Interim report
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This document is a translation of the official quarterly financial report that was issued in Polish. ORANGEPL QSr 3/2026 Polish Financial Supervision Authority 1 ☐ - adjusted POLISH FINANCIAL SUPERVISION AUTHORITY Quarterly consolidated report for the third quarter of 2026 (year) (according to § 61 section 2 and § 63 section 1 of the Regulation on current and periodic information) for the issuers in sectors of production, construction, trade or services (type of issuer) for the third quarter of 2026, i.e. from 1 January 2026 to 30 September 2026 including condensed consolidated financial statements prepared under: International Financial Reporting Standards in currency: PLN and condensed financial statements prepared under: International Financial Reporting Standards in currency: PLN date of issuance: 26 October 2026 ORANGE POLSKA S.A. (full name of issuer) ORANGEPL Telecommunication (tel) (abbreviated name of the issuer) (classification according to WSE/sector) 02-326 Warsaw (post code) (location) Al. Jerozolimskie 160 (street) (number) (telephone) (fax) investors.orangepolska@orange.com www.orange.pl (e-mail) (www) 526-02-50-995 012100784 (NIP) (REGON) KPMG Audyt Sp. z o.o. Sp. komandytowa (auditor) Legal Entity Identifier (LEI) assigned to the legal entity to which the information relates Size of the legal entity to which the information relates The industry sector(s), in which the natural or legal person to whom the information relates carries out business activities 259400TOMPUOLS65II22 Large Group (according to NACE): K 259400TOMPUOLS65II22 Large Entity (according to NACE): K
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ORANGEPL QSr 3/2026 Polish Financial Supervision Authority 2 PLN ‘000 EUR ‘000 SELECTED FINANCIAL DATA 3 quarter cumulative 3 quarter cumulative 3 quarter cumulative 3 quarter cumulative period from 01/01/2026 period from 01/01/2025 period from 01/01/2026 period from 01/01/2025 to 30/09/2026 to 30/09/2025 to 30/09/2026 to 30/09/2025 condensed consolidated financial statements data I. Revenue 10,275,000 9,640,000 2,400,701 2,275,463 II. Operating income 1,394,000 1,103,000 325,701 260,356 III. Profit before income tax 1,096,000 841,000 256,075 198,513 IV. Net income 904,000 693,000 211,215 163,578 V. Net income attributable to owners of Orange Polska S.A. 904,000 693,000 211,215 163,578 VI. Earnings per share (in PLN/EUR) (basic and diluted) 0.69 0.53 0.16 0.13 VII. Weighted average number of shares (in millions) 1,312 1,312 1,312 1,312 VIII. Total comprehensive income 1,009,000 553,000 235,748 130,532 IX. Total comprehensive income attributable to owners of Orange Polska S.A. 1,009,000 553,000 235,748 130,532 X. Net cash provided by operating activities 2,645,000 2,670,000 617,991 630,237 XI. Net cash used in investing activities (1,809,000) (2,104,000) (422,664) (496,636) XII. Net cash used in financing activities (1,185,000) (495,000) (276,869) (116,842) XIII. Net change in cash and cash equivalents (349,000) 71,000 (81,542) 16,759 balance as at balance as at balance as at balance as at 30/09/2026 31/12/2025 30/09/2026 31/12/2025 XIV. Total current assets 3,676,000 3,832,000 841,729 906,617 XV. Total non-current assets 22,775,000 23,176,000 5,215,012 5,483,238 XVI. Total assets 26,451,000 27,008,000 6,056,741 6,389,855 XVII. Total current liabilities 4,448,000 7,521,000 1,018,502 1,779,403 XVIII. Total non-current liabilities 8,268,000 5,961,000 1,893,203 1,410,320 XIX. Total equity 13,735,000 13,526,000 3,145,036 3,200,132 XX. Equity attributable to owners of Orange Polska S.A. 13,733,000 13,524,000 3,144,578 3,199,659 XXI. Share capital 3,937,000 3,937,000 901,493 931,460 condensed separate financial statements data 3 quarter cumulative 3 quarter cumulative 3 quarter cumulative 3 quarter cumulative period from 01/01/2026 period from 01/01/2025 period from 01/01/2026 period from 01/01/2025 to 30/09/2026 to 30/09/2025 to 30/09/2026 to 30/09/2025 I. Revenue 8,995,000 8,500,000 2,101,636 2,006,373 II. Operating income 1,416,000 1,099,000 330,841 259,412 III. Profit before income tax 1,197,000 908,000 279,673 214,328 IV. Net income 1,005,000 750,000 234,813 177,033 V. Earnings per share (in PLN/EUR) (basic and diluted) 0.77 0.57 0.18 0.13 VI. Weighted average number of shares (in millions) 1,312 1,312 1,312 1,312 VII. Total comprehensive income 1,043,000 676,000 243,692 159,566 VIII. Net cash provided by operating activities 2,600,000 2,664,000 607,476 628,821 IX. Net cash used in investing activities (1,842,000) (2,109,000) (430,374) (497,817) X. Net cash used in financing activities (1,111,000) (484,000) (259,579) (114,245) XI. Net change in cash and cash equivalents (353,000) 71,000 (82,477) 16,759 balance as at balance as at balance as at balance as at 30/09/2026 31/12/2025 30/09/2026 31/12/2025 XII. Total current assets 3,208,000 3,265,000 734,567 772,470 XIII. Total non-current assets 22,436,000 22,747,000 5,137,388 5,381,740 XIV. Total assets 25,644,000 26,012,000 5,871,955 6,154,210 XV. Total current liabilities 4,348,000 7,298,000 995,604 1,726,642 XVI. Total non-current liabilities 8,206,000 5,867,000 1,879,007 1,388,081 XVII. Total equity 13,090,000 12,847,000 2,997,344 3,039,487 XVIII. Share capital 3,937,000 3,937,000 901,493 931,460
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Translation of the financial statements originally issued in Polish 26 October 2026 ORANGE POLSKA GROUP CONDENSED IFRS QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS FOR THE 3 AND 9 MONTHS ENDED 30 SEPTEMBER 2026
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Orange Polska Group Condensed IFRS Quarterly Consolidated Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 2 Contents CONSOLIDATED INCOME STATEMENT 3 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 3 CONSOLIDATED STATEMENT OF FINANCIAL POSITION 4 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 5 CONSOLIDATED STATEMENT OF CASH FLOWS 6 NOTES TO THE CONDENSED IFRS QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS 7 1. The Orange Polska Group 7 2. Segment information and performance measures 7 3. Statement of compliance and basis of preparation 10 4. Statement of accounting policies 11 5. Revenue 11 6. Explanatory comments about the seasonality or cyclicality of quarterly Group operations 12 7. Items affecting assets, liabilities, equity, net income or cash flows that are unusual because of their nature, size or incidence 12 8. Net financial debt 14 9. Fair value of financial instruments 14 10. Dividend 15 11. Changes in major litigation, claims and contingent liabilities since the end of the last annual reporting period 15 12. Related party transactions 16 13. Subsequent events 18
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Orange Polska Group Condensed IFRS Quarterly Consolidated Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 3 CONSOLIDATED INCOME STATEMENT (in PLN millions, except for earnings per share) 3 months 9 months 3 months 9 months Note ended 30 September 2026 ended 30 September 2025 Revenue 5 3,592 10,275 3,329 9,640 External purchases (2,127) (6,002) (1,950) (5,640) Labour expense (369) (1,178) (362) (1,169) Other operating expense (113) (350) (123) (393) Other operating income 234 674 190 670 Impairment of receivables and contract assets 7 (22) (40) (26) (99) Gain on disposal of Orange Energia - - (11) 60 Gains on disposal of fixed assets 13 95 23 42 Depreciation and impairment of right-of-use assets (148) (444) (143) (423) Depreciation, amortisation and impairment of property, plant and equipment and intangible assets 7 (528) (1,604) (541) (1,572) Share of loss of joint venture (10) (32) (15) (13) Operating income 522 1,394 371 1,103 Interest income 18 56 23 68 Interest expense on lease liabilities (36) (107) (36) (110) Other interest expense and financial charges (63) (154) (57) (161) Discounting expense (30) (80) (24) (62) Foreign exchange gains/(losses) (8) (13) - 3 Finance costs, net (119) (298) (94) (262) Income tax (75) (192) (49) (148) Net income 328 904 228 693 Net income attributable to owners of Orange Polska S.A. 328 904 228 693 Net income attributable to non-controlling interests - - - - Earnings per share (in PLN) (basic and diluted) 0.25 0.69 0.17 0.53 Weighted average number of shares (in millions) 1,312 1,312 1,312 1,312 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (in PLN millions) 3 months 9 months 3 months 9 months ended 30 September 2026 ended 30 September 2025 Net income 328 904 228 693 Items that may be reclassified subsequently to profit or loss Gains/(losses) on cash flow hedges 67 50 (15) (94) Gains/(losses) on receivables at fair value through other comprehensive income (3) (3) (3) 3 Income tax relating to items that may be reclassified (12) (9) 3 17 Share of other comprehensive income/(loss) of joint venture, net of tax 60 67 (7) (66) Other comprehensive income/(loss), net of tax 112 105 (22) (140) Total comprehensive income 440 1,009 206 553 Total comprehensive income attributable to owners of Orange Polska S.A. 440 1,009 206 553 Total comprehensive income attributable to non-controlling interests - - - -
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Orange Polska Group Condensed IFRS Quarterly Consolidated Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 4 CONSOLIDATED STATEMENT OF FINANCIAL POSITION (in PLN millions) At 30 September At 31 December Note 2026 2025 ASSETS Goodwill 2,352 2,352 Other intangible assets 4,490 4,799 Property, plant and equipment 7 10,201 10,470 Right-of-use assets 2,777 2,863 Investment in joint venture 7 1,173 1,121 Loans to joint venture 7 233 - Trade receivables 9 646 645 Contract assets 143 125 Contract costs 258 251 Derivatives 8,9 177 129 Other assets 9 136 93 Deferred tax assets 189 328 Total non-current assets 22,775 23,176 Inventories 320 213 Trade receivables 9 1,988 1,905 Contract assets 120 103 Contract costs 485 492 Derivatives 8,9 11 34 Other assets 7,9 434 433 Prepaid expenses 148 134 Cash and cash equivalents 170 518 Total current assets 3,676 3,832 TOTAL ASSETS 26,451 27,008 EQUITY AND LIABILITIES Share capital 3,937 3,937 Share premium 832 832 Other reserves 95 (8) Retained earnings 8,869 8,763 Equity attributable to owners of Orange Polska S.A. 13,733 13,524 Non-controlling interests 2 2 Total equity 13,735 13,526 Trade payables 126 144 Lease liabilities 2,254 2,303 Loans from related parties 8,12 4,264 1,550 Other financial liabilities at amortised cost 8 37 70 Derivatives 8,9 - 14 Provisions 11 743 1,017 Contract liabilities 749 764 Employee benefits 68 70 Other liabilities 27 29 Total non-current liabilities 8,268 5,961 Trade payables 2,005 2,343 Lease liabilities 713 694 Loans from related parties 8,12 88 2,713 Other financial liabilities at amortised cost 8 38 39 Derivatives 8,9 1 14 Provisions 11 280 283 Contract liabilities 691 735 Employee benefits 214 226 Income tax liabilities 24 78 Other liabilities 394 396 Total current liabilities 4,448 7,521 TOTAL EQUITY AND LIABILITIES 26,451 27,008
