1.  GROUP AND COMPANY PROFILE

1.1  Business model

Group structure

Founded in 1998 and based in Montabaur, Germany, United Internet AG (“United Internet”) is the parent company of the United Internet Group.

Together with its service company United Internet Corporate Services GmbH, United Internet AG focuses mainly on centralized functions in the areas of Finance, Corporate Controlling & Accounting, Tax, Investment Management, Press Relations, Investor Relations, Legal, Corporate Governance, Compliance & Sustainability, Risk Management, Corporate Audit, HR Management, Facility Management, Procurement, and Corporate IT.

Compared to the previous year, the Group structure as of December 31, 2025 is largely unchanged from the previous year. The most significant change resulted from the intra-group sale of United Internet Management Holding SE, including its subsidiary 1&1 Versatel GmbH, to 1&1 AG, with economic effect as of November 30, 2025.

Operating activities in the Consumer Access segment are mainly managed by the companies Drillisch Online GmbH and 1&1 Telecom GmbH under the umbrella of 1&1 AG.

In its Business Access segment, United Internet mainly operates via 1&1 Versatel GmbH, which is now also held by 1&1 AG via the holding companies Blitz 17-665 SE and United Internet Management Holding SE.

Operating activities in the Consumer Applications segment are primarily managed via the companies 1&1 Mail & Media GmbH, 1&1 Mail & Media Inc., and United Internet Media GmbH , pooled together under 1&1 Mail & Media Applications SE.

In its Business Applications segment , United Internet is primarily active via its shares in STRATO GmbH and its subsidiary Cronon GmbH – held by the holding companies IONOS Group SE and IONOS Holding SE – as well as in IONOS SE and its main domestic and foreign subsidiaries. In addition to the foreign subsidiaries IONOS Inc. (USA), IONOS Cloud Ltd. (UK), IONOS S.A.R.L. (France), and IONOS Cloud S.L.U. (Spain), these mainly comprise Arsys Internet S.L.U. (Spain), Fasthosts Internet Ltd. (UK), home.pl Sp. z o.o. (Poland), the German companies InterNetX GmbH, united-domains GmbH, we22 GmbH, and World4You Internet Services GmbH (Austria), as well as the discontinued operation Sedo GmbH.

In addition to these operating and fully consolidated subsidiaries, United Internet held a number of other investments as of December 31, 2025. These mainly consist of equity interests – held by United Internet Investments Holding AG & Co. KG – in Kublai GmbH, Frankfurt am Main (4.71%), which in turn holds 97.67% of shares in Tele Columbus AG, Berlin, and investments in the strategic partners Open-Xchange AG, Cologne (25.39%), rankingCoach GmbH, Cologne (31.52%), uberall GmbH, Berlin (25.10%), and AWIN AG, Berlin (20.00%), as well as the investment in Stackable GmbH, Pinneberg (27.54%) held by IONOS SE .

Further details on these investments and changes in investments are provided in chapter 2.2 “Business development” under “Group investments”.

A simplified illustration of the Group structure of United Internet with its significant operating subsidiaries and investments – as of December 31, 2025 – is shown in the following chart.

(1) Offered for sale and not disclosed as continued operation

Business operations

With over 29 million fee-based customer contracts and around 39 million ad-financed free accounts, United Internet is one of Europe’s leading internet specialists.

The Group’s operating business is divided into the business divisions “Access” and “Applications”, which in turn are divided into the segments “Consumer Access” and “Business Access”, as well as “Consumer Applications” and “Business Applications”.

Consumer Access segment

The Consumer Access segment comprises landline-based broadband products (including the respective applications, such as home networks, online storage, Smart Home, IPTV, and video-on-demand), as well as mobile internet products for private users.

These internet access products are offered to customers as subscription contracts with fixed monthly fees (and variable, volume-based charges).

With its broadband products under the 1&1 brand (especially VDSL/vectoring and fiber-optic connections), United Internet is one of Germany’s leading suppliers.

The Company uses 1&1 Versatel’s fiber-optic network as the transport network for VDSL/vectoring connections and direct fiber-optic connections (FTTH) with the “last mile” being provided by city carriers and Deutsche Telekom (mainly Layer-2) .

United Internet is also one of the leading providers of mobile internet products in Germany .

1&1 operates a powerful mobile communications network, which is used by over 12 million customers. In December 2025, just two years after the launch of mobile services, the 1&1 mobile network reaches 27% of all German households. It is being continuously expanded. Wherever 1&1 does not yet have sufficient mobile coverage during the years of network expansion, it uses national roaming. A national roaming partnership with Vodafone started in late August 2024. National roaming via Vodafone has been used by all 1&1 mobile customers since late 2025. National roaming services were previously procured from Telefónica.

Mobile internet products are marketed via the premium brand 1&1 as well as via discount brands, such as winSIM and yourfone, which enable the Company to target a wide range of specific user groups in the mobile communications market.

Business Access segment

In the Business Access segment, 1&1 Versatel offers a wide range of telecommunication products and solutions for business customers .

The core of the business model is a fiber-optic network with a length of over 68,000 km, which is one of the largest networks in Germany a nd is constantly being expanded.

1&1 Versatel uses this network to offer telecommunication products – from standardized fiber-optic direct connections to tailored ICT solutions (voice, data, and network solutions) – to companies and local authorities. In addition, the 1&1 fiber-optic network is used to provide 1&1 DSL and FTTH connections and to connect antenna locations. Infrastructure services (wholesale) for national and international carriers are also provided.

Consumer Applications segment

Applications for home users are pooled in the Consumer Applications segment. These mainly comprise Personal Information Management applications (e-mail, to-do lists, appointments, addresses), online storage (cloud) , and office software.

