PUBLIC CBCR FY2023

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This is Colt Group's public Country-by-Country (PCBC) report for the fiscal year ended 31 December 2023 (FY23) in response to the PCBCR compliance requirement in Romania which applies to fiscal years commencing on or after 1 January 2023.

The information is presented below in the English language for ease of reference, with machine readable formats in both the English and Romanian languages accessible for download from the enclosed links above.

1. GENERAL INFORMATION

Name of the ultimate parent of the group / of the standalone undertaking
Country where the ultimate parent has its registered office
Financial year - start date
Financial year - end date
Reporting currency
Is the information in the report based on reporting instructions used for tax purposes, persuant to Section III, Parts B & C, of Annex III to Directive 2011/16/EU (yes/no)

2. OVERVIEW OF INFORMATION ON A COUNTRY-BY-COUNTRY BASIS

Tax jurisdiction	Country Code	Revenues	Profit (loss) before income tax	Income tax paid (on cash basis)	Income tax accrued (current year)	Accumulated earnings	Number of employees
Austria	AT	35,833,618	(12,258,059)	(18,694)	3,788	(165,200,383)	38
Belgium	BE	91,611,141	226,981,288	135,685	-	179,964,887	77
Bulgaria	BG	1,409,300	41,421	-	46,551	(1,653,141)	0
Croatia	HR	374,795	28,027	-	13,249	(152,735)	-
Czech Republic	CZ	1,905,740	14,171	1,998	73,710	(6,958,969)	-
Denmark	DK	14,434,127	(1,537,011)	-	-	(73,277,359)	16
Estonia	EE	12,116	(182)	-	-	(115,495)	-
Finland	FI	1,812,221	(6,060)	2,116	64	(1,677,416)	0
France	FR	331,733,101	(43,424,136)	1,217,772	2,351,202	(181,451,501)	339
Germany	DE	487,094,657	(53,723,472)	712,689	-	(960,993,909)	523
Greece	GR	71,292	17,545	5,712	-	(22,933)	2
Hungary	HU	790,858	(309,682)	168	14,897	(263,737)	-
Iceland	IS	850	(3,031)	(5)	-	(65,329)	-
Ireland	IE	40,159,124	(13,691,338)	-	-	(218,863,495)	28
Italy	IT	133,036,020	7,270,479	2,524,610	(9,339,141)	(153,869,214)	137
Luxembourg	LU	111,864,063	(999,816,790)	450	-	(1,253,568,873)	2
Netherlands	NL	114,432,375	(10,393,410)	424,293	255,589	(1,863,400,120)	133
Norway	NO	1,666,174	(233,038)	-	6	(2,433,483)	-
Poland	PL	4,753,542	1,558,514	-	6,548	722,044	199
Portugal	PT	27,493,735	3,503,574	323,611	414,667	(4,035,418)	125
Romania	RO	10,910,133	1,731,430	50,326	417,722	6,091,026	200
Slovakia	SK	407,576	5,617	-	20,920	(193,711)	-
Slovenia	SI	90,197	(5,707)	1,841	-	(378,405)	-
Spain	ES	159,561,794	653,892	(628,199)	551,547	(22,037,000)	623
Sweden	SE	19,805,754	(3,421,589)	11,303	-	(129,165,782)	25
All other tax jurisdictions (aggregated basis)	n/a	4,182,773,865	905,124,995	39,082,236	19,584,252	8,042,617,745	4,450

NOTES

1

SHM LIGHTNING INVESTORS LLC AS UPU / PRESENTATION CURRENCY

SHM Lightning Investors LLC, the Ultimate Parent Entity (UPE) for non-public CBCR purposes for the year ended 31 December 2023 (FY23) has been considered to be the Ultimate Parent Undertaking (UPU) for the purposes of this Public CbC report for the same year. Accordingly, SHM Lightning Investors LLC's functional currency, which is USD, has been used for presentation purposes in the current report. The exchange rate used in translating data from the Colt Group Holdings Ltd consolidated accounts (which are prepared in Euros) to USD was 0.924 EUR/USD. This rate is the yearly average of exchange rates from USD to other relevant currencies, as provided by the IRS.

