1. BrandZ top 100 most valuable global brands 2010 - summary April 28 th 2010 11 May 2009

2. 2 a brand is one of the most valuable assets a company has this presentation is a summary of the Millward Brown BrandZ top 100 most valuable global brands 2010 a brand valuation is a measure of the financial value that is attached to the brand there are a number of different methods to derive a brand valuation. Other studies include: –Interbrand Best Global Brands –Intangible Business – the worlds most valuable mobile brands

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4. 4 Google is still the most valuable global brand - valued at more than $114 billion the majority of brands that dropped out of the Top 100 were from the categories hardest hit by the economic crisis (financial institutions, insurance and cars) brands that have entered the top 100 for the first time include oil brands and emerging market brands (13 brands in top 100) 2 mobile operators feature in the top 10 - China Mobile at no.8 and Vodafone at no.10 the share price of the Top 100 out- performed the S&P 500 by over 30%

5. 5 Orange is ranked 50th overall with a brand value of $14,018 million the Orange brand valuation takes into account the mobile activities of Orange and does not include activities such as TV, fixed line Orange is ahead of global brands such as American Express, Fedex, Gucci, Pepsi and Mercedes Orange is ranked 8 th in value in the Continental Europe brands ranking 1 mobile operator is a new entrant to the top 100. Telcel of Mexico at number 9 in the mobile sector and 69 overall

6. 6 China Mobile is no. 1 in the Mobile Operators category overall, the mobile operator sectors brand valuation dropped by 1% the dramatic increase in data transmission helped mobile operators weather the recession category growth particularly strong in emerging markets Verizon and O2 have seen the biggest increase in brand value –China Mobiles brand value softened although it remained the worlds most valuable mobile brand with more than 500 million subscribers –Vodafones declined in value but remained the most global operator with about 427 million subscribers – O2 grew by 23% due to growth in data through iphone exclusivity deal –AT&Ts brand value improved by 18% benefiting from exclusivity with iPhone in USA and a strong financial performance in mobile iPhone has helped boost both brand value and revenues for mobile operators which offer the handset with exclusivity having a marked impact on valuation in all markets the arrival of apps for mobiles has had a dramatic impact on revenue streams

7. 7 Orange is no.5 in the Mobile Operators category the Orange brand is stabilising – after a big increase of 42% in 2008, a drop in value of -6% in 2009 –the brand intangible earnings have increased, driven by a growth in brand earnings –brand contribution has remained the same –brand multiple has remained the same in 2010 the Orange brand has moved from 6 th place to 5 th place in the Mobile Operators category overall, the Orange brand is growing in strength. It has entered the Top 50 brands for the first time and grown in value when other Mobile operators have suffered. It is adding considerable value to the business

8. 8 the BrandZ study is conducted annually by Millward Brown BrandZ Brand Value = X X % Step 1: Intangible Earnings Step 2: Brand Contribution Step 3: Brand Multiple Brand earnings multiple Calculated based on market valuations, brand growth potential and Voltage as measured by BrandDynamics M Intangible corporate earnings allocated to each brand by country, based on company and analyst reports, industry studies, revenue estimates, etc. Portion of intangible earnings attributable to brand Directly driven by BrandDynamics Loyalty Pyramid and Category Segmentation collected within the BrandZ study. Corporate Earnings $ $ $ Branded Earnings Branded Intangible Earnings BrandZ Data Sources: the BrandZ brand value is based on the intrinsic value of the brand – its ability to generate demand. It is the total of all future earnings that the brand is forecast to generate, based at todays value.

9. 9 for more information for more details on BrandZ, visit the website http://www.brandz.com/output/ http://www.brandz.com/output/ the full report can be accessed on the Millward Brown website http://www.millwardbrown.com/Sites/Optimor/Media/Pdfs/en/ BrandZ/BrandZ-2009-Report.pdf http://www.millwardbrown.com/Sites/Optimor/Media/Pdfs/en/ BrandZ/BrandZ-2009-Report.pdf

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