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11
3Q20
22
Agenda
Results Update 3Q20 43
Focus on technological differentiation and market relevance 10
NOS at a Glance 3
Appendix 66
Financial Highlights 34
ESG – A core strategic driver 28
3
44
Agenda
Results Update 3Q20 43
Focus on technological differentiation and market relevance 10
NOS at a Glance 3
Appendix 66
Financial Highlights 34
ESG – A core strategic driver 28
55
1998
Launch of Optimus The 3rd Mobile operator in the market
2007
Spin-off of ZON, the largest Pay TV player in Portugal, (previously PT Multimedia) from Portugal Telecom Group
2013
27 August Merger between ZON and Optimus
2015
Next generation network expansion
2017
FttH Network sharing agreement signed with Vodafone
2014
14 May Rebranding to
2016
Premium sport Content Sharing Agreement signed with PT, Vodafone and Nowo
Reduction stake in Sport TV to 25%
NOS AT A GLANCECOMPANY MILESTONES Back to
Top
2020
Letter of Intent signed with Vodafone to negotiate mobile network sharing agreement
Disposal of NOS International Carrier Services
Disposal of NOS Towering to Cellnex
August - Sonae SGPS, S.A. announces dissolution of ZOPT (pending) and purchase of additional 7.38%
Institutional Presentation
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NOS AT A GLANCEMAIN OPERATIONS Back to
Top
€67 M€33 M
NOSAudiovisuais
(100%)
€69 M€23 M
NOS Cinemas
(100%)
€1,381 M€584 M
NOS Comunicações
(100%)
ZAP(equity consolidation)
(30%)€176 M
Sport TV (equity consolidation)
(25%)€188 M
Dreamia(equity consolidation)
(50%)€176 M
NOS Group€ 1,458M
€ 640 M
€ M Revenues
€ M EBITDA
2019
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NOS AT A GLANCE STRATEGIC GUIDELINES Back to
Top
Institutional Presentation
…underpinned byinnovative
products andservices, unique
customerexperience and
best-in-classoperationalefficiency…
NOS has a strong market position
and a unique combination of assets and skills…
…and fulfil ourcommitment
towards a more sustainable and
equitable society.
…which will be complemented and
leveraged to reinforceour competitive
positioning …
…that will enableus to deliver
attractive and sustainableshareholder
remuneration, while preserving a
strong balance sheet…
88
91%Mkt
Penetration
NOS39.4%
Altice39.9%
Vodafone17.0%
Nowo3.6%
92%Mkt.
Penetration
NOS33.3%
Altice45.1%
Vodafone18.0%
Nowo3.0%
98%Mkt.
Penetration
NOS35.2%
Altice40.4%
Vodafone20.4%
Nowo3.6%
166%Mkt.
Penetration
NOS25.5%
Altice40.9%
Vodafone30.7%
Others2.9%
91%Mkt
Penetration
NOS37.5%
Altice40.2%
Vodafone18.8%
Nowo3.5%
3,464M€
Total Mkt Ytd
NOS32.9%
Altice38.9%
Vodafone25.7%
Nowo1.8%
NOS AT A GLANCEA STRONG MARKET POSITION IN A RELATIVELY MATURE MARKET
Source: ANACOM. Pay TV, Fixed Broadband and Fixed Voice: residential penetration
Back to
Top
Pay TV, Total Market 4.2 subs [% Subs, Anacom Data 3Q20] Fixed BB, Total Market 4.1M subs [% Subs, Anacom Data 3Q20] Multiple Play Bundles, Total Market 3.7 Subs [% Subs, 2Q20]
Fixed Voice, Total Market 5.2M accesses [% Subs, Anacom Data 3Q20] Mobile, Total Market 17.1M subs [% Subs, Anacom Data 3Q20] Retail Revenues [YtD; FY19]
Institutional Presentation
99
98% 95%
168%
64%
86%
126%
Pay TV Fixed BB Mobile
3,650 3,638 3,603
3,451 3,464
2015 2016 2017 2018 2019
-1.0% -4.2% +0.4%
NOS AT A GLANCETHE PORTUGUESE TELCO MARKET IS HIGHLY COMPETITIVE, MATURE AND WELL PENETRATED
European AvaragePortugal
Source: Market Regulators. European average includes Sweden, Spain, UK, France and Germany.
Back to
Top
55.9%57.9%
59.8%
1Q18 2018 2019
NOS, Convergent + Integrated Penetration [%] Service Penetration [2019, %] Total Market Retail Revenues, YoY Change [Millions of Euros; % ]
-0.3%
Institutional Presentation
1010
Back to
Top
Source: Apritel, Portuguese Telecom Operators Association. VAT and PPP applied. Analysis as of July 2019.
Average
France Portugal Germany Austria Spain Ireland Hungary Estonia Netherlands UK Belgium
Average
France Portugal Austria Germany Ireland UK Estonia Spain Belgium Netherlands Hungary
3P
4P
NOS AT A GLANCEREFERENCE PRICES IN PORTUGAL ARE AMONGST THE LOWEST IN EUROPE
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20%
17%
16%
34%
17%
2012 2013 2014 2015 2016 2017 2018 2019
SpainPortugal 3 Main Operators UK France Germany
79%
86%
15%
57%
10%
Portugal Spain UK France Germany
NOS AT A GLANCEPORTUGAL IS ONE OF THE MOST INVESTED MARKETS IN THE SECTOR WITH EXTENSIVE FIXED NGN COVERAGE AND OVERLAP
Sources: Market Regulators; Operator Reports; FttH Council Europe.
Back to
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FTTH
(3.6M)
FTTH
(5.4M)
FTTH (1.6M) / DOCSIS 3.1 (3.0 M)
Total (4.8M)
HFC /
DOCSIS
3.0 (0.9M)
ADSL
DTH
Competitor C
Competitor B
Competitor A
NOS
Homes Passed by Operator and Techonology FttH Availability [%, 2019] Capex as % of Revenues [ % ]
Institutional Presentation
12
Focus ontechnological
differentiation andmarket relevance
1313
Agenda
Results Update 3Q20 43
Focus on technological differentiation and market relevance 10
NOS at a Glance 3
Appendix 66
Financial Highlights 34
ESG – A core strategic driver 28
1414
A long track record of innovation
IRIS
2011
YoutubeLeanback
2017
RDK STB 4K
2016
nPVR
2014
7 Day Restart
2013
UMA New
Interface
2018
FOCUS ON TECHNOLOGICAL DIFFERENTIATION AND MARKET RELEVANCEINNOVATION IS AT THE CORE OF OUR SERVICES
NOS Play
2015
Back to
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New generation of internet
equipments
2019
UMAApple TV
set-top box & Woo
2020
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UMA
Voted best TV user interface (UI)in Portugal since 2017
UMA TV with over 180 channels inside the home, videoclub rentals, purchases and access to content of the past 7 days
Ultra HD 4K content, voice control and user profiles, with recommendations of programmes suited
Nplay the best series and movies OTT
Exclusive launch of YouTube inside UMA in 2017 and first to launch Youtube native app in HTML 5 for TV
Interface upgrade with more content and better experience with an exclusive UI for children
FOCUS ON TECHNOLOGICAL DIFFERENTIATION AND MARKET RELEVANCERAPIDLY CHANGING CONSUMER TRENDS AND PREFERENCES - THE BEST TV EXPERIENCE Back to
Top
NOS TV
Voted best OTT platform in Portugal, since 2017, in Android & IOS Portuguese store
Replicates UMA TV experience with over 120 channels providing access to videoclub, 7 days automatic recording across all devices
- transfer content from any platform to the TV screen
- pause live TV and continue viewing in any other platform
The only OTT platform in Portugal offering the picture in picture (pip) feature
The first TV app in Portugal to provide 4K content
Apple TV with UMA
First operator in the world to integrate Apple TV 4K HDR 64GB in rental TV packages
Access to the best channels and features of the UMA TV experience
Access to over 2 thousand Apps, likeNetflix, HBO, AmazonPrime and muchmore
Guarantee the latest version of the Apple TV box
Remote with touch control for fasterand more fluid navigation
Video broadcast quality
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FOCUS ON TECHNOLOGICAL DIFFERENTIATION AND MARKET RELEVANCERAPIDLY CHANGING CONSUMER TRENDS AND PREFERENCES - THE BEST TECHNOLOGY Back to
Top
RDK middleware enhanced, matching the experience of other large telcos with over 600 million devices
Better quality for a fraction of the cost (knowledge sharing)
Longer life cycle at customer premises, due to IP based technology and cloud upgrade enabled software
OTT Ready
4k and the best video technology
Voice Control on cloud allowing for constant self-learning and consequent enhancements
Hybrid Set-Top Box Internet equipments
GiGA routers - New generation of routers, for both FttH and HFC networks, enabling upgrades in commercial offers to 1GB
New routers in the portfolio off-the-shelf approach,guaranteeing better time to market and more maturesolutions
Offers with higher throughput in Upstream, enabled by increased capacity in DOCSIS 3.1 Upstream and Downstream
WOO
First 100% digital telco technology in Portugal
WOO has an offer centered on mobile and fixed internet services, in addition to mobile voice
WOO app - Customers can manage their internet service, check their balance and requesttechnical assistance whenevernecessary. Chat available 24/7
When data limit is reached, internet connection is stillavailable and guaranteed, at a reduced speed of 64kb/sec, still allowing messaging appsand email usage
Institutional Presentation
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Back to
Top
Focus on Digital Commercial Channels
Updating CPE ExperienceCustomized Customer
ManagementImproving Content
Consumption Experience
Growth in Equipments Category
FOCUS ON TECHNOLOGICAL DIFFERENTIATION AND MARKET RELEVANCEB2C: GROWTH THROUGH INNOVATION AND NEW OPPORTUNITIES WHILE MANAGING CUSTOMER VALUE AND IMPROVING NPS
Explore Opportunities to Grow On Mobile Standalone
Customer centric value propositions
Personalized customer-base management
Take advantage of technological disruptions
Explore segments and channel opportunities
Institutional Presentation
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FOCUS ON TECHNOLOGICAL DIFFERENTIATION AND MARKET RELEVANCEB2C: PIONEERING INNOVATION AND FOCUS ON ADDRESSING THE FUTURE Back to
Top
Wide range of equipments(smartphones, TVs,
and 0% interest rates financing options available
NOS Card enhances competitive advantage
wide cinema network
FttH and DOCSIS network grid ready for
speeds up to 1Gbps
First and only telco in Portugal where clients
can choose from different mobile plans
in-bundle
Award-winning 5G ready mobile network
Only telco in Portugal with a TV channel
developed inhouse (NOS STUDIOS)
Digital first approach driving massification of
usage across all businesses (e.g. selfcare app = 30% penetration)
market challenger, has an innovative approach
through strong partnerships (Uber,
Revolut
First Portuguese operator to integrate
AppleTV as main Set Top Box on its TV Offer
Pioneer Portuguese Telecom to launch the
first WiFI Mesh solution with IA (partnership with
PLUME)
Institutional Presentation
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FOCUS ON TECHNOLOGICAL DIFFERENTIATION AND MARKET RELEVANCEB2B: A PARTNER FOR BUSINESSES TRANSFORMATION Back to
Top
Protection of existing revenues and accounts whilst expanding the base and penetration of IT, Data Analytics Services, Managed Services, namely
SAP Hana and IoT solutions
Investment in technological assets and network to enable best in class delivery
of telco, IT and IoT solution services, namely taking first steps tests, with
CEEIA and Matosinhos City in pioneering technology solutions in real 5G environments at a national level
Evolution of the hybrid cloud and multi-cloud value proposition, materialized in
strategic partnerships with the main public cloud providers and in the
migration and management of hybrid architectures for large Corporate clients
Successful growth of IoT and Business Analytics solutions in key corporate accounts, reflecting the trust our clients place in our innovative M2M and business intelligence services
Launch of value proposals to accelerate digital transformation of businesses within the context of the COVID-19 pandemic, namely as regards mobility and implementation of game-changing technological solutions for communications , security and workplace management
-media campaign presenting NOS customers that are Transformers, changing their companies for the better. One example is Carris (Lisbon transport operator), which has 42 thousand users and 5TB of data on NOS Wi-Fi on their buses, available for free for their customers.
