MAROC_TELECOM_REGISTRATION_DOCUMENT_2017

4

FINANCIAL REPORT Statutory financial statements

LIST OF CONTENTS TO THE NOTES TO THE FINANCIAL STATEMENTS Pursuant to regulation (EC) no.b1606/2002 of the European Parliament of 19bJulyb2002,Maroc TelecomGroup’s consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IAS/IFRS), as endorsed by the European Union. 4.4 _ Statutory financial statements

STATUTORY AUDITORS’ GENERAL REPORT YEARS ENDED DECEMBER 31, 2017

167 168 169 170 171 172 173 175 175 175 176 178 179 180 180 181 182 183 184 186 187 187 188 189 189 190 190

ASSETS

SHAREHOLDERS’EQUITY AND LIABILITIES

STATEMENT OF COMPREHENSIVE INCOME (EXCLUSIVE OF VAT)

STATEMENT OF OPERATING DATA STATEMENT OF CASH FLOWS

A1 A2 A3 B1 B2

MAIN VALUATION METHODS USED BY THE COMPANY

EXCEPTIONS

CHANGES IN METHOD CAPITALIZED COSTS NON FINANCIAL ASSETS

B2 BIS B3

GAINS AND LOSSES FROM DISPOSALS AND RETIREMENT OF FIXED-LINED ASSETS 177

B4 B5 B6 B7 B8 B9

EQUITY INVESTMENTS

PROVISIONS RECEIVABLES LIABILITIES

GUARANTEES GIVEN OR RECEIVED

FINANCIAL COMMITMENTS GIVEN OR RECEIVED, EXCLUDING LEASING TRANSACTIONS

B10 B11 B12 B13 B14

FINANCE-LEASE ASSETS

ANALYSIS OF STATEMENT OF COMPREHENSIVE INCOME (ITEMS) RECONCILIATION OF NET INCOME TO TAXABLE INCOME

DETERMINATION OF ORDINARY INCOME AFTER TAX

ANALYSIS OF VAT

C1 C2 C3 C4 C5

SHAREHOLDER STRUCTURE

APPROPRIATION OF YEAR-END INCOME

INCOME AND OTHER SIGNIFICANT ITEMS OVER THE PAST THEE YEARS TRANSACTIONS IN FOREIGN CURRENCIES DURING THE YEAR DATE OF FINANCIAL STATEMENTS AND SUBSEQUENT EVENTS

166

MAROC TELECOM ____ 2017 Registration Document