Proximus Group Results presentation 26 February 2021 An extraordinary 2020, with pandemic unveiling 2 more than ever the important societal role we play.

Keeping our employees and customers connected, boosting digital adoption and opening up opportunities

Network 21% of 10,000 traffic digital sales Homeworking Mobile call +50% duration during employees lockdowns +30% + 30% Increasing connectivity Audio/Video- need driving growth in meetings at Belgian Internet market -105 KTon CO2 emissions +25% (Proximus scope 1,2,3) + 178% Peak usage

2016 2017 2018 2019 2020 Solidarity in 2020 3

Keeping people Supporting the Trusted digital & businesses healthcare sector connected partner for public and acting for digital authorities, cities and inclusion business

Technical & financial support for 18,500 donated Wi-Fi Digital training for 10,400 Covid-19 Track & Trace call center codes people (students, teachers, seniors) Offered solutions to operate safely: Free calls to IoT sensors, cameras, Wi-Fi, connectivity and Realtime Crowd donated laptops to + 10Gb mobile data 1,500 Management tools DigitalForYouth.be To healthcare workers Connectivity to vaccination centers, and IoT sensors to monitor the Unlimited Internet at home temperature of vaccines 1,200 tablets & Urgent repair interventions to retirement homes Member of the Data & Technology & hospitals national taskforce against Corona We have been taking concrete and meaningful steps 4 forward in our #inspire2022 strategy

Some examples…

Signed Fiber partnerships Welcoming Mobile Vikings to go broader and faster to the Proximus group

Nokia & Ericsson selected for Proximus signs a strategic Mobile RAN / Core partnership with Belfius. Build the best Operate like a GIGABIT “DIGITAL native” NETWORK company Only Belgian public 5G network, for Proximus acquires full activation of the 3.6-3.8 GHz band ownership of BICS

Revamped mobile offer Mwingz operational and launched Flex GROW PROFITABLY Act for through partners SUSTAINABILITY & ecosystems & digital inclusion Proximus and Signpost Signed wholesale contracts to support schools in taking optimize filling of our networks a digital leap We aim for a net positive contribution to 5 a net zero planet by 2030

4th time … and are recognized for it : in a row Surpassing 2025 6 We strongly reduced our scope 1 & 2 emissions over CO2 footprint the last decade target in 2020 CO2 emissions (KTon)

166 CO2 neutral since 2016 thanks to Gold Standard 39 37 27 compensations 2007 2018 2019 2020

CO2 emissions in KTon (scope 1, 2 & 3) -105 * We are actively engaging with suppliers to reduce 714 scope 3 848 779 674 CO2 emissions % of annual spend covered by (KTon) circular Manifestos 2018 2019 2020 2025 Ambition *Due to exceptional conditions 50% 809 742 647 19% only 4% scope 1&2 thanks to significant efforts in the 2018 2019 2020 2020 2021 past. Ambition =

7 Aiming to compensate residual impact In 2020, avoided emissions at B2B customers already by avoided compensated for 69% of Proximus emissions emissions at customers -465KTon 69% B2B Reduced CO2 of Proximus’ emissions by PROX = emissions in 2020

B2C On the road to becoming truly circular by 2030 8

Devices given a 2nd life Quantity of copper Mobile phones collected after careful inspection recycled from buildings for re-use, refurbishment and testing and networks or recycling

Refurbished devices (K) Recycled Copper (Ton) Don’t miss the call (K)

489 500 994 900 150 65

2020 2021 Ambition 2020 2021 Ambition 2020 2021 Ambition

Including exceptional high Despite the covid-19 modems and 2M level from building impact on collection in decoders collected outphasing shops and at partnering and refurbished companies since 2014 9

Solid performance in challenging circumstances

9 In 2020 we stepped up our customer growth 10

Postpaid excl. M2M

Net adds Group (‘000)

+2.3% YoY +2.2% YoY +4.2% YoY to 2,137K to 1,677K to 4,277K Supported by the right ingredients 11

11

Best content… multi-branded and networks… segmented offers. Pickx

(Revamped mobile offer, Flex family offer) Strong traction for high-value convergent 12 offers leading to higher consumer ARPC

317,000 Flex

Convergent revenue up, Convergence rate Flex multi-mobile driven by Flex strategy drove 60% average RGUs up end Q4’20 + 1.5% YoY ARPC 3.73 (+2.5 p.p. YoY) 3P Conv: 3.68 €58.6 in Q4’20

Q4'19 Q4'20 13 Appealing Fiber offers starting to show in our net consumer customer Fiber park* (in K) growth. 65 56 49 39 44

Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 26K *Customer X-play level Fiber net adds in 2020

Flex Fiber The pack tailored to each family member B2B showing good resistance in challenging 14 environment...

F2M usage FV Arpu Postpaid net adds (K) M2M net adds (K) 1.5% 10 Fixed Voice traffic (calls/equiline) YoY trend (K) 8 9 176 0.1% 162 still going strong in Further growing 5 122 106 diminishing value Q1'20 Q2'20 Q3'20 Q4'20 the Mobile base pool. Q1'20 Q2'20 Q3'20 Q4'20 -1.8% Q1'20 Q2'20 Q3'20 Q4'20 Q1'20 Q2'20 Q3'20 Q4'20 -3.0%

Growing Fiber park 1,096K Ongoing move from 2,343K 9 cards end’20 cards end’20 legacy Fixed Data Fiber Copper 6 +3.1% YoY +31.8% YoY Connectivity SD-WAN services to new solutions

2019 2020 Postpaid Arpu YoY trend) InternetFV Arpu Arpu (€) Internet Park (K) F2M usage Mobile ARPU Keeping Fixed YoY44.1 trend Q1'20 Q2'20 Q3'20 Q4'20 (calls/equiline) 43.2 132 133 showing Covid-19 internet base effects on roaming + roughly stable in competitive price competitive market. -5.8% pressure -9.9% -9.6% 2019 2020 2019 2020 -13.0% … and closed 2020 with progressing ICT 15 revenue in a tough economic setting.

Contained Covid-19 impact on ICT.