Institutional Presentation
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FOCUS ON TECHNOLOGICAL DIFFERENTIATION AND MARKET RELEVANCEB2B: A PARTNER FOR BUSINESSES TRANSFORMATION Back to
Top
Vila Nova de Famalicão becomesa Smart City with NOS
SOL and Pixels Camp open innovation programs identified
new startups for IoT and Analytics pilots
Pioneering technology solutions in real 5G environments
Creation of the #stayathomemobility patterns sharing and analysis under the COVID-19
context
Launch of gas smartmeteringpilot initiatives with NB-IoT
technology
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Better segmentation with greater use of analytics and targeted sales channels
Central Pro and Contact CenterVirtual solutions for professional
management calls
Wi-Fi ProProvides tailor made
professional Wifisolutions for SMEs
FOCUS ON TECHNOLOGICAL DIFFERENTIATION AND MARKET RELEVANCEB2B: GREATER SEGMENTATION IN SMES, FOCUS ON SERVICE LEVELS, CUSTOMER EXPERIENCE AND DIGITAL OFFERS
Transformation of operating and service model and focus on customer service and satisfaction
Offer simplification and focus on segment relevant innovation with more solutions that allow companies to adapt and embrace innovation in their channel strategy
Back to
Top
Greater focus on communication with clients and non-clients, indicating how these solutions can change their businesses
Power Wi-FiA simple solution that
ensures wi-fi throughout the
company
AudioconferênciaSolution to organize virtual call meetings between employees,
customers and suppliers.
Microsoft 365Multiple collaboration
and productivitysolutions developed byMicrosoft to promote
greater team agility andperformance
Ementa Digital ProGuarantees contactless
interactions in coffee shops, restaurants and
pubs through digital
management
Câmara Térmica ProSolution to measure
and monitor the temperature of
individuals through a thermal camera
Powered by
Professional equipments
Professional notebooks and tablets, with the
Windows Pro operating system, without initial
investment.
Equipments -monthly installmentsRange of smartphones, TVs and Laptops with
low monthly payments and zero interest.
Cafés e Restaurantes
Offer that integrates the most relevant Sports contents
Institutional Presentation
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Evolve HFC Grow FttH+
Full duplex(N+0)
Distributedarchitecture
DOCSIS 3.1
10 GPON
Footprint
Mbps
FOCUS ON TECHNOLOGICAL DIFFERENTIATION AND MARKET RELEVANCENETWORK: INVESTING IN LONG TERM COMPETITIVENESS OF FIXED NETWORK - GOING TO DEEP FIBRE Back to
Top
Institutional Presentation
2323
50
139
257296
343382
453493
560
618
61
149
277317
361
424461
509550
613
1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20
FttH Swap: HP delivered to date (cumulative)CAPEX Per Home FttH Network (NOS, DST and VDF)
VDF to NOS NOS to VDF
2.6 million FttH households to be swapped withVodafone until 2022 (1.2 million NOS, 1.4 million Vodafone)
FOCUS ON TECHNOLOGICAL DIFFERENTIATION AND MARKET RELEVANCENETWORK: INVESTMENT SHARING AS AN ECONOMICALLY RATIONAL CHOICE Back to
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0
50
100
150
200
250
(Euro)
201920162015 2017
Cost per Home (FttH – NOS)
Cost per Home (FttH – Total)
-60%
2018
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0.2
5.0
3.33.6
3.9 4.14.4
4.6 4.7 4.8 4.8 5.0 5.1 5.2
2014 2015 2016 2017 2018 2019 2020E 2021E 2022E 2023E 2024E 2025E
3.2%
9.4%
15.3%
18.2%
26.6%
32.6% 33.2%35.0%
37.8%
2014 2015 2016 2017 2018 2019 1Q20 2Q20 3Q20
NOS FttH Evolution (NOS, DST and VDF) [Million Homes]% NOS Homes Passed with FttH
HFC FTTH
FOCUS ON TECHNOLOGICAL DIFFERENTIATION AND MARKET RELEVANCE
Note: FttH includes DST and Vodafone
Back to
Top
Institutional Presentation
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FOCUS ON TECHNOLOGICAL DIFFERENTIATION AND MARKET RELEVANCESUCCESSFUL COMPLETION OF TOWER DEAL AND LONG-TERM AGREEMENT WITH CELLNEXSIGNIFICANT VALUE CREATION AND FURTHER REINFORCEMENT OF CAPITAL STRUCTURE
Back to
Top
Institutional Presentation
550 Million euros
proceeds over 6Y
Million Euros alreadyreceived in 3Q20
2000
+ 400
Towers sold in equitytransaction
Towers additionalperimeter over next
6Y
SIGNIFICANT VALUE CREATION
with deal closedat high end of range
for comparabletransactions
TRANSACTION MULTIPLE
significantly aboveNOS trading multiples
2626
FOCUS ON TECHNOLOGICAL DIFFERENTIATION AND MARKET RELEVANCESTRATEGIC MOBILE NETWORK SHARING DEAL REACHED WITH VODAFONE Back to
Top
Institutional Presentation
01More efficient deployment and running of all technologies, current and future
02More Environmentally and Socially Responsible
03Increased coverageand network quality
Independent Transmission
High Density areasTwo independent Networks
Independent RAN installed on
shared sites (Owned or leased)
Passive infrastructure
Sharing
IndependentTransmission
Build / WS rental
Low Density areasSingle shared network
Single RAN network on Shared sites
Passive infrastructure
Sharing
2727
Before After Before After Before After
Carrier aggregation implemented > 60% “Excellent” 99.6% retention rate
23%
24%
100%
FOCUS ON TECHNOLOGICAL DIFFERENTIATION AND MARKET RELEVANCENETWORK: MOBILE MODERNIZATION DRIVING SIGNIFICANT PERFORMANCE IMPROVEMENT Back to
Top
User Throughput Voice Quality Drop Call
Institutional Presentation
28
FOCUS ON TECHNOLOGICAL DIFFERENTIATION AND MARKET RELEVANCEOPERATING MODEL TRANSFORMATION: COMPANY-WIDE PROGRAMME AGGREGATING AROUND 60 INITIATIVES
Digital
Data Management & Adv. Analytics
RPA & AI
New Ways of Working
TRANSFORMATION PROGRAMME
CustomerLighthouse
Next Gen Marketing & Sales
CustomerService 4.0
Service Failure Avoidance and Mgmt
Offer Simplification
Segment of One
RelationshipLifecycle Management
E2E Process Integrity
New Service Models
Smart Network and Operations
Zero Waste
Simplify & Automate
Customer Experience Offer and Business Model Customer Centric Processes Fitness Enablers
Back to
Top
STRATEGIC AMBITION
CORE OBJECTIVES
Revolutionize Customer Centricity focusing on quality and experience
1.
Build a Fitter Operating Model
2.
