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Orange

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FY2022 Annual Report · Orange
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2022 
Integrated Annual 
Report

2022 
Integrated Annual 
Report

Orange
2
3
Orange at a glance 
04 —
Message from Chairman Jacques Aschenbroich 
06 —
Interview with CEO Christel Heydemann 
08 —
— Lead the Future_ strategic plan 
14
— Key performance indicators 
18
Our strengths
A best-practice governance model 
22 —
An Executive Committee to deliver the new strategic plan
26 —
A compensation policy reflecting the Group’s balanced strategy
28 —
Our business model 
30 —
Trends and opportunities 
34 —
Risk management 
38 —
Ongoing stakeholder dialog 
44 —
Committed, multi-talented teams 
46 —
A financial strategy in line with our CSR commitments 
48 —
A business with ethics at the core
50 —
Our approach to value creation 
Europe 
56 —
Africa and the Middle East 
66 —
Infrastructure 
72 —
Businesses 
84 —
Environment 
92 —
Social factors
100 —
Our impact 
Our results and targets 
112 —
Our contribution to the UN 2030 Agenda 
122 —
Contents
2022 Integrated Annual Report

Orange
2022 Integrated Annual Report
4 
 5 
Orange at a glance 
and a global presence with Orange Business 
Number of fixed broadband customers 
Revenue in 2022 
26
countries 
Europe 
Belgium, France, Luxembourg, Moldova, 
Poland, Romania, Slovakia, Spain
Africa and the Middle East
Botswana, Burkina Faso, Cameroon, 
Central African Republic, Côte d’Ivoire, 
Democratic Republic of the Congo, Egypt, 
Guinea, Guinea-Bissau, Jordan, Liberia, 
Madagascar, Mali, Mauritius, Morocco, 
Senegal, Sierra Leone, Tunisia
Number of customers 
287 m 
241.9 m
136,000
24.3 m
including 13.7 m very high-speed broadband 
(FTTH) customers
€43.5 bn
Number of mobile customers 
Number of employees

6 
Message from Jacques Aschenbroich — 7
Orange
Orange has reached a critical juncture in its history. 
At this very challenging time—with rising inflation, intense competition, 
investment in new technologies, and the omnipresent French regulator 
pushing us to assert our rights and reiterate the commitments we have 
fulfilled—our technological and human resources help us deliver very 
solid financial results and a healthy balance sheet. These results enable 
us to continue making vital investments in our—fixed and mobile— 
infrastructure and improving the quality of the services we offer our 
customers.
In 2022, we put in place a new governance structure separating the 
roles of Chair and Chief Executive Officer. This change was welcomed 
by all Board members according to an external assessment conducted 
at the end of the year. As Chairman, I lead the Board in approving the 
Group’s strategy and overseeing its implementation. As Chief Executive 
Officer, Christel Heydemann has more power to steer the company— 
something she does very enthusiastically and energetically—and 
address 21st-century challenges.
Starting in summer 2022, the Strategy and Technology Committee held 
four meetings to prepare a strategy seminar that took place at the 
beginning of 2023. Its work enabled the Board to prepare and approve 
the Lead the Future strategic plan put forward by the Chief Executive 
Officer. This plan, which was presented to Group shareholders and 
employees on 16 February 2023, plays to our strengths as a provider of 
vital connectivity services and infrastructure.
I have great faith in the ability of Christel, her teams, and all Orange 
employees to implement the strategic plan in a way that benefits all our 
stakeholders, employees, customers, and shareholders.
Jacques Aschenbroich, 
Chairman 
2022 Integrated Annual Report
“At this very challenging 
time for telecom operators, 
our resources help us 
deliver very solid results.”

Christel Heydemann, CEO 
Interview 
8
Orange
9
“Our committed teams 
enable the Group to 
demonstrate its resilience 
and ability to adapt quickly 
to market changes.”

Orange
11
Interview with Christel Heydemann —
How would you sum up your experience since taking up your role as Chief 
Executive Officer in April 2022?
Christel Heydemann: Over the past 12 months, I’ve seen the commitment shown by 
our teams in providing essential digital services in all our operating countries. This is a 
major asset that enables Orange to demonstrate its resilience, ability to adapt to market 
changes, and resolve to deliver service continuity despite national security issues at 
times in Europe and Africa. I am proud of our hard work and collective engagement, as 
they have enabled us to meet all our financial targets. I am very pleased with the new 
governance structure and the productive relationship I have formed with Jacques 
Aschenbroich during our regular constructive discussions.
What is the market context? 
C. H.: It was a difficult year for the telecoms industry, particularly as inflation was back 
on the rise in Europe. We are experiencing a complex and paradoxical situation where 
competition and regulations are putting intense pressure on the profitability of our 
activities at a time where investment in digital infrastructure is more crucial than ever.
The pandemic highlighted the essential role of telecoms and the importance of 
connectivity to individuals and businesses. Network traffic has grown considerably, and 
new challenges have emerged, such as infrastructure resilience, sovereignty, and 
security. To address these challenges, we must continue to innovate and create 
economic, environmental and social value for all our stakeholders, in line with our 
purpose, “As a trusted partner, Orange gives everyone the keys to a responsible digital 
world.”
Why are you calling on Big Tech to help fund network infrastructure? 
C. H.: The five largest tech companies take up 50% to 80% of our network bandwidth at 
certain times of the day, and traffic is expected to continue to grow by 30% per year, 
requiring further network investment. However, telecom operators are the only ones 
currently dealing with the economic, energy and environmental costs associated with 
the increase in network traffic, as the five largest “traffic generators” do not include the 
costs they incur in their economic models. Adjustments need to be made to safeguard 
future network development, without undermining net neutrality.
What do you want the French regulator to do now? 
C. H.: In France, like in all our operating countries, we work in close collaboration with 
the regulator. We expect the regulator to adopt a fair and balanced approach so that we 
can collaboratively build a framework to provide the best possible service to people 
living in France. All relevant information—including economic conditions—needs to be 
taken into account to ensure fair funding for infrastructure.
It’s important to remember that Orange has played a key role in ensuring France has 
one of largest fiber footprints in Europe. To increase fiber availability across the country, 
we need to continue collectively building a viable economic model. Meanwhile, we 
must prepare for copper decommissioning. Our copper network may have fewer users 
due to the migration to fiber, but it is still a vital resource used by millions of people, 
which raises the question of maintenance costs.
How will the new Lead the Future strategic plan you presented in early 2023 help 
improve the Group’s value creation potential?
C. H.: We developed Lead the Future in close collaboration with the new management 
team and the Board of Directors to prepare Orange for years to come. This plan plays to 
our many strengths, particularly our infrastructure and the connectivity services we 
provide to millions of customers. This will help us extract greater value from our core 
business. We began preparing the ground in 2022 by moving forward with plans to sell 
OCS, our premium content service, and consolidate our activities in Belgium and, 
hopefully, Spain and carrying out targeted acquisitions, including cybersecurity firms. 
Lead the Future will help our market positioning as a leading telecom company by 
driving growth and lasting value creation.
Orange’s fiber and mobile networks are a major asset to the company. Where do 
they fit into Lead the Future?
C. H.: Network quality is a differentiator in all our operating countries. Unlike other 
operators, we began investing in fiber-optic infrastructure very early on, both in France 
and around Europe. We know it was a wise decision, as demand for connectivity is higher 
than ever and our networks form a key part of the solution. We’re therefore continuing to 
develop and upgrade our networks while exploring the new uses they make possible.
 10 
2022 Integrated Annual Report
“Lead the Future will help our positioning 
as a leading telecom company by driving 
growth and lasting value creation.”

Orange
13
Interview with Christel Heydemann —
 12
What’s more, we are optimizing the way in which our networks are managed for greater 
operational and environmental efficiency.
Why is Orange Business Services now called Orange Business? 
C. H.: The BtoB market is a difficult environment for all the telecom operators whose 
main sources of income have been impacted by rapid technological change. The 
financial consequences are significant, which is why we are profoundly transforming our 
activities to restore profitable growth in this segment. This has been my priority since 
day one and a number of measures have already been taken. Our priority is to simplify 
our approach—whether that involves our offers or our ways of working—and tap into 
the strength of the Orange brand.
We have therefore given Orange Business Services a new name—Orange Business— 
that reflects our aspirations to deliver simplicity, build closer relationships with our 
customers and become more digitally focused. We will position ourselves as a leading 
provider of next-generation connectivity solutions and continue to accelerate in the 
cybersecurity segment, where we aim to outpace market growth.
What does the new enterprise model introduced alongside the strategic 
plan involve? 
C. H.: As we are facing several challenges at once, our success will depend on our 
ability to develop a new enterprise model based on three pillars: performance, 
excellence, and trust.
We will be focusing on organizational execution and simplification, more shared support 
functions, and a more cross-departmental approach to project monitoring. At all levels, 
the expertise of our teams is central to our strategy. What’s more, we will be doing 
everything in our power to move toward an “ESG by design” model by strengthening all 
aspects of our environmental, social and governance approach. For our purpose to 
resonate, our strategic plan sets out our ambitious digital inclusion and environmental 
objectives. For instance, we aim to reduce our scope 1, 2 and 3 CO2 emissions by 45% 
by 2030 compared with 2020 levels. We will also play an active role in building a society 
based on trust—a growing priority as new technologies are deployed.
What talent development priorities have been identified? 
C. H.: Our industry is constantly evolving, resulting in rapid and profound changes 
across our business lines. Talent development will be key to successfully executing our 
strategy. We will need to adapt our skills to our needs, and support the teams 
throughout these changes in a kind and truthful manner. We will also apply HR policies 
to ensure we can adapt to all circumstances and the growing diversity in our business 
lines, while continuing to pursue our objective of providing the best possible service to 
our customers.
How will innovation drive the Group’s development? 
C. H.: Our capacity for innovation is key to enhancing connectivity services for 
individuals at home and on the move, as well as business and wholesale services. We 
are developing disruptive innovations in our core business (such as networks of the 
future and augmented customer experiences), supporting new global ecosystems and 
fostering innovation that has a positive impact on our customers and society as a whole. 
What guiding principles will Orange follow in the coming year? 
C. H.: As of this year, we will be guided by the three pillars of our new enterprise model— 
performance, excellence, and trust. We will all work together to unlock as much value as 
possible from our core business, make changes where necessary and bolster operations 
in our growth areas. Serving our customers and fostering employee engagement are still 
priorities for us.
2022 Integrated Annual Report
“Demand for connectivity is higher than 
ever and our networks form a key part of 
the solution.”

Orange
14 
Strategy — 15 
Lead the Future —
Orange launched its new strategic plan in February 2023 to build on the excellence 
associated with its core business operations and achieve sustainable growth in 
Europe, as well as Africa and the Middle East. Lead the Future will help Orange 
take advantage of its high-quality infrastructure to improve customer satisfaction, 
reposition its BtoB activities, boost its growth in the cybersecurity sector and 
strengthen its position in Africa and the Middle East.
— We developed the Lead the Future strategic plan to prepare for years to come and take 
advantage of our high-quality core assets, which set us apart in an industry facing a growing 
number of structural and economic challenges (see pages 34-37).
Demand for connectivity and digital services is rising all over the world. Not only do operators 
have to respond to customers’ elevated expectations, but they must also contend with 
increasing competition and regulatory obligations. Telecom stakeholders need to focus on 
making a return on their considerable investments in network upgrades in recent years.
Lead the Future will help Orange respond to these challenges by refocusing on its core 
business as a telecom solutions provider. As a trailblazer in the fiber market, Orange can also 
capitalize on its leadership position in Europe—notably in France—as well as its footprint in 
26 countries worldwide, particularly those in Africa and the Middle East. Orange is also aiming 
to become a leader in the European cybersecurity market and will continue repositioning its 
BtoB activities to meet customer expectations as effectively as possible. A new enterprise 
model is also being introduced to ensure greater efficiency, responsibility, and sustainability.
We will continue to ensure all our decisions align with our purpose. 
Strengthening 
our commitment 
to customer 
excellence
Capitalizing 
on our 
infrastructure 
Orange is the leader in fiber infrastructure deployment 
across Europe, with almost 46 million FTTH connections 
deployed by the end of 2022. Our fiber, 4G and 5G network 
roll-out across many regions ensures we can bring reliable 
and secure connectivity solutions to as many people as 
possible. In rural areas where network coverage is lower, we 
are committed to providing retail and business customers 
with next-generation satellite-based broadband services that 
offer very high speeds. 
Our high-performance networks, coupled with greater use of 
data and artificial intelligence (AI), will enable us to offer all 
our customers tailored connectivity solutions via digital and 
in-person channels.
Lastly, we will leverage the expertise of our innovation teams 
to build new digital services and applications, such as 
on-demand enterprise networks and Wi-Fi of the future for 
homes.
Orange will continue investing in networks to strengthen 
its leadership position within a responsible financial 
framework, engaging in strategic partnerships to share the 
financial costs.
We aim to deploy an additional 5 million fiber connections in 
Europe and 2 million connections in Africa and the Middle 
East between now and 2025. Furthermore, Orange will derive 
greater value from its passive mobile infrastructure assets by 
raising the third-party operator hosting rate across sites held 
by Totem, the Group’s European TowerCo. We will continue 
to transition to more modern networks offering very high 
speeds by decommissioning our copper network in France 
as well as 2G and 3G networks in Europe by 2030. We’ll also 
continue to deploy fixed and mobile networks in Africa and 
the Middle East in line with our plans to extend our coverage 
across the region.
Finally, we will put in place a new management model for our 
networks to boost efficiency, resilience, and performance.
2022 Integrated Annual Report

Orange 
2022 Integrated Annual Report
16 
Strategy — 17 
Repositioning 
our BtoB 
activities and 
developing our 
cybersecurity 
operations
For Lead the Future to be a success, the Group 
needs to develop a more efficient, responsible and 
sustainable enterprise model based on three principles: 
performance, excellence and trust.
In a push for greater organizational efficiency, Orange aims to 
clarify the roles and activities of its governing bodies. We 
want to enhance our operational efficiency by simplifying 
processes, building stronger synergies and promoting 
knowledge transfer across different Group entities. What’s 
more, we will continue our cost control efforts. Having 
achieved more than €700 million in net savings between the 
beginning of 2020 and the end of 2022 through the Scale Up 
operational efficiency program, the Group aims to save an 
additional €600 million between now and 2025. Furthermore, 
incorporating environmental considerations into network, 
product and service design and operations is key to ensuring 
our new enterprise model is robust and resilient. 
We wouldn’t be who we are without our teams. 
To successfully implement Lead the Future, we must support 
talent development by ensuring our teams have the right skills 
for new data, artificial intelligence, cloud-computing and 
cybersecurity roles. What’s more, we aim to achieve 
excellence in our skills to improve customer satisfaction and 
retain our position as the most recommended operator. 
Trust is the cornerstone of our purpose and a key driver of 
economic, social and environmental performance. We will 
continue to build a society based on trust by strengthening 
our leadership position in the cybersecurity market, 
promoting ethical data and AI use and raising awareness of 
digital responsibility. Alongside our aim of achieving net-zero 
carbon emissions by 2040, we pledge to reduce our scope 1, 
2 and 3 CO2 emissions by 45% by 2030 compared with 2020 
levels, including by expanding our circular economy.
Orange is profoundly transforming its activities to adapt 
to the new needs of a market shaken up by disruptive 
technologies such as network virtualization and growing use 
of cloud-based collaborative tools.
Orange Business Services is taking on a new, shorter 
name—Orange Business—that embodies the push for 
simplification behind its transformation plan. Orange 
Business will position itself as a leading provider of 
next-generation connectivity solutions by leveraging its 
proven expertise in secure and trusted connectivity 
solutions, refocusing its portfolio of services, transforming 
its business model and implementing a large-scale cost 
optimization program.
The Group also aims to become a leader in the booming 
European cybersecurity market, targeting €1.3 billion in 
annual revenue by 2025. Orange Cyberdefense will continue 
to pursue organic growth and targeted acquisitions, 
accelerate its push into the business and SME segment and 
move into new markets including BtoC.
Developing 
a new 
enterprise 
model
Continuing 
our growth 
in Africa and 
the Middle East 
The Group sees the Africa and Middle East region as a 
major growth market, achieving an outstanding revenue 
growth of 25% over a three-year period. Orange intends to 
build on this momentum to take advantage of this high-potential 
market driven by population growth and increasing use of 
digital technology. We therefore aim to achieve an average 
annual revenue growth of 7% between 2022 and 2025.
As the telecoms operator chosen by one in 10 people in 
Africa, Orange will continue to invest in deploying fixed and 
mobile networks across the continent. The Group will also 
accelerate the transformation of Orange Money, pivoting 
towards a platform-based model offering new digital services 
in addition to money transfer and payment services. The 
platform will be accessible to everyone, whether or not they 
are Orange customers, in all the Group’s operating countries. 
Proud of its strong presence in local communities, the Group 
will continue to grow this foothold through initiatives such as 
Orange Digital Centers—an innovative network of centers 
that provide support and contribute to digital skills 
development free of charge.
1. Performance 
2. Excellence 
3. Trust

Orange 
2022 Integrated Annual Report
18 
19
2022 
€4.8 bn 
2021 
€2.5 bn 
2020 
€5.5 bn 
Operating income 
€4.8 bn
2022 
€3.1 bn 
2021 
€2.4 bn 
2020 
€2.5 bn
Cash flow from telecom activities 
€3.1 bn
2022 
€977 m
2021 
€838 m 
2020 
€768 m
2022 
29.1 m 
2021 
25.1 m 
2020 
21.9 m 
Revenue generated 
by Orange Cyberdefense 
Number of active 
Orange Money customers 
€977 m
29.1 m
2022 
€43.5 bn 
2021 
€42.5 bn 
2020 
€42.3 bn 
Revenue 
€43.5 bn
2022 
33.1% 
2021 
31.6% 
2020 
31.1% 
Percentage of women in 
management networks 
Number of Fiber-to-the-Home (FTTH) 
connections deployed worldwide
33.1%
2022 
USD 18.7 bn 
2021 
USD 20.2 bn 
2020 
USD 19.4 bn 
Orange brand value 
(BrandZ Top 100 Most Valuable Global Brands)
USD 18.7 bn
2022 
44.0% 
2021 
41.2% 
2020 
39.5% 
Share of IT services in 
the Orange Business revenue mix 
44.0%
2022 
287 m 
2021 
275 m 
2020 
259 m
Number of customers 
287 m
2022 
49.1 m 
2021 
42.3 m 
2020 
37.1 m
49.1 m 
Key performance 
indicators
2022 
52.6 m 
2021 
44.4 m 
2020 
33.0 m
Number of 4G customers 
in Africa and the Middle East 
52.6 m
2022 
23.1% 
2021 
20.4% 
2020 
10.2% 
Collection rate of unwanted mobiles 
by Europe
23.1%
2022 
1.24 Mt 
2021 
1.33 Mt 
2020 
1.27 Mt 
2022 
37.8% 
2021 
36.3% 
2020 
31.0% 
Scope 1 and 2 CO2 emissions 
(Mt = metric megatons) 
Percentage of electricity from 
renewable sources
1.24 Mt 
37.8%
* 
** 
** 
**
*
Comparable data 
**
Published historical data 

 20 
21
Orange
Our 
strengths 
Orange has several key assets to boost its market 
potential. Our business model creates value, 
our teams demonstrate their expertise and 
commitment, our financing methods are diverse 
and sustainable, and our ethical business conduct 
builds trust among all our stakeholders.