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Orange Polska Group Condensed IFRS Quarterly Consolidated Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 5 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (in PLN millions) Share Share Other reserves Retained Equity Non- Total equity capital premium earnings attributable controlling to owners interests of OPL S.A. Cash flow Actuarial losses Losses on Deferred tax Share of hedge reserve on post- receivables at fair other reserves employment value through other of joint venture benefits comprehensive income Balance at 1 January 2026 3,937 832 91 (60) (9) (4) (26) 8,763 13,524 2 13,526 Net income - - - - - - - 904 904 - 904 Other comprehensive income - - 50 - (3) (9) 67 - 105 - 105 Total comprehensive income for the 9 months ended 30 September 2026 - - 50 - (3) (9) 67 904 1,009 - 1,009 Dividend (transactions with the owners) - - - - - - - (801) (801) - (801) Share-based payments (transactions with the owner) - - - - - - - 3 3 - 3 Hedging gains transferred to inventories - - (2) - - - - - (2) - (2) Balance at 30 September 2026 3,937 832 139 (60) (12) (13) 41 8,869 13,733 2 13,735 Balance at 1 January 2025 3,937 832 216 (60) (13) (27) 60 8,694 13,639 2 13,641 Net income - - - - - - - 693 693 - 693 Other comprehensive loss - - (94) - 3 17 (66) - (140) - (140) Total comprehensive income for the 9 months ended 30 September 2025 - - (94) - 3 17 (66) 693 553 - 553 Dividend (transactions with the owners) - - - - - - - (696) (696) - (696) Share-based payments (transactions with the owner) - - - - - - - 2 2 - 2 Hedging losses transferred to inventories - - 5 - - (1) - - 4 - 4 Balance at 30 September 2025 3,937 832 127 (60) (10) (11) (6) 8,693 13,502 2 13,504
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Orange Polska Group Condensed IFRS Quarterly Consolidated Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 6 CONSOLIDATED STATEMENT OF CASH FLOWS (in PLN millions) 3 months 9 months 3 months 9 months Note ended 30 September 2026 ended 30 September 2025 OPERATING ACTIVITIES Net income 328 904 228 693 Adjustments to reconcile net income to cash from operating activities Gain on disposal of Orange Energia - - 11 (60) Gains on disposal of fixed assets (13) (95) (23) (42) Depreciation, amortisation and impairment of property, plant and equipment, intangible assets and right-of-use assets 676 2,048 684 1,995 Share of loss of joint venture 10 32 15 13 Finance costs, net 119 298 94 262 Income tax 75 192 49 148 Change in provisions and allowances (63) (129) (22) 5 Operating foreign exchange and derivatives (gains)/losses, net (6) (6) 1 (10) Change in working capital (Increase)/decrease in inventories, gross (2) (117) 46 40 (Increase)/decrease in trade receivables, gross 44 (81) 15 160 Increase in contract assets, gross (8) (35) (11) (26) Increase in contract costs (8) - (23) (32) Decrease in trade payables (91) (33) (117) (117) Decrease in contract liabilities (25) (77) (47) (178) (Increase)/decrease in prepaid expenses and other assets 46 (41) 57 (26) Increase in other payables 52 89 20 111 Interest received 18 56 23 68 Interest paid and interest rate effect paid on derivatives, net (77) (262) (95) (282) Exchange rate and other effect received/(paid) on derivatives, net 1 9 (2) 1 Income tax paid (63) (107) (23) (53) Net cash provided by operating activities 1,013 2,645 880 2,670 INVESTING ACTIVITIES Payments for purchases of property, plant and equipment and intangible assets (including bid bond paid in the auction for telecommunications licences) (513) (1,495) (456) (2,354) Investment grants received/(returned), net (26) 60 136 136 Investment grants paid to property, plant and equipment and intangible assets suppliers (20) (261) (21) (111) Exchange rate effect received/(paid) on derivatives economically hedging capital expenditures, net 3 3 - (5) Proceeds from sale of fixed assets 13 148 36 64 Proceeds from loss of control of Światłowód Inwestycje, net of transaction costs 7,9 - 63 - 116 Income tax paid in relation to loss of control of Światłowód Inwestycje - (14) - (22) Cash paid for investment in Światłowód Inwestycje 7 - (83) - - Cash paid for acquisition of joint venture including transaction costs 7 (235) (235) - - Proceeds from sale of Orange Energia, net of cash and transaction costs 9 - 3 (19) 70 Cash paid for subsidiaries - (3) (1) (9) Receipts from/(payments on) other financial instruments, net (1) 5 3 11 Net cash used in investing activities (779) (1,809) (322) (2,104) FINANCING ACTIVITIES Proceeds from long-term debt 8 260 460 250 651 Repayment of long-term debt 8 (190) (465) (8) (31) Repayment of lease liabilities (138) (430) (136) (419) Proceeds from other debt 51 51 - - Dividend paid 10 (801) (801) (696) (696) Net cash used in financing activities (818) (1,185) (590) (495) Net change in cash and cash equivalents (584) (349) (32) 71 Effect of exchange rate changes and other impacts on cash and cash equivalents - 1 2 1 Cash and cash equivalents at the beginning of the period 754 518 648 546 Cash and cash equivalents at the end of the period 170 170 618 618
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Orange Polska Group Condensed IFRS Quarterly Consolidated Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 7 Notes to the Condensed IFRS Quarterly Consolidated Financial Statements 1. The Orange Polska Group Orange Polska S.A. (“Orange Polska” or “the Company” or “OPL S.A.”), a joint stock company, was incorporated and commenced its operations on 4 December 1991. The Orange Polska Group (“the Group”) comprises Orange Polska and its subsidiaries. The Group is a part of Orange Group based in France. Orange Polska shares are listed on the Warsaw Stock Exchange. The Group is one of the biggest providers of telecommunications services in Poland. The Group provides mobile and fixed telecommunications services, including calls, messaging, content, access to the internet and TV. In addition, the Group provides IT and integration services, leased lines and other telecommunications value added services, sells telecommunications equipment, provides data transmission and constructs telecommunications infrastructure. The Group also sold electrical energy until 30 June 2025, when it disposed of its subsidiary Orange Energia Sp. z o.o. Orange Polska’s registered office is located in Warsaw, Poland, at 160 Aleje Jerozolimskie St. The Group’s telecommunications operations are subject to the supervision of Office of Electronic Communication (“UKE”). Under the law regulating telecommunications sector, UKE can impose certain obligations on telecommunications companies that have a signi ficant market power on a relevant market. Orange Polska S.A. is deemed to have a significant market power in the mobile call termination markets. This regulation applies not only to Orange Polska but to all mobile network operators in Poland. Until 20 Janu ary 2026, Orange Polska was additionally regulated in the wholesale internet access markets (BSA - bitstream access and LLU - local loop unbundling). On 20 January 2026, Orange Polska received UKE’s decision lifting this regulation, except for the requirement to maintain the wholesale customer base on no less favourable conditions, which will remain in effect for further 2 years. Furthermore, Orange Polska was regulated on the market for terminating voice calls in the fixed network. This regulation was lifted on 3 June 2026. The list of entities included in the Condensed IFRS Quarterly Consolidated Financial Statements of the Group (the “Condensed Quarterly Consolidated Financial Statements”) as at and for the 3 and 9 months ended 30 September 2026 is presented in Note 1.2 to the Orange Polska Group IFRS Consolidated Financial Statements (“IFRS Consolidated Financial Statements”) for the year ended 31 December 2025. 2. Segment information and performance measures The Group reports a single operating segment as decisions about resources to be allocated and assessment of performance are made on a consolidated basis. Group performance is evaluated by the Management Board based on revenue, EBITDAaL, net income, eCapex (economic capital expenditures), organic cash flows, net financial debt and net financial debt to EBITDAaL ratio based on cumulative EBITDAaL for the last four quarters. For the purpose of assessment of the Group performance, revenue in comparative period is adjusted for changes in scope of consolidation to present data on comparable basis. Since the calculation of EBITDAaL, eCapex, organic cash flows, and net financial debt is not defined by IFRS, these performance measures may not be comparable to similar indicators used by other entities. The methodology adopted by the Group is presented below. EBITDAaL is the key measure of operating profitability used by the Management Board and corresponds to operating income before gains/losses on disposal of fixed assets, investments and businesses, depreciation, amortisation and impairment of property, plant and equipment and intangible assets, impairment of the rights of perpetual usufruct of land historically recognised as property, plant and equipment and subsequently reclassified
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Orange Polska Group Condensed IFRS Quarterly Consolidated Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 8 to right-of-use assets and share of profits/losses of joint ventures and associates , decreased by interest expense on lease liabilities and adjusted for the impact of deconsolidation of subsidiaries, costs related to acquisition, disposal and integration of businesses, employment termination programmes, costs of restructuring or reorganisation, elimination of margin (unrealised profit) earned on asset related transactions with joint ventures and associates accounted for using the equity method, significant claims, litigation and other risks as well as other significant non-recurring items. eCapex (economic capital expenditures) is the key measure of resources allocation used by the Management Board and represents acquisitions of property, plant and equipment and intangible assets excluding telecommunications licences, decreased by the procee ds accrued on disposal of these assets as well as on disposal of the rights of perpetual usufruct of land historically recognised as property, plant and equipment and subsequently reclassified to right -of-use assets (“proceeds accrued on disposal of fixed assets”). eCapex does not include acquisitions of right-of-use assets. Organic cash flows are the key measure of cash flow generation used by the Management Board and correspond to net cash provided by operating activities decreased by payments for purchases of property, plant and equipment and intangible assets and repayment of lease liabilities, increased/decreased by impact of net exchange rate effect received/paid on derivatives economically hedging capital expenditures and lease liabilities and proceeds from sale of fixed assets (property, plant and equipment, intangible assets and rights of perpetual usufruct of land historically recognised as property, plant and equipment and subsequently reclassified to right -of-use assets) and adjusted for the payments for acquisition of telecommunications licences, payments for costs related to acquisition, disposal and integration of businesses not included in purchase price and payments relating to significant claims, litigation and other risks. Cash flows arising from obtaining or losing control of subsidiaries or other businesses, including significant tax cash flows specifically identified with these transactions, are classified as investing activities and by definition are not included in organic cash flows. Net financial debt and net financial debt to EBITDAaL ratio are the key measures of indebtedness and liquidity used by the Management Board. The calculation of net financial debt is presented in Note 8. Basic financial data of the operating segment is presented below: (in PLN millions) 9 months ended 9 months ended 30 September 2026 30 September 2025 Revenue (1) 10,275 9,541 EBITDAaL (1) 2,881 2,634 Net income 904 693 eCapex 1,082 1,127 Organic cash flows 871 668 (1) Revenue and EBITDAaL for the 9 months ended 30 September 2025 were adjusted to present data on comparable basis: Orange Energ ia Sp. z o.o. (a subsidiary disposed of on 30 June 2025) was excluded from the Group’s results. At 30 September At 31 December 2026 2025 Net financial debt (in PLN millions, see Note 8) 4,209 3,810 Net financial debt/EBITDAaL ratio 1.1 1.1
