Orange S.A. (ENXTPA:ORA) commences share repurchases on June 21, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 22, 2024. As per the mandate, the company is authorized to repurchase 265,561,359 shares, representing 10% of its issued share capital, for a total of ?6,384.14 million. The company will not repurchase more than 10% of its issued share capital at any given point in time.

The maximum price which may be paid for an ordinary share shall not exceed ?24 per share. The purpose of the buyback is to allocate shares to the employees of the company, its affiliates and its group entities as part of the company?s profit sharing scheme, any stock purchase or stock option plan or program, including any free share awards, for the benefit of the employees and directors and officers or some of them, or any of the group?s employee shareholding plan and/or to provide liquidity to the shares and/or to keep shares for subsequent exchange or for payment as part of potential external growth transactions and/or to reduce the capital of the company. The authority shall be valid for 18 months.

As of May 22, 2024, the company had 2,660,056,599 issued shares and 119,200 shares in treasury.