Gaining traction in key ICT revenue (€ M) transformation areas 537 541 YOY ICT revenue Innovation through 5G & IoT: vaccination growth centres, crowd management solutions,

2019 2020 drones, 5G innovation platform

Winning new deals on managed services (e.g. Atrias IT servicing & VDAB SOC)

Increasing share of ICT revenue in the 40% +2 p.p. 2020 total YoY Domestic revenue 2020 impacted by sanitary 16 crisis, mobile inbound and temporary effects in other revenue TeleSign continuing growth trajectory, 17 BICS’ impacted by Covid-19 & MTN insourcing

Revenue (M€)

273 +38.7 + 56.8% YoY for FY’20 % 174 Continuing revenue growth 76 54 ✓ authentication ✓ mobile identity services. Driving Q4'19 Q4'20 FY'19 FY'20 revenue growth Managing margin MTN & to remain important 260 FY commercial partners of BICS going forward. -13.6% BICS’ stand-alone direct margin

225 ✓ Growing Cloud Communication business. − Covid-19 and MTN insourcing impact. − Structural legacy Voice decline.

FY'19 Covid-19 MTN Underlying FY'20 insourcing DM

17

*Financial split between BICS & TeleSign is based on unaudited internal management reporting. 18 Firm cost reduction in 2020. Domestic -4.4% or € -68M digitalization Indirect FY 2020 Domestic expenses benefits coming in Domestic OPEX (direct + indirect) -3.9 sooner than FY, €M % expected. 1,630 -45

Quarterly Q1'20 Q2'20 Q3'20 Q4'20 -18 OPEX variance 1,567 1

1 BICS 35 Domestic 20 0 10 2019 Structural Non structural 2020 -3 decline decline -2

Incl. € 8M tax provision one-off. & No longer mainly largely the outcome of benefitting from Incl. positive Covid-19 Covid-19 decrease in headcount & efficiency related cost savings savings 19 FY Group EBITDA of €1,836M. Covid-19 impact

estimated at Group EBITDA FY, €M -1.8 about € -49M. %

1,870 -97 Quarterly Q1'20 Q2'20 Q3'20 Q4'20 63 1,836 EBITDA c. €-70M variance c. € 20M 1 8

0 -4 BICS -3 -9 -16 Domestic c. €-49M impacted by about € -10M Covid-19 -11 and € -14M one- offs 2019 Direct margin Opex 2020

impacted by about € -6M Covid-19 Fiber rollout speed accelerated to average of 20 5,000 HP per week

Active in 16 Proximus has joined forces with 2 Cities Homes & Businesses Average weekly industrial partners to expand the Passed (GPON) rollout speeding up Fiber roll-out in less dense (in K) (rounded, HP) +69 areas. +45 +39 460 5,000 346 391 Infrastructure 307 3,400 2,400 2,800

Q1'20 Q2'20 Q3'20 Q4'20 Q1'20 Q2'20 Q3'20 Q4'20 Gearing up for our ambitious Fiber plan to reach 4.2M HP or ~70% of population in Belgium Supporting the ramp-up in our Fiber roll- 21 out, the Group total capex for 2020 totaled € 1 Bn

1,027 1,000 • Stepping up investments in Digitalization, IT transformation & especially in Fiber • Slow-down in Mobile investments in 2020, awaiting Proximus’ new Radio Access Network 23 21 % • Number of investment projects are past their % capex peak or have been fully completed (Fiber to the business in large industrial zonings) 2019 2020 • Success of Flex, Fiber uptake and ICT-projects Fiber Non Fiber drive customer capex somewhat above own expectations in Q4. FY 2020 normalized FCF of € 354M, cash out 22 related to workforce transformation plans main driver for YoY decrease

(€ M)

498 6 504 -34 36 1 -154

45 -45 1 354 -2 352

Incl. lower amount of Mainly Mainly property related to related to disposal. Codit earn- Codit out retention amount

FCF Acquisitions FCF Underlying Income Interest Early Cash AP/AR/ Other FCF Acquisitions FCF YTD'19 2019 YTD'19 Ebitda tax payments Leave Plan Capex Inventory YTD'20 2020 YTD'20 normalized payments /FFP normalized Plan

• Early leave plan refers to voluntary early leave before retirement and FFP plan to the Fit for Purpose transformation plan • FCF includes the lease payments 23 We have delivered upon our FY2020 EBITDA-Capex guidance, in spite of somewhat higher than

Revised anticipated customer- Guidance Actuals Actuals guidance FY metrics FY 2019 FY 2020 driven capex end- 2020

2020. EBITDA - At least € 844M € 836M CAPEX € 830M

Group underlying € 1,870M € 1,836M / EBITDA

CAPEX Below (excl. spectrum & football € 1,027M € 1,000M rights) € 1 Bn 24

Outlook

24 25 2021 will be a transition year, in which we will further execute upon Domestic revenue: • Gradual roaming recovery anticipated in H2’21 • Customer growth in Consumer Internet, TV and our #inspire2022 strategy. Mobile Postpaid base. • Carefully managed Enterprise transition. • Continued impact from eroding SMS inbound traffic (margin neutral on Domestic level).

Group EBITDA Actuals Guidance Guidance metrics • Including higher YoY expenditures FY 2020 FY 2021 • Additional Domestic costs of c. € 50M : ▪ Fiber migrations and IT transformation Underlying Domestic ▪ Cloudification & Roll-out of shared mobile € 4,285M Close to the 2020 level revenue network Mwingz (capex to opex) ▪ Less cost benefits from Covid-19. • Tight cost control in other areas & work on cost efficiencies through digitalization, automation & Underlying Group EBITDA € 1,836M € 1,750-1,775M simplification.

CAPEX Capex € 1Bn Close to € 1.2Bn Increase driven by accelerated Fiber roll-out, aiming (excl. Spectrum & football rights) to double roll-out speed vs. 2020. Investments in Mobile Network & IT transformation. Net debt / EBITDA 1.28X < 1.6X Net debt/EBITDA Incl. Fiber equity injections, acquisition minority stakes in BICS and of Mobile Vikings (pending competition authorities' approval). 26 Proximus confirms its #inspire2022 strategy and launches a new efficiency program to do more… Confirming our ambition of

• Topline & EBITDA growth as of 2022

Outlook • 3-YR indirect OPEX reduction over 2020-2022 Underlying Domestic Grow as of 2022 (largely reached in 2020). revenue excl. terminals

Reduce by -1% to -2%CAGR Domestic Indirect OPEX over the 3-year period 2020-2022 & Shaping up new company- About € 400M over 2020-2025 of which Gross cost savings wide cost program to support about roughly half over 2020-2022 further cost efficiencies, Underlying Domestic targeting about 400M€ Gross Grow as of 2022 EBITDA OPEX savings by 2025, of which roughly half reflected in 2020-2022 ambition. 27 Shareholder return

On 25 February 2021, the Proximus Board of Directors approved to return to the shareholders a total gross dividend of €1.2/share over the result of 2020, subject to AGM approval on 21/04/2021. The interim dividend of €0.5/share was paid in December 2020.