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Orange Polska Group Condensed IFRS Quarterly Consolidated Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 9 Calculation of performance measures of the operating segment is presented in the tables below: (in PLN millions) 9 months ended 30 September 2025 Revenue - reported basis 9,640 Adjustment for the impact of deconsolidation of Orange Energia (1) (99) Revenue - comparable basis 9,541 (1) Adjustment to present data for the 9 months ended 30 September 2025 on comparable basis: Orange Energia Sp. z o.o. (a subsidiary disposed of on 30 June 2025) was excluded from the Group’s revenue. (in PLN millions) 9 months ended 9 months ended 30 September 2026 30 September 2025 Operating income 1,394 1,103 Less gains on disposal of Orange Energia - (60) Less gains on disposal of fixed assets (95) (42) Add-back of depreciation, amortisation and impairment of property, plant and equipment and intangible assets (1) 1,605 1,572 Add share of loss of joint venture adjusted for elimination of margin earned on asset related transactions with joint venture 95 104 Less interest expense on lease liabilities (107) (110) Adjustment for the impact of significant risks, employment termination programmes and reorganization costs (16) 45 Adjustment for the costs related to acquisition of joint venture 5 - EBITDAaL - reported basis 2,881 2,612 Adjustment for the impact of deconsolidation of Orange Energia (2) 22 EBITDAaL - comparable basis 2,634 (1) Includes impairment of rights of perpetual usufruct of land historically recognised as property, plant and equipment, subsequently reclassified to right-of-use assets (PLN 1 million in 2026). (2) Adjustment to present data for the 9 months ended 30 September 2025 on comparable basis: Orange Energia Sp. z o.o. (a subsidiary disposed of on 30 June 2025) was excluded from the Group’s results. Additionally, material items of income and expense included in EBITDAaL are disclosed below. These items are presented after the adjustments listed in the table above. (in PLN millions) 9 months ended 9 months ended 30 September 2026 30 September 2025 Comparable basis (1) Revenue 10,275 9,541 External purchases (5,959) (5,478) Labour expense (1,158) (1,136) Other operating expense (361) (338) Other operating income 674 676 Impairment of receivables and contract assets (40) (98) Depreciation and impairment of right-of-use assets (443) (423) Interest expense on lease liabilities (107) (110) EBITDAaL 2,881 2,634 (1) Amounts for the 9 months ended 30 September 2025 are adjusted to present data on comparable basis: Orange Energia Sp. z o.o. (a subsidiary disposed of on 30 June 2025) was excluded from the Group’s results.
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Orange Polska Group Condensed IFRS Quarterly Consolidated Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 10 (in PLN millions) 9 months ended 9 months ended 30 September 2026 30 September 2025 Acquisitions of property, plant and equipment and intangible assets 1,241 1,975 Less proceeds accrued on disposal of fixed assets (159) (76) Adjustment for acquisition of telecommunications licences - (772) eCapex 1,082 1,127 (in PLN millions) 9 months ended 9 months ended 30 September 2026 30 September 2025 Net cash provided by operating activities 2,645 2,670 Payments for purchases of property, plant and equipment and intangible assets (1,495) (2,354) Exchange rate effect received/(paid) on derivatives economically hedging capital expenditures, net 3 (5) Proceeds from sale of fixed assets 148 64 Repayment of lease liabilities (430) (419) Adjustment for payment for acquisition of telecommunications licences - 712 Organic cash flows 871 668 3. Statement of compliance and basis of preparation Basis of preparation These unaudited Condensed Quarterly Consolidated Financial Statements have been prepared in accordance with International Accounting Standard (“IAS”) 34 - Interim Financial Reporting (“IAS 34”) and with all accounting standards applicable to interim financial reporting adopted by the Europe an Union, issued and effective as at the time of preparing the Condensed Quarterly Consolidated Financial Statements (see also Note 4). These Condensed Quarterly Consolidated Financial Statements should be read in conjunction with the audited IFRS Consolidated Financial Statements for the year ended 31 December 2025. The Condensed Quarterly Consolidated Financial Statements include the consolidated income statement, consolidated statement of comprehensive income, consolidated statement of financial position, consolidated statement of changes in equity, consolidated statement of cash flows an d selected explanatory notes. These Condensed Quarterly Consolidated Financial Statements have been prepared on a going concern basis. Costs that arise unevenly during the year are anticipated or deferred in the quarterly financial statements only if it would also be appropriate to anticipate or defer such costs at the end of the year. These Condensed Quarterly Consolidated Financial Statements are prepared in millions of Polish zloty (“PLN”) and were authorised for issuance by the Management Board on 26 October 2026. New IFRS standards and interpretations in 2026 IFRS 20 “Regulatory Assets and Regulatory Liabilities” was issued on 27 May 2026 and will be effective for annual periods beginning on or after 1 January 2029. This standard has not yet been endorsed by the European Union. IFRS 20 requires an entity that i s subject to a regulatory agreement to provide information about its regulatory assets, regulatory liabilities, regulatory income and regulatory expense. This standard will have no impact on the Group’s financial statements.
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Orange Polska Group Condensed IFRS Quarterly Consolidated Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 11 4. Statement of accounting policies The accounting policies and methods of computation used in the preparation of the Condensed Quarterly Consolidated Financial Statements are materially consistent with those described in Notes 2 and 35 to the audited IFRS Consolidated Financial Statements for the year ended 31 December 2025. In preparing the Group’s accounts, the Company’s Management Board is required to make judgements and estimates that affect the application of the accounting policies and the reported amounts of assets, liabilities, income and expense. The Management Board reviews these judgements and estimates if the circumstances on which they were based evolve or in the light of new information or experience. Consequently, estimates and judgments made as at 30 September 2026 may be subsequently changed. The areas of main estimates and judgements made are described in Note 35.1 to the audited IFRS Consolidated Financial Statements for the year ended 31 December 2025. 5. Revenue Revenue is disaggregated as follows: Mobile only services Revenue from mobile offers (excluding consumer market convergent offers) and Machine to Machine connectivity. Mobile only services revenue does not include equipment sales, incoming and visitor roaming revenue. Fixed only services Revenue from fixed offers (excluding consumer market convergent offers) including mainly (i) fixed broadband (including wireless for fixed), (ii) fixed narrowband, and (iii) data infrastructure and networks for business customers. Revenue from fixed offers includes also content element (linear TV and OTT - over-the-top). Convergent services (consumer market) Revenue from consumer market convergent offers. A convergent offer is defined as an offer combining at least a broadband access and a mobile voice contract with a financial benefit. Convergent services revenue does not include equipment sales, incoming and visitor roaming revenue. Revenue from convergent offers includes also content element (linear TV and OTT). Equipment sales Revenue from all retail mobile and fixed equipment sales, excluding equipment sales associated with the supply of IT and integration services. IT and integration services Revenue from ICT (Information and Communications Technology) services and Internet of Things services, including licences and equipment sales associated with the supply of these services. Wholesale Revenue from telecom operators for (i) mobile: incoming, visitor roaming, domestic mobile interconnection , domestic roaming agreement , network sharing, mobile infrastructure hosting and MVNO (Mobile Virtual Network Operator) services, (ii) fixed carriers services and fixed infrastructure hosting, and (iii) other (mainly data transmission). Other revenue Includes (i) revenue from sale of electrical energy (until 30 June 2025), (ii) other miscellaneous revenue e.g. from property rentals, research and development activity.
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Orange Polska Group Condensed IFRS Quarterly Consolidated Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 12 (in PLN millions) 3 months 9 months 3 months 9 months ended 30 September 2026 ended 30 September 2025 Mobile only services 833 2,418 806 2,352 Fixed only services 431 1,290 431 1,302 Narrowband 81 252 93 290 Broadband 238 704 228 683 Network solutions (business market) 112 334 110 329 Convergent services (consumer market) 773 2,265 714 2,091 Equipment sales 458 1,287 426 1,207 IT and integration services 611 1,628 494 1,284 Wholesale 463 1,317 436 1,236 Mobile wholesale 227 633 237 659 Fixed wholesale 166 513 151 444 Other 70 171 48 133 Other revenue 23 70 22 168 Total revenue 3,592 10,275 3,329 9,640 IT and integration services, wholesale and other revenue for the 9 months ended 30 September 2026 and 2025 include PLN 123 million and PLN 94 million, respectively, of revenue outside the scope of IFRS 15 “Revenue from Contracts with Customers”, mainly lease revenue. 6. Explanatory comments about the seasonality or cyclicality of quarterly Group operations The Group’s activities are subject to some seasonality. The fourth quarter is typically a peak sales season with high commercial spending and with increased capital expenditures resulting from investment cycle management applied by the Group. Seasonally hi gh capital expenditures in the fourth quarter are followed by higher payments to property, plant and equipment and intangible assets suppliers in the first quarter of the subsequent year, resulting in higher cash used in investing activities. 7. Items affecting assets, liabilities, equity, net income or cash flows that are unusual because of their nature, size or incidence On 25 February 2026, the Extraordinary Shareholders’ Meeting of Światłowód Inwestycje Sp. z o.o. adopted a resolution on the capital increase by PLN 166 million, of which 50% was paid by the Group in March 2026. This is in line with commitments made by joint venture investors regarding equity contribution in years 2026-2028 related to the new investment plan of Światłowód Inwestycje. Consequently, the investment in joint venture increased by PLN 83 million. In the 9 months ended 30 September 2026, proceeds from the sale of 50% stake in Światłowód Inwestycje, net of transaction costs paid, amounted to PLN 63 million. The proceeds included PLN 73 million received by the Group from APG, which was the last inflow of the contingent consideration from the sale which occurred in 2021. Total undiscounted contingent consideration, conditional on the Group’s delivery of the agreed network rollout schedule, amounted to PLN 487 million and was received in full by the Group in years 2022 -2026.
