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Orange Belgium S.A.

Investor Presentation Mar 29, 2019

3986_rns_2019-03-29_291f0bae-2705-41b5-a41b-778d7d07cb2b.pdf

Investor Presentation

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N
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A
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d
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p
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:
L
B
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i
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o
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g
e
r
a
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F
h
r
e
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c
5
7
é
D
i
E
i
f
h
"E
l
S
i
d
C
t
e
g
r
e
e
n
c
o
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o
m
c
s
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p
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m
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'A
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d
E
d
H
"
t
t
t
t
e
m
n
s
r
a
o
n
e
s
n
r
e
p
r
s
e
s
u
a
v
r
e
Pr
fe
io
l e
ie
o
ss
na
x
p
er
nc
e:
- S
he
d
Cr
é
d
i
du
No
d
he
he
d
ire
ly
i
b
le
fo
ba
k
ing
iv
i
ies
(
is
k m
f
ina
ia
l e
ine
ing
ion
ta
te
t a
t
t
t
t
t
t,
t
s
r
ou
r
w
re
s
w
as
c
re
sp
on
s
r
n
a
c
r
an
ag
em
en
nc
ng
er
o
p
er
a
s,
).
ba
k
ing
fo
he
ke
ia
l p
l
icy
tra
te
t
te
t,
n
s
g
y
r
c
or
p
or
a
m
ar
co
m
m
er
c
o
- S
he
d
he
l
d
f
Hu
Re
in
1
9
9
8
he
he
be
he
d
f
he
in
ing
fu
ion
te
t
t
tra
t
e
n
re
w
or
o
m
an
so
ur
ce
s
w
n
s
ca
m
e
a
o
nc
- In
2
0
0
4,
he
be
H
R
D
ire
fo
he
Bu
ine
Re
la
ion
D
iv
is
ion
he
D
ire
f
Em
loy
Re
la
ion
fo
he
Cr
é
d
i
du
No
d
G
i
ion
to
t
t
t
to
t
t
t
t
s
ca
m
e
c
r
r
s
ss
s
n
c
r o
p
ee
s
r
r
ro
up
a
p
os
,
,
Ca
C
G
he
lso
la
he
l
d
iss
d
'E
I
le-
de
-F
he
fo
he
B
P
E
te
t
t
t
s
a
r
a
e
p
ar
g
ne
ra
nc
e
n
r
ro
up
- In
Au
2
0
1
6,
he
j
ine
d
O
D
ire
f
Em
loy
Re
la
ion
t
to
t
g
us
s
o
ra
ng
e
as
c
r o
p
ee
s.
- E
f
fe
ive
2
Ma
2
0
1
8,
he
ha
ke
he
le
f
G
H
R
D
ire
t
ta
t
to
c
y
s
s
n o
n
ro
o
ro
up
c
r.
/ m
Po
i
t
io
da
te
he
l
d:
s
ns
an
s
-
-
O
Ba
k
S
A
ra
ng
e
n
O
Be
lg
ium
S
A
ra
ng
e
M
be
f
he
Bo
d
t
em
r
o
ar
M
be
f
he
Bo
d
t
em
r
o
ar
G
ov
er
na
nc
e:
Pr
d
te
op
os
e
rm
o
f
t
he
da
te
m
an
:
2
y
ea
rs
Po
i
iv
t
s
e
re
co
m
m
da
io
in
io
i
t
t
t
te
en
n
no
m
a
n
co
m
m
e:
y
es
Po
i
iv
t
s
e
re
co
m
m
da
io
bo
d
f
d
ire
t
to
en
n
ar
o
c
rs
:
y
es
/ r
Pr
d
by
op
os
e
ep
f a
S
iv
ha
ho
l
de
O
R
A
N
G
E
A
ta
t
re
se
n
e
o
s
re
r:
es
y
In
de
de
d
ire
t
p
en
n
to
c
r
no

[Satisfaction independence criteria of article 526ter of the Companies Code] NA

N
a
m
e
:
F
E
R
N
A
N
D
E
Z
R
A
M
O
N
N
t
i
l
i
t
a
o
n
a
y
:
F
h
r
e
n
c
A
g
e
:
5
1
S
t
d
i
/
d
i
l
u
e
s
p
o

