Proximus Sa · EURONEXT:PROX
Proximus Sa — Investor Presentation (April 2026)
40 slides from Proximus Sa's investor presentation, April 2026
Slide 1: Company presentation April 2026
Company presentation April 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 1 Proximus Group investment case 2 Introduction to Proximus Group 3 Achievements & Strategy in the markets we operate in 4 4 Financial outlook & capital allocation 5 Sustainability 3
Slide 4: Proximus Group investment case
Proximus Group investment case ✓ Robust Domestic activities with strong brands and leading networks ✓ Fiber build behind peak and providing clear path towards significant FCF recovery by 2030 ✓ Ambition to bring Proximus Global back to growth, with optionality for future value creation ✓ Disciplined
Slide 5: Introduction to Proximus Group
Introduction to Proximus Group 5
Slide 6: Proximus Group Key Figures FY2025
Proximus Group Key Figures FY2025 Group underlying revenue Organic Free Cash Flow 1 Proximus is listed on the Brussels Euronext stock exchange: € 6,307M € 130M - - In the BEL MID Index In the BEL ESG Index Group underlying EBITDA CapEx2 € 2.3Bn Market Capitalization 1,883M 1,249M (31/12/2025) € € Pr
Slide 7: Proximus is an established company and the largest Telco in Belgium
Proximus is an established company and still today the largest Telco in Belgium 1930 1992 1994 2004 2008 2015 2017 2021 2022 2024 2025 Creation of RTT becomes Creation of Belgacom enters Multi-brand Belgacom Bics acquires Proximus Proximus acquires Acquisition of Creation of the RTT Belgacom Proximu
Slide 8: Management team
Management team Stijn Bijnens CEO Seckin Arikan Proximus Group CEO Proximus Global Jan Geert Nicolas Donatienne Ben Renaud Jim Jeroen Van Acoleyen Standaert Gaertner Goemans Appel Tilmans Casteele Verbruggen Group Human Capital Network Lead Group Finance Customer Group Corporate B2B Lead B2C and AI
Slide 9: Achievements & Strategy
Achievements & Strategy in the markets we operate in 9
Slide 10: Proximus Group operates through 2 distinct segments in 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 Leader in mature domestic telco market different dynamics and growth Challenger in grow
Slide 11: Each segment has its tailored strategy to address the main priorities
Each segment has its tailored strategy to address the main priorities Global Domestic Sustain telco leadership and profitably 1 grow IT through the best network, products and services Deliver nationwide Gigabit access, 2 Bring Global back to growth through a combination of own roll-out and partnersh
Slide 12: The three domestic tasks translated into a 5-year strategic plan: Amplify
The three domestic tasks to be accomplished have been translated into a 5-year strategic plan: Amplify Domestic Sustain telco leadership and profitably grow IT 1 through the best network, products and services Deliver nationwide Gigabit access, through a 2 combination of own roll-out and partnership
Slide 13: Domestic segment in great shape, maintaining its leading position
Our Domestic segment is in great shape, maintaining its leading position in an increasingly competitive market Leading networks Strong brands #1 market positions Fixed Solid NPS in B2C Market shares (volume share; end ‘25 vs ‘22) NPS by brand (FY‘25) c. 42% National fiber coverage (end ‘25) 44% 33%
Slide 14: Strong Domestic commercial performance in 2025
We sustained strong Domestic commercial performance in 2025, supporting solid growth in service revenue and EBITDA Strong customer growth on key products... …drove solid domestic financial results2 # subscriptions (‘000) (In M€) +3.8% +3.6% +0.4% +2.3% +2.0% +1.5% 3,510 3,644 3,776 3,791 Services 2,
Slide 15: Successful brands in the B2C market
We have 3 successful brands in the B2C market, addressing all segments in the consumer market, allowing us to maximize value Growing NPS scores across all brands Residential Services revenue mix (value, 2025) 18(RES 46 20 convergent) Trusted Digital No-frills premium challenger value Proximus Group
Slide 16: National mobile leader and challenger for Fixed Internet in Flanders
In the B2C market, we are a national mobile leader, and challenger for Fixed Internet in Flanders Belgium • Leader in North for Fixed PROXIMUS • Cable network player in North & 2/3 of Brussels Brands Flanders • Launched Fixed via wholesale in the South Brussels c.11.9 M • National player inhabitants
Slide 17: B2B market: Telco and IT solutions for business customers
In the B2B market we offer Telco and IT solutions to business customers ranging 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 >1.8
Slide 18: Solid position in Telco and specific IT domains in B2B
In the B2B market, Proximus Group holds a solid position in Telco and specific IT domains Main telco Belgium competitors Niche players Global players • Maintains solid position in Telco market. Main IT competitors (fragmented market) • Belgian market leader for fixed as well as mobile, for both SME
Slide 19: Robust Telco position in fixed and mobile connectivity
Our robust Telco position is supported by Proximus’ strong leadership in both fixed and mobile connectivity Fixed Mobile 176 2.6M Strategic partnerships #1 Cities and municipalities Fiber Homes & Download with Fiber works ongoing Businesses passed BCA assessment ongoing, speed following the market t
