to refrain from providing direct or indirect services or activities of any kind to such companies for a definite period (not longer than one year) upon termination of his/her employment. Furthermore, such employee is barred from any action aimed to recruit employees of Magyar Telekom for any other company. This limitation entails certain compensation which is proportional with the above obligation. If the employee is in breach of the agreement, he/she will reimburse the net amount of compensation to the employer. In addition, the employee will be liable for a payment of compensation to the employer. LS members from foreign countries may be entitled to housing subsidies. There are two members affected by this entitlement. In line with the Group’s remuneration guidelines, the Group provides contribution-based personal pension scheme, personal insurance scheme and health insurance scheme for the LS members. In addition, the LS members are entitled to the use of company cars. For information about the Share Based Compensation programs, see Note 20.1.2 of the Consolidated Financial Statements.

130 5 RESEARCH AND DEVELOPMENT Hungary In addition to innovative Hungarian SMEs, the research and development tasks are performed by the internal researchers as well as the product and services development staff of Magyar Telekom Group. In addition, Magyar Telekomalso takes advantage of the synergistic effect of the internal and external knowledge base and seeks partnerships with well-known innovation centers and higher education institutions. Magyar Telekom’s main partners are well-known Hungarian universities and research institutes. Paralel with the R&D and 5G Campus collaboration the company founded Dual educational program with Széchenyi István University, and had a succesful common „Hungaroring racing car simulation” project at the framework of 5G Campus in 2022. In 2022 keep going the „Deutsche Telekom Group IT” Off-site Department faculty at Óbuda University. Also proceed with the engineer educational programs with the universities and higher education institutions and expanded with further subjects. Magyar Telekom has developed its partnership with the Universities’ Science parks. Exploiting the potential of new technologies, including research and development of the fifth-generation mobile and Data Management, AI, MI, ML technology, Hybrid Cloud PaaS, SaaS-, and converged services development are crucial for Magyar Telekom Group. Complementing its business and technological data asset exploitation solutions and services with Artificial Intelligence (A)I, Data Science, Machine Learning (ML) capabilities, which the Group has expanded with comprehensive security solutions and services. The Group continues to research and develop the possibilities of fifth generation mobile technology. Magyar Telekom's strategic goal is to develop a digital service portfolio, which creates a strong cross-selling opportunity in addition to classic communication services. With AI/data-based services, the company aimsto occupy a prominent place in this portfolio. In addition, they create a sales potential for Magyar Telekom that is the driving force of modern, digitized corporate transformation, thus strengthening its position with its customers. Modern data management solutions provide customers with many opportunities, through which both internal and customer related services and processes can be modernized, automated, and made more efficient. With this, many challenges of the 202X years can be answered, such as a stronger appearance in the digitalization space, or the lack of human resources. Therefore, beyond those presented in the previous year, in 2022: ▪ T-Systems Hungary Ltd. as founding member of Hungarian Drone Coalition has developed successful products/solutions with the integration of the the Drone and IoT technologies for warehouse management and agriculture and environmental protection sector use. ▪ The product portfolio of the Group includes its AI-based chat/voice (Telekom Digital Business Assistant) services, RPA, automation platform, and modern data warehouse solution based on real-time data processing, even on an as- a-service basis. ▪ Systems set up an artificial intelligence (AI) development team specialized in large language models and digital business assistants to explore the business opportunities in GPT language models and create cloud-based digital business assistant solutions (voicebot, chatbot) based on new technologies. Magyar Telekom is the first in the Hungarian market to have a customizable GPT-T1 language model for business use, which can interpret questions and generate texts in Hungarian and English based on the very large amount of knowledge stored in it. The products and services under development are planned to be available to its corporate customers in 2023, first on a project basis and then on a service basis. ▪ Magyar Telekom is a Cloud Hyperscaler and T-Systems Hungary Ltd. has developed the Localized Hybrid Cloud Services, which provided - similar to its Public Cloud Solutions - the pay-per-use IaaS, PaaS, SaaS within national borders and combined with the services of large hyperscalers, as a sort of hybrid service. This includes the data analytics and machine learning-enabled products and services. ▪ In the framework of the 5G Campus auto industry cooperation, the company carried out successful R&D projects together with its partners, in which it successfully tested its DATA AI and MI solutions and its product prototypes. ▪ Magenta Kraft is Magyar Telekom’s innovative youth platform, which aims at providing new value for the young generations. Magenta Kraft provides an opportunity for those who already have a big or little idea in their mind, but don’t have the necessary tools (infrastructure, environment, team). Further details in Note 3.4.1. As a member of the Magyar Telekom Group, in 2022 the T-Systems Hungary Ltd. was an active participant in the AI Coalition, established by the Ministry of Innovation and Technology, where it acts as the leader of the technology and security working group.

131 The Group also continued its multi-year collaboration with the 5G Coalition as well as, the Industry4.0 National Technology Platform Association, both supported by ITM, too, and the Connected and Automated Mobility Cluster of Zala. North Macedonia Makedonski Telekom (hereinafter: MKT) continues with its determination and its work to be innovation and technology leader on the market. Among the main focuses, as a continuation to the previous years, are the projects in the area of the Smart City as well as big Cloud projects. In 2022 the contract for Smart Water Metering for Municipalities is signed with GIZ, for joint development of system for smart metering for municipalities. There will be three test municipalities in 2023, with idea all of them to join on the platform. The system will provide municipalities with accurate information of water consumption, and easy integration with their existing billing systems. It will enable them also to detect water losses and leaks, for better water supply network and service to their citizens. MKT has also developed in-house SEMM system for Smart Energy Metering and Monitoring. The R&D of the Controller and software to support the system is in filed testing, with successful prototyping, development and laboratory testing. All test was successful and now in live testing in two municipalities. It will enable customers to optimize electricity consumption, and enable them to control the consumption with no or minimal impact of the services that they are providing. Much of the development activities in mobile communication were devoted to RAN and MW modernization for the introduction of the 5G technology. 5G commercially launched in February 2022. At the end of October 2022, 100% of radio network is swapped to Ericsson. Currently 27 cities are covered with 5G. The majority of the population in the urban areas is able to use 5G services. It is available to 60% of people in North Macedonia. The LTE network also continued to grow in 2022. More than 99,9% of the total sites provided LTE services, 70,5% of all BTSs are connected via optic. Data volume via 4G is also increasing month by month. In order to provide more efficient spectrum usage and optimization of complex 4RATs (2G/3G/4G/5G) mobile network, activities for retirement of 3G Technology were boost during 2022. The whole project is planned to be completed in first half of 2023 which will result to implementation of new NT production model based on virtualized, cloudified and disaggregated RAN. 6 REAL ESTATE, SITES OF OPERATION Magyar Telekom has one of the largest real estate holdings in Hungary and it is also a major real estate owner in North Macedonia. Magyar Telekom uses substantially all of these properties for telecommunications installations, offices, warehouses, garages and shops. Its equipment and machinery primarily consist of switches, communication towers and other telecommunications equipment. In order to increase the utilization of real estates and increase efficiency, also adapting to the recent changes in the energy sector, the company is committed to ensuring to reduce the cost of its energy consumption (finding alternative methods in heating and cooling, and to rationalize the usage of offices) furthermore the company makes efforts to sublet or sell its surplus properties. Headquarters of major member companies of the Group: ▪ Magyar Telekom Plc.: Hungary, 1097 Budapest, Könyves Kálmán körút 36. ▪ T-Systems Magyarország Zrt.: Hungary, 1097 Budapest, Könyves Kálmán körút 36. ▪ Makedonski Telekom A.D.: North Macedonia, 1000 Skopje, Kej 13 Noemvri, No. 6. ▪ Combridge S.R.L.: Romania, Municipiul Sfantu-Gheorghe, Strada 1 DECEMBRIE 1918, parter comercial, nr. VI, Bloc 6, Judet Covasna ▪ Novatel EOOD: Bulgaria, District Sofia (capital), Municipality Stolichna, Sofia 1756, Malinova dolina, 2 Donka Ushlinova str., Garitage Park complex, building 3, floor 1, number 312. Hungary Out of the 1,808 buildings on the 1,624 sites of Magyar Telekom, 48% are owned by the company, 4% are jointly owned and the rest 48% are leased. Magyar Telekom is managing more than 7,000 contracts for base stations, mobile sites and technology properties.

132 The total area of buildings used by Magyar Telekom as of December 31, 2022 was 472,749 m 2 . The majority of sites used in its operations are smaller than 100 m 2 . The largest site is the company’s headquarters building (leased) located at Könyves Kálmán krt. 36 in Budapest, with floor space of over 55,000 m 2 , and including underground area with total space of 105,000 m2. North Macedonia At the end of December 2022, MKT radio access network consisted of 902 physical sites on which there are 900 2G base stations, 847 3G base stations,902 4G base stations and 337 5G base stations. 90% of the site infrastructure (towers) is in possession of MKT and 10% is leased. The total area that is used by MKT is around 107,578 m 2 as of December 2022, out of which around 43,079 m 2 are in sole possession of MKT and in great part (53 %) is attributable to 2 major buildings, the headquarters and the main technical building. The remaining 64,499 m 2 are in joint possession with Macedonian Post. 7 SUSTAINABILITY Magyar Telekom has been addressing the sustainability implications of its operations for close to twenty years, and for more than 15 years its sustainability activities are characterized by comprehensive, long-term plans, and Magyar Telekom started its fifth five-year sustainability strategy (2025-2030) in 2021. Magyar Telekom has committed to support the ten principles set forth by the UN Global Compact since 2009 in the areas of human rights, environment and anti-corruption, the results of which are also addressed by its Sustainability Reports. In 2015, the UN adopted its sustainable development blueprint to be implement by 2030. These 17 goals and 169 targets determine the main direction towards resolving the most urgent problems posing a threat to humanity and the planet. Magyar Telekom elaborated its Sustainability Strategy encompassing the period from 2016 through 2020 and from 2021 through 2030 as well along these SDGs. The company’s contribution to the priority goals originated from its business is presented in a separate assessment linked to the Sustainability Report yearly. Magyar Telekom’s sustainability activities and achievements are comprehensively discussed in the annual Sustainability Reports, which aim to make the Group’s environmental, social and economic activities transparent to everyone. The present report includes reference only to certain key topics of the company’s sustainability approach, namely human rights, employees, environment protection and compliance. 7.1 Sustainability strategy In 2021, Magyar Telekom started its fifth ten-year sustainability strategic cycle, 2021-2030. The main goal of Magyar Telekom’s 5th Sustainability Strategy is to remain the country’s leading sustainable company by putting digitalization at the service of the development of people, families and businesses, as well as the protection of the environment. The main guiding principle of the company’s new strategy is to maintain its current leadership role as both a company and an infocommunication service provider. It has therefore set long-term targets for 2030, which it will continuously monitor and update as necessary. Climate protection Magyar Telekom keeps the direct and indirect emissions (scope 1+2) at net zero by an 84% decrease and reduce the part of the emissions of suppliers and customers attributable to the company (scope 3) by 30%. Its customers take climate action and reduce emissions by providing ICT services applicable as climate protection (i.e. smart) solutions. At least half of the company’s revenues come from services that support climate protection by 2030. Emission decrease (2025): ▪ Keep its direct & indirect emissions (scope 1+2) at net zero by an overall 65% decrease in consumption (base year: 2015) ▪ Decrease the emissions of its suppliers and customers attributable to us (scope 3) by at least 20% (base year: 2017) ▪ Review the possibility of introducing a „Shadow CO2 Price”

133 Decreasing others’ emissions (services for climate protection) (2025): ▪ At least 20% of its revenues to come from climate protective services Tasks supporting climate goals (2025): ▪ Establish and report on climate risk management process (in line with TCFD) ▪ Impose internal carbon tax and establish internal carbon market Resource efficiency goals supporting climate goals (2024): ▪ Take back used mobile devices from customers, 10% increase ▪ Take back and sustainably manage used CPEs from customers ▪ Zero technological waste disposal. ▪ 100% sustainable packaging Emission decrease (2030): ▪ Keep its direct & indirect emissions (scope 1+2) at net zero by 84% decrease compared to 2015 ▪ Decrease the emissions of its suppliers and customers attributable to the Group (scope 3) by 30% ▪ Take into consideration the carbon footprint in the process of supplier selection Decreasing others’ emissions (services for climate protection) (2030): ▪ At least 50% of its revenues to come from climate protective services Digitization 100% of customers of Magyar Telekom throughout the country will be provided with gigabit access and 6 million people will achieve responsible digital maturity. Digitalization of Hungary (2025): ▪ 4 million gigabit-ready households (access independent) ▪ 67% 5G coverage Digital responsibility (2025): ▪ More than 4 million people whose digital maturity the Group has promoted Digitalization of Hungary (2030): ▪ Gigabit access available to all its customers ▪ Nationwide 5G coverage Digital responsibility (2030): ▪ 6 million responsible digitally mature people Diversity In the previous period, diversity and equal opportunities have already been in the focal of the Magyar Telekom’s Sustainability Strategy. In the new strategy (2021-2030) Magyar Telekom’s goal is to create a 100% inclusive workplace and to create a 100% accessible UX for customers with disabilities. Inclusive workplace (2025): ▪ 100% accessible workplace ▪ Ratio of female management: minimum 35% Accessible services (2025): ▪ 100% WCAG compliance Inclusive workplace (2030): ▪ Ratio of female management: minimum 40%

134 Accessible services (2030): ▪ 100% accessible services Awards and sustainability recognitions achieved in 2022 and continuously relevant recognitions: ▪ FTSE4Good Index membership, FTSE Russel ESG Ratings ▪ CECE SRI sustainability index membership ▪ MSCI ESG rating AAA (scale: CCC-AAA) ▪ ISS ESG rating: B Prime (scale: D – A+) ▪ CDP rating (Climate change): A- ▪ Best Sustainability Report 2022 – Deloitte Green Frog Award ▪ PwC Award: Most attractive company in telco sector (fifth year in a row) ▪ Most Attractive Workplace in Telco sector 2022 – initiating organization: Randstad ▪ Zyntern Jobportal Big Beginner Survey #1 choice for youngsters: Most attractive employer #1 place ▪ Family-friendly Workplace Gold label - Családbarát Ország Nonprofit Közhasznú Kft. (Family-friendly Country Nonprofit Ltd.) ▪ #Mutiholdolgozol (#showmewhereyouwork) Day” #1 Winner Enterprise Category ▪ Hrpwr - Open Minded Companies Award „Most Tolerant Company” Prize ▪ Hungarian Telekom and T-Systems Headquaters - BIG SEE Architecture Award 2022 (Public and commercial category) ▪ Hungarian PR Association – PR Excellence Hungary Award (PREXA)j – „Your message has arrived” („Üzeneted érkezet”) POKET x Telekom publication – Gold Award ▪ Kreatív Magazin – Content+Marketing Award (CMA) 2022: „Your message has arrived” („Üzeneted érkezet”) POKET x Telekom publication – Bronze Award ▪ Kreatív Magazin – Influ Award: „Your message has arrived” („Üzeneted érkezet”) POKET x Telekom publication – Bronze Award 7.2 Initiatives concerning stakeholders In order to successfully operate the Group, it is essential to have strong relations with stakeholders. Below you will find a list of its key activities the details of which are elaborated in the respective chapters of the Sustainability Report: ▪ Investors – investor (and responsible investor) assessment ▪ Customers – sustainable products and services, child protection ▪ Employees – community solar project, family friendly services, diversity contents ▪ Regulators – conformity, regulatory relations ▪ Local communities –Telekom Community Gardens, Superfast Internet Program (SZIP), network development ▪ Non-profit organizations – sustainability projects with several NGOsSuppliers – sustainable supply chain management ▪ Suppliers - sustainable supply chain management ▪ Media ▪ Future generations –Become! part of generation NOW, Forum “Most”, Magenta Podcast Stakeholders can express their expectations online towards Magyar Telekom. The company then takes them into account in course of pursuing its sustainability activities. Activities related to more stakeholder groups As part of the Group’s 2018 Diversity & Inclusion plan, Magyar Telekom is striving towards an inclusive, open and safe working environment for employees from all backgrounds. In order to promote a working culture of inclusion and non- discrimination, the company has developed the first Hungarian language unconscious bias e-learning material and launched it as a mandatory course for all employees, 92% of whom have successfully completed it by the end of October, 2019. The e-learning is part of the onboarding curriculum and is mandatory for all new entrants. The aim was not only to support the development of its own working culture but to provide accessible and easily adaptable learning material for all Hungarian enterprises and thus contribute to the promotion of anti-discrimination in the society at large. In 2022 Telekom was one of the corporate sponsors that helped the Equaliser Foundation to organise its Women's Day conference on 8 March 2022. During the event, Magyar Telekom presented the POKET x Telekom publication "Your message has arrived", which won several awards in 2022.

135 Recognizing the importance of plastic pollution, Magyar Telekom set a new goal to significantly reducing the amount of single-used plastics generated during its operations. Within the Plastic Free Telekom initiative, first the company removed these plastics from the headquarters operation in 2019. The company provided its colleagues filtered water and jugs to reduce the amount of PET bottles. In 2020, the company introduced further plastic-free steps. Magyar Telekom and its service providers have maintained their commitments during the pandemic and in 2022, and in 2023 they plan to further reduce PET bottles. Investors Magyar Telekom remained to be a constituent in the FTSE4Good Index Series in 2022. The US based MSCI rated Magyar Telekom into the category ‘AAA’ on the scale CCC-AAA. The German ISS at its ESG assessment gave the B Prime rating to the company. Magyar Telekom continued to disclose climate related data and information via the CDP platform (rating: A-). Magyar Telekom remained a constituent in the CECE SRI (formerly CEERIUS) Index on the Wiener Börse as well. Customers Magyar Telekom would like to offer the choice to its customers who consider it as important as the company do to fight against climate change to pick a service that serves the purpose of protecting the climate. That is why Telekom came up with the ExtraNet Green 1 GB option in 2019. In 2022, by choosing the ExtraNet Green 1 GB data extension option, Magyar Telekom guarantees to generate the same amount of energy as the one required to transmit 1GB data using its solar power plants installed on the top of the Kékvirág street facility and on the top of two facilities in Szeged. The children’s protection website of Magyar Telekom is dedicated to threats caused by children’s media consumption. The website provides information to parents not only about ICT technologies, devices and content, but also about threats caused by their usage and consumption, as well as possible preventive measures. More details are available on: http://www.telekom.hu/about_us/society_and_environment/society/protection_of_our_children Magyar Telekom launched an educational program under the title “Being a Digital Parent” in partnership with the Hintalovon Foundation. Raising children in the 21 st century means being a digital parent. Protecting children properly is a challenge in real life, and there is much to learn about it online as well. The aim of the Being a digital parent campaign is to achieve an informed, confident digital presence, searching for answers to questions such as: whose responsibility is to ensure children’s digital safety; what parents can do; what settings does the company need to make on its child’s device to stay safe online; what should company thinks about before posting on social media? The professional content on the topic and a step-by-step guide to setting up children’s devices is available on the www.tudatosdigitalis.hu (only in Hungarian) website. Employees In March 2022 Magyar Telekom announced again its community solar project. During the program employees had the opportunity to adopt a solar panel. 200 solar panels had been adopted in less than an hour. In 2021 Magyar Telekom continued its work on the improvement of diversity and equity based on the results of the 2020 employee survey. It offered 6 B@ck to work Café online sessions in the first half of the year, providing guidance to for parental leavers who are planning their return and promoting the development, career planning and contact keeping tools that are available. Magyar Telekom and T-Systems established its first LGBTQ resource group which initiated actions and process development initiatives to further the inclusion of LGBTQ workforce. Since November, 2021 the company joined the corporate donors of HBLF Romaster initiative and committed to support support of two roma students for 4 years. For the first time in the history of the company, gender ratio in Magyar Telekom's top management became balanced in 2020 and a number of measures were taken to further improve the proportion of female executives in the entire management team. The company continued with the monitoring of its gender pay gap, along which further developments are being initiated. Magyar Telekom Group joined the “One step closer” initiative of Amnesty International in 2021 with its commitment to close the gap with at least one percent each year.

136 Local communities Magyar Telekom and the Hungarian Contemporary Architecture Centre continued to run community gardens in 2022, too. Gardening works are still ongoing at Csárdás Garden and in Pomáz. In response to the armed conflict in Ukraine, Magyar Telekom has helped both refugees arriving in Hungary and family members who have stayed in Ukraine. As part of this, it has fully credited international calls and SMS to mobile and fixed lines in Ukraine, as well as mobile roaming charges on partner networks in Ukraine. Under the Telekom Mobildonor program Magyar Telekom offered 5,000 mobile devices and prepaid cards to Ukrainian refugees, and supported the humanitarian activities of the Hungarian Interchurch Aid by donating money and offering volunteer work. Non-profit organizations WWF Hungary has implemented a natural water conservation project in five small villages in partnership with local residents to reduce water scarcity due to climate change. Magyar Telekom is supporting the program by setting up a monitoring system to ensure that the data collected can be used to successfully implement the environmentally friendly solution in as many places as possible. Suppliers In the framework of the sustainable supply chain management process Magyar Telekom assesses the sustainability performance of its suppliers each year. This will be done independently by Magyar Telekom, in addition to the suppliers that are shared with Deutsche Telekom but are not assessed in the Ecovadis system. In 2022 through completing a web audit questionnaire – that contains questions on general, environmental, social and business ethical topics – 14 suppliers were assessed and so 50.79% of the total purchase value has been covered by valid web audit assessments. Future generations On the LEGYÉLTEIS! website, the Group has shared Internet safety content that is easy to understand and follow for children and parents. Digital education for the older generation continued with the Become a GenNow granny! program. The personal lectures and the online educational content created by students are still available for the elderly. A close working relationship was established with the National Association of Pensioners. They distributed 253 smart devices donated by the Mobildonor program, for the seniors involved in the Become a GenNow granny! program. With the help of its regional partners, the Group organized sessions in major cities at regular times and fixed locations to reach as many people as possible. The company also appealed to the younger age group with the launch of the Magenta Podcast channel in March 2020, which covers media consumption, diversity, online education, mental health, technological innovation, cultural and economic topics, but expert guests will also speak on topics such as the home office, digital family or just the COVID-19 pandemic. In 2022, the Podcast was continued to provide regular entertainment and professional content on topics such as cryptocurrencies, digital accessibility and the digitalization of SMEs. A key aspect in the production of the Podcast is to ensure that the guests and experts invited are well-known figures among the younger generations, thus supporting the success of reaching out to this age group. Charters and initiatives of cooperation accepted and signed by Magyar Telekom Group Besides professional challenges, the Group also seeks cooperation opportunities for the solution of social and environmental problems. Magyar Telekom has been an active member of ETNO’s (European Telecommunications Network Operators Association) Sustainability Workgroup for years. The members work closely towards solving all kinds of sustainability-related programs. The Group is in constant consultation with the national advocacy organizations of people with disabilities (AOSZ, ÉOFÉSZ, MEOSZ, MVGYOSZ) in order to review and adapt its barrier-free customer services and services to the changing needs. The Group provided professional knowledge to the work of the Presidential Committee of the Hungarian Academy of Sciences. Its colleagues maintain contacts with a number of higher education institutions: they assist in university work by with consultancy for writing theses, expert education and giving lectures. Magyar Telekom was the first among the Hungarian companies to accept OECD Guidelines for Multinational Enterprises and set them up as mandatory guidelines for its operations.

137 The European Union’s Diversity Charter has been signed by the company and considered as a mandatory guideline. Magyar Telekom has signed the UN Global Compact for 10 guidelines, and also fulfils its commitment to submit annual progress reports. Magyar Telekom has acknowledged the UN Sustainable Development Goals (SDG) and through incorporating those of key importance in its Sustainability strategy 2021-2030 the company includes the contribution to these goals as a mandatory element of its operations. Magyar Telekom discloses data and information on its climate-related activities through the CDP (Carbon Disclosure Project) platform. Magyar Telekom was the first Hungarian company to join the Science Based Target Initiative (SBTi) and has emission reduction targets approved by SBTi. Magyar Telekom has joined the UNFCCC Climate Neutral Now initiative. In 2020 Magyar Telekom joined the Equalizer Foundation, where it is also represented on the Board of Trustees. The foundation aims to initiate and support changes that will result in more women leaders in Hungarian economic, cultural, scientific and political life. List of the main memberships: ▪ Hungarian 5G Coalition ▪ European Telecommunications Network Operators Associations (ETNO) ▪ GSMA Association ▪ Joint Venture Association (JVSZ) ▪ German-Hungarian Chamber of Industry and Commerce ▪ Communications Reconciliation Council ▪ ICT Association of Hungary ▪ Scientific Association on Telecommunications and Informatics ▪ Hungarian Association of International Companies ▪ Hungarian Competition Law Association ▪ Hungarian AI Coalition ▪ Employer’s Equal Opportunities Forum ▪ Hungarian Logistics, Procurement and Inventory Management Association ▪ Association of Hungarian Content Providers ▪ Hungarian Marketing Association ▪ Hungarian Advertising Association ▪ American Chamber of Commerce in Hungary ▪ Hungarian Drone Coalition ▪ Hungarian Hospital Association ▪ Hungarian Water Utility Association ▪ Hungarian Project Management Association ▪ Scientific Association for Infocommunications ▪ Hungarian Chamber of Engineers ▪ Association of Health Technology Suppliers and Medical Device Manufactures ▪ it Service Management Forum (itSMF) ▪ Chamber of Bodyguards, Property Protection and Private Detectives ▪ Hungarian Innovation Association ▪ Connected and Automated Mobility Cluster of Zala ▪ Ipar 4.0 ▪ Electronic Payment Service Providers Association (EFISZ) ▪ International Telecommunication Union (ITU) ▪ RIPE Network Coordination Centre ▪ GS1 Macedonia ▪ Economic Chamber of Macedonia ▪ American Chamber of Commerce in Macedonia ▪ Macedon-German Business Association ▪ Macedonian IT Chamber (MASIT) ▪ Chamber of authorized architects and engineers of Macedonia ▪ Economic Chamber of North-West Macedonia

138 Quality guarantees in the Magyar Telekom Group can be found: https://www.telekom.hu/about_us/about_magyar_telekom/principles/quality_guarantees 7.3 Annual Sustainability Report Magyar Telekom Group has committed, among other things, to publish reports about its sustainability performance annually. When the reports are compiled the GRI (Global Reporting Initiative) guidelines and standards are applied, thus ensuring compliance with the principle that the reports have to be the cornerstones ensuring transparency and international comparability. The Sustainability report about 2007 was the first report in Hungary which was prepared according to the GRI G3 A+ compliance level, this meant the highest level of application of the GRI G3 guidelines at the time. Since then, Magyar Telekom has produced an annual report with the highest compliance with international guidelines, the 2013 Sustainability Report was the seventh to meet the requirements of the GRI A+ application level. The 2014 and 2015 Sustainability Report was compiled along the Fourth-Generation Principles set forth by the Global Reporting Initiative (GRI G4), while since 2016 Sustainability reports have been compiled along the newest requirement, the GRI Standard on “Comprehensive” level. The independent assurance and certification of compliance with the GRI Standard criteria was conducted by PricewaterhouseCoopers along the ISAE 3000 international standard. Further details on the sustainability performance of the Group can be found in the annual reports available on: https://www.telekom.hu/about_us/society_and_environment/sustainability_reports The 2022 Sustainability Report is going to be published in the first half of 2023. 8 ENVIRONMENT PROTECTION 8.1 Policies Magyar Telekom Group upholds its commitment to sustainable development and environment protection first in the environmental policy. The policy contains obligations for the members of Magyar Telekom Group both individually and as a Group: https://www.telekom.hu/static-tr/sw/file/Magyar_Telekom_environmental_policy.pdf In addition to the policy, it has also issued an environmental directive, which sets out in more detail the company's areas of commitment and expectations: https://www.telekom.hu/static-tr/sw/file/magyar-telekom-environment-protection-policy-guidelines.pdf The Group-level coordination was continued to be implemented under the auspices of the Sustainability Committee (SC) in 2021, as well. The levels of development and management of the corporate sustainability strategy are separated from the operative implementation level within the operation of the SC, thus the process of implementing sustainability activities is divided to the following levels: 1. Strategy development and strategy management level operating under the auspices of the SC: development of strategic concepts, implementation of the strategy, relevant communication with national and international organizations. 2. Operative implementation level managed by relevant organizations of the governance areas and business units, actual operative activities, task management, data provision etc. The SC’s operation is regulated by a group level directive: on the regulation of Magyar Telekom Group’s sustainability operation and the responsibilities and competence of stakeholders. The operative management of Magyar Telekom Group, the Management receives at least once a year a report on the implementation of the tasks of the Group Sustainability Strategy and other ongoing significant sustainability activities, results, potential exposures and opportunities. The Management is informed on the latest sustainability trends and may respond to the feedback from stakeholders through the annual report and based on the report may decide on the amendment of the strategy. The Management keeps contact with the stakeholders through the SC. Incoming inquiries are received by the respective professional areas

139 and critical comments regarding sustainability are transferred to the responsible staff members by the SC members. According to the relevant group directive the strategic tasks are allocated to the respective Chief Officers. In 2021, Magyar Telekom's Leadership Squad decided that, in line with its agile operations, the Group would manage sustainability coordination in the form of a squad in the future. Therefore, the role of the Sustainability Committee has been taken over by the Sustainability Squad since 2022. 8.2 Results of the policies As a leading provider of info-communications services in the region, Magyar Telekom’s commitment to sustainable development with a focus on preserving the environment lies at the center of its mission. 2021 was spent developing a long-term strategy, the Group outlined a 5 + 5 year vision instead of the previous 5-year perspectives. Climate protection remains a key priority in the new sustainability strategy. The Group’s emission reduction commitments pledged in 2018, which was approved by the Science Based Target Initiative (SBTi), were replaced by more ambitious targets in 2019 in response to the IPCC’s 1.5 °C report, have come into the main focus of the strategy. The Group is working to achieve the following goals by 2030: ▪ reduce absolute Scope 1 and 2 Greenhouse Gas (GHG) emissions 84% from a 2015 base year; reduce absolute Scope 3 GHG emissions 30% from a 2017 base year. One of the key elements in the new strategy is the fact, that these targets also apply to T-Systems Hungary Ltd. The European Green Deal also prioritizes energy use and emissions of the ICT sector, recognizing that the sector can make a significant contribution to achieving 2050 climate neutrality through 5G, artificial intelligence, IoT and cloud services, but it can also increase its own energy consumption. As a first step, the European Union aims to increase energy efficiency in data centers and achieve climate neutrality by 2030. This is also one of the main pillars of Magyar Telekom’s new climate strategy, despite the fact that the Group’s total electricity consumption, including data centers, has been covered by renewable energy for many years (since 2016 at Group, since 2018 in Hungary), which has been set by Deutsche Telekom as a requirement for its member companies on a group-wide basis from 2021 onwards. In 2022 Magyar Telekom continued its carbon neutral 1 project. To achieve the carbon neutrality in 2022 - for the eighth year in a row - Magyar Telekom Group used 100% renewable energy for electricity consumption and offset the rest of its emissions, by purchasing and retiring 18,220 CER (Certified Emission Reduction) units from a Chinese renewable energy project in case of its largest companies. In 2022 Magyar Telekom purchased 188,362 MWh of renewable energy with Guarantee of Origin or with direct renewable energy purchase. The additional highlighted environmental and operational ecoefficiency goals are: ▪ Increase the energy efficiency of buildings ▪ Decrease fleet consumption, promotion travel replacement solutions, and dematerialization solutions ▪ Introduction of sustainable and climate-friendly products and services ▪ Mapping and quantifying enablement effects in other sectors as a result of the services offered by the company ▪ Waste management: reduction of waste (increased recycling-rate) ▪ Measure the climate footprint of customers and suppliers ▪ Development of a circular economy for appliances provided to customers 8.3 Risks Based on the Business Continuity Management System (BCM) the Group has identified the critical climate risks (floods, heat waves) that might affect its operations and it has prepared action plans for possible risk management. According to the annual assessment the rate of climate damage in the network did not reach the level of intervention (HUF 50 million damage/ month). In 2022, 546 cases had to be investigated due to different problems caused by the weather. During heatwaves, the company allows its colleagues to work remotely and increases the core temperature of datacenters and base stations in order to reduce the energy consumption. Physical risk of climate change in the Hungarian infrastructure was analyzed - in case of extreme temperature using different climate scenarios (RCP4.5 and RCP8.5). The riskiest extreme weather event could be flash flood, and 19-24 1 carbon neutral means net zero GHG emissions

140 percent (depending on the scenario) of the infrastructure could be negatively affected by extreme hot weather in the next decades. This analysis will help us to be more resilient when modernizing the infrastructure In setting the emission reduction targets, Magyar Telekom has considered the current Paris Climate Agreement and EU standards, as well as the IPCC’s 1.5 °C goals, but it is assumed that regulators will set stronger emission reduction targets in the future, which may involve financial risks. Current forecasts predict an increase in the energy consumption of mobile networks with the spread of 5G. However, one of the EU's goals is to significantly reduce energy consumption and plans to regulate data centers as a first step. Thanks to Magyar Telekom's forward-looking climate strategy, it enjoys an advantage over its competitors, even with stricter regulations. Opportunities In addition to its energy efficiency investments and carbon neutral operations, the Group considers the use of renewable energies to be one of the most effective tools for combating climate change. Its long-term goal is to ensure the supply of electricity to the network as much as possible from renewable energy sources, therefore it has implemented the installation of solar systems in its own buildings in several stages. Magyar Telekom also provides an opportunity for its customers, who also consider combating climate change, to be able to choose a service that contributes to climate protection. That’s why in 2019 Magyar Telekom created the world’s unique ExtraNet Green 1GB 30-day option. Although the measures taken during the pandemic in 2020 reduced turnover after its success in 2019, the company still retains the option for its customers. In 2022, higher proportion of customers chose this expansion option out of the 1GB options than in previous years. 8.4 Performance indicators at group level Emissions below were calculated according to the GHG Protocol Corporate Standard. Cumulated GHG emission ▪ 83,060 tCO2e (tons of greenhouse gas emissions in carbon dioxide equivalent), when purchased renewable was not taken into account (location based emission) ▪ 18,220 tCO2e, when purchased renewable was taken into account (market based emission) Group GHG emission by categories ▪ Scope 1: 12,767 tCO2e (at the moment location based equal to market based) ▪ Scope 2: 69,417 tCO2e location based ▪ Scope 2: 4,355 tCO2e market based Energy efficiency – bits transmitted / energy consumption – 301 Gbit/kWh 9 CORPORATE COMPLIANCE When shaping the compliance program of Magyar Telekom Group, the goal was to ensure that Magyar Telekom Group pursues its business activity with maximum awareness of and commitment to compliance with the applicable laws and legal provisions, in accordance with the strictest norms of ethical business conduct. To this end, the company issued policy statements addressing the potentially arising compliance-related risks, and it applies the procedures set out in these policy statements and arrange continuous training courses for the company’s employees related to these procedures. The Group established clear concise processes to report, examine, follow up and correct suspected cases of non-compliance. The Corporate compliance program is supervised by the Group compliance officer. The Group compliance officer reports directly to the Audit Committee, and cooperates with the Board of Directors, the Supervisory Board and the management. The Corporate compliance program focuses on the Code of Conduct. The Code of Conduct of Magyar Telekom Group contains the summary of the compliance requirement within the company, sets common values of the Group and is a key to the strong position, reputation and successful future of Magyar Telekom. The Code of Conduct applies to everyone within the Magyar Telekom Group from the employees to the members of the Board. In addition, contracted partners of the Magyar Telekom Group also have to know and accept these values, when registering on the procurement website.

141 In the year 2010, an external independent party audited the implementation of the Compliance program, and the company was awarded a certificate of compliance with the external expectations and of the implementation of the system. The program was revised in 2013, including other related areas as well – such as procurement, internal audit, HR, sales. The audit was not aimed only at the implementation and control of the system in the different areas, but it measured the operational efficiency of the control system. Magyar Telekom met the expectations and were awarded by a certificate issued by Ernst&Young as independent external party. In 2017, again an external auditor (KPMG) evaluated the effectiveness of the compliance management system of Magyar Telekom, and issued a certification that the program complies with the requirements of the new anti-corruption ISO standard. In 2021 an external advisor (KPMG Germany) reviewed the Compliance program. They found the operation of the program efficient. The first distance learning course addressing compliance was started in 2008 in the topic of “Conscious recognition of fraud and corruption”. Since then the Group has been providing a general eLearning course for its new employees, mandatory for all colleagues joining to the company. The course is completed with the acceptance of the Code of Conduct. Since the start of the program, 101,359 distance learning courses were completed by the employees on group level, related to topics, such as compliance awareness, supplier due diligence, anti-corruption measures, incompatibility or insider trading. On the top of that, the company has arranged personal training sessions for employees working in professional areas exposed to compliance and abuse related risks – both within the parent company and Hungarian and international subsidiaries – in the topics of organized anti-corruption behavior, screening of contracted partners and rules of giving and accepting gifts. In 2022 – similarly to the practice of the previous years – risk analyses were conducted with the participation of organizations and subsidiaries of Magyar Telekom Plc. Based on the results of the survey, a comprehensive audit was prepared for the potential compliance and abuse risks, the result of which was submitted to the Audit Committee of the Company. During the year the Group checks the soundness of the reports submitted to its company in connection with unethical behavior, and if necessary, the Group acts on these reports. In case the company identifies actual abuses, it takes care of the necessary and adequate countermeasures. Magyar Telekom published all cases of corruption and the related countermeasures in accordance with the related applicable laws and legal provisions. 9.1 Fight against bribery and corruption 9.1.1 Policies Magyar Telekom does not tolerate any attempts of corruption, so numerous procedures and policies were introduced to prevent and fight corruption. Magyar Telekom complies with the anti-corruption rules of the Group, and expects its business partners not to engage in unlawful activities (including breaching the anti-corruption laws) such as utilize any money or other services provided by Magyar Telekom for unlawful purposes. This also includes direct or indirect payments to individual(s) to improve the perception of Magyar Telekom (or any parties acting for Magyar Telekom) or to influence any business decision. Magyar Telekom strictly prohibits any form of corruption including (but not only), receiving personal advantages or monetary gains, accepting or providing bribes or promising facilitating payments. The Group also prohibits employees from making beneficial decisions towards family, friends or close or distant acquaintances. It is not allowed to provide any gift or invitation to an event to third parties if it could potentially influence any business transaction. Magyar Telekom Group does not support morally or financially any political parties, organizations or representatives of these. Magyar Telekom will not start business relations with third parties that violate the anti-corruption clauses of the Compliance Program or the basic principles of the Code of Conduct. Due Diligence procedures: There are no fixed procedures on how thorough due diligence should be to avoid legal responsibility or any investigation as per the anti-corruption laws. The aim of these procedures is to identify high-risk areas, and to provide indication when further due diligence or review is required. 9.1.2 Result of the policies During the year, the Group has verified the plausibility of any complaints it has received about unethical behavior and initiated internal investigations if necessary. If the company has identified any misconduct it initiated the necessary measures and actions. Any complaints regarding breaches of internal or external rules can be sent to the Tell Me! portal of Magyar Telekom. Any questions regarding corporate compliance can be asked on the Ask Me! intranet portal.

142 9.1.3 Risk The basis and prerequisite of the efficient defense against breaches of laws and policies is the registering and analysis of compliance risks and identifying other compliance relevant cases at Magyar Telekom. The yearly Compliance Risk Assessment (CRA) handles active and passive corruption separately. The risk assessment always includes Magyar Telekom, T-Systems and Makedonski Telekom. Other subsidiaries can be included on a case-by-case basis, based on information originating from internal investigations. The CRA fully covers the abovementioned companies. The Group Compliance Officer informs the Audit Committee, the Board of Directors, and the management about the result of the risk assessment and gives an update about the status of the measures in every quarter. 10 ECONOMIC ENVIRONMENTS, OUTLOOK AND TARGETS Economic environment in 2022 has been strongly shaped by the Russian-Ukrainian war. The already present global supply chain disturbances and the sharp increase in energy prices has been aggravated with surging prices spreading to other product categories as well leading to strong rise in the inflation rates worldwide. To tackle inflationary pressure central banks increased their base rates whilst economic activity started to slow down and, in some countries, reached the level of recession in the second half of 2022. The telecommunication industry has continued to play a critical role as the need for digitalization and demand for data remained strong. To be able to serve the sharp rise in data consumption, telecommunication providers continued to invest heavily into their networks, both fixed and mobile throughout the world. 10.1 Economic environments and outlooks Hungary In the first half of 2022, Hungarian GDP was growing with a rate of over 7%, primarily driven by strong household consumption coupled with expansionary fiscal measures. However, in the third quarter, parallel with the slowdown of the global economy and tighter fiscal policy in Hungary, growth rates were more moderate, which tendency is expected to continue into the next quarters. At the same time, an acceleration of inflation was also witnessed, driven by sharp rise in energy and food prices while also fueled by the evolving wage-price spiral. To tackle the sharp rise in the inflation rate, the central bank raised the policy rate significantly during the year, tightening landing conditions and as such, posing further risks to economic growth. Looking ahead, the economy is expected to slow further, and inflation is also forecasted to remain elevated, posing further risks to economic performance. With regards to the Hungarian telecommunication sector, strong domestic demand, have resulted in favorable development in the operating environment, however, inflationary pressure, coupled with the introduction of the supplementary telecommunication tax put burden on the profitability of the sector’s companies. Looking ahead, there are significant uncertainties related to the economic and business developments, as well related to the changes in the competitive environment driven also by the change in ownership of Vodafone Hungary. To ensure the reliability and security of the Group’s networks and its leading position on the market, the management remains committed to invest in its infrastructure and continue with the customer centric operational approach going forward. North Macedonia In North Macedonia, after recording 4% growth in 2021, economic development slowed down in 2022. In the first half of the year, solid household demand and sustained investment level partly offset the unfavorable impacts of rising energy cost, but with high inflation, tighter financial conditions, and ongoing global supply-chain disruptions both consumer spending and business investments started to deteriorate in the second half of the year. With regards to the telecommunication sector performance, improvements in household spending and further easing of travelling restrictions both had positive impacts on telecommunication revenues, however the sharp rise in energy costs weighed on the sector’s profitability Looking ahead, the unfavorable economic developments are expected to continue to result in further slowdown in economic activity in 2023 as well.

143 10.2 Revenue, EBITDA AL and free-cash flow targets In 2022, Magyar Telekom could keep its positive commercial momentum. Thanks to its outstanding network quality, excellent service and tailor-made solutions, customer satisfaction remained strong, enabling us to successfully monetize strong market demand for its telecommunication services. Consequently, despite the introduction of the supplementary telecommunication tax and other external headwinds, the company was able to deliver its 2022 annual revenue and EBITDA AL targets. In parallel, demand for its fiber products remained strong, thus the company has kept the pace of its fiber optic rollout program, resulting in higher annual Capex and somewhat lower free cash flow than originally targeted. Looking ahead, Magyar Telekom expects to sustain this positive commercial momentum in 2023, which, coupled with the positive contribution of the inflation based fee adjustment effective from March 2023, is expected to lead to revenue growth of 5% to 10%. EBITDA AL is anticipated to grow by 5% to 10% as well, as some of the revenue advancements are expected to be offset by increased cost levels, especially electricity expenses. The increase in interest costs is to weigh on profitability going forward, consequently adjusted net income is expected to grow moderately year-on-year, whilst free cash flow, excluding spectrum license payments, is forecasted to increase to around HUF 60 billion in 2023, thanks to positive trends in EBITDA AL. 11 INTERNAL CONTROLS, RISKS AND UNCERTAINTIES 11.1 The presentation of the systems of internal controls and the evaluation of the activity in the relevant period Magyar Telekom’s management is committed to establishing and maintaining an adequate internal control system to ensure the reliability of the financial reports and minimize operating and compliance risks. Magyar Telekom’s internal control system is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in conformity with International Financial Reporting Standards (IFRS) as adopted by the European Union. For the business year 2022 control documentation and evaluation were accomplished in the IT supported ICS-Tool i system. Transaction Level Controls describe the controls built into the business processes of Magyar Telekom that have been designed and operated to ensure that material misstatements in each significant financial account and disclosure within the financial statements are prevented or detected in a timely manner. Complete evaluation of the internal control system of Magyar Telekom based on the method established in “Internal Control—Integrated Framework” issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The operation of the internal control system is supported also by the independent internal audit function. Beyond tasks regarding the risk based internal audit work plan, contributes to the enhancement of the internal control processes and to the reduction of existing risks through ad-hoc audits and ICS testing. The Internal Audit area follows up the implementation of the measures defined on the basis of the audits. The Supervisory Board and the Audit Committee inter alia also receive regular reports on the findings of the audits; measures, based on the findings and fulfilment of tasks. In line with the criteria of the adopted internal control framework, management evaluates the effectiveness of internal control system within each financial year. Management’s assessment for 2022 is finished and based on the collected information internal control system has been operating effectively to prevent potential material misstatements in the financial statements and minimize operating and compliance risks. The Company’s shareholders are being informed about the operation of its internal control system through its public reports. The management and Board of Directors of Magyar Telekom are committed to conducting all business activities of Magyar Telekom Group according to the highest legal and ethical standards. Based on this commitment, the Board of Directors established the Corporate compliance program of Magyar Telekom. The Corporate compliance program is applicable to all bodies, organizations, employees of Magyar Telekom Group, and advisors, agents, representatives as well as to all persons and organizations that work on behalf of the Company or its subsidiary. The Corporate compliance program of Magyar Telekom ensures that the business activities of the Group are conducted observing and in compliance with the relevant laws to the utmost extent, according to the highest standards of training i Internal Control System

144 and commitment. It requires the realization of guidelines and processes that manage potential compliance risks and implement specific processes in order to report, investigate, monitor and correct suspected or actual lack of compliance. 11.2 The utilization of financial instruments, risk management and hedging policies Introduction As Hungary's leading telecommunications and IT service provider Magyar Telekom is subject to uncertainties and changes of the telecommunications and IT industry. To operate successfully in this continuously changing environment risks have to be systematically identified, assessed and managed. The risk management system is not only needed from a business point of view, but as a company listed in the stock market, Magyar Telekom is obliged to operate a risk management system and prepare a risk report to inform its investors. Upon the establishment of the comprehensive risk management system the Company acts in line with the relevant requirements of the Budapest Stock Exchange, as well as the rules laid down in the applicable international standards. Magyar Telekom’s group level risk management system covers strategic, operational, financial, compliance and legal risks, which is also applicable to the consolidated subsidiaries. The objective is to identify, monitor and manage these risks in an early phase. Risk management guidelines It is the policy of the Magyar Telekom that all disclosures to its shareholders and the investment community be accurate and complete, and fairly present the financial condition and results of the Company in all material respects. Such disclosures should be made on a timely basis as required by applicable laws, rules and regulations. To achieve these objectives, Magyar Telekom continuously develops and regularly reviews the functionality and effectiveness of the elements of its risk management system. The risk management includes the identification, assessment and evaluation of risks, the development of necessary action plans, as well as the monitoring of performance and results. The risk management organization and process: Magyar Telekom performs its risk management activities in accordance with the risk management guidelines developed by the Group level risk management organization and approved by the Boards of Directors. The risk owners of the individual organizations are responsible for identifying, reporting, assessing and monitoring risks on a continuous basis, in line with the framework of the risk management process, under the governance of the central risk management organization. Magyar Telekom's Group level risk report is regularly submitted to the Board of Directors, the Audit Committee and the Supervisory Board as well as to Deutsche Telekom's risk management organization. During the annual planning process the management takes into account potential risks. The established risk management standard provides a process framework: ▪ following the identification of risks, they are analyzed, assessed and quantified in details, then they are quantified (by estimating their probability of occurrence and potential impact) according to a predefined methodology. The assessment of risk assessment enables the management to focus more effectively on those risks that have a significant impact on the company's strategic objectives. ▪ following the assessment, the decision is made on the specific measures to reduce risks, ▪ the relevant risk owner implements, monitors and evaluates the relevant measures, and ▪ these steps are repeated as necessary to reflect actual developments and decisions. For the risk management to be effective, Magyar Telekom must ensure that the management takes business decisions with full understanding of all relevant risks that the organization of thecompany supports through Magyar Telekom’s regular Group level risk report. However, Magyar Telekom also continuously assesses and manages the risks related to its business plans and take them into account in its risk management process.

