THE HAGUE (dpa-AFX) - KPN reported that its fourth-quarter net profit was
206 million euros, an increase of 16 million euros or 8.4% from the prior year,
mainly driven by higher EBIT, partly offset by higher financing costs and lower
results from associates and joint ventures.

Operating profit or EBIT for the fourth quarter was 323 million euros up 11%
from 291 million euros in the previous year.

Adjusted EBITDA AL for the fourth quarter increased 2.2% year-over-year to 611
million euros. Higher service revenues were partly offset by higher indirect
costs such as wages, energy and other inflationary effects.

Quarterly adjusted revenues increased 4.3% year-on-year to 1.42 billion euros,
driven by continued Group service revenue growth, with all segments
contributing.

KPN intends to pay a regular dividend per share of 15.0 euros cents over 2023.
The final regular dividend of 9.8 euros cents per share is subject to
shareholder approval at the Annual General Meeting of Shareholders on 17 April
2024.

KPN reiterated the 2027 ambitions presented at its Capital Markets Day.

For fiscal year 2024, the Free Cash Flow outlook is raised to about 880 million
euros despite headwinds from higher cash taxes and increased interest payments.
The other outlook items have been reiterated with Group service revenue growth
of approximately 3%, adjusted EBITDA AL of about 2.48 billion euros and Capex of
about 1.2 billion euros. The expected dividend payout over 2024 is 17.0 euros
cents per share, an increase of 13% year-on-year.

KPN reiterates its intention to execute a new share buyback program of 200
million euros in 2024.

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