Proximus Sa · EURONEXT:PROX
Proximus Sa — Investor Presentation (October 2026)
38 slides from Proximus Sa's investor presentation, October 2026
Slide 1: Company presentation
Company presentation October 2026
Slide 2: Disclaimer
Disclaimer 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 statem
Slide 3: Content
Content Proximus Group investment case Introduction to Proximus Group Achievements & strategy in the markets we operate in Financial outlook & capital allocation Sustainability 3
Slide 4: Proximus Group operates through distinct segments in the Domestic and Global markets
Proximus Group operates through 2 distinct segments in the Domestic and Global markets Domestic Benelux focus c. 1.7B€ c. 0.17B€ FY25 EBITDA FY25 EBITDA B2C B2B Wholesale Luxembourg Active in several markets with different dynamics and growth Owning Belgium’s leading telecom infrastructure assets: 9
Slide 5: Proximus Group investment case
Proximus Group investment case Robust Domestic Telecom & IT activities Global digital communications ✓ Addressing full-value chain with Clear path towards unique blend of strengths c.400M€ FCF by ✓ We own the leading telecom ✓ Strong customer growth 2030, largely driven • Connect networks in Belgium
Slide 6: Introduction to Proximus Group
Introduction to Proximus Group 6
Slide 7: Proximus Group key figures - FY 2025
Proximus Group key figures - FY 2025 Group underlying revenue Group underlying EBITDA Proximus is listed on the Brussels Euronext stock exchange: Business Wholesale 1.9B€ - In the BEL MID Index - In the BEL ESG Index 31% 4% 1,944 Organic Free Cash Flow 1 244 130M€ 2.3B€ Market Capitalization (31/12/
Slide 8: Proximus Board of Directors composed of highly qualified and diversely skilled leaders
Proximus Board of Directors composed of highly qualified and diversly skilled leaders 14 Board members 50% independent Stijn Bijnens Cécile Coune Emmanuèle Attout Caroline Basyn Martin De Prycker CEO Chairwoman Independent director Independent director Independent director 6 women / 8 men Board memb
Slide 9: Management team with extensive expertise in Telco, IT & digital communication solutions
Management team with extensive expertise in Telco, IT & digital communication solutions Stijn Bijnens CEO Seckin Arikan Proximus Group CEO Proximus Global Jan Geert Fiona Lam Donatienne Ben Renaud Jim Jeroen Van Acoleyen Standaert Chief Financial Goemans Appel Tilmans Casteele Verbruggen Chief Human
Slide 10: Achievements & strategy in the markets we operate in
Achievements & strategy in the markets we operate in 10
Slide 11: Both of our segments have a tailored strategy to address the main priorities
Both of our segments have a tailored strategy to address the main priorities Global Domestic Sustain telco leadership and profitably 1 grow IT through the best network, products and services Leverage on Global’s strengths & scale to foster growth: Deliver nationwide gigabit access, through 2 a combi
Slide 12: The Domestic segment retains a leading position
1 The Domestic segment retains a leading position. Strong brands1 #1 market positions1 NPS in B2C Market shares (volume share; end ‘25 vs ‘22) 18 convergent 46 20 44% +0.5 pp vs ‘22 Internet NPS in B2B 41% +1.6 pp vs ‘22 TV SME -1 20 43% -0.3 pp vs ‘22 Mobile Postpaid2 Proximus Group | Company Prese
Slide 13: Sustained strong Domestic commercial performance, supporting solid growth in service revenue and EBITDA
Sustained strong Domestic commercial performance, 1 supporting solid growth in service revenue and EBITDA Strong customer growth on key products... …drove solid domestic financial results2 # subscriptions (‘000) (In M€) +2.3% +2.0% +1.5% +0.8% +3.8% +3.6% +0.4% 3,510 3,644 3,776 3,791 2,216 2,267 2,
Slide 14: In the B2C market, we are a national mobile leader, and growing challenger for fixed internet
In the B2C market, we are a national mobile leader, and 1 growing challenger for fixed internet in Flanders Belgium PROXIMUS Brands • Leader in North for Fixed • Cable network player in North & 2/3 of Brussels Flanders • Launched Fixed via wholesale in the South Brussels c.11.9 M • National player i
Slide 15: We have 3 successful brands in the B2C market