Remaining normal dividend of €0.70 per share :

• Ex-coupon date: 28 April 2021 • Record date: 29 April 2021 € 1.2 • Payment date: 30 April 2021 Proximus reiterates its intention to return over the result of 2021 and 2022 an annual gross dividend of € 1.2 per share, to be considered as a floor. Q&A Amore detailed view on the results 30 Table of Content

• Group P 31 • Consumer P 45 • Enterprise P 54 Notes

• All figures included in this presentation are on • Wholesale P 62 ‘Underlying’ basis, allowing for a meaningful YOY comparison. • BICS P 63 • Figures are rounded. Variances are calculated from the source data before rounding, implying • Appendix P 66 that some variances may not add up. 31 Q4 2020 financial performance

€ 1,089M € 397M € 816M Underlying Underlying Underlying Q4 2020 Domestic revenue Domestic EBITDA Domestic direct margin -4.0% YoY -4.0% YoY -1.6% YoY

€ 426M + 4.1% € M 419 Underlying Consumer Underlying Group EBITDA Convergent Customer Domestic Expenses -6.1% YoY revenue +0.7% YoY 32 Closing the year 2020 in line with EBITDA – CAPEX guidance

€ M € 5,479M € 1,740M 1,000 Group CAPEX Underlying Underlying (excl. spectrum) FY 2020 Group revenue Group Expenses -3.6% YoY -3.5% YoY -27M YoY

€ 3,576M € 1,836M € 836M Underlying Underlying Underlying Group direct margin Group EBITDA Group EBITDA – -2.6% YoY -1.8% YoY Capex excl. Spectrum 33 Underlying Group Revenue

(M€ & YoY %) -3.6%

-4.3% 5,686 5,479

1,415 1,413 1,407 1,452 1,393 1,330 1,368 1,389 1,301 1,194 -5.5% 319 329 335 317 308 300 293 294 YoY

1,096 1,084 1,071 1,134 1,086 1,037 1,074 1,089 4,386 4,285 -4.0% Domestic YoY Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 YTD'19 YTD'20 Q4’20 Underlying domestic revenue -4.0% on high 34 comparable base for terminals and ICT products. Total telecom services revenue remains stable (+0.1%)

Q4 2019: €1,134M FY 2019: €4,386M

10 Fixed Services 27 -10 ICT 3 -9 Terminals 0 - % -1 4.0 Advanced Business Services -1 -2.3% -1 Luxembourg Telco -2 -2 Mobile Prepaid -7 -6 Others -10 -8 Mobile Postpaid -47 -18 Wholesale* -63

2020: €1,089M 2020: €4,285M

*Incl. mobile inbound revenues Domestic Fixed 35 Operationals (‘000)*: Services 2,122 2,137 # Lines Q4 YoY +2.2%, benefitting from: 2,065 2,071 2,079 2,088 2,090 2,108

• Firm growth in Internet and TV base, +48K supported by Proximus Flex offer and by Internet YoY 19 in low-end of the market. 14 15 8 8 9 +2.3% • January 2020 price indexation, 6 1 • Ongoing Covid-19 related rise in Fixed Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Voice traffic volumes • e-Press, though support starting to fade. 1,626 1,631 1,635 1,640 1,641 1,652 1,663 1,677

+36K YoY 11 11 14 7 6 5 3 1 +2.2% Revenue (M€) Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20

2,513 2,477 2,440 2,401 2,349 2,327 2,273 2,213 Q4 FY

1.4% 2.2% -22 -188K Fixed -37 -36 -36 -39 Voice -52 -54 -60 YoY 1,945 1,972 -7.8% 486 496 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20

Q4'19 Q4'20 YTD'19 YTD'20 Net adds Park *Group operationals cover Proximus (Consumer and Enterprise), Scarlet, and Wholesale. Strong Postpaid customer 36

growth in Q4 2020, # Mobile cards & net adds (in ‘000) Postpaid 4,901 supported by new 4,880 YoY 4,831 4,839 convergent multi-mobile 4,818 4,813 4,824 4,820 +174K +4.2% offer Flex Postpaid net adds 45 57 43 Prepaid net adds 24 24 23 21 30 Prepaid -11 -19 -16 YoY Mobile park excl. M2M -39 -29 -26 -36 -22 -93K Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 -12.9%

Mobile services revenue (M€ & YoY) > 4.9M Mobile cards 2,354K M2M sim cards -5.5% (group) + Growing customer base − Pressure on Roaming (Covid-19 997 942 related drop in travelling), Prepaid 49 42 624K 31.7% however more limited than prior quarter 13% − Pricing pressure at Enterprise 947 900 2,354 1,788 87%

Q4'19 Q4'20 YTD'19 YTD'20 Postpaid 4,277K 37

Underlying Domestic 16 -9 -17 direct margin, 913 Q4 YoY € -14M, incl.: -4 -9 • about € -10M Covid-19 headwinds Q4 890 • - 6M€ one-off effect (recorded in Q4 (M€) 2019 , loyalty provision reversal)

Domestic -1.6% -11%

Underlying BICS direct Group -2.5% margin, Q4 YoY € -9M, incl.: Q4'19 Consumer Enterprise Wholesale Other (incl. BICS Q4'20 • about € -7M€ Covid-19 headwinds eliminations)

-2.6% -2.5% Q4 FY 3,673 3,576 (M€) 913 890 (M€) 325 303 BICS BICS -6.7% YoY 83 74 -11.0%YoY 3,348 3,273 Domestic 830 816 Domestic -2.2% YoY -1.6% YoY Q4'19 Q4'20 YTD'19 YTD'20 Group expenses +1.1% in Q4, 38 -3.5% for the full-year.