I
i
d
t
t
t
t
m
a
:
n
s
u
É
l
N
i
t
c
o
e
a
o
d
P
l
i
i
P
i
(
1
9
8
8
)
t
u
e
s
o
q
u
e
s
a
r
s
(
)
l
d
'A
d
i
i
i
1
9
9
3
t
t
n
a
e
m
n
s
r
a
o
n
Pr
fe
io
l e
ie
o
ss
na
p
er
nc
e:
x
Ra
Fe
de
i
h
he
In
ion
l
Mo
Fu
d
in
W
h
ing
(
)
be
fo
ing
ho
he
Fr
h
Tr
t
tw
t
t
te
t
ta
to
1
9
9
7-
1
9
9
9
tu
to
t
m
on
rn
an
z s
p
en
o
ea
rs
rn
a
a
ne
ry
n
as
n
re
re
rn
m
e
en
c
ea
su
ry
y
w
-
,
he
he
ha
d
br
ie
f
ly
ke
d
f
he
du
d.
te
te
w
re
wo
r
a
r
g
ra
a
He
A
dv
iso
w
as
-
he
M
in
is
f
Ec
F
ina
d
In
du
(
2
0
0
2-
2
0
0
3
)
d
he
Pr
i
de
f
he
Fr
h
Re
b
l
ic
(
2
0
0
2
0
0
8
).
to
t
te
try
to
t
t o
t
7-
r
r o
on
om
y,
nc
e
an
s
an
es
n
en
c
p
u
In
he
2
0
0
8,
w
-
in
d
C
h
ie
f o
f
S
f
f
he
M
in
is
f
La
bo
So
ia
l
Re
la
ion
Fa
i
ly
d
So
l
i
da
i
(
).
te
ta
to
t
te
t
ty
2
0
0
8-
2
0
0
9
as
a
p
p
o
r o
ur
c
s,
m
an
r
,
O
Se
1
te
n
p
m
-
D
ire
Ge
to
c
r
ne
O
C
O
G
C
f
S
O
f
f
fro
fo
be
2
0
1
4,
Ra
Fe
de
j
ine
d
De
E
d
h
ie
F
ina
ia
l a
d
ice
h
is
i
ion
ty
tra
te
t
r
m
on
rn
an
o
ra
ng
e
as
p
an
ro
up
nc
n
g
r,
m
rm
er
p
os
a
s
z
u
y
l o
f
he
Fr
h
Tr
h
ic
h
he
ha
d
he
l
d
inc
2
0
0
9.
t
ra
en
c
ea
su
ry
w
s
e
,
S
inc
Ma
2
2
0
e
y
-
he
is
De
C
E
O
F
ina
Pe
fo
d
Eu
1
8,
ty
p
nc
e,
r
rm
an
ce
a
n
ro
p
e.
u
Po
i
t
io
/ m
s
ns
an
O
S
Ba
k
ra
ng
e
n
-
O
Be
lg
ium
ra
ng
e
-
O
M
i
d
d
le
ra
ng
e
-
O
Po
ls
ka
ra
ng
e
-
Bu
In
y
-
Ca
Ir
is
i
l
Ma
ta
p
-
Eu
N
V
t
ro
ne
x
-
da
te
he
l
d:
s
A
S
A
Ea
d
A
fr
ica
S
A
t a
s
n
S
A
S
S
A
t
na
g
em
en
C
ha
irm
f
he
Bo
d
t
an
o
ar
M
be
f
he
Bo
d
t
em
r o
ar
M
be
f
he
Bo
d
t
em
r o
ar
f
Su
M
be
he
iso
Bo
d
t
em
r o
p
er
ry
ar
v
M
be
f
he
Su
iso
Bo
d
t
em
r o
p
er
v
ry
ar
Su
M
be
f
he
iso
Bo
d
t
em
r o
p
er
v
ry
ar
M
be
f
he
Su
iso
Bo
d
t
em
r o
p
er
v
ry
ar
G
ov
er
na
nc
e:
f
Pr
d
te
t
he
da
te
2
os
e
rm
o
m
an
ea
op : rs
y

Positive recommendation nomination committee: yes Positive recommendation board of directors: yes Proposed by / representative of a shareholder: ORANGE SA yes Independent director no[Satisfaction independence criteria of article 526ter of the Companies Code] NA

N
a
m
e
:
S
V
I
G
N
O
L
L
E
J
M
e
a
n-
a
r
c
N
t
i
l
i
t
a
o
n
a
y
:
F
h
r
e
n
c
A
g
e
:
6
5
a
n
s
S
/
t
d
i
d
i
l
e
s
p
o
m
a
u
:
S
/
i
/
é
i
i
E
N
U
L
M
I
E
P
P
A
d
'A
l
t
a
r
s
g
r
g
a
o
n
n
g
a
s
Pr
fe
io
l e
ie
o
ss
na
p
er
nc
e:
x
da
2
0
1
8
to
te
-
2
0
1
6 –
2
0
1
8
-
2
0
0
7 –
2
0
1
5
-
2
0
0
4 –
2
0
0
7
-
2
0
0
1 –
2
0
0
4
-
2
0
0
0 –
2
0
0
1
-
1
9
9
4 –
2
0
0
0
-
Po
i
t
io
/ m
da
te
he
l
d:
s
ns
an
s
O
Po
ls
ka
S
A
ra
ng
e
-
O
S
Be
lg
ium
A
ra
ng
e
-
O
S
lov
ko
ra
ng
e
en
s
-
O
Ro
ia
ra
ng
e
m
an
-
O
Mo
l
do
ra
ng
e
va
-
M
be
f
he
Su
iso
Bo
d
t
em
r
o
p
er
v
ry
ar
f
M
be
he
Bo
d
t
em
r
o
ar
M
be
f
he
Su
iso
Bo
d
t
em
r
o
p
er
v
ry
ar
M
be
f
he
Bo
d
t
em
r
o
ar
M
be
f
he
Bo
d
t
em
r
o
ar
G
ov
er
na
nc
e:
Pr
d
f
he
da
te
t
te
op
os
e
rm
o
m
an
:
2
y
ea
rs
Po
i
iv
t
s
e
re
co
m
m

Po
i
iv
t
s
e
re
co
m
m
da
io
in
io
i
t
t
t
te
en
n
no
m
a
n
co
m
m
e:
da
io
bo
d
f
d
ire
t
to
en
n
ar
o
c
rs
:
es
y
y
Pr
d
by
/ r
op
os
e
ep
iv
f a
ha
ho
l
de
O
R
A
N
G
E
S
A
ta
t
re
se
n
e
o
s
re
r:
es
y
es
In
de
de
d
ire
t
p
en
n
to
c
r
no
Sa
is
fa
io
in
[
t
t
de
c
n
i
ia
f a
ic
f
Co
ies
Co
de
te
t
le
5
2
6
te
t
he
de
]
p
en
nc
e
cr
r
o
r
r o
m
p
an
N
A

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