2

REPORTING OF TAX REFUNDS

All tax refunds have been reported in Income Tax Paid and not within Revenue.

3

ACQUISITIONS AND NEW ENTITIES IN FY23

Colt entered an exclusive arrangement to acquire Lumen Technologies ('Lumen') Europe, Middle East and Africa (EMEA) business and assets. This transaction ended at the start of November 2023. Further, with the legal separation of the Data Centre Services (DCS) business in FY23, new DCS entities have been added to the Colt Group. These new entities have therefore been included in this report. For newly acquired Lumen entities, we have included their data on a pro-rata basis from the date of acquisition.

4

NUMBER OF EMPLOYEES CALCULATION

The number of employees is based on the average number of employees during the financial year. We have considered Full-Time Employees ("FTE") and Part-Time Employees. FTE includes employees on long-term leave (such as maternity leave, etc). Further, any employee on part-time employment has been reasonably rounded up to 1. The average FTE for the financial year was obtained from headcount figures as at the end of every month, after which a simple average was calculated over the 12 months of the financial year. Where a constituent entity (CE) was a member of the Colt Group for part of the year (such as due to the Lumen EMEA acquisition or the carve-out of the DCS business in the second half of FY23), the average number of employees was computed only for the months where the CE in question was a member of the Colt Group.

5

INTERPRETATION OF "OTHER" IN ACTIVITIES

In Section 3 where the brief description of the nature of activities in the Member State or tax jurisdiction is noted as 'Other', 'Other' refers to Telecom Services.