Orange 
2022 Integrated Annual Report
22 
Our strengths — 23
Strategic expertise
12  Telecoms/Technology/Digital/ 
Media  
6 Banking/Finance
4 Industry
5 Retail 
International experience
12 Europe (including France)  
9 Americas
5 Asia
7 Africa/Middle East
A best-practice governance 
model
Orange separated the roles of Chair and Chief Executive Officer in 2022. 
While independent director and non-executive Chairman Jacques Aschenbroich 
oversees the Board of Directors, CEO Christel Heydemann is responsible for 
coordinating the Group’s executive management team. This governance model 
ensures compliance with the principles of separation of powers, and 
independence from management, leading to better monitoring and oversight.
Balanced expertise to help us fulfil our purpose and strategy 
— At the end of 2022, the Board was made up of 15 members, each appointed for a 
four-year term of office, bringing together a balanced range of corporate expertise and skills 
to help fulfil Orange’s strategy and purpose. In line with the Afep-Medef code, seven Board 
members are independent directors. When Orange split the roles of Chair and Chief 
Executive Officer in 2022, it put in place a completely new governance structure in line with 
best practices.
Governance and Corporate Social 
and Environmental Responsibility 
Committee
Calculation of corporate officers’ and 
directors’ variable compensation
Governance arrangements and processes 
of the Board
Identification of suitable replacements for 
outgoing Board members
Review of the Group’s main CSR priorities 
(i.e., to fulfil its purpose, address social and 
environmental challenges, ensure ethical 
business conduct and compliance, etc.) and 
monitoring of their implementation
Monitoring of changes in employee 
barometer indicators and the policy on 
workplace gender equality and pay equity
Strategy and Technology Committee
Review of major projects carried out in preparation 
for the establishment of the new strategic plan
Review of multi-year investment programs and major 
technological partnerships
Review of the Group’s innovation and research 
objectives and the value they offer in terms of 
products, services or uses
Audit Committee
    
    
Financial reporting (annual and half-yearly accounts, 
quarterly results, the Group’s budget)
Debt and liquidity management
Development projects (including in Europe and 
Africa and the Middle East) and strategic planning
Risk management and internal control, ethics
Fees and operating conditions for statutory auditors
Overview of the work carried out by the committees in 2022 
The Board’s deliverables in 2022
— The Board of Directors sets the Group’s major strategic, economic, social, environmental, 
financial and technological policies and oversees their effective implementation by executive 
management. It held 13 meetings in 2022, with an average attendance rate of 95.1%. It 
implemented the Group’s new governance structure, reviewed the impact of the war in 
Ukraine on the Group’s activities and teams in Russia and operating countries bordering 
Ukraine (Poland, Slovakia, Romania, and Moldova), and discussed the repercussions of the 
European energy crisis. It also reviewed the proposed merger between Orange Spain and 
MásMóvil and approved plans to participate in the Spanish auction of frequencies in the 
26 GHz band—the last remaining spectrum option for 5G network operators. What’s more, 
the Board approved the sale of Orange Studio and Orange’s interests in OCS to the Canal+ 
Group and the extension of agreements relating to BuyIn, a 50:50 joint venture between 
Orange and Deutsche Telekom.
Support from three specialized committees 
— The Board is held to account by three separate committees that provide proposals, 
recommendations and opinions in their respective areas of expertise—the Audit Committee, 
the Governance and Corporate Social and Environmental Responsibility Committee 
(GCSERC), and the Strategy and Technology Committee (STC). Each committee is chaired 
by an independent director and includes at least one director representing employees and 
one representing the public sector.
Corporate expertise
11  HR & employee support
9  M&A and investor relations
8  Finance/Audit/Accounting/Risk
8  Executive management
2  Production/Supply chain
6  Regulatory framework 
10  Legal/Compliance/Governance/Ethics   
10  CSR & sustainable development
(4: climate and the environment)
7  Sales/Marketing
8  Innovation & technology
Balanced and varied skills on the Board (as of 15 February 2023) 
Based on an external consultant’s assessment of the 15 Board members

Orange 
2022 Integrated Annual Report
24 
Our strengths — 25
1. 
2.
4.
7.
10. 
3. 
5.
8.
11. 
6.
9. 
12. 
13. 
14. 
15. 
Board of Directors
independent directors 
Average age 
Average number of 
years of service 
men 
63.6%
55.9 years old 
4.1 years 
45% 55%
As of 15 February 2023 
The above percentages exclude directors representing employees and employee shareholders.
women
1.
Jacques Aschenbroich
Chairman, independent director
2.
Christel Heydemann
Chief Executive Officer, director 
3.
Valérie Beaulieu
Independent director
4.  Stéphanie Besnier
Director representing the French State
5. Alexandre Bompard
Independent director 
6. Thierry Chatelier 
Director representing employee shareholders 
7. Sébastien Crozier
Director representing employees 
8. Vincent Gimeno
Director representing employees 
9. Anne-Gabrielle Heilbronner 
Independent director, Chairwoman of the GCSERC 
10. Anne Lange
Director elected at the suggestion of the French State 
11. Bernard Ramanantsoa
Independent director, Chairman of the Audit Committee 
12. Frédéric Sanchez
Independent director, Chairman of the STC 
13.  Jean-Michel Severino
Independent director 
14. Thierry Sommelet
 Director representing Bpifrance Participations 
15.  Magali Vallée
Director representing employees

Orange
26 
Our strengths — 27
An Executive Committee 
to deliver the new strategic plan 
The Executive Committee is responsible for leading the operational 
management of the Group’s business activities and, since early 2023, 
overseeing the deployment of Lead the Future, Orange’s new strategic plan. 
— The Executive Committee, acting under the authority of CEO Christel Heydemann since 
her appointment in April 2022, coordinates the implementation of the Group’s strategy. 
A new strategic plan 
— In 2022, the Executive Committee played a key role in preparing Lead the Future—the 
new strategic plan developed by Orange to build on its core business excellence and 
achieve sustainable growth in Europe, as well as Africa and the Middle East. Since the 
launch of Lead the Future, the Committee has been busy steering the plan’s implementation 
and addressing economic and structural challenges facing the sector.
A new management team
— The composition of the Executive Committee has been adapted to reflect the changes 
brought about by the new strategic plan. Over half of members have taken up their positions in 
the last 12 months. A new division, Orange Wholesale, was created in February 2023 to 
support the Group’s ambitions as regards infrastructure and international networks and derive 
higher value from the Group’s assets in markets where we provide products and services to 
third-party operators. Accountable to executive management, a team has also been tasked 
with helping to make our enterprise model more efficient, responsible and sustainable.
Christel 
Heydemann,
Chief Executive 
Officer
Jean-François 
Fallacher,
Executive 
Vice President, 
CEO of Orange France
Hugues Foulon,
Executive 
Vice President, 
CEO of 
Orange Cyberdefense 
As of 3 April 2023
2022 Integrated Annual Report
Jérôme Hénique,
Executive 
Vice President, 
CEO of Orange Middle 
East and Africa (OMEA) 
Mari-Noëlle 
Jégo-Laveissière,
Executive Vice 
President, CEO 
of Orange in Europe 
(outside France)
Aliette 
Mousnier-Lompré,
Executive 
Vice President, 
CEO of 
Orange Business
 Michaël Trabbia,
Executive 
Vice President, 
CEO of Orange 
Wholesale, and 
Chief Technology and 
Innovation Officer*
 Élizabeth Tchoungui,
Executive 
Vice President 
Corporate Social 
Responsibility
Jean-Michel Thibaud,
Interim Executive 
Vice President 
Finance, Performance 
and Development** 
Caroline Guillaumin,
Executive 
Vice President 
Communication
 Fabienne Dulac,
Executive 
Vice President 
Transformation 
Nicolas Guérin,
Secretary-General 
for the Group 
and Secretary 
of the Board of 
Directors 
Vincent Lecerf,
Executive 
Vice President 
Human Resources
*
Bruno Zerbib will take up his role as Chief Technology and Innovation Officer on 1 June 2023. 
**  Laurent Martinez will take up his role as Executive Vice President Finance, Performance and Development
on 1 September 2023.

Orange 
2022 Integrated Annual Report
28
A compensation policy reflecting 
the Group’s balanced strategy
The Orange compensation policy for senior executives is not just a 
management tool for attracting, motivating and retaining the talent we need. 
It also meets the expectations of shareholders and other stakeholders in terms 
of full transparency and with regard to performance and the fulfilment of CSR 
commitments.
29
Our strengths —
A balanced and measured compensation policy 
— Each year, the Board of Directors assesses the compensation due to Orange’s corporate 
officers on the basis of recommendations made by the Governance and Corporate Social 
and Environmental Responsibility Committee. It is also subject to approval at the 
Shareholders’ Meeting as part of shareholders’ Say on Pay. We implement our Corporate 
Social and Environmental Responsibility strategy by incorporating non-financial 
performance criteria into the compensation packages of corporate officers and members of 
the Executive Committee. These criteria include social indicators, such as the rate of 
women’s participation in management networks, levels of access to training, the 
Group-wide Employee Barometer, and environmental indicators, including reduction in 
CO2 emissions. 
The three pillars of executive compensation 
Fixed compensation 
— The fixed compensation of corporate officers is determined by the level and complexity 
of their responsibilities, their experience and professional background, and market analysis 
for comparable positions. In collaboration with a benchmarking consultancy, we regularly 
conduct studies to ensure our compensation levels and structures are competitive relative 
to those of similarly sized and complex companies. 
Variable compensation 
— Variable compensation is intended to give corporate officers an incentive to fulfil the 
annual performance targets set by the Board of Directors in line with the corporate strategy. 
The variable component is split into levels of performance with a balanced weighting 
between financial (50%) and non-financial (50%) criteria. While the ratio between the 
variable and fixed components of the total annual compensation awarded to the Chief 
Executive Officer was approximately 1:1 in 2022, it can reach 1.5:1 when targets are 
exceeded.
Performance shares 
— Corporate officers benefit from performance share grants under the Long-Term Incentive 
Plan (LTIP) when they contribute to medium- and long-term value creation for the company 
in line with the expectations of shareholders. Performance is measured over a three-year 
period and is based on criteria that take into account the direct contribution of executives to 
the long-term overall performance of the company. The plan is open to members of the 
Executive Committee, as well as executive and leadership networks.
The compensation package for the Chief Executive Officer also includes a 
defined-contribution retirement plan and, where relevant, non-cash benefits (such as 
company cars and medical check-ups).
Chief Executive Officer 
2022 Compensation 
(from 4 April)
34% 
Annual fixed compensation 
 32% 
Annual variable compensation 
 27% 
Multi-year variable compensation
7% 
Defined-contribution retirement plan
Criteria and weightings 
for the 2022 target annual variable compensation 
Financial criteria
15% 
Organic revenue growth
15% 
Organic cash flow from telecoms activities
20% 
EBITDAaL
Non-financial criteria
17% 
BtoC and BtoB service quality
33% 
Social performance
for the target multi-year variable compensation 
Performance share plan 2022-2024 
Performance indicators
30% 
Total shareholder return (TSR) 
50% 
Organic cash flow from telecoms activities
20% 
 Composite CSR indicator  
(reduction in CO2 emissions: 10%;  
rate of women’s participation in management 
networks: 10%)

30 
Our business 
model
Building, rolling out and 
providing mutualized solutions 
for digital infrastructure
Operating fixed and mobile 
networks
Offering connectivity, 
financial, IT and 
cybersecurity services 
Orange

Value created
Assets
People
136,000 employees 
8,000 working in research and innovation, 
including 680 as researchers 
2,700 cybersecurity experts 
33.1% of women in management networks 
Industrial assets 
Fiber: 64.9 m FTTH connectable homes 
worldwide, with 45.9 m connections 
deployed by Orange in Europe 
70,000 mobile towers worldwide and 
450,000 km of submarine cables owned and 
co-owned 
4G coverage reaching an average of nearly 
99% of the population in Orange’s 
8 operating countries in Europe 
and 17 operating countries in Africa and the 
Middle East 
5G rolled out in 7 European countries and 
1 African country 
32 cyber threat detection centers worldwide 
3% of ITN* equipment purchases made up of 
refurbished products
Commercial assets 
USD 18.7 bn: Orange’s brand value in 2022 
(BrandZ ranking) 
4,900 stores across the world and 
1.5 m resellers in Africa and the Middle East 
43,400 employees in customer-facing roles 
50% of customer support requests resolved 
via digital channels 
1.8% of refurbished mobile devices sold in 
Europe
Financial assets
€35 bn in equity 
7.64% of shareholder base made up of 
employees and former employees 
1.93×: satisfactory debt ratio 
€500 m worth of sustainability bonds issued 
in 2022
Suppliers and partners 
37.8% of the Group’s electricity derived from 
renewable sources 
96% of suppliers committed to complying 
with the Code of Conduct (ESG) 
BuyIn, a joint venture between Orange and 
Deutsche Telekom to optimize strategic and 
sustainable procurement activities
Our purpose: 
As a trusted 
partner, 
Orange gives 
everyone 
the keys to 
a responsible 
digital world.
A major and responsible employer 
11.6 m customers respectively) 
29.1 m active Orange Money customers 
2 m Orange Bank customers in Europe 
45,000 malicious websites blocked each year 
11,900 recruitments on unlimited contracts  
in 2022 
85% of employees say they are proud to  
work at Orange 
91% of employees completed at least 
one training program in 2022
Providing an essential service 
No.1 for mobile network quality in France 
for the 12th year running (Arcep) 
Leadership position in the European fiber 
and convergence markets (with 12.9 m and
Responsible and open innovation 
5 research chairs funded 
Awarded the GEEIS-AI label for inclusive 
artificial intelligence 
17 Orange 5G Labs 
53 start-ups backed by Orange Ventures since 
2015, 7 of which for the first time in 2022 
Solid financial performance 
Revenue: €43.5 bn 
EBITDAaL: €13 bn 
Operating income: €4.8 bn 
Organic cash flow from telecoms 
activities: €3.1 bn 
Dividends paid: €2.2 bn
A controlled environmental impact 
20.8% reduction in scope 1 and 2 
CO2 emissions between 2015 and 2022** 
23.1%: collection rate of unwanted mobiles 
by Europe
Progress towards digital equality 
1 m participants in our digital workshops and 
training courses since 2021 
23 countries offering affordable smartphones  
with internet access 
4 European countries with special offers for 
low-income households 
18 Orange Digital Centers
Responsible and ethical working relationships 
549 corrective action plans carried out after CSR 
audits conducted under the JAC*** 
€17 m spent on goods and services from 
companies in the sheltered employment sector
2022 Data
31
Our strengths —
2022 Integrated Annual Report
*
IT & network 
** On a comparable basis 
***  Joint Alliance for CSR: an association of telecoms operators that seeks to audit,
assess, and develop the implementation of CSR principles

Orange 
2022 Integrated Annual Report
32 
Our business model 
Building infrastructure and operating networks
— Orange, France’s incumbent telecoms operator, is a leading digital company in Europe and 
around the world. The fixed and mobile networks we roll out and operate reach individuals in 
26 countries in Europe, Africa and the Middle East, and businesses in almost 220 countries and 
regions. We leverage our unique expertise to design, deploy, maintain, and provide mutualized 
infrastructure solutions that enable essential digital services. Our priority is to develop 
high-performance, secure, and resilient networks with significantly lower carbon footprints.
Orange is the leader in fiber-optic infrastructure deployment across Europe, with almost 
46 million FTTH connections deployed by the end of 2022. Our two European FiberCos are 
committed to expanding fiber coverage in rural areas. The Group has adopted a targeted and 
responsible approach to deploying 5G in Europe and Africa, focusing on busy areas with high 
connectivity needs and 4G networks nearing saturation. Our customers living in remote areas 
can also now access very high-speed broadband using satellite technology. The Group 
co-owns 450,000 km of submarine cables worldwide and supports digital sovereignty in 
Europe through a network of data centers. Its subsidiary Totem, one of the leading TowerCos in 
Europe, strengthens Orange’s position as a manager and operator of passive mobile 
infrastructure.
We deploy our expertise across the entire digital value chain to provide 
our retail, business, and wholesale customers with highly tailored responses to 
their needs while creating lasting value for all our stakeholders.
Offering connectivity, financial, IT and cybersecurity services 
— Our business model revolves around delivering reliable services and a high-quality customer 
experience. The strength of the Orange brand, the extent of our physical distribution network 
(4,900 stores across the world and 1.5 million resellers in Africa and the Middle East), our digital 
channels, and our commitment to developing accessible and inclusive products and services 
enable us to provide trusted digital services that meet all our customers’ needs and expectations. 
The deployment of very high-speed (fiber, 4G, 5G, etc.) networks ensures we can bring 
connectivity solutions to all our retail, business and wholesale customers. The Group has 
11.6 million convergent fixed and mobile customers. Orange provides innovative, 
value-creating mobile services to retail and business customers, drawing on its experience 
as an infrastructure operator and a connectivity solution provider. 
We enable 29.1 million active Orange Money customers in Africa and the Middle East to complete 
financial transactions quickly and easily on the move. Orange’s mobile financial services are 
used by 2 million Orange Bank customers in Europe and 1.1 million customers in Africa. 
Our IT services (related to cybersecurity, cloud computing, artificial intelligence, data analysis, 
etc.) contribute to business digital transformation. We offer businesses innovative solutions 
that reflect the changes occurring in their sectors and enable them to improve their economic 
performance.
With 2,700 experts and 32 cyber threat detection centers, Orange Cyberdefense has emerged 
as a leading provider of cybersecurity services in Europe.
Creating value for all our stakeholders 
— Our aim is to create value for our shareholders, customers, employees, and society as a 
whole (see pages 112-113 for more information on value sharing). We are committed to 
enhancing the profitability and financial value of our business for our shareholder base, 
7.64% of which is made up of employees and former employees. As an operator, we continue 
to upgrade our networks to enhance connectivity, help customers build their digital skills, and 
support businesses and regions.
Orange invests in its teams’ skills development, supports new ways of working and promotes 
gender diversity in all areas of the business.
We comply with exacting criteria as regards responsible procurement, ethics, and human 
rights across our value chain. Aware of the urgent need for environmental action, we 
constantly strive to improve the energy efficiency of our networks, buildings, and modes of 
transport and increase the percentage of our electricity coming from renewable sources. 
What’s more, we integrate circular economy thinking into our procurement strategy, 
production processes, and industries to ensure more products and services are designed in 
an eco-friendly way, prolonging the lifespan of products and equipment.
33
Our strengths —

Orange 
2022 Integrated Annual Report
34 
Our strengths — 35
Trends and 
opportunities 
Billions of people around the world use digital services on a daily basis. 
Driven by innovative technologies and a surge in demand, these services play 
a key role in responding to economic, environmental and social challenges. 
Telecom operators have to remain agile and adapt their business to respond 
to unprecedentedly complex challenges.
Essential digital services 
Innovation with 
a positive impact 
— Global demand for connectivity and 
digital services is continuously increasing. 
New public and business uses are 
contributing to the rise in network traffic. 
Public and private sectors are undergoing 
digital transformations as essential services 
such as education, healthcare and finance 
move online. To meet this demand as well as 
financial and environmental requirements, 
telecom operators must deploy very 
high-speed (fiber, 4G, 5G, satellite) networks 
while also decommissioning previous 
generations of networks (2G, 3G, copper). 
— Fueled by a dynamic ecosystem, 
technological innovation brings endless 
possibilities—network functions 
virtualization, the emergence of 
connectivity-as-a-service solutions that can 
be ordered and configured on demand, the 
use of data and AI—that are being 
developed and tested but must also be 
challenged. As a key driver of growth, 
innovation must be approached in a 
purposeful manner that has a positive 
impact on individuals and society as a 
whole. 
Opportunities
 Vital telecom services to keep businesses 
and consumers connected
Solutions development to meet the 
growth in demand
Inclusive and affordable digital offers
Support for responsible uses
Maintenance of economic activity and 
social ties
    
    
    
    
Opportunities
   
    
    
 Development of digital services with  
a positive impact
Improved customer experience
Operational efficiency
Network energy efficiency
Ratio between the energy consumption of a fixed 
fiber-optic line and that of an STN/ADSL line
Source: French telecom federation, 2022
1/3:1 
Global mobile data traffic is set to increase 
more than threefold in the next six years.
Source: GSMA, 2022 
Percentage of people in Africa with 
internet access in 2022
Source: International Telecommunication Union (ITU) 
Number of 5G users worldwide 
at the end of 2022 
Source: Ericsson Mobility Report 2022
1 bn 
3.6-fold 
40%

Orange 
2022 Integrated Annual Report
36 
Our strengths — 37
Increasingly competitive 
talent race
Necessary protection for 
data and infrastructure
Heightened uncertainty amid 
economic turmoil
Proactive environmental 
responsibility
— In an increasingly digital world, operators 
need to do more to fulfil their net-zero 
carbon objectives, limit the use of rare 
resources and protect biodiversity. Possible 
future steps include promoting the circular 
economy, using renewables and developing 
solutions to reduce greenhouse gas 
emissions. As extreme weather events 
become more frequent and intense, 
infrastructure resilience becomes more 
critically important to the sector.
— Companies in certain sectors, including 
cybersecurity, are facing recruitment 
difficulties owing to the widespread demand 
for workers with relevant skills. To appeal to 
potential hires while retaining their existing 
employees, companies need to promote 
skills development, provide meaningful and 
stimulating work opportunities, support 
employees’ work-life balance and build a 
workplace culture that promotes human 
rights, ethics, diversity and inclusion.
— Aside from the devastating impact on 
people’s lives, the ongoing geopolitical 
conflict has triggered an energy crisis and 
shortages, shaking entire economies. 
Telecom operators therefore have to contend 
with a global slowdown, as well as more 
intense competition and rising inflation in 
Europe. This uncertainty is forcing them to 
rethink their supply chains and seize 
opportunities to sustainably transform 
business models and focus on growth in 
certain regions, such as Africa and the 
Middle East.
— In an increasingly challenging cyber threat 
landscape, the sector must be able to 
safeguard the integrity of data and physical 
infrastructure. The European Union has 
established a framework to protect citizens 
and businesses in this risk-filled environment. 
Operators looking to tap into the booming 
cybersecurity market need to integrate the 
notion of trust into each of their services.
Average cost of data loss for a business 
in 2022 
Source: Dell Technologies, 2022 
Number of mobile phones thrown out worldwide 
in 2022
Source: WEEE Forum, 2022 
USD 1.06 m 
5.3 bn 
Increase in the number of cyberattack victims 
in Europe between 2021 and 2022 
Source: Orange Cyberdefense, 2023
Percentage of global greenhouse gas emissions 
caused by the digital sector
Source: The Shift Project, 2021
18% 
3.5%
Number of workers that need to be trained by 2030 
to meet the demand for digital services in Africa
Source: BCG, 2022 
Annual rate of population growth in 
sub-Saharan Africa between 2022 and 2030 
Source: UN, 2022 
650 m
2.5% 
Number of cybersecurity vacancies worldwide 
Source: Orange, 2022 
Global growth rate in 2023 
Source: IMF, 2023
2.8% (compared with 3.4% in 2022)
> 3.5 m 
Opportunities
 Development of advanced cybersecurity 
solutions
    Increase in network expertise
    Development of trusted services for 
individuals, businesses and governments
    Investments in network resilience 
Opportunities
 Employer reputation and appeal
    Agility and operational efficiency
    Skills acquisition support and shift 
towards new business opportunities
Opportunities
 Growth in Africa and the Middle East
    Consolidation in the European telecom 
market
    Transformation to a sustainable business 
model
    Contained price increases to help offset 
soaring operating costs, particularly 
those related to energy for fixed and 
mobile networks 
Opportunities
 Reduction of the Group’s environmental 
footprint through the use of digital 
technology
    Offers that reduce our (retail, business, 
etc.) customers’ environmental footprint
   Development of the circular economy
    Support to ensure all Group stakeholders 
reduce their CO2 emissions