145 Identification, review and reporting of risks: Risk items affecting the operations are reviewed regularly throughout the Group. All of the subsidiaries and entities are obliged to identify and report their operational risks on a quarterly basis. After the evaluation of these risks, results are reported to the management, to the Board of Directors, to the Audit Committee and the Supervisory Board of Magyar Telekom. This regular reporting ensures that the most significant risks are monitored, up-to-date risk mitigation measures are implemented and regularly monitored. Magyar Telekom’s risk reporting system is complemented with a continuous reporting procedure which requires all of its departments and subsidiaries to report on a real-time basis any new fact, information or risk fulfilling the reporting obligations that comes to their knowledge. Information thus submitted is monitored and evaluated by the risk management area and the Chief Financial Officer is notified when a new material risk or information is identified. An internal regulation has been issued to define responsibilities of each employee in risk monitoring and management. The risk assessment is carried out for a two-year period. If there are significant risks beyond the risk assessment period, such risks are monitored byon a continuous basis. Opportunities Besides the systematic management of risks the identification of opportunities and their strategic and financial assessment are also essential parts of Magyar Telekom’s annual planning process. This allows the Company to take these opportunities into account in its forecasts. 11.3 Main risk factors The Group’s financial condition, results of operations or the market prices of its securities could be materially adversely affected by any of the risks described below. These risks are not the only risks the company faces. Additional risks not currently known to the company, or risks that the company currently regard as immaterial, could also have a material adverse effect on its financial condition, results of operations or security prices. Regulatory risks ▪ Magyar Telekom operates within a strictly regulated market environment. Most of the regulatory framework is the result of EU legislation. Hungary implemented the new EU regulatory framework (1972/2018/EU) by end of 2020. ▪ The regulatory environment in North Macedonia is expected to remain strict, since the regulatory body’s (AEK) aim is at widening the scope of wholesale regulation. Risk management activities: ▪ The Group cooperates and maintains an active dialogue with regulators. ▪ The Group maintains processes to ensure compliance and provide timely and accurate information to regulators. Legal risks ▪ Regulatory cases and legal disputes with parties could have an effect on its results of operations. Risk management activities: ▪ Protecting its interest and values through legal representation, continuous management and monitoring of legal disputes. ▪ See also the compliance risk management activities. Financial risks ▪ For details on financial risks and their management, see Note 5 of the Consolidated Financial Statements. ▪ Developments in the technology and telecommunications sectors may result in impairment of the book value of certain of the company’s assets. ▪ Unpredictable changes in the Hungarian tax regulations may have an adverse effect on its results. ▪ Fluctuations in the exchange rates could have an adverse effect on its results of operations. ▪ Economic trends in Hungary and in other countries could have an adverse impact on the value of the company’s investments, operating results or financial situation.

146 ▪ The increasing trend of inflation, could erode Magyar Telekom's results with limited predictability. ▪ The global energy crisis has emerged recently, with the prices of several major energy commodities and electricity rising sharply, the significant price increasing affecting several products, including natural gas, oil, coal and electricity. Risk management activities: ▪ The company continuously analyzes financial actual data and provide forecasts on financial indicators. ▪ The company monitors technological developments and its competitors’ activities. ▪ The company carries out sensitivity analyses (e.g. foreign exchange, free cash flow). ▪ The company tests all key controls on an annual basis. ▪ The company continuously improves its processes, systems for the purpose of automated accounting, reporting and auditing. ▪ The company constantly monitors energy prices to ensure that it purchases energy at a proper price level. Strategic risks ▪ The Group is subject to intense competition in the fixed business due to overlaps with its competitors on more and more locations as a result of the network roll-outs. ▪ The Group is subject to intense competition in SI/IT segment. ▪ The North Macedonian market could also be exposed to increased competition from new entrants. ▪ Adaption to new trends and technological changes in the telecommunications market (IoT, Big Data, AI, 5G) might be a serious challenge. ▪ Its business may be adversely affected by actual or perceived health risks associated with mobile communications technologies, and unsubstantiated and rapidly spreading news about new technologies. ▪ Sustainability: information on the Group's approach to sustainability risks and opportunities can be found in Note 7 “Sustainability” of the Consolidated Business Report. Risk management activities: ▪ The company continuously invests in the development of its network. ▪ The company transform its internal processes to be even better prepared for future challenges. ▪ The company monitors technological developments and its competitors' activities. ▪ The company pursues responsible and sustainable business activities. ▪ In order to maintain trust and reputation the company continuously informs its key stakeholders on its plans, risks and achievements. ▪ The company integrates digital initiatives into its long-term planning and align their technology and business strategies. Operational risks ▪ The future of its current operational model is subject to currently unforeseeable changes in the future business environment. Risk management activities: ▪ The Group has a flexible business model. It closely monitors the competitive environment in all markets and respond accordingly to both consumer and business segment needs. ▪ Its price offers are competitive in the markets where they operate. ▪ The Group supports its business customers with its innovative products to increase efficiency. ▪ The Group transforms its internal processes to be even better prepared for future challenges. ▪ The impact of a pandemic can affect its entire risk environment. Risk management activities: ▪ Experiences in reacting to effects of COVID-19 have become part of the Group’s everyday operation. Due to the nature of the telecom industry and the importance of communication services in a pandemic, the company continuously strengthen its digital strategy. ▪ The Group continuously invests in the development of its network to prepare for the challenges of the future and to successfully continue to ensure the operation and capacity of its network infrastructure.

147 ▪ Magyar Telekom can ensure the health protection, productivity and efficient work of employees by creating and enabling conditions for teleworking. ▪ System failures could result in reduced user traffic and revenue, could lead to penalties and could harm the company’s reputation. Risk management activities: ▪ Magyar Telekom operates network monitoring systems and define recovery goals to minimize service outages. ▪ Magyar Telekom considers it of key importance to inform its customers in a timely manner about service problems thus the company operates an advanced information system. ▪ Loss of key personnel could weaken its business. Risk management activities: ▪ Operation of an advanced human resources strategy, for further details see Note 3 (“Social commitments, labor standards, human rights”) of the Consolidated Business Report. ▪ The number of cyber-attacks has increased significantly in the whole world. Cybersecurity risks have worsened due to the pandemic, as work, shopping, social interactions and education have become significantly digitized. The quick change increased the vulnerability of organizations to cyber-attacks. Also, teleworking may increase the risk of fraud and misuse of business information and data, as well as unauthorized access, theft and fraudulent use of data. Risk management activities: ▪ Magyar Telekom provides services with highest security-standards and constantly tests and updates its cyber security countermeasures. ▪ Magyar Telekom performs regular audits on key security risks affecting its business and maintains strategies to identify, prevent and respond to these challenges. ▪ Its cybersecurity approach focuses on minimizing the risk of cyber security incidents impacting its networks, systems and services. ▪ Magyar Telekom promotes conscious conduct among its colleagues via communication, campaigns and training. ▪ Data protection incidents are punishable with very high fines. Despite mitigating measures and well-designed data protection management structures data protection incidents and compliance deficiencies cannot be entirely excluded. There may be problems that can have a negative impact on Magyar Telekom's reputation and may incur costs and other legal consequences (including fines). Risk management activities: ▪ In order to ensure data protection compliance and to avoid other legal consequences (fines) the company pays special attention to process personal data in line with the principle of purpose limitation, privacy by design and privacy by default, applies the proper legal basis for processing, as well as data security measures to avoid system failures that may impact a large number of subscribers, employees or any other data subjects. ▪ The Groups regularly provides its colleagues data protection and data security trainings and other tools to help them make better and risk-conscious decisions. ▪ The increased penetration of artificial intelligence systems requires a high level of attention and can have serious legal consequences if not properly applied. Risk management activities: ▪ The Group incorporates related guidelines and requirements into its processes and provide regular legal and compliance support for business decisions in the use and development of artificial intelligence systems. ▪ In the course of use of artificial intelligence systems, if personal data processing is also involved, the company pays special attention to the compliance with the data protection requirements. ▪ Procurement and supply chain: the company cooperates with a wide range of vendors. High risk products and services include hardware, network technology components, and all products and services provided directly to end users.

148 Supply risks cannot be entirely avoided. Epidemics, transportation bottlenecks, price increases, changes in the economic or political environment or the suppliers' product strategies may have a negative impact on its business processes and results. Further risks may arise from dependencies on specific suppliers or from their default. Risk management activities: ▪ In order to reduce the Group’s exposure to risks the company implements organizational, operational and profession-specific procurement strategies. Its procurement processes are planned and are monitored through regular internal and external controls. Key professional factors for managing procurement risks: proactive management of the supplier base, supplier segmentation, risk analysis of strategic and critical suppliers and continuous active contact keeping together with the business areas. Compliance risks ▪ Violation of laws may result in loss of trust, financial sanctions, impairment of the company’s shareholder value and other sanctions. Serious violation of laws may lead to criminal proceedings, litigation and regulatory actions. Risk management activities: ▪ Magyar Telekom operates a compliance framework program for the identification, regular assessment and mitigation of risks. ▪ Magyar Telekom trains its employees, run awareness raising programs that explain its ethical norms throughout the organization and help the employees to understand their role in ensuring compliance. ▪ Magyar Telekom supports a culture where its colleagues can voice their concerns, so the company can identify problems and prevent them from happening again. 11.4 Financial risk management The classification of the Group’s financial instruments is described in detail in Note 4 and the financial risk management of the Group is described in detail in Note 5 of the Consolidated Financial Statements. 12 ANALYSIS OF FINANCIAL RESULTS FOR 2022 Key Performance Indicators At December 31, 2021 2022 Revenue (HUF million) ..................................................................................................... 692,849 746,669 Mobile revenue ........................................................................................................... 389,000 433,178 Fixed line revenue ....................................................................................................... 223,115 237,019 System Integration/Information Technology revenue ....................................... 80,734 76,472 EBITDA (HUF million) ....................................................................................................... 240,771 247,946 EBITDA margin .................................................................................................................. 34.8% 33.2% Profit attributable to owners of the Parent (HUF million) ........................................ 58,997 62,954 Capex after lease (HUF million) ..................................................................................... 193,432 129,745 Net debt (HUF million) .................................................................................................... 472,886 476,918 Net debt to EBITDA ratio................................................................................................. 1.96 1.92 12.1 Revenues Total revenue increased from HUF 692.8 billion in 2021 to HUF 746.7 billion in 2022, driven primarily by the growth in mobile data revenues coupled with higher equipment sales in both Hungary and North Macedonia, as well as increased fixed broadband revenues in Hungary. Mobile revenue increased to HUF 433.2 billion in 2022 compared to HUF 389.0 billion in 2021, reflecting the continued positive momentum in mobile data usage. ▪ Voice retail revenue declined by 2.9% to HUF 115.2 billion in 2022, reflecting competition-driven price erosion and lower usage levels at both countries of operation.

149 ▪ Voice wholesale revenue was down by 4.2% to HUF 12.3 billion in 2022, as a result of lower incoming traffic. ▪ Data revenue grew by 24.2% to HUF 147.1 billion in 2022, driven by the continued growth in subscriber numbers and strong demand for mobile data usage. ▪ SMS revenue was broadly stable at HUF 24.5 billion in 2022, as somewhat lower revenues from mass messaging in Hungary was offset by higher usage driven by the increasing retail postpaid customer bases in both countries. ▪ Mobile equipment revenue increased by 13.8% to HUF 118.2 billion in 2022, driven primarily by increase in the average handset prices. Fixed line revenue increased to HUF 237.0 billion in 2022, up from HUF 223.1 billion in 2021 as a results of higher broadband and TV revenues at the Hungarian operation. ▪ Voice retail revenues decreased by 5.7% to HUF 34.9 billion in 2022, primarily due to a further decline in the customer base in Hungary. ▪ Broadband retail revenues increased by 17.1% to HUF 73.5 billion in 2022, thanks to further growth of the customer bases in both countries that was coupled with continued strong demand for bandwidth upgrade transactions in Hungary. These developments were further strengthened by the absence of the mandatory monthly fee allowance in place in Hungary in 2021 for students and teachers to help with online education during the pandemic. ▪ TV revenues increased by 8.5% to HUF 61.3 billion in 2022, thanks to higher revenues reflecting the continued expansion of the IPTV customer bases. ▪ Fixed equipment revenues declined by 13.1% to HUF 16.9 billion in 2022, reflecting lower volume of the equipment sold at the Hungarian operation. ▪ Data retail revenues rose by 4.1% to HUF 13.2 billion in 2022 thanks to higher revenue from leased line fixed internet services in both countries. ▪ Wholesale revenues were up by 5.1% to HUF 21.0 billion in 2022 thanks to higher wholesale fixed access revenues. System Integration (SI) and IT revenues recorded a decline of 5.3% to HUF 76.5 billion in 2022, compared to HUF 80.7 billion in 2021, primarily driven by lower public sector demand in Hungary. 12.2 Direct costs Direct cost increased from HUF 304.4 billion in 2021 to HUF 324.2 billion in 2022, primarily due to higher costs of equipment sales. ▪ Interconnect cost decreased by 4.0% to HUF 24.0 billion in 2022, reflecting lower usage levels at the Hungarian operation. ▪ SI/IT service related costs declined by 2.8% to HUF 54.3 billion in 2022, reflecting lower volume of related projects during the year. ▪ Bad debt/Impairment losses and gains on financial assets and contract assets expenses were lower by 16.4% at HUF 9.2 billion in 2022 due to lower net level of forward-looking impairment recognized than in 2021. ▪ Telecom tax was lower by 2.2% at HUF 26.2 billion in 2022, reflecting lower mobile voice usage among business customers as well as the decline in fixed residential voice traffic. ▪ Other direct costs increased by 13.3% to HUF 210.4 billion in 2022, driven primarily by higher equipment costs coupled with an increase in roaming outpayments. 12.3 Gross profit Gross profit increased to HUF 422.5 billion in 2022, from HUF 388.4 billion in 2021, reflecting the increase in revenues. 12.4 Employee-related expenses Employee-related expenses rose by 1.9% year-on-year to HUF 77.3 billion in 2022, driven by wage increase and one-off compensation paid to employees which offset the lower severance expenses. 12.5 Supplementary telecommunication tax

150 Supplementary telecommunication tax, imposed by the Government of Hungary with its decree issued on June 4, is levied on the actual business year’s annual net sales of electronic telecommunication services as defined by the law on local taxes and is payable for the full years 2022 and 2023. As a consequence, a HUF 24.6 billion expense was booked in relation to the 2022 supplementary tax charge. 12.6 Other operating expenses Other operating expenses increased from HUF 75.7 billion in 2021 to HUF 80.9 billion in 2022 driven by higher energy costs in North Macedonia and general inflationary pressure weighing on material, maintenance and subcontractor costs in Hungary. 12.7 Other operating income Other operating income increased to HUF 8.2 billion in 2022 from HUF 4.0 billion 2021, primarily driven by one-off profit realized on the sale of a Hungarian IT subsidiary, Pan-Inform LLC. 12.8 EBITDA EBITDA grew to HUF 247.9 billion in 2022 versus HUF 240.8 billion in 2021, thanks to higher gross profit in both countries of operation that fully offset the increase in indirect cost and the negative impact of the introduction of supplementary telecommunication tax in Hungary. 12.9 Depreciation and amortization Depreciation and amortization (D&A) expenses declined to HUF 138.8 billion in 2022 from HUF 148.0 billion in 2021. Lower D&A expenses were attributable to full copper network retirement in some areas of Hungary, lower software related depreciation expenses thanks to the optimization of the IT infrastructure and the proportionally lower amortization of the spectrum licenses that expired in April 2022 and were since reacquired. 12.10 Operating profit Operating profit rose from HUF 92.8 billion in 2021 to HUF 109.2 billion in 2022 thanks to the combined impact of improvement in EBITDA and lower D&A expenses. 12.11 Net financial result Net financial result declined from a loss of HUF 13.7 billion loss in 2021 to a loss of HUF 24.8 billion loss in 2022. Interest expense increased driven by higher interest related to lease liabilities and higher average interest costs whilst the unfavourable change in other finance expense reflects higher losses related to the significant weakening of the forint during the period. This letter offset the higher level of gains from the recognition of derivatives at fair value. 12.12 Income tax Income tax expense rose from HUF 16.3 billion in 2021 to HUF 17.3 billion in 2022 driven by the higher profit before tax. 12.13 Profit attributable to non-controlling interests Profit attributable to non-controlling interests increased by 7% from HUF 3.9 billion in 2021 to HUF 4.1 billion in 2022, as the strengthening of the denar against the forint had a favorable impact on the consolidated results of the North Macedonian subsidiary in forint terms. In local currency terms, the North Macedonian subsidiary delivered broadly stable performance.

151 12.14 Group Free Cash Flows Free cash flow (FCF) amounted to HUF 3.6 billion cash inflow in 2022 (2021: HUF 55.2 billion cash inflow), mainly due to the reasons described below. Operating cash flow Net cash generated from operating activities slightly improved to a cash inflow of HUF 195.8 billion in 2022, compared to cash inflow of HUF 194.8 billion in 2021, attributable to the reasons outlined as follows: ▪ HUF 7.2 billion positive impact due to higher EBITDA in 2022 ▪ HUF 19.0 billion negative change in active working capital , mainly as a result of: – unfavorable change in handset inventory balances (negative impact: ca. HUF 6.0 billion) mainly due to different within-year procurement dynamics, – higher increase in net portfolio of installment receivables in 2022 versus 2021 (negative impact: ca. HUF 5.7 billion) as a result of lower sales volume due to the lockdown caused by COVID-19 in 2021, – different project seasonality led to unfavorable changes in SI/IT receivable and inventory balances in Hungary as well as in trade balances in North Macedonia (negative impact: ca. HUF 12.2 billion) – favorable change in the balance of telecommunication customer related trade receivables in Hungary (positive impact: ca. HUF 4.7 billion) mainly caused by favorable ageing of receivables. ▪ HUF 3.7 billion negative change in provisions, mainly reflecting a lower addition and higher utilization for litigation risks and penalties and risks arising from inaccuracies in tax calculations related provisions together with the unfavorable change of provisions for different incentives more than offset by the lower payment of the provision for severance in 2022 compared to 2021 ▪ HUF 25.1 billion positive change in passive working capital, primarily driven by – favorable change in the balances of invoiced and non-invoiced trade creditors in Hungary and in North Macedonia in 2022 compared to 2021 (positive impact: ca. HUF 20.0 billion) due to different outpayment timing, – lower payment for SI/IT services in Hungary in 2022 compared to 2021 (positive impact: ca. HUF 5.1 billion) due to different project seasonality. ▪ HUF 4.1 billion negative change in income tax paid mainly driven by the higher amount of corporate income tax and local business tax levels in 2022 and the one-off energy efficiency tax credit disclosed under cash flows from investing HUF millions 1-12 months 2021 1-12 months 2022 Change Net cash generated from operating activities 194,770 195,763 993 Net cash used in investing activities (101,402) (105,256) (3,854) Less: (Payments for) / Proceeds from other financial assets (9,228) (9,340) (112) Investing cash flow excluding Payments for / Proceeds from other financial assets - net (110,630) (114,596) (3,966) Repayment of lease and other financial liabilities (28,972) (77,608) (48,636) Free cash flow 55,168 3,559 (51,609) (Payments for) / Proceeds from other financial assets - net 9,228 9,340 112 Proceeds from / Repayment of loans and other borrowings - net (36,737) 19,844 56,581 Dividends paid to Owners of the parent and Non-controlling interests (18,788) (19,486) (698) Treasury share purchase (10,215) (14,609) (4,394) Exchange differences on cash and cash equivalents 118 750 632 Change in cash and cash equivalents (1,226) (602) 624

152 activities. Accordingly, the utilized tax credit reduced the amount of actually paid tax by an additional HUF 2.0 billion in 2022 compared to 2021 ▪ HUF 1.3 billion negative change in interest and other financial charges paid in 2022 compared to 2021, reflecting the combined effect of higher interest payment related to the outpayment of the one-time spectrum fee, supplemented with the higher interest rate discount effect related to the VAT component of the installment receivables in 2022 and lower interest payment due to the maturity of a loan in 2021 ▪ HUF 4.3 billion negative change in other non-cash items, mainly due to the booking of one-off gain on sale of subsidiary Pan-Inform LLC (the support and development operations provided for central digital healthcare services in Hungary and for the related hospital information system) during Q1 2022 supplemented with the more significant foreign exchange rate movements leading to FX losses during 2022 Investing cash flow excluding proceeds from other financial assets – net Net cash used in investing activities amounted to HUF 114.6 billion 2022, compared to HUF 110.6 billion in 2021, with a higher cash outflow driven mainly by the following: ▪ HUF 10.3 billion negative effect in Payments for PPE and intangible assets mainly driven by the following: – HUF 18.4 billion negative change due to higher investment in different areas (e.g. mobile network modernization in Hungary: HUF 4.7 billion negative effect, investment in CPE and provisioning: HUF 3.3 billion negative effect, network technology, including RAN modernization in North Macedonia: HUF 3.1 billion negative effect, investment in TV content in North Macedonia: HUF 2.7 billion negative effect, other network technology in Hungary: HUF 2.2 billion negative effect) – HUF 2.0 billion positive effect of the corporate income tax settlement due to higher energy efficiency tax credit utilization in 2022, – HUF 6.1 billion positive change reflecting lower payments to Capex creditors due to different seasonality. ▪ HUF 5.5 billion positive effect in Proceeds from disposal of subsidiaries and business units related to the income realized on the sale of Pan-Inform LLC during Q1 2022 ▪ HUF 1.7 billion positive effect in Payments for subsidiaries and business units mainly due to the higher volume of acquisitions of cable TV businesses in 2021 Repayment of lease and other financial liabilities Repayment of lease and other financial liabilities deteriorated to HUF 77.6 billion in 2022 from HUF 29.0 billion in 2021, primarily driven by the HUF 43.5 billion outpayment the principal part of the one-time spectrum fee for spectrum licenses and by 5.9 billion due to the higher lease payments – mainly as a result of the formerly announced leased optical network acquisition mid 2022 – against the lower payment of different long-term supplier invoices. Cash and cash equivalents improved by HUF 0.6 billion in 2022 compared to 2021. Besides the changes in FCF the deterioration is attributable to the followings: ▪ Proceeds from loans and other borrowings decreased by HUF 28.9 billion due to combined effect of the periodic decrease of proceeds from inhouse DT Group funds and the higher drawdown of DT Group loans in 2022 compared to 2021. ▪ Repayments of loans and other borrowings improved by HUF 85.5 billion due the lower repayment of DT Group loans and the decrease of repayments of inhouse DT Group funds in 2022 compared to 2021. ▪ Treasury share purchase increased by HUF 4.4 billion due to the higher repurchase in 2022. The financial and operating statistics are available on the following website: http://www.telekom.hu/about_us/investor_relations/financial

153 12.15 Statements of Financial Position The most significant changes in the balances of the Consolidated Statements of Financial Position from December 31, 2021 to December 31, 2022 can be observed in the following lines: ▪ Trade receivables within one year ▪ Derivative financial instruments contracted with related parties (current and non-current assets combined) ▪ Property, plant and equipment ▪ Other intangible assets ▪ Financial liabilities to related parties (current and non-current combined) ▪ Trade payables ▪ Other financial liabilities (current and non-current combined) ▪ Common stock Trade receivables within one year increased by HUF 13.4 billion from December 31, 2021 to December 31, 2022 mainly driven by the increase of SI/IT receivables due to the different project seasonality and the increase of installment receivables reflecting the change in sales volume. Derivative financial instruments contracted with related parties (current and non-current assets combined) increased by HUF 15.0 billion from December 31, 2021 to December 31, 2022 mainly as a result of HUF 13.9 billion increase of the fair value of derivative financial instruments contracted with related parties. Property, plant and equipment increased by HUF 38.3 billion from December 31, 2021 to December 31, 2022 mainly due to high level of capital expenditures related to the mobile base stations and fiber rollout. Other intangible assets decreased by HUF 14.0 billion from December 31, 2021 to December 31, 2022 reflecting a change of concessions and licenses. Financial liabilities to related parties (current and non-current combined) increased by HUF 35.3 billion from December 31, 2021 to December 31, 2022 due to the combined result of drawdowns, repayments and FX translation effect of DT Group loans supplemented by the increase in cash pool liabilities. Trade payables increased by HUF 16.8 billion from December 31, 2021 to December 31, 2022, reflecting an increase in outstanding balances to handset, SI/IT, Capex and OPEX suppliers. Other financial liabilities (current and non-current combined) decreased by HUF 49.0 billion from December 31, 2021 to December 31, 2022, mainly due to the HUF 44.3 billion outpayment of the one-time spectrum fee for spectrum licenses. Common stock decreased by HUF 3.7 billion from December 31, 2021 to December 31, 2022 as a result of the cancellation of 36,941,191 pieces of Series “A” dematerialized ordinary shares (treasury shares) owned by the Company, each with the face value of HUF 100. There have not been any other material changes in the items of the Consolidated Statement of Financial Position in the period from December 31, 2021 to December 31, 2022. The less significant changes in balances of the Consolidated Statements of Financial Position are largely explained by the items of the Consolidated Statement of Cash Flows for 2022 and the related explanations provided above in section 12.14 Group Cash Flows. 13 EVENTS AFTER THE REPORTING PERIOD There were not any events to be reported after the reporting period within the Group. Budapest, February 22, 2023

159 STATEMENT OF FINANCIAL POSITION - ASSETS At January 1, At December 31, At December 31, 2021 2021 2022 (in HUF millions) Note (restated*) (restated*) ASSETS Cash and cash equivalents ............................ 4.2.1 738 945 431 Trade receivables within one year................ 4.2.2 118,967 121,846 129,212 Other current assets ....................................... 12.1 2,626 4,305 6,245 Derivative financial instruments contracted with related parties .................... 2.2.1, 4.4.3 13,818 300 - Other current financial assets ....................... 2.2.1, 4.2.4.1 27,902 7,954 2,715 Contract assets ................................................ 18.4 12,006 13,158 13,805 Current income tax receivable ...................... 6 7 - - Inventories......................................................... 7 12,643 13,214 19,415 188,707 161,722 171,823 Assets held for sale ......................................... 8 489 115 - Total current assets .................................... 189,196 161,837 171,823 Property, plant and equipment..................... 9 350,141 355,973 385,484 Right-of-use assets ......................................... 9.2 117,945 119,986 116,890 Goodwill ............................................................. 10.4 173,572 173,572 173,572 Other intangible assets................................... 10 255,416 317,825 298,133 Investments ...................................................... 11 131,610 131,610 135,427 Trade receivables over one year................... 4.2.4.3 16,159 16,664 19,201 Derivative financial instruments contracted with related parties .................... 2.2.1, 4.4.3 6,878 16,415 31,723 Other non-current financial assets .............. 2.2.1, 4.2.4.2 9,504 6,837 4,484 Contract assets ................................................ 18.4 3,411 3,620 3,385 Other non-current assets ............................... 12.2 5,012 6,126 6,984 Total non-current assets ............................ 1,069,648 1,148,628 1,175,283 Total assets ................................................. 1,258,844 1,310,465 1,347,106 *See Note 2.2.1 for details regarding the restatement. Budapest, February 22, 2023 The accompanying Notes form an integral part of these Separate Financial Statements.

160 STATEMENT OF FINANCIAL POSITION – LIABILITIES AND EQUITY At January 1, At December 31, At December 31, 2021 2021 2022 (in HUF millions) Note (restated*) (restated*) LIABILITIES Financial liabilities to related parties ........... 2.2.1, 4.4.1 109,495 46,445 86,160 Derivative financial instruments contracted with related parties .................... 2.2.1, 4.4.3 13 21 2,035 Lease liabilities ................................................. 4.5.1.2, 17.2.2 20,224 21,332 24,417 Trade payables ................................................. 4.4.5 113,992 119,407 123,354 Other financial liabilities................................. 4.4.4.1 8,471 51,984 7,737 Current income tax payable .......................... 6 338 1,458 848 Provisions .......................................................... 13 3,006 2,173 1,982 Contract liabilities ........................................... 18.4 7,660 8,090 8,565 Other current liabilities ................................... 14 17,066 13,993 18,155 Total current liabilities ............................... 280,265 264,903 273,253 Financial liabilities to related parties ........... 4.4.1 89,457 90,405 98,061 Lease liabilities ................................................. 4.5.1.2, 17.2.2 112,785 113,756 112,547 Corporate bonds .............................................. 4.4.2 67,904 68,214 68,531 Other financial liabilities................................. 4.4.4.1 71,443 106,467 101,293 Deferred tax liabilities ..................................... 6.3.2 17,695 16,318 13,572 Provisions .......................................................... 13 9,604 12,126 12,093 Other non-current liabilities .......................... 15 2,907 2,474 2,034 Total non-current liabilities ....................... 371,795 409,760 408,131 Total liabilities ............................................ 652,060 674,663 681,384 EQUITY Common stock ................................................. 16 104,274 104,274 100,580 Capital reserves ............................................... 16 27,379 27,379 26,408 Treasury stock .................................................. 16 (9,351) (19,566) (18,742) Retained earnings ............................................ 16 484,482 523,715 557,476 Total equity ................................................. 606,784 635,802 665,722 Total liabilities and equity .......................... 1,258,844 1,310,465 1,347,106 *See Note 2.2.1 for details regarding the restatement. Budapest, February 22, 2023 The accompanying Notes form an integral part of these Separate Financial Statements.

161 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the year ended December 31, (in HUF millions, except per share amounts) Note 2021 2022 Mobile revenue............................................................................................... 18 350,003 386,226 Fixed line revenue .......................................................................................... 18 187,877 197,340 SI/IT revenue................................................................................................... 18.2.2 10,412 9,388 Revenue............................................................................................... 548,292 592,954 Interconnect costs......................................................................................... (19,237) (18,213) SI/IT service-related costs ........................................................................... (8,575) (7,951) Impairment losses and gains on financial assets and contract assets 4.2.2.2 (9,837) (6,814) Telecom tax .................................................................................................... 19.1 (26,785) (26,216) Other direct costs .......................................................................................... 19.2 (168,899) (193,078) Direct costs ......................................................................................... (233,333) (252,272) Employee-related expenses ........................................................................ 20 (56,100) (56,467) Depreciation and amortization ................................................................... 9, 10 (122,729) (114,209) Other operating expenses............................................................................ 21 (63,725) (63,302) Supplementary telecommunication tax ................................................... 2.2.2 - (24,497) Operating expenses ............................................................................ (475,887) (510,747) Other operating income ............................................................................... 22 3,261 4,577 Operating profit .................................................................................. 75,666 86,784 Interest income .............................................................................................. 23 615 1,891 Interest expense ............................................................................................ 24 (13,710) (18,587) Other finance expense – net ....................................................................... 25 113 (7,096) Net financial result ............................................................................. (12,982) (23,792) Results from investments ............................................................................ 26 5,728 10,668 Profit before income tax .................................................................... 68,412 73,660 Income tax....................................................................................................... 6.2 (13,868) (14,131) Profit for the period ............................................................................ 54,544 59,529 Total comprehensive income for the period ..................................... 54,544 59,529 Earnings per share (EPS) information: Profit attributable to the owners of the Company ................................. 27 58,997 62,954 Weighted average number of common stock outstanding used for basic/diluted EPS ....................................................................... 1,007,460,789 975,575,178 Basic / diluted earnings per share (HUF) .................................................. 27 58.56 64.53 Budapest, February 22, 2023 The accompanying Notes form an integral part of these Separate Financial Statements.

162 STATEMENT OF CASH FLOWS For the year ended December 31, (in HUF millions) Note 2021 2022 Cash flows from operating activities Profit for the period .......................................................................................... 54,544 59,529 Depreciation and amortization ...................................................................... 9, 10 122,729 114,209 Income tax expense ......................................................................................... 6.2 13,868 14,131 Net financial result ........................................................................................... 7,254 13,124 Change in assets carried as working capital ............................................... (7,929) (16,171) Change in provisions ........................................................................................ 823 (1,312) Change in liabilities carried as working capital .......................................... 6,002 9,504 Income tax paid................................................................................................. 6.4 (11,724) (15,640) Dividend received ............................................................................................. 26 5,679 10,680 Interest and other financial charges paid* .................................................. (19,731) (22,317) Interest received ............................................................................................... 669 1,870 Other non-cash items ...................................................................................... (299) (2,383) Net cash generated from operating activities ...................................... 171,885 165,224 Cash flows from investing activities Payments for property plant and equipment (PPE) and intangible assets .................................................................................................................. 28 (92,343) (94,900) Proceeds from disposal of PPE and intangible assets .............................. 1,360 579 Payments for subsidiaries and business units ............................................ 29 - (6,950) Payments for other financial assets.............................................................. (96) 5 Proceeds from other financial assets ........................................................... 12,443 5,830 Net cash used in investing activities ..................................................... (78,636) (95,436) Cash flows from financing activities Dividends paid to Owners of the parent ...................................................... 4.4.4.3 (15,312) (15,000) Proceeds from loans and other borrowings ................................................ 4.4.4.3 219,915 181,733 Repayment of loans and other borrowings ................................................. 4.4.4.3 (260,257) (155,006) Proceeds from corporate bonds .................................................................... 4.4.4.3 - - Repayment of lease and other financial liabilities ..................................... 4.4.4.3 (27,173) (67,420) Treasury share purchase ................................................................................. 4.4.4.3 (10,215) (14,609) Net cash used in financing activities ..................................................... (93,042) (70,302) Change in cash and cash equivalents .................................................... 207 (514) Cash and cash equivalents, beginning of period ....................................... 4.2.1 738 945 Cash and cash equivalents, end of period ............................................. 4.2.1 945 431 *In 2022 the amount of other financial charges paid is HUF 4,585 million (in 2021 HUF 4,922 million). The accompanying Notes form an integral part of these Separate Financial Statements.

163 STATEMENT OF CHANGES IN EQUITY pieces in HUF millions Shares of common stock Common stock Capital reserves Treasury stock Retained earnings Total Equity (a) (a) (b) (c) (d) Balance at January 1, 2021 ................................................................ 1,042,742,543 104,274 27,379 (9,351) 484,482 606,784 Dividend (e) ................................................................................................. - - - - (15,311) (15,311) Treasury share purchase (f) ...................................................................... - - - (10,215) - (10,215) Transactions with owners in their capacity as owners ....................... - - - (10,215) (15,311) (25,526) Profit or loss ................................................................................................. - - - - 54,544 54,544 Balance at December 31, 2021 .......................................................... 1,042,742,543 104,274 27,379 (19,566) 523,715 635,802 Dividend (e) ................................................................................................. - - - - (15,000) (15,000) Treasury share purchase (f) ...................................................................... - - - (14,609) - (14,609) Capital decrease with cancellation of treasury share (g) ...................... (36,941,191) (3,694) (971) 15,433 (10,768) - Transactions with owners in their capacity as owners ........................ (36,941,191) (3,694) (971) 824 (25,768) (29,609) Profit or loss ................................................................................................. - - - - 59,529 59,529 Balance at December 31, 2022 .......................................................... 1,005,801,352 100,580 26,408 (18,742) 557,476 665,722 Of which treasury stock ............................................................................. (43,078,833) Shares of common stock outstanding ................................................ 962,722,519 The accompanying Notes form an integral part of these Separate Financial Statements.

164 NOTES TO THE SEPARATE STATEMENT OF CHANGES IN EQUITY (l) The total amount of issued shares of common stock of 1,005,801,352 (each with a nominal value of HUF 100) is fully paid as at December 31, 2022. The number of authorized ordinary shares on December 31, 2022 is 1,005,801,352. Voting Rights and Voting The holder of each Series “A” ordinary share shall be entitled to one vote at the General Meeting of Magyar Telekom Telecommunications Public Limited Company (the Company or Magyar Telekom). The names of shareholders and nominees who intend to participate at the General Meeting shall be registered in the Share Register on the second working day prior to the starting date of the General Meeting. The General Meeting shall adopt its resolutions by a simple majority vote except for resolutions on issues listed in the Articles of Association, which shall require at least a three-quarters majority of the votes cast. There is no limitation on the rights of non-resident or foreign shareholders to hold or exercise voting rights on the ordinary shares. There is no limitation of voting rights for ordinary shares in the Articles of Association. The Company has no shares assigned with special management rights. Transfer of Shares In order to transfer dematerialized shares, there must be a contract for transfer or other legal title is required and, in that context, the transferor’s securities account must be debited and the new holder’s securities account must be credited with the transferred dematerialized shares. The holder of dematerialized share shall be considered the holder of the securities account on which the dematerialized shares are recorded. The transfer of any Series “A” ordinary shares is not bound to any restriction or attainment of agreement. (m) Additional paid-in capital represents the amount exceeding the nominal value of the shares that was received by the Company during capital increases. (n) Treasury stock represents the cost of the Company’s own shares repurchased. When the Company purchases its equity shares, the consideration transferred, including any attributable incremental external costs, are deducted from the Equity of the owners of the parent as Treasury stock until they are re-sold or cancelled. When such shares are subsequently sold, the treasury share balance decreases by the original cost of the shares, thereby increasing equity, while any gains or losses are also recognized in equity (Retained earnings). Treasury stock transactions are recorded on the transaction date. The number of treasury stock on December 31, 2022 was 43,078,833 (on December 31, 2021 was 45,777,539). (o) Retained earnings include the accumulated and undistributed profit of the Company. The distributable reserves of the Company at December 31, 2022 amounted to approximately HUF 557 billion (HUF 524 billion at December 31, 2021). Untied retained earnings is available for the payment of dividends which contains retained earnings from the last financial year (Note 16). (p) Dividends payable to the Company’s shareholders are recognized as a liability and debited against Retained earnings in the period in which the dividends are approved by the shareholders. (q) The Company repurchased own shares for HUF 14.6 billion through a share buyback auction on May 17, 2022 for the purpose of shareholders’ remuneration as approved by the Annual General Meeting on April 12, 2022 (in 2021 HUF 10.2 billion own shares were repurchased). The Company concluded repurchase transactions for 34,242,485 Magyar Telekom ordinary shares at an average price of HUF 426 per share. (r) The Common stock was decreased from HUF 104,274,254,300 to HUF 100,580,135,200 with the cancellation of 36,941,191 pieces of dematerialized series “A” ordinary shares (treasury shares) owned by the Company, each with the face value of HUF 100. The transaction amounted to HUF 15.4 billion decreased Common stock at nominal value and Capital reserves on pro-rata basis and Retained Earnings. The cancellation thus resulted in a reorganization between the elements of the total Equity, but there was no change in total Equity. The decrease of share capital as part of shareholders’ remuneration was approved on the Annual General Meeting on April 12, 2022 and registered by the Court of Registry on June 23, 2022. Following the transaction, the Company’s share capital is consist of 1,005,801,352 pieces of dematerialized series “A” ordinary shares and treasury shares of 43,078,833 pieces, each with the face value of HUF 100.

166 NOTES TO THE SEPARATE FINANCIAL STATEMENTS 1 GENERAL INFORMATION About the Company Magyar Telekom is the principal provider of telecommunications services in Hungary. These services are subject to various telecommunications regulations. The Company was incorporated in Hungary on December 31, 1991 and commenced business on January 1, 1992. The Company’s registered office is Könyves Kálmán körút 36., 1097 Budapest, Hungary. Name of the Court of Registration and the registration number of the Company: Registry Court of the Budapest-Capital Regional Court, Cg. 01-10-041928. Magyar Telekom is listed on the Budapest Stock Exchange and its shares are traded on the Budapest Stock Exchange. Magyar Telekom’s American Depository Shares (ADSs) each representing five ordinary shares were also traded on the New York Stock Exchange until November 12, 2010, when the ADSs were delisted. Magyar Telekom terminated the registration of its ADSs in the US in February 2012. The Company maintains its American Depositary Receipt program on a Level I basis. The ultimate controlling parent of the Company is Deutsche Telekom AG (DT or DT AG) who fully consolidates Magyar Telekom Group. Deutsche Telekom Europe B.V. (Stationsplein 8, 6221 BT Maastricht, the Netherlands), a member of the Deutsche Telekom Group, is the direct owner of 61.39% of the Company’s issued shares. The Consolidated Financial Statements of DT AG are available at DT AG’s website ( www.telekom.com/en). The Separate Financial Statements are prepared and presented in millions of HUF, unless stated otherwise, as the Company’s presentation currency is the Hungarian Forint. The Company’s Board of Directors (the Board) accepted the submission of these Separate Financial Statements of the Company on February 22, 2023 to the Annual General Meeting (AGM) of the owners, which is authorized to approve these financial statements, but also has the right to require amendments before approval. As the controlling shareholders are represented in the Board of the Company that accepted the submission of these financial statements, the probability of any potential change required by the AGM is remote and has never happened in the past. Persons authorized to sign the annual report: Tibor Rékasi - Chief Executive Officer, member of the Board (residence: Szentendre) Daria Aleksandrovna Dodonova - Chief Financial Officer, member of the Board (residence: Budapest) In Magyar Telekom, the accounting services are coordinated by Melinda Modok (certificate number: 18128. Area of speciality: IFRS entrepreneurial activity. Status: registered. Registration number: MK 199521. Residence: Budapest). The Company is subject to compulsory audit. The Company’s auditor is Deloitte Könyvvizsgáló és Tanácsadó Kft. (its register number is 01-09-071057, its taxation number is 10443785-2-42), the responsible person for carrying out the audit is Kornél Bodor (membership number at Chamber of Hungarian Auditors: 005343). The Company complies with the requirements of European Securities and Markets Authority (ESMA) and publishes its annual report in XHTML format from January 1, 2021. The Separate Financial Statements of Magyar Telekom and the Consolidated Financial Statements of Magyar Telekom Group are available at the Company’s registered office and on its corporate website. Magyar Telekom’s corporate website is: www.telekom.hu

167 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 2.1 Basis of preparation The Separate Financial Statements of Magyar Telekom have been prepared in accordance with International Financial Reporting Standards (IFRS) as endorsed by the European Union (EU). All standards and interpretations endorsed by the EU are effective as at December 31, 2022 and applicable to Magyar Telekom had been adopted. These Separate Financial Statements also comply with the Hungarian Accounting Act on Separate Financial Statements, which refers to the IFRS as endorsed by the EU. The Company as parent company also prepared consolidated financial statements in accordance with IFRS as endorsed by the EU which were approved by the Company’s Board of Directors on February 22, 2023. The preparation of financial statements according to IFRS requires the use of certain critical accounting estimates. It also requires management judgement to apply the Company’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas in which assumptions and estimates are significant to the Separate Financial Statements, are disclosed in Note 3. Financial statements are prepared under going concern assumptions, which means it is assumed the Company will continue to operate in the foreseeable future without the need or intention on the part of management to liquidate the entity or to significantly curtail its operational activities. 2.1.1 Initial application of standards, interpretations and amendments in the financial year The table below summarizes the Standards amended and the subject of the amendments effective on or after January 1, 2022 that could have an impact on Magyar Telekom’s accounting policies. Pronouncement Title Applied by Magyar Telekom from Changes Impact on the presentation of Magyar Telekom's results of operations and financial position Amendments to IFRS 3; IAS 16; IAS 37 and Annual Improvements 2018- 2020 Business Combinations; Property, Plant and Equipment; Provisions; Contingent Liabilities and Contingent Assets Jan 1, 2022 Package of narrow-scope amendments to three Standards as well as the Board’s Annual Improvements, which are changes that clarify the wording or correct minor consequences, oversights or conflicts between requirements in the Standards. No material impact.

168 2.1.2 Standards, amendments and interpretations that are not yet effective as at December 31, 2022 and have not been adopted early by the Company and other expected changes for 2023 and 2024. Pronouncement Title To be applied by Magyar Telekom from Changes Expected impact on the presentation of Magyar Telekom's results of operations and financial position Standards endorsed by the EU IFRS 17 and Amendments to IFRS 17 Insurance Contracts Jan 1, 2023 IFRS 17 governs the accounting for insurance contracts and replaces IFRS 4. Deferral of first-time application of IFRS 17 to January 1, 2023. The amendments refer to specific topics helping entities to implement the standard and avoiding a significant loss of useful information. No material impact is expected. Amendments to IAS 1 Presentation of Financial Statements Jan 1, 2023 Disclosure of material accounting policy information instead of significant accounting policies. In addition, IFRS Practice Statement 2 has been amended. No material impact is expected. Amendments to IAS 8 Accounting policies, Changes in Accounting Estimates and Errors Jan 1, 2023 Introduced a definition of ‘accounting estimates’ and included other amendments to help entities distinguish changes in accounting policies from changes in accounting estimates. No material impact is expected. Amendments to IAS 12 Income Taxes Jan 1, 2023 Deferred Tax related to Assets and Liabilities arising from a Single Transaction No material impact is expected. Amendments to IFRS 17 Insurance contracts Initial Application of IFRS 17 and IFRS 9 – Comparative Information Jan 1, 2023 Transition option relating to comparative information about financial assets presented on initial application of IFRS 17, helping entities to avoid temporary accounting mismatches between financial assets and insurance contract liabilities, and therefore improve the usefulness of comparative information for users of financial statements. Not applicable. Standards not yet endorsed by the EU* Amendments to IAS 1 Presentation of Financial Statements Jan 1, 2024 Classification of Liabilities as Current or Non-current and Deferral of Effective Date. No material impact is expected. Amendments to IFRS 16 Leases Lease Liability in a Sale and Leaseback Jan 1, 2024 The amendments add subsequent measurement requirements for sale and leaseback transactions that satisfy the requirements in IFRS 15 Revenue from Contracts with Customers to be accounted for as a sale. No material impact is expected. * For standards not yet endorsed by the EU, the date of first-time adoption scheduled by the IASB is assumed for the time being as the likely date of first-time adoption.

169 2.2 Change in presentation 2.2.1 Restatement of Derivative financial instruments contracted with related parties, Other current and non-current financial assets and Financial liabilities contracted with related parties In 2022, due to their level of magnitude, derivative financial instruments contracted with related parties are presented on a separate line in the Statement of financial position to ensure the reliable and fair presentation (for further information see Notes 4.2.3. and 4.4.3). In 2021 derivative financial instruments contracted with related parties were presented on the lines of current, non-current other financial assets and current financial liabilities to related parties. The Company represented the figures of Statement of financial position as of 2021 accordingly, the impacts of these changes are shown in the table below: As of January 1, As of December 31, 2021 2021 2021 2021 (HUF millions) as reported restated as reported restated Derivative financial instruments (assets) contracted with related parties ...................... - 13,818 - 300 Other current financial assets ......................... 41,720 27,902 8,254 7,954 Total............................................................... 41,720 41,720 8,254 8,254 Derivative financial instruments (assets) contracted with related parties ...................... - 6,878 - 16,415 Other non-current financial assets................. 16,382 9,504 23,252 6,837 Total .............................................................. 16,382 16,382 23,252 23,252 Derivative financial instruments (liabilities) contracted with related parties ...................... - 13 - 21 Financial liabilities to related parties (current) ............................................................... 109,508 109,495 46,466 46,445 Total............................................................... 109,508 109,508 46,466 46,466 2.2.2 Supplementary telecommunication tax On June 4, 2022 the Government of Hungary issued a decree (Government Decree of 197/2022. (VI.4.)) imposing new tax on a number of industries, including telecommunications. The supplementary telecommunication tax is levied on the actual business year’s annual net sales of telecommunication services as defined by the law on local taxes using progressive rates, appropriately weighted based on the expected full year revenue and is payable for the years 2022 and 2023. The applicable tax rate is progressive: 0% for turnover below HUF 1 billion; 1% for turnover exceeding HUF 1 billion and below HUF 50 billion; 3% for turnover exceeding HUF 50 billion and below HUF 100 billion; and 7% for turnover exceeding HUF 100 billion. The major proportion of Magyar Telekom’s telecommunication revenue is subject to 7% tax rate. The supplementary telecommunication tax classification requires judgment. Management believes that this tax is not a tax on consumption of services by end customers but rather a tax on entities operating in selected industries and its fundamental aim is to support the corrective actions in relation to the economic downturn that Hungary is facing. The calculation of supplementary telecommunication tax ignores whether revenue is invoiced to and collected from customers or not. Altogether, management classified this tax as indirect operating expense and for transparency it is disclosed on a separate line of Separate Statement of Profit or Loss and Other Comprehensive Income.

