McPhy Energy is making available information concerning a contemplated issue of bonds convertible into new ordinary shares and/or exchangeable for existing ordinary shares

McPhy Energy is making available information concerning a contemplated issue of bonds convertible into new ordinary shares and/or exchangeable for existing ordinary shares for the benefit of  EDF Pulse Holding and EPIC Bpifrance¹ and, if applicable, other investors

Grenoble, May 17, 2024 – 10:00 pm CEST – McPhy Energy, a specialist in low-carbon hydrogen production and distribution equipment (electrolyzers and refuelling stations) (the “Company”), today announced the availability of additional information regarding a contemplated issue of bonds convertible into new shares and/or exchangeable for existing shares (OCEANEs), maturing 5 years after their issue (the “Convertible Bonds”) to the benefit of EDF Pulse Holding (“EDF Pulse”) and EPIC Bpifrance, acting on behalf of the French State under the French Tech Souveraineté Agreement (Convention French Tech Souveraineté) dated December 11, 2020 (“French Tech Souveraineté”), for a total nominal amount of €30 million (the “Issue”), which is the subject of resolutions submitted to the approval of the Shareholders General Meeting to be held on May 30, 2024. The Company will consider the possibility of issuing an additional amount to other investors depending on market conditions.

As previously disclosed², the key financial terms of the Convertible Bonds would be as follows:

• The Convertible Bonds would be issued and redeemed at par, bear interest at 8% per annum, payable annually, and have a maturity of 5 years;
• The conversion price of the Convertible Bonds would represent a premium of 20% over the reference price determined on the issue date;
• Conversion (in whole or in part) may be requested by bondholders at any time from the date of issue until maturity. In the event of a conversion request, the issuer may deliver new and/or existing shares and/or a cash amount (based on the share price at the time of the conversion request).

The net proceeds of the Issue will enable the Company to finance its working capital requirements and general cash needs, in particular the development of its commercial activity, industrial facilities and its research and development activity.