Orange 
2022 Integrated Annual Report
38 
Risk management
— Orange has the structure, procedures and systems in place to anticipate risks and 
implement targeted measures to prevent and mitigate them. The goal is to provide reasonable 
assurance about the company’s resilience and its ability to meet its objectives and fulfill its 
commitments, in line with its purpose and in compliance with applicable laws and regulations. 
The Group’s Risk Committee helps executive management report on risk management 
activities to the Audit Committee and the Board of Directors. Spearheaded by the Group Audit, 
Control and Risk Management Department and assisted by security, compliance and CSR 
teams, the Risk Committee monitors our main risks, ensures the internal control and audit 
plans are consistent with objectives and advises executive management on adapting our risk 
management and internal control framework in response to the latest geopolitical, economic, 
social and health developments. The committee meets at least four times a year.
The Audit Committee discusses the existence, monitoring and effectiveness of risk 
management during an annual meeting which also considers the overall risk map, the risk 
management process and the main risks facing the Group. The operations and risk 
management framework is based on a cross-disciplinary and collaborative structure following 
the three lines of defense (see model on page 62 of the 2022 Universal Registration Document). 
The effectiveness of this structure and the procedures involved are assessed on an ongoing 
basis, in line with the company’s strategy and the materiality of the risks identified.
The following pages focus on 14 themes that emerged from the 27 risks outlined in the 2022 Universal Registration Document (URD). 
For more information, see the Vigilance Plan and Section 2.1 (Risk factors and business control framework) of the 2022 URD.
In an ever-changing environment where certain risks must be taken to seize 
opportunities and address new technological, economic and social 
challenges, our risk management framework helps ensure we deliver on our 
purpose so that our stakeholders continue to place their trust in us.
Geopolitical 
and macro- 
economic 
instability
Overreliance 
on a 
supplier
Business 
model and 
strategy 
Description and impact: concentration of offerings, dominance of 
certain suppliers and increased outsourcing, against a backdrop of 
global geopolitical tensions, impacting on supply chains and service 
continuity, particularly in the event of unilateral withdrawal of a key 
supplier; unfair contractual terms imposed by a supplier or 
decisions made by a State or an authority that interfere with 
business operations. 
Examples of protection/prevention measures: Our purchasing 
policies include a risk assessment in the supplier selection and 
monitoring process. We regularly update our procurement and 
diversification strategy to make our supply chain and business 
dealings more secure. We ask our suppliers to choose recycled 
resources over rare materials and frequently review our 
choice of suppliers. 
Description and impact: shortage of strategic resources; shift 
toward digital sobriety; growing distrust of or aversion to new 
technology; increased competition including in core network 
activities; the rise of new stakeholders; loss of contact with 
customers; loss of control of key infrastructure; multiplication of 
legal and regulatory constraints; reassessment of the value chain; 
failed transformation; unfulfilled financial and non-financial 
ambitions. 
Examples of protection/prevention measures: Our new strategy is 
guided by our purpose, which has been incorporated into our bylaws 
(see pages 14-17). What’s more, we continue to implement 
operational efficiency programs and enter into partnerships and 
invest in ventures that will further our strategic priorities.
Description and impact: growing number of crises or conflicts that 
could lead to harm to individuals or damage to assets (whether as a 
result of conflation with the French State or not), business 
disruption, increased legal and regulatory pressure or international 
sanctions; increased pressure on certain local infrastructure as a 
result of migrant crises; economic crisis (inflation); decline in 
financial performance; impairment loss. 
Examples of protection/prevention measures: We use 
monitoring and alert systems to anticipate a number of eventualities 
including national and international conflicts and tensions. These 
systems help us take appropriate steps to avoid or mitigate the 
risks, protect people and assets and ensure business continuity. 
Additionally, we support local communities through targeted 
initiatives and the Orange Foundation network.
39
Our strengths —

Orange 
2022 Integrated Annual Report
40
Data and 
information 
breach
Damage to 
tangible assets 
Innovation 
Description and impact: events* that may compromise information 
and data integrity, confidentiality or storage, threaten business 
continuity or invade individuals’ privacy (cases of non-compliance 
with legislation on protecting personal data or human rights and 
fundamental freedoms). 
Examples of protection/prevention measures: Our comprehensive 
security system improves measures to protect our infrastructure, 
products and services through a Security by Design approach and 
targeted mechanisms to supervise our networks and IT systems. Our 
Data Protection Officer coordinates all privacy-related programs and 
measures.
Description and impact: loss in quality, disruption or interruption of 
services provided due to a technical malfunction, operational or 
supply chain failure, cyberattack, deliberate or accidental damage to 
our infrastructure or our partners’ infrastructure, capacity saturation 
related to exceptional events or the loss of licenses or usage rights, or 
following injunctions from authorities. 
Examples of protection/prevention measures: We deploy the 
Business Continuity Management System (BCMS) across our 
business units. We take measures to protect our networks 
(monitoring, preventive and corrective maintenance operations, 
ensuring solutions are as resilient as possible right from the design 
phase, etc.). We invest in innovative solutions. We occasionally 
purchase additional capacity based on our network requirements.
Description and impact: extensive damage to or destruction of 
Orange equipment due to accidental causes, malicious interference 
(e.g., in the context of conflicts or social or activist movements) or 
natural disasters (an increasingly common occurrence with climate 
change) that could cause major business disruption or negatively 
affect service quality; insurance coverage excluding certain events 
(e.g., major disasters). 
Examples of protection/prevention measures: Our Business 
Continuity Management System (BCMS) and comprehensive 
security system improve measures to protect our infrastructure 
through a Security by Design approach and targeted mechanisms 
(supervising our networks and IT systems, moving infrastructure as 
a preventive measure, supporting equipment redundancy, etc.). 
Description and impact: inability to provide innovative products 
and services against a backdrop of energy saving policies and 
shortages of strategic resources; drop in performance due to 
disruptive technology or economic or social change; 
distrust of digital technology. 
Examples of protection/prevention measures: Innovation and 
R&D activities have their own entity. Our investment policies 
support research and innovation. We participate in standard-setting 
bodies. We have set up a center of excellence to ensure our products 
and services follow eco-design principles and offer positive-impact 
innovations. We are in the process of upgrading our infrastructure. 
We help members of the public learn how to use digital tools*.
Major 
business 
disruption 
Electro- 
magnetic 
waves/fields 
Description and impact: potential impact of prolonged exposure 
to electromagnetic waves on human health or biodiversity, yet to be 
scientifically confirmed; distrust hampering the development of 
digital technology or leading to an increase in litigation and a 
reduction in the number of customers and their level of use; 
strengthening of legal safeguards regarding mobile and internet use 
and related infrastructure. 
Examples of protection/prevention measures: We ensure 
compliance with current health regulations and follow the standards 
set by the International Commission on Non-Ionizing Radiation 
Protection (ICNIRP), particularly in relation to 5G. We support 
epidemiological research programs (led by the WHO, etc.) and 
transparency*, develop tools to measure wave intensity and raise 
awareness about responsible digital usage. 
Management 
of investments 
Description and impact: difficulty in making investments due to 
insufficient human, industrial or financial resources; access to finance 
and internal financing capabilities impacted by a poor credit rating due to 
external factors (sector, country, etc.), deterioration in financial or 
non-financial indicators, depreciation of assets or liquidity crises; 
obsolescence, undersizing or late provision of key infrastructure. 
Examples of protection/prevention measures: Our financing 
strategy aligns with our commitments to deploy and upgrade networks 
(through joint financing, partnership, and mutualized and shared 
infrastructure solutions) in response to high demand for connectivity as a 
result of changing uses. We have implemented internal financial control 
processes to safeguard transactions. We obtain financing through 
diverse sources. We are rigorous in our approach to cash flow 
and debt management (see pages 31 and 112-117).
41
Our strengths —
* Unauthorized access to data, 
cyberattacks, injunctions from 
authorities, new technology not
yet fully mastered, issues with a 
change management process, 
failure of partners to protect 
externalized data, etc.
* radio-waves.orange.com/en/ 
* Including France-based 
bienvivreledigital.orange.fr
website users 

2022 Integrated Annual Report
Orange
42 
Compliance 
with laws, 
regulations 
or contractual 
obligations
Ethics and 
governance 
Description and impact: administrative, civil or criminal sanctions 
at local or international level or revocation of business licenses in an 
increasingly litigious economic environment where laws and 
regulations—particularly those with an extraterritorial reach—are 
instrumentalized; additional costs to achieve compliance in 
particular in areas where the legal framework has not yet been 
determined or remains in flux (IoT, AI, blockchain, cloud computing, 
etc.). 
Examples of protection/prevention measures: The Group’s Legal 
Department ensures all our operating regions and businesses are 
covered in this respect, including the programs focused on key 
issues, such as GDPR, duty of vigilance law, monitoring of 
international economic sanctions, international anti-corruption laws 
and climate reporting (TCFD, etc.).
Description and impact: organizational vulnerability or inadequate 
governance to meet the needs of the company and the 
expectations of its stakeholders; inconsistency of individual or 
group conduct with business ethics; damage to the Group’s image 
and reputation due to an ethical breach; loss of trust among 
stakeholders due to the Group’s failure to identify internal or 
external fraud, particularly when it affects customers; discredit to 
the Group’s purpose; sanctions against the company and/or its 
employees. 
Examples of protection/prevention measures: The Group has 
strengthened its commitment to CSR. For instance, the Action 
Committee—an independent body with internal and external 
members—and the Data and AI Ethics Council monitor 
the Group’s progress in fulfilling its purpose. 
The Governance and Corporate Social and Environmental 
Responsibility Committee ensures employees adhere to our 
charters and policies and oversees the related compliance 
programs. We regularly run employee training and awareness 
programs. We take the expectations of stakeholders into account 
as part of our holistic risk management approach (ERM 360°). The 
associated management and control systems undergo regular 
internal and external assessments.
Health and 
safety of people 
Description and impact: physical and mental harm to employees, 
customers and partners as a result of activities in high-risk 
countries or regions, a decline in working conditions against a 
backdrop of significant internal changes, increasing use of virtual 
communication and major changes to ways of working, which can 
pose psychosocial risks (isolation, information overload, etc.). 
Examples of protection/prevention measures: We pursue an 
ambitious policy to safeguard the health and safety of employees 
and continue to improve their quality of life at work through various 
agreements put in place to reflect ongoing dialog with employee 
representatives. We have deployed a Vigilance Plan. We conduct 
CSR audits as part of the JAC*. We provide targeted training 
courses and access to occupational health specialists 
(preventionists, doctors, etc.).
Environment/ 
Fight against 
climate change 
Description and impact: any event that could prevent Orange from 
fulfilling its commitments as regards minimizing its environmental 
footprint and that of its value chain, constrained by the development 
of uses, the choice of technologies and supply chain factors; failure of 
the Group’s transition and energy efficiency programs. 
Examples of protection/prevention measures: We are pursuing a 
proactive policy to ensure our own networks and resources achieve 
net-zero carbon emissions by 2040 (transition plan and energy 
efficiency program, circular economy or eco-design initiatives—see 
pages 94-99). We offer incentives to encourage employees to 
choose eco-friendly and sustainable mobility options. We also 
invest in carbon sinks and promote responsible internet use and 
digital sobriety among our customers.
Management 
of key or rare 
skills
Description and impact: insufficiently appealing employer brand; 
ineffective talent retention strategies; unsuitable internal training 
programs; inability to offer the right expertise as a result of employees 
leaving the company and increased competition for key skills and 
talent; delay in executing or failure to execute the strategy; major 
business interruption; increased reliance on suppliers; decline in 
employee morale; reassessment of the commitment to digital support. 
Examples of protection/prevention measures: We emphasize 
how appealing the Group is by focusing on its purpose, value 
sharing, work-life balance, flexibility, internal and international 
mobility and specific integration programs. We will support our 
employees through our digital transformation and implementation 
of our new enterprise model. We have signed intergenerational 
agreements to promote knowledge transfer. 
43
Our strengths —
*  Joint Alliance for CSR
(jac-initiative.com),
an association of which Orange
is a founding member

— For almost 15 years, Orange has been taking a structured approach to stakeholder dialog 
across all its operating regions and activities. Internal and external stakeholders are chosen 
based on their ability to contribute to the themes being assessed. Stakeholder dialog projects 
launched in 2022 included “Parlons du Devoir de Vigilance” [Let’s talk about the duty of 
vigilance law], which aims to improve the Group’s risk assessment process across all its 
operations and entire value chain and remove obstacles to action plan implementation, and 
“Responsables ensemble dans un monde numérique post-covid” [Responsible together in a 
post-Covid digital world] in Madagascar, Botswana, and Romania, which focused on CSR 
issues. Each project provides an opportunity to assess the priorities identified by all 
stakeholders and their impact on the Group’s business and reputation. The resulting ESG 
materiality matrix enables Orange to identify priorities and examine the Group’s decisions and 
strategy while gaining a deeper understanding of stakeholders’ concerns and expectations. 
— The 2022 ESG materiality assessment reflects our recent stakeholder dialog activities and 
includes a separate report for Europe (including France), Africa and the Middle East, and 
Group. As in previous years, privacy and data protection were identified as being majorly 
important to stakeholders and having a high impact on Orange’s business and reputation.
Orange 
2022 Integrated Annual Report
44 
Ongoing stakeholder dialog
2022 ESG materiality assessment 
Stakeholders also held high expectations as regards the environment, inclusive services and 
access to essential services through digital solutions.
The duty of vigilance law project resulted in a number of new additions to the assessment— 
“unsatisfactory working conditions along the value chain” (an issue raised by external 
stakeholders), as well as “interference with freedom of association” and “occupational health 
and safety” (issues highlighted by internal stakeholders). The Group launched a project on 
double materiality to complement its efforts. 
The Action Committee’s relationship with the management team
— Made up of seven individuals from outside the Group and two Executive Committee 
members, the Action Committee* works with the management team to ensure Orange’s 
purpose continues to drive sustainable transformation. To that end, the committee 
recommends how we can bring our purpose to life and reviews our activities to ensure 
consistency with our strategy. In 2022, the Action Committee held three meetings, which were 
attended by seven Executive Committee members and a number of experts from different 
departments. It made around 10 recommendations, calling on Orange to improve how it 
measures its scope 3 greenhouse gas emissions and revitalize the roll-out of its child 
protection policy. Lead the Future, the new strategic plan Orange presented in February 2023, 
is consistent with the views the Action Committee expressed to management.
A strong approach to stakeholder dialog
The Group’s stakeholder dialog activities inform its long-term strategy. 
Our Action Committee members, who mostly come from outside the Group, 
support this process by regularly reviewing our strategic plan to ensure 
consistency with our purpose.
The Group’s materiality matrix 
Digital equality 
Environment
Responsible economy 
Society built on trust
Level of importance to stakeholders
Impact on Orange’s business and reputation
Inclusive services
Access to essential 
services 
through digital 
solutions 
Unsatisfactory working conditions 
along the value chain 
Electromagnetic 
waves 
Responsible uses 
Interference with 
freedom of association
Transparent 
services/ 
Customer relations
Digital solidarity 
Solutions to reduce customers’ 
environmental footprint
Resource 
depletion 
Energy & climate change 
Appeal among young people 
New ways of working
Equal opportunities 
Workplace 
equality
Democracy and 
freedom of 
expression 
Exposure of young people 
(to inappropriate content 
and screens)
Occupational health and safety 
Data protection 
& privacy
Business ethics & compliance 
Support relating to employment 
& for the local economy 
Biodiversity & other 
environmental considerations
45
Our strengths —
*   A list of the committee members is available here:
orange.com/en/engagements/our-purpose-compass-guides-all-our-future-actions

Orange 
2022 Integrated Annual Report
46 
Committed, multi-talented 
teams
Orange’s company-wide health and safety agreement lays out a set of principles for the 
whole Group. For instance, all employees have health insurance coverage. Our “health and 
safety and quality of life at work” dashboard, which covered 97.5% of employees in 2022, 
tracks the impact of our initiatives on an ongoing basis.
Enabling employees to own shares in the company and 
feel more invested in its success
— On December 31, 2022, employees enrolled in the Group Savings Plan and the 
International Group Savings Plan held €1.9 billion worth of shares, i.e., 7.64% of Orange’s 
capital (an increase on 2021). We are keen to increase employee share ownership to ensure 
they benefit from the value created by Orange and feel more invested in the success of the 
business.
Allowing eligible employees to take a career break 
— Our latest intergenerational agreement came into effect in 2022. This agreement set out 
measures to promote the recruitment of young people, support employees in the middle to 
late stages of their career and foster knowledge transfer. It also states that employees who 
have worked at Orange for at least 10 years can take a career break for three to 12 months 
on 70% pay. They can, if they wish, use their time out to volunteer with non-profits, 
contribute to projects in start-ups or SMEs or enroll in a university course or training 
scheme.
Giving employees the opportunity to contribute to digital inclusion 
— In 2022, the Group’s skills-based volunteering program and part-time work scheme for 
older workers enabled almost 500 employees to work with a non-profit. For instance, 
450 employees volunteered at 11,600 digital workshops run by Orange Solidarité in stores or in 
other venues with its partners, reaching almost 50,000 people who benefit from 
Orange Foundation programs.
Celebrating top projects at the Engagement Makers Awards 
— Held in 2022, the second-ever Engagement Makers Awards celebrated the efforts of the 
top four teams working on various CSR-related topics, such as the circular economy, 
renewables, supply chain carbon emissions, and digital skills development. The idea is to 
provide the team in first place with project development support.
Proactively managing skills 
— The Group pays special attention to skills development. In 2022, 91% of Orange 
employees completed at least one training program (lasting 20.7 hours on average). Each 
employee has a personal development plan and can sign up to training courses run by 
Orange Campus—the Group’s network of schools—and additional vocational schools. Our 
development, upskilling and reskilling programs focus on new technological skills and 
professions (relating to data, artificial intelligence, cybersecurity, virtualization, cloud 
computing, 5G, etc.). These programs enable us to anticipate the skills we will need, in line 
with our Lead the Future strategic plan (see pages 14-17).
We also raise awareness of our CSR priorities, which are central to our enterprise model. 
Nearly 65,500 employees completed a total of more than 121,500 hours of CSR training 
in 2022.
Improving the quality of life at work 
— We conducted another Group-wide Employee Barometer to determine how satisfied 
teams were with their quality of life at work. In 2022, 85% of employees said they were 
proud to work for Orange and 77% would recommend the Group as a great place to work. 
We continue to improve our approach to management, collaboration, team autonomy, 
work-life balance and workload planning.
Our teams are key to our success as a Group. To lead our business into the 
future, we invest in employee training to keep pace with market changes.
47
Our strengths —

Orange 
2022 Integrated Annual Report
48
A financial strategy in line with 
our CSR commitments
Investing in start-ups in our industry
— Our €350 million venture capital investment vehicle, Orange Ventures, funds innovative 
start-ups that are working on innovative economic models in our areas of expertise and 
beyond. The synergies built by the Orange Ventures team between these start-ups and our 
business units benefit the Group and its customers. Since 2015, Orange Ventures has 
supported 53 start-ups, seven new in 2022. Furthermore, Orange Ventures Impact, a 
€30 million investment vehicle for climate, inclusion and care projects, invested in a number 
of promising start-ups in 2022—Traace (which has developed a carbon emission 
measurement and reduction tool), Goshaba (which strives to make workplaces more 
inclusive), and Sêmeia (which has built a healthcare platform to remotely monitor patients 
with serious or chronic illnesses).
Aligning our financing policy with our environmental and 
social commitments
— Orange’s financing policy reflects its sustainable performance ambitions. Since 2020, 
Orange has issued two sustainability bonds worth €1 billion in total to support two types of 
projects—environmental impact (such as energy-efficient infrastructure sharing in Poland 
and circular economy-friendly set-top box refurbishment in France) and social impact (such 
as fiber deployment to promote digital inclusion in rural France).
In November 2022, Orange also refinanced its €6 billion syndicated credit line while 
integrating environmental and social performance criteria for the first time. 
What’s more, we set up a Sustainable Finance Department, reporting directly to the Group’s 
Finance Department, in early 2023. 
To underpin our social and environmental commitments, we put in place 
sustainable finance mechanisms and deploy investment strategies to support 
responsible innovation in our industry.
Offering employee saving schemes that 
promote important values
Orange works in collaboration with trade unions to ensure its employee saving 
schemes promote engagement, sustainability and solidarity. Nearly all the 
funds offered under the Group Savings Plan and Collective Retirement 
Savings Plan include socially responsible investments (SRIs). At the end of 
2022, the value of these SRIs stood at €1.1 billion, accounting for 45% of the 
diversified employee savings funds, an increase on 2021.
In 2023, Orange won a French Sustainable Investment Forum prize for the 
quality of the sustainable investments in its employee saving schemes and 
the social dialog it engages in when setting them up.
Value of the sustainability bonds issued by the Group since 2020 
€1 bn
49
Our strengths —

