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BT Group plc Annual General Meeting 19 July 2007 BT Group plc Annual General Meeting 19 July 2007

Sir Christopher Bland - Chairman Sir Christopher Bland - Chairman

BT Group – Financial headlines FY 2006/7 Group revenue EBITDA £ 20. 2 bn BT Group – Financial headlines FY 2006/7 Group revenue EBITDA £ 20. 2 bn £ 5. 6 bn (1) Earnings per share Full year dividend (1) Before specific items (1) 4% 2% 22. 7 p 16% 15. 1 p 27%

EPS – Five years of continuous growth pence EPS 22. 7 p up 16% EPS – Five years of continuous growth pence EPS 22. 7 p up 16% 24 20 16 12 8 4 0 2001/2 2002/3 2003/4 2004/5 2005/6 UKGAAP, April 2001 – March 2004, before exceptional items and goodwill from continuing activities IFRS, April 2004 – March 2007, before specific items 2006/7

Distribution policy Dividends • Dividend 15. 1 p up 27% pence Two thirds payout Distribution policy Dividends • Dividend 15. 1 p up 27% pence Two thirds payout ratio reached one 16 year early 14 • Expect to increase dividends, taking into account our earnings growth, 12 cash generation and our ongoing 10 investment needs 8 Share buy back • New £ 2. 5 bn programme - expected completion March 2009 6 4 Returned £ 4. 8 bn in dividends and share buyback over the last 5 years 2 0 2001/2 2002/3 2003/4 2004/5 2005/6 2006/7

Share price BT Share price 334. 25 p on 16/07/07 44% BT Share price Share price BT Share price 334. 25 p on 16/07/07 44% BT Share price 231. 75 p on 14/07/06 17%

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

My original checklist My original checklist

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

Strategy in action Delivering today • Broadband – 11 m connections and over 99% Strategy in action Delivering today • Broadband – 11 m connections and over 99% coverage Delivering tomorrow • BT Vision – multi-channel TV with no compulsory subscription • Networked IT services - £ 4. 4 billion annual revenue • 21 st century network – leading the world in building a broadband IP network for all • Global capability in over 170 countries • Transformation into a leading service provider

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

Board changes Board changes

Board changes Board changes

Board changes Board changes

Board changes Board changes

Board changes Board changes

Board changes Board changes

Board changes Board changes

Board changes Board changes

Board changes Board changes

BT Group 2006/7 headlines Magic £ 3 mark A Perfect Day BT Bonanza 17 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

Sir Christopher Bland - Chairman Sir Christopher Bland - Chairman

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

Ben Verwaayen Chief Executive Ben Verwaayen Chief Executive

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

FY 2006/7 – Revenue UP 4% £bn + 17% 6. 3 7. 4 - FY 2006/7 – Revenue UP 4% £bn + 17% 6. 3 7. 4 - 3% 13. 2 12. 8

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

BT Global Services – 2006/7 order intake £ 9. 3 bn Signed 858 new BT Global Services – 2006/7 order intake £ 9. 3 bn Signed 858 new customers

Broadband Wholesale Retail > 10. 7 million connections at 31/3/07 The UK’s number 1 Broadband Wholesale Retail > 10. 7 million connections at 31/3/07 The UK’s number 1 broadband retailer by market share LLU Other ISP’s Mn Retail * ISP of the year Mac Magazine 2006 Awards Most trusted ISP 2007 Reader’s Digest Mar-04 Mar-05 Mar-06 Mar-07

BT Total Broadband Home IT advisor - 40, 000 users Vo. IP - 1. BT Total Broadband Home IT advisor - 40, 000 users Vo. IP - 1. 4 m registered users BT Digital Vault - 125, 000 users Home hubs - Over 1 million BT Vision - National marketing campaign under way

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

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

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

Bringing it all together • Strategy built around convergence & innovation – 17% growth 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

BT Group plc Annual General Meeting 19 July 2007 BT Group plc Annual General Meeting 19 July 2007

Resolution 1 Reports and accounts 4, 690, 961, 416 Proxy Votes For Against 7, Resolution 1 Reports and accounts 4, 690, 961, 416 Proxy Votes For Against 7, 879, 073 Vote Withheld 1, 540, 670

Resolution 2 Directors’ remuneration report 3, 039, 747, 846 Proxy Votes For Against 130, Resolution 2 Directors’ remuneration report 3, 039, 747, 846 Proxy Votes For Against 130, 725, 306 Vote Withheld 1, 529, 908, 007

Resolution 3 Final Dividend 4, 698, 432, 613 Proxy Votes For Against 678, 005 Resolution 3 Final Dividend 4, 698, 432, 613 Proxy Votes For Against 678, 005 Vote Withheld 1, 270, 541

Resolution 4 Re-elect Sir Christopher Bland 4, 665, 303, 524 Proxy Votes For Against Resolution 4 Re-elect Sir Christopher Bland 4, 665, 303, 524 Proxy Votes For Against 32, 179, 017 Vote Withheld 2, 898, 618

