Eramet

Launch of a tender offer to repurchase its bonds due February 2024 and potential issuance of inaugural sustainability-linked bonds

Paris, 9 May 2023, 9:45 a.m.

PRESS RELEASE

Eramet: Launch of a tender offer to repurchase its bonds due February 2024 and potential issuance of inaugural sustainability-linked bonds

Eramet (the “Company”) announces today:

(i)      the launch of a tender offer to purchase for cash (up to a maximum aggregate principal amount to be announced by the Company as soon as practicable following the pricing of the New Bonds) of its €500 million bonds due February 2024 issued on 28 September 2017 (ISIN: FR0013284643), of which €429.7 million are currently outstanding, and which are admitted to trading on the regulated market of Euronext Paris (the “Existing Bonds”) (the “Tender Offer”); and

(ii)      its intention, subject to market conditions, to issue sustainability-linked bonds denominated in euros concomitantly with the Tender Offer (the “New Bonds”).

The Tender Offer is made under the terms and conditions set out in the Tender Offer Memorandum dated 9 May 2023. This Tender Offer is, in particular, conditional upon the pricing of the issue of the New Bonds and the signing of a subscription agreement to be entered into between the Company and the Global Coordinators and Joint Lead Managers in respect of the New Bonds. An application for admission to trading on the regulated market of Euronext in Paris should be made. The net proceeds of the New Bonds would be used for general corporate purposes of the Company, including to refinance part of the Existing Bonds to be purchased in the context of the Tender Offer.

A mechanism of priority allocation in the New Bonds may be applied at the sole and absolute discretion of the Company for holders of the Existing Bonds who participate in the Tender Offer and who wish to subscribe to the New Bonds.

The purpose of this Tender Offer and the contemplated issue of the New Bonds is, amongst other things, to proactively manage the Company’s debt profile and to extend its average maturity.

Results of the Tender Offer will be announced as soon as practicable after the pricing of the Tender Offer which is expected on 17 May 2023 (subject to any extension, withdrawal, termination or amendment of this Tender Offer).

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DISCLAIMER

This press release does not constitute an offer to subscribe to the New Bonds nor an invitation to participate in the Tender Offer in or from any country or jurisdiction to whom or in which such offer would be unlawful under the applicable laws and regulations.