Press release: Orange intends to issue a new series of Euro-denominated hybrid notes and to launch a tender offer on some of its outstanding hybrid notes

Orange announced its intention to issue new Euro-denominated undated 7-year non-call deeply subordinated hybrid notes and launch a tender offer to repurchase approximately €850 million of outstanding hybrid notes maturing in 2026 and 2027. The move aims to proactively manage Orange's hybrid portfolio ahead of upcoming reset dates.