As part of an ongoing dispute with the tax administration, the National Financial Prosecutor's Office (PNF) is looking into the VAT rates applied to certain promotional offers marketed by Orange mainly between 2017 and 2019. The Group firmly contests the measures taken to recover additional tax payments and the alleged infractions levied against it. 

In this context, on 7 October 2024, the authority ordered the seizure of 312 million euros. This amount has been deposited with the French public financial institution Caisse des dépôts et consignations and will remain unavailable to Orange during the procedure. These amounts will be recorded in a specific account on Orange's balance sheet and will appear as such in its financial statements as of 31 December 2024. This seizure does not call into question the Group's financial guidance.

Orange appealed this seizure. Given that the Group contests all additional payments linked to this tax readjustment, this procedure does not change the assessment of risk described in the Group’s 2023 Universal Registration Document (URD).

Neither Orange's financial situation nor its reputation justifies such a measure. Orange is one of the leading telecommunications operators in the world with, as of 30 June 2024, a consolidated total balance sheet of 104.4 billion euros, and a cash position of 17.4 billion euros for telecom activities. In addition, Orange is listed on the Euronext Paris stock exchange (symbol: ORA) and the French state holds 22.95% of its share capital.

Independently, during this preliminary investigation phase, Orange is fully cooperating with the PNF to determine the documentary scope of the investigations.

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About Orange

About Orange Orange is one of the world’s leading telecommunications operators. The Group aims to be the trusted partner for everyday digital life by providing individuals, businesses and communities with reliable connectivity and innovative services. As of the end of 2025, Orange connects 340 million customers (including MasOrange) across 26 countries and generated 40.4 billion euros in revenues.
As a trusted player, Orange leverages the excellence of its very high-speed broadband networks to deploy digital infrastructure in Europe, Africa and the Middle East. The Group is a European leader in fiber, with 100 million connectable households, and convergent offers. In France, Orange connects 34 million customers and was ranked No. 1 by the regulator Arcep for the quality of its mobile network for the 15th consecutive year. In Africa and the Middle East, the Group’s growth engine, Orange serves nearly 180 million customers and promotes digital and financial inclusion through its connected solutions.
Under the Orange Business brand, the Group supports companies in transforming their networks as well as in AI, trusted cloud and cybersecurity. Orange is also a major player in the wholesale market, where it has a leading global telecom infrastructure and significant capabilities for deploying and operating submarine cables. A committed innovator, Orange relies on 700 researchers and holds a portfolio of 11,000 patents.
Orange is listed on Euronext Paris (symbol ORA). More information: www.orange.com.

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