AimThe current study determined the neurodevelopmental outcome of extremely preterm infants at 2 years of age.MethodsAll live‐born infants 23–27 weeks of gestation born between 2011 and 2020 in Austria were included in a prospective registry. Neurodevelopmental outcome at 2 years of corrected age was assessed using Bayley Scales of Infant Development for both motor and cognitive scores, along with a neurological examination and an assessment of neurosensory function.Results2378 out of 2905 (81.9%) live‐born infants survived to 2 years of corrected age. Follow‐up data were available for 1488 children (62.6%). Overall, 43.0% had no, 35.0% mild and 22.0% moderate‐to‐severe impairment. The percentage of children with moderate‐to‐severe neurodevelopmental impairment decreased with increasing gestational age and was 31.4%, 30.5%, 23.3%, 19.0% and 16.5% at 23, 24, 25, 26 and 27 weeks gestational age (p < 0.001). Results did not change over the 10‐year period. In multivariate analysis, neonatal complications as well as male sex were significantly associated with an increased risk of neurodevelopmental impairment.ConclusionIn this cohort study, a 22.0% rate of moderate‐to‐severe neurodevelopmental impairment was observed among children born extremely preterm. This national data is important for both counselling parents and guiding the allocation of health resources.