Orange announces the results of its tender offer on outstanding hybrid notes

NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA


Orange S.A. announces today the results of a tender offer launched on March 27, 2024 (the Tender Offer) to repurchase part of two Series of outstanding undated non-call deeply subordinated fixed to reset rate notes, as follows:

• In respect of its €1 billion Undated 6 Year Non-Call Deeply Subordinated Fixed to Reset Rate Notes with first reset date on 15 April 2025 and admitted to trading on Euronext Paris (ISIN FR0013413887) (the NC 2025 Existing Notes);
  
  a. the aggregate principal amount validly tendered is €647,400,000;
  b. the NC 2025 Existing Notes Series Acceptance Amount is €549,700,000;
  c. the NC 2025 Existing Notes Tender Price is 98.60%;
  d. the remaining outstanding principal amount of the NC 2025 Existing Notes following the settlement of the Tender Offer will be €450,300,000;
  
  
• In respect of its €1.25 billion Undated 12 Year Non-Call Deeply Subordinated Fixed to Reset Rate Notes with first reset date on 1^st October 2026 and admitted to trading on Euronext Paris (ISIN XS1115498260) (the NC 2026 Existing Notes),
  
  a. the aggregate principal amount validly tendered is €444,619,000;
  b. the NC 2026 Existing Notes Series Acceptance Amount is €150,000,000;
  c. the NC 2026 Existing Notes Tender Price is 418%;
  d. the remaining outstanding principal amount of the NC 2026 Existing Notes following the settlement of the Tender Offer will be €1,100,000,000.

The settlement of the Tender Offer is expected to occur the 10 April 2024.