4 September 2017

1
Agenda

1. Orange.one 4. Financial & efficiency

2. Consumer market ambitions
5. Conclusion
3. Business market
6. Q&A

2
 Orange.one
Jean-Franois Fallacher
Chief Executive Officer

3
 2020 vision
#1 Very High-Speed Broadband
#1 Customer experience
#1 Digital
#1 Value creation
4
Five in one

Orange New E-home E-home Enterprise

Orange New Enterprise

Orange New Customer Experience
Orange New Network Excellence

Experience
Customer
Orange New Efficiency

Efficiency
.one
Network
Excellence

5
All for one, one for all

One team E-home Enterprise

One mind
One goal

Number one integrated

Experience
Customer
Efficiency
telecom operator:
Consumers
.one
Businesses Network
Excellence
Shareholders
6
Focus on value through business cycle

Revenue trend 2017-2020 Action

Legacy services
Fixed voice
Fixed wholesale Optimise costs and maximise cash out

Growth services

Mobile
Broadband Increasing growth rate and improving profitability
TV

Adjacent and new areas

ICT
Energy
Finance OPL as challenger explore new opportunities
Devices
Smart Care

7
Transformation on track and bearing first fruits

legacy in % in k 1,953
1,471

716
80%

growth
4G 800MHz Fibre households
Revenue split
coverage connectable

in k 2,323
in k in k 9,573
1,084 9,262
835 2,206
2,144
574 8,322

Convergent Mobile post-paid Fixed broadband

8 customers customers customers
Focus on execution by leveraging on our value creation assets in
order to accelerate

Customers Committed Powerful brand Convergent

focus employees network

9
 Consumer
market
Mariusz Gaca
VP in charge of consumer market

10
Convergence has a big potential

4.7

2.4
over 90% ~ 50%
Households Average OPL
Households with
equipped with RGU per RGU
services from
OPL services household
various operators
(contract & prepaid)

11
 There are battlefields with different competitive environment

OPL
market share Big cities Small cities Rural
(1H2017) 4.6m households 4.3m households 4.2m households
34% 30% 27%

16% 29% 47%

~70% convergence share in FBB by 2020

12
Network coverage and capacity are essential to the best customer
experience

ambition
>5m

87% LTE indoor coverage by 2020

2m

Spectrum aggregation, network

densification

Household
Core network and fibre network 5G
covered by fibre
(~40% of all HH in Poland in 2020)
5G ready

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Our content value proposition is now back to the game

6% 10%
in 2016 in 2020
TV and VoD available on Orange is a gateway to all OPL share in TV
all screens possible content market

14
Commercial effort is focused on households

B2C convergent
+1M-1.5M customer base
(vs 858k @1H2017)

B2C fibre
x5-6 customer base
(vs 140k @1H2017)
Ambitions by 2020

+0.3M-0.6M TV customer base

(vs 792k @1H2017)

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but we remain highly committed to mobile only customers

High-speed
#1 network

#1 Offers best fitting

customer needs

Best
Ambitions by 2020
place Portfolio
to buy

16
Digital shift in customer relations will boost efficiency

25%
sales online by
2020 vs 8% in
2016

17
Process and portfolio simplification will drive NPS

Simplicity Consistency Focus

The most recommended operator by 2020

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Adjacent areas are important for customer loyalty and revenue
growth

Orange Finance Orange Energy Devices Orange Smart Care

>PLN 300M revenue in 2020

(x20 growth vs 2016)
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 Business
market
Boena Leniewska
VP in charge of business market

20
Digital transformation of business customers

# of OPL B2B
customers
(1H2017)
~4k of companies cloud computing
Key
Accounts 50% to be soon
digitally
75% market growth by
2020***
~15k transformed*
Corpo

~141k
Small & of companies to
data traffic to
Medium
50% increase spending
on cybersecurity**
6x increase by
2020****
~0.8m
SOHO
Companies seek for trusted business
partner in this sweeping transformation
* IDC forecast of the Polish Cloud Market
21 ** http://www.cyberdefence24.pl/292079,raport-znaczny-wzrost-cyberatakow-wykrytych-w-polsce
*** http://it-filolog.pl/idc-cyfrowa-transformacja-roznych-predkosci-polska-lepiej-ale-daleko-za-liderami/
**** http://www.cisco.com/c/pl_pl/about/press/press-information-2016/20160617.htm
Trusted partner of choice in digital transformation for business
customers

2020

1H2017 Digital solutions

Convergence & Convergence &

integration integration

Connectivity Connectivity Connectivity

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Connectivity ambitions by 2020

#1 Network (coverage and speed)

companies within FTTH range

>40% (vs 12% 1H2017)

Virtualized & programmable networks

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Convergence & mobile ambitions by 2020

convergent customers in SOHO/SME

55% (vs 24% 1H2017)

mobile handset postpaid base

+0.6M increase
(vs 2.4m 1H2017)

Value & focus

quality
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Integration & digital solutions ambitions by 2020

x2 ICT revenues
vs 2016 by 2020

B4B Consultative selling

Leader in
First projects in 2018
Internet of Things

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Transformation leading to success