Achieve NPS leadership
Boost digital weight on total client interactions
Capture recurring cash savings
Institutional Presentation
29
ESG A core strategic driver
3030
Agenda
Results Update 3Q20 43
Focus on technological differentiation and market relevance 10
NOS at a Glance 3
Appendix 66
Financial Highlights 34
ESG – A core strategic driver 28
3131
ESG A CORE STRATEGIC DRIVERESG: SUSTAINABILITY IS A CORE PILLAR OF OUR STRATEGIC PLAN Back to
Top
We add value and we are sustainable: NOS is committed to helping develop society by providing innovative and accessible products and services, whilst acting in a responsible and ethical manner towards all our stakeholders
commitments:
1Act in a responsible manner towards and engage proactively with our employees, customers, suppliers, financial stakeholders and community at wide
2Reduce our environmental footprint and develop products and services that help other organizations reduce theirs
3Develop products and services designed to improve quality of life for individuals and society in general
Institutional Presentation
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ESG A CORE STRATEGIC DRIVERESG: SUSTAINABILITY IS A CORE PILLAR OF OUR STRATEGIC PLAN Back to
Top
NOS is a signatory to a number of initiatives that enhance our strategic commitment to sustainability
4European Green Capital Commitment Lisbon 2020We have joined up with the Lisbon City Council to make Lisbon a benchmark in environmental sustainability, setting out actions in such areas as the circular economy, mobility, energy, raising awareness and mobilizing people.
2
United Nations: Business Ambition for 1.5ºCWe have set specific goals to reduce greenhouse gas emissions, goals that are essential to slow down global warming. We are committed to adopt a science based target reduction objective by the end of 2021.
3World Business Council for Sustainable
Guide to Human RightsWe seek to respect human rights in the search for positive transformations in the lives of our staff and the communities impacted by our business activities.
wbcsd1United Nations Global CompactWe actively contribute towards the 10 principles of the United Nations Global Compact and the Sustainable Development Objectives (SDOs).
Institutional Presentation
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ESG A CORE STRATEGIC DRIVERESG: SUSTAINABILITY IS A CORE PILLAR OF OUR STRATEGIC PLAN Back to
Top
The way we do business and how we act in the market and society are governed by ethical principles and values which underpin our ambition and the growth objectives that we wish to achieve.
3Plan for Gender EqualityReflects our commitment to meritocracy, in all its forms and how we put it into practice.
2Sustainability Requirements for Suppliers and PartnersGuidelines that reflect the essential elements of our position, commitment and performance in relation to sustainability, and which must be adopted by NOS Suppliers and Partners.
1Code of EthicsSets out the principles and rules that govern NOS
and external relationships with stakeholders.
4Privacy PolicyGuarantees the confidentiality of our
line with international standards and best practices, reinforcing business confidence and security.
Institutional Presentation
3434
ESG A CORE STRATEGIC DRIVERESG: SUSTAINABILITY IS A CORE PILLAR OF OUR STRATEGIC PLAN Back to
Top
Institutional Presentation
Sharing and recognition: In 2020, we shared our ESG practices with independent entities and otherstakeholders, proving that we make a difference with customers, suppliers, employees and communities. Weare proactively engaging with leading agencies to reinforce public awareness around our ESG strategy andcontinuous development.
2
VigeoEirisIn 2020, we reached a global score of 60/100 in the VigeoEiris ESG Rating, with our ESG performance considered
NOS SGPS 5th/41 in the Telecommunications sector (Europe).
1Carbon DisclosureProject (CDP)In 2020, we participated for the first time in the ClimateProgram and are currentlyawaiting final score which willbe publicly disclosed. Ourresponse is publicly disclosed.
3
Sustainability ReportFor the third consecutive year, we share, with all stakeholders, the
performance in the economic, environmental and social dimensions.
35
3636
Agenda
Results Update 3Q20 43
Focus on technological differentiation and market relevance 10
NOS at a Glance 3
Appendix 66
Financial Highlights 34
ESG – A core strategic driver 28
3737
-7.3%
19.3%2.9% 5.1% -1.1%
10.0%
-69.3%
2014 2015 2016 2017 2018 2019 9M20
-3.6%
22.0%
0.5% 0.3%-12.0%
5.3%
-42.2%
2014 2015 2016 2017 2018 2019 9M20
-3.0%
4.4% 4.9%3.1%
1.1% 1.5%
-7.2%
2014 2015 2016 2017 2018 2019 9M20
-2.7%
3.8% 5.1% 3.1%1.5% 1.1%
-3.8%
2014 2015 2016 2017 2018 2019 9M20
FINANCIAL HIGHLIGHTSREVENUE PERFORMANCE DRIVEN PRIMARILY BY TELECOMS BUSINESS. 2020 IMPACTED BY COVID-19. Back to
Top
FY191,458 M
FY191,381 M
FY1967 M
FY1969 M
Note: Growth rates as reported in each period.
Consolidated Revenues (YoY, %)
+2.9%CAGR
Audiovisuals Revenues (YoY, %)
+2.6%CAGR
Telco Revenues (YoY, %)
+2.9%CAGR
+7.0%CAGR
Cinema Exhibition Revenues (YoY, %)
COVID-19Impact
COVID-19Impact
COVID-19Impact
COVID-19Impact
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2014 2019
FINANCIAL HIGHLIGHTSDESPITE STRONG GROWTH IN TRAFFIC, SUBSCRIBERS AND COVERAGE, UNIT COSTDECLINES AND OPERATIONAL EFFICIENCIES HAVE LED TO MATERIAL OPEX SAVINGS
Back to
Top
3.5x
1.4x
2.4x
Fixed Traffic Fixed BB Subs Fixed Traffic / Sub
+28%CAGR
+7%CAGR
+19%CAGR
+43%CAGR
+8%CAGR
+32%CAGR
+0.4%
+0.1%CAGR
Fixed Growth 2014 → 2019 Mobile Growth 2014 → 2019 NOS Network OPEX [M €]
9.7x
1.3x
7.3x
Mobile Traffic Mobile Subs Mobile Traffic / Sub
Institutional Presentation
Growth in the number of subscribers and in traffic per subscriber led to fixed and mobile traffic being 3.5x and 9.7x greater in 2019 than in 2014, respectively.
Through unit cost declines and operational efficiencies, network OPEX increased by only 0.4% in the same period.
3939
420M
Programming
Traffic + Interconn
Other
FINANCIAL HIGHLIGHTSLONG TERM TRANSFORMATION PROGRAMME TARGETING NON-DIRECT COST BASE Back to
Top
Other
CommercialCosts
CustomerRelated
W&S
Supplies & ExternalServices
Support +Maintenance
399M
Direct Costs [M €] Non-Direct Costs [M €]Total OPEX [M €]
818.3 818.4
2018 2019
Institutional Presentation
4040
181.2192.6
11.5% 12.0%
6.0%
8.0%
10. 0%
12. 0%
14. 0%
16. 0%
100.0
120.0
140.0
160.0
180.0
200.0
220.0
2018 2019
622.3640.0
43.2%43.9%
41. 0%
42. 0%
43. 0%
44. 0%
45. 0%
46. 0%
47. 0%
380.0
430.0
480.0
530.0
580.0
630.0
680.0
2018 2019
FINANCIAL HIGHLIGHTSSOLID EBITDA PERFORMANCE, OUTGROWING REVENUES AND STRONG FCF CONVERSION RATE Back to
Top
567.2583.9
41.4%42.3%
38. 0%
39. 0%
40. 0%
41. 0%
42. 0%
43. 0%
44. 0%
45. 0%
46. 0%
47. 0%
380.0
430.0
480.0
530.0
580.0
630.0
2018 2019
180.4
146.8
9.7% 9.2%
0.0%
2.0%
4.0%
6.0%
8.0%
10. 0%
12. 0%
14. 0%
16. 0%
18. 0%
20. 0%
0.0
20. 0
40. 0
60. 0
80. 0
100.0
120.0
140.0
160.0
180.0
200.0
2018 2019
Non-Recurrent Impact
+2.8%YoY
+6.3%YoY
Consolidated EBITDA and Margin (Millions of Euros, %) Telco EBITDA and Margin (Millions of Euros, %)
+2.9%YoY
OCF Incl. Leasings, % of Revenues (Millions of Euros, %) FCF Bef. Dividends, Recurrent FCF as % of Revenues (Millions of Euros)
+5.3%YoY
Recurrent FCF Growth
Institutional Presentation
4141
346 344
28 3050 70
424 444
2018 2019
Telco CAPEX AV & Cinema Leasings
346 344
28 3050 70
424 444
2018 2019
200
(14.6%)
203
(14.7%)
146
(10.7%)
141
(10.2%)
346 344
2018 2019
CPE
Installation
Commissions& Others
FINANCIAL HIGHLIGHTSTELCO CAPEX HAS REMAINED RELATIVELY STEADY, WITH WEIGHT OF TECHNICAL CAPEX INCREASING Back to
Top
+4.8%YoY
Total CAPEX Including Leasings (Millions of Euros) Telco CAPEX Excl Leasings, % of Telco Revenues (Millions of Euros, %)
+1.4%YoY