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Orange Polska Group Condensed IFRS Quarterly Consolidated Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 13 Effective from 1 January 2026, as a result of an annual review of useful lives of fixed assets, the Group extended the useful lives of fibre and certain towers which decreased depreciation expense by PLN 63 million in the 9 months ended 30 September 2026 i n comparison to previous year. Depreciation expense in 2026 relating to these assets is expected to be lower than in 2025 by approximately PLN 81 million. Operating income in the 9 months ended 30 September 2026 was positively impacted by PLN 44 million as a result of improvement by the Group of the recovery of VAT on bad debts. The Management has analysed the impact of changes in the economic and political environment and concluded that it has been properly reflected in the results as well as valuation of the assets and liabilities of the Group presented in these Condensed Quarterly Consolidated Financial Statements. Acquisition of Nexera On 30 September 2026 Orange Polska Group and APG Group (“APG”) acquired Nexera Holding sp. z o.o. (“Nexera”), one of the leading FiberCos in Poland. The transaction completed the preliminary agreement signed on 19 December 2025 and followed the European Co mmission’s unconditional regulatory approval. The transaction was based on an enterprise value of approximately PLN 1.5 billion, comprising approximately PLN 1.0 billion of bank debt (which was maintained on the balance sheet of Nexera) and around PLN 0.5 billion of consideration paid jointly by the Group and APG on a 50/50 basis (the “Partners”). Nexera’s FTTH network encompasses around 800,000 households connectable of which vast majority is located in small towns and rural areas with high saturation prospects. There are around 300,000 retail customers on Nexera’s network who are direct customers of retail telecom operators (including Orange Polska). Networks of Światłowód Inwestycje (a joint venture co -controlled by Orange Polska and APG) and Nexera are complementary as they are fully built in FTTH technology, located in attractive wholesale regions with very limited overlap between each other. The transaction is expected to contribute to higher efficiency of operations of both networks owing to expected significant operational and cost synergies. In the transaction the Group acquired 50% of Nexera shares and 50% of receivables from loans granted to Nexera by the previous owner. Acquisition price of 50% of Nexera shares amounted to 0.50 PLN. Following completion of the acquisition, on 30 September 2026 Nexera shares were contributed in kind to Światłowód Inwestycje joint venture. Nexera will be recognised by Orange Polska Group in the consolidated financial statements using the equity method, as a part of Światłowód Inwestycje Group. Acquisition price of 50% of the loans amounted to PLN 233 million. Acquisition price was lower than 50% of the nominal value of the loans including accrued interest (c. PLN 730 million as at 30 September 2026). The Group’s receivables from the loans are subordinated to Nexera bank loans. The transaction also included a commitment by the Partners to provide Nexera with financing up to PLN 130 million on a 50/50 basis over the next 12 months. Due to a short period of time between the acquisition and the date when these Consolidated Financial Statements were authorised for issuance, provisional accounting for the acquisition was made as at 30 September 2026. Final acquisition price will be calculated, in line with the agreement, in the fourth quarter of 2026 based on actual financial data of Nexera as at 30 September 2026.
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Orange Polska Group Condensed IFRS Quarterly Consolidated Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 14 8. Net financial debt Net financial debt is a measure of indebtedness used by the Management Board. Since the calculation of this aggregate is not defined by IFRS, the methodology adopted by the Group is presented below: (in PLN millions) At 30 September At 31 December 2026 2025 Loans from related parties 4,352 4,263 Other financial liabilities at amortised cost 75 109 Derivatives – net (liabilities less assets) (187) (135) Gross financial debt after derivatives 4,240 4,237 Cash and cash equivalents (170) (518) Cash flow hedge reserve 139 91 Net financial debt 4,209 3,810 In June 2026, the Group utilised PLN 2.9 billion of Loan Agreements concluded in July 2025 with Atlas Services Belgium S.A., a subsidiary of Orange S.A., mainly to provide non-cash refinancing of PLN 2.7 billion loan from Atlas Services Belgium S.A., which expired in June 2026. In the 9 months ended 30 September 2026, the net cash flows from issuance and repayments of the Revolving Credit Facility from Atlas Services Belgium S.A. amounted to PLN (170) million. As at 30 September 2026, the total outstanding balance of loans from the related parties amounted to PLN 4,352 million, including accrued interest and arrangement fees. The weighted average effective interest rate on loans from the related parties amounted to 5.55% before swaps and 5.62% after swaps as at 30 September 2026. As at 30 September 2026, the total nominal amount of interest rate swaps outstanding under the agreements with Orange Group concerning derivative transactions to hedge exposure to interest rate risk was PLN 1,850 million with a total fair value amounting to PLN 42 million. 9. Fair value of financial instruments The Group’s financial assets and liabilities that are measured subsequent to their initial recognition at fair value comprise derivative instruments, trade receivables arising from sales of mobile handsets in instalments which are subject to the factoring agreement, and the contingent consideration receivable arising from the sale of Orange Energia (presented within other assets in the consolidated statement of financial position). As at 31 December 2025, financial assets measured subsequent to their initial recognition at fair value included additionally the contingent consideration receivable arising from the sale of 50% stake in Światłowód Inwestycje.
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Orange Polska Group Condensed IFRS Quarterly Consolidated Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 15 The fair value of these instruments determined as described in Notes 15.1, 25 and 26.2 to the IFRS Consolidated Financial Statements for the year ended 31 December 2025 is presented below: (in PLN millions) At 30 September At 31 December Fair value 2026 2025 hierarchy (1) Contingent consideration receivable arising from the sale of 50% stake in Światłowód Inwestycje and 100% stake in Orange Energia (2) 17 91 Level 3 Derivatives - net (assets less liabilities) (3) 101 94 Level 3 Derivatives - net (assets less liabilities) (4) 86 41 Level 2 Trade receivables subject to the factoring agreement 589 658 Level 2 (1) Described in Note 26.1 to the IFRS Consolidated Financial Statements for the year ended 31 December 2025. (2) In 2026 the Group received PLN 73 million related to sale of stake in Światłowód Inwestycje and PLN 3 million related to sale of stake in Orange Energia. (3) Mainly commodity swaps hedging energy prices. (4) Derivatives hedging interest rate risk, currency risk and currency derivative embedded in energy contract. The Group applies the expected present value technique to measure the fair value of the contingent consideration receivable from the sale of 100% stake in Orange Energia. The discount rates used in the calculation of the present value of the expected cash flows related to the contingent consideration amounted from 4.8% to 5.6% as at 30 September 2026 and are based on the market risk-free interest rates increased by the credit risk margin estimated for Fortum. The Group has performed a sensitivity analysis for the impact of changes in unobservable inputs and concluded that a reasonably possible change in any unobservable input would not materially change the fair value of the contingent consideration receivable. The fair value of derivatives hedging energy price risk represents the valuation of probability-weighted future benefits from a difference between the fixed price agreed with the supplier of energy and expected future energy prices, calculated for the expe cted volume of energy to be generated by the wind farms. Estimated future energy prices (according to the wind production profile) are based on observable market energy prices for years 2026 – 2029 and on forecasted prices calculated by an external advisor for years 2030 – 2035. The average of these forecasted energy prices for years 2030 – 2035 used for the valuation of derivatives as at 30 September 2026 amounted to PLN 457 per 1MWh. The sensitivity analysis prepared by the Group for the unobservable prices indicated that every 10% increase/decrease in the forecasted energy prices for years 2030 – 2035 would change the fair value of derivatives and affect mainly other reserves respectively by PLN 22/(22) million as at 30 September 2026. The carrying amount of the Group’s financial instruments excluding lease liabilities approximated their fair value as at 30 September 2026. 10. Dividend On 10 April 2026, the General Meeting of Orange Polska S.A. adopted a resolution on the payment of an ordinary dividend of PLN 0.61 per share. The total dividend of PLN 801 million was paid on 8 July 2026. 11. Changes in major litigation, claims and contingent liabilities since the end of the last annual reporting period In 2026, no significant event occurred in the matters presented in Note 32 to the IFRS Consolidated Financial Statements for the year ended 31 December 2025 and no new significant matter appeared. Operational activities of the Group are subject to regulatory requirements. Some regulatory decisions can be detrimental to the Group and court verdicts within appeal proceedings against such decisions can have negative consequences for the Group. Also, th ere are claims, some of them settled in court proceedings, including for damages, contractual penalties, remuneration or return of benefits from the Group raised by counterparties or other
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Orange Polska Group Condensed IFRS Quarterly Consolidated Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 16 entities which may result in significant cash outflows. The Group is also involved in proceedings and litigations in respect to various taxes, such as income taxes, VAT, real estate tax, including the area of general anti -avoidance rules. Some of these pro ceedings and litigations may result in significant future cash outflows. Legal proceedings usually go through consecutive stages before their enforceable conclusion is reached. The possible outcomes of proceedings and claims are assessed at every stage by the Group on a regular basis and quantifiable risks related to them that are probable to result in future cash outflows are reflected as provisions or income tax liabilities in the statement of financial position. Furthermore, the Group uses fixed assets of other parties in order to provide telecommunications services. The terms of use of these assets are not always formalised and as such, the Group is subject to claims and might be subject to future claims in this respect, which will probably result in cash outflows in the future. The amount of the potential obligations or future commitments cannot yet be measured with sufficient reliability due to legal complexities involved. Some of the above determined matters may be complex in nature and there are many scenarios for final settlement and potential financial impact for the Group. The Group monitors the risks on a regular basis and the Management Board believes that adequate provisions have been recorded for known and quantifiable risks. Information regarding the range of potential outcomes has not been separately disclosed as, in the opinion of the Group’s Management, such disclosure could prejudice the outcome of the pending cases. 12. Related party transactions As at 30 September 2026, Orange S.A. owned 50.67% of shares of the Company. Orange S.A. has the majority of the total number of votes at the General Meeting of OPL S.A. which appoints OPL S.A.’s Supervisory Board Members. The Supervisory Board decides abou t the composition of the Management Board. According to the Company’s Articles of Association, at least 4 Members of the Supervisory Board must be independent. The majority of Members of the Audit Committee of the Supervisory Board are independent. The Group’s income earned from the Orange Group comprises mainly wholesale telecommunications services and research and development income. The purchases from the Orange Group comprise mainly brand fees and wholesale telecommunications services. Financial receivables, liabilities, financial expense, net and other comprehensive income/loss concerning transactions with the Orange Group relate mainly to loan agreements concluded with Atlas Services Belgium S.A. and agreements with Orange S.A. and Atl as Services Belgium S.A. concerning derivative transactions to hedge exposure to interest rate risk related to the above-mentioned loan agreements. Financial income and cash and cash equivalents deposited with Orange S.A. relate to the Treasury Agreement. The Group’s income and receivables from Światłowód Inwestycje Group, a joint venture, comprise mainly investment process management services and sale of fibre network assets to Światłowód Inwestycje. The purchases from Światłowód Inwestycje Group comprise mainly network access connectivity fees charged by Światłowód Inwestycje. Liabilities, financial liabilities and financial expense, net concerning transactions with Światłowód Inwestycje Group relate mainly to agreements for the lease and services to be re ndered in the future, for which Światłowód Inwestycje paid upfront. Financial receivables from Światłowód Inwestycje Group consist of loan receivables from Nexera acquired on 30 September 2026 (see Note 7). In March 2026, the Group paid PLN 83 million to Światłowód Inwestycje to increase the joint venture’s capital (see Note 7). The Group expects to provide Światłowód Inwestycje Group with additional shareholder funding in the future, including commitments undertaken as at 30 September 2026 for around PLN 45 million of equity contribution to Światłowód Inwestycje under certain con ditions in years 2027 – 2028 and up to PLN 65 million of financing to Nexera over the next 12 months.