459 3 2 464 +0.7% YoY Domestic expenses in Q4: Q4 • higher non-workforce (M€) expenses, including a one-off 1.1% cost provision for € 8M. • No favourable Covid-19 effect on domestic costs. Q4'19 Domestic BICS Q4'20

1.1% -3.5%

1,802 1,740 -1,612 Q4 YoY 463 440 441 459 442 464 Q’s 403 430 172 172 Domestic FTEs (ELP/FFP*) +5.0% BICS (M€) 44 42 44 43 43 45 41 44 YoY 531 531 144 128 124 136 149 141 117 124 +9.2% Domestic NWF 13,385 12,931 11,423 YoY 727 789 893 276 270 273 280 258 262 270 1,099 1,036 246 -3.5% Domestic WF 12,658 YoY 12,143 10,530

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 YTD'19 YTD'20 2018 2019 2020

Domestic BICS * Early Leave Plan/Fit for Purpose plan Domestic Q4 Underlying EBITDA -4.0% 39

414 -14 10 -13 Q4 397 (M€) -4.0% or €-16 M YoY

Covid-19 effect Underlying Domestic EBITDA, incl. estimated at €-10M • € -10M est. Covid-19 effects • € -14M one-off effects Q4'19 Direct margin Workforce Non workforce Q4'20

Q’s -0.7% (M€) -4.0%

1,718 1,705 428 446 430 414 428 442 438 397 FY’20 39.8% Domestic EBITDA FY’20 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 YTD'19 YTD'20 Domestic EBITDA -0.7% margin Incl. € -34M Covid-19 effects Group Q4 Underlying EBITDA -6.1% , 40 impacted by Covid-19 and one-off effects

-4.0% YoY Q4 453 -16 -11 426 Underlying Domestic EBITDA (M€) Incl. € -10M Covid-19 effect and € -14M one-offs* €-28 million YoY, incl. Covid-19 effect estimated at €-16M -28.2% YoY Underlying BICS EBITDA Q4'19 Domestic BICS Q4'20

Q’s -1.8% (M€) -6.1% 33.5% 1,870 1,836 Underlying 484 470 464 477 469 463 453 426 GROUP EBITDA margin in FY’20 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 YTD'19 YTD'20 +0.6 p.p. YoY

* One-off tax provision for €8M related to historical discontinued promotional arrangements and € 6M one-off direct margin benefit in Q4 2019 From EBITDA to FCF, YTD 2020 41

(€ M)

*

• Early leave plan refers to voluntary early leave before retirement and FFP plan to the Fit for Purpose transformation plan Net income evolution 42

+51.3%, mainly on positive YoY impact from incidentals+0.3%

FY 280 3 0 -58 (€ M) 1 564

373 -34

Effective tax rate 23.0%

YTD'19 Underlying Incidentals D&A (*) Net Tax expense Others (***) YTD'20 Ebitda finance result (**)

* Excluding Lease depreciations ** Excluding Lease interests *** Includes Non-controlling interests and Share of loss from associates Proximus invested € 1Bn in 2020 43 (excl. spectrum & football rights)

Investing amongst others in ….

Build the best GIGABIT network for Belgium

Fiber build Mobile network Transport network IT transformation New Digital platforms FTTH/B 4G population coverage Proactively strengthening Rationalizing IT landscape Automation & AI in 16 cities • outdoor 100% our transport network (-40% IT costs by 2025) boosting efficiency & Nation-wide greenfield • indoor 99.6% customer experience deployment Backbone of all voice, Enable digital ecosystems data & TV traffic: Digital tools & integrated 460K Homes passed end- 5G launched since 01/04 data capacity Agile way of working & cockpits December 2020 (existing spectrum & EMF shorter time to market norms) Investing in Pickx & MyPxs x10 app, improving customer experience Nokia & Ericson selected as Robotic Process partners to roll out mobile Automation (reducing network of the future workload) Keeping a sound financial position 44 (situation end December 2020)

Dividends Net debt end to non-controlling Net debt end Adjusted December 2019 Free Cash Flow Dividends interests Other December 2020 5.0 Yr Net Debt* Average debt duration (YTD, M€) Excluding Lease liabilities 1.28X net debt % /ebitda 1.75 352 -485 Weighted average coupon -26 -12 -2,185 -2,356 Credit ratings: Standard & Poor’s A (negative outlook) Moody’s A1 (stable outlook) Debt Maturity Schedule Investment loan (M€) Liquidity end December 2020: Ұ private placement • €318M investments, cash & cash Institutional Eurobonds 400 equivalents (incl. derivatives) 600 Commercial paper • EMTN Program €3,500m 500 500 (€2,100m outstanding). • CP Program €1,000m (€150M outstanding) 150 150 150 100 11 100 • Committed credit facilities: €750M 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 consumer 45 Q4 Consumer highlights

• Continued strong commercial traction, supported by the Flex offer and the year-end campaign. • Adding 31,000 Mobile postpaid cards, 13,000 Internet and 14,000 TV subscriptions. • Strong traction for convergent Flex offer with 317,000 subscriptions six months after launch. • Services revenue continuing good trend. Total revenue -1.3% due to low-margin Terminals and one-off 2019 provision reversal. • +4.1% Convergent revenue, driven by the uptake of Flex. The convergence rate rose to 60.0% and the ARPC was up by 1.5%, despite lower roaming revenue and fading e-Press support. • Direct margin up by 3.2% YoY to reach EUR 520 million. consumer 46 Continued strong commercial traction, supported by Flex offer

Postpaid excl. M2M

Net adds (‘000)

Park 1,965K 1,666K 2,907K end 2020 +44K YoY +36K YoY +127K YoY

+2.3%YoY +2.2% YoY +4.6% YoY consumer 47 Consumer services revenue continuing favorable trend from previous quarters…

Q4 2019: €689M FY 2019: €2,672M

13 Fixed services 45

-4 Mobile Postpaid -27

-1.3% -2 Mobile Prepaid -7 -0.1%

-7 Terminals (incl. joint offers) 6

0 Lux. Telco 0

-9 Others* -20

2020: €680M 2020: €2,668M

*Incl. loyalty provision reversal, reminder, reconnection & installation fees … supporting the Direct margin consumer 48

Q4’20 direct margin +3.2% in spite of € -6M YoY one-off effect. This resulted from higher Fixed Services and Mobile Services direct margin, including lower mobile SMS interconnect and roaming costs.

1.8% 3.2%

Direct 76.5% Margin 514 511 507 504 511 514 526 520 2,036 2,072 of revenue (M€, YoY) + 3.3 p.p. YoY.

