Investor Presentaiton

Q1 2021 Free Cash Flow (€m) 939 (581) 358 24 Adjusted EBITDA (Pro Forma) Accrued Capex (Pro Forma) 382 (328) (15) (306) (268) OpFCF (Pro Forma) Hivory OpFCF OpFCF Interest Taxes Change in WC & other FCF 1. c. €90 million full year network tax (IFER) recognized in Q1 2021 operating costs, and consequently reflected in adjusted EBITDA as shown (c.€80 million IFER tax recognized in Q1 2020) 2. Free Cash Flow as shown excludes spectrum (€118 million payment related to 5G spectrum made in Q1 2021) and excludes significant litigation paid and received For other footnotes see slide 14 6 a altice

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