Automation Digital Top-class and

and process workplace agile team
simplification and internal
robotisation

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The most recommended operator & partner by 2020

NPS #1
unmatched customer experience
simplification of Customer Journey in B2B

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 Financial &
efficiency
ambitions
Maciej Nowohoski
Chief Financial Officer

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Revenues to stabilise in 2019 and grow from 2020

2016 share in Expected 2016-2020 2020 share in

revenue CAGR revenue

Growth
Low single digit growth
services

Legacy Low double digit decline

services

Adjacent
and new Very high growth
areas

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Adjusted EBITDA to stabilise in 2018 and grow from 2019

Adjusted EBITDA expected evolution

Direct margin to be supported mainly by:

Better revenue trend
Handset subsidies optimisation
More balanced volume vs value approach to
customer acquisition
Shift to digital distribution channel mix
Optimization of the sales support
Indirect costs to be optimised thoroughly
and consequently through simplification
12-15% reduction of underlying indirect costs
expected in 2020 vs 2016
2016 legacy growth and indirect 2020
services adjacent costs
direct margin services
direct margin
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Comprehensive transformation plan for OPL key processes
OPL Business
model

Licenses & Products & Sales & Customer

Network
regulations services distribution Service

Modernised network Superior online

Less offers & simpler Superior customer
Transformation actions management & channel
offers experience
delivery Modernized shops

Focused advertising Fewer shops, better Fewer customer care

Simplicity gains Modern, simpler IT
Fewer customer claims locations interactions

Less manual work for Simpler delivery chain Robotics to replace

Automation gains Faster delivery process
offer implementation Less manual back-office manual work

Great cross-channel
Remote diagnostics of Easier digital sales, experience
Digital gains More self-care
network retention & care Real-time web
31 assistance
Process transformation examples of on-going implementations

Example 1 Example 2
Transformation of service delivery & Integrated platform for sales and care
trouble ticketing system for fibre across all channels
Features: Features:
One data repository One interface for all core products including
Automated provisioning convergence
Allows to manage technical partners Strong improvement of online channel
Remote diagnostics Omnichannel, allowing seamless process across
all channels
Automated back office process

Benefits: Benefits:
Almost full automation (95%) 2x faster sales process
4x less costs One front and tool (instead many today)
Payback around 3 years Payback starting from 2020
First benefits already in 2018 First benefits in 2018
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Vast indirect cost optimisation programme
OPEX for latest 12 months
(through June 2017)

41% Labour
Ambition to continue headcount
optimization

14% Outsourcing
8% Other
Process, CRM, telesales optimization
Streamlining of communication
platforms and optimisation of
advertising

6% Network maintenance
20% Taxes & properties
Progressive move towards IP
Optimization of real estate portfolio

5% Energy 6% G&A
Smart Energy consumption Simplification of back office and
33 management internal support function
Employment: right skills and right efficiency

Proved ability to optimize employment

Towards Digital Employer 29% down since 2012
(Full time equivalents at end of period in k)

The right skills Responsible employment policy

for tomorrow Digital employer of choice

Develop agile Collective work

ways of working Motivating workplace

Encourage Values each employees voice

employee Recognizes each individuals
engagement contribution

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 Capex to be driven by fibre investment

Scale of fibre capex conditional on

2.0- 2.2 commercial success and financing
2.0- 2.2*
bn PLN ~2.0 ~2.0* capabilities
POPC to be realised along with fibre
Other project
(incl. transformation)
Mobile network capex reflects further
expansion and maintenance
Mobile network
Fibre (POPC) Business transformation capex
included in the range provided
Fibre (ex-POPC) All other areas of capex to be
optimised

* ambitions

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Return to growth backed by more focus on value creation

2018 2019 2020

Growth areas to increasingly offset stabilisation growth

Revenue pressure on legacy

To be supported by better revenue trend,

Adjusted operating leverage and continued cost stabilisation growth growth
EBITDA optimisation

Reflects connectivity programme and

CAPEX business transformation needs
PLN2.0-2.2bn PLN2.0-2.2bn* PLN~2.0bn*

Net debt Decreasing from 2019

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* ambitions
 Conclusion
Jean-Franois Fallacher
Chief Executive Officer

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 By 2020 we will be:

Loved by customers
Preferred by employees
Valued by shareholders

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 Q&A

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Forward looking statement

This presentation contains 'forward-looking statements' including, but not limited to, statements regarding
anticipated future events and financial performance with respect to our operations. Forward-looking
statements can be identified by the fact that they do not relate strictly to historical or current facts. They
often include words like 'believe', 'expect', 'anticipate', 'estimated', 'project', 'plan', 'pro forma', and
'intend' or future or conditional verbs such as 'will', 'would', or 'may. Factors that could cause actual
results to differ materially from expected results include, but are not limited to, those set forth in our
Registration Statement, as filed with the Polish securities and exchange commission, the competitive
environment in which we operate, changes in general economic conditions and changes in the Polish,
American and/or global financial and/or capital markets. Forward-looking statements represent
managements views as of the date they are made, and we assume no obligation to update any forward-
looking statements for actual events occurring after that date. You are cautioned not to place undue
reliance on our forward-looking statements.

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