We have 3 successful brands in the B2C market, addressing all 1 segments, allowing us to maximize value Trusted Digital No-frills premium challenger value Residential Services revenue mix (value, 2025) Proximus Group | Company Presentation 15
Slide 16: In the B2B market, Proximus Group holds a solid position in telco and specific IT domains
1 In the B2B market, Proximus Group holds a solid position in telco and specific IT domains Main telco Belgium competitors • Maintains solid position in telco market Niche players Global players • Belgian market leader for fixed as well as mobile, for both SME & Corporate customers Main IT competito
Slide 17: We offer telco and IT solutions to business customers ranging from SME to large corporations
We offer telco and IT solutions to business customers ranging 1 from SME to large corporations 2 brands Addressing the business market For SME Large corporations & public sector 1,576 • Cloud 1,576 • Cybersecurity IT • Smart Networking • Workplace SME >440k • Data & AI customers >1.8k • Internet Tel
Slide 18: The quality of our nation-wide fixed and mobile networks provides a strong foundation
The quality of our nation-wide fixed and mobile networks 2 provides a strong foundation for our success Fixed network Mobile network >99% of Belgian population has access to a >93% of 5G indoor coverage, targeting 99% wired Proximus connection indoor coverage by end ‘27 Belgium’s 2.75M or > 43% of t
Slide 19: We own Belgium's largest Fiber footprint, and complement it through network agreements
We own Belgium’s largest Fiber footprint, and complement it 2 by Fiber and Gigabit access through network agreements Dense areas Flanders 30% Towards Gigabit c. 2.2M premises in total access, FWA, … access for all our HFC Proximus Fiber for all customers (>90% done) Fiber overbuild area 60% Proximus
Slide 20: Proximus' fiber rollout is well advanced, targeting ~60% by 2030
2 Proximus’ fiber rollout is well advanced with c. 2.75M HP or >43% coverage, targeting ~60% by 2030. Proximus fiber roll-out to be nearly completed by 2030 (past & expected Homes Passed roll-out in incremental M living units) 500k >43% ~60% FttH/FttB FttH/FttB coverage coverage 400k % completed of
Slide 21: Our Domestic EBITDA is supported by a 180M€ efficiencies target, enabled by AI
3 Our Domestic EBITDA is supported by a 180M€ efficiencies target, enabled by AI 3-year gross Efficiently lowering headcount by 1,200 FTEs by efficiency target (€M) 2030, benefitting from increased retirements # retirements of internal FTE per year, Proximus SA 1 in 3 leavers replaced c. 180M€ in no
Slide 22: Proximus Global focusses on returning back to EBITDA growth and creating optionality
Proximus Global focusses on returning back to EBITDA growth and creating optionality for future value creation Domestic Global Sustain telco leadership and profitably 1 grow IT through the best network, products and services Leverage on Global’s strengths & scale to foster growth: Deliver nationwide
Slide 23: Global encompasses the entire value chain of digital communications
Global encompasses the entire value chain of digital communications #1 interoperability service provider, connecting people and businesses globally through telco partnerships and market-leading solutions Enabling voice calls and SMS sending across the world; Roaming for MNOs/MVNOs, global IoT for en
Slide 24: Proximus Global is active in several markets with different dynamics and growth profiles
Proximus Global is active in several markets presenting very different dynamics and growth profiles Connect Engage Protect P2P voice & msg. Data roaming A2P SMS Omnichannel Digital Identity Enable people to send Allow people to use Enable enterprises to interact with their Provide enterprises and re
Slide 25: Global's strategy aims for a return to EBITDA growth in 2027
Global's strategy tackles its challenges and aims for a return to EBITDA growth in 2027 Connect Engage Protect Global P2P voice & Data roaming A2P SMS Omnichannel Digital Identity msg. We are We are We are strengthening our shifting from SMS to combining Bring Global back to growth leadership in Tel
Slide 26: Concrete initial steps taken in the transformation journey of Proximus Global