170 2.3. Functional and presentation currency Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the entity operates, that is the Hungarian forint (HUF), which is the functional currency of the Company. Foreign currency transactions are translated into HUF using the exchange rates prevailing on the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the Profit for the period (Other finance expense – net). 2.4 Macroeconomic and financial impact of Russian-Ukrainian war Management continuously monitors the progress in the Hungarian economic environment and the effect of the war, particularly the macroeconomic tendencies and current market conditions. Russia’s war in Ukraine has had a significant negative impact on the global economic outlook. Extensive sanctions have been imposed by the European Union on Russia in response to its aggression. Hungary faces high inflation and weakening of the forint above than the average rate in the Central European Region. The National Bank of Hungary introduced interventions during 2022 including gradual increase of base rate in Hungary to protect the forint and limit the inflation. In May 2022 the government declared state of energy emergency and initiated additional corrective actions to keep the Central Budget in balance. In response to the consequences of the war, the energy shortage and dramatic increase in energy prices across Europe, the government announced targeted measures such as fixing prices of basic consumption goods, cap on residential gasoline price, partial termination of caps on residential gas and electricity prices in case of usage above the average consumption level, further extension of loan moratorium and interest moratorium. In addition to the above, the introduction of the supplementary telecommunication tax (see Note 2.2.2) in 2022 is putting significant pressure on the profitability of the Company. To reflect to these changes and to ensure the reliability and security of the network the Company continued to invest in the infrastructure. The rollout of the fiber network remained a key priority and significant amount of capital expenditures was dedicated to the expansion of the network during 2022. Furthermore, the Company continued with the radio access network modernization commenced in 2020 to be able to meet the sharply rising mobile data capacity demand. The inflationary environment and the weakening of the forint put increasing pressure on the Company’s costs, while a potential economic downturn could negatively impact the Company’s top line performance. Yet the Company remains committed to focusing on the delivery of its strategic objectives. The management closely monitors the recoverability of assets, therefore the Company has conducted the goodwill impairment test quarterly during the year and paid more attention to monitor the solvency of customers, taking into account the emerging potential negative macroeconomic impacts. See details in Notes 3.2 and 3.3. Altogether, the management has not identified any events which would threaten the going concern of the Company’s operations, and no major adverse changes are expected in the long term. 2.5 Climate-related matters In 2021, a new ten-years sustainability strategy was launched by Magyar Telekom with the main objective to remain the country’s leading sustainable company by putting digitalization at the service of the development of people, families and businesses, and the protection of the environment. Climate-related key performance indicators (KPIs) are incorporated into the remuneration system of Magyar Telekom’s Officers and certain top management categories. As part of the sustainability strategy, the Company put emphasis on the modernization of technology e.g., fibre roll-out and retirement of 3G. These development plans are in the scope of the annual useful life revision therefore no significant impairment had been adjusted (see Note 9.1 and 9.3). Asset retirement obligation (ARO) recognition task is involved into the operation, done generally on specific, basically network improvements, and it is annually monitored and also evaluated in respect of any additional regulatory requirement, if any, see Note 13.2.

171 The European Green Deal prioritizes energy use and emissions of the information and communications technology (ICT) sector, recognizing that the sector can make a significant contribution to achieving 2050 climate neutrality, through 5G, artificial intelligence, Internet of Things (IoT) and cloud services, but it can also increase its energy consumption. As a first step, the European Union aims to increase energy efficiency in data centers and achieve climate neutrality by 2030. The Magyar Telekom’s new climate strategy is consistent with the European Green Deal, however, the Company’s electricity consumption has already been covered by renewable energy from 2021. Magyar Telekom has been following this practice since 2016. So far, this has been achieved through purchased guarantees of origin (GoO). The economic environment in Europe has significantly changed in 2022, therefore secure renewable energy procurement has become an important task, thus a short-term PPA contract was signed in 2022, which will replace a part of the GoO purchase from 2023 onwards. The following main targets have been set until 2030 for Magyar Telekom in the climate strategy: ▪ reduce direct and indirect greenhouse gas (GHG) emissions (scope 1+2) by 84% compared to 2015, taking real actions (without carbon credits purchase), and keep these emissions at net zero level with purchasing carbon credits ▪ reduce all other indirect emissions (scope 3) by 30% compared to 2017 ▪ enable customers to take climate action and reduce emissions by providing ICT services applicable as climate protection (i.e., smart) solutions, ▪ at least 50% of the revenues come from services that support climate protection. Risks The Company exposes a risk of future energy price uncertainty. The growing demand for green energy in the markets together with the current macroeconomic situation can lead to an increase in energy and also renewable certificate prices. The Company remains determined in its environmental strategy and continues to work including searching for new possibilities i.e., entering into long-term power purchase agreements (PPA). The management believes that long-term renewable energy use can continue to be a business advantage as customers rising demand sustainable products and services. Within the Business Continuity Management (BCM) framework, the Company identified critical climate risks (floods, heat alerts) and developed a response plan. All arising cases were investigated and analyzed, but the damage to the networks did not reach the materiality level. This analysis will help Magyar Telekom to be more resilient when modernizing the infrastructure. For reaching the emission reduction targets, including 1.5°C target of Intergovernmental Panel on Climate Change (IPCC), the regulators may set more stringent conditions in the future may result in higher expenditures for the Company. Company’s forward-looking climate strategy and achievements already accomplished, even with stricter regulations, may give an advantage over the domestic competitors. Based on this analysis Magyar Telekom does not anticipate any significant impact on its business model or on the presentation of its result of the operation or financial position. For further information see Magyar Telekom’s Sustainability Reports (https://www.telekom.hu/about_us/society_and_environment/sustainability_reports ) 3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the prevailing circumstances. The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, rarely equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities are outlined below. 3.1 Useful lives of assets The determination of the useful lives of assets is based on historical experience with similar assets as well as any anticipated technological development and changes in broad economic or industry factors. The appropriateness of the estimated useful lives is reviewed annually, or whenever there is an indication of significant changes in the underlying

172 assumptions. Management believes that this is a critical accounting estimate since it involves assumptions about technological development in an innovative industry and heavily dependent on the investment plans of the Company. Further, due to the significant weight of depreciable assets in total assets, the impact of any changes in these assumptions can be material to the financial position of the Company, and results of operations. See Notes 9 and 10 for the changes made to useful lives in 2022. The Company is constantly introducing a number of new services or platforms. In the frame of that, Magyar Telekom focuses on investment into fixed (optical) and mobile networks to meet continued strong demand for mobile data, broadband and TV services. The development of 4G and 5G platforms and the fiber rollout program was continued and there were significant investments into the customer premise equipment (CPE). Retirement of 3G network allowed the Company to increase throughput capacities by redeploying relevant frequency bands to deliver 4G and 5G services. In case of the introduction of such new services, the Company conducts a revision of useful lives of the already existing platforms, but in the vast majority of the cases these new services or assets are designed to co-exist with the existing platforms, not necessarily resulting in changing over to the new technology. Consequently, the useful lives of the existing platforms usually do not require shortening. 3.2 Estimated impairment of goodwill and investments 3.2.1 Goodwill Goodwill is not amortized but tested for impairment annually in the last quarter of the year and in the other quarters quicktests are executed. Due to economic downturn during the preparation of the financial statement of 2022 the management updated its goodwill impairment test by considering updated information on inputs like book values, foreign exchange rates and weighted average cost of capital. Similarly to 2021, no impairment needed to be recognized in 2022. On Magyar Telekom Group (“Group”) level, the Company has a considerable portion of assets and liabilities presented in the MT-Hungary segment as well as contributing a significant proportion to the result of the MT-Hungary segment. The goodwill presented in the Company was tested as the considerable part of this segment when MT-Hungary segment was examined. Since the Company as a whole is a non-separable part of the MT-Hungary segment, therefore the impairment test presented below is in reference to the MT-Hungary segment of the Magyar Telekom Group. For additional information of operating segments, see Note 33. The recoverable amounts of the operating segments are calculated based on fair value less cost of disposal (FVLCD) determined by the discounted projected cash flows of the operating segments over the next ten years with a terminal value, as the payback period of investments in the telecommunications industry covers longer period. The impairment test is based on reasonable and supportable assumptions that present the management’s best estimate incorporating market participants’ assumptions and expectations. This is highly judgmental, which carries the inherent risk of arriving at materially different recoverable amounts if estimates used in the calculations proved to be inappropriate. In the calculations, Magyar Telekom uses different weighted average cost of capital (WACC) and estimated perpetual growth rate (PGR) depending on the country of operations and the characteristics of the markets the Group’s segments operate in. Costs of certain central functions that are not cross charged are also considered in the fair value calculations when conducting the goodwill impairment tests. The costs of these central functions are allocated to the operating segments based on the segments’ revenue share of the Group’s total revenue. Details of the carrying amounts of goodwill allocated to the MT-Hungary segment are presented in Note 10.4. In 2022 and 2021 the following WACC and PGR rates have been applied in the fair value calculations for the goodwill impairment test. 2021 2022 MT-Hungary WACC ......................................................................................................... 7.95% 11.20% PGR ............................................................................................................. 1.0% 1.0%

173 Sensitivity test During the sensitivity analysis the management assessed the effects of reasonable change in the main factors to the impairment calculation based on forward-looking projections, including financial projections for inflation and base rate whether it would result in an impairment of the goodwill allocated to either operating segment. The following factors are considered: WACC, PGR, Free Cash flow and CAPEX, each analysed separately. Variation in WACC rate generate major impact for the fair value less cost of disposal of the segments. The WACCs are determined by ▪ the capital asset pricing model (CAPM) using ▪ the average of the peer group’s betas, ▪ 10-year zero-coupon government bond yields ▪ debt ratio in line with the usual indebtedness of listed peer telecommunications companies. WACC rate is determined basically by the size of 10-year-zero-coupon government bond yield. Estimation of the potential change of a 10-year zero-coupon yields is difficult, as contrary to the previous periods and this rate increased significantly by 3.26% during 2022 in MT-Hungary segment respectively due to recent economic downturn explained in Note 2.4. It is highly judgemental assessing the possible tendency of WACC indicators for the year 2023. Management expectation is a limited change in WACC, meaning it may vary in a range of plus or minus 1-2% points, based on which no impairment should be recognized. PGRs used are in line with the long-term average growth rate for the particular segment. Significant variation in PGR is not projected to be reasonable therefore no sensitivity is performed on this parameter. Projecting fluctuation of future cash flows is a challenging task in the current macroeconomic surroundings may cause solvency issues at residential and business customers. Due to the rising inflation and devaluation of the forint 5% fluctuation in free cash flow had been investigated and concluded with no indication to any impairment recognition. CAPEX budget is defined and closely monitored by the Company however considering the weakening of the forint and intensified developments on the network the future CAPEX spending can be higher than budgeted, therefore 5% variation has been used the sensitivity test which has not resulted in any need for recognition of impairment on goodwill allocated to any of the segments. Altogether, the management believes that any reasonably possible change in the above tested key assumptions on which the recoverable amount of the CGU’s is based would not cause the aggregate carrying amount to exceed the aggregate recoverable amount of the related CGUs. 3.2.2 Investments Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Cost of an investment is the fair value of consideration given, including contingent considerations and transaction costs incurred during the acquisition process. The Company examines whether an investment may or may not be impaired by using internal and external information. Magyar Telekom implemented the requirements of the IAS 36 standard as follows: If the carrying amount of investment exceeds HUF 20 billion then its recoverable amount is always analyzed using a DCF model (irrespective of whether there is any indication of impairment or not). If the carrying amount of an investment does not exceed HUF 20 billion then the Company examines, whether there were any changes related to this investment which requires the preparation of impairment assessment based on the estimation for its recoverable amount (for further information see Note 11). In 2022, the Company investigated the recoverable amount in case of T-Systems Magyarország Zrt. (TSM Zrt.), Cecoin Kft. and Stonebridge A.D. For the detailed description on these investments see Note 11.

174 The table below shows the net income and equity of the subsidiaries investigated. The figures on T-Systems Magyarország Zrt. and Cecoin Kft. are presented according to Act C of 2000 on Accounting (HAR) while figures on Stonebridge A.D. according to IFRS. 12.31.2021 12.31.2022 Profit after tax (unaudited) Equity (unaudited) Profit after tax (unaudited) Equity (unaudited) T-Systems Magyarország Zrt. ...................................... 1,738 38,494 3,044 36,966 Stonebridge A.D. ............................................................. 4,555 1,518 5,881 3,202 Cecoin Kft. * .................................................................... - - (46) 3,783 *Cecoin Kft. was acquired by the Company in August 2022. In case of T-Systems Magyarország Zrt. and Stonebridge A.D. the recoverable amount was calculated using DCF model. In DCF model Magyar Telekom uses weighted average cost of capital (WACC) and estimated perpetual growth rate (PGR). The WACCs are determined based on the capital asset pricing model (CAPM) using the average betas of the peer group, 10 year zero-coupon yields and a debt ratio in line with the usual indebtedness of listed peer telecommunications companies, while the PGRs used are in line with the long-term average growth rate for the particular segment. The Stonebridge A.D. is the owner of the 51 percent of the Makedonski Telekom A.D.’s equity, and its main activity is managing this capital. Accordingly, the Magyar Telekom uses the DCF model of Makedonski Telekom A.D for the estimation of recoverable amount of Stonebridge A.D. The fair value less cost of disposal (FVLCD) of these investments exceeds their carrying amount therefore impairment of these investments did not need to be recognized neither in 2022 nor in 2021. See Note 11 for details of carrying amount of investments. The table below shows the WACCs and PGRs used in the fair value calculations of these investments conducted in 2021 and 2022. T-Systems Magyarország Zrt. Stonebridge A.D. 2021 2022 2021 2022 Perpetual growth rate of CF .............................. 0.00% 0.00% 1.00% 1.00% WACC (post tax incl. local taxes) ..................... 9.65% 15.06% 4.84% 8.90% As for the Cecoin Kft. the Company decided on the liquidation after acquired a fiber network the only asset possessed by the Cecoin Kft. and the remaining equity distributable as dividend was paid to the Company. The recoverable amount of Cecoin Kft., declined below the carrying amount for the expected amount to be paid to the owners at the end of the liquidation process does not cover the book value of the investment. Consequently HUF 3,133 million impairment was recognized in the Statement of Profit or Loss (for further information see Note 26). 3.3 Estimated impairment of trade and other receivables Impairment is calculated for accounts receivable based on estimated losses resulting from the inability of customers to make required payments. For the largest customers and other telecommunications service providers, impairment is calculated on an individual basis, while for other customers it is estimated on a portfolio basis - classification see Note 4.1.2 -, for which the base of estimate is the aging of accounts receivable balance and historical write-off experience, customer credit-worthiness and recent and expected changes in customer payment terms and forward-looking information e.g. unemployment rates, credit crisis, inflation, national and international statistics, macroeconomic surroundings and publications of the National Bank of Hungary. In addition, the nature of the business (residential, business, fixed line, mobile, internet, cable TV, etc.) is also considered and the environment in which the Company’s entities operate in the various markets. The above factors of impairment calculation are reviewed annually, and changes are made to the calculations when necessary. The assessment of the correlation between historically observed default rates, forecasted economic conditions and expected impairment is considered as a critical estimate.

175 According to the best estimation based on the annual reassessment the management concluded that there is no reason to modify the bad debt ratios used previously for the portfolios. The management also assessed the effect of possible termination of utility cost reduction, an acceleration of inflation, sharp rise in energy and food prices in Hungary and the end of the loan moratorium which may have a negative impact on the monetization of installment receivables and concluded that a further approximately HUF 800 million impairment was required. The annual revision also revealed that no other asset classes have been impacted materially. A sensitivity analysis had also been prepared that shows how much impairment would have been recognized on installment receivables as at December 31, 2022 if the estimated non-payment rate is changed. According to this, the financial effect of 1% and 2% improvement (-) and deterioration (+) of the applied estimated non-payment rate would increase or decrease by HUF 0.8 billion and by HUF 1.6 billion the carrying value of these trade receivables (current and non-current part). If the financial condition of customers were to deteriorate, actual write-offs of currently existing receivables may be higher than expected and may exceed the level of the impairment losses recognized so far. The management pays particular attention to the continuous monitoring of the solvency of the customers in the future and would take additional corrective actions if it is necessary. Please see further information Notes 4.1.1, 4.2.2.2 and 5.1.2. 3.4 Contracts with customers The Company applies the guidance to a group of contracts with similar characteristics instead of to a single contract with a customer. The characteristics considered include mainly the business segment of the customer, business model of the contract, and whether the contract is committed or not. Contract assets are recognized for unbilled amounts typically resulting from sales under long-term contracts when revenue recognized exceeds the amount billed to the customer in that period. This is a temporary difference so that revenue recognized and revenue billed are the same by the end of the commitment term. The amount of the contract assets is determined considering the estimated churn rate, average contract cancellation rates (in first 14 days), estimated penalty rates of the relevant group of contracts and effective interest rate. Contract assets are released monthly – in line with revenue from invoiced services to customers – during the minimum contract term of the relevant group of contracts. Furthermore, the Company recognizes assets for costs incurred in connection with the signing of customer contracts which would not have been incurred if the customer contract had not been concluded (contract cost). Capitalization is subject to the expectation that those costs will be recovered by future revenue resulting from the contract. Costs of obtaining a contract with a customer generally include sales commissions in both direct and indirect distribution channels (selling and marketing costs, bid and proposal costs, sales commissions and legal fees). Capitalizing incremental costs of obtaining a contract does not only refer to contracts concluded with a new customer but also to contract renewals. Costs of obtaining a contract with a customer recognized on fix and mobile telecommunication services, are amortized on a portfolio basis over the period that the related goods or services are transferred to the customer which is ▪ in case of uncommitted contracts – without loyalty period - based on historical customer retention period (e.g. average period of usage of prepaid cards, postpaid, broadband, and IT services) and ▪ in case of committed contracts - with a loyalty period of 12-24 months - the commitment period is considered as amortization period (e.g. postpaid, broadband, IT services and bundled sales of equipment and services). The Company decided not to use the practical expedient of expensing the incremental costs of obtaining a contract immediately, which are amortized over a period of one year or less. See Note 18.4 for the amount of contract assets, contract liabilities and contract costs. 3.5 Leases – Estimating the incremental borrowing rate and assessment of extension and termination options At the commencement date, a lessee shall measure the lease liability at the present value of the lease payments that are not paid at that date.

176 The lease payments shall be discounted using the interest rate implicit in the lease, if that rate can be readily determined. If that rate cannot be readily determined, the lessee shall use the lessee’s incremental borrowing rate. The incremental borrowing rate reflects the main risks of the lease arrangements in a specific country and is provided for each year up to a maturity of 30 years. A change in the interest rate is only applicable when after initial recognition the contract is modified, or a reassessment is necessary which causes a change in the interest rate. Generally, Magyar Telekom uses the lessee’s incremental borrowing rate. Magyar Telekom never uses negative interest rates. Any negative interest rates will be capped at an amount of zero. The Company has several lease contracts that include extension and termination options. These options are negotiated by management to provide flexibility in managing the leased-asset portfolio and align with the Company’s business needs. Management exercises significant judgement in determining whether these extension and termination options are reasonably certain to be exercised. Extension options (or periods after termination options) are only included in the lease term if the Company is reasonably certain to exercise an option to extend the lease, or not to exercise an option to terminate the lease. The threshold for a “reasonably certain” exercise is lower than “virtually certain” and higher than “more likely than not.” For further information see Note 17.2.2. 4 FINANCIAL INSTRUMENTS A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial assets of the Company include ▪ cash and cash equivalents; ▪ equity instruments of another entity; ▪ contractual rights: ▪ to receive cash (trade receivables) or another financial asset from another entity; or ▪ to exchange financial assets or financial liabilities with another entity under conditions that are potentially favorable to the entity (derivatives); ▪ a contract that will or may be settled in the entity’s own equity instruments and is: ▪ a non-derivative for which the entity is or may be obliged to receive a variable number of the entity’s own equity instruments; or ▪ a derivative that will or may be settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose, the entity’s own equity instruments do not include puttable financial instruments classified as equity instruments, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. Financial liabilities of the Company include liabilities that originate from ▪ contractual obligations: ▪ to deliver cash or another financial asset to another entity (non-derivatives); or ▪ to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavorable to the entity (derivatives); or ▪ a contract that will or may be settled in the entity’s own equity instruments and is: ▪ a non-derivative for which the entity is or may be obliged to deliver a variable number of the entity’s own equity instruments; or ▪ a derivative that will or may be settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose, the entity’s own equity instruments do not include puttable financial instruments that are classified as equity instruments, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments.

177 4.1 Financial assets – accounting policies The Company classifies its financial assets on the basis of both: ▪ the entity's business model for managing the financial assets and ▪ the contractual cash flow characteristics of the financial asset in the following categories: ▪ at amortized cost if both of the following conditions are met: ▪ the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and ▪ the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding. ▪ at fair value through other comprehensive income (FVOCI) if both of the following conditions are met: ▪ the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and ▪ the contractual terms of the financial asset give rise on specified dates to cash flows that are SPPI on the principal amount outstanding. ▪ at fair value through profit or loss (FVTPL) unless it is classified in the previous categories. Also IFRS 9 4.1.4 provides the option to measure particular investments in equity instruments at fair value through other comprehensive income (OCI option). Changes in value are then recognized immediately and in full in other comprehensive income. The Company generally exercises this option. For the purpose of the above classification: ▪ principal is the fair value of the financial asset at initial recognition ▪ interest consists of consideration for the time value of money, for the credit risk associated with the principal amount outstanding during a particular period of time and for other basic lending risks and costs, as well as a profit margin. Standard purchases and sales of financial assets are recognized on settlement-date, on the date when the financial asset is actually settled ('settlement date accounting'). Financial assets are initially recognized at fair value plus transaction costs for all financial assets not carried at fair value through profit or loss. Financial assets carried at fair value through profit or loss are initially recognized at fair value, and transaction costs are expensed in the Profit for the period. Financial assets are derecognized when the rights to receive cash flows from the investments have expired or have been transferred. Financial assets have been transferred when the contractual rights to receive cash flows of the financial assets have been transferred or the contractual rights to receive cash flows of the financial assets have been retained but there is a contractual obligation to pay the cash flows to one or more recipients in an arrangement compliant with the conditions set out by IFRS 9. Any gains or losses on derecognition are recognized in Profit for the period and are calculated as the difference between (a) the sum of the consideration received and any cumulative gain or loss that had been recognized in other comprehensive income and (b) the carrying amount derecognized with an exception for equity instruments for which the Company exercises the option of measurement at fair value through other comprehensive income in which case gains or losses are recognized directly to retained earnings. 4.1.1 Impairment of financial assets Depending on the business model of the Company and the characteristics of the contractual cash flows of the financial assets, financial assets are subsequently measured at amortized cost, at fair value through other comprehensive income or at fair value through profit or loss. A loss allowance must be recognized for financial assets measured at amortized cost and at fair value through other comprehensive income except when the OCI option was applied. The loss allowance must be recognized through profit or loss and reduces the carrying amount of the relevant financial asset measured at amortized cost; while in the case of financial assets measured at fair value through other comprehensive income where applicable, the corresponding offsetting entry is recognized in other comprehensive income and does not reduce the carrying amount of the financial asset. Loss allowances must also be recognized for lease receivables as defined in IFRS 16, contract assets as defined in IFRS 15, financial guarantee contracts and loan commitments relating to loans bearing an off-market interest rate.

178 If the credit risk arising from the financial asset has increased significantly since initial recognition, the loss allowance must be measured at an amount equal to the lifetime expected credit losses. Lifetime expected credit losses are the expected credit losses that result from all possible default events over the expected life of a financial instrument. If the credit risk arising from the financial asset has not increased significantly since initial recognition, the loss allowance must be measured at an amount equal to the 12-month expected credit losses. The 12-month expected credit losses represent the total expected credit losses that result from default events on a financial instrument that are possible within the twelve months after the reporting date, weighted by the likelihood that a default event will occur during that period. Based on the changes in credit risk, it must be assessed at each reporting date whether the current loss allowance must be measured at an amount equal to the lifetime expected credit losses based on historical data and forward-looking considerations driven by the expected macroeconomic tendencies (unemployment rates, credit crisis, inflation, national and international statistics, governmental intervention, publications of the National Bank of Hungary or at an amount equal to the 12-month expected credit losses in accordance with the criteria above. Indicators that may sign a significant increase in the credit risk: ▪ contractual payments are more than 30 days past due ▪ change in external/internal rating ▪ changes in market conditions that could influence payment obligations ▪ financial difficulties of the borrower that significantly alter its creditworthiness ▪ adverse changes in business, financial, or economic conditions, i.e. increase in interest rates or unemployment rates Indicators for default event support the uncollectible classification in credit risk: ▪ financial asset is more than 90 days overdue ▪ counterparty repeatedly fails to meet payment obligations and the service is blocked (contract was not yet terminated) ▪ counterparty is over the credit limit with unpaid invoices and fails to pay despite repeated demands ▪ counterparty applies for insolvency protection proceedings ▪ in addition to the above quantitative aspects, qualitative aspects should also be taken into account in the evaluation, such as e.g. non-compliance with covenants The simplified and the general approaches are to be applied to assess and account for credit losses. ▪ Simplified approach All financial instruments underlying simplified approach are measured with lifetime expected credit loss based on historical data and forward-looking considerations driven by the expected macroeconomic tendencies. Therefore, except for insolvency, neither any indicators for increase in credit risk nor any default events are relevant within the simplified approach. The simplified approach is applicable for trade receivables, contract assets and lease receivables without a significant financial component. The Company has chosen to use the simplified approach for these receivables with a significant financial component as well. ▪ General approach According to the expected credit loss model the financial instruments are classified into three buckets. The classification into the three buckets is based upon the changes of the credit risk for the financial asset. A relative credit risk model is used for the evaluation of an increased credit risk. The significant increase of credit risk in comparison to the initial recognition is reflected in the transfer of the financial instrument between the buckets. According to the expected credit risk model the impairment is determined differently for the three buckets. The impairment for financial instruments in bucket 1 is calculated based upon the 12-month expected credit loss. The impairment for financial instruments in bucket 2 and 3 is calculated based upon the lifetime expected credit losses. The general approach is applied for bank accounts, factoring receivables, other financial receivables and employee loans, which financial instruments are classified into bucket 1. Factoring of trade receivables is generally without recourse that results in derecognition of trade receivables and recognition of other receivables from factoring. For further information see Note 4.2.4.3.

179 4.1.2 Financial assets measured at amortized cost The following items are assigned to this category: ▪ cash and cash equivalents; ▪ deposits over three months; ▪ trade receivables; ▪ other receivables. Financial assets at amortized cost are initially recognized at fair value and subsequently carried at amortized cost using the effective interest method (relevant only for the receivables with long-term maturity), considered to be not material for financial assets within one year. Cash and cash equivalents Cash and cash equivalents include cash on hand and in banks, and all highly liquid deposits and securities with original maturities of three months or less and exclude all overdrafts. Trade receivables Receivables with similar credit risk characteristics assessed collectively for impairment, based on business segments (residential, business, wholesale and other category), type of service delivered (telco and SI/IT services), receivables with installments and governmental institutions including local governments. Impairment and subsequent recoveries of amounts previously written off are accounted for against the period’s as Impairment losses and gains on financial assets and contract assets as part of Direct costs in the Statement of Profit or Loss. 4.1.3 Financial assets at fair value through other comprehensive income (FVOCI) The “financial assets at fair value through other comprehensive income” measurement category includes the following financial assets: ▪ listed and unlisted equity instruments for that OCI option has been applied; ▪ debt instruments within a business model whose objective is achieved by both collecting contractual cash flows that are solely payments of principals and interests and selling financial assets. Equity instruments at fair value through other comprehensive income where OCI option was applied The OCI option may only be applied for the equity instrument in its entirety, and only at initial recognition of the equity instrument in question. In the event of exercise, measurement does not give rise to effects on profit or loss. However, dividends are recognized in profit or loss. Equity instruments at fair value through other comprehensive income are initially recognized at fair value and are also subsequently carried at fair value. The unrealized changes in the fair value of financial assets at fair value through other comprehensive income are recognized in equity, in the Revaluation reserve for FVOCI financial assets. When equity instruments classified as financial assets at fair value through other comprehensive income are sold, the accumulated fair value adjustments recognized in equity before are recognized directly to retained earnings. Debt instruments at fair value through other comprehensive income The Company does not classify any financial assets as a debt instruments at fair value through other comprehensive income based on the SPPI test. 4.1.4 Financial assets at fair value through profit or loss (FVTPL) Financial instruments which do not meet the conditions set out to be initially classified either at amortized cost or at fair value through other comprehensive income must be measured at fair value through profit or loss. The “financial assets at fair value through profit or loss” measurement category includes the following financial assets:

180 ▪ Debt instruments that are designated as “at fair value through profit or loss” using the fair value option. ▪ Equity instruments acquired for the purpose of selling immediately or in the near term and thus classified as “held for trading” and equity instruments not held for trading where the OCI option has not been applied. ▪ Derivative financial assets. ▪ Debt instruments not fulfilling conditions of either financial assets at amortized cost or financial assets at fair value through other comprehensive income. Financial assets at fair value through profit or loss are subsequently carried at fair value. Gains or losses arising from changes in the fair value of the financial assets at fair value through profit or loss category are recognized in the profit or loss in the period in which they arise. 4.2 Financial assets in the statements of financial position 4.2.1 Cash and cash equivalents Cash and cash equivalents include cash on hand and in banks, and all highly liquid deposits and securities with original maturities of three months or less and exclude all overdrafts. These financial assets are exposed to credit risks, for which see more details in Note 5.1.2. Based on the impairment test no impairment had to be recognized for any of these balances in the reported years. Cash and cash equivalents 12.31.2021 12.31.2022 Cash on hand ........................................................................................................ 40 118 Cash in bank (demand deposits) ...................................................................... 905 313 Total ........................................................................................................... 945 431 Average interest rates 12.31.2021 12.31.2022 Cash on hand ........................................................................................................ 0.00% 0.00% Cash in bank (demand deposits) ...................................................................... 0.00% 10.25% Average interest rate ................................................................................. 0.00% 7.44% Cash and cash equivalents by currency 12.31.2021 12.31.2022 HUF .......................................................................................................................... 945 431

181 4.2.2 Trade receivables within one year 4.2.2.1 Trade receivables within one year – carrying amount The carrying amounts of trade receivables are shown net of impairment losses charged as of the financial statement dates. Age profile of trade receivables The following table shows the age profile of the Company’s gross trade receivables by days outstanding. 12.31.2021 12.31.2022 Not past due ........................................................................................................... 111,814 122,515 Past due by less than 30 days ................................................................................................. 15,127 12,466 30–60 days ........................................................................................................... 2,616 2,966 61–90 days ........................................................................................................... 1,091 896 91–180 days ......................................................................................................... 1,573 1,320 181–360 days ...................................................................................................... 1,815 1,470 over 360 days ....................................................................................................... 2,984 3,492 Customers under bankruptcy ............................................................................. 419 480 Carrying amount ......................................................................................... 137,439 145,605 Vast majority of trade receivables is impaired on a portfolio basis using the simplified approach. Vast majority of past due trade receivables is partly or fully impaired depending mainly on the period of delay of payments. 4.2.2.2 Impairment losses of trade receivables and contract assets The table below shows the impairment losses and changes for trade receivables based on the lifetime expected credit losses therein for 2021 and 2022. 2021 2022 Impairment loss, beginning of period ............................................................. 15,358 17,866 Charged to expense – net (included in Direct costs) ................................... 8,671 5,855 Utilized ................................................................................................................... (a) (6,163) (4,592) Impairment loss, end of period ................................................................. 17,866 19,129 (a) Utilized means reversed on derecognition (settlement, write-off or factoring). 12.31.2021 12.31.2022 Trade receivables from third parties ..................................................................... 117,122 121,689 Trade receivables from subsidiaries ...................................................................... 1,601 2,296 Trade receivables from other related parties ...................................................... 3,123 5,227 Total trade receivables ................................................................................... 121,846 129,212

182 The following tables show the age profile of trade receivables allowances based on lifetime expected credit losses therein for 2021 and 2022. 12.31.2021 12.31.2022 Not past due ........................................................................................................... 9,561 10,746 Past due by less than 30 days ................................................................................................. 1,091 971 30–60 days ........................................................................................................... 771 956 61–90 days ........................................................................................................... 636 461 91–180 days ......................................................................................................... 1,146 953 181–360 days ...................................................................................................... 1,442 1,142 over 360 days ....................................................................................................... 2,800 3,420 Customers under bankruptcy ............................................................................. 419 480 Total amount ............................................................................................... 17,866 19,129 The table below shows the impairment losses and changes for contract assets based on the lifetime expected credit losses therein for 2021 and 2022. 2021 2022 Impairment loss, beginning of period .............................................................. 1,615 1,599 Charged to expense – net (included in Direct costs) .................................... 1,166 958 Utilized .................................................................................................................... (a) (1,182) (1,521) Impairment loss, end of period ................................................................. 1,599 1,036 (a) Utilized means reversed on derecognition (settlement, write-off or factoring). See also Note 5.1.2 for further analysis of credit risks related to Trade receivables. 4.2.3 Derivative financial instruments contracted with related parties Derivatives contracted with related parties include cross-currency interest rate swaps and FX forwards concluded with DT AG to change the Company’s exposure to HUF in the case of the EUR-denominated loans and to cover FX needs of expected future foreign currency outflows (see more details in Notes 2.2.1, 4.5.1.1, 5.1.1.1 and 5.1.1.2). 12.31.2021 12.31.2022 Cross currency and interest rate swaps (non-current) .......................................... 16,415 31,723 Forward deals (current) ................................................................................................ 300 - Total derivative financial instruments contracted with related parties ........ 16,715 31,723 4.2.4 Other financial assets Other financial assets include receivables due within 12 months (current) and due after 12 months (non-current) from the end of the reporting period (financial statements date). These financial assets are exposed to credit risks, for which see more details in Note 5.1.2. The impairment loss recognized or reversed for other current and non-current financial assets is not material.

183 4.2.4.1 Other current financial assets 12.31.2021 12.31.2022 Loans to related parties ....................................................................................... 1,765 1,143 Receivables from asset-related grants ............................................................ (a) 3,507 838 Finance lease receivable ..................................................................................... (b) 443 276 Cashpool receivables ........................................................................................... (c) 1,258 - Other ....................................................................................................................... 981 458 Total ............................................................................................................ (d) 7,954 2,715 For the explanations of (a)-(d) see Note 4.2.4.2. 4.2.4.2 Other non-current financial assets 12.31.2021 12.31.2022 Finance lease receivable ....................................................................................... (b) 5,028 2,718 Equity instruments ................................................................................................. (e) 1,182 1,289 Other ......................................................................................................................... 627 477 Total.............................................................................................................. (d) 6,837 4,484 (a) Starting from 2016 HUF 11.6 billion of EU funds were utilized by Magyar Telekom. The first and second rounds of the tender aimed to develop digital networks nationwide to cover households in Western and Eastern parts of Hungary with a fixed network capable of reaching speed of at least 30 Mbps. The Company received HUF 10.8 billion grant related to EU fund in advance from which HUF 5 million has not been used yet. The Company accomplished a number of investments which complied with the condition of the related EU Funding Contracts. With respect to these completed investments the amount of the grant which has not been financially settled yet is presented as receivable. For those investments where the conditions have not been satisfied yet, the advances received are shown as part of Other current liabilities (Unused advance payments for asset related grants). 12.31.2021 12.31.2022 Accumulated grant recognized in PPE................................................. 11,683 11,635 Accumulated advance payments received (Note 14) ..................... 8,188 10,802 Unused advance payments for asset-related grants (Note 14) .... 12 5 Receivables from asset-related grants ................................................ 3,507 838 (b) See Note 17.2 for more information on Finance lease receivable. (c) The following tables show the currency breakdown. 12.31.2021 Carrying amount Borrower Currency Interest rate (%) Fixed / floating 1,258 KalászNet Kft. HUF 4.35 floating Due within 1 year ..... 1,258 (d) Derivative financial instruments contracted with related parties are presented in a separate note. For further information see Notes 2.2.1 and 4.2.3. (e) The Company has got a 50% participation in E2 Hungary Zrt., the former Joint Venture of the Group, meanwhile has no significant influence over the company due to the agreement with the other investor MET Holding AG (MET) (from January 2023 the other owner is MET Sales and Trading Holding AG). Based on the terms of the agreement the equity instrument was designated as a financial asset measured at fair value through profit or loss. Due to that particular

184 agreement also MET has got a call option on E2 Hungary Zrt., which was recognized as a financial liability measured at fair value through profit or loss correspondingly. The estimated expected credit loss on other current and non-current financial assets considered to be not material and not recognized. 4.2.4.3 Trade receivables over one year Trade receivables over one year (HUF 19,201 million as at December 31, 2022 and HUF 16,664 million as at December 31, 2021) mainly includes receivables from customers paying over one to two years in installments for telecommunications equipment sold. The impairment on trade receivables over one year was HUF 2,736 million as at December 31, 2022 (2021: HUF 2,273 million). For further information see Note 3.3. 4.3 Financial liabilities – accounting policies There are two measurement categories for financial liabilities used by the Company: ▪ Financial liabilities carried at amortized cost ▪ Financial liabilities at fair value through profit or loss Both types of financial liabilities are initially recognized at fair value, while subsequent measurements are different (see below). A financial liability except lease liabilities (see Note 17) is derecognized (or a part of a financial liability) from the Statements of financial position when, and only when, it is extinguished – i.e. when the obligation specified in the contract is discharged, cancelled or expired. 4.3.1 Financial liabilities carried at amortized cost The measurement category for “financial liabilities measured at amortized cost” includes all financial liabilities not classified as “at fair value through profit or loss”. Loans and other financial liabilities Loans and other financial liabilities are recognized initially at fair value less transaction costs, and subsequently measured at amortized costs using the effective interest rate method. The effective interest is recognized in the Profit for the period (Interest expense) over the period of the liabilities. Trade and other payables Trade and other payables (including accruals) are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method. Bonds Bonds are recognized initially at fair value less transaction cost and subsequently measured at amortized cost using the effective interest rate method. 4.3.2 Financial liabilities at fair value through profit or loss Derivative financial instruments are measured under at fair value through profit or loss model. The Company currently has no intention of measuring non-derivative financial liabilities at fair value. Derivatives are initially recognized at fair value on the date a derivative contract is entered into and their fair values are re- measured at subsequent financial statements dates. The Company does not apply hedge accounting for its financial instruments therefore all gains and losses are recognized in the Profit for the period (Other finance expense – net).

185 4.4 Financial liabilities in the statements of financial position 4.4.1 Financial liabilities to related parties Financial liabilities to related parties include HUF- and EUR-denominated loans taken from Deutsche Telekom AG (DT AG) and the Company’s subsidiaries and cashpool liabilities. For the whole nominal amount and interest payment of loans denominated in EUR granted by DTAG, the Company have cross-currency interest rate swap agreements in place (with DT AG) so that Magyar Telekom’s exposure in fact remains in HUF. Swapped HUF interest rates are fixed (2.69% and 2.08%). The tables below show the details of the financial liabilities towards related parties as at December 31, 2021 and 2022. 12.31.2021 Carrying amount (HUF million) Lender Contrac- ted currency Effective interest rate (%) Interest-formula Fixed / floating Maturity Original Term (Year/s) 29,520 DT AG EUR 0.00 1 m EURIBOR+0.564% floating July 2022 1 50 TNM* HUF 3.15 3 m BUBOR+0.7% floating March 2022 10 554 Combridge EUR 0.80 3 m EURIBOR+0.8% floating March 2022 9 295 Combridge EUR 0.80 3 m EURIBOR+0.8% floating March 2022 9 50 TNM* HUF 2.57 3 m BUBOR+0.7% floating March 2022 10 200 TNM* HUF 3.59 3 m BUBOR+0.7% floating March 2022 10 1,579 DT AG USD 0.34 ** Cashpool N/A 5,596 DT AG HUF 1.98 ** Cashpool N/A 1,158 DT AG EUR 0.27 ** Cashpool N/A (4,042) TSM Zrt. USD 1.10 ** Cashpool N/A 737 TSM Zrt. EUR 0.85 ** Cashpool N/A 9,925 TSM Zrt. HUF 3.95 ** Cashpool N/A 635 Investel Zrt HUF 3.95 ** Cashpool N/A Due within 1 year ........ 46,257 Accrued interest*** ...... 158 Other financial liabilities 30 Total current ............... 46,445 44,280 DT AG EUR 0.30 6 m EURIBOR+0.826333% floating May 2024 5 46,125 DT AG EUR 0.52 6 m EURIBOR+1.02879% floating Jan 2025 5 Total non-current........ 90,405 *Telekom New Media Zrt. **Interest rates are defined by DT AG on monthly basis. ***Accrued interest shows the aggregated discount value of DT loans’s amortized cost while the loans separately show the principals of the particular loan. The whole amount of all DT loans is due on the expiring date.

186 12.31.2022 Carrying amount (HUF million) Lender Contrac- ted currency Effective interest rate (%) Interest-formula Fixed / floating Maturity Original Term (Year/s) 20,000 DT AG HUF 13.27 fix: 13.27% Fixed July 2023 1 20,013 DT AG EUR 3.01 1 m EURIBOR+1.11% Floating Nov 2023 1 12,008 DT AG EUR 3.06 3 m EURIBOR+1.09% Floating Dec 2023 1 50 TNM* HUF 16.32 3 m BUBOR+0.7% Floating March 2023 11 50 TNM* HUF 17.35 3 m BUBOR+0.7% Floating March 2023 11 200 TNM* HUF 16.04 3 m BUBOR+0.7% Floating March 2023 11 320 Combridge EUR 2.93 3 m EURIBOR+0.8% Floating March 2023 10 480 Combridge EUR 2.29 3 m EURIBOR+0.8% Floating March 2023 10 40 Combridge EUR 2.56 3 m EURIBOR+0.8% Floating March 2023 10 3,648 Cecoin Kft. HUF 16.46 1 m BUBOR+0.7% Floating March 2023 1 900 ViDaNet Zrt. HUF 16.04 1 m BUBOR+0.7% Floating March 2023 1 200 ITgen Kft. HUF 16.29 1 m BUBOR+0.7% Floating March 2023 1 1,510 DT AG USD 4.02 ** Cashpool N/A 11,085 DT AG HUF 18.28 ** Cashpool N/A (732) DT AG EUR 1.65 ** Cashpool N/A (1,631) TSM Zrt. USD 5.32 ** Cashpool N/A 1,341 TSM Zrt. EUR 2.61 ** Cashpool N/A 13,170 TSM Zrt. HUF 17.57 ** Cashpool N/A 684 Investel Zrt. HUF 17.57 ** Cashpool N/A 804 Kalásznet Kft HUF 17.57 ** Cashpool N/A Due within 1 year ........ 84,140 Accrued interest*** ...... 1,966 Other financial liabilities 54 Total current ............... 86,160 48,030 DT AG EUR 3.17 6 m EURIBOR+0.826333% floating May 2024 5 50,031 DT AG EUR 1.25 6 m EURIBOR+1.02879% floating Jan 2025 5 Total non-current........ 98,061 *Telekom New Media Zrt. **Interest rates are defined by DT AG on monthly basis. ***Accrued interest shows the aggregated discount value of DT loans’s amortized cost while the loans separately show the principals of the particular loan. The whole amount of all DT loans is due on the expiring date. As at December 31, 2022 current liabilities exceed current assets by HUF 101,430 million, primarily due to the short-term loan facilities received from DT AG that were taken to finance working capital and daily ongoing activities. Management believes that short-term liabilities from DT AG will be refinanced in a similar manner to previous years. Financing needs will also be covered by cash flows generated by operating activities and third-party credit line facilities (see Note 5.1.3).

187 The table below shows the carrying amounts and fair values of the related-party loans. 12.31.2021 12.31.2022 Book Value Fair Value Book Value Fair Value HUF denominated loans At fixed rate .................................................. - - 20,000 20,000 At floating rate............................................. 16,456 16,456 30,791 30,788 16,456 16,456 50,791 50,788 EUR denominated loans At fixed rate .................................................. - - - - - - At floating rate............................................. 122,669 122,669 131,530 133,009 122,669 122,669 131,530 133,009 USD denominated loans At fixed rate .................................................. - - - - - - At floating rate............................................. (2,463) (2,463) (120) (120) (2,463) (2,463) (120) (120) Accrued interest.............................................. 158 158 1,966 1,966 Other financial liabilities ................................ 30 30 54 54 Total related-party financial liabilities ..... 136,850 136,850 184,221 185,697 The weighted-average interest rate on related-party loans was 6.16% in 2022 (0.65% in 2021). Any decrease in market interest rates will result in an increase in the fair value of the fixed interest rate liabilities. There were no defaults or breaches in connection with the financial liabilities to related parties. 4.4.2 Bonds In 2020 Magyar Telekom has initiated a review of its external funding framework in order to diversify and enhance the maturity profile of the Company’s debt portfolio. Accordingly, the Company participated in the Bond Funding for Growth Scheme (“Scheme” or “BGS”) of the National Bank of Hungary and obtained funding sources with competitive pricing. In order to increase the liquidity of the corporate bond market, the MNB launched Scheme from July 1, 2019, supplementing its unconventional monetary policy tools and the fixed Growth Loan Program. The proceeds of the bonds are used to fund investments into the fixed and mobile network roll-out and modernization (including the acquisition of new frequencies). The issued bonds amounted to HUF 70 billion at face value and were purchased for a total purchase price of HUF 70.83 billion by the attendees at the closed auction on November 24, 2020. The total purchase price was transferred to the Company by the attendees on November 26, 2020. Subsequently Magyar Telekom 2027 HUF Bonds were listed on the BSE XBond multilateral trading platform on December 17, 2020 and are available for trading in the XBond platform from December 21, 2020 (first trading day).

188 The table below shows the main parameters. Bond code Magyar Telekom 2027 HUF Bond Bond expiries HUF 35 billion HUF 35 billion November 26, 2026 November 26, 2027 Interest type................................................ Fixed interest Coupon (Nominal interest rate) .............. 1.45% Yield .............................................................. 1.26% Effective interest rate ............................... 1.95% At December 31, 2022 the carrying amount of bonds HUF 68,532 million (at December 31, 2021 HUF 68,214 million). For further information see Notes 4.4.4.3 and 15. 4.4.3 Derivative financial liabilities contracted with related parties Derivatives contracted with related parties include FX forwards concluded with DT AG to cover FX needs of expected future foreign currency outflows (see more details in Notes 2.2.1, 4.5.1.1, 5.1.1.1 and 5.1.1.2). At December 31, 2022 the carrying amount of derivative financial liabilities contracted with related parties is HUF 2,035 million (at December 31, 2021 HUF 21 million). 4.4.4 Other financial liabilities 4.4.4.1 Other financial liabilities - Balances The tables below show the current and non-current balances of Other financial liabilities. 12.31.2021 12.31.2022 Frequency fees payable............................................................................ (a) 49,759 5,420 Debtor overpayment ................................................................................. 1,394 1,277 Other............................................................................................................. 831 1,040 Total other financial liabilities – current .......................................... 51,984 7,737 12.31.2021 12.31.2022 Frequency fees payable.......................................................................... (a) 106,323 101,242 Other........................................................................................................... 144 51 Total other financial liabilities – non-current ................................. 106,467 101,293 There were no defaults or breaches in connection with other financial liabilities. (a) The present value of the future annual band fees payable is recognized as part of the carrying amount of the licenses as intangible assets, with corresponding current and non-current financial liabilities. New frequency blocks were acquired in January 2021 which entitled Magyar Telekom for the usage of these from April 2022 until March 2042. A one-time spectrum fee in the amount of HUF 44.28 billion was paid for these frequency blocks in April 2022. For further information see also Notes 10.2, 10.5 and 34.2. 4.4.4.2 Proceeds/repayments of loans and other borrowings Cash proceeds/payments for related-party loans are included in the Proceeds from loans and other borrowings/Repayment of loans and other borrowings line of the Statements of cash flows.

