MAROC_TELECOM_REGISTRATION_DOCUMENT_2017

FINANCIAL REPORT

Statutory financial statements

2.9.

Agreement with Casanet for current- account advance/ shareholder loan

– Main terms: Since 2003, Itissalat Al Maghrib has concluded several service agreements with its subsidiary Casanet. – Products or services delivered or provided: The main services provided by Casanet to IAM are: — Maintenance of IAM’s Menara Internet portal. — Installation of a solution for transport of IAM services to the Ethernet base access network. — Implementation of marketing campaign management solution. — Providing CPW routers, technical assistance and training. — Providing and management of information service by SMS for IAM clients. — Acquisition of various types of equipment. — Transmission of SMS for IAM. — Providing of digital acquisition of the Marnis network. — Acquisition of licenses for the content management solution for hosting offers. — Etc. At Decemberb31, 2017, the expense booked by IAM under these agreements amounts to 64.2bmillion dirhams (excluding taxes and including penalties for late payment for 15bthousand dirhams tax included). Payables totalized 67bmillion dirhams at Decemberb31, 2017. – Amounts paid: IAM paid 71 million dirhams in 2017. – Shareholder loan: The balance on the loan granted to Casanet: 10.2bmillion dirhams. – Amounts received: No amount was collected by IAM for the financial year 2017. — Remake of the IAM Intranet backbone network. — Extension of the Marnis backup access test solution.

– Parties concerned: — IAM is the major shareholder of Casanet. — Mr. Hassan RACHAD is member of IAM and Casanet Management Boards. – Agreement form: Written agreement. – Nature and purpose of the agreement: Advance by IAM to Casanet on non-interest-bearing account. – Main terms: At its meeting held on Decemberb4, 2007, the Supervisory Board authorized IAM to underwrite all necessary capital expenditures through the provision of non-interest-bearing current-account advances for 6.1bmillion dirhams. Several current-account advances have been granted to Casanet between 2008 and 2012. At December 31, 2017, the current-account balance totalized 6.1bmillion dirhams. – Products or services delivered or provided: Advance on non- interest-bearing current account. – Amounts received or paid: None. 2.10. Service agreement with Casanet – Parties concerned: — IAM is the major shareholder of Casanet. — Mr. Hassan RACHAD is member of IAM and Casanet Management Boards. – Agreement form: Written agreement. – Nature and purpose of the agreement: Maintaining services, web hosting, technical assistance, and equipment.

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Casablanca, Februaryb16 th 2018 The Statutory auditors

DELOITTE AUDIT

ABDELAZIZ ALMECHATT Abdelaziz AL MECHATT

Sakina BENSOUDA-KORACHI

Partner

Partner

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MAROC TELECOM ____ 2017 Registration Document