Slide 20: Scaling Fiber coverage drives revenue growth
Our scaling Fiber coverage drives revenue growth by attracting new customers, lowering churn, and raising average revenue per customer Fiber park Fiber share in Churn impact Fiber drives revenue growth (Active lines, residential + business, in ‘000) acquisition (residential, normalized) (residential
Slide 21: Gigabit collaboration for cross-network utilization in mid-dense and rural areas
Looking forward, we ambition a gigabit collaboration resulting in cross-network utilization in the mid-dense & rural areas Collaboration zone Dense Mid-dense Rural ~2.0M ~0.9M ~40% of fiber collaboration area or ~0.8M ~60% of fiber collaboration area or ~1,2M ~0.7M Flanders Network HFC or other Giga
Slide 22: Proximus targets ~60% fiber coverage by 2030
Proximus targets ~60% fiber coverage by 2030, and provide gigabit coverage to ~95% of its customers Proximus fiber roll-out nearly completed by 2030 % Fiber completion end 2025 (past & expected Homes Passed roll-out in incremental M living units; Proximus and affiliates/JVs) ~60% Dense >85% 500k 0,6
Slide 23: Efficiencies through simplification, AI and retirement opportunity
We drive efficiencies through simplification, enabled by AI and capitalizing on a meaningful retirement opportunity 3-year gross Workforce savings AI as key enabler, efficiency target (€M) levers example of projects • Intelligent fiber repair c. 180M€ Pxs SA 1 in 3 leavers replaced in assistant attr
Slide 24: Lowering headcount through reskilling and upskilling
We will lower headcount in a smart way by 2030 through reskilling and upskilling Controlled internal workforce reduction through Retirements forecast per year (# retirements of internal FTE per year, Proximus SA) partial replacement of natural outflow c. 1,400 Proximus SA internal FTE (in ‘000s) c.
Slide 25: Proximus Global jobs to be done
Proximus Global jobs to be done focus on returning back to growth and creating optionality for future value creation Domestic Global Sustain telco leadership and profitably 4 1 grow IT through the best network, products and services Deliver nationwide Gigabit access, through Bring Global back to gro
Slide 26: Proximus Global unites BICS, Telesign and Route Mobile
Proximus Global unites the strengths of BICS, Telesign and Route Mobile to elevate digital communications Number one interoperability service provider, with a network of networks Enabling voice calls and SMS sending across the world Top 5, at-scale leading innovator in Omnichannel solutions Allowing
Slide 27: Proximus Global active in markets with different dynamics
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 28: Market and internal challenges in 2025
In 2025, our markets were confronted with accelerated change while we were navigating internal complexities Market challenges Internal challenges SMS OTP decline Integration challenges • Heavy reliance on declining SMS OTP1 • Rushed transformation • Accelerated fight against Artificially • Complex o
Slide 29: Global's strategy aims for return to EBITDA growth in 2027
Global's strategy tackles its challenges, aiming 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 Telc
Slide 30: Financial outlook & capital allocation
Financial outlook & capital allocation 30
Slide 31: Two-stage growth path with c. 400M€ organic FCF by 2030
With the 2 segments combined, the Group embarks on a two- stage growth path with c. 400M€ organic FCF by 2030, and further upside potential by 2035 CapEx1 2nd phase of FCF growth c. 1.25B€ Substantial increase in retirements post ‘30 c. 1.2B€ Customer CapEx drops significantly <1B€ Copper phase-out
Slide 32: Dividend policy aligned with expected FCF
Dividend policy aligned with expected FCF, ensuring sound balance sheet and room for value accretive business initiatives Dividend / share in €/share, accounting view New Dividend distribution policy (annual instalments) • 30 cts /share paid in Dec ’25 • 30 cts /share payable in April ’26 • 30cts/sh
Slide 33: Sustainability
Sustainability Our contribution to the environment and society 33 PDF: Annual Report 2025
Slide 34: Societal ambitions 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 Environment connectivity trust in for all digital society Maintain ambition to be Net Zero by 2040 across our value chain Refers to cybersecurity, Our responsib
Slide 35: Gigabit coverage for everyone by 2035
Connectivity Proximus aims to achieve gigabit coverage for everyone by 2035 #1 Mobile & Fiber c. 60% Own fiber coverage by 2030 c. 95% Gigabit coverage by 2030 c. 99% 5G indoor coverage by 2027 Proximus recognized as fastest and most stable fixed Internet in Belgium and fastest mobile network Proxim
Slide 36: 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 37: Net-zero emissions across value chain by 2040
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 37
Slide 38: Climate Transition Plan: levers for decarbonization
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 39: Proximus invests in 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 39
Slide 40: For further information
For further information 2026 CMD: Ad hoc | Proximus Group • Most recent results publications: Quarterly results | Proximus Group • 2025 Annual report: Annual reports | Proximus Group • BICS: www.BICS.com • Telesign: www.telesign.com • Route Mobile: www.routemobile.com • ESG: ESG achievements - Envir