190 Changes in cash and cash equivalents Changes that effect the cash flows from operating activities Addition to financial liabilities without cash movement Changes that effect the cash flows from investing activities Changes that effect the cash flows from financing activities Opening Balance at January 1, 2021 Proceeds from loans and borrowings Repayments of loans and other borrowings Proceeds from bonds Repayments of other financial liabilities Other Closing Balance at December 31, 2021 Related-party loans ....................................... 198,952 - (5,060) 2,511 (50) 200,754 (260,257) - - - 136,850 Derivatives from related parties................... 13 - - 742 (734) - - - - - 21 Frequency fees payable ................................ 76,084 - (3,464) 88,143 - - - - (4,681) - 156,082 Lease liabilities ............................................... 133,009 - (4,446) 27,660 - - - - (21,135) - 135,088 Bonds ............................................................... 67,904 - (1,015) 1,325 - - - - - - 68,214 Debtors overpayment.................................... 1,309 - 85 - - - - - - - 1,394 Other financial liabilities ................................ 2,521 - (180) (9) - - - - (1,357) - 975 -Less cash and cash equivalents .................. (738) (207) - - - - - - - - (945) -Less other current financial assets ............. (41,720) - (1,705) 1,288 14,722 19,161 - - - - (8,254) Net debt ...................................................... 437,334 (207) (15,785) 121,660 13,938 219,915 (260,257) - (27,173) - 489,425 Treasury share purchase ........................................................................................................................................................................................................................................................................................................ (10,215) Dividend paid ........................................................................................................................................................................................................................................................................................................................... (15,312) Net cash used in financing activities .................................................................................................................................................................................................................................................................. (93,042)

191 Changes in cash and cash equivalents Changes that effect the cash flows from operating activities Addition to financial liabilities without cash movement Changes that effect the cash flows from investing activities Changes that effect the cash flows from financing activities Opening Balance at January 1, 2022 Proceeds from loans and borrowings Repayments of loans and other borrowings Proceeds from bonds Repayments of other financial liabilities Other Closing Balance at December 31, 2022 Related party loans ........................................ 136,850 - 875 17,199 3,828 180,475 (155,006) - - - 184,221 Derivatives from related parties................... 21 - - 2,242 (228) - - - - - 2,035 Frequency fees payable ................................ 156,082 - (6,071) 4,631 - - - - (47,980) - 106,662 Lease liabilities ............................................... 135,088 - (4,245) 25,560 - - - - (19,440) - 136,963 Bonds ............................................................... 68,214 - (1,015) 1,332 - - - - - - 68,531 Debtors overpayment.................................... 1,394 - (117) - - - - - - - 1,277 Other financial liabilities ................................ 975 - 52 64 - - - - - - 1,091 -Less cash and cash equivalents .................. (945) 514 - - - - - - - - (431) -Less other current financial assets ............. (8,254) - (1,983) 2,669 3,595 1,258 - - - - (2,715) Net debt ...................................................... 489,425 514 (12,504) 53,697 7,195 181,733 (155,006) - (67,420) - 497,634 Treasury share purchase ........................................................................................................................................................................................................................................................................................................ (14,609) Dividend paid ........................................................................................................................................................................................................................................................................................................................... (15,000) Net cash used in financing activities .................................................................................................................................................................................................................................................................. (70,302)

192 4.4.5 Trade payables 12.31.2021 12.31.2022 Payables to subsidiaries .................................................................................. 10,332 5,983 Payables to other related parties .................................................................. 9,283 9,379 Payables to non-related parties..................................................................... 99,792 107,992 Total .............................................................................................................. 119,407 123,354 4.5 Additional disclosures on financial instruments 4.5.1 Financial assets and liabilities The Company classifies fair value measurements using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The fair value hierarchy has the following levels: ▪ quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) ▪ inputs other than quoted prices included within Level 1 observable for the asset or liability, either directly or indirectly (Level 2) ▪ inputs for the asset or liability that are not based on observable market data (Level 3) The level in the fair value hierarchy within which the fair value measurement is categorized in its entirety is determined on the basis of the lowest level input that is significant to the fair value measurement in its entirety. The significance of an input is assessed against the fair value measurement in its entirety. There was no transfer between Level 1 and Level 2 financial instruments. Most of the financial assets and most of the financial liabilities are measured at amortized cost, but fair value information is also provided for these. The initial fair value of the MT2027 bond was calculated based on Level 2 information as the bonds did not have an active market. The discount rate was determined based on relevant BIRS rates (Budapest Interest Rate Swap) and a margin estimation based on commercial bank offers during the auction. The fair value of financial instruments that are not traded on an active market is determined by using valuation techniques, mainly by applying the discounted cash flow method. The cash flow estimations are based on the relevant underlying contracts and the discount rates are calculated based on the interest rate benchmarks applicable for the relevant maturities and currencies (BUBOR, BIRS, EURIBOR, EUR IRS). Foreign exchange conversion is made based on central bank FX fixings (preferably that of the National Bank of Hungary). Level 2 information is available to determine derivatives assets and liabilities. Level 3 information is used for valuation of equity instruments designated as financial assets at fair value through profit or loss, and the corresponding liabilities designated as financial liability at fair value through profit or loss. The fair value is determined by applying a Black Scholes model using estimation on the terms and conditions of underlying contracts, peer group WACC and risk-free interest rate (see Note 4.2.4.2 for more information). The following tables include the carrying amounts and fair values of the Company’s financial assets and liabilities as at December 31, 2022 and 2021.

193 4.5.1.1 Financial assets – Carrying amounts and fair values Carrying amounts, fair values and fair value hierarchy of financial assets are the following: 12.31.2021 Carrying amount Fair value Amortized cost FVOCI (Level 1) FVTPL (Level 2) FVTPL (Level 3) Total Cash and cash equivalents .......................... 945 - - - 945 945 Clearing receivables from related parties 1,258 - - - 1,258 1,258 Trade receivables within one year from third parties..................................................... 117,122 - - - 117,122 117,122 Trade receivables within one year from related parties ................................................ 4,724 - - - 4,724 4,724 Trade receivables over one year................. 16,664 - - - 16,664 15,581 Derivative financial instruments contracted with related parties ................ - - 16,715 - 16,715 16,715 Loans given to related parties ..................... 1,765 - - - 1,765 1,765 Equity instruments ........................................ - 1 - 1,181 1,182 1,182 Finance lease receivable from third parties .............................................................. 476 - - - 476 429 Finance lease receivable from related parties .............................................................. 4,994 - - - 4,994 5,152 Receivables from asset-related grants ..... 3,507 - - - 3,507 3,507 Other current receivables ............................ 981 - - - 981 981 Other non-current receivables .................... 627 - - - 627 590 Total .......................................................... 153,063 1 16,715 1,181 170,960 169,951 12.31.2022 Carrying amount Fair value Amortized cost FVOCI (Level 1) FVTPL (Level 2) FVTPL (Level 3) Total Cash and cash equivalents .......................... 431 - - - 431 431 Clearing receivables from related parties - - - - - - Trade receivables within one year from third parties..................................................... 121,689 - - - 121,689 121,689 Trade receivables within one year from related parties ................................................ 7,523 - - - 7,523 7,523 Trade receivables over one year................. 19,201 - - - 19,201 16,412 Derivative financial instruments contracted with related parties ................ - - 31,723 - 31,723 31,723 Loans given to related parties ..................... 1,143 - - - 1,143 1,143 Equity instruments ........................................ - 1 - 1,288 1,289 1,289 Finance lease receivable from third parties .............................................................. 347 - - - 347 288 Finance lease receivable from related parties .............................................................. 2,647 - - - 2,647 2,133 Receivables from asset-related grants ..... 838 - - - 838 838 Other current receivables ............................ 458 - - - 458 458 Other non-current receivables .................... 478 - - - 478 397 Total .......................................................... 154,755 1 31,723 1,288 187,767 184,324

194 Fair value through profit or loss assets (Level 2) include derivatives, for further information see Note 4.2.3. The fair values of those instruments are based on a discounted cash flow method. The calculation is prepared by Magyar Telekom based on money market interest rate curves, basis swap points and spot FX rates from Reuters database published on the last working day of the reporting period. The present value of the expected future cash flows is discounted to the reporting date using money market interest rates and basis swap points in the specific currency from Reuters and exchanged to HUF using the spot FX rate. The difference between the HUF present value of the payable and receivable is accounted for as assets or liabilities. Fair value through profit or loss financial assets (Level 3) include the investment in E2 Hungary Zrt. in 2021 and 2022. Fair value through other comprehensive income financial assets (Level 1) include the insignificant investment (4.26%) in EURESCOM with no change in the fair value, nor any dividend received. The carrying values of assets measured at amortized cost with short times to maturity approximate their fair values. 4.5.1.2 Financial liabilities Carrying amounts, fair values and fair value hierarchy of financial liabilities are the following: 12.31.2021 Carrying amount Measured at amortized cost FVTPL (Level 2) FVTPL (Level 3) Total Fair value Financial liabilities to related parties ......... 136,850 - - 136,850 136,850 Derivative financial liabilities contracted with related parties ....................................... - 21 - 21 21 Trade payables to third parties ................... 99,753 - - 99,753 99,753 Trade payables to related parties .............. 19,653 - - 19,653 19,653 Frequency fee payable ................................. 156,082 - - 156,082 145,425 Lease liabilities to third parties ................... 126,490 - - 126,490 125,103 Lease liabilities to related parties............... 8,596 - - 8,596 7,846 Bonds ............................................................... 68,214 - - 68,214 58,070 Debtors’ overpayment .................................. 1,394 - - 1,394 1,394 Other current liabilities ................................. 831 - - 831 831 Other non-current liabilities ........................ - - 144 144 144 Total .......................................................... 617,863 21 144 618,028 595,090

195 12.31.2022 Carrying amount Measured at amortized cost FVTPL (Level 2) FVTPL (Level 3) Total Fair value Financial liabilities to related parties ......... 184,221 - - 184,221 185,697 Derivative financial liabilities contracted with related parties ....................................... - 2,035 - 2,035 2,035 Trade payables to third parties ................... 107,956 - - 107,956 107,956 Trade payables to related parties .............. 15,398 - - 15,398 15,398 Frequency fee payable ................................. 106,662 - - 106,662 67,122 Lease liabilities to third parties ................... 131,530 - - 131,530 108,615 Lease liabilities to related parties............... 5,434 - - 5,434 4,472 Bonds ............................................................... 68,531 - - 68,531 45,622 Debtors’ overpayment .................................. 1,277 - - 1,277 1,277 Other current liabilities ................................. 1,040 - 1,040 1,040 Other non-current liabilities ........................ 50 - - 50 47 Total .......................................................... 622,099 2,035 - 624,134 539,281 See additional fair value information on financial liabilities in Note 4.4.1. The carrying values of the current financial liabilities measured at amortized cost approximate their fair values. 4.5.1.3 Financial liabilities carried at fair value determined using Level 3 type information Financial instruments which are carried at fair value where the fair value was determined using Level 3 type information is the liability pertaining to the call option under IFRS 9 (see Note 4.5.1). The table below includes the movements of this liability. 2021 2022 Opening balance at January 1 .......................................................................................... 130 144 Increase arising on call option ..................................................................................................... - - (Gains) or losses for the period on remeasurement................................................................ - - - recognized in profit or loss (net financial result)................................................................... 14 (9) Closing balance at December 31 ..................................................................................... 144 135

196 4.5.2 Items of net gains and losses arising on financial instruments The tables below include net gains/losses arising on financial instruments in 2021 and 2022. 2021 From subsequent measurement From Interest Change in fair value FX gain/ (loss) Impair- ment loss From fee expense Total net gain / (loss) FVTPL financial instruments (Level 2) ............................................... - 6,972 - - - 6,972 FVTPL financial instruments (Level 3) ............................................... - (13) - - - (13) Financial assets measured at amortized cost.................................... 614 - (698) (9,837) (4,875) (14,796) Financial liabilities measured at amortized cost.................................... (13,188) - (986) - (49) (14,223) Equity instruments measured at FVTPL (Level 3) .................................. - (12) - - - (12) Net gain/(loss) on financial instruments .................................... (12,574) 6,947 (1,684) (9,837) (4,924) (22,072) 2022 From subsequent measurement From Interest Change in fair value FX gain/ (loss) Impair- ment loss From fee expense Total net gain / (loss) FVTPL financial instruments (Level 2) ............................................... - 20,450 - - - 20,450 FVTPL financial instruments (Level 3) ............................................... - 9 - - - 9 Financial assets measured at amortized cost.................................... 1,874 - (1,571) (6,814) (4,842) (11,353) Financial liabilities measured at amortized cost.................................... (18,257) - (21,622) - (29) (39,908) Equity instruments measured at FVTPL (Level 3) .................................. - 107 - - - 107 Net gain/(loss) on financial instruments .................................... (16,383) 20,566 (23,193) (6,814) (4,871) (30,695) The tables above include the amounts before capitalization of borrowing costs (See Note 24). Impairment losses on Financial assets measured at amortized cost includes all expenses incurred or expected to be incurred in relation to the default of customers and presented as a direct cost in the Statement of profit or loss and other comprehensive income. The amount of Fee expense is mainly connected to transactional fees on financial realization of income (like white check acceptance fee of Hungarian Post, VPOS relevant cost and other various commissions) and other bank charges type fees. 4.5.3 Offsetting financial assets and financial liabilities For the financial assets and liabilities subject to enforceable netting arrangements, each agreement between the Company and the counterparty (typically roaming and interconnect partners) allows for net settlement of the relevant trade receivable and payable. The following trade receivables and trade payables are subject to offsetting agreements and are presented after netting in the Statements of financial position.

197 12.31.2021 12.31.2022 Trade receivables Trade payables Trade receivables Trade payables Gross amounts of recognized financial instruments .......... 122,038 119,599 130,372 124,514 Gross amounts of financial instruments set off ................... (192) (192) (1,160) (1,160) Net amounts of recognized financial instruments presented in the statements of financial position ........... 121,846 119,407 129,212 123,354 4.5.4 Other disclosures about financial instruments Magyar Telekom is also exposed to risks that arise from the possible drawdown of guarantees that in aggregation amounted to a nominal amount of HUF 16.4 billion as at December 31, 2022 (2021: HUF 14.7 billion). In January 2021, Magyar Telekom successfully participated in the auction procedure for the entitlements of frequency use of the 900 MHz and 1800 MHz frequency bands, the precondition of this was the issuance of additional guarantees. Due to the payment of the one-time spectrum fee in April 2022, these guarantees are not applicable. The guarantees were issued by banks on behalf of Magyar Telekom as collateral to secure the fulfillment of the Company’s certain contractual or tender related obligations. The Company has been doing its best to deliver on its contractual obligations and expects to continue to do so in the future. Even so disputes may emerge from time to time with the partners and sometimes these can result in the drawdown of the guarantees. These utilizations of the bank guarantees are not related and have no significant effect on the solvency of the Company. For more information see note 4.4.4.1. Magyar Telekom does not hold any material collateral of its financial assets. All financial assets transferred met the criteria of derecognition. The Company does not have compound financial instruments with multiple embedded derivatives. 5 FINANCIAL RISK MANAGEMENT 5.1 Financial risk factors Magyar Telekom is primarily exposed to credit risks related to its financial assets. In addition, the Company is also exposed to risks from movements in exchange rates interest rates that affect the fair value and/or the cash flows arising from financial assets and liabilities. Financial risk management aims to limit these risks through ongoing operational and finance activities. Selected derivative and non-derivative hedging instruments are also used for this purpose, depending on the risk assessment. Magyar Telekom only hedges the risks that affect the Company’s cash flows, no hedges are concluded to hedge fair values. Derivatives are exclusively used as hedging instruments, i.e., not for trading or other speculative purposes. To reduce the counterparty risk, derivatives are generally only concluded with leading Hungarian or international financial institutions or Deutsche Telekom. Nevertheless, hedge accounting is not applied to such transactions. The detailed descriptions of risks, the management thereof as well as sensitivity analyses are provided below. These sensitivity analyses calculate with reasonably possible changes in the relevant risk variables and their impact on profit before tax. The impacts disclosed below for the reported periods are subject to an average effective income tax rate of approximately 25%, i.e. the impact on Profit for the period would be approximately 75% of the pre tax amount in a year that is free from significant one-off non-deductible pre-tax impacts and significant changes in tax legislation. The potential impacts disclosed (less tax) would be the same on the Company’s Equity. There were no major changes in these risks compared to the previous reporting period.

198 5.1.1 Market risk Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: ▪ foreign currency risk ▪ interest rate risk ▪ price risk. The fundamentals of Magyar Telekom’s financing strategy are established each year by the Board of Directors. The Company’s policy is to borrow centrally using a balanced combination of medium-term and short-term loans, and fixed and floating interest rates on those liabilities. The Board of Directors has approved two debt protection ratio KPIs, and monitors their fulfillment annually. At the end of 2022 Magyar Telekom Group fulfilled both criteria; Total Debt to EBITDA ratio of 1.98 in 2022 (2021: 2.15), while the allowed maximum can be 2.8 and EBITDA to Net financial result ratio of 9.99 in 2022, (2021: 17.58), while the allowed minimum can be 3.0. The Company during the implementation of the finance policy and ongoing financial risk management, determines and continuously monitors the foreign exchange, liquidity and counterparty risk management guidelines. Magyar Telekom is exposed to interest and foreign exchange (FX) rate risk associated with its interest-bearing assets and liabilities and anticipated transactions. The functional currency of Magyar Telekom is HUF, consequently, Magyar Telekom’s objective is to minimize the level of its financial risk applying HUF terms. For the presentation of market risks, sensitivity analyses are also provided that show the effects of hypothetical changes of relevant risk variables on Profit before tax and Equity. These hypothetical changes were modeled to present a reasonably possible change in the relevant risk variables. The periodic effects are determined by relating the hypothetical changes in the risk variables to the balance of financial instruments at the end of the latest reporting period (2022) and the preceding reporting period (2021). The balances at the end of the reporting period are usually representative for the year as a whole; therefore, the impacts are calculated using the year end balances. The methods and assumptions used in the sensitivity calculations did not change significantly compared to the previous period. As a result of a volatile international capital and securities markets, higher fluctuations of the FX and interest rates are also possible. 5.1.1.1 Foreign currency risk Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in FX rates. Currency risks arise on financial instruments denominated in currencies other than the functional currency of the Company. Relevant risk variables are generally all non-functional currencies in which Magyar Telekom has financial instruments. The Hungarian Forint depreciated by approx. 8% against the euro in 2022. In 2020 and 2021 the forint was fluctuating in a 7-12% range against the EUR, in 2022 this range widened significantly to approx. 23%. In order to mitigate FX risk in the case of FX denominated financial instruments, Magyar Telekom minimized its foreign currency borrowings in the past years or covered them with derivative instruments to substantially reduce FX risk. The corporate bond is HUF denominated and thus no foreign currency exposure arises related to this instrument. FX risks arising on loans and related swaps with DT AG Several related-party loans taken to finance general corporate needs from Deutsche Telekom AG (DT AG) are denominated in EUR, while, at the same time, cross-currency interest rate swaps are concluded with Deutsche Telekom AG to fix the actual cash flows of Magyar Telekom in HUF. Even though the Company does not apply hedge accounting, the change in the HUF/EUR exchange rate has limited (net) impact on profit or loss and equity related to the hedged loans and the swaps together.

199 The table below shows the breakdown by currency of loans taken from DT AG: Currency 12.31.2021 12.31.2022 HUF ................................................................................................. - 20,000 EUR ................................................................................................. 119,925 130,082 Total ....................................................................................... 119,925 150,082 Sensitivity analysis A reasonably possible strengthening or weakening of the EUR in the table below against HUF as at December 31 would have affected the measurement of loans denominated in a foreign currency and increased (+)/ decreased (-) equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sales and purchases. As the profit or loss effect would be the same as the equity effect, only the former is disclosed. Profit or loss Strengthening Weakening 12.31.2021 EUR/HUF (10% movement) Loan ............................................................................................................. (11,993) 11,993 Swap agreements ..................................................................................... 12,242 (12,242) Net effect......................................................................................... 249 (249) 12.31.2022 EUR/HUF (20% movement) Loan ............................................................................................................. (26,016) 26,016 Swap agreements ..................................................................................... 26,399 (26,399) Net effect......................................................................................... 383 (383) Other FX exposure The Company’s remaining FX exposure is mostly related to (i) cash balances held by the Company in foreign currency, and (ii) operating activities through revenue from, and payments to, international telecommunications operators as well as (iii) capital and operating expenditure contracted with vendors in foreign currency. In line with currency hedging policy, the Company holds sufficient amounts of foreign currencies on its bank accounts or buys foreign currencies through FX forward transactions, the amounts of which are determined considering the balance of short-term FX denominated trade and leases payables and trade receivables in the next period in order to hedge the currency risk arising in connection with those assets and liabilities. The Company’s foreign currency (EUR and USD) denominated liabilities (other than the above described loans) exceed the Company’s foreign currency (EUR and USD) denominated assets, therefore changes in the functional currencies’ exchange rates would have impact on the profit of the Company. The following tables show the breakdown by currency of finance lease receivables, lease liabilities, trade payables and cashpool receivables and liabilities: 12.31.2021 in HUF million EUR USD GBP HUF Other Total finance lease receivables .. 5,078 56 - 337 - Total lease liabilities..................... 50,733 60 - 84,295 - Trade payables .............................. 48,383 3,021 21 67,969 13 Cashpool receivables ................... - - - 1,258 - Cashpool liabilities ....................... 1,895 (2,463) - 16,156 -

200 12.31.2022 in HUF million EUR USD GBP HUF Other Total finance lease receivables.... 2,707 31 - 256 - Total lease liabilities....................... 51,668 37 - 85,259 - Trade payables ................................ 48,043 1,325 10 73,956 21 Cashpool liabilities ......................... 608 (120) - 25,743 - 94% of trade receivables is denominated in HUF and 6% are in EUR as of December 31, 2022 (2021: 94% in HUF and 6% in EUR). In order to reduce the above exposure, Magyar Telekom occasionally enters into derivative contracts. The negative fair value of the open short-term forward positions was HUF 0.9 billion (liability) as of December 31, 2022 (2021: HUF 0.2 billion asset). These positions were opened to mitigate the FX risks of future FX payments exceeding FX income. Sensitivity analysis A reasonably possible strengthening or weakening of the currencies in the table below against HUF as at December 31 would have affected the measurement of financial instruments denominated in a foreign currency and increased (+)/ decreased (-) equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sales and purchases. As the profit or loss effect would be the same as the equity effect, only the former is disclosed. Profit or loss Strengthening Weakening 12.31.2021 EUR/HUF (10% movement) Net balance of current FX trade and lease payables, trade and financial receivables plus bank deposits................................................ (5,032) 5,032 Connected forward deals ............................................................................ 4,356 (4,356) Net effect............................................................................................. (676) 676 USD/HUF (15% movement) Net balance of current FX trade and lease payables, trade and financial receivables plus bank deposits.................................................. (74) 74 Connected forward deals ............................................................................ 722 (722) Net effect............................................................................................. 648 (648) 12.31.2022 EUR/HUF (20% movement) Net balance of current FX trade and lease payables, trade and financial receivables plus bank deposits................................................. (9,681) 9,681 Connected forward deals ............................................................................ 5,524 (5,524) Net effect............................................................................................. (4,157) 4,157 USD/HUF (40% movement) Net balance of current FX trade and lease payables, trade and financial receivables plus bank deposits.................................................. (482) 482 Connected forward deals ............................................................................ 1,553 (1,553) Net effect............................................................................................. 1,071 (1,071)

201 As a result of the volatile international money markets, even a more than 20% fluctuation of the functional currency HUF against EUR and a more than 40% against USD is possible as extraordinary market conditions may cause extreme volatility on FX markets. 5.1.1.2 Interest rate risk Magyar Telekom is also exposed to interest rate fluctuations: BUBOR, ESTR, EURIBOR, SOFR and USD LIBOR. This is due to the fact that changing interest rates affect the fair value of the fixed-rate instruments and also affect the cash flows through the floating rate instruments. Changes in the market interest rates of non-derivative financial instruments with fixed interest rates does not affect Profit for the period because none of them are measured at fair value through profit or loss. On the other hand, all financial instruments with fixed interest rates which are carried at amortized cost are not subject to cash flow interest rate risk as defined in IFRS 7. Changes in the market interest rate of interest rate derivatives (interest rate swaps, cross-currency swaps) that are not part of a hedging relationship as set out in IFRS 9 affect Other finance expense - net (net gain/loss from re-measurement of the financial assets and liabilities to fair value). Changes in market interest rates affect the interest income or expense of non-derivative floating-interest financial instruments for which no cash flow hedges are in place. Financial assets Excess cash of the Company’s Hungarian operations is primarily used to repay loans, so it has no significant bank deposits. Financial liabilities Financial liabilities exposed to interest rate risk are primarily the related-party (DT AG) and the related swap agreements in place. These loans are almost exclusively taken by the Company as the financing of the Company is managed centrally. The analysis below describes the Company’s net exposure to the net interest rate risks related to the loans and the related swap agreements. As the vast majority of the debt portfolio is denominated in HUF, or swap agreements are in place so that the loans payable are exposed to changes in HUF interest rates, the Company is mostly exposed to the HUF interest rate fluctuations for its financial liabilities. To control this interest rate risk, a combination of fixed and floating rate debt is used. Fixed interest-bearing debts (including loans swapped to fixed interest and excluding loans swapped to floating interest) made up 74% of the Company’s total debt as of December 31, 2022 (2021: 76%). Cash flow sensitivity analysis for variable rate instruments Floating interest-bearing debts (including loans swapped to floating interest and excluding loans swapped to fixed interest) made up 26% of the Company’s total debt as of December 31, 2022 (2021: 24%). A reasonably possible change of 200 basis points in interest rates at the reporting date would have increased (decreased) equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular foreign currency exchange rates, remain constant. As the profit or loss effect would be the same as the equity effect, only the former is disclosed. Profit or loss 300 bp increase 300 bp decrease 12.31.2021 Floating rate instruments..................................................................... (4,221) 4,221 Interest rate swap .................................................................................. 2,712 (2,712) Cash flow sensitivity (net) ........................................................... (1,509) 1,509

202 Profit or loss 200 bp increase 200 bp decrease 12.31.2022 Floating rate instruments..................................................................... (3,291) 3,291 Interest rate swap .................................................................................. 1,961 (1,961) Cash flow sensitivity (net) ........................................................... (1,330) 1,330 The Company’s exposures to interest rates on loans, cashpool liabilities and swaps: 12.31.2021 12.31.2022 Interest rates Loans from DT AG and subsidiaries, Cashpool liabilities Swaps Loans from DT AG and subsidiaries, Cashpool liabilities Swaps BUBOR .......................... 16,456 - 31,632 - EURIBOR/ESTR ........... 122,669 (90,405) 131,422 (98,061) USD LIBOR/SOFR........ 1,579 - 1,510 - Total ........................... 140,704 (90,405) 164,564 (98,061) For further information on loans see Note 4.4.1. 5.1.2 Credit risk Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The maximum exposure to credit risk as at the end of the reporting period are represented by the carrying amounts of the financial assets in the Statements of financial position. Guarantee agreements reducing the maximum exposure to credit risk as at the end of the reporting period are described later in this section. The vast majority of credit risks may arise in respect of Cash and cash equivalents, Bank deposits with original maturities over three months and Trade receivables, most of which have short-term maturities. To decrease counterparty risk and optimize financing costs Magyar Telekom uses the generated cash for repayment of the loans and borrowings and in this way, it does not hold significant bank deposits. The cash held on the bank account is primarily related to daily liquidity needs and not to investment purposes. Additionally, Magyar Telekom keeps bank accounts only with substantial credit institutions to further limit counterparty risk. Concentrations of credit risk relating to trade receivables are limited due to the large number of customers comprising the Company's customer base and their dispersion across many different geographic areas and industries. Credit risks are taken into account through individual allowances and allowances calculated at portfolio level. The annual impairment losses of the Company in 2022 was 1.1% (2021: 1.8%) of revenue. For further information see Notes 3.3. and 4.2.2.2. There are varying credit checking practices applied as described below. Credit checking at the time of the service request is carried out automatically by the credit checking application. A variety of checks including checking the bankruptcy list, the internal database of risky installation locations, the collection history of the past six months, the outstanding debt and the joint database of debtors of the Hungarian mobile operators are performed depending on the service to be used. The Fraud Detecting System monitors extreme usage and fraudulent behavior of customers for mobile, fixed-line and Internet services. In the case of business customers, account managers check if the customer has outstanding debts. Dunning procedures are run automatically by the billing systems and include various reminder tools like SMS, reminder message via Telekom APP, telephone calls, reminder letters, restricted service, termination letters and disconnections. In

203 the case of medium and large enterprises the dunning process starts manually (first reminder letter). After the first step, this process is also automated. Based on the effective laws and regulations and over a minimum overdue amount the Company applies varying and customized reminder procedures with specific deadlines to the different customer groups. After the termination of the contract and depending on the expected success of the process, the Company combine the different collection steps of involving external partners, selling the outstanding debt or initiating legal proceedings. All parts of the process are regulated by internal directives. For further information see Note 4.1.1. 5.1.3 Liquidity risk Liquidity risk is the risk that an entity may encounter difficulty in meeting obligations associated with financial liabilities. Prudent liquidity risk management implies maintaining sufficient Cash and cash equivalents and Bank deposits as well as available funding through an adequate amount of committed credit lines. The Company’s finance management aims to maintain flexibility in funding by keeping committed credit lines available. The undrawn bank credit lines amounted to HUF 45.5 billion as at December 31, 2022 (2021: HUF 43.5 billion). The following two tables summarize the maturity structure of Magyar Telekom’s financial liabilities including the interest payable on those liabilities (undiscounted amounts) as of December 31, 2022 and 2021. The majority of the financial liabilities are financed from the short-term loan facilities received from DT AG that were taken to finance working capital and daily ongoing activities. Management believes that short-term liabilities from DT AG will be refinanced in a similar manner to previous years. Financing needs will also be covered by cash flows generated by operating activities and third-party credit line facilities. Therefore, the maturity analysis of the financial assets as at the end of the reporting periods (in comparison with the financial liabilities) would not be useful, therefore, is not included in the following tables. 12.31.2021 Total within 1 year 1 to 5 years after 5 years Trade payables to third parties ................................... 99,753 99,753 - - Trade payables to related parties .............................. 19,653 19,653 - - Financial liabilities to related parties ......................... 138,786 46,678 92,108 - Derivative financial liabilities contracted with related parties ................................................................ 21 21 - - Lease liabilities to third parties ................................... 151,546 24,852 66,595 60,099 Lease liabilities to related parties .............................. 9,193 1,497 7,678 18 Bonds ............................................................................... 73,797 1,015 38,167 34,615 Frequency fees payables ............................................. 199,103 54,447 35,885 108,771 Other financial liabilities............................................... 2,273 2,129 144 - Total cash outflows ................................................. 694,125 250,045 240,577 203,503 Open swap positions’ cash flows Gross cash inflow in EUR million................................. 251 1 250 - Gross cash inflow in HUF million (at spot rate) ....... 92,619 369 92,250 - Gross cash outflow in HUF million.............................. 86,974 1,910 85,064 - Net cash inflow / (outflow) in HUF million............. 5,645 (1,541) 7,186 - Open forward positions’ cash flows Gross cash inflow in EUR million................................. 198 198 - - Gross cash inflow in USD million ................................ 15 15 - - Total gross cash inflow in HUF million (at spot rate) ................................................................................. 77,948 77,948 - - Gross cash outflow in HUF million.............................. 78,542 78,542 - - Net cash inflow / (outflow) in HUF million............. (594) (594) - -

204 The average maturity of Magyar Telekom’s debt portfolio was 2.22 years as at December 31, 2022 (2021: 3.07 years). The floating interest payments arising from the financial instruments were calculated using the last interest rates fixed before December 31, 2022 and 2021. Actual cash flows may be different if the floating interest rate changes in future periods. For further information see Note 4.4.1. 5.2 Capital management The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimum capital structure to reduce the cost of capital. The Company’s management proposes to the owners (through the Board) of the Company to approve dividend payments or adopt other changes in the Company’s equity capital in order to optimize the capital structure of the Company. This can be achieved primarily by adjusting the amount of dividends paid to shareholders, or alternatively, by returning capital to shareholders by capital reductions, selling or buying own shares. In 2022 the Board of Directors of Magyar Telekom approved HUF 15,000 million dividend (HUF 15,311 million dividend in 2021), and the Company’s Board recommends to declare a HUF 29,459 million dividend at the April 2023 Annual General Meeting. In addition to the above, according to the Hungarian Civil Code (2013. V.), Magyar Telekom has to ensure that the Company’s Equity in the Separate Financial Statements does not fall below two thirds of its Common stock, i.e. the total of the reserves should not be negative. The Company is in compliance with this regulation. The equity capital, which the Company manages, amounted to HUF 666 billion on December 31, 2022 (2021: HUF 636 billion), see Note 16. 12.31.2022 Total within 1 year 1 to 5 years after 5 years Trade payables to third parties ................................... 107,956 107,956 - - Trade payables to related parties .............................. 15,398 15,398 - - Financial liabilities to related parties ......................... 193,839 91,333 102,506 - Derivative financial liabilities contracted with related parties ................................................................ 2,035 2,035 - - Lease liabilities to third parties ................................... 158,151 28,763 69,661 59,727 Lease liabilities to related parties .............................. 5,967 1,402 4,553 12 Bonds ............................................................................... 73,099 1,015 72,084 - Frequency fees payables ............................................. 144,995 9,588 35,153 100,254 Other financial liabilities............................................... 2,288 2,223 65 - Total cash outflows ................................................. 703,728 259,713 284,022 159,993 Open swap positions’ cash flows Gross cash inflow in EUR million................................. 264 8 256 - Gross cash inflow in HUF million (at spot rate) ....... 105,666 3,202 102,464 - Gross cash outflow in HUF million.............................. 85,064 1,910 83,154 - Net cash inflow / (outflow) in HUF million............. 20,602 1,292 19,310 - Open forward positions’ cash flows Gross cash inflow in EUR million................................. 150 150 - - Gross cash inflow in USD million ................................ 11 11 - - Total gross cash inflow in HUF million (at spot rate) ................................................................................. 64,170 64,170 - - Gross cash outflow in HUF million.............................. 67,805 67,805 - - Net cash inflow / (outflow) in HUF million............. (3,635) (3,635) - -

205 6 INCOME TAXES 6.1 Income taxes – accounting policies Income tax expense comprises current and deferred tax. It is recognized in Profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity or in other comprehensive income. 6.1.1 Current taxes Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable or receivable in respect of previous years. The amount of current tax payable or receivable is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. It is measured using tax rates enacted or substantively enacted at the reporting date. Current tax also includes any tax arising from dividends. Current tax assets and liabilities are offset only if certain criteria are met. Income taxes are comprised of corporate income taxes, trade tax and other income taxes. 6.1.1.1 Corporate income taxes Corporate income taxes are payable to the central tax authorities. The basis of the tax is the taxable entities’ accounting profit adjusted for non-deductible and non-taxable items. The withholding tax relating to the dividend received is also reported in corporate income taxes. From January 1, 2017 a flat corporate income tax rate of 9% has been enacted. 6.1.1.2 Trade tax and other income taxes Trade tax is a local tax levied in Hungary on the companies’ net margins, usually determined at a substantially higher level than the corporate tax base but applying a significantly lower tax rate. Other income taxes include innovation fee calculated similarly to trade tax but with a lower rate and it is to be paid to the state budget. 6.1.2 Deferred taxes Deferred tax is recognized on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the Separate statement of financial position. Deferred tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction (other than a business combination) that at the time of the transaction affects neither accounting nor taxable profit. Deferred tax is determined using income tax rates that have been enacted or substantively enacted by the financial statement date and are expected to apply when the related deferred tax asset is realized or the deferred tax liability is settled. Deferred tax assets are recognized to the extent that it is probable that future taxable profit (or reversing deferred tax liabilities) will be available against which the temporary differences can be utilized. 6.2 Income taxes in the Statements of profit or loss and other comprehensive income The table below shows the income tax expenses charged in the Profit for the period. Income tax expense 2021 2022 Corporate income tax .............................................................................................. 2,032 1,627 Trade tax ..................................................................................................................... 7,428 7,944 Other income taxes .................................................................................................. 1,142 1,254 Deferred tax expense ............................................................................................... 3,266 3,306 Total ............................................................................................................... 13,868 14,131

206 6.2.1 Tax expense reconciliation The reconciliation between the reported income tax expense and the theoretical amount arising from applying the statutory income tax rates is as follows. 2021 2022 Profit before income tax ............................................................................... 68,412 73,660 Calculated amount of tax 9% ...................................................................... (a) (6,157) (6,629) 1304 Tax shield of items not subject to income tax .......................................... (b) 640 1,304 Tax impact of non-deductible items .......................................................... (c) (561) (462) Trade tax .......................................................................................................... (d) (7,428) (7,944) Other income taxes ....................................................................................... (d) (1,142) (1,254) Impact of tax deductibility of trade and other income taxes................ (e) 771 828 Investment tax credit accretion .................................................................. (f) 9 26 Income tax expense ............................................................................ (13,868) (14,131) Effective tax rate ............................................................................................ 20.27% 19.18% For explanations (a)-(f) see as follows. (a) The applicable tax rate used in the below reconciliation is the domestic standard rate of corporate tax in Hungary 9% in 2022 (2021: 9%). (b) This line of the reconciliation primarily includes the tax shield impact of expenses, which are not included in the profit before tax, but deductible when determining the separate corporate income tax base. These items include the depreciation of assets (or additional values of assets) which are not included in the assets of the statements of financial position, and which are not considered in the deferred tax calculation. (c) This line of the reconciliation includes the negative tax impact of the expenses included in the profit and loss, but non- deductible when determining the corporate income tax base. These items primarily include the non-deductible receivable impairment and write-downs and penalties. (d) Trade tax and other income taxes include certain local and central taxes levied in Hungary. Trade tax and the innovation tax, levied in Hungary on the companies’ net margins, determined usually at a substantially higher level than the corporate tax base, but with substantially lower tax rates (max 2%). As the first line of the reconciliation calculates theoretical tax expense calculated using the corporate tax rate, the trade tax and the innovation fee impose additional income tax expenses on the Company, included in this line of the reconciliation. (e) Trade tax and innovation fee are deductible expenses for corporate tax purposes, the positive tax impact of which is included in this line of the reconciliation. (f) Investment tax credit accretion includes the increase of the net present value of the investment tax credit deriving from the utilization of the tax credits in periods subsequent to the year of recognition. For further information see Note 6.3.2.1. 6.3 Income taxes in the Statements of financial position 6.3.1 Current taxes in the Statements of financial position Current tax assets and liabilities in the Statements of financial position represent the amount of corporate and other income taxes receivable from, and payable to the Hungarian tax authorities.

207 6.3.2 Deferred taxes in the Statements of financial position Magyar Telekom's deferred tax balances are as follows: Balance at December 31, 2020 Effect on profit Other movements Balance at December 31, 2021 Effect on profit Other movements Balance at December 31, 2022 Deferred tax assets and (liabilities) Investment tax credits (Note 6.3.2.1) ........... 502 (4,258) 4,642 886 (3,207) 6,052 3,731 Impairment of receivables and inventory ..... 1,143 173 - 1,316 86 - 1,402 PPE and intangible assets ................................ (6,305) 575 - (5,730) (123) - (5,853) Goodwill ............................................................... (14,481) - - (14,481) - - (14,481) Provisions for liabilities and charges.............. 1,446 245 - 1,691 (62) - 1,629 Total net deferred tax .................................. (17,695) (3,265) 4,642 (16,318) (3,306) 6,052 (13,572) Of which deferred tax liabilities ...................... (20,786) (20,211) (20,334) Of which deferred tax assets ........................... 3,091 3,893 6,762 The Other movements column includes the increase in investment tax credit relating to energy efficiency improvement recognized in 2022 and 2021. Deferred tax assets arising from investment tax credits are recognized against the capitalized cost of the related asset acquisition. Temporary differences associated with investments in subsidiaries for which deferred tax liabilities or assets have not been recognized amounted to a net liability of HUF 20,799 million at December 31, 2022 (HUF 20,799 million was the temporary difference not recognized at December 31, 2021). Deferred tax liability on goodwill is related to the goodwill arising from the acquisition of subsidiaries (Emitel Zrt. and T- Mobile) in the Company’s Separate Financial Statements, which had merged into Magyar Telekom. The amortization of goodwill is a tax-deductible expense in corporate income tax, while under IFRSs there is no amortization accounted in the books. The difference deriving from the two types of accounting is represented by the deferred tax liability. 6.3.2.1 Investment tax credits Since 2020 Magyar Telekom have accomplished a new tax credit program in order to increase energy effectiveness. In order to utilize these tax credits, the Company had to meet certain audit requirements set out in the relevant tax regulations and independent external auditors stated that the investments fulfill the criteria of energy effectiveness. The investment tax credit is booked as a decrease from the investment costs of the assets, as well as a deferred tax asset of the whole tax credit amount is booked accordingly. The Company utilizes HUF 3,237 million tax credit in the 2022 corporate tax return, while the remaining HUF 3,731 million tax credit remains as deferred tax asset in the Company’s books. The Company expects that the tax credit carried forward can be utilized in the 2023 corporate tax return. The following table shows the details of the energy saving investment tax credits as of December 31, 2022: Earned in year Amount of qualifying investment Amount of tax credit earned Accretion recognized in tax expense Tax credit utilized Tax credit carried forward 12.31.2022 Expires in year 2020 7,650 2,752 9 (2,761) - 2025 2021 12,614 4,642 26 (4,668) - 2026 2022 15,529 6,052 - (2,321) 3,731 2027 Total 35,793 13,446 35 (9,750) 3,731 In order to utilize the tax credits and certain tax deductibility opportunities earned by the Company, they had to comply

208 with strict requirements as set out in the relevant tax regulations. The Company fulfilled all requirements connecting energy effective investment programs. 6.4 Income taxes in the Statements of cash flows The Company classifies its tax settlement of energy saving investment tax credit as an investing activity in the Statements of cash flows. The table below shows how the total cash flows from income tax are allocated over the activities: Activities in the Statements of Cash Flows 2021 2022 Cash flows from operating activities (presented on the line income tax paid) ............. (11,724) (15,640) Cash flows from investing activities (investment tax credit utilized in the tax report) 2,249 4,264 Cash flows from financing activities ...................................................................................... - - Total cash flows from income tax ................................................................................ (9,475) (11,376) Magyar Telekom has been doing investments relating to energy saving since 2020, based on this the payment of the reduced income tax was settled in 2021 and 2022. 6.5 Tax reviews The tax authorities may at any time inspect the books and records within five years from the end of the year when tax declarations were submitted and may impose additional tax assessments with penalties and penalty interest. Management is not aware of any circumstances which may give rise to a potential material liability in this respect. 6.6 Dividends paid by Magyar Telekom The dividends paid and payable by Magyar Telekom to its owners may be subject to withholding or income taxes of the owners, which do not have any impact on the amount of the dividend declared or on the Company’s tax expense as these taxes – if any – are levied on the owners. 7 INVENTORIES 7.1 Inventories – Accounting policies Inventories are stated at the lower of cost or net realizable value using the historical cost method of accounting and are valued on a weighted average basis. The cost of inventories comprises all costs of purchase, cost of construction and other costs incurred in bringing the inventories to their present location and condition. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Impairment losses on Inventories are recognized in Other operating expenses. 7.2 Inventories in the statements of financial position 12.31.2021 12.31.2022 Inventory for resale .................................................................................................... 12,620 18,904 Other inventory ........................................................................................................... 596 511 Subtotal ........................................................................................................... 13,216 19,415 Impairment................................................................................................................... (2) - Total ................................................................................................................. 13,214 19,415

209 The Company has no inventory pledged as security as at December 31, 2021 or December 31, 2022. The impairment and its reversal are not significant therefore no impairment movement table is presented. 8 ASSETS AND LIABILITIES HELD FOR SALE 8.1 Assets and liabilities held for sale – Accounting policies An asset (typically properties and closely related other assets) is classified as held for sale if it is no longer needed for the future operations of the Company, and has been designated for sale, which is highly likely to take place within 12 months, and the asset is available for immediate sale in its present condition, subject only to terms that are usual and customary for sales of such assets. These assets are measured at the lower of their carrying amount and fair value less cost of disposal. Depreciation is discontinued from the date of designation to the held-for-sale status. When an item of PPE or intangible assets is designated for sale, and the fair value less cost of disposal is determined to be lower than the carrying amount, the difference is recognized in the Profit for the period (Depreciation and amortization) as an impairment loss. If the requirements for the classification of assets as held for sale are no longer met, the assets may no longer be shown as held for sale. The assets are to be measured at the lower of the carrying amount that would have applied if the asset had not been classified as held for sale, and the recoverable amount at the date at which the requirements for the classification as held for sale are no longer met. 8.2 Assets held for sale in the statement of financial position The assets and liabilities classified as held for sale are disclosed below. 12.31.2021 12.31.2022 Property, plant and equipment ................................................................. 115 - Total assets held for sale .................................................................. 115 - 9 PROPERTY, PLANT AND EQUIPMENT (PPE) 9.1 PPE – Accounting policies Property, plant and equipment are measured at historical cost less accumulated depreciation and any accumulated impairment losses. The cost of an item of PPE comprises its purchase price, including import duties and non-refundable purchase taxes, after deducting trade discounts and rebates, any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. The initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located is also included in the costs if the obligation incurred is recognized as a provision according to IAS 37 (see Note 13). Government grants relating to the purchase of PPE are deducted from the original cost of the items and are recognized in the Profit for the period through the reduced amount of depreciation of the related assets over their useful lives. Investment tax credits relating to qualifying investment projects (Note 6.3.2.1) are also recognized in this manner. Cost, in the case of telecommunications equipment, comprises all expenditures including the cabling within customers' premises and borrowing costs of related loans and corporate bonds. Subsequent expenditure on an asset that meets the recognition criteria to be recognized as an asset or an addition to an asset is capitalized, while maintenance and repairs are charged to expense when incurred. When assets are scrapped, the cost and accumulated depreciation are removed from the accounts and the loss is recognized in the Profit for the period (Depreciation and amortization).

210 When assets are sold, the cost and accumulated depreciation are removed from the accounts and any related gain or loss is recognized in the Profit for the period (Other operating income/expense). Depreciation is calculated on a straight-line basis from the time the assets are deployed and charged over their economic useful lives. On an annual basis, Magyar Telekom reviews the useful lives and residual values for consistency with current development plans and advances in technology. For further details on the groups of assets impacted by the most recent useful life revisions refer to Note 9.3. In addition to the regular revisions, any investment decisions made throughout the year may also result in a change of useful life of a group of assets in any period of the year. The estimated useful lives assigned to different classes of property, plant and equipment are as follows: Years Buildings .................................................................................................................................................... 5-50 Duct, cable and plant .............................................................................................................................. 3-38 Other telecommunications equipment ............................................................................................... 2-25 Other equipment...................................................................................................................................... 2-50 Useful lives of property, plant and equipment in operation may increase if the asset is refurbished. Useful life change is not automatic, only if it is significantly increased as a result of the investment, which is based on well-founded technical experts’ decision performed on individual basis. Tangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of the assets’ fair value less cost of disposal and its value in use (VIU). The recoverable amount shall be estimated for the individual asset. If it is not possible to estimate the recoverable amount of the individual asset, the recoverable amount determined on the cash-generating unit (CGU) to which the asset belongs, those assets are grouped at the lowest level for which there are separately identifiable cash-flow. Fair value less costs of disposal may be determined using various valuation techniques. These include the use of recent arm’s length transactions, reference to other instruments that are substantially the same, discounted cash flow analyses and option pricing models, making maximum use of market inputs and relying as little as possible on entity-specific inputs. If the FVLCD exceeds the carrying amount of an asset or CGU then the asset or CGU is not impaired and it is not necessary to calculate the VIU. The impairment losses of PPE are accounted for in the Depreciation and amortization line of the Statements of profit or loss and other comprehensive income.

211 9.2 PPE in the statements of financial position Land and buildings Telecom equipment Other equipment Total 01.01.2021 Gross value .............................................................. 88,615 926,459 72,862 1,087,936 Accumulated depreciation .................................. (39,967) (635,760) (61,579) (737,306) Carrying amount .............................................. 48,648 290,699 11,283 350,630 Of which held for sale ........................................... (489) 350,141 Carrying amount - 01.01.2021 ........................ 48,648 290,699 11,283 350,630 Investments ............................................................ 555 63,193 2,526 66,274 Changes due to revisions of asset, retirement obligations ............................................................... 254 - - 254 Disposals ................................................................. (680) (416) (242) (1,338) Depreciation charge .............................................. (2,851) (55,006) (4,242) (62,099) Reclassifications .................................................... 533 1,569 265 2,367 Carrying amount - 12.31.2021 ....................... 46,459 300,039 9,590 356,088 12.31.2021 Gross value .............................................................. 88,984 937,463 70,087 1,096,534 Accumulated depreciation .................................. (42,525) (637,424) (60,497) (740,446) Carrying amount .............................................. 46,459 300,039 9,590 356,088 Of which held for sale ........................................... (115) 355,973 Carrying amount - 01.01.2022 ........................ 46,459 300,039 9,590 356,088 Investments ............................................................ 433 81,901 2,104 84,438 Changes due to revisions of asset, retirement obligations ............................................................... 516 - - 516 Disposals ................................................................. (96) (455) (84) (635) Depreciation charge .............................................. (2,574) (49,244) (3,981) (55,799) Reclassifications .................................................... 244 243 389 876 Carrying amount - 12.31.2022 ........................ 44,982 332,484 8,018 385,484 12.31.2022 Gross value .............................................................. 89,245 968,345 65,237 1,122,827 Accumulated depreciation .................................. (44,263) (635,861) (57,219) (737,343) Carrying amount .............................................. 44,982 332,484 8,018 385,484 Of which held for sale ........................................... - 385,484 This table also contains property, plant and equipment assets subject to operating leases, for further information see Note 17.3.

