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BT Group plc

BT Group plc. Annua l General Meeting. 19 July 2007. Sir Christopher Bland - Chairman. BT Group – Financial headlines. FY 2006/7. Group revenue £20.2bn. 4%. EBITDA (1) £5.6bn. 2%. Earnings per share (1) 22.7p. 16%. Full year dividend 15.1p. 27%.

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BT Group plc

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  1. BT Group plc Annual General Meeting 19 July 2007

  2. Sir Christopher Bland - Chairman

  3. BT Group – Financial headlines FY 2006/7 Group revenue £20.2bn 4% EBITDA (1) £5.6bn 2% Earnings per share (1) 22.7p 16% Full year dividend 15.1p 27% • Before specific items

  4. EPS – Five years of continuous growth pence EPS 22.7p up 16% 24 20 16 12 8 4 0 2001/2 2002/3 2003/4 2004/5 2005/6 2006/7 UKGAAP, April 2001 – March 2004, before exceptional items and goodwill from continuing activities IFRS, April 2004 – March 2007, before specific items

  5. Distribution policy Dividend 15.1p up 27% pence • Dividends • Two thirds payout ratio reached one year early • Expect to increase dividends, taking into account our earnings growth, cash generation and our ongoing investment needs • Share buy back • New £2.5bn programme • - expected completion March 2009 16 14 12 10 8 6 4 2 0 2001/2 2002/3 2003/4 2004/5 2005/6 2006/7 Returned £4.8bn in dividends and share buyback over the last 5 years

  6. Share price BT Share price 334.25p on 16/07/07 44% BT Share price 231.75p on 14/07/06 17%

  7. BT Group – 2001 headlines Bloomin’ TerribleBT turmoil as shares slump 66% in a year BT fights to tame £30bn debt BT’s wrong numbers 23 Mar ‘01 22 Mar ’01 20 Mar ‘01 BT buried in debtCompany seeks to refinance loans BT poised for cash call dash BT at the end of the line 27 Mar ‘01 26 Mar ‘01 23 Mar ‘01

  8. My original checklist

  9. Improved service Price innovation Reduce costs / improve margin Aggressive & creative marketing BT Group strategy Long term Partnership with our customers Defend traditional Grow new wave • NetworkedIT services • Broadband • Mobility 21st Century Network ... Consistent delivery

  10. Strategy in action Delivering today Delivering tomorrow • BT Vision – multi-channel TV with no compulsory subscription • 21st century network – leading the world in building a broadband IP network for all • Transformation into a leading service provider • Broadband – 11m connections and over 99% coverage • Networked IT services - £4.4 billion annual revenue • Global capability in over 170 countries

  11. The way we work BT made Company of the Year by Business in the Community Open, constructive relationship with the regulator

  12. Board changes

  13. Board changes

  14. Board changes

  15. Board changes

  16. Board changes

  17. Board changes

  18. Board changes

  19. Board changes

  20. Board changes

  21. BT Group 2006/7 headlines Magic £3 mark A Perfect Day BT Bonanza 17 Dec ‘06 21 Dec ‘06 18 May ‘07 Internet King BT to return £2.5 billion Bland leaves BT set to reach for the sky BT regains top spot in broadband 18 May ‘07 18 May ‘07 18 May ‘07

  22. Sir Christopher Bland - Chairman

  23. Bringing it all together Annual General Meeting 19 July 2007

  24. Ben Verwaayen Chief Executive

  25. Improved service Price innovation Reduce costs / improve margin Aggressive & creative marketing BT Group strategy Long term Partnership with our customers Defend traditional Grow new wave • NetworkedIT services • Broadband • Mobility 21st Century Network ... Consistent delivery

  26. FY 2006/7 – Revenue UP 4% £bn + 17% 7.4 6.3 - 3% 13.2 12.8

  27. Revenue – New wave driving transformation £bn CAGR 30% CAGR in 4 years + 44% + 71% Mobility & Other + 20% Broadband Networked IT Services

  28. BT Global Services – 2006/7 order intake £9.3bn Signed 858 new customers

  29. Broadband Wholesale Retail The UK’s number 1 broadband retailerby market share ISP of the yearMac Magazine 2006 Awards Most trusted ISP 2007Reader’s Digest > 10.7 million connections at 31/3/07 LLU Mn Other ISP’s Retail * Mar-04 Mar-05 Mar-06 Mar-07

  30. BT Total Broadband • Home IT advisor • 40,000 users • VoIP • 1.4m registered users • BT Digital Vault • 125,000 users • Home hubs • Over 1 million • BT Vision • National marketing campaign • under way

  31. Delivering Value for our customers • Consumer • BT Together • BT Total Broadband • BT Fusion & BT Vision • Corporates • Networked IT services • Local service, global delivery • Expanded portfolio of capabilities • Other operators • Managed Service • Broadband • Local access for telephony • and broadband • Business • BT Business One Plan • BT IT Manager • BT Office Anywhere More efficient Simpler Faster Higher quality

  32. Keys to our transformation Real time Global Open From traditional telco… … to leading services provider with global capabilities

  33. Transformation to Service Provider • To enable • Customer to focus on what they do best • Software solutions • Global delivery and reach • To deliver • Right first time service • Where our customers are • A simplified organisation • To reduce • Complexity • Cost base • Time to market • To improve • Customer service • Efficiency • Free cash flow

  34. Bringing it all together • Strategy built around convergence & innovation • 17% growth in new wave revenues • Corporate transformation • From traditional telco to leading services provider with global capabilities • Strong momentum with track record of delivery • Twenty quarters of EPS growth • Thirteen quarters of revenue growth • Five quarters of EBITDA growth • Continue to grow revenue, EBITDA*, EPS*and dividends in 2007/8 * Before specific items and leavers

  35. BT Group plc Annual General Meeting 19 July 2007

  36. BT Group plc Annual General Meeting July 2007

  37. Resolution 1 Reports and accounts 4,690,961,416 7,879,073 1,540,670

  38. Resolution 2 Directors’ remuneration report 3,039,747,846 130,725,306 1,529,908,007

  39. Resolution 3 Final Dividend 4,698,432,613 678,005 1,270,541

  40. BT Group plc Annual General Meeting July 2007

  41. Resolution 4 Re-elect Sir Christopher Bland 4,665,303,524 32,179,017 2,898,618

  42. Resolution 5 Re-elect Andy Green 4,676,367,376 18,232,668 5,781,115

  43. Resolution 6 Re-elect Ian Livingston 4,678,250,916 19,041,422 3,088,821

  44. Resolution 7 Re-elect John Nelson 4,685,502,100 11,541,397 3,337,662

  45. Resolution 8 Elect Deborah Lathen 4,683,490,802 12,907,229 3,983,128

  46. Resolution 9 Elect François Barrault 4,684,502,467 11,963,701 3,914,991

  47. Resolution 10 Reappointment of auditors 4,679,050,873 7,394,391 13,935,895

  48. Resolution 11 Remuneration of auditors 4,678,136,507 7,977.341 14,267,311

  49. BT Group plc Annual General Meeting July 2007

  50. Resolution 12 Authority to allot shares 4,655,261,395 41,386,501 3,733,263

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