ORANGE : sets up Long-Term Incentive Plan for corporate officers

press release
Paris, 15 December 2014

Orange sets up Long-Term Incentive Plan for corporate officers

Orange's Board of Directors has decided to modify the remuneration packages of the Chairman & Chief Executive Officer and the CEO Delegate as from 1 January 2015 in order to include a pluriannual, performance-based variable remuneration plan (long-term incentive plan or LTIP). Through the LTIP, part of corporate officers' pay will be based on long-term performance calculated over three-year periods. This is not possible under the current set-up, which is made up of fixed and variable amounts paid on an annual basis.

This change reflects the Group's upcoming strategic project.

The Board of Directors has made this decision with the aim of satisfying three main criteria:

• to provide stability in the overall annual maximum compensation, in line with the current level,
• to transfer part of officer's remuneration to a long-term plan, while decreasing part of the short-term component (annual incentive pay),
• to base this long-term pay on the following criteria: Total Shareholder Return (TSR), the evolution of the Group's market share value and the achievement of objectives that will be set-out in the upcoming strategic project.

about Orange
Orange is one of the world's leading telecommunications operators with sales of 41 billion euros in 2013 and has 159,000 employees worldwide at September 30, 2014, including 99,800 employees in France. Present in 30 countries, the Group served 240 million customers worldwide as of 30 September 2014, including 182 million mobile customers and 16 million broadband internet customers. Under the Orange Business Services brand, Orange is also one of the world leaders in providing telecommunication services to multinational companies.

Orange is listed on NYSE Euronext Paris (ORA) and on the New York Stock Exchange (ORAN).
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Press contacts: +33 1 44 44 93 93
Sébastien Audra, sebastien.audra@orange.com:
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Olivier Emberger, olivier.emberger@orange.com:
mailto:olivier.emberger@orange.com