Orange 
2022 Integrated Annual Report
50
A business with ethics 
at its core
Data and AI Ethics Council 
— Orange founded a Data and AI Ethics Council in 2021. Accountable to the Executive 
Committee, this independent advisory body is responsible for defining an ethical framework 
for data and AI, excluding regulatory obligations, in line with Orange’s values and purpose. In 
November 2022, it published the Data and Artificial Intelligence Ethical Charter, which will be 
deployed across the Group to ensure ethical, responsible and transparent use of data 
processing and AI technologies.
New customer relations ethics guidelines 
— Published in 2022, our customer relations ethics guidelines cover different aspects of 
interactions with customers. Developed in collaboration with the Group’s customer service 
teams and approved by our Ethics and Sustainable Performance Committee, these guidelines 
set out the main ethical conduct principles relevant to customer relations. The document 
provides practical advice and generic rules applicable to all our operating countries. We also 
launched new training and awareness-raising tools. For instance, we developed “customer 
relations ethics” videos and independent learning content (e.g., the “corruption risk prevention 
and detection” e-learning module) to help our teams better understand these topics.
Code of Ethics and anti-corruption policy
— In 2022, the Group published its new Code of Ethics, which sets out professional conduct 
guidelines for employees, as well as individual conduct guidelines for our stakeholders. 
Orange also updated its anti-corruption policy to bring it in line with the French “Sapin II” law 
on transparency, anti-corruption and economic modernization. Chairman Jacques 
Aschenbroich and Chief Executive Officer Christel Heydemann sponsored these documents, 
showing that ethical practices are a top priority for the Group’s new governance team. The 
latest guidelines were published in October 2022 to coincide with the 10th Ethics & 
Compliance Day, an annual event aiming to raise employee awareness through conferences 
and debates that are filmed and broadcast in all the Group’s operating countries. 
Extended whistleblowing protection 
— Our online whistleblowing platform Hello Ethics continued to grow in 2022, reaching new 
entities in Europe and Africa. Launched in 2021, the platform enables employees and external 
stakeholders to anonymously or non-anonymously report corruption, fraud, breaches in 
ethical compliance or concerns relating to the environment, fundamental and human rights, 
and health and safety. Orange ensures that whistleblowers who disclose non-compliance in 
good faith are not sanctioned, dismissed or discriminated against directly or indirectly. 
We update our third-party (due diligence) assessment methodology every year based on 
actively requested feedback. A France-based shared services center is responsible for 
collecting these assessments across the Orange SA scope. A new IT-based corruption risk 
assessment system, ArengiBox, is being rolled out to help make the risk mapping process 
more seamless and action plan management more straightforward.
Ethical conduct is the cornerstone of a trustworthy digital landscape, which is 
why it’s something Orange promotes across the business. In line with changes 
in the regulatory landscape and stakeholders’ calls for greater transparency, 
the Group continues to evolve and strengthen its ethical practices.
Crisis unit set up in response to 
the war in Ukraine
Soon after Russia invaded Ukraine, the Group set up a crisis unit to manage 
the impact of the war. Primarily responsible for employee safety and network 
security, the unit also ensures compliance with the various economic 
sanctions imposed by the European Union, the United Kingdom and the 
United States. What’s more, Orange provided information and support to teams 
impacted by these sanctions and sector-specific embargoes.
51
Our strengths —

Orange 
2022 Integrated Annual Report
52 
Notes — 53

Orange
54 
55
Our 
approach
to value 
creation 
We create value for all our stakeholders by improving 
infrastructure, businesses, the environment, and social 
factors in Europe, Africa and the Middle East.

Orange 
2022 Integrated Annual Report
56 
Europe 
Number of convergent customers 
11.6 m 
2 m 
Number of Orange Bank customers in Europe
We generate most of our revenue in our eight countries in 
Europe, where we operate very high-speed fixed and mobile 
networks and carry out targeted consolidation.
Number of mobile customers 
in Europe (in millions) 
Number of fixed broadband customers 
in Europe (in millions)
98.8 in 2022 
93.3 in 2021 
85.7 in 2020 
21.6 in 2022 
21.4 in 2021 
20.0 in 2020
including mobile customers in France* 
(in millions) 
including fixed broadband customers 
in France* (in millions)
44.1 in 2022 
39.8 in 2021 
34.8 in 2020 
12.7 in 2022 
12.5 in 2021 
12.2 in 2020
57 
Our approach to value creation —
—  Improve our NPS** by 10 points between 2023 and 2025 and 
retain our position as the most recommended operator in France 
Objective under 
Lead the Future
*
The figures provided include the Enterprise segment. 
**  Net Promoter Score: a metric used to gauge the likelihood of a customer or user recommending a product, service or brand

2022 Integrated Annual Report
Our approach to value creation — 59 
Orange
58 — Europe
Strong performance 
Solid performance across our eight operating countries 
— In France, the Group delivered high levels of commercial performance in 2022. We gained 
1.3 million fiber customers during the year, largely due to the gradual transition from copper 
to fiber-optic networks. We recorded 581,000 mobile net additions—our best performance 
since 2017—as well as our lowest ever churn rate.
We also saw a return to growth in other countries in Europe. For instance, our retail services 
grew by 2.9%, driven by convergence, the BtoB market and a significant (25.5%) 
year-on-year increase in customer roaming. 
In Spain, our efforts to restore our margins are clearly paying off. While our annual revenue 
contracted by 1.5%, we saw a return to growth in the second half of the year. 
In Belgium, we achieved high levels of operational performance—with 2% revenue growth— 
and made progress in the high-speed network market. 
In Luxembourg, we continue to adapt our portfolio of offers, in line with our challenger position, 
while capitalizing on the 5G network we launched in 2020. 
In Poland, we achieved 4.7% revenue growth in 2022, driven by the expansion of our fiber 
network. 
In Slovakia, we are extending our service portfolio with new-generation offers, such as mobile 
plans with a higher data allowance and a more comprehensive television package. 
In Romania, we continued to roll out our 5G network, which is now available in 23 urban areas 
(up from 17 in 2021). What’s more, we secured a large amount (220 MHz) of spectrum in a 5G 
auction at the end of the year to support the country’s ongoing digital transformation. 
In Moldova, our strong performance is driven by the transition from fixed to fiber-optic 
networks. Our high-quality mobile network reaches more than 2 million customers across 
the country.
A winning consolidation strategy
— Orange is pushing ahead with its acquisition strategy in line with European telecoms 
market consolidation. These acquisitions enable us to accelerate the deployment of new- 
generation networks and launch convergent services.
In Spain, we signed an agreement with the operator MásMóvil in 2022 to merge our 
operations. The deal is subject to approval by the relevant competition authorities and 
expected to be finalized in 2023. Operated as a 50:50 joint venture, the new entity will 
accelerate fiber and 5G investments, benefiting customers in Spain, and use its financial 
strength and stature to boost digitalization and innovation in this large market. 
In Belgium, the European Commission approved Orange Belgium’s offer to acquire a 75% 
stake—minus one share—in VOO SA, one of the country’s leading telecoms operators and a 
provider of fixed and mobile telephone and broadband solutions, as well as television 
services. This acquisition will give Orange Belgium a very high-speed broadband 
network in Wallonia and part of Brussels and the opportunity to accelerate its fiber 
deployment across the country. What’s more, Orange Belgium and Telenet signed 
two commercial fixed wholesale agreements providing access to each other’s hybrid 
fiber-coaxial (HFC) and Fiber-to-the-Home (FTTH) networks for a 15-year period.
In Romania, Orange acquired a 54% stake in fixed operator Telekom Romania (since 
renamed Orange Romania Communications) in 2021 and successfully rebranded all 
products and services in 2022. What’s more, Orange Business (see pages 86-87) has 
tapped into the company’s ecosystem of partnerships and solutions to become one of the 
leading technology suppliers and integrators for public- and private-sector organizations in 
the country.
Orange’s solid performance in its eight European operating countries is 
underpinned by its convergent offers and multi-service strategy. The Group is 
also forging ahead with its acquisition policy as the European telecoms market 
consolidates, bringing benefits for all its customers across the continent.
European footprint 
8 countries

Orange 
2022 Integrated Annual Report
60 — Europe
Convergence, a driver of growth for our premium packages 
— Developing convergent offers helps drive high levels of commercial performance and 
therefore value creation for the Group on the continent. Bundling high-speed fixed and 
mobile services enables us to retain customers, increase our average revenue per user 
(ARPU) and build on the success of our premium—fiber and 5G—packages for retail 
customers, who enjoy extra in-store benefits and exclusive services such as 24/7 support 
and personalized advice. 
In France, over half of our broadband customers have signed up to a convergent 
offer. Our average quarterly revenue per convergent offer (ARPO) increased by 2%, primarily 
due to the success of the Max (internet and TV) offer. Our performance in Spain was similar. 
In Poland, Orange continued to develop its Love convergent offer, which includes 
competitively priced fixed and mobile services in its standard package. The number of 
convergent customers rose to 1.63 million at the end of 2022, i.e., 69% of the total number of 
fixed broadband access lines. In Romania, Orange Romania and Orange Romania 
Communications jointly launched an initial national convergent offer under the Orange brand.
Pricing that reflects service quality 
— While we improved the quality of our products and services in 2022, we were forced to 
raise our prices—by €1 to €2 per offer—in each country to offset major increases in 
operating costs, particularly energy price hikes.
A wider range of services 
— We are also continuing to pursue our multi-service strategy by providing new offers for 
retail customers, enabling us to increase ARPU. Alongside the financial services provided 
by Orange Bank (see pages 64-65) and our IT security solutions, we have launched a remote 
surveillance offer called “Maison protégée” in France, as well as a service that enables users 
to monitor their home in Spain. We are also developing a range of mobile insurance options 
including a repair service.
Strong customer relations are key to the success of these offers. In France, we received a 
Net Promoter Score (NPS) of 27.9 in 2022—a six-point year-on-year increase, which is in 
line with our ambition of securing a five-point improvement each year. In Europe, Orange 
enhances customer relations by leveraging AI-powered digital tools such as chatbots, 
conversational robots offering round-the-clock customer support.
Our approach to value creation — 61
Paris 2024, an outstanding technological feat 
The Paris 2024 Organising Committee has entrusted a single operator, Orange, 
with equipping 40 official competition venues hosting 878 events with advanced 
technology—such as fiber optics, 5G, and the Internet of Things—for the next 
Summer Olympic and Paralympic Games. No fewer than 1,000 Group 
employees (network experts, IP network engineers, technicians, etc.) are 
involved in delivering this technological feat by designing and deploying 
solutions that will form part of the unique digital experience offered by the 
most connected Games ever to 15,000 athletes, 13 million spectators and 
4 billion viewers.
Orange’s revenue in Europe (including France) 
€28.9 m

Orange 
2022 Integrated Annual Report
62 — Europe
The innovation at the heart 
of what we do
At Orange, we firmly believe that technological progress needs to benefit as 
many people as possible, which is why our teams develop solutions that 
create lasting value.
Value creation through innovation
— In a landscape of rapidly evolving technologies and uses, Orange Innovation leverages 
the expertise of 8,000 employees—including 680 researchers—to develop tangible 
positive-impact solutions that are competitive and create value for the Group and its 
stakeholders. The teams in France and around the world conduct experiments in key areas, 
such as network virtualization, the Internet of Things (IoT) and artificial intelligence, in 
collaboration with teams from Orange Business (see pages 86-87). 
Orange is involved in a number of collaborative research projects and initiatives, leading 
around 50 projects with French, European and international stakeholders. We work in 
partnership with seven competitive clusters, five research chairs and three shared 
laboratories.
Intellectual property, a strategic asset and a pillar of innovation 
— Having filed almost 10,000 patents, Orange holds the second-largest intellectual property 
portfolio among European operators. This portfolio includes key patents for a number of 
telecom standards relating to essential technologies such as radio, 4G and 5G, as well as 
audio and video compression coding. Orange is also preparing future offers and already 
boasts a wealth of intellectual capital in fields such as cybersecurity (with over 500 patents 
and pieces of software), quantum computing, and artificial intelligence. In 2022, we added 
207 new inventions to our portfolio of unique technological assets, which are licensed to 
more than 2,000 industrial partners worldwide.
Support for innovative start-ups 
— To drive innovation among start-ups in our industry, we created one of the first accelerator 
networks in the world—Orange Fab. Spread across Europe, Africa, the Middle East, and 
North America, our 16 Orange Fab accelerators support promising start-ups in developing 
their business and strengthening their management practices. Programs focus on a specific 
theme such as generating new business opportunities, including through partnerships 
involving our own business units and those of our partners.
Several start-ups supported by Orange Fab France presented their business and met 
potential clients at the Viva Technology innovation show in Paris in 2022. For instance, 
SkyBoy enabled Orange customers with a Samsung Galaxy smartphone to discover the 
brand’s latest creation through a unique, 360-degree virtual reality experience. 
In 2022, Orange Fab France launched its second 5G-themed program, selecting seven new 
start-ups that would receive support in high-growth sectors such as Web3 and Industry 4.0. 
The intake included Latence Tech, which offers a solution to analyze, monitor and predict 
5G mobile network service quality.
The “Eternal Notre-Dame” VR experience, 
an innovative celebration of a cultural landmark 
In partnership with the organizations in charge of restoring the Notre-Dame 
cathedral in Paris following the fire in 2019, Orange developed a virtual tour 
allowing visitors to journey back in time as if they were there. This shines a 
spotlight on our extended reality (XR) ambitions and enables us to raise funds 
for the reconstruction project in a unique way. The “Eternal Notre-Dame” 
VR experience gives visitors the opportunity to delve into the history of the 
iconic landmark while supporting a national cause.
Value of the Group’s R&I investments in 2022 
€605 m
Our approach to value creation — 63

Orange 
2022 Integrated Annual Report
64 — Europe
Orange, an operator blazing a trail 
in the mobile banking world
Through Orange Bank, the Group offers a range of mobile-native financial 
services and cutting-edge banking solutions that work in synergy with our 
broader telecoms activities.
More accessible mobile banking services 
— When Orange launched Orange Bank in 2017, it became the first telecoms operator to enter 
the French retail banking market. Drawing on the Group’s expertise in mobile digital services, 
Orange Bank has deployed simple-to-use products with innovative features, paying particular 
attention to service quality. Since day one, the Orange Bank app has enabled customers to 
view transactions in real time, transfer money instantly by text message and make contactless 
and mobile payments.
Special packages have been launched to promote synergies. For instance, customers who sign 
up to our Pack Premium and Carte Premium fee-based services receive 5% cashback on 
purchases and their internet and mobile phone bills into their Orange Bank account. Orange 
also provides in-store banking services, enabling customers to take out mobile phone 
insurance and access financing options to purchase mobiles and connected devices. 
In 2022, Orange Bank continued to go from strength to strength, reaching 2 million customers 
in France and Spain and selling 830,000 products. While our basic service subscription is free
and does not have any specific income requirements, 96% of new Orange Bank customers 
sign up to fee-based services.
Customer relations at the heart of our banking model 
— Orange Bank’s model revolves around customer relations and the mobile experience. Our 
advisors and experts harness innovative tools to provide increasingly tailored responses to 
customer needs. Our artificial intelligence-powered virtual assistant can directly respond to 
89% of questions. What’s more, we show we take our responsibility to our customers 
seriously by developing initiatives around financial education (a topic covered on the Orange 
Bank blog), promoting green solutions and maintaining high levels of data security.
Our customer satisfaction results are encouraging—we have received an average rating of 
4.4/5 from 13,000 Trustpilot reviews, ranking above other banks in France. Orange Bank is 
also the highest rated banking app in Spain (with Apple Store and Play Store ratings of 4.9/5). 
Prêt Express, a new personal loan service 
— In 2022, Orange Bank launched a new personal loan service called Prêt Express. 
Developed in collaboration with French fintech Younited, this new service uses open banking* 
technology and enables customers to securely retrieve financial data from another institution 
in just three clicks using a mobile device, computer or tablet, while cutting the time it takes to 
process loan applications and the number of documents needed. Applicants receive a 
response within five minutes on average and, if relevant, alternative offers depending on their 
circumstances. The service is also open to people who are not Orange Bank customers.
One Bank, a project boosting operational efficiency 
— We’re also developing a single IT platform project, One Bank, to bring together Orange 
Bank’s operations in France and Spain. This project has three objectives—to deliver an 
enhanced and unified customer experience for three customer bases (Orange Bank France, 
Orange Bank Spain, and GBanque, in partnership with Groupama), to bring together a single 
team responsible for the entire European scope, and to adopt the highest IT standards. 
Ultimately, the One Bank project will facilitate faster innovation, cost cutting, and greater 
deployment opportunities for our banking solutions in new countries.
Number of Orange Bank customers in Europe 
2 m
Our approach to value creation — 65
*  Open banking gives retail and business customers the power to share their financial data with third-party providers to access
innovative and personalized solutions. 

Orange 
2022 Integrated Annual Report
66
Africa and 
the Middle East 
Revenue generated in the region in 2022 
€6.9 bn
(up 6.4% on 2021)
€125 m 
Over €100 bn
—  Achieve an average annual revenue growth of 7%   
between 2022 and 2025
Value of our investments in fixed networks 
between now and 2025
Value of Orange Money transactions in 2022
Across our 18 operating countries in Africa and the Middle 
East—a region where we have been active for over 
20 years—our strategic priorities include extending network 
coverage and expanding our multi-service ecosystem, with 
mobile financial services forming a key part.
Number of mobile customers 
in the region (in millions) 
Number of fixed broadband customers 
in the region (in millions)
143.1 in 2022 
135.2 in 2021 
128.4 in 2020 
2.8 in 2022 
2.2 in 2021 
1.7 in 2020
67
Our approach to value creation —
Objective under 
Lead the Future

Orange
68 — Africa and the Middle East
Improving access to 
4G networks
— Mobile data usage increased by 18% in 
the region in 2022, largely driven by 
customers in Egypt and the Democratic 
Republic of the Congo. We are accelerating 
the deployment of 4G in our operating 
countries, targeting an average coverage 
rate of 85% by 2025. We now have 53 million 
4G customers, an increase of 19% year on 
year. Our €260 million investment plan 
between now and 2025 will strengthen our 
leadership position in the mobile network 
market with the creation of 3,000 new mobile 
sites in 2023, mostly in Egypt and Morocco.
Fast-paced 
network 
deployments 
Orange invests in extending fixed 
and mobile network coverage in Africa 
and the Middle East to support 
growing network traffic and facilitate 
greater use of digital technology. 
One in 10 people in Africa are on 
an Orange network, making us a key 
digital partner in the region.
Improving 
connectivity 
in rural areas 
Today, 500 million people 
living in Africa still have no 
mobile network access. 
We therefore signed a 
partnership with Vanu—a 
provider of equipment and 
services in areas lacking 
connectivity—to enhance 
our network coverage in 
off-grid areas and bring 
digital services to rural 
communities. The first 
phase of the project will 
involve installing 
infrastructure at 
900 sites—700 in Côte 
d’Ivoire and 200 in Liberia. 
The partnership between 
Orange and Vanu will 
include technological 
upgrade work and draw on 
the innovative 
network-as-a-service 
(NaaS) model. We aim to 
set up 10,000 sites in total 
between now and 2030.
Accelerating fixed broadband 
investments
— Fixed broadband is our second largest 
growth driver in Africa and the Middle East. 
We serve 2.8 million fixed broadband 
customers across the region, an increase of 
27% on 2021. To build on this momentum, 
we will be investing €125 million in fixed 
networks between now and 2025, with a 
view to connecting an additional 
800,000 homes to fiber and reaching a total 
of 1.3 million fiber customers across the 
region. Between €100 million and 
€200 million will go towards developing our 
Pan-African infrastructure, with up to 
10,000 km of fiber backbone, the foundation 
of our network on the continent. We will also 
be accelerating the deployment of fixed 
wireless internet using time division duplex 
(TDD) and fixed wireless access (FWA) 5G 
radio technologies.
Launching 5G in new countries 
— In 2022, Botswana became the first 
African country to experience Orange’s 
commercial 5G offering, which will be 
extended to six other countries—Senegal, 
Côte d’Ivoire, Jordan, Burkina Faso, Liberia 
and Guinea-Bissau—in 2023. The use of 5G 
technology will support the development of 
new digital services relating to healthcare, 
education and security. We opened three 
new Orange 5G Labs (see pages 78-79)—in 
Senegal, Côte d’Ivoire and Jordan—in 2022 
in preparation for the roll-out of our 
commercial 5G offering and help local 
organizations and digital providers seize all 
the opportunities offered by this new 
generation of networks.

