Core Points - The signing of a Pledge Agreement and a Letter of Consent and Release with Enodia is part of the demerger process of VOO, which involves the acquisition of VOO SA by Orange Belgium SA/NV [1][3] - The Pledge Agreement will secure amounts owed by VOO to Enodia under a Service Agreement, with a maximum amount of EUR 250,000,000 [2][6] - The Demerger is contingent upon the termination and replacement of the existing Mandate with the Pledge Agreement [5] Group 1: Pledge Agreement and Service Agreement - VOO has authorized Enodia to create a first-rank pledge over its business as security for amounts owed under the Service Agreement [2] - The Pledge Agreement will cover trade receivables and bank accounts of the Company for the benefit of Enodia [3][4] - The Pledge Agreement will last for the same duration as the Service Agreement and may be readjusted every five years based on the diminishing amount owed [6] Group 2: Corporate Governance and Compliance - Enodia is considered a "related party" to the Company, necessitating compliance with Article 7:97 of the Belgian Code of Companies and Associations [7] - An ad hoc committee of independent directors was established to assess the signing of the Pledge Agreement and the Letter of Consent and Release [9] - The board of directors approved the signing based on the committee's conclusion that the transaction is not unfair to the Company [10] Group 3: Financial Overview of Orange Belgium - As of June 30, 2025, Orange Belgium reported revenues of EUR 962.7 million, with 3.5 million mobile customers and over 1 million fixed broadband customers [12] - Orange Belgium operates both fixed and mobile networks, providing a range of connectivity services and convergent offerings [12] - The Company is a subsidiary of the Orange Group, which serves 300 million customers worldwide [13]

Group 1 - Magnum CEO Peter ter Kulve emphasized that the company is not considering selling Ben & Jerry's and is focused on reclaiming market share and growing sales as it prepares for its spin-off from Unilever [1][3] - Unilever's ice cream business, which includes brands like Magnum, Ben & Jerry's, Wall's, and Cornetto, is expected to hold over 20% of the approximately $88 billion global ice cream market, competing with rivals such as Nestle-backed Froneri [1] - The separation from Unilever has allowed Magnum to invest in supply chains, sales, and distribution, leading to a significant increase in market share last year [2] Group 2 - Unilever's CEO Fernando Fernandez is implementing changes to streamline management and enhance margins, with the company retaining less than 20% of the ice cream business post-listing [4] - The demerger will provide every Unilever shareholder with a relative stake in Magnum, which is expected to mitigate market volatility typically associated with an IPO [5] - Magnum's CFO Abhijit Bhattacharya stated that the split is beneficial for both Unilever and Magnum, allowing Unilever to focus its portfolio while giving Magnum the opportunity to improve margins [4][5]