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Agenda NOS at a Glance 3 Executing on Strategy 10 Financial Highlights 28 Results Update 1Q20 38 Appendix 63 2 2
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Agenda NOS at a Glance 3 Executing on Strategy 10 Financial Highlights 28 Results Update 1Q20 38 Appendix 63 4 4
Institutional Presentation Back to Top Launch of Optimus 27 August Next generation network expansion FttH Network sharing agreement The 3rd Mobile Merger between signed with Vodafone operator in the ZON and market Optimus Spin-off of ZON, the 14 May Premium sport Content Sharing Letter of Intent signed with largest Pay TV player Rebranding to Agreement signed with PT, Vodafone and Vodafone to negotiate mobile in Portugal, Nowo network sharing agreement (previously PT Multimedia) from Portugal Telecom Reduction stake in Sport TV to 25% Disposal of NOS Towering to Group Cellnex Disposal of NOS International Carrier Services 5 5
Institutional Presentation Back to Top NOS Group € M Revenues NOS €1,381 M Comunicações € M EBITDA € 1,458M €584 M (100%) € 640 M NOS NOS €67 M €69 M Audiovisuais Cinemas €33 M €23 M (100%) (100%) Dreamia ZAP Sport TV €176 M €188 M €176 M (equity consolidation) (equity consolidation) (equity consolidation) (50%) (30%) (25%) 6 6
Institutional Presentation Back to Top Pay TV, Total Market 4.1M subs Fixed BB, Total Market 4.0M subs [% Subs, Anacom Data 1Q20] Multiple Play Bundles, Total Market 3.7 Subs [% Subs, 1Q20] [% Subs, Anacom Data 1Q20] Vodafone Vodafone Vodafone Nowo Nowo Nowo 98% 96% 89% Altice Altice Altice NOS NOS NOS Fixed Voice, Total Market 5.1M accesses [% Subs, Anacom Data 1Q20] Mobile, Total Market 17.3M subs [% Subs, Anacom Data 1Q20] Retail Revenues [YtD; FY19] Vodafone Vodafone Vodafone Nowo 3,464 90% 168% Nowo M€ Altice Altice Altice Others NOS NOS NOS 7 7 Source: ANACOM. Pay TV, Fixed Broadband and Fixed Voice: residential penetration
Institutional Presentation Back to Top NOS, Convergent + Integrated Penetration Service Penetration Total Market Retail Revenues, YoY Change [Millions of Euros; % ] [%] [%] Portugal European Avarage Source: Market Regulators. European average includes Sweden, Spain, UK, France and Germany. 8 8
Institutional Presentation Back to Top Homes Passed by Operator and Techonology FttH Availability Capex as % of Revenues [%, 2019] [ % ] Sources: Market Regulators; Operator Reports; FttH Council Europe. 9 9
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Agenda NOS at a Glance 3 Executing on Strategy 10 Financial Highlights 28 Results Update 1Q20 38 Appendix 63 11 11
Institutional Presentation Back to Top NOS has a …which will be …supported by benchmark …that will enable complemented and operational efficiency that us to leveraged to will of drive margin growth and assets and skills… within a strategy focused while on domestic market maintaining a strong share growth… balance sheet… 12 12
Institutional Presentation Back to Top Telco Revenue Market Share 33% 33% 31% 30% 29% 26% 26% 25% 2018 Target Note: Retail Revenue Market Shares reported by ANACOM used as from 2015. 13 13
Institutional Presentation Back to Top Residential Fixed Access ARPU, Fixed Access Convergent Penetration [Euros, %] Relative Performance of Pay TV, Fixed BB, Fixed Voice and Mobile RGUs [Rebased, 1=1Q14] 70 . 0 % 45 . 0 60 . 0 % 40 . 0 50 . 0 % 40 . 0 % 35 . 0 30 . 0 % 30 . 0 20 . 0 % 25 . 0 10 . 0 % 20 . 0 0. 0% Note: Converged + Integrated Fixed Access Subscriber penetration used from 1Q18. 14 14
Institutional Presentation Back to Top A History of Innovation 2013 2014 2015 2016 2017 2018 2019 2020 2011 New UMA v2 generation UMA 7 Day RDK Youtube hybrid of internet New nPVR NOS Play IRIS Restart STB 4K Leanback equipments set-top box Interface 15 15
Institutional Presentation Back to Top UMA NOS TV Hybrid Set-Top Box Internet equipments 16 16
Institutional Presentation Back to Top Customer centric value propositions Personalized customer-base management Explore segments and channel opportunities Take advantage of technological disruptions 17