2019 Customer CAPEX Breakdown (%) 2019 Technical CAPEX Breakdown (%)
NW Exp, substitution,
int. proj. & others
Baseline
193 200
148 146
341 346
2018 2019
Technical Customer Related
141M 203M
Institutional Presentation
4242
2.0%1.9%
1.7%1.6% 1.7%
1.5%1.4%
1.3%1.1%
1.3%1.2%
1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20
Average Cost of Debt [%]
Net Financial Debt, Net Financial Debt/EBITDA AL [€millions, X]
Investment Gradecredit rating in 1Q18
(reaffirmed in 1Q20 by S&P) recognizes operational prospects and financial
stability
BBB-Stable
Outlook
Fitch
BBBStable
Outlook
FINANCIAL HIGHLIGHTSCONTINUED STRENGTH OF BALANCE SHEET AND FURTHER REDUCTION IN COST OF DEBT Back to
Top
595 M Cash & Liquidity Position
1,0431,094
771
1.9x 1.9x
1.4x
1.2x
1.4x
1.6x
1.8x
2.0x
2.2x
2.4x
500
600
700
800
900
1,000
1,100
1,200
2018 2019 9M20
Net Debt, Net Debt/EBITDA [€millions, X]
Institutional Presentation
1,295 1,347 1,348
2.1x 2.1x2.2x
1.2x
1.4x
1.6x
1.8x
2.0x
2.2x
2.4x
2.6x
2.8x
3.0x
500
600
700
800
900
1,000
1,100
1,200
1,300
1,400
2018 2019 9M20
4343
FINANCIAL HIGHLIGHTSA TRACK RECORD OF ATTRACTIVE SHAREHOLDER REMUNERATION WHILST MAINTAINING BALANCE SHEET AND COMPETITIVE STRENGTH
Back to
Top
Dividend Per Share [Euro Cents]
Payout as % of Net Income [%] Payout as % of Free Cash Flow [%]
14.0 16.020.0
30.035.0
27.8
2014 2015 2016 2017 2018 2019
97% 100%114%
125% 127%
100%
2014 2015 2016 2017 2018 2019
115%
247%
190%
116% 100% 98%
2014 2015 2016 2017 2018 2019
Institutional Presentation
4444
3Q20
45
Agenda
Results Update 3Q20 43
Focus on technological differentiation and market relevance 10
NOS at a Glance 3
Appendix 66
Financial Highlights 34
ESG – A core strategic driver 28
46
Agenda
Results Update 3Q20
Strong underlying telco performance shows business resilience through pandemic
NOS operates in one of the most competitive and technologically developed markets in Europe
Differentiation through Product and Service innovation and technological leadership
Financial recovery quarter on quarter,with solid telco performance, costefficiency and reinforced balance sheet
i
ii
iii
iv
472Q20 Earnings Presentation
STRONG UNDERLYING TELCO PERFORMANCE SHOWS BUSINESS RESILIENCE THROUGH PANDEMIC
STRONG TELCO PERFORMANCE REFLECTING DEFENSIVE NATURE OF BUSINESS Back to
Top
Institutional Presentation
39,7 42,3
-4,0
22,8
102,1
3Q19 4Q19 1Q20 2Q20 3Q20
Pay TVNet Adds kk
BroadbandNet Adds kk
MobileNet Adds kk
1,452thousand customersend 3Q20
1,656thousand customersend 3Q20
4,972thousand customersend 3Q20
14,3
7,3
5,33,9
8,5
3Q19 4Q19 1Q20 2Q20 3Q20
12,6 12,2
10,2
15,3
11,7
3Q19 4Q19 1Q20 2Q20 3Q20
482Q20 Earnings Presentation
STRONG UNDERLYING TELCO PERFORMANCE SHOWS BUSINESS RESILIENCE THROUGH PANDEMIC
NETWORK EXPANSION AND LOWER YOY CHURN CONTINUE TO SUPPORT GOOD PAY TV PERFORMANCE Back to
Top
Institutional Presentation
Thousands
NOS Network Expansion, Fixed Pay TV Net Adds
Rebased, 1Q15 = 100
FixedResidentialChurn
76
4127
50
106
18
94 4
100
5
10
15
20
25
30
0
20
40
60
80
100
120
3Q19 4Q19 1Q20 2Q20 3Q20
9684 80 74 78
8979 75 73 76 72 74
4Q
17
1Q
18
2Q
18
3Q
18
4Q
18
1Q
19
2Q
19
3Q
19
4Q
19
1Q
20
2Q
20
3Q
20
76
4127
50
106
18
94 4
100
5
1 0
1 5
2 0
2 5
3 0
0
2 0
4 0
6 0
8 0
1 0 0
1 20
3Q19 4Q19 1Q20 2Q20 3Q20
New HH Passed Fixed Access Pay TV Net Adds
492Q20 Earnings Presentation
STRONG UNDERLYING TELCO PERFORMANCE SHOWS BUSINESS RESILIENCE THROUGH PANDEMIC
CONSUMERS PREFER CONVERGENT OFFERS WITH AN INTEGRATED VALUE PROPOSITION Back to
Top
Institutional Presentation
Just 10% of TELCO revenues are generated by stand-alone mobile servicewith the vast majority of consumers subscribing to convergent bundles
NOS CONVERGENT+INTEGRATED SUBSCRIBERS% NOS fixed subscribers
4P180 channels
61.3%
200 Mbps Unlimited 1 SIM Card 2 GB
1Q
13
2Q
13
3Q
13
4Q
13
1Q
14
2Q
14
3Q
14
4Q
14
1Q
15
2Q
15
3Q
15
4Q
15
1Q
16
2Q
16
3Q
16
4Q
16
1Q
17
2Q
17
3Q
17
4Q
17
1Q
18
2Q
18
3Q
18
4Q
18
1Q
19
2Q
19
3Q
19
4Q
19
1Q
20
2Q
20
3Q
20
50
Agenda
Results Update 3Q20
Strong underlying telco performance shows business resilience through pandemic
NOS operates in one of the most competitive and technologically developed markets in Europe
Differentiation through Product and Service innovation and technological leadership
Financial recovery quarter on quarter,with solid telco performance, costefficiency and reinforced balance sheet
i
ii
iii
iv
512Q20 Earnings Presentation
NOS OPERATES IN ONE OF THE MOST COMPETITIVE AND TECHNOLOGICALLY DEVELOPED MARKETS IN EUROPE
PORTUGAL LEADS IN NEXT GENERATION FIXED AND MOBILE SERVICE PENETRATION Back to
Top
Institutional Presentation
66
5653
5149
45 45
4038
34 3432
29 2825
2321 21 20 19
1715 14 13
11
6
2 1
Sw
ed
en
Po
rtu
ga
l
Sp
ain
Hu
ng
ary
Ro
ma
nia
Be
lgiu
m
Lu
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mb
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Ne
the
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s
La
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De
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ark
Ma
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Lit
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Au
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a
Po
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d
Ire
lan
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Fin
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Ge
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ny
Slo
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nia
Cze
ch
Re
pu
blic
Un
ite
d K
ing
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Fra
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e
Slo
va
kia
Es
ton
ia
Ita
ly
Bu
lga
ria
Cro
ati
a
Cy
pru
s
Gre
ec
e
245
189
172170
164164162
153 151
142139136135132 131128128127127127125123122
117113 112109108
Sw
ed
en
Es
ton
ia
Fin
lan
d
Po
rtu
ga
l
De
nm
ark
Ita
ly
Au
stri
a
Bu
lga
ria
Lit
hu
an
ia
Ge
rma
ny
Cy
pru
s
La
tvia
Ma
lta
Lu
xe
mb
ou
rg
Po
lan
d
Fra
nc
e
Un
ite
d K
ing
do
m
Cze
ch
Re
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Slo
va
kia
Gre
ec
e
Ire
lan
d
Be
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Ne
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Slo
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nia
Ro
ma
nia
Sp
ain
Hu
ng
ary
Cro
ati
a
Mobile Services Penetration 2019, %Penetration ofFixed Broadband Services
2020, % ofHouseholds
EU Average
137%
Source: European Commission, Digital Economy and Society Index 2019
EU Average
26%
522Q20 Earnings Presentation
NOS OPERATES IN ONE OF THE MOST COMPETITIVE AND TECHNOLOGICALLY DEVELOPED MARKETS IN EUROPE
AND IS AT THE FOREFRONT OF NEXT GENERATION NETWORK COVERAGE IN EUROPE Back to
Top
Institutional Presentation
99.8%Mobile VoiceService Coverage1
1. NOS network population coverage at the end of 2019
4G Coverage
EU
96%Portugal
96%
8887
77
7270
6864 63 63
61 6159
54
38 38 38 3836 35
3230 29
24 23
13 139
41 1 0
La
tvia
Po
rtu
ga
l
Sp
ain
Sw
ed
en
Slo
va
kia
Ice
lan
d
De
nm
ark
Lu
xe
mb
ou
rg
Ro
ma
nia
Slo
ve
nia
Lit
hu
an
ia
No
rwa
y
Es
ton
ia
Cze
ch
Re
pu
blic
Bu
lga
ria
Fra
nc
e
Fin
lan
d
Hu
ng
ary
Ne
the
rla
nd
s
Ma
lta
Sw
itze
rla
nd
Po
lan
d
Ita
ly
Cro
ati
a
Au
stri
a
Ire
lan
d
Ge
rma
ny
Un
ite
d K
ing
do
m
Be
lgiu
m
Cy
pru
s
Gre
ec
e
Fixed Gigabit Network Coverage % of Homes
Source: DES 2020, Report on Portugal. https://ec.europa.eu/digital-single-market/en/scoreboard/portugal,
Mobile Network Coverage2020, %
EU Average
30%
532Q20 Earnings Presentation
NOS OPERATES IN ONE OF THE MOST COMPETITIVE AND TECHNOLOGICALLY DEVELOPED MARKETS IN EUROPE
PRICES IN PORTUGAL ARE AMONG THE LOWEST IN EUROPE Back to
Top
Institutional Presentation
19,0
21,6 22,023,3
26,3 26,928,3
29,0 29,7 30,030,0
44,4
47,4
59,964,9
67,6
74,278,2
80,6 81,882,3
87,8
100,3
Source: Deloitte, July 2019. Includes VAT and PPP.