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 YTD'19 YTD'20 Fixed Services revenue continued consumer 49

to be strong in Q4 1,901 1,908 1,912 1,921 1,921 1,939 1,952 1,965 Broadband Internet +3.4% YoY supported by: customers +44,000 YoY * (‘000) +2.3% 18 13 13 • Growing Internet & TV customer base 8 7 5 9 0 • Sustained higher fixed voice traffic usage during the Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 fourth quarter soft-lockdown • January 2020 price indexation • Benefit from e-Press (annualized on 1 Dec. 2020) 1,617 1,622 1,625 1,630 1,631 1,641 1,652 1,666 TV customers +36,000 YoY (‘000) 11 11 14 7 4 3 5 0 TV households Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 +2.2% Revenue (M€) & YoY

1,940 3.4% 1,915 1,889 1,858 1,818 1,800 1,755 1,706 Fixed -8.2% YoY Fixed Voice lines voice -28 -25 -26 -31 -18 392 392 -40 -45 -48 382 377 376 379 389 386 customers (‘000)

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20

Net adds Park * 9K underlying net adds, i.e. excl. impact customer re-segmentation Mobile services revenue decrease consumer 50 contained to -3.1% for Q4

Continued Covid-19 Mobile service revenue (M€) & YoY variance Mobile park (‘000) headwind on roaming 17% -4.9% Prepaid -3.1% -3.1% 597

702 3,504K* 171 165 667 +127,000 2,907 Postpaid cards FY2020; Q4'19 Q4'20 YTD'19 YTD'20 83% Postpaid +31,000 in Q4: ✓ Year-end promotions ✓ Traction of the multi-mobile Mobile postpaid park* & net adds (‘000) Mobile usage/consumer (in GB) offer Flex

2,734 2,752 2,766 2,779 2,797 2,829 2,876 2,907 +4.6% YoY 4.2 ** 47 3.2 14.8% 32 31 19 14 14 18 Q4’20 postpaid churn 0 -1.4 p.p. YoY Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q4'19 Q4'20

*excluding Consumer M2M ** 16K underlying net adds, i.e. excl. impact customer re-segmentation consumer 51 Postpaid Prepaid Revenue erosion slowed to -2.3% Revenue erosion due to lower park & lower Strong customer growth offset by ARPU decline, including usage. impact from limited (non-EU) roaming traffic, larger data bundles and favorably priced subscriptions in Pack.

Revenue (M€ & YoY) Revenue (M€ & YoY)

-2.3% -15.2%

162 164 167 160 155 153 161 156 15 13 12 11 11 10 10 9

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20

YoY decline somewhat softened vs. prior ARPU (€ & YoY variance) quarters (fading impact from e-Press & ARPU (€ & YoY variance) more contained headwind on roaming).

-6.3% -2.4%

7.0 19.8 19.9 20.1 19.2 18.5 18.2 18.8 18.0 5.4 5.3 5.1 5.0 6.6 5.2 5.0

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 X-play revenues up by +1.3%, in spite of consumer 52 the Covid-19 impact on roaming revenue.

81% Consumer revenue generated by X-Play Customers*

€ 551M X-play Revenues X-play (M€) Customers (‘000) ARPC X-play (€) +1.3% YoY +1.5% YoY

3,140 3,130 Consumer 57.8 58.6 Revenue 544 551 715 688 € 680M 99.7 99.8 4P 757 807 208 214 3P 3P 92.4 385 379 Convergent 94.0 2P 159 172 3P Fixed 56.8 57.8 1P 66 1,282 1,257 67 57.1 58.5 Total 106 104 27.5 27.5 Q4'19 Q4'20 Q4'19 Q4'20 Q4'19 Q4'20

* Remaining 19% consists of revenue from Terminals, Prepaid, Tango and Other consumer 53 Consumer telecom business holds up well through progressing convergence rate*

Convergent net adds (‘000) Convergent customers (‘000) Convergence rate 60.0% Convergent revenue (€M) +17K QoQ +56K YoY +2.5 p.p. YoY +4.1% YoY

1,124 1,067 88 85

267 348 2P Conv 4.1% 57.4% 60.0% Conv % 3P Conv 4P Conv Non Conv % 715 688 Total 305 317 16 17 12 12 42.6% 40.0%

Q4'19 Q4'20 Q1'20 Q2'20 Q3'20 Q4'20 Q4'19 Q4'20 Q4'19 Q4'20

*On total of multi-play customers of 1,124k enterprise 54 Q4 Enterprise highlights

• Q4 revenue variance impacted by very high comparable base for ICT products at low- margin, while improving the services contribution. • Revenue erosion in Fixed and Mobile services remained contained. • Mobile Postpaid base +10,000 net adds, Mobile ARPU mostly down on Covid-19 related roaming drop & some continued competitive pricing pressure. • Direct margin -3.8% YoY, largely following same trend from prior quarters. • The Direct margin improved YoY by 1.5 p.p. to 66.5%. Enterprise showing resistance in enterprise 55 challenging environment

-3.4% -6.0% Q4 revenue -6.0% YoY, Revenue 1,398 351 343 337 367 343 327 335 345 1,350 Driven by a steep unfavourable (M€, YoY) YoY variance for low-margin ICT Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 YTD'19 YTD'20 products

-1.2% -10.1% Cost of Direct Margin -3.8%, Largely following the same Sales 110 102 106 128 112 104 110 115 447 441 trend from prior quarters (M€, YoY)

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 YTD'19 YTD'20

-4.5% -3.8%

Direct Margin 951 909 66.5% 241 240 231 239 231 224 224 229 (M€, YoY) Q4 Direct Margin/revenue +1.5 p.p. Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 YTD'19 YTD'20 Ongoing transformation with a growing enterprise 56 ICT share on total revenues

2019 €1,398M 2020 €1,350M

54 41 48 35 40 185 39 170 Fixed Voice % Fixed Data 40 ICT Postpaid 245 242 in total ICT Enterprise revenue

537 ABS 541 +2 p.p. YoY Terminals Others (incl Tango) 295 275 Stable Fixed Voice ARPU, with traffic still enterprise 57 going strong in Covid-19 times

-7.2% Fixed Voice revenue Fixed Voice revenue 49 47 45 45 44 42 43 41 (M€) & YoY variance down by -7.2% YoY

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20

531 519 509 500 489 484 475 462 Ongoing line erosion Voice line loss/gain & -4 462k Fixed voice park, EOP (‘000) -10 -12 -10 -9 -12 -9 -13 -7.6% YoY Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20

0.1% Stable Fixed Voice ARPU

Fixed voice ARPU (€) & with traffic still going strong in 30.2 29.8 29.2 29.5 29.7 29.0 29.7 29.5 YoY variance Covid-19 times, slightly offset by exceptional credit note Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20

* Value added services e.g. 0800 numbers Fixed Data revenue +1.0% YoY supported by enterprise 58 Eleven Sports contract & continued growing Fiber park 1.0% Fixed data revenue Fixed data* revenue +1.0% YoY (M€) & YoY variance 62 61 61 62 60 59 61 62 + Contract with Eleven sports Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 + Growing Fiber Park - Ongoing legacy Data outphasing