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Orange Polska Group Condensed IFRS Quarterly Consolidated Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 17 In connection with financing agreements concluded by Światłowód Inwestycje, Orange Polska as a shareholder was obliged to pledge shares of Światłowód Inwestycje as collateral to secure the repayment by the joint venture of its liabilities arising from thes e loan agreements and related transactions hedging the interest rate risk. The Group’s liability is limited to the shares of Światłowód Inwestycje. As at 30 September 2026, the carrying amount of the Group’s investment in the joint venture amounted to PLN 1.2 billion (PLN 1.1 billion as at 31 December 2025). (in PLN millions) 3 months 9 months 3 months 9 months ended 30 September 2026 ended 30 September 2025 Sales of goods and services and other income: 257 711 208 697 Orange S.A. (parent) 54 156 52 147 Orange Group (excluding parent) 25 68 21 59 Światłowód Inwestycje Group (joint venture) 178 487 135 491 Purchases of goods (including inventories, tangible and intangible assets) and services: (157) (434) (133) (376) Orange S.A. (parent) (22) (48) (16) (41) Orange Group (excluding parent) (57) (156) (51) (145) Światłowód Inwestycje Group (joint venture) (78) (230) (66) (190) Financial income: 1 5 3 8 Orange S.A. (parent) 1 5 3 8 Financial expense, net: (58) (144) (50) (144) Orange S.A. (parent) - 31 24 76 Orange Group (excluding parent) (58) (174) (74) (218) Światłowód Inwestycje Group (joint venture) - (1) - (2) Other comprehensive income/(loss): 55 25 (22) (80) Orange S.A. (parent) 1 (29) (24) (82) Orange Group (excluding parent) 54 54 2 2 Dividend paid: 406 406 352 352 Orange S.A. (parent) 406 406 352 352 Additionally, during the 9 months ended 30 September 2026 and 2025, the Company transferred, respectively, PLN 34 million and PLN 44 million to Orange S.A. to settle selected liabilities related to roaming on behalf of the Company.
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Orange Polska Group Condensed IFRS Quarterly Consolidated Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 18 (in PLN millions) At 30 September At 31 December 2026 2025 Receivables and contract costs: 290 233 Orange S.A. (parent) 57 61 Orange Group (excluding parent) 91 41 Światłowód Inwestycje Group (joint venture) 142 131 Liabilities: 686 787 Orange S.A. (parent) 35 56 Orange Group (excluding parent) 57 62 Światłowód Inwestycje Group (joint venture) 594 669 Financial receivables: 275 31 Orange S.A. (parent) - 31 Orange Group (excluding parent) 42 - Światłowód Inwestycje Group (joint venture) 233 - Cash and cash equivalents deposited with: - 120 Orange S.A. (parent) - 120 Financial liabilities: 4,353 4,280 Orange S.A. (parent) 51 4 Orange Group (excluding parent) 4,204 4,171 Światłowód Inwestycje Group (joint venture) 98 105 Compensation (remuneration, bonuses, post -employment and other long -term benefits, termination indemnities and share -based payment plans - cash and non -monetary benefits) of OPL S.A.’s Management Board and Supervisory Board Members for the 9 months ended 3 0 September 2026 and 2025 amounted to PLN 20.3 million and PLN 17.7 million, respectively. The increase resulted mainly from the higher estimated cost of share -based payment plans due to Orange Polska share price growth in 2026. Additionally, the President of OPL S.A.’s Management Board has been employed by Orange Global International Mobility S.A., a subsidiary of Orange S.A., and posted to Orange Polska. The amount incurred by the Orange Polska Group for the reimbursement of key management personnel costs from the Orange Group for the 9 months ended 30 Sept ember 2026 and 2025 amounted to PLN 5.5 million and PLN 4.6 million, respectively. 13. Subsequent events There was no significant event after the end of the reporting period.
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Translation of the financial statements originally issued in Polish 26 October 2026 ORANGE POLSKA S.A. CONDENSED IFRS QUARTERLY SEPARATE FINANCIAL STATEMENTS FOR THE 3 AND 9 MONTHS ENDED 30 SEPTEMBER 2026
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Orange Polska S.A. Condensed IFRS Quarterly Separate Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 2 Contents 9 INCOME STATEMENT 3 STATEMENT OF COMPREHENSIVE INCOME 3 STATEMENT OF FINANCIAL POSITION 4 STATEMENT OF CHANGES IN EQUITY 5 STATEMENT OF CASH FLOWS 6 NOTES TO THE CONDENSED IFRS QUARTERLY SEPARATE FINANCIAL STATEMENTS 7 1. Orange Polska S.A. 7 2. Statement of compliance and basis of preparation 7 3. Statement of accounting policies 8 4. Revenue 9 5. Explanatory comments about the seasonality or cyclicality of quarterly Company operations 10 6. Items affecting assets, liabilities, equity, net income or cash flows that are unusual because of their nature, size or incidence 10 7. Changes in loans from related parties 11 8. Fair value of financial instruments 11 9. Dividend 12 10. Changes in major litigation, claims and contingent liabilities since the end of the last annual reporting period 13 11. Related party transactions 13 12. Subsequent events 16
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Orange Polska S.A. Condensed IFRS Quarterly Separate Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 3 INCOME STATEMENT (in PLN millions, except for earnings per share) 3 months 9 months 3 months 9 months Note ended 30 September 2026 ended 30 September 2025 Revenue 4 3,109 8,995 2,915 8,500 External purchases (1,682) (4,869) (1,583) (4,613) Labour expense (335) (1,072) (329) (1,054) Other operating expense (116) (344) (121) (377) Other operating income 234 670 189 664 Impairment of receivables and contract assets 6 (22) (39) (25) (97) Loss on disposal of Orange Energia - - (11) (6) Gains on disposal of fixed assets 12 94 26 44 Depreciation and impairment of right-of-use assets (146) (436) (140) (413) Depreciation, amortisation and impairment of property, plant and equipment and intangible assets 6 (522) (1,583) (535) (1,549) Operating income 532 1,416 386 1,099 Dividend income - 82 30 71 Interest income 17 54 23 68 Interest expense on lease liabilities (36) (106) (37) (109) Other interest expense and financial charges (61) (156) (57) (162) Discounting expense (30) (80) (24) (62) Foreign exchange gains/(losses) (7) (13) (1) 3 Finance costs, net (117) (219) (66) (191) Income tax (76) (192) (52) (158) Net income 339 1,005 268 750 Earnings per share (in PLN) (basic and diluted) 0.26 0.77 0.20 0.57 Weighted average number of shares (in millions) 1,312 1,312 1,312 1,312 STATEMENT OF COMPREHENSIVE INCOME (in PLN millions) 3 months 9 months 3 months 9 months ended 30 September 2026 ended 30 September 2025 Net income 339 1,005 268 750 Items that may be reclassified subsequently to profit or loss Gains/(losses) on cash flow hedges 67 50 (15) (95) Gains/(losses) on receivables at fair value through other comprehensive income (3) (3) (3) 3 Income tax relating to items that may be reclassified (12) (9) 4 18 Other comprehensive income/(loss), net of tax 52 38 (14) (74) Total comprehensive income 391 1,043 254 676
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Orange Polska S.A. Condensed IFRS Quarterly Separate Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 4 STATEMENT OF FINANCIAL POSITION (in PLN millions) At 30 September At 31 December Note 2026 2025 ASSETS Goodwill 2,014 2,014 Other intangible assets 4,439 4,734 Property, plant and equipment 6 10,041 10,302 Right-of-use assets 2,762 2,848 Investments in subsidiaries 6 787 519 Investment in joint venture 6 907 824 Trade receivables 8 640 636 Contract assets 143 125 Contract costs 258 251 Derivatives 7,8 177 129 Other assets 8 146 104 Deferred tax assets 122 261 Total non-current assets 22,436 22,747 Inventories 274 202 Trade receivables 8 1,767 1,612 Contract assets 120 103 Contract costs 485 492 Derivatives 7,8 11 34 Other assets 6,8 399 334 Prepaid expenses 81 64 Cash and cash equivalents 71 424 Total current assets 3,208 3,265 TOTAL ASSETS 25,644 26,012 EQUITY AND LIABILITIES Share capital 3,937 3,937 Share premium 832 832 Other reserves 54 18 Retained earnings 8,267 8,060 Total equity 13,090 12,847 Trade payables 126 144 Lease liabilities 2,242 2,292 Loans from related parties 7,11 4,264 1,550 Other financial liabilities at amortised cost 18 23 Derivatives 7,8 - 14 Provisions 10 743 1,017 Contract liabilities 724 737 Employee benefits 67 70 Other liabilities 22 20 Total non-current liabilities 8,206 5,867 Trade payables 1,851 2,116 Lease liabilities 710 690 Loans from related parties 7,11 283 2,872 Other financial liabilities at amortised cost 6 6 Derivatives 7,8 1 14 Provisions 10 278 281 Contract liabilities 635 682 Employee benefits 191 207 Income tax liabilities 23 60 Other liabilities 370 370 Total current liabilities 4,348 7,298 TOTAL EQUITY AND LIABILITIES 25,644 26,012
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Orange Polska S.A. Condensed IFRS Quarterly Separate Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 5 STATEMENT OF CHANGES IN EQUITY (in PLN millions) Share Share Other reserves Retained Total equity capital premium earnings Cash flow hedge Actuarial losses Losses on Deferred tax reserve on post- receivables at fair employment value through other benefits comprehensive income Balance at 1 January 2026 3,937 832 91 (60) (9) (4) 8,060 12,847 Net income - - - - - - 1,005 1,005 Other comprehensive income - - 50 - (3) (9) - 38 Total comprehensive income for the 9 months ended 30 September 2026 - - 50 - (3) (9) 1,005 1,043 Dividend (transactions with the owners) - - - - - - (801) (801) Share-based payments (transactions with the owner) - - - - - - 3 3 Hedging gains transferred to inventories - - (2) - - - - (2) Balance at 30 September 2026 3,937 832 139 (60) (12) (13) 8,267 13,090 Balance at 1 January 2025 3,937 832 217 (60) (13) (27) 7,940 12,826 Net income - - - - - - 750 750 Other comprehensive loss - - (95) - 3 18 - (74) Total comprehensive income for the 9 months ended 30 September 2025 - - (95) - 3 18 750 676 Dividend (transactions with the owners) - - - - - - (696) (696) Share-based payments (transactions with the owner) - - - - - - 2 2 Hedging losses transferred to inventories - - 5 - - (1) - 4 Balance at 30 September 2025 3,937 832 127 (60) (10) (10) 7,996 12,812
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Orange Polska S.A. Condensed IFRS Quarterly Separate Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 6 STATEMENT OF CASH FLOWS (in PLN millions) 3 months 9 months 3 months 9 months Note ended 30 September 2026 ended 30 September 2025 OPERATING ACTIVITIES Net income 339 1,005 268 750 Adjustments to reconcile net income to cash from operating activities Loss on disposal of Orange Energia - - 11 6 Gains on disposal of fixed assets (12) (94) (26) (44) Depreciation, amortisation and impairment of property, plant and equipment, intangible assets and right-of-use assets 668 2,019 675 1,962 Finance costs, net 117 219 66 191 Income tax 76 192 52 158 Change in provisions and allowances (63) (129) (21) 3 Operating foreign exchange and derivatives gains, net (5) (5) - (11) Change in working capital (Increase)/decrease in inventories, gross (15) (82) 41 28 (Increase)/decrease in trade receivables, gross (69) (157) (35) 71 Increase in contract assets, gross (8) (35) (11) (27) Increase in contract costs (7) - (23) (32) Increase/(decrease) in trade payables 28 40 (84) 14 Decrease in contract liabilities (22) (78) (48) (173) (Increase)/decrease in prepaid expenses and other assets 39 (39) 51 (30) Increase in other payables 21 21 7 42 Dividends received 4 7 3 6 Interest received 17 54 23 68 Interest paid and interest rate effect paid on derivatives, net (78) (262) (95) (282) Exchange rate and other effect received/(paid) on derivatives, net 1 9 (3) - Income tax paid (52) (85) (18) (36) Net cash provided by operating activities 979 2,600 833 2,664 INVESTING ACTIVITIES Payments for purchases of property, plant and equipment and intangible assets (including bid bond paid in the auction for telecommunications licences) (514) (1,491) (458) (2,363) Investment grants received/(returned), net (26) 60 136 136 Investment grants paid to property, plant and equipment and intangible assets suppliers (20) (261) (21) (111) Exchange rate effect received/(paid) on derivatives economically hedging capital expenditures, net 3 3 - (5) Proceeds from sale of fixed assets 14 133 33 61 Proceeds from sale of investment in Światłowód Inwestycje, net of transaction costs 6,8 - 63 - 116 Income tax paid in relation to sale of investment in Światłowód Inwestycje - (14) - (22) Cash paid for investment in Światłowód Inwestycje 6 - (83) - - Proceeds from sale of Orange Energia, net of transaction costs 8 - 3 (19) 75 Cash paid for investments in subsidiaries 6 (268) (268) - (1) Receipts from/(payments on) loans and other financial instruments, net (1) 13 12 5 Net cash used in investing activities (812) (1,842) (317) (2,109) FINANCING ACTIVITIES Proceeds from long-term debt 7 260 460 250 650 Repayment of long-term debt 7 (181) (434) (1) (4) Repayment of lease liabilities (136) (423) (133) (411) Proceeds from/(repayment of) other debt, net 124 87 13 (23) Dividend paid 9 (801) (801) (696) (696) Net cash used in financing activities (734) (1,111) (567) (484) Net change in cash and cash equivalents (567) (353) (51) 71 Effect of exchange rate changes and other impacts on cash and cash equivalents (1) - 2 1 Cash and cash equivalents at the beginning of the period 639 424 553 432 Cash and cash equivalents at the end of the period 71 71 504 504