Po
rtu
ga
l
Fra
nc
e
Est
on
ia
Ge
rma
ny
Au
stri
a
Ire
lan
d
Sp
ain
UK
Be
lgiu
m
Ne
the
rla
nd
s
Hu
ng
ary
Ge
rma
ny
Ita
ly
UK
Au
stri
a
Be
lgiu
m
Est
on
ia
Po
rtu
ga
l
Fra
nc
e
Ire
lan
d
Gre
ec
e
Sp
ain
Ne
the
rla
nd
s
Average price of 4P BundlesMonthly,
Average price of Fixed Broadband100 Mbps, Monthly,
Average
75Average
26
54
Agenda
Results Update 3Q20
Strong underlying telco performance shows business resilience through pandemic
NOS operates in one of the most competitive and technologically developed markets in Europe
Differentiation through Product and Service innovation and technological leadership
Financial recovery quarter on quarter,with solid telco performance, costefficiency and reinforced balance sheet
i
ii
iii
iv
552Q20 Earnings Presentation
DIFFERENTIATION THROUGH PRODUCT AND SERVICE INNOVATION AND TECHNOLOGICAL LEADERSHIP
PROVIDING THE BEST COMMUNICATION AND ENTERTAINMENT SOLUTIONS FOR THE HOME Back to
Top
Institutional Presentation
THE BEST INTERNET
Launch of Giga router and new power WiFi
THE BEST TV EXPERIENCE
UMA voted Product of the year 2020 -3rd year running
Launch of Apple TV 4K box with UMA interface
FOREFRONT OF INNOVATION
IoT offers for Consumer Market 5G ready
GIGA ROUTER
NEWPOWER WIFI(PLUME)
APPNOS NET
562Q20 Earnings Presentation
DIFFERENTIATION THROUGH PRODUCT AND SERVICE INNOVATION AND TECHNOLOGICAL LEADERSHIP
B2B - PARTNERS FOR BUSINESS TRANSFORMATION, FOCUS ON CLIENT PROXIMITY Back to
Top
Institutional Presentation
3,1%
3,3%
3,6%
4,3%
4,1%
4,1%
4,8%
5,2%
5,5%
6,4%
6,5%
1Q
18
2Q
18
3Q
18
4Q
18
1Q
19
2Q
19
3Q
19
4Q
19
1Q
20
2Q
20
3Q
20
Data & IT services driving increased revenuesData & IT Revenues as % of B2B Customer Revenues
UnifiedCommunication(NOS UC)
SecurityOperationCentre (SOC)
Videoconferenceas a Service (VCaaS)
Infrastructureas a Service (IaaS)
Helping customers prepare for new ways of working
Service dematerialization
More flexible and holistic security architectures
Proliferation of cloud solutions(Anytime, anyplace, from any device)
Hybrid work models
Contactless
572Q20 Earnings Presentation
DIFFERENTIATION THROUGH PRODUCT AND SERVICE INNOVATION AND TECHNOLOGICAL LEADERSHIP
STRATEGIC PARTNERSHIPS WITH THE MAJOR HYPER-CLOUD PLATFORMS TO PROVIDE HYBRID AND MULTI-CLOUD SOLUTIONS
Back to
Top
Institutional Presentation
Internal Users
Corporate Customers
SME Customers
VirtualizationTechnologyOn-premises
Private CloudsOn-premises
PublicClouds
Partnership with the main public cloud providers
Private cloud solutions supporting thedesign of sophisticated hybrid architectures
High bandwidth, direct and secure connections to the main public cloud providers
Logical and physical security based on experienceas operator and integrated with cloud solutions
End-to-end service capable of respondingto customers needs and business criticality
NOS CLOUDManagement Platform (CMP)
582Q20 Earnings Presentation
DIFFERENTIATION THROUGH PRODUCT AND SERVICE INNOVATION AND TECHNOLOGICAL LEADERSHIP
FTTH DEPLOYMENT ONGOING AND ON TRACK TO REACH NATIONWIDE COVERAGE Back to
Top
Institutional Presentation
3,33 2,98
0,410,62
1,40
1Q17 3Q20
NGN fixed coverageMillions of homes
Traffic evolutionBefore and after lockdown
B E S T I N C L A S S N E T W O R K S PROVIDING OUTSTANDING RESILIENCE TO INCREASED TRAFFIC DEMANDS
3.95Mil l ionhomes
4.796Mil l ionhomes
38% FttHpenetration
1,811 k FttH households
+106kHH coveredin 3Q20
Fixed DataTraffic Mobile Data Traffic
Pre-COVID19 Post-COVID19 Pre-COVID19 Post-COVID19
FttH Only
HFC + FttH
HFC Only
592Q20 Earnings Presentation
DIFFERENTIATION THROUGH PRODUCT AND SERVICE INNOVATION AND TECHNOLOGICAL LEADERSHIP
POSTPONEMENT OF BLOCKBUSTER LAUNCHES AFFECTING A&C PERFORMANCE Back to
Top
Institutional Presentation
2 764
477
3Q19 3Q20
POSTPONED POSTPONED
POSTPONED POSTPONED POSTPONED
SUCCESSIVE POSTPONEMENTOF BLOCKBUSTER LAUNCHES BEHIND POOR AUDIENCE LEVELS
Cin
em
a T
icke
t S
ale
sY
oy
%M
on
thly
Tic
ket
Sa
les
Th
ou
san
ds
Au
dio
vis
ua
ls R
ev
en
ue
sM
illio
ns
of
Eu
ros
7,8
18,2
3Q19 3Q20
617 578
652
954
614 681
1 109 1 033
622828
697884
683 693
1510 0 0 51
189 237
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2019 2020
-83%
-57%
602Q20 Earnings Presentation
DIFFERENTIATION THROUGH PRODUCT AND SERVICE INNOVATION AND TECHNOLOGICAL LEADERSHIP
STRATEGIC FOCUS ON SUSTAINABILITY AND RESPONSIBLE MANAGEMENT PUBLICLY RECOGNIZED WITH VIGEO RANKING IN AUGUST
Back to
Top
Institutional Presentation
40
60+50%
RANK IN SECTOR
#10/24
#5/41
4 PERFORMANCE LEVELS
00 WEAK 30 LIMITED 50 ROBUST 60 ADVANCED
0 100
2020
2018
61
Agenda
Results Update 3Q20
Strong underlying telco performance shows business resilience through pandemic
NOS operates in one of the most competitive and technologically developed markets in Europe
Differentiation through Product and Service innovation and technological leadership
Financial recovery quarter on quarter,with solid telco performance, costefficiency and reinforced balance sheet
i
ii
iii
iv
622Q20 Earnings Presentation
FINANCIAL RECOVERY QUARTER ON QUARTER, WITH SOLID TELCO PERFORMANCE, COST EFFICIENCY AND REINFORCED BALANCE SHEET
QUARTERLY RECOVERY IN YEARLY REVENUE GROWTH, ALBEIT STILL PRESSURED BY CINEMAS Back to
Top
Institutional Presentation
15,6%
1,8%
-15,5%
-69,2%-66,9%
3Q19 4Q19 1Q20 2Q20 3Q20
TelcoYoY %
AV & CinemaYoY %
ConsolidatedYoY %
-0,1%
0,3%
-2,2%
-7,8%
-1,4%
0,3%1,0% 0,5%
-3,0%
-12,1%
-6,4%-4,9%
3Q19 4Q19 1Q20 2Q20 3Q20 3Q20*3Q19 4Q19 1Q20 2Q20 3Q20 3Q20*
* Adjusted, excluding roaming revenues.
632Q20 Earnings Presentation
FINANCIAL RECOVERY QUARTER ON QUARTER, WITH SOLID TELCO PERFORMANCE, COST EFFICIENCY AND REINFORCED BALANCE SHEET
TELCO REVENUES EXCLUDING ROAMING SHOW RESILIENCE IN CURRENT CONTEXT Back to
Top
Institutional Presentation
2.4%
-54%
Telco Revenues Excluding RoamingMillions of Euros
Impact of Roaming Revenues
Roaming RevenuesYoY 3Q20 / 19
Roaming Revenues / Telco Revenues FY19
+0.5% +1.9% -6.8% +0.3%
337.7336.6 1.2 1.3 1.4
3Q19 Consumer Business WS & Others 3Q20
642Q20 Earnings Presentation
FINANCIAL RECOVERY QUARTER ON QUARTER, WITH SOLID TELCO PERFORMANCE, COST EFFICIENCY AND REINFORCED BALANCE SHEET
OPEX SAVINGS HELPING TO REDUCE REVENUE PRESSURES Back to
Top
Institutional Presentation
EBITDAMillions of Euros
EBITDA3Q20 / 3Q19 YoY %
-7.0% TelcoConsolidated C & AV
160.6172.7 23.6
2.4 9.0
3Q19 Revenues DirectCosts
Non-DirectCosts
3Q20
-7.0%-1.0%
-67.4%
652Q20 Earnings Presentation
FINANCIAL RECOVERY QUARTER ON QUARTER, WITH SOLID TELCO PERFORMANCE, COST EFFICIENCY AND REINFORCED BALANCE SHEET
RELEVANT SAVINGS ACHIEVED IN CINEMA BUSINESS Back to
Top
Institutional Presentation
Less royalties paid and COGS (Direct Costs) due to lower level of activity
Rental contract renegotiations
Non-renewal of temporary staff contracts
Cinema Exhibition OPEX3Q19 / 3Q20, Rebased
32
100 45
58 6 2
3Q19 Film Rental COGS Rents W&S Others 3Q20
662Q20 Earnings Presentation
FINANCIAL RECOVERY QUARTER ON QUARTER, WITH SOLID TELCO PERFORMANCE, COST EFFICIENCY AND REINFORCED BALANCE SHEET
NET INCOME DECLINE ON THE BACK OF LOWER EBITDA MAINLY AT THE CINEMA & AUDIOVISUALS DIVISION AND DUE TO HIGHER D&A
Back to
Top
Institutional Presentation
Consolidated Net IncomeMillions of Euros
Cost Breakdown Below EBITDAMillions of Euros
-7.9%
Sh
are
of
JV r
esu
lts
D &
A
Oth
er
ex
pe
nse
s
Ne
t F
in.