2022 Integrated Annual Report
A single app for all 
our services
— Over 15 million of our fixed and mobile 
customers in Africa and the Middle East use 
My Orange. This free multi-service app 
simplifies the sign-up process for our voice 
and data services and offers easy access to 
our financial services via Orange Money 
(allowing customers to transfer money or 
check their account balance) and 
entertainment services via the My Place 
platform (available in eight countries).
The rise of e-commerce 
— Since 2022, customers in 12 countries 
across the region have been able to buy 
mobile devices and accessories from our 
new website. We offer customers in 
Morocco and Jordan a fully digital buying 
experience from order to delivery and are 
developing similar models in Egypt, Côte 
d’Ivoire and Senegal.
Use of data and AI to enhance 
our customer experience
— We are leveraging artificial intelligence and 
data analytics tools in Africa and the Middle 
East to better understand our customers and 
help our vendors recommend the most 
suitable products and services to match their 
usage. We have also deployed chatbots in 
12 countries to improve our customer 
experience. Consumers in Guinea, Jordan 
and Cameroon can interact with these 
chatbots to buy products and services. 
What’s more, we are currently developing 
French- and Wolof-speaking voice bots in 
Côte d’Ivoire and Senegal, respectively.
Strong support for 
the local digital ecosystem 
— Keen to expand our range of services, we 
support innovative local entrepreneurs 
through various initiatives. Our 10 Orange Fab 
accelerators (see pages 62-63) have 
supported almost 130 local start-ups since 
2019. We also recognize start-ups that 
develop projects with a positive social and 
environmental impact through the Orange 
Social Venture Prize in Africa and the Middle 
East. What’s more, our free Orange Digital 
Center program (see pages 104-105) has 
reached 700,000 young people across the 
region.
Improved 
access to 
healthcare 
through 
online 
services
Orange and DabaDoc—a 
Moroccan start-up 
operating in North Africa 
for the past eight years— 
are preparing for the launch 
of the Orange Santé 
platform in Côte d’Ivoire in 
2023. Developed to connect 
patients and doctors in 
sub-Saharan Africa for the 
first time, this platform 
facilitates online 
appointment booking, 
remote consultations and 
related payments, and the 
establishment of electronic 
medical records. The 
platform aims to address 
the shortage of doctors in 
certain isolated areas by 
enabling patients to 
remotely consult 
specialists of their choice. 
We are looking into 
launching the platform in 
other countries in 
sub-Saharan Africa and 
adding new services.
Delivering a 
range of 
high-quality 
services
Orange sees Africa and the Middle 
East as a major growth market and is 
aiming to become the region’s 
benchmark multi-service operator by 
developing a range of services that 
promote positive-impact digital 
solutions from our local ecosystem.
69
Our approach to value creation —

Orange 
2022 Integrated Annual Report
70 — Africa and the Middle East
Essential mobile financial 
services
Against a backdrop of low banking penetration rates and rapid mobile phone 
adoption, Orange Money has contributed to the growth of financial inclusion in 
Africa since 2010, enabling people to access financial services even if they live 
in remote areas. Orange Bank Africa has fueled this momentum by providing 
inclusive credit facilities without any specific income requirements.
Facilitating a record number of money transfers 
— Our ambition is to provide customers with easy money management solutions, an 
innovative product portfolio, an enhanced customer experience, and guaranteed secure and 
transparent transactions, while responding to increasingly high expectations from users, 
businesses, and governments. 
At the end of 2022, Orange Money was operating 450,000 points of sale serving over 
29 million active monthly customers and generating almost €500 million in revenue from more 
than €100 billion worth of transactions since the start of the year. Money transfers from 
Europe to Africa had doubled in comparison to 2021. Given the intense competition we 
faced in 2022, our record-breaking results are a testament to the strength of our model, 
which is underpinned by a strong brand name and services based on trust. 
Supporting changing uses 
— In 2022, the Group launched a number of new services that make it easy to deposit and 
withdraw money. For instance, customers without a smartphone can now use a physical 
card with a QR code. Customers in Côte d’Ivoire and the Democratic Republic of the Congo 
can set up a standing order to ensure automatic payment of a pre-determined fixed amount 
at regular intervals. We also extended our mobile financial services to customers of other 
operators.
To ramp up our growth and pool our assets, we opened a new Orange Money development 
center in 2022. Based in Dakar and Abidjan, this center will support the technical 
development of our digital financial services in line with customer needs.
Offering new services to business customers 
— Our mobile payment services help small and medium-sized enterprises generate more 
revenue, achieve greater efficiency and take their performance to the next level. O’Calm 
enables entrepreneurs in Côte d’Ivoire to receive immediate payments and track their 
income more efficiently. Wéli allows Orange Money business customers in Senegal to 
receive immediate payments at no cost. Now integrated into Orange Money, the Mahali 
service gives small vendors and traders in Côte d’Ivoire access to online tools designed with 
local conditions in mind to manage delivery locations. 
Increasing access to loans
— In Côte d’Ivoire, Orange Bank Africa—Orange’s mobile bank—enables people whose 
needs are unmet by the traditional banking system to access pico- and micro-finance 
solutions and savings services through their Orange Money mobile account. Our scoring 
tool has enabled over 1.1 million customers to obtain Tik Tak loan approval in less than 
10 seconds without providing proof of income. We have also raised the borrowing limit— 
regular customers can now borrow up to 500,000 CFA francs (≈ €760), i.e., five times more 
than when the service was launched in 2020. The range of Orange Bank Africa loans 
expanded with the launch of mortgages, consumer credit instruments (including auto loans), 
as well as credit options for businesses.
In Botswana, we became the first operator to launch a pico-finance solution (loans of up to 
€100), and, in Guinea, we created a microfinance institute that will offer simple and instant 
digital financial services.
What’s more, Orange Money and Orange Bank Africa services can be accessed via an app 
that’s compatible with most smartphones.
Number of active Orange Money customers 
in Africa and the Middle East
Over 29 m
Total value of loans granted by Orange Bank Africa 
since 2020
€245 m
Our approach to value creation — 71

Orange 
2022 Integrated Annual Report
Infrastructure 
Percentage of the population in our 8 operating countries in Europe 
covered by the 4G network
Almost 99%
17 operating countries in Africa and the Middle East with 4G coverage 
2.7 m 
—  Accelerate fiber deployment between now and 2025 
+ 5 million connections in Europe 
+ 2 million connections in Africa and the Middle East 
14.9% 
Revenue growth achieved by Totem, Orange’s European TowerCo, 
between 2021 and 2022 
Number of homes and commercial premises made fiber-ready by 
Orange Concessions, Orange’s French FiberCo
We continue to invest in deploying new-generation fixed and 
mobile networks that are key to bringing connectivity 
solutions and digital services to as many people as possible.
64.9 m 
Number of FTTH connectable homes worldwide 
72 
Our approach to value creation — 73
Objective under 
Lead the Future

Orange 
2022 Integrated Annual Report
74 — Infrastructure
Fiber, a powerful customer 
acquisition tool
As a fiber trailblazer, we’re continuing to deploy very high-speed fixed 
broadband across Europe, Africa and the Middle East. Fiber offers superior 
performance and is therefore a powerful customer acquisition tool while 
enabling us to derive higher value through new offers, particularly for 
third-party operators.
Achieving a significant increase in the number of connections 
and customers
— We have been bringing fiber-optic internet to homes and businesses for over a decade, 
leading the market in Europe having made 61.7 million homes fiber-ready and deployed 
almost 46 million fiber-to-the-home (FTTH) connections by the end of 2022. Our dense 
network and fast-paced deployment helped us gain 1.1 million customers in 2022, bringing 
our total customer base up to 12.9 million. We are also continuing to invest in deploying 
fiber in Africa and the Middle East (see page 68), where we aim to serve 1.3 million fiber 
customers by 2025. This development demonstrates our commitment to increasing digital 
coverage in all our operating regions while driving regional development. 
In France, Orange is the leading operator in the fiber market, with 7.2 million customers at 
the end of 2022—1.3 million more than in 2021. Half of our FTTH internet subscription sales 
were to new retail customers, which shows that fiber is a powerful customer acquisition tool 
and a major driver of growth. Our FiberCo Orange Concessions (see pages 80-81) 
increased FTTH availability to over 2.5 million households in rural areas in 2022.  As a result, 
80% of the population is now covered with speeds of up to 2 Gb/s. France therefore has one of 
the largest fiber footprints in Europe.
In Spain, we have made 16.8 million homes fiber ready to date. While our new Jazztel TV 
offer gives Jazztel fiber customers access to a wide range of audiovisual content for less 
than €5 per month, our premium offering Pack Infinity delivers speeds of 10 Gb/s and free 
support, from Wi-Fi router installation to customer service. In Poland, our fiber customer 
base grew by 23.9% in 2022.
Deriving higher value from our network through 
solutions for third-party operators
— Orange Wholesale France (OWF) aims to derive higher value from and monetize 
our infrastructure by providing network solutions to telecoms operators in France and further 
afield.
In 2022, OWF expanded its portfolio of fiber offers by launching FTTH Access. This offer 
gives operator customers access to an activated fiber-optic network built on the local FTTH 
loops (or bitstream) deployed by Orange and other infrastructure operators, enabling them 
to provide electronic communications services to their end customers without rolling out 
local infrastructure. These customers can already enjoy extensive coverage, with more than 
31 million connectable sockets in mainland France.
Decommissioning our copper network in France 
— We are in the process of decommissioning our copper network—which connected 
landlines for over 50 years—to make way for new-generation networks. In France, this 
two-step process involves discontinuing our copper-based services in areas with fiber in 
2023, then gradually dismantling the network by 2030. Customers in areas where the 
network has been decommissioned will be given details of alternative (fiber, fixed 4G, 
satellite, etc.) packages. Switching off this network, which uses the oldest, most 
energy-intensive technology, will result in more resilient connectivity and reduce energy 
consumption.
Number of FTTH connections deployed across Europe 
by the end of 2022
Almost 46 m
Our approach to value creation — 75

Orange 
2022 Integrated Annual Report
76 — Infrastructure
New-generation mobile 
networks
Orange teams work day in, day out to design, deploy, improve and expand 
access to mobile networks across all our operating countries. 
High-performance 4G and 5G networks enable us to support new customer 
uses and bring reliable and secure connectivity solutions to as many people 
as possible.
Continuing to expand 4G coverage 
— Our 4G coverage reaches nearly 99% of the population in our eight operating countries in 
Europe and we’re looking to expand our footprint even further. In mainland France, where 
Orange’s 4G network reaches 99.7% of the population, we are continuing to invest in rural 
areas, both on our own and as part of the New Deal Mobile initiative (launched by Arcep and 
the French government in 2018 to improve mobile coverage across the country). Nearly all 
our sites in blackspot areas enjoy 4G coverage.
Speeding up 5G network deployment 
— The Group is also working on expanding its 5G networks, which are now available in 
Botswana and seven European countries—France, Luxembourg, Poland, Romania, 
Slovakia, Spain, and Belgium (where we launched a 5G network in 2022). We now cover 
almost 2,200 French towns, reaching over 56% of people living in mainland France. In 2022, 
Saint-Denis on Reunion Island became the first city in overseas France to inaugurate a 5G 
mobile network, which we plan to extend to 80% of the island’s population by the end 
of 2023.
Orange first deployed 5G networks in crowded locations, such as urban centers, airports 
and beach resorts, where there is a risk of existing mobile networks (particularly 4G) 
reaching saturation point––installing 5G antennas at existing 4G sites to limit the 
construction of new infrastructure.
This carefully planned and responsible deployment strategy also helps keep carbon 
emissions in check in an increasingly digital world. For the same volume of data, 
5G antennas consume less electricity than 4G antennas.
7 in Europe 
1 in Africa
Number of countries where we operate 5G networks
Modernizing networks 
Between 2025 and 2030, Orange will gradually decommission its 2G and 3G 
networks in Europe. Migrating our customers over to more robust, 
newer-generation mobile networks will enhance their user experience. 
In France, our 2G network will be deactivated by the end of 2025 and our 
3G network will be shut down by the end of 2028. In Belgium, Luxembourg, 
Poland, Romania, Slovakia and Spain, our 3G antennas will be switched 
off by 2025 and our 2G network will be phased out between now and 2030. 
Local circumstances and actual network usage were analyzed in each country 
to ensure a seamless and phased migration with minimal disruption to users.
Our approach to value creation — 77

Orange 
2022 Integrated Annual Report
78 — Infrastructure
Supporting new use cases
— In 2022, Orange began deploying network cores to support 5G Standalone (5G SA) in 
Europe. These 4G/5G network cores will ultimately make it possible to offer differentiated 
services using network slicing, which involves dividing a physical network into multiple virtual 
networks to support critical applications and priority services and offer different levels of 
quality and security. This technology is adopted by businesses for its security, reliability and 
scalability. It also supports private mobile network solutions.
Open Radio Access Network (O-RAN) architecture allows operators to build networks using 
equipment from different vendors, which facilitates deployment while reducing operating 
costs. In early 2023, we entered into an O-RAN network sharing agreement with Vodafone 
for rural parts of Europe where we both have mobile networks. The first commercial sites will 
be deployed in Romania. The Group continues to develop this architecture, which underpins 
the experimental 5G SA network Pikeo, a fully automated cloud-based network powered by 
data-driven artificial intelligence—a first in Europe back in 2021. This real-world experiment 
has helped us build on our expertise in integrating and operating networks like this. The 
ultimate goal is to be able to fully automate the network deployment and operation process.
Supporting our business customers 
— To accelerate 5G innovation, Orange 5G Labs help companies of all sizes and local 
authorities unlock the full potential of 5G and its use cases and take advantage of new 
product and service development. Orange 5G Labs have been launched across Europe and 
the Middle East and Africa. There are 10 such facilities in France (Châtillon, La Défense, 
Rennes, Bordeaux, Lyon-Charbonnière, Lille, Toulouse, Belfort, Marseille and Reunion 
Island), two in Belgium (Antwerp and Liège), one in Romania (Bucharest), one in Poland 
(Warsaw), one in Senegal (Dakar), one in Côté d’Ivoire (Abidjan) and one in Jordan (Amman). 
By the end of 2022, the Orange 5G Lab program had reached over 2,100 economic agents, 
supporting 182 companies in their experiments. In 2022, Orange deployed a mobile Orange 
5G Lab at the Viva Technology innovation show in Paris, giving attendees the opportunity to 
learn about 5G innovations and speak to Group experts. 
Designing the networks of the future 
— The next generation of mobile networks, or “6G”, promises even higher levels of 
performance. Even though this technology is still in the early research and development 
phase, the Group is actively participating in a number of research projects to test out its 
capabilities. Orange was the first European operator to present reconfigurable intelligent 
metasurface prototypes. By directing waves present in the environment in a particular 
direction, this technology consumes less energy than a “traditional” repeater without 
compromising the service quality. We are also involved in a number of leading collaborative 
research projects, including Hexa-X-II, which seeks to position the European Union as an
industrial leader in 6G. As part of this project, we are coordinating the working group 
responsible for defining technical requirements for 6G networks to ensure they respond to 
social and environmental challenges, working closely with civil society representatives. The 
first commercial 6G deployments are scheduled for 2030.
From a longer-term perspective, the development of quantum computers requires the 
creation of even more secure networks, for which other quantum technologies are being 
explored. At the Orange Research and Innovation Exhibition in 2022, we demonstrated how 
video feeds could be encrypted using quantum key distribution for the first time in France. 
This system uses cryptographic techniques to ensure confidentiality and immediately detect 
the presence of hackers. Conducted as part of the Paris Region QCI project in collaboration 
with Sorbonne University and the French National Center for Scientific Research, this 
experiment features solutions developed by ID Quantique and Thales.
Converged solutions for higher network value 
Orange Wholesale aims to derive higher value from our infrastructure and 
networks in wholesale markets where we provide products and services to 
third-party operators as well as Orange Business customers. 
We launched the eNGINe [NGIN = New Generation International Network] 
program to mutualize service infrastructure and international networks covering 
these two markets. In 2022, we reached a milestone with the creation of the 
Open Global Network, a new worldwide converged network supporting all 
traffic passing through its core, within a 12-month time frame. This 
unprecedented project for the Group was also a world first.
17 
Number of Orange 5G Labs worldwide
Our approach to value creation — 79

Orange 
2022 Integrated Annual Report
80 — Infrastructure
TowerCos and FiberCos, 
providing performance-boosting, 
mutualized solutions
Amid growing demand for very high-speed connectivity, mutualized 
infrastructure solutions play a key role in the value creation process. Orange has 
created TowerCos and FiberCos to enhance the operational performance of its 
passive mobile infrastructure assets, unlock new revenue streams and 
accelerate the deployment of its fiber network.
TowerCos to derive higher value from 
passive mobile infrastructure assets
— A TowerCo, or Tower Company, builds, manages and leases out “passive” mobile 
infrastructure assets—masts and rooftop structures—on which network antennas are 
mounted. As of 2023, independent TowerCos hold 83% of passive mobile infrastructure 
assets in Europe. By launching an independently managed European TowerCo Totem in 2021, 
Orange strengthened its position as a mobile infrastructure manager and operator and opened 
up new growth opportunities. Totem now manages over 27,000 masts, rooftop structures and 
other mobile sites in France and Spain and is aiming to become a leader in the European 
TowerCo market. 
Totem leverages its strong regional footprint and the expertise of its teams to bring mobile 
operators, businesses and institutions mutualized infrastructure solutions, respond to 
requests to build new sites, and offer mobile coverage solutions to improve connectivity in 
crowded, enclosed environments such as stadiums, metros, trains and offices.
As the fifth largest holder of sites in Europe, Totem is able to respond to surging connectivity 
needs and provide a solution to meet the new requirements of operators awaiting industrial 
partners. Its dynamic growth is illustrated by the signature of new commercial 5G deployment 
contracts with Telefónica in Spain and Iliad in France, as well as its successful tender for the 
network deployment package of Metro Line 15 South of the Grand Paris Express. In France, 
450 new sites were built in 2022 to respond to operators’ needs and enhance regional mobile 
coverage.
In 2022, Totem reported revenue growth of almost 15%. The TowerCo derived 16.2% of its 
overall revenue from third-party hosting and achieved a colocation rate of 1.37 third-party 
operators per site in 2022, with plans to bring this figure up to 1.5 by 2026.
FiberCos to increase access to fiber-optic internet
— A FiberCo, or Fiber Company, is an entity formed when multiple parties agree to 
co-deploy fiber-optic infrastructure in a particular region. One such French entity is Orange 
Concessions, a 50:50 joint venture between Orange SA and a consortium comprising La 
Banque des Territoires, CNP Assurances and EDF Invest. As the leading Public Initiative 
Network infrastructure operator in rural France, Orange Concessions was launched in 2021 
and supports local authorities in their regional digital development. In total, 2.7 million homes 
were fiber ready by the end of 2022 and 1 million active retail and professional clients were 
connected to fiber networks by early 2023—a 70% increase in the space of a year. The Group 
is also stepping up its efforts to raise public awareness of copper-to-fiber migration in areas 
covered by the Orange Concessions network. The objective is for the FiberCo to operate 
4.5 million fiber access connections in more than 6,500 towns across 30 French departments 
by 2025.
In Poland, we also launched a FiberCo with Dutch pension fund APG in 2021. This 50:50 joint 
venture enables Orange Poland to accelerate fiber deployment across the country. An 
additional 1.7 million connections will be rolled out by 2026, primarily in areas with limited or 
no access to very high-speed broadband, bringing the total up to 2.4 million.
Number of fiber-optic lines deployed by Orange Concessions by 2025 
4.5 m 
Number of sites held by Totem 
in France and Spain
27,100
Our approach to value creation — 81

Orange 
2022 Integrated Annual Report
82 — Infrastructure
Submarine cables, a key 
component of digital sovereignty 
Submarine telecommunications infrastructure is central to digital sovereignty 
and net neutrality. As a major player in the international submarine connectivity 
landscape, the Group boasts unique expertise in this strategic area and 
invests in numerous connections around the world.
Infrastructure at the center of international attention 
— Today, an intricate network of submarine cables spanning 1.3 million kilometers carries 
99% of the world’s internet traffic to enable instantaneous transoceanic communication. 
These cables are therefore key to countries’ economic and information sovereignty. The 
coopetition* among stakeholders in this sector can be described as economic (as tech 
giants invest heavily in owning their own submarine connections) and geopolitical (as 
tensions mount between the world’s great powers). The Group’s subsidiary Orange Marine 
enables France and Europe to play a vital role in this landscape.
Submarine cables along the most strategic routes around the world 
— Orange has invested in more than 40 cables—spanning almost 450,000 km—along the 
most strategic routes around the world. We therefore have the necessary infrastructure to 
carry our own and our subsidiaries’ data flows and meet the connectivity needs of 
wholesale and business markets. We also oversee most cable landing operations on French 
shores. The Group owns two fiber pairs, with a total capacity of 100 Tb/s, in the transatlantic 
cables Dunant and AMITIÉ. In a landscape of capacity-related uncertainties, this ensures we 
can meet our own needs along the strategic submarine cable route between North America 
and Europe—one of the most important corridors in the world, with internet traffic doubling 
every two years on average.
Orange continues to invest in projects involving submarine cables to guarantee and 
enhance the service quality of its global network. For instance, we are part of the 
SEA-ME-WE 6 (South East Asia–Middle East–Western Europe 6) consortium responsible for 
building a new “express” (very low-latency and very high-speed) submarine system that will 
connect multiple countries between France (Marseille) and Singapore including India, which 
is calling for greater capacity. Furthermore, Orange and the independent submarine 
infrastructure operator Medusa Submarine Cable System have joined forces to provide an 
open and high-performance interconnection solution to all partner operators of the Medusa 
cable. At 8,760 km long, Medusa will be the longest submarine cable system in the 
Mediterranean Sea and connect nine countries in Africa and southern Europe from 2024, 
playing a key role in boosting digital and economic development. One of 16, the landing 
point in Marseille, a major hub for global internet traffic, will provide cable users with secure 
access to all of the city’s data centers.
Orange Marine,
a source of unique expertise 
— Orange Marine, a wholly owned subsidiary of the Group, lays and repairs submarine 
cables for all types of customers around the world. It has been deploying a high-quality 
telecommunications network for over 100 years. As a leading ship-owner, it runs six cable 
ships, a vessel that conducts submarine cable route surveys, and three marine bases (Brest 
and La Seyne-sur-Mer in France and Catania in Italy). Its fleet is gradually being replaced by 
vessels that meet stringent environmental impact reduction criteria. For instance, the 
“Sophie Germain”, the latest addition to the fleet, consumes 25% less fuel than the average 
cable ship in operation.
In 2022, Orange Marine finished installing new cables in the Pacific Ocean, the Mediterranean 
Sea, the Atlantic Ocean, and the Caribbean Sea. 
Length of submarine cables installed by Orange Marine
287,000 km 
including 257,000 km of fiber-optic cables
Our approach to value creation — 83
* Cooperation between competing companies

