Dividends

The Company offers a Dividend Reinvestment Plan (DRIP), which allows holders of ordinary shares who choose to participate to use their cash dividends to acquire additional shares in the Company that are purchased on their behalf by the Plan Administrator through a low cost dealing arrangement. DRIP is available to all shareholders provided that they do not live in, or are subject to, the jurisdiction of any country where their participation in the plan would require Vodafone or the plan administrator to take action to comply with local government or regulatory procedures or any similar formalities.

In accordance with the terms and conditions of the DRIP, purchases of shares may be carried out by several market transactions and may take a number of days, the consideration price taken as an average over the day(s). Note, under our revised dividend policy whereby we declare dividends in Euros, any shareholder making a partial DRIP election will receive their cash element in GBP, even if the holder is EU based or otherwise makes an election for Euros. Additionally, partial DRIP elections can only be made by institutional shareholders.

The DRIP is operated on a mandated basis and your election to participate will apply to all future dividends until you cancel or otherwise terminate your mandate or sell/transfer your shares.

Please contact Equiniti for further details

Apply for the DRIP

You can apply to join the DRIP online via your Shareview Portfolio at www.shareview.co.uk. Follow the link from “My Investments” to view your holdings summary, access the Dividend Election page for your holding and follow the instructions on-screen to complete the application.

Visit our FAQs page for information on how to register for a Shareview Portfolio.

Shareholders wishing to join the DRIP should ensure that their completed instruction is received by the plan administrator no later than 15 working days before the dividend payment date, otherwise it will only apply from the next dividend that the DRIP is applied to.

Visit www.shareview.co.uk/info/drip to download the DRIP terms and conditions and the DRIP application form.

With effect from February 2010, Vodafone pays cash dividends by direct credit only. In order to receive your dividends directly into your bank account on dividend payment date, you will need to have provided your bank details.

Paying dividends into a bank or building society account is a quicker and more secure way for your dividends to be paid directly to you.

In instances where you have not provided valid bank accounts details, your distributions due on these shares will be retained and you may be charged a fee for the dividend payment to be released unless you have instructed for your dividend to be reinvested into the DRIP.

Visit our FAQs page for more information on how to receive your dividends as cash.