By steadily developing this portfolio over the past years, the GMX and WEB.DE brands – the most widely used e-mail providers for German consumers for many years now – have been expanded into complete command centers for communication, information, and identity management into which an increasing number of AI applications are being integrated.

Applications for home users are nearly all developed in-house and operated at the Group’s own data centers. Products are offered as fee-based subscriptions (pay accounts) or – for free – in the form of ad-financed free accounts. The latter are monetized via online advertising, which is marketed by United Internet Media.

With its ad-financed applications and fee-based consumer applications, United Internet is primarily active via GMX and WEB.DE in Germany, Austria, and Switzerland, where it is among the leading players. International expansion in this segment is being driven via the mail.com brand. In addition to the USA, mail.com targets countries such as the UK, France, and Spain.

Business Applications segment

In the Business Applications segment, IONOS opens up online business opportunities for freelancers and SMEs, while also helping them to digitize their processes. It offers a comprehensive range of powerful applications, such as domains, websites, web hosting, servers, e-shops, group work, online storage (cloud), and office software, which can be used via subscription agreements. In addition, cloud solutions and cloud infrastructure are offered.

These business applications are developed at in-house development centers or in cooperation with partner firm s and operated on around 95,000 servers.

With activities in various European countries (Germany, France, the UK, Spain, Italy, the Netherlands, Austria, Poland, Hungary, Romania, Bulgaria, Czech Republic, Slovakia, and Sweden) as well as in North America (the USA, Canada, Mexico), IONOS is also a leading global player in this segment.

Business applications are marketed to specific target groups via the brands IONOS, Arsys, Fasthosts, home.pl, InterNetX, STRATO, united-domains, and World4You. In addition, we22 offers other hosting suppliers a white-label website builder for the creation of high-quality websites.

Divisions, segments, and main brands (as of: December 31, 2025)

Management

The Management Board of United Internet AG comprised the following members in the fiscal year 2025:

Management Board members as at December 31, 2025

• Ralph Dommermuth, founder and Chief Executive Officer
  ( with the Company since 1988)


• Carsten Theurer, Chief Financial Officer (CFO)
  (with the Company since January 1, 2025)


• Markus Huhn, Management Board member responsible for Shared Services
  (with the United Internet Group since 1994; until December 31, 2025)

Markus Huhn, Management Board member of United Internet AG responsible for Shared Services, stepped down from his position as a member of the Management Board of United Internet AG at his own request as of December 31, 2025. Chief Financial Officer Carsten Theurer has additionally assumed the former responsibilities of Mr. Huhn since the end of the fiscal year 2025.

The Supervisory Board of United Internet AG comprised the following members in the fiscal year 2025:

Supervisory Board members as at December 31, 2025

• Philipp von Bismarck, Chairman
  (member since July 2020; Chairman since May 2021; member of the Audit and Risk Committee since May 2021)


• Dr. Manuel Cubero del Castillo-Olivares, Deputy Chairman
  (member since May 2020; Deputy Chairman since May 2021)


• Stefan Rasch
  (member since May 2021; member of the Audit and Risk Committee since May 2021)


• Prof. Dr. Franca Ruhwedel
  (member since May 2023; Chairwoman of the Audit and Risk Committee since January 2024)


• Christian Unger
  (member since May 2025; member of the Audit and Risk Committee since May 2025)


• Prof. Dr. Yasmin Mei-Yee Weiß
  (member since July 2020)

Main markets and competitive standing

Germany is the most important sales market of the United Internet Group by far and accounted for around 90% of total global sales in the fiscal year 2025.

Besides Germany, the Group’s most important sales markets are

• the USA,
• the UK,
• Spain,
• France,
• Poland, and
• Austria.

Competitive standingin the Consumer Access segment

Following the merger with Drillisch AG (now 1&1 AG) in 2017, United Internet is the fourth force in Germany’s telecommunications market with landline and mobile products in its purely domestic Consumer Access segment – based on customer contracts and sales revenues – after Deutsche Telekom, Vodafone, and Telefónica Germany.

Competitive standingin the Business Access segment

United Internet is also a leading company in its Business Access segment, whose operations are also limited to Germany. With the fiber-optic network of 1&1 Versatel spanning over 68,000 km, United Internet operates one of Germany’s largest fiber-optic networks.

Competitive standingin the Consumer Applications segment

In its Consumer Applications segment, United Internet operates in Germany, Switzerland, and Austria via the GMX and WEB.DE brands, as well as in countries such as the USA, UK, France, and Spain via the international brand mail.com. United Internet is the leading provider of e-mail services and one of the leaders in cloud services in its domestic German market – based on the number of users.

Competitive standingin the Business Applications segment

In the globally aligned Business Applications segment, United Internet is active in a total of 17 countries with its hosting and cloud applications. The Company has long been the market leader in the German hosting business – based on the number of managed country domains – and strengthened its position in 2017 with the takeover of its competitor STRATO. In other European countries, United Internet’s hosting applications are now available in all major markets – either locally or from Germany. In addition to the domestic German market, these mainly include the major European economies of France, the UK, Italy, Poland, and Spain. With the exception of Italy, the Company is one of the leading suppliers – measured by the number of managed country domains – in the aforementioned countries. All in all, therefore, United Internet is also one of Europe’s leading hosting providers – based on the number of managed country domains. Further target markets outside Europe are the North American countries Canada, USA, and Mexico. In the most important of these markets, the USA, United Internet is also one of the leading players in this segment – based on the number of managed country domains.

From a global perspective, United Internet is thus also one of the leading companies in the hosting business.

Main locations

In its continued operations, the United Internet Group employed a total of 10,547 people worldwide at around 40 domestic and foreign facilities as of December 31, 2025.

Main locations (by headcount; > 50 employees)