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Orange Polska S.A. Condensed IFRS Quarterly Separate Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 7 Notes to the Condensed IFRS Quarterly Separate Financial Statements 1. Orange Polska S.A. Orange Polska S.A. (“Orange Polska” or “the Company” or “OPL S.A.”), a joint stock company, was incorporated and commenced its operations on 4 December 1991. Orange Polska shares are listed on the Warsaw Stock Exchange. Orange Polska is one of the biggest providers of telecommunications services in Poland. The Company provides mobile and fixed telecommunications services, including calls, messaging, content, access to the internet and TV. In addition, Orange Polska provides IT and integration services, leased lines and other telecommunications value added services, sells telecommunications equipment, provides data transmission and constructs telecommunications infrastructure. Orange Polska’s registered office is located in Warsaw, Poland, at 160 Aleje Jerozolimskie St. The Company’s telecommunications operations are subject to the supervision of Office of Electronic Communication (“UKE”). Under the law regulating telecommunications sector, UKE can impose certain obligations on telecommunications companies that have a sig nificant market power on a relevant market. Orange Polska S.A. is deemed to have a significant market power in the mobile call termination markets. This regulation applies not only to Orange Polska but to all mobile network operators in Poland. Until 20 Ja nuary 2026, Orange Polska was additionally regulated in the wholesale internet access markets (BSA - bitstream access and LLU - local loop unbundling). On 20 January 2026, Orange Polska received UKE’s decision lifting this regulation, except for the requirement to maintain the wholesale customer base on no less favourable conditions, which will remain in effect for further 2 years . Furthermore, Orange Polska was regulated on the market for terminating voice calls in the fixed network. This regulation was lifted on 3 June 2026. 2. Statement of compliance and basis of preparation Basis of preparation These unaudited Condensed IFRS Quarterly Separate Financial Statements for the 3 and 9 months ended 30 September 2026 (the “Condensed Quarterly Separate Financial Statements”) have been prepared in accordance with International Accounting Standard (“IAS”) 34 - Interim Financial Reporting (“IAS 34”) and with all accounting standards applicable to interim financial reporting adopted by the European Union, issued and effective as at the time of preparing the Condensed Quarterly Separate Financial Statements (see also Note 3). These Condensed Quarterly Separate Financial Statements should be read in conjunction with the audited Orange Polska S.A. IFRS Separate Financial Statements and the notes thereto (“IFRS Separate Financial Statements”) for the year ended 31 December 2025. The Condensed Quarterly Separate Financial Statements include the income statement, statement of comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows and selected explanatory notes. These Condensed Quarterly Separate Financial Statements have been prepared on a going concern basis. Costs that arise unevenly during the year are anticipated or deferred in the quarterly financial statements only if it would also be appropriate to anticipate or defer such costs at the end of the year.
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Orange Polska S.A. Condensed IFRS Quarterly Separate Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 8 Orange Polska S.A. is the parent company of the Orange Polska Group (“the Group”, “OPL Group”) and prepares condensed quarterly consolidated financial statements for the 3 and 9 months ended 30 September 2026. The Group is a part of Orange Group, whose parent company is Orange S.A. based in France. These Condensed Quarterly Separate Financial Statements are prepared in millions of Polish zloty (“PLN”) and were authorised for issuance by the Management Board on 26 October 2026. New IFRS standards and interpretations in 2026 IFRS 20 “Regulatory Assets and Regulatory Liabilities” was issued on 27 May 2026 and will be effective for annual periods beginning on or after 1 January 2029. This standard has not yet been endorsed by the European Union. IFRS 20 requires an entity that is subject to a regulatory agreement to provide information about its regulatory assets, regulatory liabilities, regulatory income and regulatory expense. This standard will have no impact on the Company’s financial statements. 3. Statement of accounting policies The accounting policies and methods of computation used in the preparation of the Condensed Quarterly Separate Financial Statements are materially consistent with those described in Notes 2 and 34 to the audited IFRS Separate Financial Statements for the year ended 31 December 2025. In preparing the Company’s accounts, the Company’s Management Board is required to make judgements and estimates that affect the application of the accounting policies and the reported amounts of assets, liabilities, income and expense. The Management Board reviews these judgemen ts and estimates if the circumstances on which they were based evolve or in the light of new information or experience. Consequently, estimates and judgments made as at 30 September 2026 may be subsequently changed. The areas of main estimates and judgements made are described in Note 34.1 to the audited IFRS Separate Financial Statements for the year ended 31 December 2025.
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Orange Polska S.A. Condensed IFRS Quarterly Separate Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 9 4. Revenue Revenue is disaggregated as follows: Mobile only services Revenue from mobile offers (excluding consumer market convergent offers) and Machine to Machine connectivity. Mobile only services revenue does not include equipment sales, incoming and visitor roaming revenue. Fixed only services Revenue from fixed offers (excluding consumer market convergent offers) including mainly (i) fixed broadband (including wireless for fixed), (ii) fixed narrowband, and (iii) data infrastructure and networks for business customers. Revenue from fixed offers includes also content element (linear TV and OTT - over-the-top). Convergent services (consumer market) Revenue from consumer market convergent offers. A convergent offer is defined as an offer combining at least a broadband access and a mobile voice contract with a financial benefit. Convergent services revenue does not include equipment sales, incoming and visitor roaming revenue. Revenue from convergent offers includes also content element (linear TV and OTT). Equipment sales Revenue from all retail mobile and fixed equipment sales, excluding equipment sales associated with the supply of IT and integration services. IT and integration services Revenue from ICT (Information and Communications Technology) services and Internet of Things services, including licences and equipment sales associated with the supply of these services.. Wholesale Revenue from telecom operators for (i) mobile: incoming, visitor roaming, domestic mobile interconnection, domestic roaming agreement, network sharing, mobile infrastructure hosting and MVNO (Mobile Virtual Network Operator) services, (ii) fixed carriers services, and fixed infrastructure hosting, and (iii) other (mainly data transmission). Other revenue Includes other miscellaneous revenue e.g. revenue from property rentals, research and development activity. (in PLN millions) 3 months 9 months 3 months 9 months ended 30 September 2026 ended 30 September 2025 Mobile only services 826 2,400 801 2,339 Fixed only services 427 1,276 424 1,277 Narrowband 81 252 93 290 Broadband 233 685 219 654 Network solutions (business market) 113 339 112 333 Convergent services (consumer market) 773 2,265 714 2,091 Equipment sales 459 1,288 426 1,204 IT and integration services 133 371 92 282 Wholesale 465 1,319 437 1,239 Mobile wholesale 227 633 237 659 Fixed wholesale 166 513 151 445 Other 72 173 49 135 Other revenue 26 76 21 68 Total revenue 3,109 8,995 2,915 8,500
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Orange Polska S.A. Condensed IFRS Quarterly Separate Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 10 Wholesale and other revenue for the 9 months ended 30 September 2026 and 2025 include respectively, PLN 116 million and PLN 78 million of lease revenue that is outside the scope of IFRS 15 “Revenue from Contracts with Customers”. 5. Explanatory comments about the seasonality or cyclicality of quarterly Company operations The Company’s activities are subject to some seasonality. The fourth quarter is typically a peak sales season with high commercial spending and with increased capital expenditures resulting from investment cycle management applied by the Company. Seasonally high capital expenditures in the fourth quarter are followed by higher payments to property, plant and equipment and intangible assets suppliers in the first quarter of the subsequent year, resulting in higher cash used in investing activities. 6. Items affecting assets, liabilities, equity, net income or cash flows that are unusual because of their nature, size or incidence On 25 February 2026, the Extraordinary Shareholders’ Meeting of Światłowód Inwestycje Sp. z o.o. adopted a resolution on the capital increase by PLN 166 million, of which 50% was paid by the Company in March 2026. This is in line with commitments made by j oint venture investors regarding equity contribution in years 2026 -2028 related to the new investment plan of Światłowód Inwestycje. Consequently, the investment in joint venture increased by PLN 83 million. In the 9 months ended 30 September 2026 , proceeds from the sale of 50% stake in Światłowód Inwestycje, net of transaction costs paid, amounted to PLN 63 million. The proceeds included PLN 73 million received by the Company from APG, which was the last inflow of the contingent consideration from the sale which occurred in 2021. Total undiscounted contingent consideration, conditional on the Company’s delivery of the agreed network rollout schedule, amounted to PLN 487 million and was received in full by the Company in years 2022-2026. Effective from 1 January 2026, as a result of an annual review of useful lives of fixed assets, the Company extended the useful lives of fibre and certain towers which decreased depreciation expense by PLN 63 million in the 9 months ended 30 September 2026 in comparison to previous year. Depreciation expense in 2026 relating to these assets is expected to be lower than in 2025 by approximately PLN 81 million. Operating income in the 9 months ended 30 September 2026 was positively impacted by PLN 44 million as a result of improvement by the Company of the recovery of VAT on bad debts. The Management has analysed the impact of changes in the economic and political environment and concluded that it has been properly reflected in the results as well as valuation of the assets and liabilities of the Company presented in these Condensed Quarterly Separate Financial Statements. Acquisition of Nexera On 30 September 2026 Orange Polska Group and APG Group (“APG”) acquired Nexera Holding sp. z o.o. (“Nexera”), one of the leading FiberCos in Poland. The transaction completed the preliminary agreement signed on 19 December 2025 and followed the European Co mmission’s unconditional regulatory approval. The transaction was based on an enterprise value of approximately PLN 1.5 billion, comprising approximately PLN 1.0 billion of bank debt (which was maintained on the balance sheet of Nexera) and around PLN 0.5 billion of consideration paid jointly by OPL Group and APG on a 50/50 basis (the “Partners”).
