27.3. Equity-settled share-based payment plan

Orange S.A. operates a long term incentive plan (“LTIP”), under which key managers of the Orange Polska Group were awarded a defined number of free shares of Orange S.A., subject to performance conditions and continuous service in the Orange Group. The fair value of services rendered by managers for granting equity instruments of Orange S.A. recognised in labour expense in 2020 and 2019 amounted to PLN 3 million. More information on LTIP can be found in the Remuneration Report contained in Section 9.3 of the Management Board’s Report on the Activity of the Orange Polska Group and Orange Polska S.A. for the year ended 31 December 2020.