212 The right-of-use assets by class of underlying asset are listed in the table below. For further information see Note 17. Land and Buildings Telecom equipment Other equipment Total 01.01.2021 Gross value .............................................................. 90,991 50,739 7,791 149,521 Accumulated depreciation .................................. (19,278) (8,673) (3,625) (31,576) Carrying amount - 01.01.2021 ........................ 71,713 42,066 4,166 117,945 Investments ............................................................ 8,529 13,808 1,893 24,230 Disposals ................................................................. (962) (439) (69) (1,470) Depreciation charge .............................................. (10,399) (6,247) (1,868) (18,514) Reclassifications .................................................... - (2,205) - (2,205) Carrying amount - 12.31.2021 ........................ 68,881 46,983 4,122 119,986 12.31.2021 Gross value .............................................................. 97,524 61,325 8,636 167,485 Accumulated depreciation .................................. (28,643) (14,342) (4,514) (47,499) Carrying amount .............................................. 68,881 46,983 4,122 119,986 Carrying amount - 01.01.2022 ........................ 68,881 46,983 4,122 119,986 Investments ............................................................ 9,813 9,412 10,556 29,781 Disposals ................................................................. (858) (10,659) (679) (12,196) Depreciation charge .............................................. (11,077) (4,708) (4,020) (19,805) Reclassifications .................................................... - (876) - (876) Carrying amount - 12.31.2022 ........................ 66,759 40,152 9,979 116,890 12.31.2022 Gross value ............................................................... 105,100 52,579 15,601 173,279 Accumulated depreciation ................................... (38,341) (12,427) (5,622) (56,389) Carrying amount ............................................... 66,759 40,152 9,979 116,890 The closing balance of Property, plant and equipment (PPE) includes assets under construction in an amount of HUF 49,919 million as at December 31, 2022 (2021: HUF 44,910 million). In the table above, the assets under construction are shown in the categories where the asset is expected to be classified when placed into service. Changes due to revisions of asset retirement obligations represent the adjustments of the carrying amounts of the assets against a provision for asset retirement obligation (see also Note 13.2.4). No material impairment was identified in 2021 and 2022. The Company has no PPE with restricted titles or pledged as security as at December 31, 2022 or December 31, 2021.

213 9.3 Review of useful lives Reviews of the useful lives (and residual values) of property, plant and equipment based on the strategic directions and accepted annual development plans conducted in 2022 affected the useful lives of a large number of assets. The revisions resulted in the following change in the original trend of depreciation in the current and future years. 2022 2023 2024 2025 After 2025 Increase / (decrease) in depreciation expense ... 1,351 (1,292) 315 105 (479) Reviews of the useful lives (and residual values) of property, plant and equipment based on the strategic directions and accepted annual development plans conducted in 2021 affected the useful lives of a large number of assets. The revisions resulted in the following change in the original trend of depreciation in the current and future years. 2021 2022 2023 2024 After 2024 Increase / (decrease) in depreciation expense ... (360) 742 874 62 (1,318) 10 INTANGIBLE ASSETS 10.1 Intangible assets – Accounting policies Intangible assets (excluding goodwill) are measured at historical cost less accumulated amortization and any accumulated impairment losses. Acquired computer software licenses are capitalized on the basis of the costs incurred to acquire and bring to use. Costs associated with developing or maintaining computer software programs are generally recognized as an expense as incurred. Costs directly associated with the production of identifiable and unique software products controlled by the Company, and that will probably generate economic benefits exceeding costs beyond one year, are recognized as intangible assets. Direct costs include the software development employee-related costs and an appropriate portion of relevant overhead and borrowing costs. Most computer software capitalized include acquired elements representing the majority of the cost and own costs incurred to a lesser extent. These are considered non self-developed software. Computer software fully developed by own resources represent an immaterial portion of all software, therefore these are not disclosed separately. Costs associated with the acquisition of long-term frequency licenses are recognized as an intangible asset when the Company receives a right to charge users of the service provided under the license. The present value of the future annual payments for the use of the frequencies are also capitalized if these payments can be estimated reliably, or otherwise recognized as Other operating expenses in the year the payment obligation refers to. The useful lives of concessions and licenses are determined based on the underlying agreements and are amortized on a straight-line basis over the period from availability of the frequency for commercial use until the end of the initial concession or license term. Amortization of intangible assets is calculated on a straight-line basis from the time the assets are deployed and charged over their economic useful lives. Other than goodwill, the Company has no intangible assets with indefinite useful life. The amortization expense is presented in the depreciation and amortization line of the Statements of profit or loss and other comprehensive income. On an annual basis, Magyar Telekom reviews the useful lives for consistency with current development and replacement plans and advances in technology. For further details on the groups of assets impacted by the most recent useful life revisions refer to Note 10.3. In addition to the regular revisions, any investment decisions made throughout the year may also result in a change of useful life of a group of assets.

214 The estimated useful lives of intangible assets other than goodwill are as follows: Years Software .............................................................................................................................................. 2-24 Concessions and licenses ................................................................................................................. 3-25 Other intangible assets ..................................................................................................................... 3-10 At the date of transition to IFRS (January 1, 2016) the Company recognized goodwill on those investments that merged into the Company after their acquisition but before the date of transition to IFRS in its separate statements of financial position. Goodwill represents the amount by which the cost of an acquisition exceeds over the fair value of the Company’s share of the net assets and contingent liabilities of the acquired business at the date of acquisition. Goodwill is carried at cost less any accumulated impairment losses. Impairment losses on goodwill are not reversed. Gains and losses on the disposal of an entity or business include the carrying amount of goodwill allocated to the entity or business sold. In determining whether an asset that incorporates both intangible and tangible elements should be treated as tangible asset under IAS 16 - Property, Plant and Equipment or as an intangible asset under IAS 38 – Intangible Assets, management uses judgement to assess which element is more significant and recognizes the assets accordingly. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of the assets’ fair value less cost of disposal and its value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units – CGUs). The recoverable amount of the individual intangible assets of the Company in most cases cannot be determined as individual assets and do not generate cash flows. Instead, the Company determines CGUs to which the individual assets are allocated and the fair values can only be determined at CGU level. Corporate assets which have the distinctive characteristics of not generating cash inflows independently of other assets or groups of assets are allocated to CGUs when conducting impairment tests. Goodwill is tested for impairment annually or more frequently if circumstances indicate that impairment may have occurred. When conducting the impairment tests, Magyar Telekom allocates goodwill to its cash generating units determined at operating segment level. See also Note 3.2. Operating segments may include one clearly identifiable company or a group of companies, or certain components of one company and other companies as well. The Company establishes the segments’ recoverable amounts by determining their fair value less cost of disposal by using valuation techniques. These include the use of recent arm’s length transactions, reference to other instruments that are substantially the same, discounted cash flow analyses and option pricing models, making maximum use of market inputs and relying as little as possible on entity-specific inputs. The fair values determined as described above are used as a basis when establishing the need for an impairment of any goodwill allocated to the operating segments. As long as the FVLCD exceeds the carrying amount of a CGU, in this case an operating segment, then the CGU is not impaired and it is not necessary to calculate the VIU. Calculation of VIU is performed only if FVLCD does not exceed the carrying amount of an operating segment. If the calculated recoverable value is lower than the carrying amount of the operating segment, goodwill is impaired. The impairment losses of intangible assets, including that of goodwill are accounted for in the Depreciation and amortization line of the Statements of profit or loss and other comprehensive income.

215 10.2 Intangible assets in the statements of financial position Goodwill Concessions and licenses Software Other Total 01.01.2021 Gross value ............................................. 173,572 281,733 292,953 13,463 761,721 Accumulated amortization ................. - (101,497) (224,943) (6,293) (332,733) Carrying amount ............................... 173,572 180,236 68,010 7,170 428,988 Carrying amount – 01.01.2021 ...... 173,572 180,236 68,010 7,170 428,988 Investments ........................................... - 83,090 18,763 2,839 104,692 Disposals ................................................ - - (4) - (4) Amortization charge ............................. - (19,271) (19,812) (3,033) (42,116) Reclassification ..................................... - - - (163) (163) Carrying amount – 31.12.2021 ...... 173,572 244,055 66,957 6,813 491,397 12.31.2021 Gross value ............................................. 173,572 343,512 282,740 15,724 815,548 Accumulated amortization ................. - (99,457) (215,783) (8,911) (324,151) Carrying amount ............................... 173,572 244,055 66,957 6,813 491,397 Carrying amount – 01.01.2022 ...... 173,572 244,055 66,957 6,813 491,397 Investments ........................................... - 293 15,538 3,193 19,024 Disposals ................................................ - (111) - (111) Amortization charge ............................. - (16,803) (18,625) (3,177) (38,605) Reclassifications ................................... - (438) 361 77 - Carrying amount – 31.12.2022 ...... 173,572 227,107 64,120 6,906 471,705 12.31.2022 Gross value ............................................. 173,572 262,696 280,446 18,982 735,696 Accumulated amortization ................. - (35,589) (216,326) (12,076) (263,991) Carrying amount ............................... 173,572 227,107 64,120 6,906 471,705 The amortization expense, as well as the impairment losses of intangible assets, including also goodwill, is accounted for in the Depreciation and amortization line of the Statements of profit or loss and other comprehensive income. Investments represent the regular investing activity in intangible assets and the new frequencies were acquired in 2021 that significantly increased the book value of concessions and licenses. HUF 83.1 billion was recognized consisting of the one-time spectrum fee and the present value of annual band fees related to 900 MHz, 1800 MHz spectrums. The useful life of these frequencies and the present value calculations are based on the term of rights of use for these frequencies. For further information see Notes 4.4.4.1, 10.5, 28 and 34.2. The reclassifications between asset categories or their impact on amortization expense was not material. The Company has no intangible assets with restricted title or pledged as security as at December 31, 2022 or December 31, 2021.

216 10.3 Useful lives The reviews of the useful lives of intangible assets based on the strategic direction and accepted annual development plans during 2021 and 2022 affected the useful lives of a large number of assets primarily software. The revisions resulted in the following change in the original trend of amortization in the current and future years. 2022 2023 2024 2025 After 2025 Increase / (decrease) in depreciation expense (2,328) 17 481 536 1,294 2021 2022 2023 2024 After 2024 Increase / (decrease) in depreciation expense . (1,135) 261 948 138 (212) 10.4 Goodwill At the date of transition to IFRS (January 1, 2016) the Company recognized goodwill on investments that merged into the Company after their acquisition but before the date of transition to IFRS in its separate statements of financial position. The Company recognizes goodwill for the following merged investments: 12.31.2021 12.31.2022 T-Mobile ............................................................................................... 161,374 161,374 KTV/T-Kábel......................................................................................... 4,408 4,408 T-Online ................................................................................................ 54 54 Emitel Zrt. ............................................................................................ 6,471 6,471 Dél-Vonal Kft. ..................................................................................... 100 100 Cable TV acquisitions......................................................................... 462 462 Modultechnika Kft. ............................................................................ 703 703 Total ............................................................................................ 173,572 173,572 The Company is a considerable part of the MT-Hungary segment on Magyar Telekom Group level. The goodwill presented in the Company was tested as the considerable portion of this segment. The recoverable amount of the MT Hungary segment significantly exceeds the carrying amount, therefore there is no indication that the goodwill presented in the Company may be impaired. For the goodwill impairment tests, the total amount of goodwill was allocated to the operating segments of the Group and the recoverable amounts of the operating segments were determined based on fair values less costs of disposal based on Level 3 inputs in the fair value calculations (Note 4.5.1). The recoverable amounts of the segments disclosed in the table below exclude net debts, which are not allocated to the segments. For further information, please also see Note 3.2. 12.31.2021 12.31.2022 Carrying amount of Recoverable amount of operating segment Carrying amount of Recoverable amount of operating segment goodwill allocated operating segment (incl. goodwill) goodwill allocated operating segment (incl. goodwill) MT-Hungary ......... 192,314 1,035,769 1,507,266 192,514 1,052,686 1,368,990 The Group regularly carries out an impairment test on goodwill in the last quarter of the financial years, while a simplified goodwill impairment test is conducted quarterly based on the main input changes. During the impairment tests conducted in 2021 and 2022 no goodwill impairment was established for any goodwill.

217 10.5 Significant individual intangible assets The Company’s most significant individual intangible assets are the mobile licenses. The carrying values and remaining amortization periods of the significant licenses are listed in the table below. For further information on these assets, please see Note 34.2. 12.31.2021 12.31.2022 Carrying amount Remaining amortization period (years) Carrying amount Remaining amortization period (years) 700 MHz ........................................................ 38,447 18 36,340 17 800 MHz ........................................................ 27,463 12 25,266 11 900 MHz ........................................................ 39,584 12-21 37,047 11-20 1800 MHz ...................................................... 67,774 12-21 63,845 11-20 2100 MHz ...................................................... 29,047 5-18 26,019 4-17 2600 MHz ...................................................... 12,358 12 11,370 11 26 GHz............................................................ 242 2-5 145 1-4 3600 MHz ...................................................... 28,905 18 26,905 17 Other .............................................................. 235 5 169 4 Total concessions and licenses .............. 244,055 227,107 11 INVESTMENTS 11.1 Investments – accounting policies Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Cost of an investment is the fair value of consideration given, including contingent considerations and transaction costs incurred during the acquisition process. The Company examines whether an investment may or may not be impaired by using internal and external information. Magyar Telekom implemented the requirements of the IAS 36 standard as follows: If the carrying amount of investment exceeds HUF 20 billion then its recoverable amount is always analyzed using a DCF model (irrespective of whether there is any indication of impairment or not). If the carrying amount of an investment does not exceed HUF 20 billion then the Company examines, considering the following, whether there were any changes related to these investments which requires the preparation of impairment assessment based on the DCF model: 1) The Company examines whether during the period there were or whether there are expected to be any significant adverse changes in the market or in the technological, economic and legal environment of the investment. 2) The company examines the forecasted results of its investments. 3) If subsidiaries, joint ventures or associates pay dividend then it has to be examined whether the investments’ carrying amount in the Company’s Separate Financial Statements exceeds the carrying amount of the investee’s net assets (including goodwill) recognized in the consolidated financial statements. In addition, it has to be examined in the period the dividend was declared whether the dividend exceeds the total comprehensive income accumulated since the acquisition of the control which is subjectable for declaration as a dividend. If any of the above three examinations indicates that the market value of the investment declines below its carrying amount then the Company prepares the impairment assessment based on a DCF model also for that investment where the carrying amount does not exceed HUF 20 billion. If the carrying amount of the investment exceeds its recoverable amount, the Company recognizes the necessary impairment loss. If the recoverable amount of the investment exceeds its carrying amount, no impairment is necessary.

218 When the estimates used to determine an asset’s or a CGU’s recoverable amount have improved since the last impairment loss was recognized, the impairment loss that was previously recognized for the asset, other than goodwill, is reversed. In this case the carrying amount of an assets shall not be increased above the lower of: ▪ its recoverable amount and ▪ the carrying amount that would have been determined without any prior impairment loss. For further information see Note 3.2.2. 11.2 Investments Subsidiaries are entities controlled by the Company. The Company controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The existence and effect of potential voting rights that are presently exercisable or presently convertible are also considered when assessing whether the Company controls another entity. As December 31, 2021 and 2022, the Company's investments in subsidiaries are summarized as follows. 01.01.2021 Opening balance Changes in 2021 12.31.2021 Carrying amounts Changes in 2022 12.31.2022 Carrying amounts Stonebridge A.D. ....................................... 77,999 - 77,999 - 77,999 T-Systems Magyarország Zrt. ................. 41,984 - 41,984 - 41,984 Cecoin Kft. .................................................. - - - 3,817 3,817 Combridge S.R.L. ...................................... 2,544 - 2,544 - 2,544 Novatel E.O.O.D. ........................................ 1,999 - 1,999 - 1,999 Investel Zrt. ................................................. 1,658 - 1,658 - 1,658 Other............................................................. 5,426 - 5,426 - 5,426 Total ....................................................... 131,610 - 131,610 3,817 135,427 In 2022, the Company has exercised its call option on the business quota of Cecoin Kft. allowing it to acquire a fiber network covering 110 thousand access points in Hungary (see Note 29). The Company examined the indicators mentioned in Note 11.1 and carried out the tests as necessary and recognized an impairment on Cecoin Kft. investment in 2022 consequently (for more information see Note 3.2.2) Short descriptions of companies in which Magyar Telekom has significant shares: Stonebridge Communications A.D. Skopje (Stonebridge A.D.) In December 2000, Magyar Telekom, on behalf of a consortium, reached an agreement with the government of the Republic of North Macedonia to purchase 51 percent of Makedonski Telekom A.D., the leading telecommunication provider of North Macedonia. The 51 percent ownership acquired by Magyar Telekom was contributed in 2001 to a newly established Macedonian holding company, Stonebridge A.D. residing in Skopje which is owned 100% by Magyar Telekom. T-Systems Magyarország Zrt. (Telekom Rendszerintegráció Zrt.) In 2006 Magyar Telekom purchased the 100% ownership in KFKI Zrt. (the predecessor of T-Systems Magyarország Zrt.). In the course of the years the company acquired several firms which subsequently merged into the company. On January 31, 2022, the Magyar Telekom Group sold its 100% shareholding in Pan-Inform Kft. by its sole owner of TSM Zrt. The scope of the agreement covered the support and development operations provided for central digital healthcare services in Hungary and for the related hospital information system, that partially had been involved in the operation of TSM Zrt. at year-end 2022. This transaction did not affect the value of the investment. On February 1, 2023, the company name of T-Systems Magyarország Zrt. changed to Telekom Rendszerintegráció Zrt.

219 Combridge S.R.L. The company is an alternative telecommunication service provider of Romania. Its main activities are: international and domestic leased line connection, international internet access, international IPVPN services, roaming services and international VoIP call termination. Magyar Telekom has a 100% share in Combridge S.R.L. Novatel E.O.O.D. The company was established in 2004 with headquarters in Bulgaria. The company's main activities are: international and domestic leased line connection, international internet access and IPVPN services, roaming services, infocommunication business solutions and international call termination. Magyar Telekom has a 100% share in Novatel E.O.O.D. A joint arrangement is an arrangement whereby two or more parties have joint control. A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The Company had no investment in joint ventures at December 31, 2021 and 2022. Associates are entities over which the Company has significant influence but not control, generally reflecting a voting right between 20% and 50%. The Company had no investment in associates at December 31, 2021 and 2022 11.3 Joint operations Magyar Telekom and Yettel Hungary (formerly: Telenor Hungary) agreed in 2015 to jointly operate and develop their 800 MHz 4G mobile networks in all parts of Hungary except Budapest. The primary goal of the agreement was to accelerate 4G mobile broadband coverage rollout in the countryside and to offer higher bandwidth to the 4G customers, in line with the coverage obligations of the 800 MHz spectrum contract signed in 2014 with the NRA. Based on the agreement, Yettel Hungary maintains sites in West Hungary and Magyar Telekom operates base stations in the eastern region of the country. The Company assessed the agreement as joint operation as strategic decisions are made jointly by Magyar Telekom and Yettel, and there is no separate vehicle to control the operation of the arrangement. The Company does not share the obligations for liabilities and any returns or expenses beyond the assets included in the agreement. Therefore, only the assets owned by the Company are recognized while there is no need to present the partner’s assets, liabilities, or revenue and expenses. The charges from Magyar Telekom to Yettel and from Yettel to Magyar Telekom are almost equal and settled on a net basis and accounted for in the Statements of profit or loss and other comprehensive income and the effect of this settlement is not significant. If any of the parties initiates the termination of this contract, in order to ensure the continuous service for the customers the Company might be exposed to additional capital expenditure. The probability is currently estimated remote by the Management. 12 OTHER ASSETS Other assets usually include current and non-current receivables considered non-financial instruments. 12.1 Other current assets 12.31.2021 12.31.2022 Accrued income and prepayments for costs and expenses ................................. 3,121 5,544 Other tax receivable ...................................................................................................... 858 208 Other receivables ........................................................................................................... 326 493 Total .................................................................................................................... 4,305 6,245

220 12.2 Other non-current assets Other non-current assets include assets recognized from the costs of obtaining contracts with customers (amounting to HUF 6,963 million, see Note 18.4) and HUF 21 million long-term prepaid employee benefits relating to housing loans provided by the Company to employees at lower than market interest rates. 13 PROVISIONS 13.1 Provisions – Accounting policies Provisions are recognized when Magyar Telekom has a present legal or constructive obligation (excluding executory contracts) as a result of past events and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate of the amount of the obligation can be made. Provisions are measured and recorded as the best estimate of the economic outflow required to settle the present obligation at the financial statement date. The estimate can be calculated as the weighted average of estimated potential outcomes or can also be the single most likely outcome. Provisions for obligations expected to fall due after 12 months are generally recognized at their present value and are accreted (against Interest expense) until utilization or reversal. Expenses for provisions are recognized in the line item of the Statements of profit or loss and other comprehensive income where the actual expense is expected to be incurred. When a provision is released unused, it is released typically to the same line item of the Statements of profit or loss and other comprehensive income where it was originally provided for. 13.2 Provisions in the statements of financial position Severan- ce payment Share- based payments Other employee -related Total employee -related Legal cases ARO Other Total 01.01.2021 .................... 1,871 1,861 8 3,740 455 8,210 205 12,610 Reversed ........................... (330) (88) (1) (419) (19) (8) (335) (781) Additions .......................... 1,989 1,663 3 3,655 552 262 1,909 6,378 Interest .............................. - (6) - (6) 486 174 - 654 Utilized (incl. interest component) ..................... (2,914) (1,133) (1) (4,048) (22) (42) (450) (4,562) 12.31.2021 .................... 616 2,297 9 2,922 1,452 8,596 1,329 14,299 Of which current ............. 485 1,499 - 1,984 - 24 165 2,173 Of which non-current ..... 131 798 9 938 1,452 8,572 1,164 12,126 01.01.2022 .................... 616 2,297 9 2,922 1,452 8,596 1,329 14,299 Reversed ........................... (112) (110) - (222) (9) (12) (1,351) (1,594) Additions .......................... 1,268 1,324 6 2,598 29 516 561 3,704 Interest .............................. - (24) - (24) 80 505 - 561 Utilized (incl. interest component) ..................... (1,030) (1,697) (2) (2,729) (56) (58) (52) (2,895) 12.31.2022 .................... 742 1,790 13 2,545 1,496 9,547 487 14,075 Of which current ............. 675 1,020 - 1,695 18 19 250 1,982 Of which non-current ..... 67 770 13 850 1,478 9,528 237 12,093 The Interest lines in the table above include the subsequent unwinding of the discount applied at initial recognition and the interest element of any provision recognized, as well as the release of the interest / accretion element in the case of

221 reversal of provisions. Magyar Telekom does not expect any reimbursement with regards to the provisions recognized, therefore no related assets have been recognized in the financial statements. 13.2.1 Severance payment The majority of the provision for severance as at December 31, 2022 relates to the stand-by-pool and the employee terminations payable in relation to the 2023 efficiency improvement in Magyar Telekom. The stand-by-pool of employees includes people whose legal status is an employee, however, these people do not provide services to the Company any more, but the Company provides a reduced amount of compensation and pays social security expenses for them. This is a manner of severance that is not paid in one lump sum but in monthly installments following the discontinuation of services. The majority of the provision for severance as at December 31, 2021 also related to the stand-by-pool and the employee terminations paid in relation to the 2022 efficiency improvement in Magyar Telekom. 331 employees left the Company in 2022 (2021: 541), related to which termination payments were made. The balance of provision as at December 31, 2022 relates to 119 employees and stand-by-pool of employees (2021: 96). The total payments made in relation to employee termination in 2022 amounted to HUF 1,322 million (2021: HUF 3,178 million). 13.2.2 Share-based payments Share-based payments are detailed in Note 20.1.2. 13.2.3 Legal cases Provisions for legal cases mainly include amounts expected to be paid to regulatory and competition authorities as well as to ex-employees and trading partners as a result of legal disputes. There are numerous legal cases for which provisions were recognized, which are individually not material. 13.2.4 Asset retirement obligations (ARO) Asset retirement obligations primarily exist in the case of the telecommunications structures constructed on third parties’ properties. The Company carries out a revision of the necessary provisions every year. The revisions did not result in material changes in 2022 or 2021. 13.2.5 Other provisions Other provisions include guarantee obligations, onerous contracts and further other individually small items. 14 OTHER CURRENT LIABILITIES 12.31.2021 12.31.2022 Supplementary telecommunication tax.......................................................... (a) - 2,120 Other taxes and social security ......................................................................... 7,056 8,327 Salaries and wages .............................................................................................. 4,828 5,609 Deferred revenue and advances received ...................................................... 2,040 2,008 Unused advance payments for asset-related grants ................................... (b) 12 5 Other liabilities ..................................................................................................... 57 86 Total ........................................................................................................... 13,993 18,155 (a) On June 4, 2022 the Government of Hungary issued a decree (Government Decree of 197/2022. (VI.4.)) imposing a new type of tax on a number of industries, including telecommunications. For further information see Note 2.2.2. (b) For further information see Note 4.2.4.2.

223 16 EQUITY Equity reconciliation table In accordance with Act C of 2000 on Accounting (HAR) effective in Hungary, the following equity reconciliation table shows the reconciliation between the components of equity presented in these financial statements (under EU IFRS) and the equity components defined by Section 4 (a) 114/B of HAR. The reconciliation consists of an allocation of equity components under EU IFRS to equity components under HAR and adjustments for differences between the equities determined on different bases. 31.12.2021 31.12.2022 Common stock ................................................................................................................................................. 104,274 100,580 Reserves ............................................................................................................................................................ 496,550 524,355 Treasury stock ................................................................................................................................................... (19,566) (18,742) Profit or loss for the year ................................................................................................................................. 54,544 59,529 Equity in accordance with IFRS (Section 4 114/B) ......................................................................... 635,802 665,722 Section 4 (a) 114/B Equity ................................................................................................................ 635,802 665,722 Common stock provided for by the articles of association if that qualified as an equity instrument 104,274 100,580 Nominal value of own shares repurchased (-) ............................................................................................ (4,578) (4,308) Section 4 (b) 114/B Common stock in accordance with IFRS* ....................................................... 99,696 96,272 Section 4 (c) 114/B Subscribed but unpaid capital ......................................................................... - - Sum of all part of equity that does not comply with the definitions of common stock, subscribed but unpaid capital, retained earnings, valuation reserve, profit or loss for the year or restricted reserves in accordance with IFRS .................................................................................................................... 12,390 11,974 Section 4 (d) 114/B Capital reserves ............................................................................................... 12,390 11,974 Previous years’ profit accumulated and not yet distributed for the owners disclosed in the financial statements in accordance with IFRS that may not include other comprehensive income (±) ......................................................................................................................................................................... 469,171 497,947 Section 4 (e) 114/B Retained earnings ............................................................................................ 469,171 497,947 Section 4 (f) 114/B Valuation reserve .............................................................................................. - - Profit or loss for ongoing activities disclosed in statement of performance in its own right within the comprehensive income statement or in the separate profit and loss statements ...................... 54,544 59,529 Section 4 (g) 114/B Profit or loss for the year ................................................................................. 54,544 59,529 Section 4 (h) 114/B Restricted reserves .......................................................................................... - - Section 5 (a) 114/B Reconciliation of the capital registered by the Court of Registry with the subscribed capital under IFRS Capital registered by the Court of Registry ................................................................................................ 104,274 100,580 Subscribed capital under IFRS ....................................................................................................................... 99,696 96,272 Difference (nominal value of treasury stock repurchased) ............................................................ 4,578 4,308 Section 5 (b) 114/B Untied retained earnings available for the payment of dividends Retained earnings (contains profit or loss of the last financial year) .................................................... 523,715 557,476 Untied retained earnings available for the payment of dividends ................................................. 523,715 557,476 *Common stock shows the value of common stock recorded in article of association in the balance sheet, the table above contains the deduction defined in the relevant sections of the Hungarian Act on Accounting.

224 17 LEASES 17.1 Leases – Accounting policies A contract is a lease (or contains a lease) if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Recognition exemptions Short-term leases, low value leases IFRS 16 includes recognition exemptions available to lessees for short-term leases and leases of low-value items and specifies alternative requirements. ▪ In the Company, a decision was made not to apply the short-term recognition exemptions to lease contracts, except for some minor and insignificant lease arrangements with a lease term of one month or less. Such very short-term leases and related asset classes are expensed as incurred and no additional quantitative disclosure is required. ▪ The Company has made the decision not to apply the practical expedient with respect to low-value items. Hence they have to be recognized, measured and presented as lease arrangements in the scope of IFRS 16. Lease term The lease term assessment at the commencement date refers to the period for which Magyar Telekom is reasonably certain to maintain the contract under the terms and conditions as originally negotiated. The initial lease term assessment is made at commencement of the lease. When determining the lease term, the shortest reasonably possible, i.e. justifiable, term is always to be used in the case of doubt. The lease term assessment is largely based on management judgement and Magyar Telekom usually use estimates or assumptions (especially in the case of options and indefinite contracts) on asset cluster level. The commencement date of the lease (commencement date), is the date on which a lessor makes an underlying asset (i.e., the property, plant or equipment that is subject to the lease) available for use to the lessee. At the commencement date, the lease term begins and lease liability and the right-of-use asset is initially recognized and measured. Options- “Reasonably certain criteria” In assessing whether a lessee is reasonably certain to exercise an option to extend a lease, or not to exercise an option to terminate a lease, lessees and lessors shall consider all relevant facts and circumstances that create an economic incentive for the lessee to exercise the option to extend the lease, or not to exercise the option to terminate the lease. Lease payments Lease payments are defined as payments made by a lessee to a lessor relating to the right to use an underlying asset during the lease term. The Company decided to apply the practical expedient not to separate lease from non-lease components on the lessee side (except data centers; car fleet). As a result, lease and non- lease components will be considered a single lease component. In accordance with the recognition and measurement requirements in IFRS 16, the initial measurement of the lease liability includes variable lease payments that depend on an index or rate, e.g. the consumer price index (CPI) or a market interest rate, such as the Budapest Interbank Offered Rate (BUBOR). In contrast, variable lease payments that are not based on an index or rate (e.g. for example, variable lease payments linked to performance or usage of the underlying asset) and which are not in-substance fixed payments are not included in lease payments and recognized in profit or loss in the period in which the event or condition occurs that triggers those payments. Reassessment of the lease liability

225 IFRS 16 specifies when the lease liability has to be reassessed. It is important to note that, in terms of IFRS 16, a reassessment of the lease liability only takes place if the change is based on already existing contractual clauses, i.e. those that have been part of the contract since commencement. A lessee reassesses the lease term, i.e. whether it is reasonably certain to exercise an extension option, or not to exercise a termination option, upon the occurrence of either a significant event or a significant change in circumstances that is within the control of the lessee; and affects whether the lessee is reasonably certain to exercise an option not previously included in its determination of the lease term, or not to exercise an option previously included in its determination of the lease term. Accounting for lease modifications A lease modification is defined as “a change in the scope of a lease, or the consideration for a lease, that was not part of the original terms and conditions of the lease (for example, adding or terminating the right to use one or more underlying assets, or extending or shortening the contractual lease term)”. Modification can result from a change in consideration only. The effective date of the modification is defined as the date when both parties agree to a lease modification. A lessee accounts for a lease modification as a separate lease if both of the following conditions are fulfilled: ▪ the modification increases the scope of the lease by adding the right to use one or more underlying assets; and ▪ the consideration for the lease increases by an amount equivalent to the stand-alone price for the increase in scope and any appropriate adjustments to that stand-alone price to reflect the circumstances of the particular contract. When these conditions are met, the modification is considered to result in the creation of a new lease that is separate from the original lease. The agreement for the right to use one or more additional assets is accounted for as a separate lease (or leases) to which the requirements of IFRS 16 are applied independently of the original lease. For a lease modification that is not a separate lease, i.e. that does not meet the conditions outlined above, at the effective date of the modification, the lessee accounts for the lease modification by remeasuring the lease liability using a discount rate determined at that date and: ▪ for lease modifications that decrease the scope of the lease, the lessee decreases the carrying amount of the right- of-use asset to reflect the partial or full termination of the lease, and recognizes a gain or loss that reflects the proportionate decrease in scope; and ▪ for all other lease modifications, the lessee makes a corresponding adjustment to the right-of-use asset. When a lease arrangement is modified, then the revised lease payments will always be discounted with a revised discount rate. This is different from the requirements for a reassessment of the lease, where only in specific cases a revised discount rate is required. Presentation and disclosures for Magyar Telekom as lessee Statements of financial position The Company decided to present the right-of-use assets (separately from other assets) as well the lease liabilities as separate line items on the face of the statements of financial position. Statements of profit or loss and other comprehensive income In the statements of profit or loss and other comprehensive income Magyar Telekom presents separately interest expense on the lease liability from depreciation for the right-of-use asset. In addition, interest expense on the lease liability is a component of finance costs.

226 Statements of cash flows The following items are presented within operating activities in the statements of cash flows: ▪ cash payments for the interest portion of the lease liability, according to the Company accounting policy to present interest payments in operating cash flows and; ▪ variable lease payments not included in the lease liability Cash payments for the principal portion of lease liability are presented within financing activities in the statements of cash flows. Presentation and disclosures for Magyar Telekom as lessor Presentation of leases in Statements of profit or loss and other comprehensive income and in Statements of financial position In the Statements of profit or loss and other comprehensive income, operating lease revenue is not disclosed separately from other revenue. There is only one-line item titled “Revenue”. The operating lease revenue line item in the Notes is titled “Other sources” (see Note 18.3.1). Magyar Telekom as a Lessor presents assets subject to operating leases in its statements of financial position according to the nature of the underlying asset. In the Company, portions of assets that are physically distinct and are identified as underlying assets (leases) are not presented separately from the whole asset in the statements of financial position. Other lease topics Sale and leaseback transactions Assessing whether the transfer of the asset qualifies as a sale In the Company, both the short-term and the low value recognition exception have not been elected for any asset class. As a result, Magyar Telekom seller-lessee will always recognize (materiality considered) sale-and-leaseback transactions on-balance sheet. To determine how to account for a sale-and-leaseback transaction, the Company first considers whether the initial transfer of the underlying asset from the seller-lessee to the buyer-lessor is a sale. The Company then applies IFRS 15 to determine whether a sale has taken place. This assessment determines the accounting by both the seller-lessee and the buyer-lessor, as follows. Accounting for sale and leaseback − Transfer of an asset is not a sale If the transfer of an asset is not a sale, the seller-lessee and the buyer-lessor account for the transaction as financing. Accounting for sale and leaseback − Transfer of an asset is a sale If control passes as defined in IFRS 15 (sale), the seller-lessee must recognize an asset at an amount equalling the pro-rata carrying amount arising from the pro-rata right-of-use retained. Any gains or losses from this transaction are also only recognized proportionately. Hence, the seller-lessee restricts the gain that it recognizes on the sale to the amount that relates to the portion of the underlying asset that has been transferred, i.e. to the buyer-lessor’s residual interest in the underlying asset. Sale and leaseback transactions have no material effect on financial statements of Magyar Telekom. Subleases A sublease is defined as a transaction for which an underlying asset is re-leased by a lessee (‘intermediate lessor’) to a third party, and the lease (‘head lease’) between the head lessor and lessee remains in effect. In classifying a sublease, Magyar Telekom, as the intermediate lessor, should classify the sublease as a finance lease or an operating lease in the same manner as any other lease using the criteria discussed in IFRS 16.61. Sublease is a finance lease

227 If Magyar Telekom classifies the sublease as a finance lease, the lease is entered into the following: ▪ derecognize the right-of-use asset relating to the head lease that it transfers to the sublessee and recognizes the net investment in the sublease; ▪ recognize any difference between the right-of-use asset and the net investment (finance lease receivable) in the sublease in profit or loss; and ▪ retain the lease liability relating to the head lease in its statements of financial position, which represents the lease payments owed to the head lessor. At the commencement date of the sublease, if Magyar Telekom cannot readily determine the rate implicit in the sublease, then it uses the discount rate that it uses for the head lease to account for the sublease, adjusted for any initial direct costs associated with the sublease. Presentation and disclosures for subleases No sublease-specific balance sheet and income statements presentation rules apply to subleases. Magyar Telekom applies the respective presentation rules that apply to other finance and operating leases. Magyar Telekom does not offset assets and liabilities arising from a head lease and a sublease of the same underlying asset, unless the financial instruments requirements for offsetting are met. The same applies to lease income and lease expenses relating to a head lease and a sublease of the same underlying asset, unless the requirements for offsetting in IAS 1 are met. Under IFRS 16 the head lease and a sublease are two separate contracts that are accounted for under the lessee and lessor models, respectively. The general disclosure rules equally apply for the head lease and for subleases, either disclosures for finance sub-lessors or operating sub- lessors. Lessor accounting Finance lease – Definition A finance lease is a lease that transfers substantially all the risks and rewards incidental to ownership of an underlying asset to the lessee. The nature of finance lease arrangement is akin to financing the sale of an asset. The presentation in the financial statements departs from the legal lease form of the transaction and is based on the economic substance (i.e. as if the underlying lease asset was sold by the lessor to the lessee). Operating lease – Definition An operating lease is a lease that does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset. There is a typically simple short-term hire arrangement (an operating lease), whereby rental payments received are dealt with in profit or loss with the primary impact on the balance sheet relating to the timing of lease payments.

228 17.2 Finance lease 17.2.1 Finance lease – Company as lessor Finance leases mainly include building and equipment – dark fibres, broadband network, offices, sites – provided to business customers as part of IT service contracts where the Company is the service provider. Future lease receivables under finance leases at December 31, 2021 and 2022 are as follows: 12.31.2021 12.31.2022 Present value Interest component Minimum lease receipt Present value Interest component Minimum lease receipt Within 1 year............. 443 289 732 276 224 500 1–2 years ................... 437 267 704 206 208 413 2–3 years ................... 376 246 622 222 192 413 3–4 years ................... 397 225 622 232 175 407 4–5 years ................... 412 203 615 250 156 407 After 5 years ............. 3,406 694 4,100 1,808 459 2,266 Total ........................ 5,471 1,924 7,395 2,994 1,414 4,406 The interest component represents the unearned finance income. The present value due within one year is included in Other current financial assets, while the present value after one year is included in Other non-current financial assets. The finance income accruing to the Company over the lease term is recognized in the Profit for the period (Interest income). See Note 23. The unguaranteed residual values accruing to the benefit of the Company are insignificant. 17.2.2 Lease – Company as lessee Leases are mainly in respect of the rental of the new headquarters, mobile cell sites and sale and lease back of spaces in buildings accommodating telephone exchanges, and to a lesser extent, related to other buildings, network and other telecommunications facilities, equipment and vehicle. In most cases the contracts are denominated in HUF and EUR, the term of the leases is 2–15 years, and the contracts include renewal options but no purchase options. Leases of buildings generally have lease terms between 2 and 13 years, in the case of telecom equipment 3 and 15 years, while these terms are between 2 and 5 years for motor vehicles and other equipment. The Company’s obligations under its leases are secured by the lessor’s title to the leased assets. Generally, the Company is restricted from assigning and subleasing the leased assets and some contracts require the Company to maintain certain financial ratios. The maturity analysis of lease liabilities is disclosed in Note 5.1.3.

229 The following are the amounts recognized in profit or loss: 2021 2022 Depreciation expense of right-of-use assets .......................................................... 18,514 19,804 Interest expense on lease liabilities .......................................................................... 5,696 5,972 Foreign exchange loss on lease liabilities ................................................................ 465 4,232 The expense relating to variable lease payments not included in the measurement of lease liabilities ................................................................................ (a) - 1,704 Gains or losses arising from sale and leaseback transactions ............................. - - (a) From January 1, 2022, the treatment of rental fees based on subscriber/service number has changed according to IFRS 16, as they are classified as variable (performance-based) payments, so they must be accounted for in the Statement of Profit or Loss. The network rental contracts were affected by the change. Related to these contracts the future cash outflows for variable lease payment that are not reflected in the measurement of lease liabilities are HUF 5,836 million in 2022. The Company had total cash outflows for leases of HUF 19,440 million in 2022 (HUF 21,136 million in 2021). The Company has various lease contracts that have not yet commenced as at December 31, 2022. The future lease payments for these non-cancellable lease contracts are HUF 9,281 million (HUF 10,446 million in 2021). The amount of undiscounted potential future rental payments relating to periods following the exercise date of extension and termination options that are not included in the lease term is HUF 16,943 million (HUF 13,825 million in 2021). The Company initially estimates and recognizes amounts expected to be payable under residual value guarantees as part of the lease liability. Typically, the expected residual value at lease commencement is equal to or higher than the guaranteed amount, and so the Company does not expect to pay anything under the guarantees. As at December 31, 2022, there is no amount of residual value guarantees to which the Company is potentially exposed that are not reflected in the measurement of lease liabilities (HUF 88 million in 2021). 17.3 Operating leases – Company as lessor The following tables include the future minimum lease payments receivable by the Company for the operating leases of mobile tower sections, network, dark fiber, buildings and customer premise equipment where Magyar Telekom is the lessor. 12.31.2021 12.31.2022 Within 1 year................................................................................. 3,859 4,174 1–2 years ....................................................................................... 3,405 3,641 2–3 years ....................................................................................... 3,153 3,417 3–4 years ....................................................................................... 3,048 3,269 4–5 years ....................................................................................... 2,499 2,769 After 5 years ................................................................................. 1,249 1,391 Total ...................................................................................... 17,213 18,661 The lease income from operating leases is HUF 5,158 million in 2022. The Company has no lease income relating to variable lease payments that do not depend on an index or rate. The estimated expected credit loss on operating lease considered to be not material and not recognized.

230 The following table disaggregates class of property, plant and equipment into assets subject to operating leases: Land and Building Telecom equipment Total 01.01.2021 Gross value ............................................................................................... 3,997 1,681 5,678 Accumulated depreciation ................................................................... (1,679) (874) (2,553) Carrying amount 01.01.2021 ........................................................ 2,318 807 3,125 Carrying amount 01.01.2021 ........................................................ 2,318 807 3,125 Additions .................................................................................................. 83 1,128 1,211 Disposal .................................................................................................... (136) (159) (295) Depreciation charge ............................................................................... (123) (334) (457) Carrying amount 12.31.2021 ........................................................ 2,142 1,442 3,584 12.31.2021 Gross value ............................................................................................... 3,782 2,493 6,275 Accumulated depreciation ................................................................... (1,640) (1,051) (2,691) Carrying amount 12.31.2021 ........................................................ 2,142 1,442 3,584 Carrying amount 01.01.2022 ........................................................ 2,142 1,442 3,584 Additions .................................................................................................. 42 6,970 7,012 Disposal .................................................................................................... (144) (207) (351) Depreciation charge ............................................................................... (108) (1,143) (1,251) Carrying amount 12.31.2022 ........................................................ 1,932 7,062 8,994 12.31.2022 Gross value ............................................................................................... 3,643 9,133 12,776 Accumulated depreciation ................................................................... (1,711) (2,071) (3,782) Carrying amount 12.31.2022 ........................................................ 1,932 7,062 8,994 18 REVENUE 18.1 Revenue – accounting policies 18.1.1 Sale of goods and Rendering of services The core principle of IFRS 15 is for companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration (that is, payment) to which the company expects to be entitled in exchange for those goods or services. Revenue should be recognized if it is probable that the Company will collect the consideration to which it will be entitled in exchange for the goods or services that will be transferred to the customer. If the Company determines that collectability is no longer ensured (e.g. because subsequently the customer’s ability or intent to pay significantly deteriorates), the Company must apply cash accounting for the remainder of the contract, i.e. for the outstanding goods and services to be provided. This reassessment does not affect recorded assets and revenue relating to performance obligations already satisfied. Revenue is recognized when or as performance obligations are satisfied by transferring control of a promised good or service to a customer. Control either transfers over time or at a point in time, which affects when revenue is recorded.

231 As a practical expedient, the Company applies the guidance to a group of contracts with similar characteristics instead of to a single contract with a customer. A portfolio approach is acceptable if the Company can reasonably expect that the effect of applying a portfolio approach to a group of contracts or group of performance obligations would not differ materially from considering each contract or performance obligation separately. This implies that a portfolio of contracts with similar characteristics does not necessarily need to refer to homogenous products being included in these contracts. Main principles ▪ If the Company performs by transferring goods or services to a customer before the customer pays consideration or before payment is due, the Company shall present the contract as a Contract asset, excluding any amounts presented as a receivable. A contract asset is the Company’s right to consideration in exchange for goods or services that the Company has transferred to a customer. ▪ In the case of multiple-element arrangements (e.g., mobile contract plus handset) with subsidized products delivered in advance, a larger portion of the total remuneration is attributable to the component delivered in advance (mobile handset), requiring earlier recognition of revenue. This leads to the recognition of what is known as a contract asset in the Statements of Financial Position. See Note 3.4 for more details. ▪ Incremental expenses for sales commissions (customer acquisition costs or costs of obtaining a contract) must be capitalized and presented on the Other current and non-current assets lines of the Statements of Financial Position and recognized over the estimated customer retention period, see Note 3.4 for more details. ▪ Later recognition of revenue appears in cases where “material rights” are granted, such as offering additional discounts for future purchases of further products. ▪ Contract liabilities are netted off against the contract assets for each customer contract. ▪ The Company presents the revenue on gross basis (as principal) when it controls the specified goods or services before they are transferred to the customer, and it must be transferred by the Company. ▪ When the Company is a reseller of a supplier’s branded digital products and is the legal seller of these products, it should generally be considered primarily responsible towards the customer for providing the promised goods or services when both of the following conditions are fulfilled: ▪ The Company is the only party which the customer enters into a contract with; ▪ The Company must be the only party that is responsible towards the customer for product acceptability, providing support, handling complaints and rectifying product issues. ▪ A significant financing component is not considered for the amount and timing of revenue recognition if the period between when a promised good or service is transferred to the customer and when the customer pays for that good or service will be one year or less. For sevice contracts covering period over one year, consisting specifically trade receivables over one year and contract assets, revenue recognized using the effective interest method described in notes 3.4 and 4.1.2, respectively. ▪ If the promise to grant a license is distinct from the other promised goods or services in the contract then the promise to grant the license is a separate performance obligation and the Company shall determine whether the license transfers to a customer is either at a point in time or over time. 18.1.2 Revenue from operating leases Revenue from operating leases is recognized as revenue on a straight line basis over the term of the lease. Lease incentives granted are recognized as an integral part of the total rental income, over the term of the lease. For further information, please see Note 17.3. 18.2 Revenue from major service lines 18.2.1 Mobile and fixed-line telecommunications revenue Revenue is primarily derived from services provided to Magyar Telekom’s customer subscribers and other third parties using Magyar Telekom’s telecommunications network and equipment sales. Customer subscriber arrangements typically include an equipment sale, subscription fee and charge for the actual voice, internet, data or multimedia services used. Subscription fees and flat rate revenue is recognized on over time basis in the period they relate to. Revenue for airtime services is recognized over-time. Revenue from fixed, mobile and TV services provided through narrow and broadband accesses are recognized over-time basis at post-paid contracts, while on usage basis at pre-paid contracts. Streaming TV service revenue is recognized on net basis.