131 129 132 132 132 132 132 133 - Attractive customer pricing in competitive market Internet growth & EOP (‘000) ** 3 1 0 -2 0 0 0 0

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Steady Internet park -1.9% In a competitive setting, +1.2% YoY

Broadband ARPU (€) & 44.2 44.4 44.2 43.7 43.4 43.1 43.2 42.9

YoY variance Internet revenue drivers revenueInternet

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20

*Consists of data connectivity services, internet and SD-WAN ** -1K underlying net adds, i.e. excl. impact customer re-segmentation Solid growth in mobile base, ARPU enterprise 59 impacted by roaming drop and ongoing competitive pricing pressure

Mobile Services revenue (M€) & YoY variance Mobile postpaid growth & EOP (‘000) 1,048 1,053 1,059 1,063 1,072 1,081 1,086 1,096 YoY mobile postpaid base -6.5% +3.1% or +33,000 incl. +10,000 Mobile postpaid net adds in 73 75 74 72 71 67 69 68 19 * Q4’20 5 6 5 8 9 5 10 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20

€ 19.5 Mobile postpaid ARPU (€) & YoY variance M2M growth & EOP (‘000) Mobile postpaid ARPU, 2,343 2,076 2,181 1,676 1,778 1,900 -9.6% YoY 1,427 1,561 -9.6% Remaining significantly impacted 176 by Covid-19 effect on roaming, 22.5 22.7 22.4 21.6 21.2 19.8 20.2 133 162 19.5 101 116 102 122 106 and to a lesser extent, continued competitive pricing pressure Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20

* +4K underlying net adds, i.e. excl. impact customer re-segmentation ICT revenue down from high comparable enterprise 60 base, with limited Covid-19 impact in terms of some contract-delays

ICT revenue (M€) & YoY

Exceptional high level of low-margin product deals -6.8%

• High comparable base in Q4’19, which 132 128 126 152 134 131 135 141 included an exceptional level of low-margin product deals. Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20

• Specialized ICT companies continued to provide support by bringing digital transformation solutions for professional customers and as such help to secure core connectivity services. enterprise 61 Advanced Business Services

ABS includes revenue from Proximus’ convergent solutions, and Smart mobility revenue from Be- Mobile, among which parking revenues with some Covid-19 exposure.

€M

-10.3%

10 10 9 11 10 9 10 10

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 wholesale 62 Wholesale • More than 1/2 of the YoY revenue decrease resulted from lower mobile inbound (reduced SMS usage following the fourth quarter lockdown ). • Visitor & instant roaming revenues continued to be impacted by Covid-19 driven travel reluctance and bans. • DM decline following revenue trend. Decline mostly related to lower mobile inbound margin (group neutral).

-16.8% -19.4%

Revenue 376 313 92 95 98 92 86 81 (M€, YoY) 71 74

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 YTD'19 YTD'20

-16.5% -19.9%

Direct Margin 341 284 (M€, YoY) 84 86 87 84 79 65 73 67

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 YTD'19 YTD'20 bics 63 Q4 BICS results

• Direct margin impacted by steady adverse effects from Covid-19 travel restrictions and continued MTN insourcing headwinds. • Sustained strong performance by TeleSign driven by authentication and mobile identity. • BICS’ legacy Voice continuing its eroding trend. • Direct margin pressure drives Ebitda down to EUR 29 million, with Ebitda margin at 9.5%. BICS P&L bics 64

-8.2% -5.5% Revenue (M€) & YoY variance 1,301 1,194 319 329 335 317 308 293 294 300 Direct Margin € -9M YoY • about € -7M Covid-19 effects Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 YTD'19 YTD'20

-6.7% -11.0% % DM/rev Direct Margin 24.6 (M€) -1.5 p.p. YoY 79 80 83 83 79 76 74 74 325 303

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 YTD'19 YTD'20 9.5% Ebitda/revenue -3.0 p.p. YoY

-14.5% Ebitda (M€) & -28.2% YoY variance 153 35 38 40 40 36 35 31 29 131

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 YTD'19 YTD'20 bics 65 BICS Standalone TeleSign

• Revenue decline largely driven by • Continuing growth in both authentication and mobile • Low-margin revenue from legacy voice, reinforced identity services by Covid-19 effects and the progressing insourcing • Direct margin increased, despite some negative by MTN Covid-19 effects • Mobility-dependent (roaming, signaling) services • Direct margin impacted by Covid-19 travel restrictions and continued MTN insourcing headwinds

-14.6% 38.7%

BICS TeleSign 283 293 288 263 250 58 68 72 76 Revenue 224 222 224 Revenue 35 37 48 54 (M€) (M€) Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420 Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420

-17.3% 11.8% BICS direct TeleSign margin 64 65 66 65 60 56 55 54 direct margin 15 15 17 18 19 20 19 20 (M€) (M€) Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420 Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420 appendix 66 Appendix

• From reported to underlying P 67 • Covid-19 impacts P 68 • Fiber wholesale pricing P 69 • Spectrum P 70 • Portfolio information P 72 • Shareholder structure P 82 • Contact information P 84 appendix 67 From reported to underlying figures

GROUP GROUP GROUP GROUP Revenue EBITDA Revenue EBITDA (EUR million) Q4 '19 Q4 '20 Q4 '19 Q4 '20 YTD '19 YTD '20 YTD '19 YTD '20

Reported 1,458 1,390 224 435 5,697 5,481 1,676 1,922

Lease Depreciations 0 0 -18 -22 0 0 -82 -82

Lease Interest 0 0 -1 -1 0 0 -2 -2

Incidentals -7 -1 247 13 -11 -2 278 -1

Underlying 1,452 1,389 453 426 5,686 5,479 1,870 1,836

Incidentals -7 -1 247 13 -11 -2 278 -1

Capital gains on building sales -7 -1 -7 -1 -7 -2 -7 -2

Early Leave Plan and Collective Agreement 2 -3 19 -3

Fit For Purpose Transformation Plan 251 253 -12

Shift to Digital plan* 1 9

M&A-related transaction costs 1 12 9 21

Change in M&A contingent consideration -4 -4

Pylon Tax provision update (re. past years) 0 5 -1 -6

Others

*The incidental costs related the to the Shift to Digital plan represent mainly exceptional costs linked to the optimization of Proximus’ sales channel footprint following its increased focus on e- Sales. Covid-19 impact in 2020 remained largely appendix 68 limited to roaming loss, and some pressure on ICT growth.

