REXEL LAUNCHES A SUSTAINABILITY-LINKED NOTES OFFERING FOR A NOMINAL AMOUNT OF €400 MILLION

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA

REXEL LAUNCHES A SUSTAINABILITY-LINKED NOTES OFFERING FOR A NOMINAL AMOUNT OF €400 MILLION

Rexel, a worldwide expert in the multichannel professional distribution of products and services for the energy world, announced today that it intends to offer €400 million of senior unsecured sustainability-linked notes due 2030 (the “Notes”). The Notes, callable at Rexel’s discretion as from September 2026, will rank pari passu with Rexel’s senior credit facility and other senior unsecured notes.

Rexel published today its new Sustainability-Linked Financing Framework (the “Framework”) which covers debt instruments whose financial characteristics are linked with sustainability performance targets.

The Framework has been established in accordance with the Sustainability-Linked Bond Principles (SLBP) administered by ICMA and reviewed by Moody’s Investors Service, which provided a Second Party Opinion (“SPO”) in September 2023. Both the Framework and the SPO will be made available on the Company’s website:

https://www.rexel.com/en/finance/debt/#slb

Under this Framework, Rexel selected two indicators (the “Key Performance Indicators” or “KPIs”) and committed to achieve:

• a 45% reduction in greenhouse gas emissions related to the use of products sold, per euro of turnover (scope 3) by December 31, 2025 from a 2016 baseline (“Sustainability Performance Target 1”); and
• a 38% reduction in greenhouse gas emissions related to energy consumption in its operations (scope 1 and 2) by December 31, 2025 from a 2016 baseline (“Sustainability Performance Target 2”).  

These objectives are in line with Rexel 2030 ambition to reduce the first KPI (in intensity) by 60% and the second KPI (in absolute terms) by 60% from a 2016 baseline.

The interest rate of the Notes shall be increased by 25 basis points from September 15, 2026, if Rexel does not achieve these Sustainability Performance Targets.

Rexel will use the proceeds of the issuance of the Notes for general corporate purposes, including the financing of the acquisition of Wasco. This issuance will allow Rexel to enhance its financial structure by extending its debt maturity profile at favorable financing conditions.