Ex
pe
nse
s
Inc
om
eT
ax
es
3Q193Q20
47,9
5,4
-10,4
45,3 44,1
3Q19 4Q19 1Q20 2Q20 3Q20
1,0
(97,5)
(6,9) (6,8)(15,1)
0,6
(103,6)
(4,3) (5,3) (4,0)
672Q20 Earnings Presentation
FINANCIAL RECOVERY QUARTER ON QUARTER, WITH SOLID TELCO PERFORMANCE, COST EFFICIENCY AND REINFORCED BALANCE SHEET
PICK-UP IN TELCO CAPEX REFLECTING QUARTERLY FTTH ACCELERATION AND INCREASE IN COMMERCIAL ACTIVITY
Back to
Top
Institutional Presentation
Total CAPEXMillions of Euros
Telco Technical CAPEXMillions of Euros
Telco Customer CAPEXMillions of Euros
83.6 89.781.8 79.4
92.0
8.710.0
6.4 4.1
5.892.2
99.7
88.283.5
97.8
3Q19 4Q19 1Q20 2Q20 3Q20
Telco C & AV
30.6 34.229.8
39.832.4
16.918.4
18.78.2
19.2
47.5
52.648.5 48.0
51.6
3Q19 4Q19 1Q20 2Q20 3Q20
Baseline NW Exp/Subst
36.1 37.033.4
31.4
40.5
3Q19 4Q19 1Q20 2Q20 3Q20
682Q20 Earnings Presentation
FINANCIAL RECOVERY QUARTER ON QUARTER, WITH SOLID TELCO PERFORMANCE, COST EFFICIENCY AND REINFORCED BALANCE SHEET
INCREASE IN CAPEX AND DECLINE OF EBITDA IMPACTING OCF, RECEIVAL OF PAYMENT FROM TOWER DEAL
Back to
Top
Institutional Presentation
* Adjusted for the one-off impact of the NOS Towering disposal in Working Capital in 3Q20 in the amount of 20.4 million euros.
Telco EBITDA - CAPEXMillions of euros
Consolidated OCFMillions of euros
Free Cash Flow Bef. DividendsMillions of euros
73,4
32,2
60,0
73,263,5
3Q19 4Q19 1Q20 2Q20 3Q20
44,42,4
34,6 53,5
382,1
3Q19 4Q19 1Q20 2Q20 3Q20
57,9
20,4
44,4
62,4
51,2*
3Q19 4Q19 1Q20 2Q20 3Q20
20.4
30.8
692Q20 Earnings Presentation
FINANCIAL RECOVERY QUARTER ON QUARTER, WITH SOLID TELCO PERFORMANCE, COST EFFICIENCY AND REINFORCED BALANCE SHEET
BALANCE SHEET STRENGTH AND OPERATIONAL PERFORMANCE SUFFICIENT TO MEET FUTURE COMMITMENTS AND SUSTAIN ATTRACTIVE LEVEL OF SHAREHOLDER REMUNERATION
Back to
Top
Institutional Presentation
Net Financial Debt / EBITDA After Leases
1.4 x
Cash & Liquidityposition
595
Average Costof Debt
1.2 %
Net Financial Debt Net Financial Debt / EBITDAMillions of Euros, x
Average Cost of Debt%
1 089.3 1 093.6 1 062.11 009.4
771.51.9x 1.9x 1.9x 1.8x
1.4x
0.0x
0.5x
1.0x
1.5x
2.0x
2.5x
3.0x
3.5x
4.0x
175.0
275.0
375.0
475.0
575.0
675.0
775.0
875.0
975.0
1 075.0
1 175.0
3Q19 4Q19 1Q20 2Q20 3Q20
1.4%1.3%
1.1%1.3% 1.2%
3Q19 4Q19 1Q20 2Q20 3Q20
7070
Appendix
7171
Agenda
Results Update 3Q20 43
Focus on technological differentiation and market relevance 10
NOS at a Glance 3
Appendix 66
Financial Highlights 34
ESG – A core strategic driver 28
7272
(Millions of Euros) 1Q19 2Q19 3Q19 4Q19 2019 1Q20 2Q20 3Q20
Operating Revenues 355.9 365.6 370.5 366.4 1,458.4 345.4 321.3 346.9
0.4% 3.0% 1.0% 0.5% 1.2% (3.0%) (12.1%) (6.4%)
Telco 340.4 347.0 347.4 346.6 1,381.4 332.9 319.9 342.7
0.9% 2.1% (0.1%) 0.3% 0.8% (2.2%) (7.8%) (1.4%)
Consumer Revenues 244.2 244.7 248.3 253.1 990.3 244.0 236.3 248.3
Business Revenues 72.1 69.6 71.3 75.4 288.4 72.0 67.0 71.3
Wholesale and Others 24.1 32.7 27.8 18.2 102.8 16.9 16.5 23.1
Audiovisuals & Cinema Exhibition 25.8 29.1 33.6 30.3 118.8 21.8 8.9 11.1
Other (10.3) (10.5) (10.5) (10.6) (41.8) (9.3) (7.6) (6.9)
EBITDA 160.2 171.2 172.7 135.9 640.0 152.7 157.9 160.6
2.1% 2.5% 1.8% 5.5% 2.8% (4.6%) (7.8%) (7.0%)
EBITDA Margin 45.0% 46.8% 46.6% 37.1% 43.9% 44.2% 49.1% 46.3%
Telco 146.9 158.2 157.0 121.9 583.9 141.8 152.6 155.5
2.7% 2.6% 1.0% 6.3% 2.9% (3.4%) (3.5%) (1.0%)
EBITDA Margin 43.1% 45.6% 45.2% 35.2% 42.3% 42.6% 47.7% 45.4%
Cinema and Audiovisuals 13.3 13.0 15.7 14.0 56.0 10.9 5.3 5.1
EBITDA Margin 51.6% 44.8% 46.7% 46.3% 47.2% 50.1% 58.8% 46.0%
Net Income 42.5 47.7 47.9 5.4 143.5 (10.4) 45.3 44.1
CAPEX Excl. Leasing Contracts 87.3 95.2 92.2 99.7 374.4 88.2 83.5 97.8
EBITDA - CAPEX Excl. Leasing Contracts 72.9 76.1 80.4 36.2 265.6 64.5 74.3 62.8
Net Financial Debt 1,003.4 1,130.3 1,089.3 1,093.6 1,093.6 1,062.1 1,009.4 771.5
CAPEX as % of Revenues 24.5% 26.0% 24.9% 27.2% 25.7% 25.5% 26.0% 28.2%
Net Financial Debt / EBITDA After Lease Payments [x] 1.8x 2.0x 1.9x 1.9x 1.9x 1.9x 1.8x 1.4x
APPENDIXFINANCIAL HIGHLIGHTS Back to
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Institutional Presentation
7373
1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20
Homes Passed 4,449 4,495 4,571 4,613 4,640 4,690 4,796 4.9%
Total RGUs 9,509 9,538 9,614 9,687 9,708 9,761 9,886 2.8%
Pay TV 1,617 1,617 1,631 1,639 1,644 1,648 1,656 1.5%
Fixed Broadband 1,383 1,389 1,402 1,414 1,425 1,440 1,452 3.5%
Fixed Voice 1,728 1,729 1,739 1,748 1,757 1,767 1,769 1.8%
Mobile 4,750 4,769 4,809 4,851 4,847 4,870 4,972 3.4%
Convergent+Integrated Customers 896 907 915 931 942 958 968 5.8%
% of Fixed Access Customers 58.5% 59.2% 59.1% 59.8% 60.2% 61.0% 61.3% 2.2pp
Net Adds
Homes Passed 55 45 76 41 27 50 106 38.8%
Total RGUs (24) 29 76 74 21 53 125 64.3%
Pay TV (7) 0 14 7 5 4 8 (40.8%)
Fixed Broadband 3 7 13 12 10 15 12 (6.5%)
Fixed Voice (3) 1 9 10 8 10 3 (71.6%)
Mobile (18) 20 40 42 (4) 23 102 157.2%
Convergent+Integrated Customers 6 11 8 16 12 15 10 31.1%
APPENDIXOPERATIONAL HIGHLIGHTS Back to
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TE
LC
O
Institutional Presentation
7474
APPENDIXPORTUGAL FACT SHEET
Population (1) 10,295,909 -
GDP per Capita (Current Prices) (2) 19,632.45 -
GDP Growth 2019 (3) +2.2% -
GDP Growth Forecaste 2020 (2) -10.0% -
GDP Growth Forecast 2021 (2) +6.5% -
GDP Growth Forecast 2022 (2) +4.8% -
1st Homes (4) 4,148,007 -
Pay TV (4) 4,202,586 90.5%
Broadband (4) 4,114,910 98.2%
Fixed Voice (4) 4,761,383 91.9%
Mobile incl BB and Voice(4) 17,064,789 166.1%
Mobile Broadband (4) 8,082,862 78.7%
Smartphone Penetration (5) 75% -
PC Penetration (1) 71.5% -
NOS Fixed Access Homes Passed: 4,795,984
PORTUGAL
(1) Source: INE (2) Source: IMF (3) Source: Bank of Portugal (4) Source: ANACOM. Pay TV, Broadband and Fixed Voice: residential penetration (5) Source: Marktest.