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Orange Polska S.A. Condensed IFRS Quarterly Separate Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 11 Nexera’s FTTH network encompasses around 800,000 households connectable of which vast majority is located in small towns and rural areas with high saturation prospects. There are around 300,000 retail customers on Nexera’s network who are direct customers of retail telecom operators (including Orange Polska ). Networks of Światłowód Inwestycje (a joint venture co -controlled by Orange Polska and APG) and Nexera are complementary as they are fully built in FTTH technology, located in attractive wholesale regions with very limited overlap between each other. The transaction is expected to contribute to higher efficiency of operations of both networks owing to expected significant operational and cost synergies. In the transaction OPL S.A. acquired 50% of Nexera shares and Telekomunikacja Polska Sp. z o.o., a fully owned subsidiary of Orange Polska, acquired 50% of receivables from loans granted to Nexera by the previous owner. Acquisition price of 50% of Nexera shares amounted to 0.50 PLN. Following completion of the acquisition, on 30 September 2026 Nexera shares were contributed in kind by Orange Polska to Światłowód Inwestycje joint venture and Nexera became a subsidiary in Światłowód Inwestycje Group. On 30 September 2026, Orange Polska increased the capital of Telekomunikacja Polska Sp. z o.o. by PLN 268 million, mainly in order to finance the acquisition of 50% of Nexera loans by Telekomunikacja Polska. The full amount of capital increase was paid on 30 September 2026. Acquisition price of 50% of the loans by Telekomunikacja Polska amounted to PLN 233 million. The acquisition of Nexera also included a commitment by the Partners to provide Nexera with financing up to PLN 130 million on a 50/50 basis over the next 12 months. 7. Changes in loans from related parties In June 2026, the Company utilised PLN 2.9 billion of Loan Agreements concluded in July 2025 with Atlas Services Belgium S.A., a subsidiary of Orange S.A., mainly to provide non-cash refinancing of PLN 2.7 billion loan from Atlas Services Belgium S.A., which expired in June 2026. In the 9 months ended 30 September 2026, the net cash flows from issuance and repayments of the Revolving Credit Facility from Atlas Services Belgium S.A. amounted to PLN (170) million. As at 30 September 2026, the total outstanding balance of loans from the related parties amounted to PLN 4,547 million, including accrued interest and arrangement fees. The weighted average effective interest rate on loans from the related parties amounted to 5.45% before swaps and 5.52% after swaps as at 30 September 2026. As at 30 September 2026 , the total nominal amount of interest rate swaps, outstanding under the agreements with Orange Group concerning derivative transactions to hedge exposure to interest rate risk was PLN 1,850 million with a total fair value amounting to PLN 42 million. 8. Fair value of financial instruments The Company’s financial assets and liabilities that are measured subsequent to their initial recognition at fair value comprise derivative instruments, trade receivables arising from sales of mobile handsets in instalments which are subject to the factoring agreement, and the contingent consideration receivable arising from the sale of Orange Energia (presented within other assets in the statement of financial position) . As at 31 December 2025, financial assets
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Orange Polska S.A. Condensed IFRS Quarterly Separate Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 12 measured subsequent to their initial recognition at fair value included additionally the contingent consideration receivable arising from the sale of 50% stake in Światłowód Inwestycje. The fair value of these instruments determined as described in Notes 13.1, 24 and 25.2 to the IFRS Separate Financial Statements for the year ended 31 December 2025 is presented below: (in PLN millions) At 30 September At 31 December Fair value 2026 2025 hierarchy (1) Contingent consideration receivable arising from the sale of 50% stake in Światłowód Inwestycje and 100% stake in Orange Energia (2) 17 91 Level 3 Derivatives - net (assets less liabilities) (3) 101 94 Level 3 Derivatives - net (assets less liabilities) (4) 86 41 Level 2 Trade receivables subject to the factoring agreement 589 658 Level 2 (1) Described in Note 25.1 to the IFRS Separate Financial Statements for the year ended 31 December 2025. (2) In 2026 the Company received PLN 73 million related to sale of stake in Światłowód Inwestycje and PLN 3 million related to sale of stake in Orange Energia. (3) Mainly commodity swaps hedging energy prices. (4) Derivatives hedging interest rate risk, currency risk and currency derivative embedded in energy contract. The Company applies the expected present value technique to measure the fair value of the contingent consideration receivable from the sale of 100% stake in Orange Energia . The discount rates used in the calculation of the present value of the expected cash flows related to the contingent consideration amounted from 4.8% to 5.6% as at 30 September 2026 and are based on the market risk -free interest rates increased by the credit risk margin estimated for Fortum. The Company has performed a sensitivity analysis for the impact of changes in unobservable inputs and concluded that a reasonably possible change in any unobservable input would not materially change the fair value of the contingent consideration receivable. The fair value of derivatives hedging energy price risk represents the valuation of probability -weighted future benefits from a difference between the fixed price agreed with the supplier of energy and expected future energy prices, calculated for the expe cted volume of energy to be generated by the wind farms. Estimated future energy prices (according to the wind production profile) are based on observable market energy prices for years 2026 – 2029 and on forecasted prices calculated by an external advisor for years 20 30 – 2035. The average of these forecasted energy prices for years 20 30 – 2035 used for the valuation of derivatives as at 30 September 2026 amounted to PLN 457 per 1MWh. The sensitivity analysis prepared by the Company for the unobservable prices indicated that every 10% increase/decrease in the forecasted energy prices for years 2030 – 2035 would change the fair value of derivatives and affect mainly other reserves respectively by PLN 22/(22) million as at 30 September 2026. The carrying amount of the Company’s financial instruments excluding lease liabilities approximated their fair value as at 30 September 2026. 9. Dividend On 10 April 2026, the General Meeting of Orange Polska S.A. adopted a resolution on the payment of an ordinary dividend of PLN 0.61 per share. The total dividend of PLN 801 million was paid on 8 July 2026 .
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Orange Polska S.A. Condensed IFRS Quarterly Separate Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 13 10. Changes in major litigation, claims and contingent liabilities since the end of the last annual reporting period In 2026, no significant event occurred in the matters presented in Note 31 to the IFRS Separate Financial Statements for the year ended 31 December 2025 and no new significant matter appeared. Operational activities of the Company are subject to regulatory requirements. Some regulatory decisions can be detrimental to the Company and court verdicts within appeal proceedings against such decisions can have negative consequences for the Company. Al so, there are claims, some of them settled in court proceedings, including for damages, contractual penalties, remuneration or return of benefits from the Company raised by counterparties or other entities which may result in significant cash outflows . The Company is also involved in proceedings and litigations in respect to various taxes, such as income taxes, VAT, real estate tax, including the area of general anti-avoidance rules. Some of these proceedings and litigations may result in significant f uture cash outflows. Legal proceedings usually go through consecutive stages before their enforceable conclusion is reached. The possible outcomes of proceedings and claims are assessed at every stage by the Company on a regular basis and quantifiable risks related to them that are probable to result in future cash outflows are reflected as provisions or income tax liabilities in the statement of financial position. Furthermore, the Company uses fixed assets of other parties in order to provide telecommunications services. The terms of use of these assets are not always formalised and as such, the Company is subject to claims and might be subject to future claims in t his respect, which will probably result in cash outflows in the future. The amount of the potential obligations or future commitments cannot yet be measured with sufficient reliability due to legal complexities involved. Some of the above determined matters may be complex in nature and there are many scenarios for final settlement and potential financial impact for the Company. The Company monitors the risks on a regular basis and the Management Board believes that adequat e provisions have been recorded for known and quantifiable risks. Information regarding the range of potential outcomes has not been separately disclosed as, in the opinion of the Company’s Management, such disclosure could prejudice the outcome of the pending cases. 11. Related party transactions As at 30 September 2026, Orange S.A. owned 50.67% of shares of the Company. Orange S.A. has the majority of the total number of votes at the General Meeting of OPL S.A. which appoints OPL S.A.’s Supervisory Board Members. The Supervisory Board decides about the composition of the Management Board. According to the Company’s Articles of Association, at least 4 Members of the Supervisory Board must be independent. The majority of Members of the Audit Committee of the Supervisory Board are independent. OPL S.A.’s income earned from its subsidiaries comprises mainly sales of telecommunications equipment . The purchases from the subsidiaries comprise mainly software intangible assets and application maintenance and development services. Costs incurred by the Company in transactions with its subsidiaries also comprise donations to Fundacja Orange. Income earned from the Orange Group comprises mainly wholesale telecommunications services and research and development income. The purchases from the Orange Group comprise mainly brand fees and wholesale telecommunications services.
