March 18, 2014 Full Year 2013 Results 1 An International Cable Operator in Attractive Markets 9 Territories Belgium Luxembourg 14m Homes Passed Western Europe Switzerland France 3m Cable Customers Portugal 6.6m Cable RGUs Israel Dominican Republic Guadeloupe & Overseas Martinique Territories French Guiana Mayotte La Réunion Note: figures above include Orange Dominicana and Tricom 2 Altice SA Full Year Results - Highlights Financials Recent Strategic Initiatives Liquidity & Capital Full-year pro forma1 revenue up 0.7% Successful IPO creates equity IPO raised c€750m primary proceeds to €3.2bn currency for future opportunities & created 26% free float • mainly driven by Israel & France, partially offset by Portugal and Increased Numericable stake to 40% Altice SA consolidated net debt of ODO €6,255bn Closed Tricom acquisition in Full-year pro forma EBITDA up 6.0% Dominican Republic; Orange to follow Altice VII net debt of €3,509bn to €1.36bn €384m consolidated cash and • Mainly driven by Israel & Portugal undrawn revolvers of €163m Full-year proforma OpFCF2 up 27% to €667m Triple-play penetration up 5% pts to 61% Notes: 1 These results reflect the pro forma results of the Altice S.A. group, including the planned acquisition of Orange Dominicana, but excluding Tricom and Mobius. 2 Defined here and throughout presentation as EBITDA - Capex 3 Altice S.A Key Operational Highlights Israel France Reorganization program finished 5% cable customer growth 3.6% ARPU growth driven by strong triple-play and high 2% ARPU growth speed broadband growth Strong shift to high-speed broadband Customer losses due to cost restructuring La Box selling well Mobile revenues up 7% (constant currency basis) as Business revenue hit by regulated termination rate cuts UMTS growth outweighs iDEN decline Capex down 29% after investment-heavy 2012 New “HOT Fibre” box launched (same as “La Box”) Overseas Territories / Orange Dominicana Portugal / Benelux Overseas Territories Portugal 6% ARPU growth as triple-play penetration grows Intense competition, adverse macroeconomic conditions leading to cable customer losses and B2B declines Continued shift from prepay to postpaid mobile subs Cable ARPU remains relatively stable Fixed and mobile integration driving ongoing cost optimisation Lower cost and capex base through renegotiation of supplier contracts, driving 21% EBITDA growth and Orange Dominicana doubling OpFCF Mobile subscriber base grew by 6% Belgium EBITDA margins remain strong at 64% 4 Strategic Initiatives Acquisition of Tricom (Cable) and Orange (Mobile) in Dominican Republic 1 2013 Financials (€m) Leading Market Creates leading 4P operator with #2 position Position with a Significant up-sell opportunity Orange Quadruple Play Approach Revamped and expanded B2B product offering 446 EBITDA 39% Margin 2 Robust High- 78% upgraded to Docsis 3.0 173 Capacity Network 115 Fixed HFC integrated with copper, mobile and B2B 3 Revenue EBITDA OpFCF Best-in-class Highest quality mobile network in Dom Rep1 Mobile Network #2 largest tower portfolio Tricom EBITDA 159 32% Margin 4 Attractive Sector One of largest and most dynamic economies in Caribbean Fundamentals and Strong macroeconomic fundamentals to drive telecom 51 Significant demand 24 Underpenetration Clear underpenetration of pay TV and broadband Revenue EBITDA OpFCF 5 Homogeneous store network distribution (c.680 shops) Efficient Strong focus on customer journey Distribution 2013 KPIs Highest mobile subscriber / PoS ratio Network Upside from cross-selling Tricom through ODO shops Cable HHs Passed (‘000) 456 Cable Customers (‘000) 104 6 Unique Cost Profitable business with high cash flow conversion Savings Opportunity Substantial savings from content, performance Cable RGU/Customer (x) 1.6x to Drive Cash Flow enhancement, Expansion interconnection and other areas Mobile Subscribers (‘000) 3,605 Source: Analysys Mason; WCIS 5 1 Based on Independent consultancy analysis. Further Opportunity to Increase Margins Proven ability Further upside potential from operational efficiencies — Identify attractive targets — Track record of successful turnarounds Margin Expansion 2013 vs. 2012 (EBITDA Margin % pts) Current International1 EBITDA Margin is much Lower than Peers 56.7% 7.4pts 51.3% 48.0% 46.9% 5.3pts 39.0% 3.6pts Portugal Israel FOT International¹ Numericable KDG Telenet Ziggo 1 Altice VII Group. 