2022 Integrated Annual Report
84 
Businesses
The Group leverages its unique expertise in all aspects of 
connectivity, security, and resilience to support business 
customers worldwide through Orange Business and Orange 
Cyberdefense.
Number of data, digital and artificial intelligence experts 
4,000
—
Cybersecurity: 14% 
Cloud: 
10% 
Digital & data: 10% 
 Enable Orange Business to return to profitability (EBITDAaL)  
growth by 2025 at the latest 
—  Generate €1.3 bn in annual cybersecurity revenue by 2025 
Solid growth across IT & integration services 
220 
Number of countries and regions covered by our enterprise networks
85 
Our approach to value creation —
Objectives under 
Lead the Future
Orange

Orange 
2022 Integrated Annual Report
86 — Businesses
Services to cater for all companies, 
all over the world
The Lead the Future strategic plan helps us adapt our model to a market 
where the lines between digital services and networks are becoming 
increasingly blurred. To support our business customers in this new 
environment, we are leveraging our unique expertise in all aspects of 
connectivity, security, and resilience.
Fresh impetus to Orange Business 
— With over 29,000 employees in 65 countries, our BtoB arm Orange Business (formerly 
Orange Business Services) is transforming (see pages 14-17) to become a key network and 
digital technology integrator by 2030 and return to profitability (EBITDAaL) growth by 2025 
at the latest.
The Orange Business portfolio is structured around four strategic value propositions— 
Workplace Together (developing new hybrid ways of working), Augmented Customer 
Experience (personalizing the customer journey), Smart Industries (transforming and 
optimizing industrial processes using digital technology), and Evolution Platform 
(implementing new infrastructure strategies). Each of these value propositions is backed by 
expert teams in data, cloud computing, and digital services.
As the world’s leading provider of next-generation connectivity solutions, Orange Business 
is ramping up its investments in secure virtual (SD-WAN, SASE, 5G) networks and working 
with other Group entities such as Orange Cyberdefense (see pages 90-91) to develop a 
modular services platform, the cornerstone of its ambitious digitalization and automation 
program.
Recognition for our services 
— In 2022, Orange Business migrated 1,168 Siemens sites across 94 countries to SD-WAN 
infrastructure. Developed in partnership with Cisco, our custom and secure network 
functions virtualization solution helped Siemens simplify its global communication 
infrastructure.
In 2022, we were recognized as a Leader in the Gartner Magic Quadrant for Network 
Services, Global for the second year in a row. 
By acquiring French telemedicine company Exelus in 2022, Enovacom, a French healthcare 
data interoperability leader and an Orange Business subsidiary, expanded its portfolio of 
solutions to include Nomadeec, a platform offering healthcare professionals cutting-edge 
tools for scheduled remote consultations, assessments and care appointments, as well as 
emergency telemedicine.
Blockchain in agriculture 
— Orange Business joined forces with Agdatahub (an operator of agricultural data exchange 
platforms) and IN Groupe (a French state institution that produces official documents) to 
develop Agriconsent, the first decentralized digital identity system for farmers. Hosted on 
Orange Business’ public cloud, this blockchain-based system enables farmers to authenticate 
their identity and securely share data—such as farming practices or environmental and 
technical information—with their suppliers, customers or administrative entities.
Support for all companies 
Supporting companies also involves connecting them to our fiber and mobile 
networks. In France, we restructured our commercial BtoB support to leverage 
our strong regional presence and expand our portfolio of customers. We 
continued to adapt our sales model to better serve our 2 million business 
customers, who now have access to a network of advisors specialized in 
handling complex requests. We also launched a mobile rental service 
for professionals. Orange was rated as having the best customer service in 
France for the second year in a row in the “Communication solutions for 
businesses” category.
Our approach to value creation — 87

Orange 
2022 Integrated Annual Report
88 — Businesses
Trusted data management 
solutions
Data, an increasingly important economic resource, is under threat from 
growing cyberattacks and fragmented cloud storage across different 
jurisdictions. That’s why we provide secure and transparent solutions to 
our public- and private-sector customers.
For the French government 
— In 2021, Orange teamed up with Capgemini to launch Bleu, a French cloud initiative 
meeting the data sovereignty needs of the French government and public administrations, 
in partnership with Microsoft. This cloud platform comes under French and European 
jurisdictions and will ensure critical network operators, essential service operators, the 
French government, the public service, hospitals and regional authorities can access 
Microsoft 365 collaboration and productivity tools, as well as all Microsoft Azure services. 
Bleu guarantees security when transferring data and controlling cloud applications 
exclusively from data centers that are located in France and provides assurances that they 
remain strictly separate from Microsoft’s facilities. The platform is due to be commissioned 
in 2024.
To provide more modern connectivity to security, emergency services and crisis 
management personnel including police and customs officers, fire fighters, and paramedics, 
the French government appointed Orange Business as its coverage provider for the “radio 
network of the future” project. This very high-speed network will support instant 
communication during critical situations, with new features enabling users to make videos 
calls or share their location or documents in real time.
For regions 
—  We also help regional authorities manage and unlock value from their data in a sovereign 
and secure manner. In 2022, we joined forces with La Banque des Territoires to create 
Hexadone, a digital data aggregation and enhancement platform that will enable regional 
authorities to manage all their data for their own needs and decision-making or operational 
purposes or share their data with other stakeholders in their ecosystem. The launch is 
scheduled for the first half of 2023.
For businesses 
— Orange Business’ 2,600 cloud experts guarantee data security (see pages 90-91) and 
confidentiality in compliance with the latest regulatory requirements. We’re continuing to 
consolidate our value proposition using our multi-cloud services, which grew by 10% 
between 2021 and 2022.
Developing shared blockchain infrastructure 
In 2022, Orange Business supported the creation of the Alliance Blockchain 
France consortium to bring together major stakeholders in the French 
blockchain ecosystem. Its objective is to deploy open, shared infrastructure for 
industrial players and administrations looking to reap the benefits of 
blockchain, expand access to this technology and provide a common 
environment for sharing and experimentation. It also aims to maintain the 
economic competitiveness of French companies by leveraging blockchain 
technology, particularly in terms of boosting productivity and increasing security.
Our approach to value creation — 89

Orange 
2022 Integrated Annual Report
90 — Businesses
Cybersecurity, a high-growth 
strategic market
Cyberattacks are a growing threat in today’s digital world. In 2022, our 
detection tools logged 99,000 security threats to our customers, averaging 
one incident per day per organization. With 2,700 cybersecurity experts, 
Orange Cyberdefense is now a key contributor to building a safer digital 
landscape.
Achieving outstanding growth 
— In 2022, Orange Cyberdefense’s revenue grew 14% to €977 million, the objective being to 
bring this figure up to €1.3 billion by 2025. Solid progress was made in the very small and 
small enterprise segment in France in particular. We have hired almost 800 new employees to 
help achieve our ambitions in all our operating countries.
The acquisition of Telsys and SCRT in 2022 brought Orange Cyberdefense closer to its Swiss 
clients. While Telsys manages IT solutions, SCRT is a leading Swiss-French cybersecurity 
company that specializes in ethical hacking (which involves using the same techniques as 
malicious hackers to find security vulnerabilities in networks and systems). Now active in 
nine European countries, Orange Cyberdefense continues to pursue a targeted acquisition 
strategy on its path to becoming a leading cybersecurity company in Europe.
We also inaugurated a new campus in Marseille to support local authorities and businesses in 
the Provence-Alpes-Côte d’Azur region. This latest opening further strengthens our regional 
footprint in France, where we already operate campuses in Lyon, Rennes, Lille, and Toulouse. 
We also won a four-year contract in 2022 to secure IT and communication systems for the 
French Ministry of Armed Forces. This major contract will be delivered in partnership with 
CS Group, which is renowned for its expertise in designing, integrating and operating critical 
systems. 
Protecting very small and small businesses
— Cyberattacks on small businesses are on the rise and can have devastating consequences, 
which is why we launched Cyber Protection in France in 2022 to help secure their vital data. 
This new-generation antivirus program, which provides connected devices with constant 
protection, combines artificial intelligence (powering a software agent installed on computers) 
and human surveillance (conducted by Orange Cyberdefense experts).
Anticipating, detecting and responding to threats with SOCs
— Dotted around the world, our 32 security operation centers (SOCs) leverage the Group’s 
expertise in anticipating and responding to IT threats. In 2022, they analyzed over 60 billion 
security events each day. To keep pace with the ever-changing threat landscape, our analysts 
and experts also proactively examine IT systems to adjust detection tools accordingly. These 
AI- and machine learning-based tools analyze past incident data to build attack scenarios and 
anticipate future hacking attempts.
The SOCs are also innovation hubs. As part of the Software République open innovation 
ecosystem, we have teamed up with Renault to develop a solution that detects cyberattack 
attempts and protects vehicles. This solution will be deployed in certain Renault models from 
2025.
Working together to build a safer digital world
— Orange is a trusted partner of stakeholders committed to building a safer digital world. In 
France, we are involved in the Phishing Initiative, an online phishing reporting and prevention 
platform. Every year, we check hundreds of thousands of URLs flagged as potentially 
fraudulent by internet users. The Group has also partnered with the CyberPeace Institute, an 
NGO that promotes “peace in cyberspace” by assisting civil organizations targeted by 
large-scale computer-based attacks.
Increase in Orange Cyberdefense’s revenue 
between 2021 and 2022
14%
Our approach to value creation — 91

Orange 
2022 Integrated Annual Report
92 
Environment
We’re aiming to achieve net-zero carbon emissions by 2040 
by reducing our carbon emissions, increasing our use of 
renewables and deploying an ambitious circular economy 
program while supporting our customers and encouraging 
our suppliers to minimize their environmental footprint.
Percentage of our renewable energy needs already covered by our initiatives 
19.4% 
Over €1 bn 
Revenue generated by our Orange Business solutions to help customers reduce 
their environmental footprint 
Almost €130 m 
Value of avoided or saved capital costs unlocked since 2020 through the OSCAR program 
to develop the circular economy for our network equipment 
Scope 1, 2 and 3 CO2 emissions 
compared with 2020 levels 
Collection rate of unwanted mobiles 
by Europe
Objective: 
10.0% in 2025 
1.8% in 2022
Percentage of total mobile sales 
coming from refurbished devices in Europe
Objective: 
- 45% in 2030 
+1% in 2021
Objective: 
30.0% in 2025 
23.1% in 2022 
20.4% in 2021
93 
Our approach to value creation —
Objectives under 
Lead the Future
For the purposes of this report, all CO2 emissions have been converted into carbon dioxide equivalents (CO2eq), 
a metric used to compare the emissions from various greenhouse gases based on their global warming potential (GWP).

Orange 
2022 Integrated Annual Report
94 — Environment
Our net-zero carbon ambition 
Transitioning to greater use 
of renewable energy
Orange is committed to buying and producing more renewable energy. In 2022, 
37.8% of our electricity came from renewable energy sources, including 
grid-connected systems.
— Our objective of achieving net-zero carbon emissions by 2040—in line with the IPCC and 
Paris Agreement target of limiting the global temperature rise to 1.5°C above pre-industrial 
levels—is central to our environmental ambition. Our target for 2040 is a 90% reduction in 
greenhouse gas emissions in three different categories: direct emissions from our buildings 
and vehicles (scope 1); indirect emissions associated with purchased electricity and heating 
for our networks and buildings (scope 2); and indirect emissions generated upstream by our 
suppliers, service providers and employee commuting and downstream by our customers 
(scope 3).
Lead the Future, our new strategic plan, strengthens our climate change mitigation 
objectives, reaffirming our commitment to reducing our scope 1 and 2 CO2 emissions 
related to digital activities by 30% by 2025 (compared with 2015) and our scope 3 emissions 
by 14% by 2025 (compared with 2018). This means we’re now aiming to reduce our scope 
1, 2 and 3 emissions by 45% by 2030 (compared with 2020). 
Capturing and storing residual emissions 
— Some of the emissions generated by human activities are unavoidable. These residual 
emissions can be sequestered through sustainable practices as part of a net-zero carbon 
approach. To absorb the residual 10% of our emissions, we fund natural carbon sink 
projects that have a positive impact on local communities and biodiversity, whether through 
direct investment or the Orange Nature fund. For instance, in 2022, we provided financing 
for the NGO Planète Urgence and the consulting firm Sia Partners to restore and sustainably 
manage almost 1,000 hectares of mangroves in Cameroon.
Measuring our impact on biodiversity 
— In 2021 and 2022, we assessed the impact of our activities on biodiversity in partnership 
with the independent consultancy The Biodiversity Consultancy. The assessment concluded 
that the Group’s biodiversity footprint was around 12 MSA.km²* across scope 1 activities, 
4 MSA.km² across scope 2 activities and larger still across scope 3 upstream activities 
(extraction of materials for fiber optics, mobile network infrastructure, servers, individual 
items of equipment, etc.). We are working with our main suppliers to minimize this impact.
— In Europe, Orange has entered into Power Purchase Agreements (PPAs)—long-term 
contracts to buy electricity from renewable sources at a pre-negotiated price—to mitigate 
the effects of fluctuating energy prices while supporting the shift to renewables. By the end 
of 2022, we had signed PPAs covering 26% of our estimated electricity consumption in 
2025. Additionally, we source renewable electricity in some European countries through 
agreements that oblige suppliers to present a Guarantee of Origin. In 2022, these 
agreements met 95% of Orange Belgium’s and 76% of Orange Slovakia’s scope 2 needs, 
while covering 72% of Totem’s electricity needs (see pages 80-81).
What’s more, we signed a memorandum of understanding with Reservoir Sun in 2022 to install 
our first European photovoltaic plant at Bercenay-en-Othe, a strategic satellite 
communications site in France, which is expected to meet 20% of the site’s energy needs and 
due to be commissioned in 2025.
To achieve net-zero carbon emissions, we have launched a vast program to install solar 
energy generation systems at our sites in 14 countries in Africa and the Middle East, 
equipping over 18% of mobile sites with photovoltaic panels to date. This program involves 
collaborating with Energy Service Companies (ESCOs) to outsource the investment, 
installation, modernization and operational management relating to infrastructure to improve 
electricity consumption, environmental impacts, and supply reliability.
Orange is also developing a large-scale solar energy program. Nearly 70% of our electricity 
needs in Jordan is now met by three solar farms. A similar solution will soon be rolled out in 
Mali, followed by other countries at a later date. These programs in Africa and the Middle 
East helped us avoid generating over 209,000 metric tons of CO2 in 2022.
Our approach to value creation — 95
*  The value in MSA.km² (where MSA denotes Mean Species Abundance) indicates the equivalent number of square kilometers of land
with complete biodiversity loss. 

Orange
96 — Environment
Reducing our 
carbon 
footprint
In line with our ambitious objectives 
to reduce our scope 1, 2 and 3 
CO2 emissions, we are exploring 
ways to increase the energy efficiency 
of our networks, buildings and 
vehicles and working with our 
stakeholders to reduce carbon 
emissions across our entire value 
chain.
Developing 
an action 
plan for 
scope 3 
emissions
In 2022, Orange improved 
its scope 3 assessment 
process and developed an 
action plan that focuses 
on selling fewer new 
devices, embracing the 
circular economy and 
transitioning from fixed 
copper to fiber-optic 
networks. What’s more, 
we include environmental 
criteria in our calls for 
tenders and actively 
encourage our suppliers 
to reduce their own 
emissions. We aim to 
reduce our scope 3 
emissions by 14% 
compared with 2018 levels 
by 2025 (see page 94).
Setting even more ambitious 
emission reduction targets
— In 2022, Orange’s scope 1 and 2 
CO2 emissions were 6.3% lower on a 
comparable basis relative to 2021 due to 
better management of our energy 
consumption, use of electricity from 
renewable sources (see page 95), as well 
as the transition to greener energy mixes in 
certain countries. Our new strategic plan, 
Lead the Future, strengthens our emission 
targets (see page 94). 
Making our networks and IT 
systems more energy efficient
— At the end of 2022, networks and IT 
systems were the biggest contributor to the 
Group’s scope 1 and 2 CO2 emissions, 
accounting for 84% thereof. Despite a 
significant increase in traffic, we limited the 
year-on-year increase in energy 
consumption to 3% through various action 
plans, including our Green ITN program, 
which drives performance by using AI to 
optimize consumption, putting in place 
advanced standby modes and embracing 
network sharing. Between 2015 and 2022, 
the program helped save almost 5.1 TWh of 
electricity and 417 million liters of fuel oil 
while avoiding 3.4 million metric tons 
of CO2.

2022 Integrated Annual Report
Enhancing building and vehicle 
performance
— Our second-largest source of scope 1 
and 2 emissions is tertiary-sector buildings, 
which account for 11% of our energy 
consumption and 10% of our 
CO2 emissions. We are therefore pressing 
ahead with our real estate carbon reduction 
strategy. In line with France’s “décret 
tertiaire”, we have developed energy 
efficiency plans for 734 eligible 
tertiary-sector sites to reduce energy 
consumption by 40% between now and 
2030. Measures include phasing out oil 
furnaces, reducing the number of gas 
boilers and installing heat pumps. 
Company vehicles accounted for 5% of our 
energy consumption and 6% of our 
scope 1 and 2 CO2 emissions in 2022. To 
minimize their impact, we are reducing the 
size of our fleet by around 4% each year 
while transitioning to electric vehicles, the 
number of which increased by 37% in 
France in 2022. 
Helping our customers reduce 
their environmental footprint
— In 2021, to help businesses and public 
organizations reduce their environmental 
footprint, Orange Business created a 
sustainability portfolio with solutions 
relating to virtual communication and 
mobile device management. Orange 
Business also takes advantage of the 
possibilities offered by the Internet of 
Things (IoT), including the Smart 
Eco-Energy solution to monitor and 
optimize the energy performance of 
buildings. These activities generated over 
€1 billion in 2022. Orange also works with 
standard-setting bodies such as the
International Telecommunication Union 
(ITU) to ensure the ICT sector contributes 
towards a sustainable economy.
The EU Taxonomy 
— We reviewed our entire scope of 
revenue-generating and aligned activities to 
determine where we could make a 
significant contribution to the climate 
change adaptation and mitigation objectives 
of the EU taxonomy for sustainable economic 
activities*. Our eligible activities include data 
processing and hosting services, Internet of 
Things-related services and Orange Poland’s 
renewable energy activities. In 2022, while 
eligible activities made up around 2.1% 
(€920 million) of our revenue, eligible and 
individually eligible activities accounted for 
2.8% (€317.9 million) of our capital 
expenditure.
Supporting 
France’s 
energy 
saving plan 
In winter 2022, Orange 
introduced an energy 
saving plan in line with the 
electricity consumption 
reduction objectives set by 
the French government. 
We reduced the energy 
consumption associated 
with our buildings by over 
12% (figure adjusted for 
severe winter conditions) 
in the fourth quarter of 
2022. What’s more, we 
shared the latest 
eco-friendly guidance with 
our employees and 
customers via text.
Reduction in the Group’s scope 1 and 2 
CO2 emissions between 2021 and 2022, 
on a comparable basis 
6.3%
97
Our approach to value creation —
*  For more information on eligible and aligned activities,
see the 2022 Universal Registration Document.