Resolution 5 Re-elect Andy Green 4, 676, 367, 376 Proxy Votes For Against 18, Resolution 5 Re-elect Andy Green 4, 676, 367, 376 Proxy Votes For Against 18, 232, 668 Vote Withheld 5, 781, 115

Resolution 6 Re-elect Ian Livingston 4, 678, 250, 916 Proxy Votes For Against 19, Resolution 6 Re-elect Ian Livingston 4, 678, 250, 916 Proxy Votes For Against 19, 041, 422 Vote Withheld 3, 088, 821

Resolution 7 Re-elect John Nelson 4, 685, 502, 100 Proxy Votes For Against 11, Resolution 7 Re-elect John Nelson 4, 685, 502, 100 Proxy Votes For Against 11, 541, 397 Vote Withheld 3, 337, 662

Resolution 8 Elect Deborah Lathen 4, 683, 490, 802 Proxy Votes For Against 12, Resolution 8 Elect Deborah Lathen 4, 683, 490, 802 Proxy Votes For Against 12, 907, 229 Vote Withheld 3, 983, 128

Resolution 9 Elect Fran çois Barrault 4, 684, 502, 467 Proxy Votes For Against Resolution 9 Elect Fran çois Barrault 4, 684, 502, 467 Proxy Votes For Against 11, 963, 701 Vote Withheld 3, 914, 991

Resolution 10 Reappointment of auditors 4, 679, 050, 873 Proxy Votes For Against 7, Resolution 10 Reappointment of auditors 4, 679, 050, 873 Proxy Votes For Against 7, 394, 391 Vote Withheld 13, 935, 895

Resolution 11 Remuneration of auditors 4, 678, 136, 507 Proxy Votes For Against 7, Resolution 11 Remuneration of auditors 4, 678, 136, 507 Proxy Votes For Against 7, 977. 341 Vote Withheld 14, 267, 311

Resolution 12 Authority to allot shares 4, 655, 261, 395 Proxy Votes For Against Resolution 12 Authority to allot shares 4, 655, 261, 395 Proxy Votes For Against 41, 386, 501 Vote Withheld 3, 733, 263

Resolution 13 Authority to allot shares for cash* *Special resolution 4, 686, 626, 092 Resolution 13 Authority to allot shares for cash* *Special resolution 4, 686, 626, 092 Proxy Votes For Against 9, 444, 399 Vote Withheld 4, 310, 668

Resolution 14 Authority to purchase own shares* *Special resolution 4, 609, 658, 522 Proxy Resolution 14 Authority to purchase own shares* *Special resolution 4, 609, 658, 522 Proxy Votes For Against 6, 594, 827 Vote Withheld 84, 127, 810

Resolution 15 Authority to use electronic communications* *Special resolution 4, 680, 669, 745 Proxy Resolution 15 Authority to use electronic communications* *Special resolution 4, 680, 669, 745 Proxy Votes For Against 12, 524, 737 Vote Withheld 7, 186, 677

Resolution 16 Authority for political donations 4, 579, 323, 754 Proxy Votes For Against Resolution 16 Authority for political donations 4, 579, 323, 754 Proxy Votes For Against 62, 870, 366 Vote Withheld 58, 187, 039

Poll on Resolution X Using your Form of proxy/Admission card: • If voting all Poll on Resolution X Using your Form of proxy/Admission card: • If voting all shares “ for”, place a tick ( ) in “For” box • If voting all shares “ against ”, place a tick ( ) in “Against ” box • If voting all shares “ vote withheld ”, place a tick ( ) in “Vote withheld ” box • If splitting vote, indicate the number of shares voting “ for” “against ” and “vote withheld ” • Please sign the card • Place completed card in ballot box as you leave • Please ask a marshal if you have any questions

Poll on Amendment to Resolution X Using your voting paper: • If voting all Poll on Amendment to Resolution X Using your voting paper: • If voting all shares “ for” amendment, tick “ For” box in Column 2, alongside appropriate resolution number • If voting all shares “ against ” amendment, tick “ Against ” box in Column 3 • If splitting vote, enter the appropriate number of shares in Columns 2 and 3 • Write name, address and account number in Box 1 • Sign the voting paper in Box 2 and hand it to marshal at end of row • Please ask a marshal if you have any questions

Poll on Procedural Resolution X Using your voting paper: • Delete Box A • Poll on Procedural Resolution X Using your voting paper: • Delete Box A • If voting “ for” procedural resolution, place a tick ( ) in Box 1 headed “For” • If voting “ against ” procedural resolution, place a tick ( ) in Box 2 headed “Against ” • If splitting vote, enter the appropriate number of shares in Boxes 1 and 2 • Write name, address and account number in Box 3 • Sign the voting paper in Box 4 and hand it to marshal at end of row • Please ask a marshal if you have any questions`

BT Group plc Annual General Meeting 19 July 2007 BT Group plc Annual General Meeting 19 July 2007