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Institutional Presentation Back to Top Central Pro Wi-Fi Pro IT Solutions Virtual solution Provides tailor made IaaS and Data centre for professional professional WiFi solutions services, Managed management calls for SMEs Services Security and IT Governance Better segmentation with greater use of analytics and targeted sales channels Transformation of operating and service model and focus on customer service and satisfaction Offer simplification and focus on segment relevant innovation with more IT based solutions 21 21
Institutional Presentation Back to Top Full duplex (N+0) Distributed architecture DOCSIS 3.1 Mbps 10 GPON Footprint + Evolve HFC Grow FttH 22 22
Institutional Presentation Back to Top CAPEX Per Home FttH Network (NOS, DST and VDF) FttH Swap: HP delivered to date (cumulative) 2.6 million FttH households to be swapped with (Euro) Vodafone until 2022 (1.2 million NOS, 1.4 million Vodafone) 250 200 -60 % 150 100 50 0 2015 2016 2017 2018 2019 Cost per Home (FttH – NOS) VDF to NOS NOS to VDF Cost per Home (FttH – Total) 23 23
Institutional Presentation Back to Top % NOS Homes Passed with FttH NOS FttH Evolution (NOS, DST and VDF) [Million Homes] HFC F TT H (NOS) Note: FttH includes DST and Vodafone 24 24
Institutional Presentation Back to Top 4 February 2020 14 April 2020 • • • • • • • ≈ • • ≈ ≈ 25 25
Institutional Presentation Back to Top +200% 4G capacity Improve 3G Increased 4G capacity and and 4G data QoE coverage in 92.5% (indoor coverage) and 99% (outdoor + data coverage coverage) of the network (99% of population Option to gradually refarm 2100Mhz covered) (+4G capacity and 3G network renewal) Enable new Future Proof 4G network 4G offers over 150/50M Complete modernization of 3G network Global network optimization + voice coverage + Voice Capacity / EDGE data Improvement + 2G capacity (TRX): 25% of voice 15% of sites with reinforced coverage call quality Global network optimization plan Decrease in dropped calls 26 26
Institutional Presentation Back to Top User Throughput Voice Quality Drop Call 24% 23% 100% Before After Before After Before After “E xcellent ” retention rate implemented 27 27
Institutional Presentation Back to Top TRANSFORMATION PROGRAMME STRATEGIC AMBITION Revolutionize Customer 1. Service Failure Customer Next Gen Customer Centricity focusing on Avoidance and Mgmt Lighthouse Marketing & Sales Service 4.0 quality and experience Offer Segment Relationship 2. Lifecycle Management Simplification of One Build a Fitter Operating Model E2E Process New Smart Network and Operations Integrity Service Models CORE OBJECTIVES Zero Simplify Waste & Automate Achieve NPS leadership Digital Data Management & Adv. Analytics Boost digital weight on RPA & AI total client interactions New Ways of Working Capture recurring cash savings Offer and Business Model Customer Centric Processes Fitness Enablers Customer Experience 28
Institutional Presentation Back to Top Focus on vision Main focus on Main focus on Main focus on and ambition initiative design implementation monitoring and 100 set-up and planning and capture of quick wins boosting impacts 80 All initiatives in monitoring mode 60 Launch of 3 rd 2 nd wave initiatives wave initiatives into execution 40 Launch of 2 nd wave mode initiatives 1 st wave initiatives 1st wave initiatives into monitoring mode into execution 20 mode Launch of 1 st wave initiatives 0 FY17 FY18 FY19 FY20 FY21 FY22 29 29
Institutional Presentation Back to Top 1 2 3 30 30
Institutional Presentation Back to Top 1 2 3 4 wbcsd 31 31
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Agenda NOS at a Glance 3 Executing on Strategy 10 Financial Highlights 28 Results Update 1Q20 38 Appendix 63 34 34
Institutional Presentation Back to Top Consolidated Revenues Telco Revenues (YoY, %) (YoY, %) Audiovisuals Revenues Cinema Exhibition Revenues (YoY, %) (YoY, %) 35 35 Note: Growth rates as reported in each period.
Institutional Presentation Back to Top Fixed Growth Mobile Growth NOS Network OPEX [2014-2019] [2014-2019] [M €] 36 36
Institutional Presentation Back to Top Total OPEX [M €] Direct Costs [M €] Non-Direct Costs [M €] Commercial Costs Other Customer Related Support + Maintenance W&S Supplies & External Services 37 37
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