Orange Belgium S.A.

M&A Activity • Nov 16, 2023

Orange Belgium in talks with Nethys on VOO stake conversion

UPDATE

Following the acquisition of VOO by Orange Belgium, Nethys retained 25% + one share in VOO. As part of this transaction, Nethys has the option of converting its stake in VOO into Orange Belgium shares, while retaining the governance rights associated with its stake in VOO once it has acquired a stake in Orange Belgium. Following a press article published today, Orange Belgium confirms that discussions with Nethys are ongoing with a view to implementing this operation. By contributing its stake in VOO, Nethys would obtain a stake in Orange Belgium of around 11%.

If applicable, this operation will fall within the scope of the procedure provided for in article 7:97 of the Companies and Associations Code, and will therefore be analyzed by a committee of independent Orange Belgium directors, with the support of an independent expert, who will submit an opinion to the Board of Directors. This operation will then have to be approved by the General Assembly of Orange Belgium.

About Orange Belgium

Orange Belgium is one of the major telecommunication operators on the Belgian market, with revenues of 1,391 million euros in 2022 and over 3 million customers on 31 December 2022, and in Luxembourg, via its subsidiary Orange Communications Luxembourg. As a convergent player, it provides next generation connectivity services to residential and business customers through multi-gigabits mobile, cable and optic fiber networks, also relating to the Internet of Things (IoT). Its high-performance mobile network is equipped with the latest technologies and benefits from continuous investments. As a responsible operator, Orange Belgium is also investing to reduce its ecological footprint and promote sustainable and inclusive digital practices.

In June 2023 Orange Belgium completed the acquisition of a 75% stake minus 1 share in telco operator VOO SA. This acquisition represents a major step forward in Orange Belgium's national convergent strategy and will increase investment and competition in the telecommunications sector for the benefit of customers and the competitiveness of the Walloon and Brussels regions.

Orange Belgium is a subsidiary of the Orange Group, present in 26 countries with a total customer base of 287 million customers worldwide on 31 December 2022. The Group is also a leading provider of global IT and telecommunication services to multinational companies under the brand Orange Business.

Orange Belgium is listed on the Brussels Stock Exchange (OBEL).

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Press contact Sven Adams – sven.adams@orange.com +32 (0)486 36 47 22 Koen Van Mol – koen.vanmol@orange.com +32 (0)495 55 14 99 press@orange.be