Orange 
2022 Integrated Annual Report
98 — Environment
Promoting a circular economy 
model
To reduce our carbon footprint, use precious resources for as long as possible 
and prevent biodiversity loss, we have integrated circular economy principles 
into our processes, products and services. Our efforts to prolong the lifespan 
of our equipment enable us to lessen our impact on the environment and 
reduce our investment costs.
Applying eco-design principles to products and services 
— The Group’s aim for 2025 is to ensure all products sold under the Orange brand are 
developed in line with an eco-design approach that targets each stage of the product and 
service life cycle. We believe eco-design drives innovation and see environmental 
requirements as opportunities to rethink products and services and set ourselves apart from 
our competitors, which is why we have trained 130 project managers and recruited dedicated 
eco-design leaders in this area. 
In 2022, 12 of the projects piloted across the Group followed eco-design principles, including 
the Livebox 6, which was launched in April 2022. It was designed to be easy to refurbish, with 
a 100% recycled and recyclable plastic case, and a configurable standby mode to reduce 
energy consumption. 
Prolonging the lifespan of all equipment
— Orange has introduced a range of initiatives to extend the lifespan of its IT and network 
equipment. Using an internal platform for buying and selling reconditioned equipment, the 
Orange Sustainable and Circular Ambition for Recertification (OSCAR) program achieved 
almost €130 million in avoided or saved capital costs over a two-year period. What’s more, we 
encourage our suppliers to embrace a similar approach by using assessment criteria to 
determine their ability to perform life-cycle assessments (LCAs) and collect, refurbish and 
recycle equipment.
Keen to prolong the lifespan of the equipment we lease to our retail and business customers, 
we aim to collect 90% of equipment (including Livebox routers, set-top boxes, and optical 
network terminal units) after contract cancellation between now and 2025 so that we can 
refurbish and lease it out again. We achieved a collection rate of 66% in 2022, collecting 
almost 3.7 million items of equipment in our European operating countries. Given the global 
shortage of electronic components, these efforts are key to achieving cost savings and supply 
chain resilience. Additionally, Orange offers repair services in Europe to help customers extend 
the life of their mobiles.
Stepping up our collection and refurbishment efforts 
— Orange aims to ensure the number of unwanted mobiles collected equals 30% the number 
of devices sold in Europe by 2025, having achieved a collection rate of 23.1% in 2022 
(including devices collected by Orange France in Africa). We’re also targeting 10% of mobile 
sales in Europe to be refurbished devices by 2025.
In 2010, Orange and Emmaüs International began running workshops to facilitate the 
collection of mobile phone waste in Africa, which is recycled in France with the organization 
Ateliers du Bocage. They collected the equivalent of 428,000 mobiles in 2022. Our aim 
between now and 2025 is to collect WEEE (Waste Electrical and Electronic Equipment) 
equivalent in weight to 20% of the mobiles sold in Africa and the Middle East. 
Safeguarding rare and critical resources 
— Since 2011, we have taken steps to improve the traceability of rare resources and critical 
materials used in our equipment and products, in line with the common frame of reference 
provided by the International Telecommunication Union (ITU). 
As one of the founding members of the Eco Rating initiative, we help assess the performance 
of different mobiles across their life cycles and specify the quantity of materials (e.g., gold, 
silver, tin, and cobalt) used in each. We actively encourage our suppliers to find suitable 
substitutes and/or use recycled resources, enabling us to overcome certain metal shortages 
impacting our equipment production process.
Value of avoided or saved capital costs unlocked since 2020 through the OSCAR program 
to develop the circular economy for our network equipment
Almost €130 m
Our approach to value creation — 99

Orange 
2022 Integrated Annual Report
100 
Number of Orange Digital Centers
Objective: 
25 in 2025 
18 in 2022 
  9  in 2021
Percentage of women in technical roles
Objective: 
25.0% in 2025 
21.2% in 2022 
20.9% in 2021
Social factors
Our social commitment includes protecting data, increasing 
access to digital technology and promoting diversity and 
inclusion in close collaboration with all our stakeholders in 
all our operating countries.
Ensure the digital training courses and workshops 
we run worldwide between 2021 and 2030 reach
6 m people 
6.5% 
Percentage of (Orange SA) employees with a disability
Over 23,000 
Number of employees who completed cybersecurity training in 2022 
101
Our approach to value creation —
Awarded the 
GEEIS-AI* label 
Inclusive artificial intelligence 
Objective under 
Lead the Future
*Gender Equality
European & International
Standard – Artificial
Intelligence

Orange
102 — Social factors
2022 Integrated Annual Report
Personal data protection and 
confidentiality
Data protection is about building a safe digital world for everyone. In all our 
entities, we have appropriate safeguards in place to protect our IT systems as 
well as customer and employee data as effectively as possible.
Data protection governance structure 
— We are committed to maintaining customer trust by protecting all personal data provided 
to or generated by us. This important strategic focus area is covered under a security 
improvement policy that involves assessing and managing risks, particularly cyber threats.
To comply with the Group’s internal personal data protection policy, we have set up a 
dedicated organizational and governance structure, supported by a network of Data 
Protection Officers (DPOs) and points of contact within all our European “operator” 
subsidiaries and Orange Business. They aim to support significant regulatory changes 
impacting a number of Group entities in Europe and, in some cases, further afield.
In 2022, more than 23,000 employees completed over 214,000 hours of training covering 
the basics of cybersecurity, General Data Protection Regulation (GDPR) and encryption 
tools. What’s more, our points of contact received general personal data protection 
guidelines, which are available in five languages on our intranet.
Employee data confidentiality 
— Protecting employees includes protecting their data. Our employee data protection 
charter helps build trust with teams by outlining our commitment to maintaining 
transparency about data processing, collecting only strictly necessary data, notifying people 
in the event of privacy breaches and, more generally, ensuring confidential and secure 
personal data processing. We also provide an information booklet about Orange’s personal 
data processing practices.
Customer data protection 
— Faced with growing cyberattacks, individuals and businesses urgently need to protect 
their data. Orange offers business customers in France a wide range of solutions, including 
“Suite de sécurité pro”, which protects bank details and blocks fraudulent websites, and 
“SugarSync”, which encrypts the transfer of all types of documents. Orange Cyberdefense, 
a major provider of cybersecurity services in Europe, helps businesses of all sizes, from 
small enterprises to large groups (see pages 90-91), implement tailored data security 
solutions.
Our approach to value creation — 103 
A privacy-by-design digital marketing platform 
In a bid to give internet users greater privacy, Orange announced plans in 
early 2023 to form a joint venture with Deutsche Telekom and Vodafone to 
develop a European privacy-by-design marketing platform. The aim is to drive a 
step change in the control, transparency and protection of consumer data, 
which is currently collected, distributed and stored at scale by large 
non-European companies.

Orange 
2022 Integrated Annual Report
104 — Social factors
Digital inclusion 
A whole host of our essential daily services—including education, healthcare 
and financial services—are now partially or exclusively accessed online. 
Committed to supporting digital inclusion, Orange provides everyone with 
accessible devices and opportunities to acquire new digital skills.
Number of Orange Digital Centers, including 10 opened in 2022 
18
Reaching everyone with affordable devices and services 
— Orange has launched special offers for low-income households in four European countries. 
In France, our Coup de Pouce internet offer has given almost 14,000 customers access to 
affordable internet, television and landline services, a reasonably priced refurbished laptop and 
digital support. In Spain, 2,300 families had signed up to our Tarifa Social offer, which includes 
access to fiber-optic internet, a landline and a mobile line at a discounted price, by the end of 
2022. In Belgium, we offer discounts on certain contracts. In Moldova, we have special deals 
for older customers. As part of our ongoing commitment to connecting a wider and more 
diverse range of consumers, we launched the Coup de Pouce offer in Luxembourg in 2023 and 
will be providing special offers in all eight of our European countries by 2025. We also want to 
ensure everyone can afford digital devices. The Sanza range of affordable smartphones, 
ranging in price from USD 20 to USD 50, is available in 23 countries—seven countries in 
Europe and 16 countries in Africa and the Middle East. Furthermore, we give our European 
customers the option to pay for devices in installments. Similarly, in Côte d’Ivoire, Madagascar, 
Mali and Senegal, we offer eligible customers payment solutions for certain models. 
Leading the way for responsible technology use
— “As a trusted partner, Orange gives everyone the keys to a responsible digital world.” Such 
is our purpose, which affirms our commitment to providing information on and raising 
awareness of digital best practices in anticipation of future regulatory developments.
We mainly do this through our web portals “Bien vivre le digital” in France and “Por un uso 
Love de la tecnología” in Spain, which received a combined total of 5.7 million visits in 2022. 
What’s more, we actively combat cyberbullying, a form of harassment often associated with 
young people. As part of our partnership with e-Enfance, we provided technological and 
human support to help the non-profit launch 3018, a free app helping cyberbullying victims 
safely and confidentially report incidents. We also set up Safe Zones to provide protection 
from cyberbullying on some of the world’s leading online gaming platforms.
Providing digital support with concrete results 
— Orange is committed to ensuring everyone has basic digital skills. The programs run by the 
Orange Foundation and the digital workshops developed and delivered by Orange in France, 
Orange Studio in Poland and Garage Labs in Spain provide a comprehensive yet accessible 
overview of key digital concepts and support digital literacy.
Launched in 2014, our Supercodeurs program has taught children aged 9 to 13 in a number of 
our operating countries about digital challenges and careers. In Africa and the Middle East, the 
tablets and educational material provided by the Orange Foundation as part of the Digital 
Schools program have enabled primary school pupils to familiarize themselves with digital 
technology.
In all our operating regions, young adults and people retraining for new career opportunities, 
particularly women, can sign up to our various free digital skills development programs that 
support entrepreneurship and employability. Each of our 18 Orange Digital Centers, including 
the 10 that opened in 2022, houses a coding school, an Orange Fab start-up accelerator (see 
pages 62-63) and a Solidarity FabLab. The Solidarity FabLab program provides young people 
with an insight into digital manufacturing careers and an opportunity to enhance their 
collaboration and project management skills. In 2022, the Orange Foundation’s Women’s 
Digital Centers program contributed to the social and professional integration of nearly 
7,000 women.
Between early 2021 and late 2022, 1 million people benefited from our digital support and 
training initiatives. Our goal is to reach 2.5 million people between 2021 and 2025 and 6 million 
between 2021 and 2030.
Our approach to value creation — 105

Orange
106 — Social factors
Diversity and 
inclusion, 
powerful drivers 
of long-term 
performance
We firmly believe that promoting 
diversity and inclusion in all roles and 
at all levels of the Group creates 
value, drives innovation, enhances 
our appeal and improves employee 
well-being.
Promoting gender balance 
in technical and digital 
professions
— Orange prioritizes gender equality in all 
areas of the business. The Group aims to 
bring the percentage of innovation and 
technological roles held by women from 
21.2% up to 25% between now and 2025, 
which is why we have been running the 
Hello Women program in over 20 countries, 
mostly in Europe and Africa, since 2021. 
This program promotes gender balance in 
technical and digital roles in line with 
four objectives: raise awareness among 
middle- and high-school girls about these 
promising sectors, recruit, retrain, and retain 
female employees who already work in one 
of these professions.
Stamping out 
sexism, 
harassment 
and violence
In 2021, all our entities 
worldwide were provided 
with a framework— 
developed by the Group’s 
HR department—for 
responding to allegations 
of sexism, harassment and 
violence in the workplace. 
This framework is being 
deployed gradually in all 
our operating countries in 
Europe, Africa and the 
Middle East and adapted to 
each local legal and cultural 
context. What’s more, 
Orange provides internal 
support services for victims 
of domestic violence. After 
signing the Fondation Agir 
Contre l’Exclusion’s charter 
against domestic violence 
in 2021, the Group joined 
OneInThreeWomen—a 
European network for 
companies committed to 
combating domestic 
violence—the following 
year.
Helping women reach 
management positions 
— The Group is targeting 35% of women in 
management networks by 2025. In 2022, 
the percentage of female Executive 
Committee members increased significantly 
from 28.6% to 41,7% and over 500 promising 
female employees in various countries 
received support through our development 
and mentoring programs.
Supporting our employees’ 
work-life balance
— The Group helps employees balance 
work with other aspects of their lives by 
facilitating remote working, offering 
flexible working hours and introducing 
family-friendly measures. As a result of the 
agreement on gender equality in the 
workplace signed by Orange SA in 
December 2021, our male employees in 
France are now entitled to an extra five 
working days of paid paternity leave, 
i.e., 33 days in total.
Providing equal opportunities 
— The Group is committed to supporting 
people with disabilities by maintaining a fair 
and inclusive recruitment process, promoting 
the well-being of employees with 
disabilities, providing inclusive and adapted 
solutions for our customers and working 
with suppliers in the sheltered employment 
sector. We spent €17 million on goods and 
services from France’s sheltered 
employment sector in 2022.
We are focused on ensuring neurodiverse 
individuals are given equal opportunities. 
The Group therefore launched the Neuroteam 
program, which takes a multidisciplinary and 
collective intelligence approach to supporting 
and revealing the strengths of people who 
are neurodivergent (i.e., are autistic, have

2022 Integrated Annual Report
ADHD or learning difficulties, are 
exceptionally gifted, etc.). The program 
focuses on raising awareness, 
providing training on inclusive management 
and recruitment, as well as conducting trials 
to demonstrate how neurodiversity can 
drive innovation.
In 2022, Orange reaffirmed its commitment 
to boosting LGBT+ representation in the 
workplace by co-signing the charter drawn 
up by the non-profit organization L’Autre 
Cercle. In France, we have trained over 
450 people on understanding religious 
beliefs. We also support the non-profit 
organization Club 21e Siècle’s efforts to 
combat origin-based inequality.
Promoting inclusive 
artificial intelligence
— Orange believes that building diverse 
artificial intelligence (AI) teams is the key to 
reducing bias in AI systems. In 2020, we 
teamed up with the Arborus endowment 
fund to launch the International Charter for 
Inclusive AI, which has been endorsed by 
nearly 125 signatories to date. Following a 
Bureau Veritas audit in 2020, Orange became 
the first company to be awarded the "Gender 
Equality European & International Standard – 
Artificial Intelligence" (GEEIS-AI) 
label, which it renewed in 2022.
Measuring diversity and 
inclusion
— Since 2011, the Group’s workplace 
gender equality and diversity efforts and 
policy have been assessed as part of the 
GEEIS and GEEIS-Diversity labels. In 2022, 
these labels were awarded to 10 entities in 
nine different countries, with first-time 
certifications for three entities in Côte 
d’Ivoire, Senegal and Tunisia.
Raising awareness of 
diversity and inclusion 
— We raise awareness of workplace gender 
equality through an online training course, 
issuing certificates to participants upon 
completion. Available in five languages, the 
course has been completed by almost 
67,000 employees worldwide. At the end of 
2022, we launched a neurodiversity 
e-learning module in French and English. In 
2023, we will be deploying our inclusive 
management self-assessment tool, which will 
be available in nine languages, in over 40 of 
our operating countries. The Group also runs 
communication campaigns to shine a 
spotlight on global initiatives, such as 
International Women’s Day.
Helping 
young 
people into 
sustainable 
employment 
Our intergenerational 
agreement for the period 
2022 to 2024 focuses on 
three main areas: the 
sustainable integration of 
young people, the 
employment of older 
people, and knowledge 
and skills transfer.
Orange actively 
contributes to the 
“1 jeune, 1 mentor” 
initiative in France. What’s 
more, over 600 Orange 
volunteers have supported 
40,000 young people 
through one-to-one or 
group mentoring sessions 
held in collaboration with 
education and social and 
professional integration 
organizations.
The Group also launched 
a pilot project to test a 
new, fully digital 
international mentoring 
program.
Percentage of women 
in management networks at the end of 2022
33.1%
Global agreement on 
workplace gender equality 
The Group has now implemented the 
global agreement signed with UNI 
Global Union on 17 July 2019 in all 
its operating countries. In over 
30 subsidiaries, local committees and 
special correspondents are 
responsible for fulfilling the 
commitments made, adapting them 
to the local context.
107
Our approach to value creation —

Orange 
2022 Integrated Annual Report
108 
Notes — 109

Orange
110 
111
Our 
impact 
Our financial and non-financial results 
and contribution to the United Nations 
Sustainable Development Goals (SDGs) have 
an impact on society as a whole.

Our results and targets
2022 Integrated Annual Report
Value sharing
2022 Targets fully achieved
2022
2023 
EBITDAaL 
€13 bn 
Slight increase 
eCAPEX 
€7.4 bn 
Large decrease 
Organic cash flow (telecoms) 
€3.1 bn 
≥ €3.5 bn 
Net debt/EBITDAaL (telecoms) 
1.93× 
Around 2× in the medium term 
Dividend per share 
€0.70 
€0.72*
 
2025 Targets under Lead the Future
—
Excluding ongoing or future acquisitions
Slight increase in EBITDAaL (CAGR 2022-2025)
— Stronger CAPEX discipline
—  Continued growth of organic cash flow from telecoms activities to reach €4 billion by 2025
— Unchanged net debt to EBITDAaL ratio, i.e., 2× in the medium term
— ROCE* increase between 2022 and 2025 
Orange
112
Surplus
€2.3 bn 
International carriers 
and Shared services 
 €1.5 bn 
Europe (excluding France) 
€11 bn 
France 
€18 bn
Africa and the Middle East 
€6.9 bn
Totem 
 €0.7 bn 
Enterprise 
€7.9 bn 
Public sector 
Licenses and taxes 
€4.2 bn
Employees 
Wages and employee benefits 
€8.9 bn
Suppliers and partners 
External purchases and leases 
€20.2 bn
Shareholders
Dividends paid 
€2.2 bn
Regions 
Network investments 
€4.7 bn
Lenders and financial investors 
Finance costs 
€1.0 bn
Revenue
€43.5 bn 
Eliminations 
€2.5 bn
113
Our impact —
* Return on Capital Employed
* Subject to approval at the Annual Shareholders’ Meeting; payable in 2024 

Orange 
2022 Integrated Annual Report
114
Our financial 
results
We achieved very solid results in 
2022, meeting all our targets for the 
year, including EBITDAaL growth of 
2.5%. Against a backdrop of inflation 
and geopolitical instability, our 
performance enables us to create 
value for our stakeholders and target 
long-term growth.
EBITDAaL and eCAPEX** 
— EBITDAaL amounted to almost 
€13 billion in 2022, a 2.5% increase on the 
previous year, in line with the target set. The 
Africa and Middle East region was the main 
contributor to this performance, recording 
11.3% growth. Orange achieved net 
savings of over €700 million between the 
beginning of 2020 and the end of 2022 
through the Scale Up operational efficiency 
program. EBITDAaL from telecom activities 
reached €13.1 billion, up €2.4% on the 
previous year.
Capital expenditure (eCAPEX) totaled 
almost €7.4 billion, down 0.7% in line with 
the target set. Investments decreased by 
€365 million across the Group’s three main 
operating countries (France, Spain and 
Poland) in 2022 as fiber was deployed at a 
slower pace, particularly in France, which 
had taken a significant lead in this area. 
Meanwhile, investments in Africa and the 
Middle East—which will drive future 
growth—grew by €191 million.
Net income 
— Orange’s consolidated net income 
reached €2,617 million, up from €778 million 
in 2021 (historical data), primarily due to the 
increase in operating income.
Revenue 
— The Group’s revenue totaled €43.5 billion 
in 2022, up 0.6%* on 2021 due to the 
sustained high growth achieved in Africa 
and the Middle East (6.4%, with revenue 
reaching €6.9 billion) and by Totem (14.9% 
or €89 million, with revenue reaching 
€700 million), as well as the strong 
performance of retail services (up 2.0%). 
Revenue in Europe was back on the rise 
(up 0.6%, reaching €11 billion) owing to the 
price increases implemented in each 
country, the solid recovery recorded in 
Spain, as well as the strong performance 
achieved in Poland (up 4.7%) and Belgium 
(up 2.0%).
Revenue in France decreased by 
€193 million (or 1.1%, reaching €18 billion) 
due to a decline in wholesale services 
revenue. 
Enterprise revenue rose slightly (by 0.2%, 
reaching €7.9 billion) due to growth in 
mobile, IT and integration services. Orange 
Cyberdefense recorded €977 million in 
revenue in 2022, almost achieving its 
€1 billion target one year ahead of schedule. 
Changes in the asset portfolio 
— On 8 November 2022, Orange acquired 
a 100% stake in SCRT and Telsys, Swiss 
cybersecurity and IT solutions providers, 
which means it is now active in 
nine European countries.
Organic cash flow
— Organic cash flow from telecom activities 
grew considerably—by €657 million—to 
reach €3.1 billion, in line with the “at least 
€2.9 billion” target, primarily due to the 
increase in EBITDAaL and decrease in 
eCAPEX.
Dividend 
— A dividend payment of €0.70 per share 
for the 2022 financial year will be put to a 
vote at the Shareholders’ Meeting on 
23 May 2023. Taking into account the €0.30 
interim dividend paid on 7 December 2022, 
the remaining dividend of €0.40 per share 
will be paid in cash on 7 June 2023. The 
ex-dividend date is 5 June 2023.
115
Our impact —
*  Unless otherwise stated, changes are on a comparable basis. 
**  See the 2022 Universal Registration Document for the
definition of EBITDAaL and eCAPEX.