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Institutional Presentation
7575
Centralizedarchitecture
HFC network starting point >1,000 homes
=
32-128 homes
Nodesplitting
100 – 1,000 homes
Capacity is managed inan efficient “need to” basis
Docsis 3.1 is the current norm
FttH
Removes active elementsfrom the network (less opex)
Is a step function deployment strategy
Fibre to the last amplifier
Evolution to Remote Phy / Mac Phy in order to move fibre deeper into the network as needed
10-100 homes
APPENDIXDEEP FIBRE: HOW WE GET THERE Back to
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Institutional Presentation
7676
Standalone Shared (with VDF)
Penetration
Market Share
CAPEX
HH Density
FttH Cost Per Home Passed
≈100-250€2014-2017
≈100€
>15%>25%4P
40%
3P
60%35 – 40 €
AVERAGE SAC
CPE
350 – 400 €
Sales commissions
Installation + Other
Peak funding reached in first 2 years – network CAPEX and SAC
3-4 years to reach target penetration
Target IRR 18%
AVERAGE ARPU AND CUSTOMER PROFILES
APPENDIXDRIVERS OF FIXED NETWORK EXPANSION DECISION Back to
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Institutional Presentation
7777
Best user experience
Significant reinforcement of capacity and coverage, in line with traffic and customer growth
Focus on 4G technology
Better data QoE in 4Gand better voice quality
Voice and Data Reinforced
Single-RAN Technology
Compact and multi-technology architecture
2G/3G/4G Equipment enabling more efficient network resource management, reduced energy consumption and operating costs
CAPEX and OPEX efficiency
2100Refarming
3G to 4G network reconversion
3G network convertedto 4G, keeping pacewith handset migration
Quick responseand less investment
3G network capacity and spectrum reconversion
Gbps ready network, IoT and 5G evolutionary
Layers of 4G capacity and new funcionalities enable evolution to Gbps IoT HW ready for NB IoT
5G evolutionary network
New offers; increased future competitiveness
NewFunctionalities
APPENDIXMOBILE: TECHNOLOGIES DEPLOYED ARE MORE EFFICIENT AND ENABLE PROGRESSIVE EVOLUTION Back to
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Institutional Presentation
7878
NOS PT Vodafone Nowo
4Q13 3Q20 4Q13 3Q20 4Q13 3Q20 4Q13 3Q20
48% 39% 42% 40% 4% 17% 7% 4%
36% 35% 50% 40% 7% 20% 6% 4%
31% 33% 56% 45% 6% 18% 5% 3%
13% 26% 46% 41% 39% 31% 0% 2%
41% 38% 46% 40% 6% 19% 7% 4%
50% 33% 25% 37% 11% 24% 14% 6%
APPENDIXNOS IS A LEADING PLAYER IN THE PORTUGUESE MARKET A MATURE, CONVERGENT MARKET
Portuguese Market
Total Market
4Q13 3Q20Service
Penetration
Pay TV Subs (mln) 3.2 4.2 101.3%
Fixed BB Subs (mln) 2.6 4.1 98.2%
Fixed Voice Accesses (mln) 4.5 5.2 91.9%
Mobile Subs (mln) 16.7 17.1 166.1%
3,4&5P Bundle Subs (mln) 2.0 3.8 90.6%
NGN Homes Passed (mln) 6.4 14.4 -
TOTAL MARKET MARKET SHARES
Source NOS estimates, Company reports and ANACOM. As from 1Q18, ANACOM have changed criteria and therefore previous periods may not be directly comparable.
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Institutional Presentation
7979
49
181 176
145
119140 147
123
2013 2014 2015 2016 2017 2018 2019 9M20
APPENDIXTELECOMS MARKET IN PORTUGAL PAY TV ANACOM DATA
Total Market Net Adds [Thousands] PT Vodafone Nowo
Source: Anacom. As from 1Q18, ANACOM have changed criteria and therefore previous periods may not be directly comparable.
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47.8% 43.9% 43.7% 43.5% 42.6% 41.2% 40.1% 39.4%
41.5% 42.1% 40.5% 38.9% 38.3% 39.2% 39.6% 39.9%
3.5%
7.6%10.5% 12.8% 14.3% 15.1% 16.3% 17.0%
7.1%
6.2% 5.1% 4.7% 4.7% 4.3% 3.9% 3.6%
2013 2014 2015 2016 2017 2018 2019 9M20
Pay TV # 2013 2014 2015 2016 2017 2018 2019 9M20
NOS 1,516 1,472 1,542 1,598 1,616 1,620 1,636 1,656
Altice 1,316 1,411 1,429 1,429 1,452 1,541 1,615 1,677
Vodafone 111 255 370 470 542 594 665 714
Nowo 225 208 180 173 178 169 159 151
Others 3 7 7 4 4 8 4 4
Total 3,171 3,352 3,528 3,673 3,792 3,932 4,079 4,203
Pay TV % 2013 2014 2015 2016 2017 2018 2019 9M20
NOS 47.8% 43.9% 43.7% 43.5% 42.6% 41.2% 40.1% 39.4%
Altice 41.5% 42.1% 40.5% 38.9% 38.3% 39.2% 39.6% 39.9%
Vodafone 3.5% 7.6% 10.5% 12.8% 14.3% 15.1% 16.3% 17.0%
Nowo 7.1% 6.2% 5.1% 4.7% 4.7% 4.3% 3.9% 3.6%
Others 0.1% 0.2% 0.2% 0.1% 0.1% 0.2% 0.1% 0.1%
Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Institutional Presentation
8080
APPENDIXTELECOMS MARKET IN PORTUGAL FIXED BROADBAND ANACOM DATA
Source: Anacom. As from 1Q18, ANACOM have changed criteria and therefore previous periods may not be directly comparable.
PT Vodafone Nowo
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174
290 284
233199 210
183147
2013 2014 2015 2016 2017 2018 2019 9M20
36.2% 34.7% 36.4% 37.4% 37.3% 36.7% 35.7% 35.2%
50.4% 48.1%44.0%
40.9% 39.5% 40.0% 40.3% 40.4%
6.7%11.3%
14.8%17.3% 18.6% 19.2% 20.0% 20.4%
6.4% 5.5% 4.4% 4.2% 4.3% 3.9% 3.7% 3.6%
2013 2014 2015 2016 2017 2018 2019 9M20
Total Market Net Adds [Thousands]
Fixed BB # 2013 2014 2015 2016 2017 2018 2019 9M20
NOS 930 992 1,144 1,262 1,333 1,389 1,416 1,448
Altice 1,294 1,375 1,383 1,381 1,412 1,514 1,599 1,662
Vodafone 172 323 465 584 665 727 794 839
Nowo 164 157 138 142 154 148 147 148
Others 8 11 13 7 11 8 12 16
Total 2,568 2,858 3,142 3,376 3,575 3,785 3,968 4,115
Fixed BB % 2013 2014 2015 2016 2017 2018 2019 9M20
NOS 36.2% 34.7% 36.4% 37.4% 37.3% 36.7% 35.7% 35.2%
Altice 50.4% 48.1% 44.0% 40.9% 39.5% 40.0% 40.3% 40.4%
Vodafone 6.7% 11.3% 14.8% 17.3% 18.6% 19.2% 20.0% 20.4%
Nowo 6.4% 5.5% 4.4% 4.2% 4.3% 3.9% 3.7% 3.6%
Others 0.3% 0.4% 0.4% 0.2% 0.3% 0.2% 0.3% 0.4%
Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Institutional Presentation
8181
Fixed Voice NA 2013 2014 2015 2016 2017 2018 2019 9M20
NOS -18 -5 128 125 39 30 -26 1
Altice -52 -77 -131 -121 -62 144 -19 20
Vodafone 76 151 140 113 74 64 63 -4
Nowo -20 -15 -10 -10 -8 -6 -10 16
Others -14 5 -32 -4 0 11 5 0
Total -28 59 96 103 44 243 14 33
-28
5996 103
44
243
1433
2013 2014 2015 2016 2017 2018 2019 9M20
APPENDIXTELECOMS MARKET IN PORTUGAL FIXED VOICE ANACOM DATA
PT Vodafone Nowo
Source: Anacom. As from 1Q18, ANACOM have changed criteria and therefore previous periods may not be directly comparable.
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31.2% 30.7% 32.8% 34.7% 35.2% 34.1% 33.5% 33.3%
56.4% 54.0%50.1%
46.5% 44.8% 45.5% 45.0% 45.1%
6.4%9.6%
12.4% 14.5% 15.9% 16.4% 17.6% 18.0%
5.0% 4.6% 4.3% 4.0% 3.8% 3.5% 3.3% 3.0%
2013 2014 2015 2016 2017 2018 2019 9M20
Total Market Net Adds [Thousands]
Fixed Voice % 2013 2014 2015 2016 2017 2018 2019 9M20
NOS 31.2% 30.7% 32.8% 34.7% 35.2% 34.1% 33.5% 33.3%
Altice 56.4% 54.0% 50.1% 46.5% 44.8% 45.5% 45.0% 45.1%
Vodafone 6.4% 9.6% 12.4% 14.5% 15.9% 16.4% 17.6% 18.0%
Nowo 5.0% 4.6% 4.3% 4.0% 3.8% 3.5% 3.3% 3.0%
Others 1.0% 1.1% 0.4% 0.3% 0.3% 0.5% 0.6% 0.6%
Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Institutional Presentation
8282
APPENDIXTELECOMS MARKET IN PORTUGAL MOBILE ANACOM DATA
PT Vodafone Others
Source: Anacom. As from 1Q18, ANACOM have changed criteria and therefore previous periods may not be directly comparable. Market Shares of Active Accesses with Usage Excl M2M and PC/Tablet/Pen/Router.