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Orange Polska S.A. Condensed IFRS Quarterly Separate Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 14 OPL S.A.’s financial income and financial receivables from the subsidiaries relate to dividends and, additionally, in 2025, to loans granted to the subsidiaries. Financial costs and financial liabilities concerning transactions with the subsidiaries relate to cash pool deposits from the subsidiaries. Financial receivables, liabilities, financial expense, net and other comprehensive income/loss concerning transactions with the Orange Group relate mainly to loan agreements concluded with Atlas Services Belgium S.A. and agreements with Orange S.A. and Atlas Services Belgium S.A. concerning derivative transactions to hedge exposure to interest rate risk related to the above-mentioned loan agreements. Financial income and cash and cash equivalents deposited with Orange S.A. relate to the Treasury Agreement. OPL S.A.’s income and receivables from Światłowód Inwestycje Group, a joint venture, comprise mainly investment process management services and sale of fibre network assets to Światłowód Inwestycje. The purchases from Światłowód Inwestycje Group comprise mainly network access connectivity fees charged by Światłowód Inwestycje. Liabilities, financial liabilities and financial expense, net concerning transactions with Światłowód Inwestycje Group relate mainly to agreements for the lease and services to be rendered in the future, for which Światłowód Inwestycje paid upfront. In March 2026, the Company paid PLN 83 million to Światłowód Inwestycje to increase the joint venture’s capital (see Note 6). The Company expects to provide Światłowód Inwestycje Group with additional shareholder funding in the future, including commitments undertaken as at 30 September 2026 for around PLN 45 million of equity contribution to Światłowód Inwestycje under certain conditions i n years 2027 – 2028 and up to PLN 65 million of financing to Nexera over the next 12 months (see Note 6). In connection with financing agreements concluded by Światłowód Inwestycje, Orange Polska as a shareholder was obliged to pledge shares of Światłowód Inwestycje as collateral to secure the repayment by the joint venture of its liabilities arising from thes e loan agreements and related transactions hedging the interest rate risk. The Company’s liability is limited to the shares of Światłowód Inwestycje. As at 30 September 2026 and 31 December 2025, the carrying amount of the Company’s investment in the joint venture amounted to PLN 907 million and PLN 824 million, respectively.
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Orange Polska S.A. Condensed IFRS Quarterly Separate Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 15 (in PLN millions) 3 months 9 months 3 months 9 months ended 30 September 2026 ended 30 September 2025 Sales of goods and services and other income: 280 790 230 763 Orange Polska Group (subsidiaries) 35 97 25 90 Orange Group 77 216 71 201 - Orange S.A. (parent) 53 156 52 147 - Orange Group (excluding parent) 24 60 19 54 Światłowód Inwestycje Group (joint venture) 168 477 134 472 Purchases of goods (including inventories, tangible and intangible assets) and services: (192) (544) (172) (500) Orange Polska Group (subsidiaries) (35) (110) (40) (125) Orange Group (79) (204) (66) (185) - Orange S.A. (parent) (22) (48) (16) (41) - Orange Group (excluding parent) (57) (156) (50) (144) Światłowód Inwestycje Group (joint venture) (78) (230) (66) (190) Financial income: 1 87 33 82 Orange Polska Group (subsidiaries) - 82 30 74 Orange S.A. (parent) 1 5 3 8 Financial expense, net: (59) (148) (52) (150) Orange Polska Group (subsidiaries) (1) (4) (2) (6) Orange Group (58) (143) (50) (142) - Orange S.A. (parent) - 31 24 76 - Orange Group (excluding parent) (58) (174) (74) (218) Światłowód Inwestycje Group (joint venture) - (1) - (2) Other comprehensive income/(loss): 55 25 (22) (80) Orange S.A. (parent) 1 (29) (24) (82) Orange Group (excluding parent) 54 54 2 2 Dividend paid: 406 406 352 352 Orange S.A. (parent) 406 406 352 352 Additionally, during the 9 months ended 30 September 2026 and 2025, the Company transferred, respectively, PLN 34 million and PLN 44 million to Orange S.A. to settle selected liabilities related to roaming on behalf of the Company.
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Orange Polska S.A. Condensed IFRS Quarterly Separate Financial Statements – 30 September 2026 Translation of the financial statements originally issued in Polish 16 (in PLN millions) At 30 September At 31 December 2026 2025 Receivables and contract costs: 341 251 Orange Polska Group (subsidiaries) 60 42 Orange Group 148 101 - Orange S.A. (parent) 58 61 - Orange Group (excluding parent) 90 40 Światłowód Inwestycje Group (joint venture) 133 108 Liabilities: 733 846 Orange Polska Group (subsidiaries) 47 60 Orange Group 92 117 - Orange S.A. (parent) 36 56 - Orange Group (excluding parent) 56 61 Światłowód Inwestycje Group (joint venture) 594 669 Financial receivables: 117 41 Orange Polska Group (subsidiaries) 75 10 Orange Group 42 31 - Orange S.A. (parent) - 31 - Orange Group (excluding parent) 42 - Cash and cash equivalents deposited with: - 120 Orange S.A. (parent) - 120 Financial liabilities: 4,548 4,439 Orange Polska Group (subsidiaries) 195 159 Orange Group 4,255 4,175 - Orange S.A. (parent) 51 4 - Orange Group (excluding parent) 4,204 4,171 Światłowód Inwestycje Group (joint venture) 98 105 Compensation (remuneration, bonuses, post -employment and other long -term benefits, termination indemnities and share-based payment plans - cash and non-monetary benefits) of OPL S.A.’s Management Board and Supervisory Board Members for the 9 months ended 30 September 2026 and 2025 amounted to PLN 20.3 million and PLN 17.7 million, respectively. The increase resulted mainly from the higher estimated cost of share-based payment plans due to Orange Polska share price growth in 2026. Additionally, the President of OPL S.A.’s Management Board has been employed by Orange Global International Mobility S.A., a subsidiary of Orange S.A., and posted to Orange Polska. The amount incurred by the Orange Polska S.A. for the reimbursement of key management personnel costs from the Orange Group for the 9 months ended 30 September 2026 and 2025 amounted to PLN 5.5 million and PLN 4.6 million, respectively. 12. Subsequent events There was no significant event after the end of the reporting period.
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Orange Polska Group Quarterly consolidated report for the 3 months ended 30 September 2026 Translation of the report originally issued in Polish 1 Orange Restricted Pursuant to Art. 68 of the Regulation of the Minister of Finance of 6 June 2025 on current and periodic information to be disclosed by issuers of securities and conditions for recognising as equivalent information required by the laws of a non-member state – Journal of Laws of 2025, item 755, with amendments (“the Decree of the Minister of Finance of 6 June 2025”), the Management Board of Orange Polska S.A. (“OPL S.A.”, “the Company”) discloses the following information: I. Shareholders entitled to exercise at least 5% of total voting rights at the General Meeting of OPL S.A., either directly or through subsidiaries , as at the date of publication of the quarterly report and changes in the ownership structure in the period since the submission of the previous interim report The ownership structure of the Company’s share capital, based on the information available to the Company as at 26 October 2026 , i.e. the date of submission of the quarterly report for the 3 months ended 30 September 2026 was the same as at 27 July 2026, i.e. the date of submission of the interim report for the 6 months ended 30 June 2026: Shareholder Number of shares held Number of votes at the General Meeting of OPL S.A. Percentage of the total number of votes at the General Meeting of OPL S.A. Nominal value of shares held (in PLN) Share in the capital Orange S.A. 664,999,999 664,999,999 50.67 % 1,994,999,997 50.67 % Allianz Polska OFE, DFE pension funds 106,593,007 106,593,007 8.12 % 319,779,021 8.12 % Nationale-Nederlanden OFE, DFE, DFE Nasze Jutro pension funds 86,558,675 86,558,675 6.60 % 259,676,025 6.60 % Other shareholders 454,205,798 454,205,798 34.61 % 1,362,617,394 34.61 % TOTAL 1,312,357,479 1,312,357,479 100.00 % 3,937,072,437 100.00 % II. Statement of changes in ownership of OPL S.A.’s shares or rights to them (options) held by Members of the Management Board and the Supervisory Board of OPL S.A., according to information obtained by OPL S.A., in the period since the submission of the previous quarterly report Ms Jolanta Dudek, the Vice-President of the Management Board of OPL S.A., held 8,474 Orange Polska S.A. shares as at 26 October 2026 and 27 July 2026. Mr Piotr Jaworski, the Member of the Management Board of OPL S.A., held 673 Orange Polska S.A. shares as at 26 October 2026 and 27 July 2026. Mr Maciej Nowohoński, the Member of the Management Board of OPL S.A., held 25,000 Orange Polska S.A. shares as at 26 October 2026 and 27 July 2026. There was no OPL S.A. share held by other members of the Management Board or the Supervisory Board of the Company. III. Management Board’s Position as to the achievement of the previously published financial projections for the given period As announced in the current report 15/2026 of 27 July 2026, the Group forecasts a low-to-mid single digit year-on- year revenue growth , EBITDAaL to grow by more than 6% year -on-year, organic cash flow to amount to at least PLN 1.2 billion and economic capital expenditures at approximately PLN 1.8 billion . Considering the results of the 9 months ended 30 September 2026, the Management Board of Orange Polska S.A. is reiterating the guidance .
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Orange Polska Group Quarterly consolidated report for the 3 months ended 30 September 2026 Translation of the report originally issued in Polish 2 Orange Restricted IV. Factors which, in the opinion of the Group, may affect its results over at least the next quarter Factors that, in the Management Board’s opinion, have influence on the Group’s operations or may have such influence in the near future are presented in chapters 4 and 5 of the Management Board’s Report on the Activity of the Orange Polska Group in the first six months ended 30 June 2026. Additionally, key risk factors that may impact the Group’s operational and financial performance are described in chapter 6 of the above -mentioned Report. V. Foreign exchange rates The statement of financial position data as at 30 September 2026 and 31 December 2025 presented in the table “Selected financial data” was translated into E UR at the average exchange rate s of the National Bank of Poland (“NBP”) at the end of the reporting period . The income statement data, together with the statement of comprehensive income and statement of cash flows data for the 9 months ended 30 September 2026 and 2025, were translated into E UR at the exchange rate s which are the arithmetical average of the average NBP rates published by the NBP on the last day of each month of the 9-month periods ended 30 September 2026 and 2025. The exchange rates used in the translation of the statement of financial position , income statement, statement of comprehensive income and statement of cash flows data are presented below: 1 EUR 30 September 2026 31 December 2025 30 September 2025 Statement of financial position 4.3672 PLN 4.2267 PLN Not applicable Income statement, statement of comprehensive income, statement of cash flows 4.2800 PLN Not applicable 4.2365 PLN