Insider Dealing Policy‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌

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Version: 8 August 2016‌‌‌‌‌‌‌‌‌‌‌‌‌

INTRODUCTION‌

Insider dealing conflicts with the basic principle that everyone dealing on a stock exchange should simultaneously have access to the same information. Everyone involved with Altice is responsible for keeping Inside Information confidential. If a person has Inside Information, he should not Deal in Altice Securities.

This policy is intended to ensure that all Altice Persons comply with rules on insider dealing. It intends to limit the risk of Altice's good reputation and business integrity being harmed as a result of prohibited or undesirable dealing in Altice Securities. Failure to comply with the rules in this policy may lead to disciplinary or other actions and/or severe penalties as described in and referred to in clause 6 of this policy.

For questions relating to this policy, please contact the Compliance Officer.

TABLE OF CONTENTS‌ Page

INTRODUCTION 2

TABLE OF CONTENTS 3

  1. SCOPE AND DEFINITIONS 4

  2. RULES FOR ALL ALTICE PERSONS 4

  3. Inside Information 4

  4. No insider dealing 4

  5. No unlawful disclosure or tipping 4

  6. No Dealing during Closed Periods 4

  7. No Dealing in Altice Securities if on an incidental insider list 5

  8. No dealing in certain other listed companies 5

  9. Dispensation 5

  10. Consultation of the Compliance Officer 5

  11. ADDITIONAL RULES FOR PDMRS, INCLUDING MEMBERS OF THE BOARD 5

  12. Notifications by members of the Board 5

  13. Notifications by PDMRs other than members of the Board 6

  14. Other rules relating to notifications for PDMRs, including members of the Board ..6 4 INSIDER LIST 6

    1. COMPLIANCE OFFICER 8

    2. SANCTIONS 8

    3. MISCELLANEOUS 8

    4. Circumstances not covered by this policy 8

    5. Amendments 9

    6. Governing law 9

    7. ANNEX 1: DEFINITIONS 10

      ANNEX 2: NON-EXHAUSTIVE LIST OF TRANSACTIONS THAT MUST BE NOTIFIED BY PDMRS AND CLOSELY ASSOCIATED PERSONS WITH PDMRS 12

      1. SCOPE AND DEFINITIONS‌

      2. This policy applies to all persons working, under a contract of employment or otherwise, for Altice or any of its subsidiaries, including independent contractors (zelfstandigen zonder personeel), and members of the Board, other PDMRs and Designated Persons (together referred to in this policy as "Altice Persons"). As indicated in this policy, certain parts of this policy apply to a particular group of people within Altice only, such as members of the Board.

      3. Certain capitalised terms used in this policy have the meaning set out in Annex 1 (Definitions) to this policy. All references in the male form should be understood to also include the female form.

      4. RULES FOR ALL ALTICE PERSONS‌
      5. Inside Information‌

        Inside Information is a crucial term in this policy. In relation to Altice, Inside Information essentially refers to undisclosed information that could affect the trading price of Altice shares or other Altice Securities. Please see Annex 1 to this policy for its full legal definition.

      6. No insider dealing‌

      7. If an Altice Person possesses Inside Information, he may not use that information to Deal, or attempt to Deal, in Altice Securities. A cancellation or amendment of an order concerning Altice Securities is also considered Dealing.

      8. This prohibition does not apply if the Altice Person Deals in discharge of an obligation that has become due in good faith (and not to circumvent the insider dealing prohibition or for any other illegitimate reason) and where (a) the obligation results from an order placed or an agreement concluded, or (b) the transaction is carried out to satisfy a legal or regulatory obligation that arose, before the Altice Person concerned possessed Inside Information.

      9. No unlawful disclosure or tipping‌

      10. An Altice Person may not disclose Inside Information to anyone else, except where the disclosure is made strictly as part of the Altice Person's regular duty or function and the recipient of the Inside Information is under an obligation of confidentiality.

      11. An Altice Person may not whilst in the possession of Inside Information recommend or induce anyone to engage in Dealing in Altice Securities.

      12. No Dealing during Closed Periods‌

      13. PDMRs, including members of the Board, Designated Persons and other Altice Persons so instructed by the Compliance Officer may not Deal in Altice Securities during a Closed Period, regardless of whether they possesses Inside Information.

      14. The Closed Periods are:

      15. the periods starting at 12.00 am (CET) on the day that is 30 calendar days prior to the publication of Altice annual results and semi-annual results and ending at 12.00 am (CET) on the day following the publication of such results; and

      Altice SA published this content on 08 August 2016 and is solely responsible for the information contained herein.
      Distributed by Public, unedited and unaltered, on 08 August 2016 15:07:08 UTC.

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