232 Revenue from premium rate services typically include intermediated services (e.g. lottery, parking and public transport tickets, motorway toll) is generally recognized on net basis. Advertising revenue is recognized in the period that the advertisements are exhibited. Customers may also purchase prepaid mobile, public phone and internet credits (cards) which allow those customers to use Magyar Telekom’s telecommunications network for a selected amount of time. Customers must pay for such services at the date when the card is purchased. Revenue from the sale of cards is recognized when they are used by the customers or when the credits expire with unused traffic. Third parties using Magyar Telekom’s telecommunications network include roaming customers of other service providers and other telecommunications providers which terminate or transit calls on Magyar Telekom’s network. These wholesale (incoming) traffic revenue is recognized in the period of related usage. A proportion of the revenue received is often paid to other operators (interconnect) for the use of their networks, where applicable. The revenue and costs of these transit calls are stated gross in the Financial statements as the Company is the principal supplier of these services using its own network freely defining the pricing of the services and recognized in the period of related usage. Contracts are frequently sold to customers containing a cross subsidy between two or more components. A typical example is where a mobile phone is sold at a price significantly below its market value in a bundle with a service contract for a period of 12 or 24 months. From a commercial point of view, the subsidy on the mobile phone is compensated via the service fee. See also Note 3.4. With this adjustment requirement (also termed as "basic adjustment") a cross-subsidy or an overall bundle discount must be allocated to the individual components of the bundle consequently revenue generally reflects the standalone selling price of the good and/or service. 18.2.2 System Integration and Information Technology (SI/IT) revenue Contracts for network services, which consist of the installation and operation of communication networks for customers, have an average duration of 2-3 years. Revenue from systems integration or installation contracts requiring the delivery of customized products and/or services is generally performed in projects and covered by fixed-price or time and material-based contracts. For fixed-price contracts, revenue is measured based on the input method that determined on the progress of performance. In this case revenue recognition is based on the efforts or inputs to the satisfaction of a performance obligation (resources consumed, labour hours expended, cost incurred, time elapsed or machine hours used) relative to the total expected inputs. In case of contracts billed on the basis of time and material, revenue is recognized over time. Ongoing operation of IT system – outsourcing contracts – reflects the extent of actual services delivered in the period in accordance with the terms of the contract, could be performed either on the equipment of the client or the Company’s (e.g. cloud, running, monitoring and maintenance services) related revenue invoiced on monthly basis (over-time). Revenue from IT services delivered in the period in accordance with the terms of the contract are analyzed based on the IFRS 16 requirements – determining whether an arrangement contains a lease, and if they include embedded lease elements, the revenue attributable to these is recognized according to IFRS 16 – Leases as described in Note 17. Magyar Telekom transfers control of goods and services over time, therefore satisfies a performance obligation and recognizes revenue over time, if one of the following criteria is met: ▪ a customer simultaneously receives and consumes the benefit provided by The Company’s performance as the Company performs, containing services provided continuously during the contracted period (desktop services, database management services, operational and maintenance services). ▪ The Company’s performance creates or enhances assets that the customer controls as the asset is created or enhanced or the Company’s performance does not create an asset with an alternative use to the Company and the

233 Company has an enforceable right to payment for performance completed to date, include project works covering a longer period whose measured based on input method and related revenue recognised accordingly. This kind of project works could contain e.g.: Information and communications technology (ICT) network planning and related construction works with one or more milestones during of project period from revenue recognition point of view. If the performance obligation is not satisfied over time, Magyar Telekom satisfies the performance obligation at a point in time. Revenue from hardware sales or sales-type leases is recognized when the customer obtains the control over the product. Equipment revenue is recognized at a point in time. Revenue from software license sales provided by the Company to customers based on the principle-agent accounting method. See Note 18.1.1. 18.3 Revenue in the Statements of profit or loss and other comprehensive income 18.3.1 Disaggregation of revenue from contracts with customers 2021 2022 Mobile revenue Voice retail ......................................................................................................... 105,910 104,063 Voice wholesale ................................................................................................ 8,917 8,542 Data ..................................................................................................................... 108,814 131,194 SMS...................................................................................................................... 22,599 22,638 Equipment .......................................................................................................... 94,525 106,525 Other mobile revenue ...................................................................................... 9,238 13,264 Total Mobile revenue ............................................................................. 350,003 386,226 Fixed line revenue Voice retail ......................................................................................................... 31,742 29,392 Broadband retail ............................................................................................... 53,133 62,415 TV ......................................................................................................................... 46,691 50,626 Equipment .......................................................................................................... 18,658 16,184 Data retail ........................................................................................................... 10,202 10,491 Wholesale ........................................................................................................... 12,882 13,073 Other fixed-line revenue .................................................................................. 14,569 15,159 Total fixed-line revenue ......................................................................... 187,877 197,340 SI/IT revenue...................................................................................................... 10,412 9,388 Total revenue .......................................................................................... 548,292 592,954 Of which: Revenue from contracts with customers ..................................................... 544,419 587,796 Other sources .................................................................................................... 3,873 5,158 Other sources of revenue include real estate and network rental fees which are presented above in the Fixed-line wholesale and Fixed-line other revenue lines. There was a higher increase in CPE operating leases revenue in 2022 (HUF 1,665 million). None of the Company’s customers represent a significant source of revenue individually. Revenue from transactions with a single external customer (or group of entities that – knowingly to us – are under common control of a third party or government) do not exceed 10% of the Company’s revenue.

234 Regarding geographical segmentation of revenue please see Note 33. 18.4 Assets and liabilities related to contracts with customers Contract assets of the Company consist of unbilled amounts typically resulting from sales under long-term contracts when revenue recognized exceeds the amount billed to the customer. Contract liabilities consist of advance payments and billings in excess of costs incurred and deferred revenue. 12.31.2021 12.31.2022 Contract assets – current .................................................................................. 13,158 13,805 Contract assets – non-current .......................................................................... 3,620 3,385 Contract liabilities – current .............................................................................. (8,090) (8,565) Net contract assets (liabilities) ................................................................ 8,688 8,625 Revenue recognized in the reporting period from amounts included in contract liability at the beginning of the period ............................................ 6,751 6,868 Asset recognized from the costs to obtain contracts with customers ..... 6,089 6,963 Amortization recognized as cost of obtaining contracts during the period ..................................................................................................................... (6,068) (7,360) Impairment losses recognized on contract assets are disclosed together with trade receivables in Note 4.2.2.2. and amounted to HUF 1,036 million as at December 31, 2022 (HUF 1,598 million in 2021). As of December 31, 2022, the aggregate amount of the transaction price allocated to the remaining performance obligation is HUF 192,459 million and the Company will recognize this revenue as services are rendered, which is expected to occur over the next 1-24 months. 19 DIRECT COSTS 19.1 Telecom tax Telecom tax was introduced in Hungary for fixed and mobile voice and mobile SMS/MMS services, effective from July 1, 2012. The tax imposed on fixed and mobile usage amounts to HUF 2 per minute and HUF 2 per SMS/MMS for private individual subscribers’ subscriptions and to HUF 3 per minute and HUF 3 per SMS/MMS for non-private individual subscribers’ subscriptions. The tax is capped at HUF 700 and HUF 5,000 per month per calling number for private and non-private individuals’ subscriptions, respectively. 19.2 Other direct costs Other direct costs include costs of mobile and fixed devices, accessories and other equipment, agent commissions and non-voice direct costs.

235 20 EMPLOYEE-RELATED EXPENSES 20.1 Employee-related expenses – Accounting policies 20.1.1 Short-term employee benefits Short-term employee benefits are recognized as a current expense in the period when employees render their services. These include wages, social security contributions, bonuses, paid holidays, discounted telephone bills, meal and holiday contributions and other fringe benefits and the tax charges thereon. Payments to defined contribution pension and other welfare plans are recognized as an expense in the period in which the service is rendered by the employees. 20.1.2 Share-based payments Magyar Telekom recognizes the costs of services received from its employees in a Share-based payment transaction when services are received. Magyar Telekom recognizes a corresponding increase in its equity reserves (Reserve for equity-settled share-based transactions) if the services are received in an equity-settled share-based payment transaction. When the share-based compensation program is completed, i.e. the shares are transferred to the employees’ ownership or the share options have forfeited, the respective reserve is derecognized. If the services are received in a cash-settled share-based payment transaction, the Company recognizes the expense against a liability, re-measured to fair value at each financial statement date. Bonuses tied to the long-term performance of the Magyar Telekom and Deutsche Telekom shares are recognized in the Profit for the period at their time-proportioned fair value against an accumulating balance in liabilities. 20.1.2.1 Share Matching Plan of Deutsche Telekom Group (SMP) As of July 1, 2015, Magyar Telekom implemented a Share Matching Plan, the participation in the program is mandatory for the Company’s Chief Executive Officer, and voluntary for all executive (ca. 40). The participant can invest a minimum of 10% of his/her gross annual bonus in Deutsche Telekom shares, with an option to voluntarily increase this amount to a maximum of 50% (personal investment). These shares must be kept for at least for four years (the lock-up period), the participant is granted matching shares upon expiry of the lock-up period. The share allocation ratio of the program (1:1 or 1:2) depends on the participant’s individual Management Group (MG). Deutsche Telekom grants the matching shares to the participant based on the Deutsche Telekom shares acquired by the participant within the framework of the program. The program starts annually if the free cash flow target of Deutsche Telekom Group was met in the previous year. The program initiated by DT is settled in DT shares with the participants, meanwhile Magyar Telekom has to settle it with DT AG in cash at the same time participants are granted the DT shares therefore the closing balance of the program is presented as a related-party financial liability in the Separate statements of financial positions as it is settled in cash from the perspective of Magyar Telekom and is due to be paid to DT AG. In 2022 HUF 44 million was recognized (2021: HUF 31 million) as expense for the program. 20.1.2.2 Long-term incentive program (LTI) As of January 1, 2015, Magyar Telekom Company changed its existing LTI program, which turned it into a share-based compensation program. The 2022 LTI program is a global, Deutsche Telekom Group-wide incentive program. Approximately 40 executives may participate in the program. The CEO’s participation is unconditional, while other executives may participate only if the evaluation of the participant's performance in the previous year meets the requirements. LTI is payable in cash tied to the achievement of four key strategic indicators. In the framework of the program, in each year a new four-year tranche is to be launched. Payment is due after the end of the program term depending on the evaluation of the achievement of the pre-set targets (0 to 150%). At the beginning of the program, the relevant incentive amount is converted into a number of virtual shares of DT AG and

236 awarded to the plan participant in the form of virtual shares (basic number). The annual level of target achievement is determined at the end of each year. This target achievement level is multiplied on a pro rata basis by the basic number of virtual shares awarded. The number of virtual shares calculated using this method shall then be "fixed" for the plan participant as the binding result for that specific year ("annual result"). At the end of the plan term, the four binding annual results shall be added together. The resulting total number of virtual shares shall be converted into cash applying the prevailing price of DT AG shares at that time, which is paid to the plan participants. For dividend payments during the plan term, the virtual shares shall be treated as real shares. The dividends shall be taken into account as follows: The first/second/third dividend payments shall be “reinvested” into virtual shares when the actual dividends are paid on real shares. The fourth (and last) dividend payment shall not be reinvested but paid in cash together with the plan payment following the DT AG shareholders' meeting at which a decision is made regarding this dividend payment. The plan currency is euro. In 2022, HUF 808 million was recognized as expenses for the program (2021: HUF 446 million). 20.1.3 Game Changer Incentive (GCI) The Game Changer Incentive program is a global, Deutsche Telekom Group-wide incentive program for employees in Management Group 1 and 2 and for selected group of employees in Management Group 3. The program covers four years the period from January 1, 2022 to December 31, 2025. Payments under the program are made subject to the performance parameters, KPIs and target achievement levels. First payment is expected in first quarter of 2023, the amount of the bonus payout depends on Management level and target achievement. HUF 242 million was recognized as expense for the program in 2022. 20.1.4. Repeated Performance Incentive (RPI) The RPI honored repeated, extraordinary collective performance, which was measured by the overachievement of a defined bonus KPI. The group-wide relevant bonus KPI was EBITDA unadjusted. RPI was for a defined group of Executives (including Business Leaders) at Deutsche Telekom Group. It was a four-year plan, running from 2018 to 2021. If the target achievement was met in two consecutive years as defined in the policy regarding the RPI, the first year was only considered as the year of eligibility. HUF 975 million was recognized as expenses on RPI in 2021 that fully paid out in 2022. The amount of the bonus payout depended on Management level, target achievement of the segment and the number of years of consecutive overperformance. The program ended in 2021, with final pay-outs in 2022. 20.1.5 Termination benefits Termination benefits are payable whenever an employee’s employment is terminated before the nominal retirement date or whenever an employee accepts voluntary redundancy in exchange for these benefits. The Company recognizes termination benefits when it is demonstrably committed to either terminate the employment of current employees according to a detailed formal plan without the possibility of withdrawal or to provide termination benefits as a result of an offer made to encourage voluntary redundancy. 20.2 Employee-related balance in the Statement of financial position Liabilities payable on incentive plans and termination benefits recognized as provision in the statement of financial position and annual movements for 2022 and 2021 disclosed in Note 13.2. Short-term liabilities on employee benefits (Salaries and wages) as of 2022 and 2021 presented in Note 14.

237 20.3 Employee-related expenses in the Statements of profit or loss and other comprehensive income 2021 2022 Short-term benefits (Note 20.1.1) ................................................................... 56,871 57,933 Termination benefits (Note 20.1.5) .................................................................. 1,927 1,449 Equity-settled share-based compensations (Note 20.1.2.1)...................... 31 44 Cash-settled share-based compensations (LTI) (Note 20.1.2.2) ............... 446 808 Cash-settled compensation (GCI) (Note 20.1.3) .......................................... - 242 Cash-settled compensation (RPI) (Note 20.1.4) ........................................... 975 - Total before capitalization ....................................................................... 60,250 60,476 Expenses capitalized ........................................................................................... (4,150) (4,009) Total ........................................................................................................... 56,100 56,467 Total costs expensed in relation to defined contributions (including social security contribution) ............................................................................................ 8,208 7,493 Average number of employees (full time equivalent) ..................................... 5,042 4,938 Closing number of employees (full time equivalent) ...................................... 4,947 4,868 Capitalized expenses represent the employee related costs incurred in connection with developments and recognized as a cost of an intangible or tangible assets. 21 OTHER OPERATING EXPENSES 2021 2022 Cost of other purchased services ..................................................................... (a) 35,327 33,090 Utility tax ............................................................................................................... 7,187 7,241 Marketing expenses ............................................................................................ 6,737 7,104 Energy costs ......................................................................................................... 5,819 6,142 Other operating expenses .................................................................................. 8,655 9,725 Total ........................................................................................................... 63,725 63,302 Research as well as marketing costs are expensed as incurred. The Company did not recognize research and development among other operating expenses in 2021 and 2022. (a) Audit costs included in other purchased services Cost of other purchased services, among others, include expenses incurred in relation to the audit of the separate and consolidated financial statements of Company as well as other services which were settled in 2022 with Deloitte Könyvvizsgáló és Tanácsadó Kft. (Deloitte), while in 2021 with PricewaterhouseCoopers Könyvvizsgáló Kft. (PwC) as follows. 2021 2022 Audit of the financial statements ..................................................................... 313 364 Other audit-related fees ..................................................................................... 5 1 Other non-audit-related fees* ........................................................................... 105 27 Total expenses paid to PwC/Deloitte ...................................................... 423 392 *Services provided by PwC in the first quarter of 2022 and their fees. Audit of the financial statements is the aggregate fees of PwC and Deloitte in connection with the audit of the annual financial statements and services performed in relation to legal obligations and submissions required by regulatory

238 provisions. Review of the quarterly financial statements is also included, as well as information systems and procedural reviews and testing to understand and place reliance on the systems of internal control. Other audit-related services mainly include cost of other professional auditing services provided by the Auditor beyond the audit of the financial statements, as well as fees of other audit procedures necessary for meeting the reporting requirements arising from relevant legislation and internal regulations applicable to the Company. Other non-audit related fees are fees primarily related to consulting services and services like participation by Magyar Telekom employees in conferences and training sessions. 22 OTHER OPERATING INCOME 2021 2022 Gain on the sale of PPE, Intangible assets and assets held for sale - net .... 474 332 Income received for the relocation of own network ........................................ 901 914 Other ......................................................................................................................... 1,886 3,331 Total .............................................................................................................. 3,261 4,577 23 INTEREST INCOME 2021 2022 Interest income on receivables and loans....................................................... 326 1,589 Unwinding of interest component of provisions ........................................... - 17 Interest income from finance leases ................................................................ 289 284 Dividend income .................................................................................................. - 1 Total ........................................................................................................... 615 1,891 24 INTEREST EXPENSES 2021 2022 Interest expense on lease liabilities .................................................................... 5,696 5,972 Interest expense on frequency fee liabilities..................................................... 5,068 4,687 Interest expense payable on loans to related parties ...................................... 1,078 4,568 Other interest expense .......................................................................................... 1,371 3,048 Interest components of provisions ...................................................................... 654 579 Borrowing costs capitalized ................................................................................. (157) (267) Total .............................................................................................................. 13,710 18,587 Borrowing costs include interest and other costs that the Company incurs in connection with the borrowing of funds. Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset form part of the cost of that asset. The borrowing costs eligible for capitalization of general borrowings that are used for the purpose of obtaining qualifying assets are capitalized applying the weighted average of the borrowing costs applicable to the general borrowings of the Company that are outstanding during the period. For further information see Notes 9.1 and 10.1. A qualifying asset is an asset that necessarily takes a substantial period of time, in general over 12 months, to get ready for its intended use. Other borrowing costs are recognized as an expense. Total Interest expenses is shown net of borrowing costs capitalized using average borrowing rates of 0.67%-2.34% in 2022 (2021: 0.47%-1.14%). When calculating the borrowing rates, Other finance expenses (included in Note 25) are also considered.

239 25 OTHER FINANCE EXPENSES – NET 2021 2022 Net foreign exchange losses / (gains) on financial instruments .......................... 1,684 23,193 Other net foreign exchange losses / (gains)............................................................. 227 (403) Fee expense .................................................................................................................... 4,923 4,871 Losses / (gains) on the subsequent measurement of financial assets fair value through profit and loss (other than derivatives) .......................................... ........................................................................................................................................... 11 (107) Losses / (gains) on the subsequent measurement of financial liabilities at fair value through profit and loss (other than derivatives) .......................................... ........................................................................................................................................... 14 (9) Losses/(gains) on the subsequent measurement of derivatives contracted with related parties ....................................................................................................... (6,972) (20,449) Total .................................................................................................................... (113) 7,096 The significant foreign exchange loss on financial instruments in 2022 is due to the dramatical weakening of HUF exchange rates. Major part of the foreign exchange exposure is covered by derivatives; therefore the negative foreign exchange impact of the HUF movement is partially offset. The high amount of gains on the subsequent measurement of derivatives contracted with related parties in 2022 beyond the foreign exchange movement effect, was due to the considerable increasing of HUF interest environment. During 2021 the market condition changes were different, as HUF exchange rate had lower volatility and slightly weakened against EUR, however the HUF interest rates started growing, furthermore in 2021 the volume of derivatives was different. 26 RESULTS OF INVESTMENTS Dividends declared by the subsidiaries to be paid to the Company, any gain or losses on the sale of a subsidiary and any impairment losses arising on a subsidiary charged as of the financial statement dates are presented in the profit for the year as a result from investments. The following table shows the results from the Company’s investments related to years 2021 and 2022: 2021 2022 T-Systems Magyarország Zrt. ....................................................................... - 5,000 Stonebridge A.D. . ............................................................................................. 4,085 4,838 Cecoin Kft. ………………………………………………………………………………………………. - 3,121 Investel Kft. ....................................................................................................... 1,000 - Other ................................................................................................................... 643 842 Total dividend received ......................................................................... 5,728 13,801 Impairment loss on Cecoin Kt. ...................................................................... - (3,133) Total results from investments ............................................................. 5,728 10,668 Dividends receivable by the Company are recognized as a receivable and income in the period in which the dividends are approved by the general meeting of the investees. The Company did not sell any of its subsidiary either in 2022 nor in 2021. For more information on impairment see Note 3.2.2.

240 27 EARNINGS PER SHARE (EPS) Basic earnings per share is calculated by dividing profit attributable to the owners of the Company for the period by the weighted average number of common stocks outstanding. Furthermore, the weighted average number of common stock outstanding is determined by deducting the weighted average number of treasury shares held by the Company. All figures are presented in the Statements of profit or loss and other comprehensive income. There was no transaction resulting dilutive shares in the reported periods therefore the presented basic and diluted EPS are equal in 2021 and 2022. The Company is subject to preparation of a consolidated annual report, so disclosures related to the EPS indicator (based on IAS 33) are shown based on consolidated financial statements. 28 PURCHASE OF PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS The table below shows the reconciliation of investments in property, plant and equipment and intangible assets and the cash payments made for these investments. Capitalized borrowing costs are included in the Investments in PPE and intangible assets, where applicable. 12.31.2021 12.31.2022 Investments in property, plant and equipment (Note 9) .......................... 66,274 84,438 Investments in Right-of-use assets ............................................................... (a) 24,230 29,781 Investments in intangible assets (Note 10) ................................................. 104,692 19,024 Total investments in PPE and intangible assets ................................... 195,196 133,243 Capitalized asset-related grant ..................................................................... (b) (1,279) (2,662) Capitalized frequency fee payable ................................................................ (c) (83,075) - Change in Right-of-use assets ....................................................................... (24,230) (29,781) Change in trade payables relating to capital expenditures ..................... (d) 3,338 (7,688) Recognition / (Derecognition) of investment tax credit ........................... (e) 2,393 1,788 Cash payments for purchases of PPE and intangible assets ............... 92,343 94,900 (a) For further information, please see Notes 9.2, 17. (b) In 2022 HUF 2,669 million is paid by the government. It is presented in Notes 4.2.4.2 and see also Notes 9 and 14 for government grants relating to the purchase of PPE. (c) The present value of the frequency fees is capitalized as part of the intangible asset (Licenses) if the future payments can be reliably estimated, however, these fees are paid in cash in subsequent periods. The cash payments on the discounted liability are included in the Repayment of lease and other financial liabilities line of the Financing cash flow, while the interest payments accruing on the discounted liability are included in the Interest and other financial charges paid line of the Operating cash flow. The significant license acquisitions are described in Notes 10.5 and 34.2. (d) Change in payables relating to capital expenditures includes the effect that the actual cash settlement of the vendor invoices is made subsequent to the recognition of the investment. (e) For further information see Note 6. 29 PURCHASE OF SUBSIDIARIES In 2022, the Company has exercised its call option on the business quota of Cecoin Kft. for a purchase price of HUF 6,950 million. There were no payments on acquisitions considered as a subsidiary or a business combination in 2021.

241 30 CONTINGENT ASSETS AND LIABILITIES 30.1 Contingent assets A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the occurrence of uncertain future events not within the control of the Company. These assets are not recognized in the statements of financial position. The Company has no contingencies where the inflow of economic benefits would be probable and material. 30.2 Contingent liabilities No provision is recognized for contingent liabilities. A contingent liability is a possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events (excluding executory contracts) not wholly within the control of the Company; or a present obligation that arises from past events but is not recognized because it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation or the amount of the obligation cannot be measured with sufficient reliability. The most significant contingent liabilities of the Company are described below. No provisions have been recognized for these cases, as management estimates that it is unlikely that these claims originating from past events would result in any material economic outflows or the amount of the obligation cannot be measured with sufficient reliability. 30.2.1 Guarantees Magyar Telekom is exposed to risks that arise from the possible drawdown of guarantees, for which see more details in Note 4.5.4. 31 PURCHASE COMMITMENTS 31.1 Property, plant and equipment and intangible assets The table below summarizes Magyar Telekom’s contractual purchase commitments for property, plant and equipment and intangible assets with the majority falling due within two years. 12.31.2021 12.31.2022 Property, plant and equipment ............................................................................ 739 11,725 Intangible assets ..................................................................................................... 3,725 1,033 Total .............................................................................................................. 4,464 12,758 31.2 Investments As at December 31, 2022 and 2021 the Company had no committed business combinations. 32 RELATED-PARTY TRANSACTIONS Related parties of the Company include legal entities and persons that are related to the Company. A person or a close member of that person's family is related to the Company if that person: ▪ has control or joint control of the reporting entity; ▪ has significant influence over the reporting entity; or ▪ is a member of the key management personnel of the reporting entity or of a parent of the reporting entity.

242 An entity is related to a reporting entity if any of the following conditions apply: ▪ The entity and the reporting entity are members of the same group (which means that each parent, subsidiary and fellow subsidiary is related to the others). ▪ One entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of a group of which the other entity is a member). ▪ Both entities are joint ventures of the same third party. ▪ One entity is a joint venture of a third entity and the other entity is an associate of the third entity. ▪ The entity is a post-employment benefit plan for the benefit of employees of either the reporting entity or an entity related to the reporting entity. If the reporting entity is itself such a plan, the sponsoring employers are also related to the reporting entity. ▪ The entity is controlled or jointly controlled by a person related to the entity or such a person holds a key position in the reporting entity. ▪ The entity, or any member of a group of which it is a part, provides key management personnel services to the reporting entity or to the parent of the reporting entity. The transactions with related parties are priced at arm’s lengths basis. 32.1 Related-party transactions in the Statements of financial position The tables below summarize the carrying amount of assets and liabilities arising from the significant transactions with related parties as of December 31, 2021 and 2022: 12.31.2021 Trade receivables Other receivables (advances) Financial receivables Derivative financial instruments Lease receivables Trade payables Financial liabilities Lease liabilities Parent .................................. 785 - - 16,715 - (3,640) (128,445) - Subsidiaries ......................... 1,601 154 3,023 - 4,994 (10,340) (8,432) (8,570) Associates and joint ventures ............................... - - - - - - - - Other related parties ......... 2,337 57 - - - (5,673) 27 - Total .................................. 4,723 212 3,023 16,715 4,994 (19,653) (136,850 ) (8,570) 12.31.2022 Trade receivables Other receivables (advances) Financial recei- vables Derivative financial instruments Lease recei- vables Trade payables Financial liabilities Derivative financial liabilities Lease liabilities Parent ......................... 719 - 1 31,723 - (3,031) (163,725) (2,035) Subsidiaries ................ 2,295 298 1,142 - 2,647 (5,967) (20,320) - (5,382) Associates and joint ventures ...................... - - - - - - - - - Other related parties . 4,509 66 - - - (6,400) (176) - - Total .......................... 7,523 364 1,143 31,723 2,647 (15,398) (184,221) (2,035) (5,382) In 2022 HUF 9,290 million dividend was paid to DT AG for the business year 2021 (in 2021 HUF 9,262 million). Lease receivables include the lease of a part of the Magyar Telekom headquarters to T-Systems Magyarország Zrt. Based on the impairment test no impairment was recognized for receivables from related parties in the reported years.

243 32.2 Related-party transactions in the Statements of profit or loss and other comprehensive income The tables below summarize the significant transactions with related parties as of December 31, 2021 and 2022: 12.31.2021 Revenue from services Direct cost of services Goods and services purchased Dividend received Interest expense Swap loss/gain FX loss/gain Parent ..................................... 1,969 (520) (3,116) - (455) 6,972 (1,348) Subsidiaries ........................... 4,657 (7,031) (5,969) 5,729 (482) - (46) Associates and joint ventures ................................. 2 - - - - - - Other related parties ............ 10,100 (8,991) (3,282) - (487) - 1,045 Total .................................... 16,728 (16,542) (12,367) 5,729 (1,424) 6,972 (349) 12.31.2022 Revenue from services Direct cost of services Goods and services purchased Dividend received Interest expense Swap loss/gain FX loss/gain Parent ..................................... 2,209 (303) (3,991) - (2,616) 20,450 (13,693) Subsidiaries ........................... 5,524 (11,564) (3,661) 13,801 (2,140) - (252) Associates and joint ventures ................................. - - - - - - Other related parties ............ 10,929 (9,636) (2,793) - (29) - - Total .................................... 18,662 (21,503) (10,445) 13,801 (4,785) 20,450 (13,945) 32.3 Transactions with Deutsche Telekom Group and the Federal Republic of Germany 32.3.1 Deutsche Telekom Group Deutsche Telekom AG is the ultimate (indirect) controlling owner of Magyar Telekom, holding 61.39% of the Company’s shares. Deutsche Telekom Group has a number of fixed-line, mobile and IT service provider subsidiaries worldwide, with whom Magyar Telekom has regular transactions. 32.3.2 The Federal Republic of Germany The Federal Republic of Germany is both a direct and an indirect shareholder and holds approximately 30.5% of the share capital of DT AG. Due to the average attendance at the shareholders’ meetings in previous years, the Federal Republic of Germany represents a solid majority at the shareholders’ meetings of DT AG, although it only has a minority shareholding, making DT AG a dependent company of the Federal Republic. Therefore, the Federal Republic and the companies controlled or jointly controlled by the Federal Republic are classified as related parties of DT AG, and consequently of Magyar Telekom as well. DT AG and Magyar Telekom did not execute, as part of its normal business activities, any transactions that were individually material in the 2022 or 2021 financial year with companies controlled or jointly controlled by the Federal Republic.

244 32.4 Board and Supervisory Board members 12.31.2021 12.31.2022 Remuneration of the members of the Board of Directors* ...................................... 22 26 Remuneration of the members of the Supervisory Board ........................................ 37 37 Loans granted to the members of the Board of Directors ........................................ - - Loans granted to the members of the Supervisory Board ........................................ - - *Exemption for the independent members, members of the Board of Directors waived their remuneration or offered their remuneration for charity. The honorarium offered for charitable purposes is HUF 8.4 million in 2022 (HUF 5.4 million in 2021). 32.5 Key management personnel Key management has been identified as the members of the Company’s Chief Officers. The Chief Executive Officer (CEO) and the other Chief Officers (Chief Officers) together fulfill the Chief Operating Decision Maker (CODM) function in the Company. The table below shows, in total, the compensation expenses (including social security and other payroll-related taxes) incurred by the Company in relation to the key management. 12.31.2021 12.31.2022 Salaries and other employee benefits .......................................................................... 1,152 1,264 Contractual termination expense .................................................................................. - 1 Share-based payments (Note 20) ................................................................................. 20 32 1,172 1,297 Costs expensed in relation to defined contribution plans (including social security contribution) ...................................................................................................... 157 162 Detailed information on the remuneration of the Board of Management and the Supervisory Board is published in the separate remuneration report. The Company did not provide loans or guarantees to its key management. 32.6. Guarantees provided by the Company for liabilities of related parties and guarantees provided by related parties for liabilities of the Company 32.6.1 Bank guarantees Bank guarantees for subsidiaries issued by Magyar Telekom in the name of the subsidiaries and it pays the related fees for the bank. In the case of guarantee drawdown the Magyar Telekom’s bank account shall be debited with the amount drawdown/paid. Fees paid by Magyar Telekom reinvoiced within the group. The following table presents the guarantees provided by the Company for liabilities of related parties: Type of the guarantee 31.12.2021 31.12.2022 Bank guarantee ..................................................................................... 1,726 722 For further information see Note 4.5.4.

245 33 REPORTABLE SEGMENTS AND INFORMATION ABOUT GEOGRAPHICAL AREAS 33.1 General information The Group’s segments are reported in a manner consistent with the internal reporting provided to the CODM, the key management of Magyar Telekom Plc. The CODM of Magyar Telekom is responsible for allocating resources to, and assessing the performance of, the operating segments on a monthly basis. Magyar Telekom Group’s operating segments are: MT-Hungary and North Macedonia. For further information on reportable segments see Note 33 in the Consolidated Financial Statements. 33.2 Information about geographical areas Considering that Magyar Telekom provides its services within the boundaries of Hungary and the base of geographical classification is the headquarters of the Company, all the realized revenue by the Company is in the category of Hungary. In a similar manner all tangible assets of the Company are classified as Hungary considering geographical areas (for further information see Note 33 in the Consolidated Financial Statements). 33.3 Information about revenue for group of products and services Revenue from customers for group of similar products and services is disclosed in Note 18.3. 33.4 Information about revenue from major customers None of the Company’s customers represent a significant source of revenue. Revenue from transactions with a single external customer (or group of entities that – knowingly to us – are under common control of a third party or government) do not exceed 10 per cent of the Company’s revenue. 34 REGULATED MARKETS AND PROCEDURES Magyar Telekom’s primary activities are the fixed-line and mobile operations in Hungary. These services are regulated by European and Hungarian legislation. The most important features of the regulation of these services are described below. The regulation of the Hungarian telecommunications markets is primarily based on Act C of 2003 on Electronic Communications (Eht.) and the decrees issued by the President of the National Media and Communications Authority (NRA). The NRA is an independent regulatory body which, in addition to its law enforcement activities, also legislates on the basis of legal authority. Hungary implemented Directive 1972/2018 / EU (EECC) partially by December 21, 2020 (with Section 16 of the Electronic Communications Act being applicable June 30, 2021). The EECC regulates fix and mobile call termination rates in the whole EU/EEA by a Delegated Act, but the legal framework for formerly regulated markets remains largely unaffected by the EECC. 34.1 Access regulation Regulated markets are governed by EU Commission’s recommendations. Parallel to the EECC, the Commission produced a new recommendation replacing Recommendation 2014/710/EU: 2020/2245/EU. The new recommendation only covers two markets: ▪ Wholesale access for mass-market products ▪ Wholesale high-quality access at a fixed location National NRA’s, nonetheless, have the power to diverge from this recommendation. The former Hungarian regulation designates 4 regulated markets, Magyar Telekom is currently designated as an SMP operator (a service provider with significant market power) on all of these.

246 M1: With regards the fix networks’ regulated interconnection (M1) the NRA published its fifth-round market analysis procedure’s resolution on May 15, 2018, according to which, the obligations were extended to a total of 144 telephone service providers. After that, from July 1, 2021, the fixed voice termination rate - regardless of the rate in the effective market decision - is determined by Commission Regulation (EU) 2021/654 on the basis of the EECC, which was HUF 0.2494/minute converted for the year 2022.The latest MARIO and supplementary interconnection service fees came into force on January 1, 2020. M2: The Company is designated as an SMP operator (a service provider with significant market power) in the mobile wholesale call termination market and subject to the Commission Regulation (EU) 2021/654 regarding the termination charge of calls into its network, mobile termination rate (MTR). The rate of the MTR for the year 2022 was HUF 1.6747/minute. The last mobile market resolution was published in two folds: one resolution only contains the SMP designation, with the obligations while with regards to obligations, the NRA delivered a separate resolution. M3: Magyar Telekom is Hungary’s leading fixed-line broadband service provider in the wholesale market and one of the leading ones in the retail market. In accordance with the effective resolution, all retail fixed products shall be ‘reproducible’ by competitors based on the wholesale service. Consequently, the full retail portfolio shall have a wholesale equivalent. Previous regulation defined a retail minus price setting. The NRA published the latest resolutions with regards to markets 3a (M3a) and 3b (M3b) on December 15, 2017. SMP operators are obliged to prepare reference unbundling offer for access to (physical) passive network infrastructure (RUO) and to provide these services when there is a request for them by other telecommunications service providers. The reference offer of each SMP operator must be approved by the NRA. The latest market resolution introduced the geographical segmentation, thus relieving the company of obligations in certain competing settlements. Magyar Telekom was designated as an SMP in both 3a and 3b markets. Service fee calculation for all relevant regulated services – both markets 3a (resolution PC/17915-66/2017.) and 3b (resolution PC/17920-66/2017.) - are with a BU-LRIC+ model. New fees had to be applied as of January 1, 2019. As a novelty the geographically segmented regulation was implemented with the last resolution. As a result, in those settlements where competition bases, Magyar Telekom’s SMP was withdrawn. In the M3a resolution a new service obligation has been introduced, the L2-WAP (Layer 2 Wholesale Access Service) obligation. The NRA has published the latest reference unbundling offer – containing the L2WAP service – through its resolution PC/16593-31/2018. on November 6, 2019. The revised reference offer entered into force on December 1, 2019. The L2-WAP service is to be offered sixth months after the entry into force of the revised reference offer, i.e. June 1, 2020. M4: In the high-quality broadband market (M4) the NRA published its resolution (PC/12186-44/2018.) on February 27, 2019. Magyar Telekom has been designated as the SMP for the “Ethernet leased line termination segment service”. According to the resolution Magyar Telekom is subject to SMP obligations throughout Hungary, providing high-quality access at a regulated cost-based price. 34.2 Spectrum procedures In June 2012, the Hungarian Parliament adopted the modification of the Electronic Communications Law extending the scope of competence and tasks of the NRA. Pursuant to the amendment, all spectrum-related issues are dealt with by the NRA. On December 7, 2004, the Company obtained the spectrum usage right of certain frequency blocks in the 2100 MHz band for the deployment and operation of an IMT2000/UMTS mobile telecommunications system (3G system). The duration of the spectrum license was 15 years (until December 7, 2019) that was extended for another 7.5 years in December 2018 for a one-time fee of HUF 11 billion. The Company won a tender for a spectrum usage right for a 26 GHz block on April 30, 2009. On May 14, 2012 the NRA granted spectrum license to Magyar Telekom for four pieces of basic spectrum blocks (4 x 2 x 28 MHz each) in the 26 GHz band. Furthermore, Telekom acquired GTS Hungary Ltd.’s two blocks in the 26 GHz band for HUF 114.6 million HUF net, and has a usage right for it from November 1, 2016. Blocks purchased in 2009 were extended in 2018. The Company filed an auction bid in December 2011 with the NRA for the right of use of unused spectrum in the 900 MHz frequency band, related to the provision of mobile telecommunications services. The spectrum can be utilized in a technology-neutral manner. The NRA announced its first-instance decision on the result of the 900 MHz auction (Auction) on January 30, 2012. Magyar Telekom won the right of use of two duplex frequency blocks of 1 MHz each for a period of 15 years.

247 On September 6, 2013 Magyar Telekom and the NRA signed the modification of the Authority Contract on the use of the 900 MHz and 1800 MHz frequency bands. The main stipulations of the modification are the following: On May 22, 2014, the NRA published the “Documentation for the tender announced in the subject of spectrum licenses for broadband services”. Blocks in 800 MHz / 900 MHz / 1800 MHz / 2600 MHz and 26 GHz frequency bands were auctioned. On September 29, 2014 the NRA published the tender results so that Magyar Telekom acquired the following frequencies for an aggregate amount of HUF 58,650 million: ▪ 2 x 10 MHz in 800 MHz ▪ 2 x 2 MHz in 900 MHz ▪ 2 x 30 MHz in 2600 MHz ▪ 2 x 10 MHz in 1800 MHz. On October 15, 2014 Magyar Telekom and the NRA signed the Authority Contract on the use of the 800 MHz, 900 MHz and 1800 MHz frequency bands that came into force right on that day. For the new bands the frequency license and radio permission were issued on October 17, 2014 to Magyar Telekom. As a result of the last tender Magyar Telekom acquired frequency usage rights in the above listed spectrums till June 15, 2029. The Authority Contract can be extended another five years if all requirements defined in the contract are met. On July 18, 2019, the NRA published the “Documentation for the auction announced in the subject of spectrum licenses for 5G services”. Blocks in the 700 MHz / 2100 MHz / 2600 MHz and 3600 MHz frequency bands were auctioned. On March 26, 2020 the NRA published the bidding results of the auction so that Magyar Telekom acquired the following frequencies for HUF 54,240 million: ▪ 2 x 10 MHz in 700 MHz ▪ 2 x 10 MHz in 2100 MHz ▪ 1 x 120 MHz in 3600 MHz. As a result of the auction Magyar Telekom acquired frequency usage rights in the above-listed spectrums till April 3, 2034. The usage rights can be extended another five years if all requirements defined in the documentation are met. On October 16, 2020, the NRA published the “Documentation for the auction announced in the subject of spectrum licenses for 900 MHz and 1800 MHz bands”. Usage rights shall be valid for 15 years starting from April 2022 and might be extended another five years if all requirements defined in the documentation are met. Magyar Telekom submitted its participation request on November 10, 2020. Six lots of 2 x 5 MHz blocks were sold in the 900 MHz band, and 12 lots of 2 x 5 MHz blocks were sold in the 1800 MHz band. Magyar Telekom acquired 2 x 8 MHz in the 900 MHz spectrum band while 2 x 20 MHz in the 1800 MHz spectrum band. On November 8, 2022, the NRA published the draft documentation of the planned auction procedure to be announced for the entitlements to the radio spectrum use of the 32 GHz frequency band and a call for consultation that was held on November 22, 2022. 34.3. Universal services Universal services are basic communications services (including access to communication services at a fixed location, public payphones, directory and directory enquiry services) that should be available to all customers at an affordable price. The NRA published its request for voluntary universal service provisioning on January 19, 2018. MT did not bid on any parts of the universal services, so the NRA designated Magyar Telekom to offer the following universal services from January 1, 2019: public payphones, access on fixed location and for national directory enquiry service. As a result of the procedure Magyar Telekom lost two primary areas to serve (Szekszárd – nr74 and Paks – nr75) and received a new one (Szeged - nr62). The EECC brings a new framework in universal services as well – Magyar Telekom was able to let go of some of the obscure obligations of the past (printed directory), while Hungary will have to ensure affordable and available internet access to consumers. This obligation obligation will likely affect Magyar Telekom, with a decision on the specific content of the service is still to be delivered by the NRA.

248 34.4. End-user rights Since June 30, 2007, an EU regulation has been regulating international roaming tariffs for wholesale and retail customers on the basis of a price cap system. The first EU roaming regulation prescribed a glide-path that mandated annual reductions of wholesale and retail prices. (EU Roaming Regulation I.) As of July 2009. the EU also introduced regulated tariffs for SMS and data roaming similarly to the regulation of voice roaming. (EU Roaming Regulation II.) As of July 1, 2012. the EU further broadened the European roaming regulation with a new regulatory measure: separate sales of regulated roaming services. As a result, Magyar Telekom had to implement the technical possibility to host an Alternative Roaming Provider in its network and also it allows its own customers to use Local Break-out solutions within the EU offered by a foreign EU member country’s mobile operator from July 1, 2014. (EU Roaming Regulation III.) The actual EU roaming regulation - “Full Roam Like At Home With Fair Use Policy Possibility” - is applied from June 15, 2017. (EU Roaming Regulation IV.). As a result, European retail roaming price levels for voice, SMS and data are equal to domestic prices since summer 2017. The Commission implementing regulation (EU) 2016/2286 of December 15,, 2016 laid down detailed rules on the application of fair use policy and on the methodology for assessing the sustainability of the abolition of retail roaming surcharges and on the application to be submitted by a roaming provider for the purposes of that assessment. In addition, the Company has implemented, by the required deadline of May 15, 2019, Regulation (EC) No 2018/1971 of the European Parliament and of the Council supported by BEREC and BEREC Office, and according to the modified Regulation (EU) 2015/2120, taking into account the withdrawal decision of regulation 1211/2009/EC regulation, the reduction of charges for international calls and SMSs to member states of the European Union. The EECC affected all customer relations of Magyar Telekom and it is prepared for compliance with serious IT- developments as well as changes in the processes. 35 EVENTS AFTER THE REPORTING PERIOD There were no significant events after the reporting period. Budapest, February 22, 2023

251 SUMMARY ON 2022 OPERATIONS Since the Company is the parent company of Magyar Telekom Group, therefore the Summary on 2022 operations related to Magyar Telekom Group is presented below. Financials Magyar Telekom delivered revenue and EBITDA AL results overperforming the targets communicated for 2022 thanks to the successful monetization of its quality networks coupled with appealing service offerings. Group revenue rose by 7.8% year-on-year to HUF 746.7 billion and EBITDA AL reached HUF 221.5 billion representing a 2.4% increase year-on-year. In 2022, CAPEX after lease excluding spectrum licenses grew to HUF 126.7 billion, reflecting the further acceleration in network related investments to meet customer demand, in both Hungary and North Macedonia. As a result of that and the introduction of the supplementary telecommunication tax in Hungary free cash flow excluding spectrum licenses amounted to HUF 50.9 billion in 2022. Network In 2022, Magyar Telekom continued its flagship investments in both country of operation which aim to provide its customers with an outstanding network that they require and appreciate, whether they are at home or on the move. Fiber roll-out program in Hungary proceeded with pace, with close to 380 thousand further access points added to its gigabit network, thus making the Group able to provide gigabit speed at more than 3.4 million access points in Hungary by the end of the year. This translates to over 75% of its fixed infrastructure. Magyar Telekom also made strong progress in the comprehensive mobile radio network modernization project allowing it to meet the surging mobile data demand as well as to steadily expand 5G. In North Macedonia the Group completed the modernization of the whole network whilst in Hungary over half of the mobile network has gone through the modernization process by the end of 2022. In addition to the progress with RAN modernization in Hungary, the 3G network retirement was executed supporting the transition from legacy technology towards more energy efficient infrastructure, allowing the Group to increase throughput capacities by redeploying relevant frequency bands to deliver 4G and 5G services. Magyar Telekom also successfully secured some new frequencies in the 700 megahertz and 3.6 gigahertz bands in North Macedonia in July 2022, enabling the introduction of gigabit speed 5G service in this market as well. Customers The Group’s efforts to provide outstanding infrastructure, excellent service and tailor-made solutions to its customers led to continued increase in customer satisfaction, reflected in the sustained positive momentum in its customer base: fixed broadband subscriber base expanded by 7% and by now over 1.2 million broadband customers are connected via a gigabit capable technology to its network. On the mobile side, data consumption continued to rise sharply; the average monthly mobile data usage per customer rose by over 25% year-on-year to 10 GB. Both of these developments strongly supported value creation; ARPUs in all of the major service categories continued to grow throughout 2022. Resilience In parallel to the above positive commercial developments, however, the supplementary telecommunication tax and other external headwinds driving cost inflation intensified in 2022, making the company’s efficiency measures vital for protecting its profitability. In this context, the Group implemented a price increase across certain residential and business contracts during the year, whilst the Group’s right to inflation-based price adjustment, to be first implemented as of March 1, 2023, in now in force across its customer contracts. Furthermore, to ensure uninterrupted energy supply and mitigate risks associated with energy price volatility, the Group took further steps to diversify its energy sources by securing both traditional and renewable energy contracts on a short- and long-term basis.

253 1 THE COMPANY’S SHARE CAPITAL, VOTING RIGHTS AND TRANSFER OF SHARES As of December 31, 2022, the share capital of Magyar Telekom Plc. was HUF 100,580,135,200, consisting of 1,005,801,352 Series “A” dematerialized ordinary shares. All Series “A” ordinary shares have a nominal value of HUF 100. Rights and obligations related to Series “A” ordinary shares are described in detail in Section 4 of the Articles of Association (http://www.telekom.hu/about_us/investor_relations/corporate_governance/corporate_governance_documents ). On June 23, 2022, the Court of Registry registered the Company’s capital decrease that was decided upon at its Annual General Meeting held on April 12, 2022. The Company’s share capital consequently was decreased from HUF 104,274,254,300 to HUF 100,580,135,200 with the cancellation of 36,941,191 pieces of dematerialized series “A” ordinary shares, owned by the Company (treasury shares), each with the face value of HUF 100. Information concerning its ownership structure as of December 31, 2022, is described in the following table: Shareholder Number of shares Percentage of share capital Deutsche Telekom Europe B.V. ............................................................... 617,436,759 61.39 Publicly traded ............................................................................................ 345,285,760 34.33 Treasury shares ........................................................................................... 43,078,833 4.28 1,005,801,352 100.00 Deutsche Telekom Europe B.V. owning 64.13% of the Company’s voting rights is a member of the Deutsche Telekom Group. The ultimate controlling parent of Magyar Telekom is Deutsche Telekom AG (DT or DT AG). Deutsche Telekom Europe B.V. does not have different voting rights than our other shareholders and, as with our other shareholders, Deutsche Telekom Europe B.V. is entitled to one vote per each ordinary share that it owns. 1.1 Voting Rights and Voting The holder of each Series “A” ordinary share shall be entitled to one vote at the General Meeting of the Company. The names of shareholders and nominees who intend to participate at the General Meeting shall be registered in the Share Register on the second working day prior to the starting date of the General Meeting. The General Meeting shall adopt its resolutions by a simple majority vote except for resolutions on issues listed in the Articles of Association, which shall require at least a three-quarters majority of the votes cast. There is no limitation on the rights of non-resident or foreign shareholders to hold or exercise voting rights on the ordinary shares. There is no limitation of voting rights for ordinary shares in the Articles of Association. The Company has no shares assigned with special management rights. 1.2 Transfer of Shares For the transfer of dematerialized shares, a contract for transfer or other legal title is required and, in that context, the transferor’s securities account shall be debited, and the new holder’s securities account shall be credited with the transferred dematerialized shares. The holder of dematerialized shares shall be considered the holder of the securities account on which the dematerialized shares are recorded. The transfer of any Series “A” ordinary shares is not bound to any restriction or attainment of agreement. 2 CORPORATE GOVERNANCE 2.1 Annual General Meeting The General Meeting has the exclusive right to approve and amend the Articles of Association (section 5.2. (a)) unless otherwise provided by law or the Articles of Association. According to the Articles of Association, the Board of Directors is entitled to make decisions regarding any change in the registered seat, sites, branch offices and – except for the main activity – the scope of activities of the Company and in relation to this, to modify the Articles of Association (section 6.4.(p)).