Orange
116
Total shareholder return*
Orange TSR 
Stoxx Europe 600 Telecommunications TSR 
CAC 40 TSR
1 January 
2018 
1 January 
2019 
1 January 
2020 
1 January 
2021 
1 January 
2022 
31 December 
2022 
200 
150 
100
50
9.0% 
8.0% 
7.0% 
6.0% 
5.0% 
4.0% 
3.0% 
2.0% 
1.0% 
0.0% 
2021 
2022 
2020 
2019 
2018 
2017 
2016 
2015 
2014 
Source: Bloomberg, 27 March 2023 
Gross annual return 
on the Orange share 
Average gross annual return 
on CAC 40 company shares
5.0% 
3.9%
4.2%
4.5% 
5.0%
5.3% 
6.2% 
8.5% 
7.5%
Total Shareholder Return (TSR) is the sum of all dividends received plus/minus the change in stock price, expressed as 
a percentage of the initial purchase price.
Key figures 
Data at 31 December
Gross annual return on the Orange share compared with 
the average gross annual return on CAC 40 company shares 
117
Our impact —
2022 Integrated Annual Report
In millions of euros 
2022 
 
2021 
comparable 
basis 
2021 
Change 
historical comparable 
basis 
basis 
Change
historical
basis 
Revenue  
43,471  
43,195  
42,522  
0.6%  
2.2% 
France  
17,983  
18,175  
18,092  
(1.1)% 
(0.6)% 
Europe  
10,962 
10,898 
10,579 
0.6% 
3.6% 
Africa & Middle East 
6,918 
6,504 
6,381 
6.4% 
8.4% 
Enterprise  
7,930  
7,917  
7,757  
0.2%  
2.2% 
Totem  
685  
596  
-  
14.9%  
- 
International carriers & Shared services  
1,540 
1,513 
1,515 
1.7% 
1.6% 
Intra-Group eliminations  
(2,547)  
(2,408)  
(1,802) 
EBITDAaL 
12,963 
12,645 
12,566 
2.5%  
3.2% 
o/w telecom activities  
13,080  
12,775  
12,696  
2.4%  
3.0% 
as % of revenue  
30.1%  
29.6%  
29.9%  
0.5 pts  
0.2 pts 
France  
6,645  
6,620  
6,867  
0.4% 
(3.2)% 
Europe  
2,772  
2,728  
2,830  
1.6%  
(2.0)% 
Africa & Middle East 
2,584  
2,322  
2,265  
11.3% 
14.0% 
Enterprise  
804  
990  
970  
(18.8)% 
(17.1)% 
Totem 
371  
352  
-  
5.4% 
 - 
International carriers & Shared services  
(96)  
(237)  
(237)  
59.7%  
59.7% 
o/w mobile financial services 
(118) 
(131) 
 (131) 
10.0%  
10.0% 
Operating income 
4,801  
122  
2,521  
n.s.  
90.4% 
o/w telecom activities  
5,000  
303  
2,702  
n.s.  
85.1% 
o/w mobile financial services  
(200) 
(182) 
(182) 
(10.0)%  
(10.0)% 
Consolidated net income  
2,617  
778  
- 
236.6%
Net income attributable to Group equity holders 2,146 
233 
n.s.
 
 
eCAPEX 
7,371  
7,426  
7,660  
(0.7)% 
 (3.8)% 
o/w telecom activities  
7,335  
7,402  
7,636  
(0.9)%  
(3.9)% 
as % of revenue 
16.9%  
17.1%  
18.0%  
(0.3) pts 
(1.1) pts 
o/w mobile financial services  
35 
24 
24 
48.0% 
48.0% 
EBITDAaL - eCAPEX  
5,593  
5,219  
4,906  
7.2%  
14.0%
Organic cash flow (telecom activities)  
3,058 
2,401 
27.4%
 
Net financial debt* 
Ratio of net financial debt to EBITDAaL from telecom activities** 
31 
December
2022
31
 
December
2021
 
 
1.93
25,298  
24,269 
* Base 100: 1 January 2018.
1.91
*
 Net financial debt as defined and used by Orange does not include mobile financial service activities for which this
concept is not relevant.
**  The ratio of net financial debt to EBITDAaL from telecom activities is calculated by dividing the Group’s net financial
debt by EBITDAaL from telecom activities over the previous 12 months. 

Orange 
2022 Integrated Annual Report
118
Our non-financial 
results
We measure our social and 
environmental impact to assess 
our non-financial performance. 
This approach is key to monitoring 
compliance with and progress 
toward our CSR commitments.
whom in France—and 2,701 people were 
brought in on work-study contracts. Orange 
placed 155th out of 850 European 
companies in the Financial Times Diversity 
Leaders 2023 ranking published in 
November 2022, coming third in the 
telecoms sector. Women made up 33.1% of 
management networks in 2022. Since 2018, 
almost 44,000 employees in France have 
received workplace gender equality 
certificates after completing an online 
training course designed to raise awareness 
of workplace gender equality. The equivalent 
international course, launched in five 
languages in 2022, has been completed by 
almost 23,000 employees.
Digital inclusion
— In addition to our ambition of increasing 
regional digital coverage, we help people 
outside of Orange acquire digital skills by 
running workshops and training courses, 
which reached 593,000 people in 2022. 
There are now 18 Orange Digital Centers, 
including the 10 that opened in 2022. To 
enable people on low incomes to access 
digital technology, we also had special offers 
in four of our eight European operating 
countries, as well as a range of affordable 
smartphones with internet access in 23 of 
the 25 countries where we provide operator 
services at the end of 2022. Our digital 
accessibility e-learning course—launched
Human rights 
— Orange renewed its support for the 
United Nations Global Compact for the 
22nd year in a row, pledging to protect and 
promote fundamental human rights. We 
protect freedom of expression and privacy 
through our involvement in the Global 
Network Initiative. In 2022, we took part in 
discussions about the implications of the 
import ban on goods linked to forced labor, 
as well as the whistleblowing and 
whistleblower protection system.
Data protection 
— In 2022, data protection officers were 
appointed in all our “operator” subsidiaries 
in Europe as well as in Orange Business to 
ensure any data created, processed or 
stored by the Group was appropriately 
protected. Over 1,000 manual technical and 
non-technical assessments and more than 
100,000 automated assessments were 
carried out in 2022. More than 
23,000 employees completed a total of 
214,000 hours of cybersecurity training.
Employees 
— As of 31 December 2022, Orange 
employed 136,430 people—133,856 on 
unlimited contracts and 2,574 on temporary 
contracts. In 2022, 11,935 people were 
hired on unlimited contracts—2,505 of 
in 2020 in France to help ensure everyone, 
including people with disabilities, can access 
digital content—had been completed by 
2,900 employees by the end of 2022.
Environment
— We are ambitiously aiming to achieve 
net-zero carbon emissions by 2040. In 
2022, we pledged to reduce our scope 1, 
2 and 3 CO2 emissions by 45% by 2030 
compared with 2020 levels. Our scope 1 
and 2 emissions fell 20.8% between 2015 
and 2022. Our network and IT systems 
account for 84% of the Group’s overall 
energy consumption and CO2 emissions. 
The action plans deployed helped limit the 
rise in the Group’s scope 1 and 2 energy 
consumption between 2021 and 2022 to 
3%, on a comparable basis. We achieved a 
23.1% collection rate of unwanted mobiles 
by Europe as part of our circular economy 
program.
119
Our impact —

Orange 
2022 Integrated Annual Report
120
Toward a lower impact on the environment 
and the climate
Employees by business line
2022
2021 
2020 
Management  
19.9%  
19.7%  
19.5% 
Customer-facing  
31.8%  
31.8%  
32.8% 
Support  
11.0%  
11.1%  
11.1% 
Innovation and technology  
35.4%  
35.0%  
33.3% 
Other 
1.9%  
2.4%  
3.3% 
Group total (1) 
100.0%  
100.0%  
100.0% 
 
Employees by geographical area
2022 
2021 
2020
France  
54.8%  
56.0%  
57.9% 
Spain  
4.0%  
4.1%  
4.3% 
Poland  
7.2%  
7.5%  
8.0% 
Other European countries  
12.5%  
12.2%  
9.6% 
Africa 
 14.9%  
13.8%  
13.3% 
Asia-Pacific  
4.8%  
4.6%  
4.5% 
Americas 
1.8%  
1.8%  
2.4% 
Group total (1) 
100.0%  
100.0%  
100.0% 
Gender equality in the workplace
2022 
2021  
2020 
% of women in the active workforce 
36.1%  
35.9%  
36.0% 
% of women in managerial positions(2) 
31.8%  
31.3%  
31.3% 
% of women in management networks3) 
33.1%  
31.6%  
31.1% 
Employee 
distribution
121
Our impact —
2021 
comp. basis 
2021 
hist. basis 
2020
hist. basis
2022 
Group 
Group 
Group 
Group 
Scope 1 
Units 
Fuel oil 
(all buildings, all uses)  
m³  
80,416 
77,229 
67,325 
65,930
Gas  
m³ 
13,093,561  11,796,163  12,200,067  12,927,319
Coal  
metric tons  
-  
15  
15  
13
Fuel 
liters 
29,974,190 
25,512,742 
25,747,466 
24,656,085
− gasoline/LPG for 
  company vehicles 
liters  
13,545,910 
10,307,906 
10,388,417 
7,692,908
− diesel for company vehicles 
liters 
16,428,280 
15,204,837 
15,359,049 
16,963,178
 
 
 
 
 
 
Scope 1 
energy consumption  
GWh 
770 
707 
687  
1,139 
Scope 1 CO2 emissions 
(from energy only) 
o/w CO2 emissions from 
fuel oil, gas and coal 
o/w CO2 emissions from 
fuel 
CO2eq em. from other 
GHG sources (refrigerants)  
metric tons CO2  
318,182  
298,989  
304,786  
275,009 
metric tons CO2 
242,263 
233,292 
239,762 
211,771 
metric tons CO2 
75,918  
65,697  
65,024  
63,238 
metric tons CO2eq  
17,472  
19,237  
19,237  
7,517 
Scope 1 CO2 emissions  
metric tons CO2eq 
335,654 
321,886 
324,023 
282,526 
Scope 2 
Scope 2 
energy consumption 
GWh 
4,825  
4,653  
4,467  
4,329 
Electricity 
GWh 
4,787 
4,637 
4,467 
4,329 
o/w electricity generated from renewables  GWh 
928 
802 
743 
624 
− backed by Guarantee of Origin certificates GWh  
462  
361 
303 
488 
− from ESCO, solar farm, and on-site solar 
  energy generation agreements 
− from PPAs  
GWh  
GWh  
120  
346  
161  
280 
161  
280 
136 
(Market-based) scope 2 
CO2  emissions 
metric tons CO2  
 909,177  
1,007,095  
978,642  
990,554 
(Location-based) scope 2 
CO2  emissions 
metric tons CO2 
1,130,929  
1,087,798 
Scopes 1 and 2 
Scope 1 and 2 
energy consumption  
GWh  
5,594  
5,360  
5,154  
5,468 
(Market-based) scope 1 
and 2 CO2eq emissions  
metric tons CO2eq  
1,244,830  
1,328,980  
1,302,665  
1,273,080 
Scope 3 CO2 emissions 
related to digital activities
metric tons CO2eq 
6,072,000 
5,979,000 
The reporting coverage rate for scopes 1 and 2 is 97.9% of Orange’s consolidated revenue in 2022. It applies to 2022 only, as it was not 
calculated for previous years. The coverage rate for fuel is 89.7%. 
The reporting coverage rate for scope 3 is 94.1% of Orange’s consolidated revenue in 2021. It applies to 2021 only, as it was not calculated in 
previous years. 
The “Group” figures may not equal the sum of the individual components due to rounding. 
The figures of certain countries in the Middle East and Africa are based on estimates and may be revised. 
The 2021 comparable basis figures reflect the integration of the fixed telephony subsidiary in Romania and updated scope 1 emission factors 
(see the environmental methodology note on pages 345-349 of the 2022 Universal Registration Document). 
(1) The France scope covers Orange France, the Group’s headquarters, and the Orange Business entities operating in the country.
   Item reviewed by KPMG: reasonable assurance. 
(1) The Group’s reporting scope includes all fully consolidated entities. 
(2)  “Managerial positions” refers to executive management, i.e., levels E, F and G of the French collective agreement on telecommunications.
Entities outside France can refer to an explanatory document when determining the most appropriate level for each employee. 
(3)  Executive and leadership networks, with 1,343 people holding positions of great responsibility across the Group at end-2022.
Item reviewed by KPMG: reasonable assurance.

Orange 
2022 Integrated Annual Report
122
Our contribution to the UN 2030 
Agenda for Sustainable Development
f
Build resilient infrastructure, promote inclusive and sustainable 
industrialization and foster innovation 
We develop telecommunications networks and invest in research to 
provide regions, businesses, operators, and individuals with connectivity 
(fixed and mobile networks) and innovative services (IT, cybersecurity and 
mobile financial services). 
Reduce inequality within and among countries 
We give as many people as possible access to technology and knowledge 
and therefore support the integration and empowerment of all members of 
society. We constantly work to reduce digital inequality and strive to 
promote diversity and equal opportunities within our company.
Ensure sustainable consumption and production patterns 
We are introducing more circular economy thinking into our production 
processes and industries by applying an eco-design approach to our 
products, devices and services, prolonging their lifespan, improving 
end-of-life management and reducing our environmental impact (by 
providing collection and recycling solutions). 
Take urgent action to combat climate change and its impacts 
We are working to combat climate change by improving the energy 
efficiency of our infrastructure, using more renewable energy and 
developing solutions to bring about the low-carbon transition. We aim to 
achieve net-zero carbon emissions by 2040.
Promote peaceful and inclusive societies 
We pledge to defend fundamental rights and freedoms and protect privacy. 
We have adopted an ethical approach through our responsible purchasing 
policy and efforts to combat corruption.
Strengthen the means of implementation and revitalize the global 
partnership for sustainable development
We support the social and economic development of regions and form 
partnerships with institutions, development agencies, NGOs, social 
entrepreneurs, innovative SMEs, etc. to fulfil the SDGs, including for 
essential services (mobile money, education, agriculture, healthcare, etc.).
Nearly 99% of the population in our eight operating countries in Europe covered by 4G
f 17 countries in Africa and the Middle East with commercial 4G coverage
f 5G rolled out in 7 European countries and 1 African country
f 9,800 patents and patent applications in our portfolio
f 29.1 m active Orange Money customers
f
f   64.9 m homes with fiber (FTTH) availability
23 countries offering affordable smartphones with internet access
f Member of the Valuable 500 initiative and the ILO Global Business and Disability Network
f 6.5% of Orange SA employees have a disability
f The Hello Women program to promote diversity in the workplace
f Signature of a 6th intergenerational agreement, covering the period from 2022 to 2024
f 1 million participants in the digital workshops and training courses we ran between 2021 and 2022
f
f 18 Orange Digital Centers, including 10 opened in 2022 
Goal of ensuring all products sold under the Orange brand will be developed in line with 
an eco-design approach by 2025
f OSCAR program to increase the use of refurbished IT and network equipment
f Campaigns to share eco-friendly tips
f 1.8% of total mobile sales coming from refurbished devices in Europe
f
f 23.1%: collection rate of unwanted mobiles by Europe
 37.8% of the Group’s electricity derived from renewable sources, 19.4% of which through  
our initiatives
f The Green ITN program to reduce energy consumption across our networks and IT systems
f Development of a catalog of eco-friendly solutions for business customers
f
f A 20.8% decrease in scope 1 and 2 CO2 emissions since 2015
Member of the Global Network Initiative*
f International Charter for Inclusive Artificial Intelligence launched with the Arborus endowment   
fund; holder of the GEEIS-AI label
f 45,000 malicious websites blocked each year
f 87,800 UN-Orange anti-corruption certificates issued to employees
f
f 96% of suppliers committed to complying with the Code of Conduct (ESG)
549 corrective action plans carried out after CSR audits conducted under the JAC**
f Partnership agreement with the Global Fund to Fight AIDS, Tuberculosis and Malaria in 
4 African countries
f 71 active research contracts signed between 2020 and 2022; 5 research chairs funded
f €350 m allocated to Orange Ventures, with €30 m earmarked for start-ups positively  
impacting the environment, inclusion or care through the Orange Ventures Impact fund
We have identified the six UN Sustainable Development Goals (SDGs) where we 
can make the greatest contribution, along with five complementary SDGs. We 
use input and outcome indicators to measure our progress in contributing to 
the UN 2030 Agenda for Sustainable Development.
123
Our impact —
*
An NGO that seeks to safeguard freedom of expression and personal privacy against government restrictions 
** Joint Alliance for CSR

Orange 
2022 Integrated Annual Report
124
How Orange meets the UN 
Sustainable Development Goals 
About 
this report
125
Orange’s eight Integrated Annual Report (IAR) was prepared within 
the framework of the International Integrated Reporting Council 
(IIRC). It integrates the Orange group’s social, ethical, environmental 
and economic data within its business model and strategy. 
It presents the Group’s strategic vision and operational, financial and 
non-financial (environmental, social and governance) performance 
to demonstrate how Orange creates lasting value for all its 
stakeholders.
This collaborative report brings together information from the 
Group’s main operating countries and departments. The steering 
committee comprises representatives from the Investor Relations, 
Corporate Social Responsibility, Legal, Strategy, Brand, and 
Risk Management Departments.
The Shareholder Relations Department is responsible for publishing 
the Integrated Annual Report and would like to thank all the teams 
that contributed to the latest edition.
Network coverage 
Development of digital 
solutions (BtoB) 
Research and innovation 
investment 
Financial services platforms 
Offers for low-income 
households 
Affordable products 
Autonomy offers 
Multi-service offers 
User support 
Training for digital careers 
Community support 
Workplace diversity and 
equality 
Second-hand equipment 
Eco-design approach to 
equipment 
Product collection and repair 
Waste recovery 
Transparency and reporting
CO2 emissions 
Energy-efficient infrastructure 
Renewable energy use 
Supporting our customers on 
their low-carbon journey
Freedom of expression 
Personal data protection and 
confidentiality 
Cybersecurity 
Responsible technological 
developments 
Ethics & compliance 
Efforts to combat workplace 
discrimination 
Responsible purchasing
Support for SMEs/start-ups 
Partnerships (technological 
cooperation, industrial 
partnerships, PPPs) 
Employee outreach
P.4-5; P.10-12; P.14-17; P.30-33; P.58-61; P.68; 
P.73; P.74-83; P.88; P.123 
P.12; P.14-17; P.30-33; P.70-71; P.78-79; P.80; 
P.84-93; P.97; P.103; P.123 
P.13-15; P.23; P.30-33; P.48-49; P.62-63; P.69; 
P.78; P.91; P.120 
P30-33; P.57; P.61; P.64-67; P.69-71; P.123 
P.30-33; P.104; P.119 
P.30-33; P.104; P.119; P.123 
P.104-105 
P.58-61; P.66; P.69; P.104-105 
P.16; P.30-33; P.68; P.70; P.78; P.104-105 
P.13; P.17; P.33; P.46; P.100-107 
P.30-33; P.46-47; P.104-105 
P.13; P.30-33; P.100-101; P.106-107; P.119-120; 
P.123
P.30-33; P.98-99; P.123 
P.17; P.30-33; P.41-42; P.98; P.123
P.30-33; P.48; P.93; P.98-99; P.104; P.119; P.123 
P.30-33; P.99 
P.4-5; P.18-19; P.22-23; P.28-33; P.38-45; P.57; 
P.67; P.73; P.85; P.93-94; P.101; P.112-123; 
P.125 
P.17; P.19; P.28-33; P.42; P.48-49; P.92-94; 
P.96-97; P.119; P.121; P.123 
P.17; P.30-33; P.42; P.48; P.77; P.96; P.119; P.123 
P.19; P.30-33; P.47; P.92-93; P.95; P.96-97; 
P.121; P.123 
P.17; P.42; P.77; P.92-94; P.96-97; P.123 
P.10-11; P.40; P.45; P.118; P.122-123 
P.30-33; P.40; P.45; P.88-89; P.100; P.102-103; 
P.118 
P.11; P.14-17; P.30-33; P.46; P.62; P.84-85; 
P.90-91; P.101; P.102-103; P.115; P.118; P.122 
P.13; P.31; P.41; P.48-49; P.51; P.62; P.69; 
P.76-79 
P.17; P.20; P.30-33; P.43; P.45; P.50-51 
P.30-33; P.106-107; P.123 
P.30-33; P.106; P.99; P.123 
P.30-33; P.51; P.48-49; P.62-63; P.69; P.105; 
P.123 
P.15; P.23; P.31; P.39-40; P.62-63; P.65; 
P.69; P.78-79; P.88-89; P.90-91; P.95; P.105 
P.46-47; P.107; P.123
Build resilient 
infrastructure, 
promote inclusive 
and sustainable 
industrialization and 
foster innovation 
Reduce inequality 
within and among 
countries
Ensure sustainable 
consumption and 
production patterns 
Take urgent action 
to combat climate 
change and its 
impacts
Promote peaceful 
and inclusive 
societies 
Strengthen the 
means of 
implementation and 
revitalize the global 
partnership for 
sustainable 
development
Contacts
 
Investors and analysts
Individual shareholders 
investor.relations@orange.com 
orange@relations-actionnaires.com 
orange.com/en/shareholder-information
Useful linksens 
 
Integrated Annual Report
Corporate website 
Universal Registration Document 
rai2022.orange.com/en 
orange.com/en 
orange.com/en/regulated-information

Orange 
2022 Integrated Annual Report
126 
Notes — 127

Orange
128
Orange – Communication, Brand and Engagement Department 
111, quai du Président-Roosevelt – 92130 Issy-les-Moulineaux, France 
+33 (0)1 44 44 22 22
A French société anonyme with a share capital of €10,640,226,396 –
Registration number 380 129 866 (Nanterre Trade and Companies Register)
Copywriting and graphic design
Pelham Media & Studio L’Éclaireur
Crédits 
©
Getty Images, Nicolas Gouhier, Daisy Reillet, Orange brand site 
All rights reserved
Translation 
Alto International 
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3.1 g C2H2eq/copy
WATER 
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AIR 
POLLUTION 
CLIMATE 
CHANGE 
1,194 g CO2eq/copy
2
1
3
4
5
6
7
angelabower.fr,
rai2022.orange.com/en. 
It

Orange
111, quai du Président-Roosevelt
92130 Issy-les-Moulineaux
+33 (0)1 44 44 22 22
orange.com
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