• Reinvestment plan to provide eligible minority shareholders opportunity to reinvest cash distribution
• Institutional and retail components with potential to raise up to $688 million
• Aims to increase minority ownership, improve trading liquidity, and maintain free float market capitalization

TPG Telecom Limited (ASX: TPG) has announced the launch of its Reinvestment Plan, which is intended to provide eligible minority shareholders the opportunity to reinvest all or part of their $1.61 per share cash distribution for new TPG Telecom shares (New Shares). The Reinvestment Plan is not underwritten and has the potential to raise up to approximately $688 million. It comprises an institutional and retail component. The Institutional Reinvestment Plan will open on Monday, 17 November 2025 with potential to raise up to approximately $550 million, with New Shares issued at a 5.0% discount to TPG Telecom's last closing price. The Retail Reinvestment Plan is expected to open on Thursday, 20 November 2025 and close on Friday, 5 December 2025, with New Shares offered at the lower of the Institutional Reinvestment Plan Price or a 5.0% discount to the 5-day VWAP. The Reinvestment Plan is being undertaken to increase minority ownership, improve trading liquidity, and maintain TPG Telecom's free float market capitalization following the cash distribution. It represents the final step of TPG Telecom's capital management and liquidity plans.

TPG Telecom confirms the FY25 EBITDA guidance of $1,605 million to $1,655 million, provided at its half year results on 28 August 2025, remains unchanged and FY25 capital expenditure guidance reduced to $770 million.