254 2.2 Board of Directors The Board of Directors operates based on its Rules of Procedure (https://www.telekom.hu/about_us/investor_relations/corporate_governance/board_of_directors ). The Board of Directors is responsible for all matters relating to the Company’s management and course of business not otherwise reserved to the General Meeting or to other corporate bodies by the Articles of Association or by the laws. The Board of Directors draws up, at the end of each business year, a report for the General Meeting and quarterly to the Supervisory Board on the management of the Company, the assets of the Company, the financial situation of the Company and the business policy of the Company. The rules of competence regarding the capital increase and purchase of treasury shares are detailed in Sections 5.2 (b) and (p) as well as 6.4. (l) and (m) of the Articles of Association. The General Meeting with its Resolution No. 11/2022 (IV.12.) authorized the Board of Director to purchase Magyar Telekom ordinary shares for 18 months starting from the date of approval of the resolution. The relevant resolution is available on the General Meetings section of the Company’s website. Pursuant to the Articles of Association, the Board of Directors consists of a minimum of five and a maximum of eleven members elected by the General Meeting for a term of three years, unless otherwise provided by the General Meeting. On December 31, 2022, the Board of Directors had eight members. Meetings of the Board of Directors are held at least four times a year. Meetings of the Board of Directors require the presence of at least the majority of the members for a quorum. Each member of the Board of Directors has one vote. The Board of Directors passes resolutions by a simple majority vote. On December 31, 2022, members of the Board of Directors, their principal occupation and the years of their original election were as follows: Name Born Principal Occupation Member since Dr. Robert Hauber ........................ 1971 Senior Vice President Group Controlling, Deutsche Telekom AG, Chairperson of the Board of Directors of Magyar Telekom Plc. 2017 Daria Aleksandrovna Dodonova… 1976 Chief Financial Officer of Magyar Telekom Plc. 2020 Gábor Fekete……………………………. 1950 Consultant 2020 Elvira Gonzalez ............................. 1975 Senior Vice President B2B Europe, Deutsche Telekom AG 2022 Frank Odzuck ................................ 1959 Chief Executive Officer of Zwack Unicum Plc. 2006 Péter Ratatics ............................... 1982 President of the Management Board of INA d.d., Consumer Services Executive Vice President of MOL Group 2019 Tibor Rékasi ................................... 1973 Chief Executive Officer of Magyar Telekom Plc. 2018 Melinda Szabó .............................. 1971 Senior Vice President B2C Europe, Deutsche Telekom AG 2022 The members’ assignment lasts until May 31, 2025.

255 2.3 Management As part of the corporate governance simplification initiative, the Board of Directors of Magyar Telekom resolved to cease the activity of the Management Committee established in 2000 as a formal corporate decision-making body with effect from January 1, 2020. The tasks and responsibilities of the Management Committee have been re-allocated to the Chief Officers and to the Board of Directors of the Company. As a result of this change, the Management Committee transformed into an agile „Leadership Squad”. On December 31, 2022, the members of the Management and the years of their original election were as follows: Name Born Current position Member since Tibor Rékasi ......................................... 1973 Chief Executive Officer of Magyar Telekom Plc. 2013 Daria Aleksandrovna Dodonova ...... 1976 Chief Financial Officer 2020 Zoltán Pereszlényi .............................. 1978 Chief Commercial Officer 2022 Zsuzsanna Friedl ................................. 1977 Chief People Officer 2017 Gábor Gonda ....................................... 1976 Chief Commercial Officer Enterprise, Chief Executive Officer of T-Systems Hungary Ltd. 2020 Lubor Zatko .......................................... 1974 Chief Technology and IT Officer 2019 2.4 Supervisory Board The Supervisory Board carries out its activities based on its Rules of Procedure (https://www.telekom.hu/about_us/investor_relations/corporate_governance/supervisory_board). The Supervisory Board shall examine all submissions to be submitted to the General Meeting and present its opinion thereof at the General Meeting. The General Meeting may pass a resolution on a report pursuant to the Accounting Act and the use of the profit after income tax only upon receipt of the written report of the Supervisory Board. The Supervisory Board makes a proposal directly to the General Meeting regarding the election, remuneration and removal of the Statutory Auditor. Pursuant to the Company’s Articles of Association, the Supervisory Board consists of five members (three independent members and two employee representatives) elected by the General Meeting for a term of three years, unless otherwise provided by the General Meeting. The employee representatives in the Supervisory Board shall be nominated by the Central Workers’ Council. Meetings of the Supervisory Board have a quorum if two-thirds of the elected members but at least three members are present. On December 31, 2022, the members of the Supervisory Board, their principal occupation and the years of their original election were as follows: Name Born Principal Occupation Member since Prof. Dr. Attila Borbély................ 1951 Professor Emeritus of University of Debrecen, Faculty of Economics and Business, Chairperson of the Supervisory Board of Magyar Telekom Plc. 2020 Gyula Bereznai………………………….. 1978 Chairman of the Central Workers’ Council, Magyar Telekom Plc. 2022 Krisztina Dorogházi...................... 1972 Senior Vice President Chief Accounting Officer and Controller, TechnipFMC 2020 András Szakonyi ........................... 1973 Senior Vice President – Global Data Centers, Iron Mountain 2020 Endre Szepesi ............................... 1966 Member of the Workers Council, Magyar Telekom Plc. 2022 The members’ assignment lasts until May 31, 2025.

256 2.5 Audit Committee The Audit Committee operates based on its Rules of Procedure (https://www.telekom.hu/about_us/investor_relations/corporate_governance/audit_committee). The members of the Audit Committee have been elected by the General Meeting from the independent members of the Supervisory Board for the same period as their membership in the Supervisory Board. On December 31, 2022, the members of the Audit Committee were as follows: ▪ Prof. Dr. Attila Borbély ▪ Krisztina Dorogházi ▪ András Szakonyi 2.6 Remuneration and Nomination Committee The Remuneration and Nomination Committee is established by the Board of Directors of the Company to support the Board of Directors of the Company regarding the remuneration and certain nomination related issues of the members of the corporate bodies and the top executives of the Company in accordance with its Rules of Procedure (https://www.telekom.hu/about_us/investor_relations/corporate_governance/compensation). The Remuneration and Nomination Committee, among others, makes recommendations to the Board of Directors on the establishment and/or termination of employment, and the modification of the employment contract of the Chief Executive Officer and the Chief Officers, and defines the remuneration of the Chief Executive Officer and the Chief Officers of the Company. The Remuneration and Nomination Committee consists of three members. The members are elected by the Board of Directors from among its members. The Remuneration and Nomination Committee holds at least two meetings each year. On December 31, 2022, the members of the Remuneration and Nomination Committee were as follows: ▪ Dr. Robert Hauber ▪ Elvira Gonzalez ▪ Frank Odzuck 2.7 Corporate Governance and Management Report Magyar Telekom Plc. is a public limited company listed on the Budapest Stock Exchange. In 2004, the Budapest Stock Exchange issued its Corporate Governance Recommendations (the Recommendations) containing recommendations related to the corporate governance practice of companies listed on the Budapest Stock Exchange, taking account of the most commonly used international principles, of experiences gathered in Hungary, and of the characteristics of the Hungarian market as well as the Companies Act. The Recommendations were updated in 2007, 2008, 2012, 2018 and in 2021. The Recommendations effective from time to time is available at the website of the Budapest Stock Exchange: https://bse.hu/Issuers/corporate-governance-recommendations/Corporate-Governance-Recommendations In line with the current regulations, the Board of Directors of Magyar Telekom approved the Corporate Governance and Management Report of the Company (report) prepared in accordance with the Corporate Governance Recommendations and submitted it to the General Meeting. The report – along with other corporate governance related documents - is published in the Corporate Governance section of the website of the Company: http://www.telekom.hu/about_us/investor_relations/corporate_governance/corporate_governance_documents Companies listed on the stock exchange are required to express their views on their corporate governance practices in two ways. In the first part of the report, they have to give account of the corporate governance practices applied by their company in the given business year, including their corporate governance policy, and a description of any unusual circumstances. In the second part of the report, the issuers should give an account on their compliance with each point of the Recommendations in accordance with the "comply or explain" principle, including any reasons for derogating from a specific recommendation and/or proposal. When an issuer does not apply a recommendation or applies it in a different way, they should explain where the differences are and offer a reason for such derogation (‘comply or explain’ principle).

257 This method allows issuers to consider their unique, industry-specific etc. idiosyncrasies and to inform shareholders and market players about their derogations from general corporate governance principles and to provide an explanation. Operating on the same principle, issuers can also explain any derogations from the proposals. Sections 1 to 5 of the above report include the description and operation of the Board of Directors, the Supervisory Board, the relevant committees, and executive management. Section 6 of the report includes a description of the internal controls and risk management procedures, Section 7 gives information on whether the auditor has carried out any activities not related to auditing, while Section 8 of the report describes the disclosure policies and insider trading guidelines. In Sections 9 to 10 the method of exercising shareholders’ right and the rules on conducting the General Meeting is summarized, while Section 11 contains the Remuneration Policy. The Company complies with the vast majority of the 72 recommendations and proposals, however in the business year of 2022 in case of 1 proposal it has not or not completely complied with due to the organizational structure or processes of the Company. In 2022, the Magyar Telekom’s disclosure processes were evaluated in the ICS (Internal Control System) by the relevant organizational units and were tested by the internal audit area. The disclosure controls and procedures of Magyar Telekom were effective and designed to ensure a proper basis for the timely and accurate disclosures to the market participants required under the respective accounting, capital markets and company law regulations. 3 SOCIAL COMMITMENTS, LABOR STANDARDS, HUMAN RIGHTS Some of the key challenges of the sustainability strategy come from the area of human resources management. That is why human resources management has a crucial part in the achievement of its sustainability targets. Its vision is to operate in a corporate environment that is livable, likeable and successful. This set of values strengthens the commitment and satisfaction of the company’s employees and is also attractive on the job market. 3.1 People focus The business strategy of Magyar Telekom is centered around the realization of a digital business model that is based on utilizing new technologies in service of consumer relationship management in order to build trust and drive value creation. To achieve this goal, the human resources organization has been transformed to an even more efficient, agile, customer- focused People Unit in support of the corporate business strategy. Key objectives and key results of people services in 2022: It is worth learning at Magyar Telekom On the basis of staff surveys and feedback, Magyar Telekom continued to expand colleagues' self-development opportunities in 2022. With the development of dedicated learning time and one-stop learning opportunities (tools and content) provided by the employer, the range of opportunities for learning and self-development has further increased. Training opportunities are designed and recommended to ensure that the development opportunities included in the competency feedback are provided to each employee. In 2022, the SmartApp online e-learning platform was launched, providing a single, easily accessible place for each employee to create their own learning journey according to their interests. From the TOP5 skills defined per Unit, specific to and definitive of the area, employees were supported to develop the skill of their choice on 4 different platforms. The online training catalogues, online training materials, online coachbank and mentoring, online knowledge sharing (Share), which are also available to the colleagues on long-term leave due to childbirth, continue to be available with renewed content throughout their absence. Talent magnet employer An attractive workplace is an important feature of the Company, not only on the market but also among the internal workforce. It was therefore a pillar of its strategic objectives for 2022. By attracting talent and shortening the duration of the selection process, Magyar Telekom supported the business areas' needs for workforce refreshment and expansion to support the achievement of their objectives. The Company increased the proportion of employee referrals, shortened the selection time, and improved the number of internal candidates in the recruitment process. During the year, its programmes focused on the results of its internal survey indicators that helped to strengthen employee morale, job referrals and customer focus. We build a caring community The Company considers the health and wellbeing of its employees important.

258 The pandemic has changed the way of working in the office and from home. As a result, the Company has continued to draw on conclusions and prepare for a resilient way of work by rolling out a methodology for a hybrid way of work in all roles that allow such flexibility. In these cases, employees can independently design and decide on the proportion and frequency of their office and home-based work. Energized workforce is key to business success. The Company rely on itself and each other to maintain employees’ physical, mental and emotional wellbeing and they cooperate as partners. Thus, the Company invests in communicating regularly and openly about the importance of maintaining a healthy life balance, and a sustainable and healthy way of life. Employees could attend free health screenings of their choice and company offered regular health and wellbeing expert webinars. The Company also continues to offer employee health and life insurance and have introduced an Employee Assistance Program (EAP) offering 3 hours of free counseling per individual life crisis or pressing issue from legal and financial, to family management or health related issues. In 2022, the Magenta Unity Foundation modified its original objectives to support the Company’s employees and their families who have fallen upon financial hardship due to other extraordinary circumstances, including serious physical or mental illness requiring long-term rehabilitation. Up to the end of 2022, it has provided almost HUF 40 million in support to workers who have made a claim. In addition to the above, the following people management perspectives continued to be emphasized in 2022: Employer brand building – the Company creates a livable and likeable workplace, which is satisfactory for its employees and offers an attractive perspective in the labor market through its future oriented methods of work. The Company puts greater emphasis on using social media solutions in building the brand. Recruitment-selection – The Company uses segment-based online recruitment channels and means to select the best candidate for the specific positions. During the selection process, Magyar Telekom seeks the inclusive attitude and personal traits defined as requirements for future Telekom employees. Remuneration – the Company has a transparent, simpler, and consistent job grading model, which reflects primarily the respective values of jobs, and provides for market comparison, as a basis for a competitive remuneration policy. Digital solutions: the interface of its employee app (MagentApp) was renewed, the login was simplified, and new technology was introduced to pave the way for further improvements and to increase the number of regular users. Quarterly, the Company has worked on employee and manager experience point/process/tool improvements to improve the internal customer experience, which are largely IT system and process improvements. This has included the introduction of a new e-learning system to support self-development, and a revamp of its Reflex employee self-service interface. 3.1.1 Headcount The following table provides information on the number of employees, including full-time equivalents, of Magyar Telekom Plc.: 2021 2022 Magyar Telekom Plc. ........................................................................................................ 4,947 4,868 3.2 Policies 3.2.1 Policies and agreements Code of Conduct https://www.telekom.hu/static-tr/sw/file/Code_of_conduct.pdf The Code of Conduct provides the framework of orientation for all employees of Deutsche Telekom Group and Magyar Telekom Group. Additionally, it applies to people to who are viewed as equivalent to employees in functional terms, e. g. to temporary agency employees. It combines the joint requirement of compliance with legal obligations and acting with integrity and thus ensures that Deutsche Telekom and Magyar Telekom remain transparent and traceable enterprises for everybody. Deutsche Telekom and Magyar Telekom expect their suppliers and consultants to comply with the rules of

259 behavior manifested in this Code of Conduct and to endeavor them to ensure that they are also obliged to abide to its regulation by contract. Code of Human Rights and Social Principles https://www.telekom.hu/static-tr/sw/file/code-of-human-rights-social-principles-eng.pdf The Code of Human Rights and Social Principles as well as the company groups Equal Opportunities Plan in force defines the groups general human rights principles and the provisions for the implementation of these principles. Decision makers of Magyar Telekom are aware that employee diversity is the prerequisite of sustainable and equitable operations enhancing business efficiency and contributing to competitive advantage. Group Diversity, Equity and Inclusion Policy CSOPORT POLITIKA A SOKSZÍNŰSÉGRŐL, AZ ESÉLYEGYENLŐSÉGRŐL ÉS A BEFOGADÁSRÓL (telekom.hu) As part of the Deutsche Telekom Group, Magyar Telekom has renewed its Diversity, Equity and Inclusion (DE&I) Policy in December 2021. The renewed policy defines the company’s global understanding of what characterizes the approach to diversity, equity and inclusion in its interactions with employees. It aims to ensure a consistent work experience, learning and development for every member of the Company, strengthening the sense of belonging and involvement. The framework of the renewed policy details and clarifies its understanding of DE&I through a set of key elements and covers aspects of the work-life cycle that are relevant to the company culture. It addresses social and business responsibility in providing an equitable and inclusive workplace locally within its global framework but respecting local legislation of diverse cultures and local needs. Group Policy on Employee Relations Telekom_Group_policy_on_employee_relations.pdf The opening up of markets, digitalization and globalization have led to an increasingly knowledge-based working world. New forms of networking are changing communication, public impact, reputation and compliance challenges and other key elements of company management. Thus, the company realized a need to renew its definition of how they understand the shared characteristics of employee relations to ensure consistent working experience for every employee. As part of the Deutsche Telekom Group, Magyar Telekom has renewed its Group Policy on Employee Relations in December 2021. It specifies the key elements of its people policy and describes what the company stand for in its relationships with employees, that are characterized by its shared values and derive from a set of values as well as from other group policies. The policy covers all aspects of work life that are relevant to industrial relations and informed by sustainability as a key driver. Suppliers’ Compliance: Magyar Telekom is committed to respect and protect human rights and it expects its suppliers to comply with these rules of behavior. Prior to becoming authorized suppliers of Magyar Telekom must register their enterprises at its vendors’ registration site. https://beszerzes.telekom.hu/beszerzes/portal_en?appid=beszerzes&page=english/registration_vendor.vm As an obligatory part of the registration process vendors are obliged to understand and accept its Suppliers Code of Conduct that among other policies, entails its Code of Conduct, Social Charter, and Diversity Policy. The Company’s suppliers must understand and accept these policies and obligatory frameworks for their behaviors as well. Equal Opportunities Plan Telekom_Equal_opportunities_plan.pdf Anti-discrimination and the safeguarding of equal opportunities is a key priority to Magyar Telekom. According to the act CXXV of 2003 on Equal Treatment and Promotion of Equal Opportunities, and the corporate protocol in place since 2010 Magyar Telekom has accepted its 5 th Equal Opportunities Plan in order to secure the practices of equal treatment, the advancement of equal opportunities and the monitoring an improvement of the labor positions of particular disadvantaged employee groups. The Equal Opportunities plan currently in force is valid between 2021 and 2025 and has been developed in close cooperation with the employee representative bodies.

260 The Diversity Charter of the European Union – Hungary has joined the Diversity Charter of the European Union in 2016 and, among 50 signatory companies Magyar Telekom has also underscored its dedication to safeguard diversity as a fundamental value. Magyar Telekom has been among the signatory companies in in the forthcoming years as well as in 2021. UN Guiding Principles on Business and Human Rights – According to the dedication of Magyar Telekom to safeguard and protect human rights along its operations as stated in the UN Guiding Principles of Business and Human Rights, the Company considers the rights and guidelines stated in the Universal Declaration of Human Rights and in the ILO’s Declaration on Fundamental Principles and Rights at Work to be mandatory in its own practices. UN Human Rights Treaties ratified by Hungary – Magyar Telekom as a corporation legally registered in Hungary is carrying out its entire operations and business practices in full accordance with the nationally ratified UN Human Rights Treaties. http://tbinternet.ohchr.org/_layouts/TreatyBodyExternal/Treaty.aspx?CountryID=77&Lang=EN 3.2.2 Monitoring and auditing practices The group-level coordination of corporate sustainability operations that also incorporate labor standards, social issues and the protection of human rights is being coordinated under the auspices of the Sustainability Committee (SC) from 2021 (previously: Group Sustainability Coordination Council) on the levels of strategy development, governance and operative execution. The SC’s operation is regulated by a group level directive: on the regulation of Magyar Telekom’s sustainability operation and the responsibilities and competence of stakeholders. According to the directive, the SC meets regularly, at least quarterly, to coordinate company and group sustainability tasks effectively, with decisions taken by SC members through voting. The SC provides regular reports and presentations to the Chief Executive Officer (CEO) and the Chief People Officer, on the basis of which they set the main direction of the Magyar Telekom’s sustainability activities and make decisions in related topics, with the input of the members of the Leadership Squad. The operations of the SC are being detailed in the Corporate Governance section of the annual Sustainability Report. Magyar Telekom’s Code of Conduct covers the requirements of corporate compliance and states its collective set of values, and thus stands as an affirmation of the Company’s strong reputation, solid position and future success. The Code of Conduct applies to all board members of Magyar Telekom from employees to managing directors, executives and board members. Furthermore, Magyar Telekom expects its suppliers and consultants to comply with the rules of behavior manifested in this Code of Conduct and to endeavor them to ensure that they are also obliged to abide to its regulation by contract. Magyar Telekom’s Corporate Compliance Program has been elaborated with the aim to ensure that Magyar Telekom conducts its business with maximum consciousness and commitment, in accordance with relevant laws and regulations, in harmony with the strictest possible business ethics standards. The Compliance Program involves the Group Compliance Manager and compliance representatives of particular functional areas of operation, who are working together as members of the Group Compliance Committee. The Compliance Program has been designed to ensure that the Company conducts its business to the highest standards of awareness, transparency, accountability, commitment, and adherence to applicable laws and regulations. External audits could be conducted as part of the control process carried out by the Hungarian Labor Inspectorate. The Inspectorate has the right to issue such an auditing process in case of public complaints or issued requests. The Inspectorate also provides counseling to the corporations in support of legal compliance. 3.3 Results of Policies 3.3.1 Diversity and Equal Opportunities As one of the largest employers in the Hungarian ICT sector Magyar Telekom believes that diversity contributes to the success of businesses and all kinds of organizations to a large extent. This value is also at the core when it comes to the increase of creativity and innovation, to the involvement of new partners, experts and clients, to the quick adaptation to changes and most of all, to the compliance with the legal obligations of non-discrimination in all corporate operations. Magyar Telekom and the employee representative bodies have accepted the 5th Equal Opportunities Plan of Magyar Telekom for the period 2021-2025. The corporate Equal Opportunities Plan addresses actions and procedures to improve

261 the labor conditions and career perspectives of vulnerable employee groups such as women, employees with families, employees on child-care leave, employees living with disabilities, recent graduates and 50+ employees. The corporate diversity and inclusion expert and the employee representatives discuss the conducts and results of the action plan annually. Several employee surveys contribute to the development and the adjustment of the actions each year, allowing the rollout of the equal opportunities plan to adapt to employee needs. The principles of justice and equal treatment of Magyar Telekom are being defined by its Code of Conduct. Ways of non- typical employment such as Telework, flexible working hours, part-time work, employment of people living with disabilities allow the company to realize the principle of equal treatment in practice. These measures are further assisted by several measures implemented in corporate day-to-day operations, such as the large office spaces that are designed to support Teleworking in the new headquarters of Magyar Telekom. In accordance with Hungarian labor legislations the Company provides its employees with extra days off after their children, and after blood donation. In case of more than 40% health damage the company provides its employees with extra five days off annually for rehabilitation. On top of these Magyar Telekom also credits the voluntary work of its employees by providing days off, the proportion of which is strictly regulated in internal directives. One of the key objectives of the new group level corporate sustainability strategy 2021-2030 among climate protection and digital inclusion is the improvement of diversity and inclusion experience on both customer and employee side. It was launched in 2021 and is in effect until the end of 2030. The details of the Sustainability strategy 2021-2030 were presented in detail in the Sustainability report published in first half of 2022. In 2022, Magyar Telekom continued with practices securing equal opportunities for all employee groups. Following the process developed in 2020 the company continued to monitor its gender pay gap along 9 indicators identifying multilayered action plan to tackle the detected inequalities and further reduce the overall gap between male and female general workforce. In 2021, Magyar Telekom has joined the „One step closer” initiative of Amnesty International with its commitment to reduce its gender wage gap by at least one percent annually. Magyar Telekom made the video recordings of its B@ck to Work Café online events, which were launched in the first semester of 2021 for its colleagues in parental leave, available to all of its employees being on parental leave. Magyar Telekom also opened its on-site childcare facility in the summer and fall school holiday season thus supporting parents in the difficult family management periods. On the first day of the vacation, as part of the #Showmewhere you work (#mutiholdolgozol) Day, nearly 500 children visited the headquarters and got to know the company's digital products and what their parents who work here do. In 2022, the distribution of its very own children’s book "My Mummy/Daddy works at Telekom" for parent colleagues raising children between the ages of 3-10 was continued. Magyar Telekom gifted not only the newly joined parent colleagues and the old ones raising a child reached the age of 3 in 2022, but also employees who do not raise children but being grandfathers, grandmothers, uncles or aunts. The storybook offers a playful introduction to the magical world of telecommunication for the preschool and elementary school aged children and offers examples on how to develop family rules for conscious screen time and internet use. Magyar Telekom’s open day won first prize in Enterprise Category at the #mutiholdolgozol (#showmewhereyouwork) competition. In October, together with the Hintalovon Children's Rights Foundation, the company organized the conference 'I am a digital parent', focusing on how to create a safe online environment for employees’ children as a responsible parent. In 2022, our company received the Family-Friendly Employer which qualifies applicants according to the implementation of family-friendly aspects. 3.3.2 Anti-discrimination and labor-market integration actions As an employer, Magyar Telekom has issued the following actions in 2021 to improve the conditions of the employee groups marked in the 2021–2025 Equal Opportunities plan. As a mentor company Magyar Telekom supports roma workforce integration programs Integrom and HRom to contribute to the equal labor market opportunities. The program participants are being supported with job application counselling, job interview-practices, CV writing and editing skill practices. Its inclusive recruitment practices include dedicated recruiter tracking support for program participants throughout their application process, providing detailed evaluation

262 and feedback, and company mentoring upon request. Starting from the fall of 2021 Magyar Telekom joined the HBLF Romaster initiative supporting two talented roma students for 4 years with scholarship funding and mentoring. In 2022 the LGBTQ & allies employee group of Magyar Telekom, T-Systems Hungary and Deutsche Telekom IT Solutions Hungary have attended the Budapest Pride March again. The Company has continued to work on and improve its LGBTQ inclusive workplace initiatives as well. As a result, the LGBTQ & allies employee resource group (ERG) of the Company has formally and officially formed as the first one of its ERGs. In 2022, its headquarters in Budapest hosted the Women's Day Conference of the Egyenlítő Foundation. The event focused on women leadership. In the various round table discussions, 3 of its female leaders represented Magyar Telekom and shared their thoughts on the topic. In June 2022, the company held a round table discussion ‘Women in Telekom’, aiming to establish the 'Women in Telekom' employee resource group. In order to secure the equal opportunities of current and future colleagues living with disabilities, the Company is using a special module on its online job-application site (https://www.telekom.hu/about_us/career) since 2010, where its applicants are encouraged to state any accessibility requests, they might have in order to attend the selection process. Apart from workplace accessibility the company supports the workplace integration and enablement of its entrants and their welcoming teams by education materials with modules for basic attitudes and inclusive behavior with colleagues with visual or hearing impairments, colleagues facing physical or mental difficulties to work independently within the team and provides workshops on demand. At Magyar Telekom Christmas event in December, the company dedicated a special section to its employee resource groups (LGBTQI, Women at Telekom, People with Disabilities at Telekom) to raise awareness and to promote them. In the Open Minded Companies Award, which rewards the initiatives and results of companies for workplace diversity, openness, and tolerance, Magyar Telekom took first place in the Most Tolerant Company category. 3.3.3 Respect of Human Rights, actions against child labor and all kinds of forced labor As disclosed in the Code of Human Rights and Social Principles the Company rejects child labor and all kinds of forced or compulsory labor and fights against all kinds of human trafficking and modern-day slavery by all means at its disposal. As the parent company of Magyar Telekom the Deutsche Telekom Group is responsible for supply chain compliance auditing and management on a global level. More detailed information about the methodology and results of the global supply chain management at https://www.telekom.com/en/corporate-responsibility/assume-responsibility/assume- responsibility/supply-chain-management-355304 New employees of Magyar Telekom as part of their orientation process in their first two months receive compulsory education about the company principles, guidelines and practices concerning social issues, labor standards and human rights. All employees must understand and accept these guidelines as the fundaments of their own professional behavior and operations and they are also obliged to complete the Telekom unconscious bias e-Learning course during the onboarding period. In line with the Code of Human Rights and Social Principles, all Magyar Telekom employees and all partners closely related to its brand representation attended compulsory trainings regarding human rights. From the end of 2018 the training is part of the compulsory trainings of Magyar Telekom. Moreover, the Company is aware of the fact that there could be situations in which it is harder to tell appropriate from inappropriate. In order to assist employees in making the right choices in these situations, all employees participate in the Company’s gamified and digital mandatory annual compliance training, and the company offers secure internal whistleblower channels, operated by the Corporate Compliance Department. “Kérdezz!” (“Ask me!”) advice portal has been set up to help resolve uncertainties as far as compliance-¬relevant behavior is concerned. Serious misconduct must be announced for prevention purposes and for appropriate sanctions. For this reason, the “Tell me!” whistleblower portal has been established. The main principles and the detailed description of the internal inspection process is detailed in employee directives available on all employees on the shared intranet platform. Throughout the inspection process the whistleblowers’ anonymity, personal and data privacy are guaranteed and handled with utmost discretion. 3.3.4 Relationship of management and employees At present two unions (Telecommunications Trade Union (TÁVSZAK) and T-Net Trade Union) and workers’ council operate at Magyar Telekom, communication with them runs on two levels. Central decisions concerning the whole Company, when the employee representation bodies need to be consulted, are deliberated with the Central Workers Council and the

263 representatives delegated by the trade unions, either in the frame of joint consultation (Interest Reconciliation Council), or separately, depending on the nature of the matter discussed. Central communication is managed both verbally (negotiation) and in writing. The Chief People Officer and the accredited HR business partner are responsible for central level communication with the employee representation bodies. Interest enforcement issues concerning a given governance area are also discussed locally with the representatives of the trade unions and the local workers’ council. The HR Business Partners of the governance area are responsible for communication with the local employee representation bodies. Trade union and the workers’ council (Central Workers Council) must be consulted, and their opinion solicited on significant decisions resulting in organizational changes or changes affecting a large group of employees. In organization restructuring decisions the collective bargaining bodies have 7 days to submit their comments, in other cases 15 days. The measure in question may not be implemented during this 15-day period. Trade unions and workers’ councils (Central Workers Council) must be consulted with regard to draft resolutions, aiming at organizational changes without regard to the number of employees concerned. Under the Act V of 2013 on the Civil Code one third of the Supervisory Board shall consist of employee representatives. The employee representatives in the Supervisory Board are nominated by the Central Workers’ Council considering the opinion of the trade unions operating at the Group. Persons nominated by the Central Workers’ Council shall be elected by the General Meeting to the member of the Supervisory Board, except if disqualifications exist in respect of the nominated persons. On December 31, 2022, there were two members of the Supervisory Board were employee representatives. These members were Gyula Bereznai and Endre Szepesi. 3.3.5 Freedom of organization and collective bargaining Magyar Telekom acknowledges the basic rights to freedom of organization and collective agreement in its Social Charter. In line with an openness and trust that relies on a constructive social dialogue, Magyar Telekom declares its support to cooperation with the legitimate representatives of the employees in order to establish a balance of interests. The Social Charter together with the long history of mutual respect and cooperation of the management and employee representative councils are the guarantees that these rights are being fully and thoroughly respected. 100% of the employment contracts of Magyar Telekom employees operating in Hungary fall under collective bargaining agreements developed with the Hungarian Telecommunications Trade Unions (Távközlési Szakszervezet, TÁVSZAK and Magyar Távközlési Ágazati Szakszervezet, MATÁSZ). The agreement, which can be terminated by either party with three months' notice, applies to all Magyar Telekom Plc. employees except the CEO, regardless of their union membership status. Wage terms in the collective bargaining agreement must be renegotiated annually. If the employment is terminated due to reasons related to the employer’s operation, employees are entitled to a specific amount of severance pay surplus, which depends on the tenure of the employee. In addition to the collective bargaining agreement, employees of Hungarian operations are generally covered by the Act I of 2012 on the Labor Code, which imposes various restrictions on the involuntary termination of employment. The Labor Code protects employee interests through two different labor organizations: the Trade Union and the Workers’ Council. The Trade Union, as the official representative of employee interests in negotiations relating to the terms of employment, has the right to be informed of all corporate measures that may significantly affect the interests of employees and to commence legal action against Magyar Telekom for employment-related conduct that infringes an employment rule. In addition, the Workers’ Council directly represents employee interests in dealings with management and decides jointly with management on matters involving employee welfare funds and institutions. The Workers’ Council must be informed semi-annually on issues affecting the economic performance and changes in wages, employment conditions and working hours. The Workers’ Council must also be consulted on corporate measures affecting employees. Magyar Telekom believes that its relations with its employees are good and has not experienced any labor strikes or disruptions since the Company’s formation. 3.3.6 Workforce Reduction and Redeployment Magyar Telekom – in order to ensure the resources related to the Company’s strategic objectives - has reached an agreement with the trade unions in 2022 on headcount plans and wage increase measures for 2023.

264 According to the terms of the agreement, there was no company-initiated downsizing, nevertheless the company did offer an opportunity for the employees to leave in a voluntary program. Majority of employees that entered the program left the company by the end of 2022. The company provides active job search, labor market training and one-on-one counselling to the colleagues laid off, in the framework of Program Chance, which has proven its success in the past years, and trusts that the above support these highly-trained employees of up-to-date professional expertise in finding employment elsewhere as soon as possible. It is planned to reinvest a significant proportion of the expected employee cost savings in resources related to the Company’s strategic objectives. 3.3.7 Benefit Programs Magyar Telekom’s welfare and social benefits constitute an exceedingly wide-ranging pool. A part of them is granted to every employee, while others are available on certain conditions or are of an insurance nature. In case of certain benefits, employee’s individual contribution is a prerequisite of the employer’s contribution. The way social benefits and discretionary benefits are granted is set out in the Collective Agreement and related regulations. Magyar Telekom provides employees with telecommunication allowances, fringe benefits life and health insurance benefits and health screening packages. 3.4 Risk management 3.4.1 Providing educational and professional background The educational pillar of Magyar Telekom’s Sustainability Strategy aims to improve the digital competencies of the clients and the wider public. It also aims to contribute to the development of industrial succession knowing that a potential throwback in the amount of available highly qualified professionals in the industry could mean a serious risk to maintaining, improvement and development of the quality of its services. In order to secure the highest quality service to the company’s clients, Magyar Telekom needs work with the best professionals. To be able to have them a competitive industrial educational background is necessary. Upon the initiative and by funding of T-Labs (Telekom Innovation Laboratories, Berlin) the faculty Data Science and Engineering began to operate at Eötvös Loránd University from September 2016 as the first pillar of the EU Labs researcher network. The role of Magyar Telekom is in the support of the teaching and research capacities. Magyar Telekom’s colleagues are in close relationship with several higher education institutes and help the universities with consultancy for writing theses, expert education and giving lectures. Within the company’s strategic partnership started in 2021, the company continued the cooperation with the Budapest Technology EC Puskás Tivadar Technical School for Telecommunications and IT, the Miskolc EC Kandó Kálmán Technical School for IT Technology and the Székesfehérvár EC Technical School. The aim of the partnership is to offer professional support in keeping the curriculum up-to-date with the latest technological realities of the industry and help partner institutions in promoting telecommunication related careers. In addition to these Magyar Telekom also offers student work opportunities for students of these education centers and give career orientation lectures, along which the students could gain an in-depth insight in the everyday challenges and opportunities of present day telecommunications. Magyar Telekom signed a partnership with Szent István University, in order to offer the training practice pillar of the electric engineer dual major. 3 students started this dual major in 2022. As the next step of the formation of the “Deutsche Telekom Group remote IT Faculty” at Óbuda University in December, 2021 which is the joint education platform of Deutsche Telekom IT Solutions, T-Systems Hungary and Magyar Telekom, the first course - DevOps in business IT services – was launched in February 2022. The courses are run mainly by DT-ITS specialists, T-Systems Hungary and Magyar Telekom colleagues also contribute. In the fall of 2022, the Company signed a cooperation agreement with the Faculty of Electrical Engineering and Informatics of the Budapest University of Technology and Economics on the participation in the Plant Engineering-Informatics cooperative training, to provide opportunity for students to get familiar with the practical aspects of their future profession, based on the guidelines of experienced professionals.

265 Almost 80% of the first Kickstart-class, 17 trainees have continued to work in junior positions at Magyar Telekom following their trainee year. In 2022 27 senior year university students joined Magyar Telekom Plc. and the first time T-System Hungary Ltd. as the third generation of Kickstart trainees. During the one-year program, the trainees received professional, soft-skill and design thinking trainings. Kickstart trainees who work in a variety of areas throughout the company gather up for a half term agile project assignment strengthening their ability to work in a cross-functional team. The joint project task is based on real business needs, thus strengthening the importance of the program in parallel with the development of Magyar Telekom. Launched in March 2020, MagentaKraft helps young visionaries with trainings and events on their journey to develop their inventions and projects. The KraftRoad program supports young talents with workshops and events in the development, elaboration and improvement of their innovation projects. In 2021 Telekom Kraft was home to 9 innovation projects. In 2022, from the applicants for the GreenLab tender jointly announced with Ashoka Hungary, 5 teams had chance to develop their own environmentally beneficial project, which they also presented to representatives of various companies. But young people not only could come with ideas, they could also develop their skills and become content producers for Magyar Telekom's channels in 2022 by the Kraft Agency, which is Magyar Telekom's own, internal creative team of young people, whose aim is to renew the content production in Hungary and create a new kind of content production model, and to involve talented young people in building and shaping the brand. Throughout the year, the KraftLab in Debrecen was also available to the young people, where they could use various tools, from a video studio to a podcast studio to a programmable robot arm. A total of 2,838 youngster took advantage of this opportunity and boosted their various projects with the help of the site. At Zyntern Jobportal Big Beginner Survey which evaluate the most popular employers among young people (aged 16-28), Magyar Telekom was the #1 choice for youngsters and ranked first as the Most attractive employer. 3.4.2 Employee expectations and equal opportunities The pillars of People Focus in Magyar Telekom are based on the aim to meet the needs of the company’s employees, and to live up to the challenges of maintaining the company status as a highly competitive and future oriented employer. Employees of Magyar Telekom require security, stability, opportunities for advancement and competitive compensations. Magyar Telekom, as a company committed to provide equal opportunities to its employees, finds it especially important to harmonize wages and to terminate unjust wage gaps. Magyar Telekom’s remuneration system is fully transparent thus its base wage tables and the relevant policies are available for all employees. The dimensions of the position system are being developed at the intersections of the Hay-system and the competence-based position levels of its agile organizations. Magyar Telekom pays extraordinary attention not to differ unreasonably the wages of the employees performing the same tasks and that the wage differences between the employees reflect real work differences. As a responsible company, the Company is aware of the social phenomenon of the gender pay gap and are committed to eliminating its root causes within its own business environment. Since July 2020, the Company conducts twice a year regular and complex gender pay gap analysis, during which the Company defines its equal opportunities action plan to reduce the possibilities of inequalities such as the ’motherhood penalty’ and the female career gap. As an employer dedicated to diversity as a core value, Magyar Telekom finds it important to raise the number of women in leadership positions. One of the key objectives of the Diversity pillar of the Sustainability strategy is to reach at least 35% of female leadership by 2025. From May 2020, for the first time in the company’s history, the company has achieved a balanced 33.33% gender ratio in the senior management which the company continued to maintain in 2022. The proportion of female leadership in the overall management was 27.27%. Magyar Telekom considers stress, overload and burnout related risk-reduction as its priority duty in relation to its employees. In order to take charge of these risks by securing an empowering environment to develop and maintain a healthy lifestyle, employees are also provided with coaching and training opportunities and the availability of the Employee Assistance Program all of which help in maintaining a sustainable life balance. Efficient work-life balance of employees with families is further supported by the company’s on-site childcare facility supporting parents in the difficult family management period its child-friendly offices and the available, tax-free nursery and/or kindergarten support that could be selected from its cafeteria benefit scheme, thus contributing to the reduction of expenses. Taking notice of the special conditions of employees (ex. illness or the longer-term domestic care of a relative) a longer period of unpaid leave is also available.

266 3.5 Performance indicators Non-typical employment at Magyar Telekom Group ▪ No. of Part-time employees in 2022: 138 ▪ No. of Flexi-time employees in 2022: 1,159 ▪ No. of Teleworking employees in 2022: 4,069 More women in leadership positions at Magyar Telekom Plc. ▪ Percentage of women in overall workforce: 35.35% ▪ Percentage of women in senior management: 27.68% ▪ Percentage of women in Leadership Squad: 33.33% Volunteer work benefits at Magyar Telekom Group ▪ No. of volunteer working hours (blood donation): 3,290 ▪ No. of volunteer employees (blood donation): 183 4 COMPENSATION OF MEMBERS OF THE BOARD OF DIRECTORS, SUPERVISORY BOARD, AND MANAGEMENT The aggregate compensation of the members of the Board of Directors in their capacity as Board members was HUF 26 million in 2022. The aggregate compensation of the members of the Supervisory Board in their capacity as Supervisory Board members was HUF 37 million in 2022. The total compensation expenses (including social security and other payroll-related taxes as well as contractual termination expenses) of the members of the Leadership Squad (LS) was HUF 1 430 million in 2022. On December 31, 2022, four members of the LS have an employment contract with indefinite and two members with definite duration. The notice period is two months for two of the indefinite contracts. The severance payment usually is in accordance with the Labor Code and the Collective Agreement, for the contracts the severance payment is usually between 3 and 16 months. In addition to the above, the affected persons are bound by the non-compete clause, under which the employee is barred from entering into employment with any Hungarian or international competitor of Magyar Telekom and is required to refrain from providing direct or indirect services or activities of any kind to such companies for a definite period (not longer than one year) upon termination of his/her employment. Furthermore, such employee is barred from any action aimed to recruit employees of Magyar Telekom for any other company. This limitation entails certain compensation which is proportional with the above obligation. If the employee is in breach of the agreement, he/she will reimburse the net amount of compensation to the employer. In addition, the employee will be liable for a payment of compensation to the employer. LS members from foreign countries may be entitled to housing subsidies. There are two members affected by this entitlement. In line with the Company’s remuneration guidelines, the Company provides contribution-based personal pension scheme, personal insurance scheme and health insurance scheme for the LS members. In addition, the LS members are entitled to the use of company cars. For information about the Share Based Compensation programs, see Note 20.1.2 of the Financial Statements. 5 RESEARCH AND DEVELOPMENT In addition to innovative Hungarian SMEs, the research and development tasks are performed by the internal researchers as well as the product and services development staff of Magyar Telekom. In addition, the Company also takes advantage of the synergistic effect of the internal and external knowledge base and seeks partnerships with well-known innovation centers and higher education institutions. Magyar Telekom’s main partners are well-known Hungarian universities and research institutes.

267 Paralel with the R&D and 5G Campus collaboration the Company founded Dual educational program with Széchenyi István University, the Company had a successful common „Hungaroring racing car simulation” project at the framework of 5G Campus in 2022. In 2022 keep going the „Deutsche Telekom Group IT” Off-site Department faculty at Óbuda University. Also proceed with the engineer educational programs with the universities and higher education institutions and expanded with further subjects. Magyar Telekom have developed its partnership with the Universities’ Science parks. In 2022, for Magyar Telekom, as in previous years, it is extremely important to exploit the potential of new technologies, including the research and development of fifth-generation mobile technology. In 2022, MagentaKraft continued its activities. MagentaKraft is Telekom's innovative platform for young generation, which aims to create value for young people. MagentaKraft provides an opportunity for young people who have already formulated a small or even a big idea, but do not have the necessary tools (infrastructure, environment, team) to implement it. More details in note 3.4.1. 6 REAL ESTATE, SITES OF OPERATION Magyar Telekom has one of the largest real estate holdings in Hungary. The Company uses substantially all of these properties for telecommunications installations, offices, warehouses, garages and shops. Its equipment and machinery primarily consist of switches, communication towers and other telecommunications equipment. In order to increase the utilization of real estates and increase efficiency, also adapting to the recent changes in the energy sector, the company committed to ensuring to reduce the cost of its energy consumption (finding alternative methods in heating and cooling, and to rationalize the usage of offices) furthermore the company make efforts to sublet or sell its surplus properties. 6.1 The registered office of the Company: ▪ 1097 Budapest, Könyves Kálmán körút 36. 6.2 Sites of the Company: ▪ 1073 Budapest, Dob u. 76-78. ▪ 1106 Budapest, Örs vezér tere 25. 1. em. ▪ 1138 Budapest, Váci út 178. ▪ 1195 Budapest, Üllői út 201. ▪ 1191 Budapest, Vak Bottyán u. 75. a-c. ▪ 1024 Budapest, Lövőház u. 2-6. 2. em. ▪ 1123 Budapest, Alkotás út 53. ▪ 1062 Budapest, Váci út 1-3. ▪ 1117 Budapest, Október huszonharmadika utca 8-10. ▪ 1033 Budapest, Huszti út 32. ▪ 1098 Budapest, Távíró utca 3-5. ▪ 1156 Budapest, Száraznád utca 1-3. ▪ 1211 Budapest, Rákóczi Ferenc út 154-170. ▪ 1087 Budapest, Kerepesi út 9. ▪ 1119 Budapest, Hadak útja 1. Out of the 1,808 buildings on the 1,624 sites of Magyar Telekom Plc, 48% are owned by the company, 4% are jointly owned and the rest 48% are leased. Magyar Telekom is managing more than 7,000 contracts for base stations, mobile sites and technology properties. The total area of buildings used by Magyar Telekom Plc. as of December 31, 2022 was 472,749 m 2 . The majority of sites used in the company’s operations are smaller than 100 m 2 . The largest site is the company’s headquarters building (leased) located at Könyves Kálmán krt. 36 in Budapest, with floor space of over 55,000 m 2 , and including underground area with total space of 105,000 m2.