6 Altice SA Pro Forma Consolidated Financials (excluding Tricom and Mobius) €m 2012 2013 Growth France 1,300 1,314 1.1% Revenues International 1,900 1,907 0.4% Total 3,199 3,221 0.7% France 622 616 (1.0%) Margin (%) 47.8% 46.9% (0.9pp) International 661 744 13% EBITDA Margin (%) 34.8% 39.0% +4.2pp Total 1,283 1,360 6.0% Margin (%) 40.1% 42.2% +2.1pp France 336 296 (11.9%) As a % of Revenues 25.9% 22.5% (3.4pp) Operating International 190 371 95% Free Cash Flow As a % of Revenues 10.0% 19.4% +9.4pp Total 526 667 27% As a % of Revenues 16.4% 20.7% +4.3pp Note: Table assumes all acquisitions took place on 1/1/12 with exception of Tricom & Mobius. In addition, Tricom had revenue of €159m, EBITDA of €51m and Capex of €26m, all in US GAAP. In addition, Mobius had revenue of €19m and EBITDA of €3m. 7 Altice SA Pro Forma Consolidated Revenue Constant Currency €m 2012 2013 Growth Growth Israel 850 882 3.7% 0.3% Dominican Republic - Orange 458 446 (2.5%) 7.3% French Overseas Territories 220 224 1.8% Portugal 235 210 (11%) Benelux 71 71 (1.3%) Other 65 75 15.5% Total International 1,900 1,907 0.4% 1.2% France 1,300 1,314 1.1% Total 3,199 3,221 0.7% 1.1% Total International revenue including Tricom and Mobius was €2,085m Israel flat on constant currency basis as strong growth in UMTS mobile revenue was offset by iDEN and cable customer declines ODO grew on constant currency basis due to strong mobile subscriber growth Portugal decline due to intense competition and adverse macroeconomic conditions France grew due to cable customer & ARPU growth, partially offset by Business declines due to termination rate cuts Note: Table above excludes Tricom and Mobius where revenue was €159m and €19m respectively. 8 Altice SA Pro Forma Consolidated EBITDA Constant Currency €m 2012 2013 Growth Growth Israel 305 363 18.9% 15.1% Dominican Republic - Orange 167 173 3.8% 14.2% French Overseas Territories 75 85 12.5% Portugal 48 58 21.3% Benelux 46 45 (1.3%) Other 20 20 (1.0%) Total International 661 744 12.5% 13.3% France 622 616 (1.0%) Total 1,283 1,360 6.0% 6.4% Total International EBITDA including Tricom and Mobius is €798m Israel growth mainly due to cost restructuring FOT growth due to cost optimisation from ongoing fixed/mobile integration Portugal growth due to restructuring of residential cable businesses Orange Dominicana growth due to revenue growth outweighing labour cost inflation Note: Table above excludes Tricom and Mobius where EBITDA was €51m and €3m respectively. 9 Altice SA Pro Forma Consolidated Capex €m 2012 2013 Growth Israel 295 209 (29%) Dominican Republic - Orange 73 59 (20%) French Overseas Territories 36 36 1% Portugal 31 24 (22%) Benelux 17 23 35% Other 19 22 18% Total International 471 373 (21%) France 286 320 12% Total 757 693 (8%) France capex up mainly due to ongoing rollout of Docsis 3.0 and launch of La Box Israel capex down following heavy investment in 2012 on UMTS network, STBs etc ODO capex down due to reduced mobile network expenditure Note: Table above excludes Tricom and Mobius. 10 France KPIs 2012 2013 Growth Cable Customers (‘000) 1,228 1,264 3% Cable RGUs (‘000) 3,094 3,218 4% Cable RGUs per Customer (x) 2.52 2.55 1% Cable Triple-play Penetration 79% 82% 3% pts B2C Revenue €833m €869m 4% Cable ARPU per Customer €40.70 €41.50 2% Cable customers grew due to success of La Box and superfast broadband Successful focus on triple-play packages including La Box and superfast broadband 11 France Financials Wholesale 1,300 1,314 201 B2B 211 B2C Revenues 325 313 (€m) 833 869 2012 2013 EBITDA Margin 47.8% 46.9% 622 616 EBITDA (€m) 2012 2013 Operating (12)% Free Cash 336 296 Flow (€m) 2012 2013 Note: Revenue chart above does not break out intercompany elimination of €69m in both 2012 and 2013 12 Israel KPIs 2012 2013 Growth Cable Customers (‘000) 1,198 1,127 (6)% Cable RGUs (‘000) 2,343 2,295 (2)% Cable RGUs per Customer (x) 1.96 2.04 4% Cable Triple-play Penetration 34% 40% 6pp Cable Revenue €678m €699m 3% Cable ARPU per Customer (€) €44.40 €47.60 7% iDEN Subs ('000) 325 218 (33)% UMTS Subs ('000) 441 592 34% Total Subs (‘000) 766 810 6% Mobile Mobile Revenue €173m €190m 10% Coverage UMTS Israel 41% 61% 20pp 13 Israel Mobile - UMTS subscriber growth outweighs iDEN decline Subscribers (‘000) Revenue (NISm) 235 232 223 227 231 810 766 758 761 773 592 116 132 153 514 539 136 142 441 482 325 119 100 276 87 85 78 247 234 218 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 iDEN UMTS Total iDEN UMTS ARPU (NIS) Minutes of Use (per month/subs.) 590 555 577 578 102 529 98 100 100 99 82 81 78 88 81 76 74 71 71 70 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 iDEN UMTS Total 14 Israel Financials (Local currency) Cable 4,213 4,228 Mobile 855 913 Revenue (ILSm) 3,362 3,353 2012 2013 EBITDA Margin 35.9% 41.2% 1,741 1,511 EBITDA (ILSm) 2012 2013 739 Operating Free Cash Flow (ILSm) 49 2012 2013 Note: Total revenue above is after intercompany revenue deduction of ILS 38m in 2013 Average Foreign Exchange Rates: 2012: ILS / Euro = 4.955, 2013: ILS / Euro = 4.794 15 French Overseas Territories KPIs 2012 2013