€ M Significant Covid-19 related Opex savings (Company estimates, rounded figures) starting to wind down: • Strong digital sales Q1 Q2 Q3 Q4 FY 2020 • Homeworking related savings • Lower travel expenses € +20M • Q4 domestic: no longer benefit from net favorable 13 Opex covid-19 related cost effect 5 2 1 -6

-17 -4 -19 € -70M Direct Margin impact: -28 DM • Retail & wholesale roaming impact, especially in non- -15 -14 -16 EU zones • So far, enterprise ICT impact limited with growing revenue from hybrid cloud, advanced workplace, smart networking. Direct Margin Opex EBITDA • Partially off-set by higher Fixed Voice usage BIPT draft decision on appendix 69 Fiber wholesale pricing

• Draft decision notified to EU Commission on 26/01/2021. • BIPT still concludes Proximus rates are fair, i.e. not exceeding the costs of an efficient operator including a reasonable margin and in line with the regulation set in 2018 Proximus supports BIPT draft decision • 150/50Mbps: 23€ + 1.4€ (transport cost) • 500/100Mbps: 28€ + 2€ (transport cost) on Fiber wholesale • 1000/200Mbps: 36€ + 6€ (transport cost) pricing

• A final decision is expected in the first quarter of 2021. Spectrum (situation as from 1/1/2021) appendix 70 The multi-band spectrum auction still on hold

CurrentExpiry ownership dates and new spectrum:

Proximus OBEL 29/11/33 800 MHz 2 x 10 2 x 10 2 x 10

Proximus OBEL Telenet 15/03/21* 900 MHz 2 x 12.4 2 x 11.6 2 x 10.2

1,800 Proximus OBEL Telenet 15/03/21*

MHz 2 x 24.8 2 x 24.8 2 x 24.8 Renewal 2,100 Proximus OBEL Telenet Unallocated 15/03/21* 1 x 5.4 1 x 5 1 x 5 1 x 5 MHz 2 x 15 2 x 14.8 2 x 14.8 2 x 14.8

2,600 Proximus OBEL Telenet Citymesh/Cegeka Dense Air Belgium 30/06/27 MHz 2 x 20 2 x 20 2 x 15 2 x 15 1 x 45

Proposed Expiry dates

All around 700 MHz 2 x 30 MHz 2042

1,400 90 MHz MHz

Citymesh Citymesh 3.4 - 3.8 Telenet OBEL Unallocated Proximus New New spectrum Unallo. Gridmax Unallocated Gridmax Unallocated GHz 20**20 20**20 50*** 50*** 50 50***

* with the possibility to extend these existing licenses by terms of max 6 months until an auction will re-allocate the rights ** 2 blocks of 20MHz locally occupied by Citymesh/Cegeka and Gridmax until 7/5/2025 (regional licenses) *** licenses granted on a temporary basis until an auction will attribute the final rights Temporary 5G Spectrum appendix 71 Awaiting the multiband auction, temporary licenses have been allocated in the 3600-3800MHz band

Allocation process • By a decision dated 14th July 2020, the BIPT attributed 40MHz on a temporary basis to each valid candidates (Proximus, , Telenet, Cegeka and Entropia) • 13 October 2020, after Entropia exit, BIPT redistributed the released 40MHz among the other actors. Only Proximus, Orange Belgium and Telenet requested an additional part of 10MHz. • As from 1st January 2021, Cegeka released its 40MHz spectrum rights.

License conditions • Each operator may decide when they want to start their license • Right will be valid until an auction is organized • Yearly fee of € 105,000 per block of 10 MHz • No coverage obligations and no unique fee • Spectrum has to be put in service by 1 March 2021 at the latest

Final attributions (situation as from January 1st, 2021)

3600-3800 Proximus Telenet OBEL MHz 50 MHz 50 MHz 50 MHz • Pickx & 80 channels Flex • My e-Press • TV Replay The pack tailored to each family member

+ Family life Premium app • Unlimited internet • Optimized wifi • Family life app • Cloud 10 GB +€ 11 + Unltd calls to Belgium, 24/7 + WiFi Booster (Fiber 350 Mbps) + Fiber 500 Mbps (**)

• Pickx & 80 channels • My e-Press • TV Replay + TV option +€10 Family or Movies & Series Other TV options available at surcharge (eg Netflix, All Stars & Sports) + + + + + Unlimited Mobile Flex Mobile Flex + Unlimited Light Unlimited Premium Unltd data & 5 GB 15 GB Unltd data access to 5G Unltd data Worry- data Worry-free data FUP 20 GB FUP 40 GB & access 5G Unltd calls/SMS Unltd calls/SMS Unltd calls/SMS Unltd calls/SMS Unltd calls/SMS 5 GB for Pickx-app 5 GB for Pickx-app 5 GB for Pickx-app 5 GB for Pickx-app 5 GB for Pickx-app

€ 74,99 (*) € 85,99 (*) € 92,99 (*) €98,99 (*) € 109,99 (*)

(*) Fiber + 5€ € 9 € 20 € 27 € 33 € 44 (**) Fiber 1 Gbps +15€ additional FlexFlex – 4 hero combinations with mobile 4 hero combinations including mobile

3P The essentials Mob All-in 4P All-in for families 4P Unlimited mobile surfing 4P

5 GB 5 GB 5 GB mobile data 5 GB mobile data + continue surfing for free + continue surfing for free + continue surfing for free + continue surfing for free 5 GB mobile data +Unltd mobile surfing + continue surfing for free

80 channels TV & Pickx 80 channels TV & Pickx 80 channels TV & Pickx 80 channels TV & pickx My e-Press My e-Press My e-Press My e-Press 1 TV option 1 TV option 1 TV option 1 TV option

Unlimited surfing Unlimited surfing Unlimited surfing Unlimited surfing + Wifi booster Wifi booster Wifi booster + Family life Premium Family life Premium Family life Premium + Unlimited calling (BE) Unlimited calling (BE) Unlimited calling (BE)

€84,99/mois €95,99/mois €104,99/mois €122,99/mois

Unlimited surfing Unlimited surfing Unlimited surfing Unlimited surfing

350/30 Mbps 500/50 Mbps 500/50 Mbps + 1 Gbps/100 Mbps FIBER €89,99/mois €100,99/mois €109,99/mois €142,99/mois We generate extra value thanks to appendix 74 speed tiering in our Fiber Flex offers