3. LIST OF SUBSIDIARIES AND ACTIVITIES

Member State or tax jurisdiction	Country Code	Name of each subsidiary undertaking in the Member State or tax jurisdiction	Brief description of the nature of activities in the Member State or tax jurisdiction
Austria	AT	Colt Technology Services GmbH (Austria)	Provision of services to unrelated parties
Austria	AT	Lumen Technologies Austria GmbH	Other
Belgium	BE	Colt Technology Services NV	Provision of services to unrelated parties
Belgium	BE	KVH Telecom Holding SCRL	Holding shares or other equity instruments
Belgium	BE	Lumen Technologies Belgium SA	Other
Bulgaria	BG	Colt Technology Services GmbH (Bulgaria)	Provision of services to unrelated parties
Bulgaria	BG	Lumen Technologies Bulgaria EOOD	Other
Croatia	HR	Colt Technology Services GmbH (Croatia)	Provision of services to unrelated parties
Croatia	HR	Lumen Technologies Croatia Usluge d.o.o.	Other
Czech Republic	CZ	CenturyLink Communications CZ s.r.o.	Other
Czech Republic	CZ	Colt Technology Services GmbH (Cz Republic)	Provision of services to unrelated parties
Denmark	DK	Colt Technology Services A/S	Provision of services to unrelated parties
Denmark	DK	Lumen Technologies Denmark ApS	Other
Estonia	EE	Lumen Technologies Estonia OÜ	Other
Finland	FI	Colt Technology Services Oy	Provision of services to unrelated parties
Finland	FI	Lumen Technologies Finland OY	Other
France	FR	Colt Data Centre Services France	Provision of services to unrelated parties
France	FR	Colt DCS Developments France SAS	Purchasing or procurement
France	FR	Colt Technology Services SAS	Provision of services to unrelated parties
France	FR	Lumen Technologies France SAS	Other
Germany	DE	Colt Data Centre Services Germany GmbH	Provision of services to unrelated parties
Germany	DE	Colt Technology Services GmbH	Provision of services to unrelated parties
Germany	DE	Lumen Technologies Germany GmbH	Other
Germany	DE	Qwest Germany GmbH	Other
Greece	GR	Lumen Technologies NL BV (Greek Branch)	Other
Hungary	HU	Colt Technology Services GmbH (Hungary)	Provision of services to unrelated parties
Hungary	HU	Lumen Technologies Hungary Kft	Other
Iceland	IS	CenturyLink Communications Iceland ehf	Other
Ireland	IE	CenturyLink Communications PEC Services Europe Limited	Other
Ireland	IE	CenturyLink Communications PEC Services Ireland Limited	Other
Ireland	IE	Colt Technology Services Limited	Provision of services to unrelated parties
Ireland	IE	Lumen Technologies EMEA Ireland Limited	Other
Ireland	IE	Lumen Technologies PEC Ireland Limited	Other
Italy	IT	Lumen Technologies Italia Srl	Other
Italy	IT	Colt Data Centre Services Italy S.r.l.	Administrative, management or support services
Italy	IT	Colt Technology Services S.p.A.	Provision of services to unrelated parties
Luxembourg	LU	CenturyLink Communications PEC Luxembourg I S.à r.l.	Internal Group Finance
Luxembourg	LU	CenturyLink Communications PEC Luxembourg II S.à r.l.	Internal Group Finance and Holding shares or other equity instruments
Luxembourg	LU	Colt Lux Group Holding S.à r.l. (LUX 3)	Holding or Managing Intellectual Property, Administrative, management or support services, Internal Group Finance, Holding shares or other equity instruments
Luxembourg	LU	Colt Lux MP S.à r.l. lux5	Holding or Managing Intellectual Property, Holding shares or other equity instruments
Luxembourg	LU	Lumen Technologies Luxembourg S.à r.l.	Other
Luxembourg	LU	MarketPrizm Group S.à r.l.	Holding or Managing Intellectual Property, Holding shares or other equity instruments
Netherlands	NL	CenturyLink Europe B.V.	Other
Netherlands	NL	Colt Data Centre Services Netherlands B.V.	Provision of services to unrelated parties
Netherlands	NL	Colt Technology Services B.V.	Provision of services to unrelated parties
Netherlands	NL	Level 3 Europe B.V.	Holding shares or other equity instruments
Netherlands	NL	Level 3 Holdings B.V.	Internal Group Finance and Holding shares or other equity instruments
Netherlands	NL	Lumen Technologies NL B.V.	Other
Netherlands	NL	Qwest Holdings B.V.	Holding shares or other equity instruments
Netherlands	NL	Qwest Netherlands B.V.	Other
Norway	NO	Colt Technology Services AS	Provision of services to unrelated parties
Norway	NO	Lumen Technologies Norge AS	Other
Poland	PL	Colt Technology Services GmbH (Poland)	Provision of services to unrelated parties
Poland	PL	Lumen Technologies Poland sp z.o.o.	Other
Portugal	PT	CENTURYLINK COMMUNICATIONS ESPAÑA S.A. - SUCURSAL EM PORTUGAL	Other
Portugal	PT	Colt Technology Services, Unipessoal Lda	Provision of services to independent parties and Administrative, management or support services
Romania	RO	Colt Data Centre Services RO S.R.L	Administrative, management or support services
Romania	RO	Colt Technology Services RO S.R.L.	Provision of services to independent parties and Administrative, management or support services
Romania	RO	Lumen Technologies Romania S.R.L.	Other
Slovakia	SK	CenturyLink Communications Slovakia spol. s.r.o.	Other
Slovakia	SK	Colt Technology Services GmbH (Slovakia)	Provision of services to unrelated parties
Slovenia	SI	CenturyLink telekomunikacijske storitve d.o.o.	Other
Spain	ES	Colt Data Centre Services Spain S.L.	Other
Spain	ES	Colt Technology Services S.A.U	Provision of services to independent parties
Spain	ES	Colt Technology Shared Service Centre Barcelona S.L	Administrative, management or support services
Spain	ES	Lumen Technologies Iberia S.A.	Other
Sweden	SE	CenturyLink Communications Sweden AB	Other
Sweden	SE	CenturyLink Europe B.V., The Netherlands, filial Sweden	Other
Sweden	SE	Colt Technology Services AB	Provision of services to independent parties

4. OMITTED INFORMATION

INFORMATION OMITTED (IF ANY) FOR THIS FINANCIAL YEAR:

Not applicable.

INFORMATION OMITTED IN PREVIOUS FINANCIAL YEARS, WHICH IS DISCLOSED IN THIS FINANCIAL YEAR (IF ANY):

Not applicable.