Press Release | 17 May 2022

Exceptional compensation of Stéphane Richard

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In the context of Stéphane Richard's departure from the Orange group after twelve years as Chairman and Chief Executive Officer of the Group, the Board of Directors had chosen to propose to the Annual General Meeting of Shareholders on 19 May 2022 an exceptional gross compensation package of 475,000 euros for 2022, corresponding to approximately four months of his annual salary.

This decision was motivated by the overall level of Stéphane Richard's compensation package since 2010, by the desire to compensate for the absence of any retirement plan and to underline the constant commitment with which he accompanied the rigorous succession process. The Board also wanted to recognize the consistent financial results and strategic performance obtained throughout his three terms of office at the head of the Group.

Stephane Richard would like to thank the Board of Directors for this intention. However, given the incomprehension of certain shareholders who consider that this allocation does not comply with the guiding principles that apply when considering the compensation of corporate mandate holders and that this should have been planned for and anticipated, Stéphane Richard has decided to waive this exceptional compensation.

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Orange is one of the world’s leading telecommunications operators with revenues of 39.7 billion euros in 2023 and 128,000 employees worldwide at 30 September 2024, including 71,000 employees in France. The Group has a total customer base of 292 million customers worldwide at 30 September 2024, including 253 million mobile customers and 22 million fixed broadband customers. These figures have been restated to account for the deconsolidation of certain activities in Spain following the creation of MASORANGE. The Group is present in 26 countries (including non-consolidated countries).
Orange is also a leading provider of global IT and telecommunication services to multinational companies under the brand Orange Business. In February 2023, the Group presented its strategic plan 'Lead the Future', built on a new business model and guided by responsibility and efficiency. 'Lead the Future' capitalizes on network excellence to reinforce Orange's leadership in service quality.

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