Remuneration policy

In accordance with Belgian law, Proximus SA under public law, a Belgian listed company, publishes the general principles governing its remuneration policy applicable to the members of its Board of Directors and its Leadership Squad.

This policy is shaped by the evolving legal framework, the Belgian Corporate Governance Code 2020 (“the 2020 Corporate Governance Code”), prevailing market practices and trends, and the strategic orientation of Proximus. It reflects our ambition to contribute to an inclusive, secure, sustainable and prosperous digital Belgium.

Proximus attaches great importance to providing clear, relevant and transparent information on the principles governing its remuneration policy and on the remuneration allocated to the Board of Directors and the Leadership Squad.

We undertake to remunerate the members of the Board of Directors and of the Leadership Squad only in accordance with the remuneration policy as described in this document. Should the General Meeting not approve the remuneration policy, we shall continue to pay remuneration in accordance with our existing practices and the Board of Directors shall submit a revised policy for approval at the following General Meeting.

For the avoidance of doubt, to the extent the remuneration policy derogates from (article 7:121 juncto article 7:91) the Belgian Code of Companies and Associations, the approval of the Remuneration Policy by the General Meeting of Shareholders shall be considered an explicit approval of such derogations.

This Remuneration Policy provides a transparent overview of:

• the remuneration structure and levels applicable to the Board of Directors and the Leadership Squad,
• the alignment between remuneration, company performance and sustainability objectives,
• the governance provisions relating to remuneration.

Through this Policy, Proximus reaffirms its commitment to responsible, fair and future-oriented remuneration practices that support the sustainable performance and long-term success of the Group, while remaining aligned with the expectations of our shareholders, our employees and the society we serve.

We firmly believe that remuneration should foster not only high levels of performance but also the well-being, development and empowerment of our employees. We want all members of our organization to feel valued, respected and recognized for their contribution to our shared success.