Back to
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642
1,290
521
964
638511
218
-33
2013 2014 2015 2016 2017 2018 2019 9M20
12.8%16.4%
19.7%22.4% 23.4% 24.1% 24.7% 25.5%
46.4% 45.9% 45.3% 43.7% 43.7% 42.9% 42.1% 40.9%38.8%35.7% 33.4% 31.9% 30.5% 30.5% 30.5% 30.7%
2.0% 2.0% 1.6% 2.0% 2.4% 2.5% 2.7% 2.9%
2013 2014 2015 2016 2017 2018 2019 9M20
Total Market Net Adds [Thousands]
Mobile # 2013 2014 2015 2016 2017 2018 2019 9M20
NOS 402 726 975 1,325 1,533 1,702 1,873 1,925
Altice 1,456 2,033 2,242 2,584 2,863 3,030 3,193 3,088
Vodafone 1,218 1,581 1,653 1,886 1,998 2,154 2,313 2,318
Others 63 89 79 118 157 177 205 219
Total 3,138 4,428 4,950 5,914 6,552 7,063 7,584 7,550
Mobile % 2013 2014 2015 2016 2017 2018 2019 9M20
NOS 12.8% 16.4% 19.7% 22.4% 23.4% 24.1% 24.7% 25.5%
Altice 46.4% 45.9% 45.3% 43.7% 43.7% 42.9% 42.1% 40.9%
Vodafone 38.8% 35.7% 33.4% 31.9% 30.5% 30.5% 30.5% 30.7%
Others 2.0% 2.0% 1.6% 2.0% 2.4% 2.5% 2.7% 2.9%
Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Institutional Presentation
8383
5,7395,349
5,136
4,417 4,374 4,3484,139 4,126
50
1,050
2,050
3,050
4,050
5,050
6,050
2012 2013 2014 2015 2016 2017 2018 2019
APPENDIXTELECOMS MARKET IN PORTUGAL TELCO MARKET REVENUES EVOLUTION Back to
Top
Total Portuguese Telecom Market Revenues [€millions]
Source: Anacom. Retail revenues only published by ANACOM as from 2015.
Institutional Presentation
3,650 3,638 3,603 3,451 3,464
50
1,050
2,050
3,050
4,050
5,050
6,050
2015 2016 2017 2018 2019
Retail Portuguese Telecom Market Revenues [€millions]
8484
Revenues # 2015 2016 2017 2018 2019
NOS 1,062 1,102 1,135 1,132 1,140
Altice 1,588 1,524 1,434 1,356 1,347
Vodafone 865 899 933 863 890
Nowo 95 80 68 72 62
Others 40 33 32 28 24
Total 3,650 3,638 3,603 3,451 3,464
APPENDIXTELECOMS MARKET IN PORTUGAL RETAIL REVENUES ANACOM DATA
PT Vodafone Nowo
Back to
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Source: Anacom. As from 1Q18, ANACOM have changed criteria and therefore previous periods may not be directly comparable.
29.1% 30.3% 31.5% 32.8% 32.9%
43.5% 41.9% 39.8% 39.3% 38.9%
23.7% 24.7% 25.9% 25.0% 25.7%
2.6% 2.2% 1.9% 2.1% 1.8%
2015 2016 2017 2018 2019
Revenues % 2015 2016 2017 2018 2019
NOS 29.1% 30.3% 31.5% 32.8% 32.9%
Altice 43.5% 41.9% 39.8% 39.3% 38.9%
Vodafone 23.7% 24.7% 25.9% 25.0% 25.7%
Nowo 2.6% 2.2% 1.9% 2.1% 1.8%
Others 1.1% 0.9% 0.9% 0.8% 0.7%
Total 100.0% 100.0% 100.0% 100.0% 100.0%
Revenues yoy 2016 2017 2018 2019
NOS 3.8% 3.0% -0.3% 0.7%
Altice -4.0% -5.9% -5.4% -0.7%
Vodafone 3.9% 3.9% -7.6% 3.2%
Nowo -15.7% -14.5% 5.9% -14.0%
Others -18.5% -1.0% -14.9% -12.2%
Total -0.3% -1.0% -4.2% 0.4%
Institutional Presentation
8585
Shareholders (Last Update: 24 August 2020)
Nr ofShares
% ShareCapital
ZOPT, SGPS, SA *1 268,644,537 52.15%
Sonae, SGPS, S. A.*2 38,000,000 7.38%
MFS Investment Management 11,049,477 2.14%
Norges Bank 10,891,068 2.24%
Others 186,576,298 38.23%
TOTAL 515,161,380 100.00%
APPENDIXNOS SHAREHOLDER STRUCTURE
9,6%
5,4%
4,2%
2,7%
1,1%
0,9%
0,8%0,8%
0,7% 0,3%0,1%
0,7%0,9%
US UK SpainNorway Portugal FranceSweden Belgium GermanySwitzerland Luxembourg Rest of EuropeRest of World
INSTITUTIONAL SHAREHOLDERS BY GEOGRAPHY
DECEMBER 2020
(NASDAQ SHAREHOLDER ID, % OF SHARE CAPITAL)
FREE FLOATZOPT SGPS, SA
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*1 Sonae announced an agreement for the dissolution of ZOPT on 19 August 2020*2 As per announcement made to the CMVM on 19 August 2020.
Institutional Presentation
SONAE
8686
Chairman Ângelo Paupério
Chief Executive Officer Miguel Almeida
Vice-President - CFO José Pedro Pereira da Costa
Executive Board Member Daniel Beato
Executive Board Member Filipa Carvalho
Executive Board Member Jorge Graça
Executive Board Member Luís Nascimento
Executive Board Member Manuel Ramalho Eanes
Non-Executive Board MemberAna Rita Ferreira Rodrigues Cernadas
Non-Executive Board Member António Domingues
Non-Executive Board Member António Lobo Xavier
Non-Executive Board Member Catarina Tavira Van-Dúnem
Non-Executive Board Member Cristina Maria de Jesus Marques
Non-Executive Board Member João Torres Dolores
Non-Executive Board Member Joaquim Oliveira
Non-Executive Board Member José Carvalho de Freitas
Non-Executive Board Member Maria Cláudia Azevedo
APPENDIXNOS GOVERNANCE MODEL
General Meeting
Remuneration Committee
Statutory Auditor
Company Secretary
Ethics Committee
Board of Directors Fiscal Board
Executive Commitee
Audit and Finance Commission
Corporate Governance Commission
Appointment and Evaluation Commitee
MEMBERS
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Institutional Presentation
8787
APPENDIXSEASONED MANAGEMENT TEAM WITH A LONG-STANDING EXPERIENCE IN TELECOMS
20 years experience in the Telecom market
MBA in Insead
Miguel Almeida
CEO
Executive members of the Board
20 years experience in the Telecom market
MBA in Insead
José Pedro Pereira da Costa
Vice-President – CFO
14 years experience in the Telecom market
MBA in IESE Business School
Daniel Beato
Executive board member
17 years experience in the Telecom market
MBA in Insead
Luís Nascimento
Executive board member
22 years experience in the Telecom market
MBA in Insead
Manuel Ramalho Eanes
Executive board member
16 years experience in the Telecom market
MBA in Kellog
Jorge Graça
Executive board member
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Institutional Presentation
17 years experience in the Telecom market
MBA in UniversidadeCatólica Portuguesa
Executive board member
Filipa Carvalho
8888
NOS 3
Sem Limites Max
NOS 3
NOS 4
APPENDIXSEGMENTED CONVERGENT BUNDLES
200MbpsNOS Wi-Fi included
+ additionalSIM card, doubles
the data allowance
1 SIM cardFree calls and SMS
EU Roaming 3k minutes 2GB of BB per card, shareable
[+2€ = 3GB; +5 € = 5GB; +9€ = 10 GB]
UnlimitedNational and 50
internationaldestinations
UMA180 channels
NOS Studios
1000h recording
120 channels30MbpsNOS Wi-Fi included
3000 minutes national
destinations; 1000 minutes internationaldestinations
TV BB Fixed Voice Mobile Monthly Fee
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200MbpsNOS Wi-Fi included
UnlimitedNational and 50
internationaldestinations
1 SIM card Max SpeedUnlimited calls and SMS
EU Roaming+SIM card, doubles
the data allowance
UMA180 channels
NOS Studios
1000h recording
200MbpsNOS Wi-Fi included
UnlimitedNational and 50
internationaldestinations
150 channelsHD Box
1000h recording
Institutional Presentation
8989
Mobile
Fixed
Mobile + Fixed
Fixed
Mobile + Fixed
APPENDIXWOO TARIFF PLANS
100Mbps
100MbpsNOS Wi-Fi included
TV BB Fixed Voice Mobile Monthly Fee
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1 SIM card1000 minutes / SMS
10 GB data
Institutional Presentation
1 SIM card1000 minutes / SMS
10 GB data
1 Gbps
1 Gbps
1 SIM card1000 minutes / SMS
10 GB data
9090
NOS, SGPS, S.A.
Rua Ator António Silva, 91600-404 Lisboa, Portugal
APPENDIXCONTACTS
José Pedro Pereira da Costa - CFO
INVESTOR RELATIONS AND SUSTAINABILITY TEAM
Maria João Carrapato
Henrique Rosado
Clara Teixeira
Ph.: +351 21 782 47 25
Fax: +351 21 782 47 35
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Carla Sampaio [email protected]
Institutional Presentation
9191
3Q20