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1-2016 Financial effect of Social Agreements

Current Report (1/2016),
Orange Polska S.A. – Warsaw, Poland
7 January 2016
Pursuant to art. 56, clause 1, item 1 of the Law of 29 July 2005 on public offering and the conditions for introducing financial instruments to the organised trading system and on public companies (Journal of Laws of 2005, No. 184, item 1539, with amendments), the Management Board of Orange Polska S.A. (“Orange Polska”) informs about the effect of the signed Social Agreements on the financial results of the fourth quarter of 2015.
With reference to the current report 60/2015 from 2 December 2015 concerning signing of Social Agreements with trade unions, the management of Orange Polska is hereby informing about expected financial consequences of these agreements for the financial result of the fourth quarter of 2015. Provision related to employment termination expenses in Orange Polska and its subsidiary Orange Customer Service will amount to PLN 131 million. At the same time the company will reverse provisions related to retirement and jubilee benefits in the amount of PLN 39 million, which will decrease labour expenses. As a result the negative impact on pre-tax profit will come in at PLN 92 million. It will not impact the amount of restated EBITDA.

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