268 7 SUSTAINABILITY Magyar Telekom has been addressing the sustainability implications of its operations for close to twenty years, and for more than 15 years its sustainability activities are characterized by comprehensive, long-term plans, and the Company started its fifth five-year sustainability strategy (2025-2030) in 2021. Magyar Telekom has committed to support the ten principles set forth by the UN Global Compact since 2009 in the areas of human rights, environment and anti-corruption, the results of which are also addressed by its Sustainability Reports. In 2015, the UN adopted its sustainable development blueprint to be implement by 2030. These 17 goals and 169 targets determine the main direction towards resolving the most urgent problems posing a threat to humanity and the planet. Magyar Telekom elaborated its Sustainability Strategy encompassing the period from 2016 through 2020 and from 2021 through 2030 as well along these SDGs. The company’s contribution to the priority goals originated from its business is presented in a separate assessment linked to the Sustainability Report yearly. Magyar Telekom’s sustainability activities and achievements are comprehensively discussed in the annual Sustainability Reports, which aim to make the Company’s environmental, social and economic activities transparent to everyone. The present report includes reference only to certain key topics of the company’s sustainability approach, namely human rights, employees, environment protection and compliance. 7.1 Sustainability strategy In 2021, Magyar Telekom started its fifth ten-year sustainability strategic cycle, 2021-2030. The main goal of Magyar Telekom’s 5th Sustainability Strategy is to remain the country’s leading sustainable company by putting digitalization at the service of the development of people, families and businesses, as well as the protection of the environment. The main guiding principle of the company’s new strategy is to maintain its current leadership role as both a company and an infocommunication service provider. It has therefore set long-term targets for 2030, which it will continuously monitor and update as necessary. Climate protection Magyar Telekom keeps the direct and indirect emissions (scope 1+2) at net zero by an 84% decrease and reduce the part of the emissions of suppliers and customers attributable to the company (scope 3) by 30%. Its customers take climate action and reduce emissions by providing ICT services applicable as climate protection (i.e. smart) solutions. At least half of the company’s revenues come from services that support climate protection by 2030. Emission decrease (2025): ▪ Keep its direct & indirect emissions (scope 1+2) at net zero by an overall 65% decrease in consumption (base year: 2015) ▪ Decrease the emissions of its suppliers and customers attributable to us (scope 3) by at least 20% (base year: 2017) ▪ Review the possibility of introducing a „Shadow CO2 Price” Decreasing others’ emissions (services for climate protection) (2025): ▪ At least 20% of its revenues to come from climate protective services Tasks supporting climate goals (2025): ▪ Establish and report on climate risk management process (in line with TCFD) ▪ Impose internal carbon tax and establish internal carbon market Resource efficiency goals supporting climate goals (2024): ▪ Take back used mobile devices from customers, 10% increase ▪ Take back and sustainably manage used CPEs from customers

269 ▪ Zero technological waste disposal ▪ 100% sustainable packaging Emission decrease (2030): ▪ Keep its direct & indirect emissions (scope 1+2) at net zero by 84% decrease compared to 2015 ▪ Decrease the emissions of its suppliers and customers attributable to the Company (scope 3) by 30% compared to 2017 ▪ Take into consideration the carbon footprint in the process of supplier selection Decreasing others’ emissions (services for climate protection) (2030): ▪ At least 50% of its revenues to come from climate protective services Digitization 100% of customers of Magyar Telekom throughout the country will be provided with gigabit access and 6 million people will achieve responsible digital maturity. Digitalization of Hungary (2025): ▪ 4 million gigabit-ready households (access independent) ▪ 67% 5G coverage Digital responsibility (2025): ▪ More than 4 million people whose digital maturity the Company has promoted Digitalization of Hungary (2030): ▪ Gigabit access available to all its customers ▪ Nationwide 5G coverage Digital responsibility (2030): ▪ 6 million responsible digitally mature people Diversity In the previous period, diversity and equal opportunities have already been in the focal of the Magyar Telekom’s Sustainability Strategy. In the new strategy (2021-2030) Magyar Telekom’s goal is to create a 100% inclusive workplace and to create a 100% accessible UX for customers with disabilities. Inclusive workplace (2025): ▪ 100% accessible workplace ▪ Ratio of female management: minimum 35% Accessible services (2025): ▪ 100% WCAG compliance

270 Inclusive workplace (2030): ▪ Ratio of female management: minimum 40% Accessible services (2030): ▪ 100% accessible services Awards and sustainability recognitions achieved in 2022 and continuously relevant recognitions: ▪ FTSE4Good Index membership, FTSE Russel ESG Ratings ▪ CECE SRI sustainability index membership ▪ MSCI ESG rating AAA (scale: CCC-AAA) ▪ ISS ESG rating: B Prime (scale: D – A+) ▪ CDP rating (Climate change): A- ▪ Best Sustainability Report 2022 – Deloitte Green Frog Award ▪ PwC Award: Most attractive company in telco sector (fifth year in a row) ▪ Most Attractive Workplace in Telco sector 2022 – initiating organization: Randstad ▪ Zyntern Jobportal Big Beginner Survey #1 choice for youngsters: Most attractive employer #1 place ▪ Family-friendly Workplace Gold label - Családbarát Ország Nonprofit Közhasznú Kft. (Family-friendly Country Nonprofit Ltd.) ▪ #Mutiholdolgozol (#showmewhereyouwork) Day” #1 Winner Enterprise Category ▪ Hrpwr - Open Minded Companies Award „Most Tolerant Company” Prize ▪ Hungarian Telekom and T-Systems Headquaters - BIG SEE Architecture Award 2022 (Public and commercial category) ▪ Hungarian PR Association – PR Excellence Hungary Award (PREXA)j – „Your message has arrived” („Üzeneted érkezet”) POKET x Telekom publication – Gold Award ▪ Kreatív Magazin – Content+Marketing Award (CMA) 2022: „Your message has arrived” („Üzeneted érkezet”) POKET x Telekom publication – Bronze Award ▪ Kreatív Magazin – Influ Award: „Your message has arrived” („Üzeneted érkezet”) POKET x Telekom publication – Bronze Award 7.2 Initiatives concerning stakeholders In order to successfully operate the Company, it is essential to have strong relations with stakeholders. Below you will find a list of the company’s key activities the details of which are elaborated in the respective chapters of the Sustainability Report: ▪ Investors – investor (and responsible investor) assessment ▪ Customers – sustainable products and services, child protection ▪ Employees – community solar project, family friendly services, diversity contents ▪ Regulators – conformity, regulatory relations ▪ Local communities –Telekom Community Gardens, Superfast Internet Program (SZIP), network development ▪ Non-profit organizations – sustainability projects with several NGOs ▪ Suppliers – sustainable supply chain management ▪ Media ▪ Future generations –Become! part of generation NOW, Forum “Most”, Magenta Podcast Stakeholders can express their expectations online towards Magyar Telekom. The Company then takes them into account in course of pursuing its sustainability activities. Activities related to more stakeholder groups As part of the Company’s 2018 Diversity & Inclusion plan, Magyar Telekom is striving towards an inclusive, open and safe working environment for employees from all backgrounds. In order to promote a working culture of inclusion and non- discrimination, the company has developed the first Hungarian language unconscious bias e-learning material and launched it as a mandatory course for all employees, 92% of whom have successfully completed it by the end of October 2019. The e-learning is part of the onboarding curriculum and is mandatory for all new entrants. The aim was not only to support the development of its own working culture but to provide accessible and easily adaptable learning material for

271 all Hungarian enterprises and thus contribute to the promotion of anti-discrimination in the society at large. In 2022 Telekom was one of the corporate sponsors that helped the Equaliser Foundation to organise its Women's Day conference on 8 March 2022. During the event, Magyar Telekom presented the POKET x Telekom publication "Your message has arrived", which won several awards in 2022. Recognizing the importance of plastic pollution, Magyar Telekom set a new goal to significantly reducing the amount of single-used plastics generated during its operations. Within the Plastic Free Telekom initiative, first the company removed these plastics from the headquarters operation in 2019. The company provided its colleagues filtered water and jugs to reduce the amount of PET bottles. In 2020, the company introduced further plastic-free steps. Magyar Telekom and its service providers have maintained their commitments during the pandemic and in 2022, and in 2023 they plan to further reduce PET bottles. Investors Magyar Telekom remained to be a constituent in the FTSE4Good Index Series in 2022. The US based MSCI rated Magyar Telekom into the category ‘AAA’ on the scale CCC-AAA. The German ISS at its ESG assessment gave the B Prime rating to the company. Magyar Telekom continued to disclose climate related data and information via the CDP platform (rating: A- ). Magyar Telekom remained a constituent in the CECE SRI (formerly CEERIUS) Index on the Wiener Börse as well. Customers Magyar Telekom would like to offer the choice to its customers who consider it as important as the company do to fight against climate change to pick a service that serves the purpose of protecting the climate. That is why Telekom came up with the ExtraNet Green 1 GB option in 2019. In 2022, by choosing the ExtraNet Green 1 GB data extension option, Magyar Telekom guarantees to generate the same amount of energy as the one required to transmit 1GB data using its solar power plants installed on the top of the Kékvirág street facility and on the top of two facilities in Szeged. The children’s protection website of Magyar Telekom is dedicated to threats caused by children’s media consumption. The website provides information to parents not only about ICT technologies, devices and content, but also about threats caused by their usage and consumption, as well as possible preventive measures. More details are available on: http://www.telekom.hu/about_us/society_and_environment/society/protection_of_our_children Magyar Telekom launched an educational program under the title “Being a Digital Parent” in partnership with the Hintalovon Foundation. Raising children in the 21st century means being a digital parent. Protecting children properly is a challenge in real life, and there is much to learn about it online as well. The aim of the Being a digital parent campaign is to achieve an informed, confident digital presence, searching for answers to questions such as: whose responsibility is to ensure children’s digital safety; what parents can do; what settings does the company need to make on its child’s device to stay safe online; what should company thinks about before posting on social media? The professional content on the topic and a step-by-step guide to setting up children’s devices is available on the www.tudatosdigitalis.hu (only in Hungarian) website. Employees In March 2022 Magyar Telekom announced again its community solar project. During the program employees had the opportunity to adopt a solar panel. 200 solar panels had been adopted in less than an hour. In 2021 Magyar Telekom continued its work on the improvement of diversity and equity based on the results of the 2020 employee survey. It offered 6 B@ck to work Café online sessions in the first half of the year, providing guidance to for parental leavers who are planning their return and promoting the development, career planning and contact keeping tools that are available. Magyar Telekom established its first LGBTQ resource group which initiated actions and process development initiatives to further the inclusion of LGBTQ workforce. Since November, 2021 the company joined the corporate donors of HBLF Romaster initiative and committed to support support of two roma students for 4 years. For the first time in the history of the company, gender ratio in Magyar Telekom's top management became balanced in 2020 and a number of measures were taken to further improve the proportion of female executives in the entire management team. The company continued with the monitoring of its gender pay gap, along which further developments are being initiated. Magyar Telekom Plc. joined the “One step closer” initiative of Amnesty International in 2021 with its commitment to close the gap with at least one percent each year.

272 Local communities Magyar Telekom and the Hungarian Contemporary Architecture Centre continued to run community gardens in 2022, too. Gardening works are still ongoing at Csárdás Garden and in Pomáz. In response to the armed conflict in Ukraine, Magyar Telekom has helped both refugees arriving in Hungary and family members who have stayed in Ukraine. As part of this, it has fully credited international calls and SMS to mobile and fixed lines in Ukraine, as well as mobile roaming charges on partner networks in Ukraine. Under the Telekom Mobildonor program Magyar Telekom offered 5,000 mobile devices and prepaid cards to Ukrainian refugees and supported the humanitarian activities of the Hungarian Interchurch Aid by donating money and offering volunteer work. Non-profit organizations WWF Hungary has implemented a natural water conservation project in five small villages in partnership with local residents to reduce water scarcity due to climate change. Magyar Telekom is supporting the program by setting up a monitoring system to ensure that the data collected can be used to successfully implement the environmentally friendly solution in as many places as possible. Suppliers In the framework of the sustainable supply chain management process Magyar Telekom assesses the sustainability performance of its suppliers each year. This will be done independently by Magyar Telekom, in addition to the suppliers that are shared with Deutsche Telekom but are not assessed in the Ecovadis system. In 2022 through completing a web audit questionnaire – that contains questions on general, environmental, social and business ethical topics – 14 suppliers were assessed and so 50.79% of the total purchase value has been covered by valid web audit assessments. Future generations On the LEGYÉLTEIS! website, the Company has shared Internet safety content that is easy to understand and follow for children and parents. Digital education for the older generation continued with the Become a GenNow granny! program. The personal lectures and the online educational content created by students are still available for the elderly. A close working relationship was established with the National Association of Pensioners. They distributed 253 smart devices donated by the Mobildonor program, for the seniors involved in the Become a GenNow granny! program. With the help of its regional partners, the Company organized sessions in major cities at regular times and fixed locations to reach as many people as possible. The company also appealed to the younger age group with the launch of the Magenta Podcast channel in March 2020, which covers media consumption, diversity, online education, mental health, technological innovation, cultural and economic topics, but expert guests will also speak on topics such as the home office, digital family or just the COVID-19 pandemic. In 2022, the Podcast was continued to provide regular entertainment and professional content on topics such as cryptocurrencies, digital accessibility and the digitalization of SMEs. A key aspect in the production of the Podcast is to ensure that the guests and experts invited are well-known figures among the younger generations, thus supporting the success of reaching out to this age group. Charters and initiatives of cooperation accepted and signed by Magyar Telekom Besides professional challenges, the Company also seeks cooperation opportunities for the solution of social and environmental problems. Magyar Telekom has been an active member of ETNO’s (European Telecommunications Network Operators’ Association) Sustainability Workgroup for years. The members work closely towards solving all kinds of sustainability-related programs. The Company is in constant consultation with the national advocacy organizations of people with disabilities (AOSZ, ÉOFÉSZ, MEOSZ, MVGYOSZ) in order to review and adapt its barrier-free customer services and services to the changing needs. The Company provided professional knowledge to the work of the Presidential Committee of the Hungarian Academy of Sciences. Its colleagues maintain contacts with a number of higher education institutions: they assist in university work by with consultancy for writing theses, expert education and giving lectures.

273 Magyar Telekom was the first among the Hungarian companies to accept OECD Guidelines for Multinational Enterprises and set them up as mandatory guidelines for its operations. The European Union’s Diversity Charter has been signed by the company and considered a mandatory guideline. Magyar Telekom has signed the UN Global Compact for 10 guidelines, and also fulfils its commitment to submit annual progress reports. Magyar Telekom has acknowledged the UN Sustainable Development Goals (SDG) and through incorporating those of key importance in its Sustainability strategy 2021-2030 the company includes the contribution to these goals as a mandatory element of its operations. Magyar Telekom discloses data and information on its climate-related activities through the CDP (Carbon Disclosure Project) platform. Magyar Telekom was the first Hungarian company to join the Science Based Target Initiative (SBTi) and has emission reduction targets approved by SBTi. Magyar Telekom has joined the UNFCCC Climate Neutral Now initiative. In 2020 Magyar Telekom joined the Equalizer Foundation, where it is also represented on the Board of Trustees. The foundation aims to initiate and support changes that will result in more women leaders in Hungarian economic, cultural, scientific and political life. List of the main memberships: ▪ Hungarian 5G Coalition ▪ European Telecommunications Network Operators Associations (ETNO) ▪ GSMA Association ▪ Joint Venture Association (JVSZ) ▪ German-Hungarian Chamber of Industry and Commerce ▪ Communications Reconciliation Council ▪ Scientific Association on Telecommunications and Informatics ▪ ICT Association of Hungary ▪ Hungarian Association of International Companies ▪ Hungarian Competition Law Association ▪ Hungarian AI Coalition ▪ Employer’s Equal Opportunities Forum ▪ Hungarian Logistics, Procurement and Inventory Management Association ▪ Association of Hungarian Content Providers ▪ Hungarian Marketing Association ▪ Hungarian Advertising Association ▪ American Chamber of Commerce in Hungary Quality guarantees in Magyar Telekom Plc. can be found: https://www.telekom.hu/about_us/about_magyar_telekom/principles/quality_guarantees 7.3 Annual Sustainability Report Magyar Telekom Plc. has committed, among other things, to publish reports about its sustainability performance annually. When the reports are compiled the GRI (Global Reporting Initiative) guidelines and standards are applied, thus ensuring compliance with the principle that the reports have to be the cornerstones ensuring transparency and international comparability. The Sustainability report about 2007 was the first report in Hungary which was prepared according to the GRI G3 A+ compliance level, this meant the highest level of application of the GRI G3 guidelines at the time. Since then, Magyar Telekom has produced an annual report with the highest compliance with international guidelines, the 2013 Sustainability Report was the seventh to meet the requirements of the GRI A+ application level.

274 The 2014 and 2015 Sustainability Report was compiled along the Fourth-Generation Principles set forth by the Global Reporting Initiative (GRI G4), while since 2016 Sustainability reports have been compiled along the newest requirement, the GRI Standard on “Comprehensive” level. The independent assurance and certification of compliance with the GRI Standard criteria was conducted by PricewaterhouseCoopers along the ISAE 3000 international standard. Further details on the sustainability performance of the Company can be found in the annual reports available on: https://www.telekom.hu/about_us/society_and_environment/sustainability_reports The 2022 Sustainability Report is going to be published in the first half of 2023. 8 ENVIRONMENT PROTECTION 8.1 Policies Magyar Telekom upholds its commitment to sustainable development and environment protection first in the environmental policy. The policy contains obligations for the members of Magyar Telekom both Group individually and as a Company: https://www.telekom.hu/static-tr/sw/file/Magyar_Telekom_environmental_policy.pdf In addition to the policy, it has also issued an environmental directive, which sets out in more detail the company's areas of commitment and expectations: https://www.telekom.hu/static-tr/sw/file/magyar-telekom-environment-protection-policy-guidelines.pdf The Company-level coordination was continued to be implemented under the auspices of the Sustainability Committee (SC) in 2021, as well. The levels of development and management of the corporate sustainability strategy are separated from the operative implementation level within the operation of the SC, thus the process of implementing sustainability activities is divided to the following levels: 1. Strategy development and strategy management level operating under the auspices of the SC: development of strategic concepts, implementation of the strategy, relevant communication with national and international organizations. 2. Operative implementation level managed by relevant organizations of the governance areas and business units, actual operative activities, task management, data provision etc. The SC’s operation is regulated by a group level directive: on the regulation of Magyar Telekom’s sustainability operation and the responsibilities and competence of stakeholders. The operative management of Magyar Telekom, the Management receives at least once a year a report on the implementation of the tasks of the Company’s Sustainability Strategy and other ongoing significant sustainability activities, results, potential exposures and opportunities. The Management is informed on the latest sustainability trends and may respond to the feedback from stakeholders through the annual report and based on the report may decide on the amendment of the strategy. The Management keeps contact with the stakeholders through the SC. Incoming inquiries are received by the respective professional areas and critical comments regarding sustainability are transferred to the responsible staff members by the SC members. According to the relevant group directive the strategic tasks are allocated to the respective Chief Officers. In 2021, Magyar Telekom's Leadership Squad decided that, in line with its agile operations, the company would manage sustainability coordination in the form of a squad in the future. Therefore, the role of the Sustainability Committee has been taken over by the Sustainability Squad since 2022. 8.2 Results of the policies As a leading provider of info-communications services in the region, Magyar Telekom’s commitment to sustainable development with a focus on preserving the environment lies at the center of its mission. 2021 was spent developing a

275 long-term strategy, the Company outlined a 5 + 5 year vision instead of the previous 5-year perspectives. Climate protection remains a key priority in the new sustainability strategy. The Company’s emission reduction commitments pledged in 2018, which was approved by the Science Based Target Initiative (SBTi), were replaced by more ambitious targets in 2019 in response to the IPCC’s 1.5 °C report, have come into the main focus of the strategy. The Company is working to achieve the following goals by 2030: ▪ reduce absolute Scope 1 and 2 Greenhouse Gas (GHG) emissions 84% from a 2015 base year; ▪ reduce absolute Scope 3 GHG emissions 30% from a 2017 base year. The European Green Deal also prioritizes energy use and emissions of the ICT sector, recognizing that the sector can make a significant contribution to achieving 2050 climate neutrality through 5G, artificial intelligence, IoT and cloud services, but it can also increase its own energy consumption. As a first step, the European Union aims to increase energy efficiency in data centers and achieve climate neutrality by 2030. This is also one of the main pillars of Magyar Telekom’s new climate strategy, despite the fact that the Company’s total electricity consumption, including data centers, has been covered by renewable energy for many years (since 2016 at Company, since 2018 in Hungary), which has been set by Deutsche Telekom as a requirement for its member companies on a group-wide basis from 2021 onwards. In 2022 Magyar Telekom continued its carbon neutral 2 project. To achieve the carbon neutrality in 2022 - for the eighth year in a row - Magyar Telekom used 100% renewable energy for electricity consumption and offset the rest of its emissions, by purchasing and retiring 18,220 CER (Certified Emission Reduction) units from a Chinese green project. In 2022 the Company purchased 151,567 MWh of renewable energy with Guarantee of Origin. The additional highlighted environmental and operational ecoefficiency goals are: ▪ Increase the energy efficiency of buildings ▪ Decrease fleet consumption, promotion travel replacement solutions, and dematerialization solutions ▪ Introduction of sustainable and climate-friendly products and services ▪ Mapping and quantifying enablement effects in other sectors as a result of the services offered by the company ▪ Waste management: reduction of waste (increased recycling-rate) ▪ Measure the climate footprint of customers and suppliers ▪ Development of a circular economy for appliances provided to customers 8.3 Risks Based on the Business Continuity Management System (BCM) the company has identified the critical climate risks (floods, heat waves) that might affect its operations and the Company has prepared action plans for possible risk management. According to the annual assessment the rate of climate damage in the network did not reach the level of intervention (HUF 50 million damage/ month). In 2022, 546 cases had to be investigated due to different problems caused by the weather. During heatwaves, the company allows its colleagues to work remotely and increases the core temperature of datacenters and base stations in order to reduce the energy consumption. Physical risk of climate change in the Hungarian infrastructure was analyzed - in case of extreme temperature using different climate scenarios (RCP4.5 and RCP8.5). The riskiest extreme weather event could be flash flood, and 19-24 percent (depending on the scenario) of the infrastructure could be negatively affected by extreme hot weather in the next decades. This analysis will help us to be more resilient when modernizing the infrastructure. In setting the emission reduction targets, Magyar Telekom has considered the current Paris Climate Agreement and EU standards, as well as the IPCC’s 1.5 °C goals, but it is assumed that regulators will set stronger emission reduction targets in the future, which may involve financial risks. Current forecasts predict an increase in the energy consumption of mobile networks with the spread of 5G. However, one of the EU's goals is to significantly reduce energy consumption and plans to regulate data centers as a first step. Thanks to Magyar Telekom's forward-looking climate strategy, it enjoys an advantage over its competitors, even with stricter regulations. Opportunities In addition to its energy efficiency investments and carbon neutral operations, the company considers the use of renewable energies to be one of the most effective tools for combating climate change. Its long-term goal is to ensure the 2 carbon neutral means net zero GHG emissions

276 supply of electricity to the network as much as possible from renewable energy sources, therefore it has implemented the installation of solar systems in its own buildings in several stages. Magyar Telekom also provides an opportunity for its customers, who also consider combating climate change, to be able to choose a service that contributes to climate protection. That’s why in 2019 Magyar Telekom created the world’s unique ExtraNet Green 1GB 30-day option. Although the measures taken during the pandemic in 2020 reduced turnover after its success in 2019, the company still retains the option for its customers. In 2021, higher proportion of customers chose this expansion option out of the 1GB options than in previous years. 8.4 Performance indicators at company level Emissions below were calculated according to the GHG Protocol Corporate Standard. Cumulated GHG emission ▪ 83,060 tCO2e (tons of greenhouse gas emissions in carbon dioxide equivalent), when purchased renewable was not taken into account (location based emission) ▪ 18,220 tCO2e, when purchased renewable was taken into account (market based emission) Group GHG emission by categories ▪ Scope 1: 12,767 tCO2e (at the moment location based equal to market based) ▪ Scope 2: 47,629 tCO2e location based ▪ Scope 2: 3,298 tCO2e market based Energy efficiency – bits transmitted / energy consumption – 414 Gbit/kWh 9 CORPORATE COMPLIANCE When shaping the compliance program of Magyar Telekom, the goal was to ensure that Magyar Telekom pursues its business activity with maximum awareness of and commitment to compliance with the applicable laws and legal provisions, in accordance with the strictest norms of ethical business conduct. To this end, the company issued policy statements addressing the potentially arising compliance-related risks, and the company applies the procedures set out in these policy statements and arrange continuous training courses for its employees related to these procedures. The Company established clear concise processes to report, examine, follow up and correct suspected cases of non- compliance. The Corporate compliance program is supervised by the Group compliance officer. The Group compliance officer reports directly to the Audit Committee, and cooperates with the Board of Directors, the Supervisory Board and the management. The Corporate compliance program focuses on the Code of Conduct. The Code of Conduct of Magyar Telekom Plc. contains the summary of the compliance requirement within the company, sets common values of the Company and is a key to the strong position, reputation and successful future of Telekom. The Code of Conduct applies to everyone within the Magyar Telekom from the employees to the members of the Board. In addition, contracted partners of the Magyar Telekom also have to know and accept these values, when registering on the procurement website. In the year 2010, an external independent party audited the implementation of the Compliance program, and the company was awarded a certificate of compliance with the external expectations and of the implementation of the system. The program was revised in 2013, including other related areas as well – such as procurement, internal audit, HR, sales. The audit was not aimed only at the implementation and control of the system in the different areas, but it measured the operational efficiency of the control system. The Company met the expectations and was awarded by a certificate issued by Ernst&Young as independent external party. In 2017, again an external auditor (KPMG) evaluated the effectiveness of the compliance management system of Magyar Telekom, and issued a certification that the program complies with the requirements of the new anti-corruption ISO standard. In 2021 an external advisor (KPMG Germany) reviewed the Compliance program. They found the operation of the program efficient. The first distance learning course addressing compliance was started in 2008 in the topic of “Conscious recognition of fraud and corruption”. Since then, the company been providing a general eLearning course for its new employees,

277 mandatory for all colleagues joining to the company. The course is completed with the acceptance of the Code of Conduct. Since the start of the program, 101,359 distance learning courses were completed by the employees on group level, related to topics, such as compliance awareness, supplier due diligence, anti-corruption measures, incompatibility or insider trading. On the top of that, the Company has arranged personal training sessions for employees working in professional areas exposed to compliance and abuse related risks – both within the parent company and Hungarian and international subsidiaries – in the topics of organized anti-corruption behavior, screening of contracted partners and rules of giving and accepting gifts. In 2022 – similarly to the practice of the previous years – risk analyses were conducted with the participation of organizations and subsidiaries of Magyar Telekom Plc. Based on the results of the survey, a comprehensive audit was prepared for the potential compliance and abuse risks, the result of which was submitted to the Audit Committee of the Company. During the year Magyar Telekom checks the soundness of the reports submitted to its company in connection with unethical behavior, and if necessary, the Company act on these reports. In case the company identifies actual abuses, it takes care of the necessary and adequate countermeasures. Magyar Telekom published all cases of corruption and the related countermeasures in accordance with the related applicable laws and legal provisions. 9.1 Fight against bribery and corruption 9.1.1 Policies Magyar Telekom does not tolerate any attempts of corruption, so numerous procedures and policies were introduced to prevent and fight corruption. Magyar Telekom complies with the anti-corruption rules of the Group, and expects its business partners not to engage in unlawful activities (including breaching the anti-corruption laws) such as utilize any money or other services provided by Magyar Telekom for unlawful purposes. This also includes direct or indirect payments to individual(s) to improve the perception of Magyar Telekom (or any parties acting for Magyar Telekom) or to influence any business decision. Magyar Telekom strictly prohibits any form of corruption including (but not only), receiving personal advantages or monetary gains, accepting or providing bribes or promising facilitating payments. The Company also prohibits employees from making beneficial decisions towards family, friends or close or distant acquaintances. It is not allowed to provide any gift or invitation to an event to third parties if it could potentially influence any business transaction. Magyar Telekom does not support morally or financially any political parties, organizations or representatives of these. Magyar Telekom will not start business relations with third parties that violate the anti- corruption clauses of the Compliance Program or the basic principles of the Code of Conduct. Due Diligence procedures: There are no fixed procedures on how thorough due diligence should be to avoid legal responsibility or any investigation as per the anti-corruption laws. The aim of these procedures is to identify high-risk areas, and to provide indication when further due diligence or review is required. 9.1.2 Result of the policies During the year, the Company has verified the plausibility of any complaints the company has received about unethical behavior and initiated internal investigations if necessary. If the Company has identified any misconduct, it initiated the necessary measures and actions. Any complaints regarding breaches of internal or external rules can be sent to the Tell Me! portal of Magyar Telekom. Any questions regarding corporate compliance can be asked on the Ask Me! intranet portal. 9.1.3 Risk The basis and prerequisite of the efficient defense against breaches of laws and policies is the registering and analysis of compliance risks and identifying other compliance relevant cases at Magyar Telekom. The yearly Compliance Risk Assessment (CRA) handles active and passive corruption separately. The risk assessment always includes Magyar Telekom, T-Systems and Makedonski Telekom. Other subsidiaries can be included on a case-by-case basis, based on information originating from internal investigations. The CRA fully covers the abovementioned companies. The Group Compliance Officer informs the Audit Committee, the Board of Directors, and the management about the result of the risk assessment and gives an update about the status of the measures in every quarter.

278 10 ECONOMIC ENVIRONMENT AND OUTLOOK Economic environment in 2022 has been strongly shaped by the Russian-Ukrainian war. The already present global supply chain disturbances and the sharp increase in energy prices has been aggravated with surging prices spreading to other product categories as well leading to strong rise in the inflation rates worldwide. To tackle inflationary pressure central banks increased their base rates whilst economic activity started to slow down and, in some countries, reached the level of recession in the second half of 2022. The telecommunication industry has continued to play a critical role as the need for digitalization and demand for data remained strong. To be able to serve the sharp rise in data consumption, telecommunication providers continued to invest heavily into their networks, both fixed and mobile throughout the world. 10.1 Economic environment and outlook In the first half of 2022, Hungarian GDP was growing with a rate of over 7%, primarily driven by strong household consumption coupled with expansionary fiscal measures. However, in the third quarter, parallel with the slowdown of the global economy and tighter fiscal policy in Hungary, growth rates were more moderate, which tendency is expected to continue into the next quarters. At the same time, an acceleration of inflation was also witnessed, driven by sharp rise in energy and food prices while also fueled by the evolving wage-price spiral. To tackle the sharp rise in the inflation rate, the central bank raised the policy rate significantly during the year, tightening landing conditions and as such, posing further risks to economic growth. Looking ahead, the economy is expected to slow further, and inflation is also forecasted to remain elevated, posing further risks to economic performance. With regards to the Hungarian telecommunication sector, strong domestic demand, have resulted in favorable development in the operating environment, however, inflationary pressure, coupled with the introduction of the supplementary telecommunication tax put burden on the profitability of the sector’s companies. Looking ahead, there are significant uncertainties related to the economic and business developments, as well related to the changes in the competitive environment driven also by the change in ownership of Vodafone Hungary. To ensure the reliability and security of its networks and its leading position on the market, the management remains committed to invest in the Company’s infrastructure and continue with the customer centric operational approach going forward. 11 INTERNAL CONTROLS, RISKS AND UNCERTAINTIES 11.1 The presentation of the systems of internal controls and the evaluation of the activity in the relevant period Magyar Telekom’s management is committed to establishing and maintaining an adequate internal control system to ensure the reliability of the financial reports and minimize operating and compliance risks. Magyar Telekom’s internal control system is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in conformity with International Financial Reporting Standards (IFRS) as adopted by the European Union. For the business year 2022 control documentation and evaluation were accomplished in the IT supported ICS-Tool i system. Transaction Level Controls describe the controls built into the Company’s business processes that have been designed and operated to ensure that material misstatements in each significant financial account and disclosure within the financial statements of the Company are prevented or detected in a timely manner. Complete evaluation of the internal control system of Magyar Telekom is based on the method established in “Internal Control—Integrated Framework” issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The operation of the internal control system is supported also by the independent internal audit function. Beyond tasks regarding the risk based internal audit work plan, contributes to the enhancement of the internal control processes and to the reduction of existing risks through ad-hoc audits and ICS testing. The Internal Audit area follows up the implementation of the measures defined on the basis of the audits. The Supervisory Board and the Audit Committee inter alia also receive regular reports on the findings of the audits; measures, based on the findings and fulfilment of tasks. In line with the criteria of the adopted internal control framework, management evaluates the effectiveness of internal control system within each financial year. Management’s assessment for 2022 is finished and based on the collected i Internal Control System

279 information internal control system has been operating effectively to prevent potential material misstatements in the financial statements and minimize operating and compliance risks. The Company’s shareholders are being informed about the operation of its internal control system through its public reports. The management and Board of Directors of Magyar Telekom are committed to conducting all business activities of Magyar Telekom according to the highest legal and ethical standards. Based on this commitment, the Board of Directors established the Corporate compliance program of Magyar Telekom. The Corporate compliance program is applicable to all bodies, organizations, employees of Magyar Telekom, and advisors, agents, representatives as well as to all persons and organizations that work on behalf of the Company or its subsidiary. The Corporate compliance program of Magyar Telekom ensures that the business activities of the Company are conducted observing and in compliance with the relevant laws to the utmost extent, according to the highest standards of training and commitment. It requires the realization of guidelines and processes that manage potential compliance risks and implement specific processes in order to report, investigate, monitor and correct suspected or actual lack of compliance. 11.2 The utilization of financial instruments, risk management and hedging policies Introduction As Hungary's leading telecommunications and IT service provider Magyar Telekom is subject to uncertainties and changes of the telecommunications and IT industry. To operate successfully in this continuously changing environment risks have to be systematically identified, assessed and managed. The risk management system is not only needed from a business point of view, but as a company listed in the stock market, Magyar Telekom is obliged to operate a risk management system and prepare a risk report to inform its investors. Upon the establishment of the comprehensive risk management system the Company acts in line with the relevant requirements of the Budapest Stock Exchange, as well as the rules laid down in the applicable international standards. The Group level risk management system covers strategic, operational, financial, compliance and legal risks, which is also applicable to the consolidated subsidiaries of the Company. The objective is to identify, monitor and manage these risks in an early phase. Risk management guidelines It is the policy of the Company that all disclosures to its shareholders and the investment community be accurate and complete, and fairly present the financial condition and results of the Company in all material respects. Such disclosures should be made on a timely basis as required by applicable laws, rules and regulations. To achieve these objectives, Magyar Telekom continuously develops and regularly reviews the functionality and effectiveness of the elements of its risk management system. The risk management includes the identification, assessment and evaluation of risks, the development of necessary action plans, as well as the monitoring of performance and results. The risk management organization and process: Magyar Telekom performs its risk management activities in accordance with the risk management guidelines developed by the Magyar Telekom’s Group level risk management organization and approved by the Boards of Directors. The risk owners of the individual organizations are responsible for identifying, reporting, assessing and monitoring risks on a continuous basis, in line with the framework of the risk management process, under the governance of the central risk management organization. Magyar Telekom's Group level risk report is regularly submitted to the Board of Directors, the Audit Committee and the Supervisory Board as well as to Deutsche Telekom's risk management organization. During the annual planning process, the management takes into account potential risks. The established risk management standard provides a process framework:

280 ▪ following the identification of risks, they are analyzed, assessed and quantified in detail, then they are quantified (by estimating their probability of occurrence and potential impact) according to a predefined methodology. The assessment of risk assessment enables the management to focus more effectively on those risks that have a significant impact on the company's strategic objectives. ▪ following the assessment, the decision is made on the specific measures to reduce risks, ▪ the relevant risk owner implements, monitors and evaluates the relevant measures, and ▪ these steps are repeated as necessary to reflect actual developments and decisions. For the risk management to be effective, Magyar Telekom must ensure that the management takes business decisions with full understanding of all relevant risks that the organization of the Company supports through Magyar Telekom’s regular Group level risk report. However, Magyar Telekom also continuously assesses and manages the risks related to its business plans and take them into account in its risk management process. Identification, review and reporting of risks: Risk items affecting the operations of Magyar Telekom are reviewed regularly throughout the Company. All of the subsidiaries and entities are obliged to identify and report their operational risks on a quarterly basis. After the evaluation of these risks, results are reported to the Company’s management, to the Board of Directors, to the Audit Committee and the Supervisory Board. This regular reporting ensures that the most significant risks are monitored, up-to-date risk mitigation measures are implemented and regularly monitored. The risk reporting system of the Company is complemented with a continuous reporting procedure which requires all the departments and subsidiaries to report on a real-time basis any new fact, information or risk fulfilling the reporting obligations that comes to their knowledge. Information thus submitted is monitored and evaluated by the risk management area and the Chief Financial Officer is notified when a new material risk or information is identified. An internal regulation has been issued to define responsibilities of each employee in risk monitoring and management. The risk assessment is carried out for a two-year period. If there are significant risks beyond the risk assessment period, such risks are monitored by the Company on a continuous basis. Opportunities Besides the systematic management of risks the identification of opportunities and their strategic and financial assessment are also essential parts of Magyar Telekom’s annual planning process. This allows the Company to take these opportunities into account in its forecasts. 11.3 Main risk factors The Company’s financial condition, results of operations or the market prices of its securities could be materially adversely affected by any of the risks described below. These risks are not the only risks the company faces. Additional risks not currently known to the company, or risks that the company currently regard as immaterial, could also have a material adverse effect on its financial condition, results of operations or security prices. Regulatory risks ▪ Magyar Telekom operates within a strictly regulated market environment. Most of the regulatory framework is the result of EU legislation. Hungary implemented the new EU regulatory framework (1972/2018/EU) by end of 2020. Risk management activities: ▪ The Company cooperates and maintains an active dialogue with regulators. ▪ The Company maintains processes to ensure compliance and provide timely and accurate information to regulators. Legal risks ▪ Regulatory cases and legal disputes with parties could have an effect on the Company’s results of operations.

281 Risk management activities: ▪ Protecting its interest and values through legal representation, continuous management and monitoring of legal disputes. ▪ See also the compliance risk management activities. Financial risks ▪ For details on financial risks and their management, see Note 5 of the Financial Statements. ▪ Developments in the technology and telecommunications sectors may result in impairment of the book value of certain of the company’s assets. ▪ Unpredictable changes in the Hungarian tax regulations may have an adverse effect on its results. ▪ Fluctuations in the exchange rates could have an adverse effect on its results of operations. ▪ Economic, geopolitical trends in Hungary and in other countries could have an adverse impact on the value of the company’s investments, operating results or financial situation. ▪ The increasing trend of inflation, could erode Magyar Telekom's results with limited predictability. ▪ The global energy crisis has emerged recently, with the prices of several major energy commodities and electricity rising sharply, the significant price increasing affecting several products, including natural gas, oil, coal and electricity. Risk management activities: ▪ The company continuously analyzes financial actual data and provide forecasts on financial indicators. ▪ The company monitors technological developments and its competitors’ activities. ▪ The company carries out sensitivity analyses (e.g. foreign exchange, free cash flow). ▪ The company tests all key controls on an annual basis. ▪ The company continuously improves its processes, systems for the purpose of automated accounting, reporting and auditing. ▪ The company constantly monitors energy prices to ensure that it purchases energy at a proper price level. Strategic risks ▪ The Company is subject to intense competition in the fixed business due to overlaps with its competitors on more and more locations as a result of the network roll-outs. ▪ The Company is subject to intense competition in SI/IT segment. ▪ Adaption to new trends and technological changes in the telecommunications market (IoT, Big Data, AI, 5G) might be a serious challenge. ▪ Its business may be adversely affected by actual or perceived health risks associated with mobile communications technologies, and unsubstantiated and rapidly spreading news about new technologies. ▪ Sustainability: information on the Company's approach to sustainability risks and opportunities can be found in Note 7 “Sustainability” of the Business Report. Risk management activities: ▪ The company continuously invests in the development of its network. ▪ The company transform its internal processes to be even better prepared for future challenges. ▪ The company monitors technological developments and its competitors' activities. ▪ The company pursues responsible and sustainable business activities. ▪ In order to maintain trust and reputation the company continuously informs its key stakeholders on its plans, risks and achievements. ▪ The company integrates digital initiatives into its long-term planning and align their technology and business strategies. Operational risks ▪ The future of its current operational model is subject to currently unforeseeable changes in the future business environment.

282 Risk management activities: ▪ The Company has a flexible business model. The company closely monitors the competitive environment in all markets and responds accordingly to both consumer and business segment needs. ▪ Its price offers are competitive in the markets where the company operates. ▪ The Company supports its business customers with its innovative products to increase efficiency. ▪ The Company transforms its internal processes to be even better prepared for future challenges. ▪ The impact of a pandemic can affect its entire risk environment. Risk management activities: ▪ Experiences in reacting to effects of COVID-19 have become part of the Company’s everyday operation. Due to the nature of the telecom industry and the importance of communication services in a pandemic the company continuously strengthen its digital strategy. ▪ The Company continuously invests in the development of its network to prepare for the challenges of the future and to successfully continue to ensure the operation and capacity of its network infrastructure. ▪ Magyar Telekom can ensure the health protection, productivity and efficient way of working of employees by creating and enabling conditions for teleworking. ▪ System failures could result in reduced user traffic and revenue, could lead to penalties and could harm the companx’s reputation. Risk management activities: ▪ Magyar Telekom operates network monitoring systems and defines recovery goals to minimize service outages. ▪ Magyar Telekom considers it of key importance to inform its customers in a timely manner about service problems thus the company operates an advanced information system. ▪ Loss of key personnel could weaken its business. Risk management activities: ▪ Operation of an advanced human resources strategy, for further details see Note 3 (“Social commitments, labor standards, human rights”) of the Business Report. ▪ The number of cyber-attacks has increased significantly in the whole world. Cybersecurity risks have worsened due to the pandemic, as work, shopping, social interactions and education have become significantly digitized. The quick change increased the vulnerability of organizations to cyber-attacks. Also, teleworking may increase the risk of fraud and misuse of business information and data, as well as unauthorized access, theft and fraudulent use of data. Risk management activities: ▪ Magyar Telekom provides services with highest security-standards and constantly tests and updates its cyber security countermeasures. ▪ Magyar Telekom performs regular audits on key security risks affecting its business and maintains strategies to identify, prevent and respond to these challenges. ▪ The Company’s cybersecurity approach focuses on minimizing the risk of cyber security incidents impacting its networks, systems and services. ▪ Magyar Telekom promotes conscious conduct among its colleagues via communication, campaigns and training. ▪ Data protection incidents are punishable with very high fines. Despite mitigating measures and well-designed data protection management structures data protection incidents and compliance deficiencies cannot be entirely excluded. There may be problems that can have a negative impact on Magyar Telekom's reputation and may incur costs and other legal consequences (including fines). ▪ Risk management activities: ▪ In order to ensure data protection compliance and to avoid other legal consequences (fines) the company pays special attention to process personal data in line with the principle of purpose limitation, privacy by design and

283 privacy by default, apply the proper legal basis for processing, as well as data security measures to avoid system failures that may impact a large number of subscribers, employees or any other data subjects. ▪ The Company regularly provides its colleagues data protection and data security trainings and other tools to help them make better and risk-conscious decisions. ▪ The increased penetration of artificial intelligence systems requires a high level of attention and can have serious legal consequences if not properly applied. Risk management activities: ▪ Magyar Telekom incorporates related guidelines and requirements into its processes and provide regular legal and compliance support for business decisions in the use and development of artificial intelligence systems. ▪ In the course of use of artificial intelligence systems, if personal data processing is also involved, Magyar Telekom pays special attention to the compliance with the data protection requirements. ▪ Procurement and supply chain: the company cooperates with a wide range of vendors. High risk products and services include hardware, network technology components, and all products and services provided directly to end users. Supply risks cannot be entirely avoided. Epidemics, transportation bottlenecks, price increases, changes in the economic or political environment or the suppliers' product strategies may have a negative impact on the company’s business processes and results. Further risks may arise from dependencies on specific suppliers or from their default. Risk management activities: ▪ In order to reduce the company’s exposure to risks the company implements organizational, operational and profession-specific procurement strategies. Its procurement processes are planned and are monitored through regular internal and external controls. Key professional factors for managing procurement risks: proactive management of the supplier base, supplier segmentation, risk analysis of strategic and critical suppliers and continuous active contact keeping together with the business areas. Compliance risks ▪ Violation of laws may result in loss of trust, financial sanctions, impairment of the company’s shareholder value and other sanctions. Serious violation of laws may lead to criminal proceedings, litigation and regulatory actions. Risk management activities: ▪ The company operates a compliance framework program for the identification, regular assessment and mitigation of risks. ▪ Magyar Telekom trains its employees, runs awareness raising programs that explain its ethical norms throughout the organization and help the employees to understand their role in ensuring compliance. ▪ The Company supports a culture where its colleagues can voice their concerns, so company can identify problems and prevent them from happening again. 11.4 Financial risk management The classification of the Company’s financial instruments is described in detail in Note 4 and the financial risk management of the Company is described in detail in Note 5 of the Financial Statements.

284 12 ANALYSIS OF FINANCIAL RESULTS FOR 2022 12.1 Revenues Total revenue increased from HUF 548.3 billion in 2021 to HUF 593 billion in 2022, driven primarily by the growth in mobile data revenues coupled with higher equipment sales, as well as increased fixed broadband revenues. Mobile revenue increased to HUF 386.2 billion in 2022 compared to HUF 350 billion in 2021, reflecting the continued positive momentum in mobile data usage. ▪ Voice retail revenue declined by 1.7 % to HUF 104 billion in 2022, reflecting competition-driven price erosion and lower usage levels. ▪ Voice wholesale revenue was down by 4.2% to HUF 8.5 billion in 2022, as a result of lower incoming traffic. ▪ Data revenue grew by 20.6 % to HUF 131.2 billion in 2022, driven by the continued growth in subscriber numbers and strong demand for mobile data usage. ▪ SMS revenue was broadly stable at HUF 22.6 billion in 2022, as somewhat lower revenues from mass messaging was offset by higher usage driven by the increasing retail postpaid customer bases. ▪ Mobile equipment revenue increased by 12.7% to HUF 106.5 billion in 2022, driven primarily by increase in the average handset prices. Fixed line revenue increased to HUF 197.3 billion in 2022, up from HUF 187.9 billion in 2021 as a result of higher broadband and TV revenues. ▪ Voice retail revenues decreased by 7.4 % to HUF 29.4 billion in 2022, primarily due to a further decline in the customer base in Hungary. ▪ Broadband retail revenues increased by 17.5% to HUF 62.4 billion in 2022, thanks to further growth of the customer base that was coupled with continued strong demand for bandwidth upgrade transactions in Hungary. These developments were further strengthened by the absence of the mandatory monthly fee allowance in place in 2021 for students and teachers to help with online education during the pandemic. ▪ TV revenues increased by 8.4% to HUF 50.6 billion in 2022, thanks to higher revenues reflecting the continued expansion of the IPTV customer bases. ▪ Fixed equipment revenues declined by 18.7% to HUF 16.2 billion in 2022, reflecting lower volume of the equipment sold at the Hungarian operation. ▪ Data retail revenues rose by 2.8 % to HUF 10.5 billion in 2022 thanks to higher revenue from leased line fixed internet services. ▪ Wholesale revenues were up by 1.5 % to HUF 13.1 billion in 2022 thanks to higher wholesale fixed access revenues. System Integration (SI) and IT revenues recorded a decline of 9.8 % to HUF 9.4 billion in 2022, compared to HUF 10.4 billion in 2021, primarily driven by lower public sector demand in Hungary. 12.2 Direct costs Direct cost increased from HUF 233.3 billion in 2021 to HUF 252.3 billion in 2022, primarily due to higher costs of equipment sales. ▪ Interconnect cost decreased by 5.3 % to HUF 18.2 billion in 2022, reflecting lower usage levels at the Hungarian operation. ▪ SI/IT service-related costs declined by 7.3 % to HUF 8 billion in 2022, reflecting lower volume of related projects during the year. ▪ Impairment losses were lower by 30.7% at HUF 6.8 billion in 2022 due to lower net level of forward-looking impairment recognized than in 2021. ▪ Telecom tax was lower by 2.1% at HUF 26.2 billion in 2022, reflecting lower mobile voice usage among business customers as well as the decline in fixed residential voice traffic.

285 ▪ Other direct costs increased by 14.3 % to HUF 193.1 billion in 2022, driven primarily by higher equipment costs coupled with an increase in roaming outpayments. 12.3 Gross profit Gross profit increased to HUF 340.7 billion in 2022, from HUF 314.5 billion in 2021, reflecting the increase in revenues. 12.4 Employee-related expenses Employee-related expenses rose by 0.7 % year-on-year to HUF 56.5 billion in 2022, driven by wage increase and one-off compensation paid to employees which offset the lower severance expenses. 12.5 Supplementary telecommunication tax Supplementary telecommunication tax, imposed by the Government of Hungary with its decree issued on June 4, is levied on the actual business year’s annual net sales of electronic telecommunication services as defined by the law on local taxes and is payable for the full years 2022 and 2023. Consequently, a HUF 24.5 billion expense was booked in relation to the 2022 supplementary tax charge. 12.6 Other operating expenses Other operating expenses decreased from HUF 63.7 billion in 2021 to HUF 63.3 billion in 2022 driven by higher maintenance and subcontractor costs. 12.7 EBITDA EBITDA grew to HUF 196.4 billion in 2022 versus HUF 195.1 billion in 2021, thanks to higher gross profit that fully offset the increase in indirect cost and the negative impact of the introduction of supplementary telecommunication tax in Hungary. 12.8 Depreciation and amortization Depreciation and amortization (D&A) expenses declined to HUF 114.2 billion in 2022 from HUF 122.7 billion in 2021. Lower D&A expenses were attributable to full copper network retirement in some areas of Hungary, lower software related depreciation expenses thanks to the optimization of the IT infrastructure and the proportionally lower amortization of the spectrum licenses that expired in April 2022 and were since reacquired. 12.9 Operating profit Operating profit rose from HUF 75.7 billion in 2021 to HUF 86.8 billion in 2022 thanks to the combined impact of improvement in EBITDA and lower D&A expenses. 12.10 Net financial result Net financial result declined from a loss of HUF 13 billion loss in 2021 to a loss of HUF 23.8 billion loss in 2022. Interest expense increased driven by higher interest related to lease liabilities and higher average interest costs whilst the unfavorable change in other finance expense reflects higher losses related to the significant weakening of the forint during the period. This letter offset the higher level of gains from the recognition of derivatives at fair value. 12.11 Income tax Income tax expense rose from HUF 13.9 billion in 2021 to HUF 14.1 billion in 2022 driven by the higher profit before tax.