Flex Fiber The pack tailored to each family member

speed tiering speed tiering 1 Gbps

500 Mbps +15€ 350 Mbps Fiber +11€

50 Mbps +5€

50 Mbps 100 Mbps

Copper services tiering

(current residential offer on the market) * Prime not available on internet stand-alone **BIG optional included at 5€/month & 50€ activation fee 75 Business Flex *** Fiber monetized at +5€ (not compatible with BIG until mid 2021 (new Bbox) Making your business stronger 107€ day after day /month

Service Prime service* “Always connected” guarantees (Business Internet Guarantee**, SDR, 24/7 & replacement) Configure your pack in 4 steps

On the Go € 13 € 24 € 31 € 37 € 52

1 Business Business Business Int’l TOP 3 Business Flex + Unl LITE Business Unl 1000 EU + TOP 3 Flex 15 GB 250 EU 500 EU Min/sms mins/sms 100 EU Min/sms multi-mobile 5 GB FUP: 45GB + 1 GB in TOP 3 Min/sms FUP: 25GB NO FUP Pricing as from 9€

€ 9 € 20 € 27 € 33 € 48

At the Unlimited surf - - Best WiFi incl Unl. Surf - Best WiFi incl booster when Unl. Surf -Best WiFi incl booster when 2 office booster when needed needed needed Unlimited calls national Unlimited calls + 1000 min in’l

54€ Fiber 350mbps *** 59 € 64 € Fiber 500mbps 69 € 69 € Fiber 1Gbps 74 €

3 Entertain 12 € Pickx (80 channels; TV replay; 1 decoder; 5GB for Pickx App)

Options Further customize with digital possibilities (Business Online, Business Call Connect, TV options) 4 appendix 76 Mobilus – mobile standalone pricing

S M L 5G 5G + Unlimited Unlimited Mobile only: Premium

Unlimited Mobilus 2 GB 10 GB 15 GB Unlt. data* Unlt. data** Mobile data Unlt. sms Unlt. sms Unlt. sms Unlt. sms Unlt. sms for your 120 min Unlt. min Unlt. min Unlt. min Unlt. min favourite App Standalone price € 15.99 € 26.99 € 36.99 € 42.99 € 49.99 (incl.VAT) (incl.VAT) (incl.VAT) (incl.VAT) (incl.VAT)

*FUP: BE+EU: 35 GB at full speed 4G, then 512 Kbps **FUP: EU 50GB then 0,0036€/MB at full speed appendix 77 Bizz Mobile portfolio 77

*FUP: BE+EU: 40 GB at full speed 4G, then 512 Kbps **FUP: EU: 50GB then 0,0030€/MB at full speed

Bizz Mobile 5G Bizz Mobile 5G Bizz Mobile S Bizz Mobile M Bizz Mobile L Unlimited International

2 GB 10 GB 20 GB Unlimited data* Unlimited data**

100 min + Unlimited min Unlimited min Unlimited min Unlimited min Unlimited to fix Unlimited SMS Unlimited SMS Unlimited SMS Unlimited SMS Unlimited SMS + + + Bizz International Bizz International 1 GB, 600 min option included option included & 600 SMS in/to USA/CAN/SWI or to EU + Bizz International option included

+ Unlimited Mobile data for your favourite App

Standalone € 13 € 23 € 32 € 40 € 55 Pack / Multiple cards € 13 € 20 € 29 € 37 € 52 (excl.VAT) (excl.VAT) (excl.VAT) (excl.VAT) (excl.VAT) • Full-digital journey appendix 78 • Worry-free connection, anytime, anywhere • Pioneering in the Millennials & Gen Z segment

*25GB at maximum speed in Belgium + EU *25GB at maximum speed in Belgium + EU *40GB at maximum speed in Belgium + EU

€ 19.99 € 24.99 € 37.99 appendix 79

Digital native Full experience

Mobile subscription with Mobile subscription with endless data for social + endless data for social + music + video apps music + video apps

Internet at home Internet at home

TV on all your screens TV everywhere via Incl. Android decoder Pickx app and web (or Apple TV for +69€)

High performance cloud gaming offered via Shadow

+4GB extra mobile data for all the rest +4GB extra mobile data for all the rest Unlimited call minutes Unlimited call minutes Unlimited SMS Unlimited SMS

€ 64.99 € 79.99 A pack for the / month / month specific needs of millennials appendix 80

fixed portfolio

Positioning Scarlet as no frills brand, with very attractive pricing for ‘price seekers’ appendix 81

mobile portfolio

NEW appendix 82 Shareholder structure Situation 31/12/2020

Total number of shares Free-float Belgian Government Market Capitalization* Dividend yield* 338,025,135 42% 54% ~€ 5.2Bn ~7.4%

Number of shares Number of shares Number of shares % shares % Voting rights % Dividend rights with voting rights with dividend rights

Belgian state 180,887,569 53.51% 56.06% 55.94% 180,887,569 180,887,569

Proximus own shares 15,335,109 4.54% 0.21% 693,702

Free-float 141,802,457 41.95% 43.94% 43.85% 141,802,457 141,802,457

Total 338,025,135 100.00% 100.00% 100.00% 322,690,026 323,383,728

The voting rights of all treasury shares are suspended by law. Proximus has 14,641,407 treasury shares that are not entitled to dividend rights and 693,702 treasury shares that are entitled to dividend rights.

Transparency declarations: According to Proximus’ bylaws, the thresholds as from which a shareholding needs to be disclosed have been set at 3% and 7.5%, in addition to the legal thresholds of 5% and each multiple of 5%. *31/12/2020 appendix 83 Cautionary statement

“This communication may include some forward-looking statements, without limitation, regarding Proximus’ financial or operational results, certain strategic plans or objectives, macro-economic trends, regulation, future market conditions and other risk factors. These forward-looking statements rely on a number of assumptions concerning future events and are subject to uncertainties and other factors, many of which are outside Proximus’ control. Therefore, the actual future results may differ materially from those expressed in or implied by the statements. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only of the date of this communication. Except as required by applicable law, Proximus disclaims any intention or obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This document and the Q&A session may contain summarized, non-audited or non-GAAP financial information. The information contained herein should therefore be considered in conjunction with all the public information regarding the Proximus Group available, including, if any, other documents released by the company that may contain more detailed information. Information related to Alternative Performance Measures (APM) used in this presentation are included in the consolidated management report.” For further information… appendix 84

Investor Relations

Call: +32 2 202 82 41 +32 2 202 62 17

E-mail: [email protected]

Proximus Investor Relations website : www.proximus.com/en/investors

Nancy Goossens Eline Bombeek Investor Relations Director Investor Relations Manager