Concrete initial steps taken in the transformation journey of Proximus Global Dividend 1 2 3 policy Transformation on track Improving go-to-market Investment in AI • 2026 integration commitments on • Product and region-specific go-to- • New dedicated AI-focused unit to track. market and sales: drive
Slide 27: Financial outlook & capital allocation
Financial outlook & capital allocation 27
Slide 28: Lower capex after the 2027-peak will significantly improve FCF, targeting 400M€ by 2030
As our fiber rollout gradually nears completion, lower capex after the 2027-peak will significantly improve FCF, targeting 400M€ by 2030. Group CapEx (M€) 1 Organic FCF (M€) Fiber build 1.200 Further upside 27% Customer 1.000 c. 400M€ potential beyond 2030 capex Mobile ✓ Substantial increase in Othe
Slide 29: Our dividend policy is aligned close to expected organic FCF
Our dividend policy is aligned close to expected organic FCF, ensuring a sound balance sheet & enabling room for value accretive business initiatives Dividend/share & dividend yield 1 In €c/share, accounting view 50 40 107 8.3% 30 6.6% 5.0% Dividend distribution policy (annual instalments) • 30cts/s
Slide 30: The Net debt/EBITDA ratio is expected to remain below 3.0x over 2026-2028
The Net debt/EBITDA ratio is expected to remain below 3.0x over the 2026-2028 period Gross debt of 5.02B€ Net debt / EBITDA (S&P definition1) Net debt of 4.55B€ end June ’26) Add graph illustrating leverage framework Strong liquidity position of > 1.1B€ 3.0X (M€, end-June ‘26) 107 700 1,141 441 2.5X
Slide 31: Debt portfolio: first maturity in 2028, all debt IG rated and 99% fixed coupon
Debt portfolio: first maturity in 2028, all debt IG rated and 99% fixed coupon Debt by type Fixed vs. floating Debt maturity profile (M€)* 800 8.1% 1% 750 750 750 14.1% 700 0.2% 550 500 77.6% 99% 150 Hybrid bonds EIB loan Fixed Floating Eurobonds Yen PP 11 ’26 ’27 ’28 ’29 ’30 ’31 ’32 ’33 ’34 ’35 ’36
Slide 32: Sustainability
Sustainability Our contribution to the environment and society 32 PDF: Annual Report 2025
Slide 33: Our societal ambitions are embedded in our purpose
Our societal ambitions are embedded in our purpose Boldly building a connected world that people trust so society blooms Always-on Building trust in Environment connectivity Ambition: be Net Zero by for all digital society 2040 across our value chain Refers to cybersecurity, Our responsibility to pr
Slide 34: Proximus contributes to a safe & secure digital world
Trust Proximus contributes to a safe & secure digital world Safeguarding own operations, networks, Helping customers secure their operations and services > 350 certified experts across the Benelux > € 10 million invested in Corporate Cybersecurity Program in 2025 2 strategic deals signed in 2025 rei
Slide 35: By 2040, Proximus aims to achieve net-zero emissions across its value chain
Environment By 2040, Proximus aims to achieve net-zero emissions across its value chain Targets vs 2020 baseline -66% scope 1&2 by 2030 -42% scope 3 by 2030 -90% scope 1,2&3 by 2040 Proximus Group CO2 footprint in 2025 Proximus Group | Company Presentation 35
Slide 36: Climate Transition Plan: main levers for decarbonization across 6 domains
Environment Climate Transition Plan: the main levers for decarbonization are operationalized across 6 domains Scope 1&2 Scope 3 Purchased Goods/Services & Capital Goods 2030 2040 Fuel & energy related 27,6 -66% target -90% target 26,6 26,3 25,7 2030 Use of leased CPEs 2040 -42% target Other Scope 3
Slide 37: Proximus invests in the long-term employability of its workforce
Workforce Proximus invests in the long-term employability of its workforce Almost 8 out of 10 vacancies filled thanks to internal mobility 90% of Proximus employees attended ≥ 5 training days Employee engagement 76% Proximus Group | Company Presentation 37
Slide 38: For further information
For further information • Most recent results publications: Quarterly results | Proximus Group • Unifiber takeover: Unifiber takeover • 2026 CMD: CMD 2026 | Proximus Group • 2025 Annual report: Annual reports | Proximus Group • ESG: ESG achievements - Environmental, social and corporate governance |
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