Europcar Mobility Group Announces the Conclusion of an Amendment Agreement to the Lock-up Agreement Executed on November 25, 2020

Regulatory News:

On November 26^th, 2020, Europcar Mobility Group (Paris:EUCAR) announced having entered into a lock-up agreement with the members of the coordinating committee representing the group of holders of each series of 2024 Senior Notes, 2026 Senior Notes and of the EC Finance plc's Senior Secured Notes, also holding interests in the RCF¹ and the Credit Suisse Facility (representing approximately 51.1% of the 2024 Senior Notes, approximately 72.7% of the 2026 Senior Notes, 100% of the Credit Suisse Facility, approximately 45.7% of the RCF commitments and approximately 22.2% of the EC Finance plc's Senior Secured Notes) (the “Cross-Holders Coordinating Committee”).

Pursuant to this lock-up agreement, the members of the Cross-Holders Coordinating Committee committed to support and to take all steps and actions reasonably necessary to implement and consummate the financial restructuring as described in the press release published by Europcar Mobility Group on November 26^th, 2020 (the “Initial Press Release”).

Since this announcement, any of the holders of the 2024 Senior Notes and 2026 Senior Notes (the “Senior Notes”) has been offered the possibility until December 10^th, 2020, to accede to the lock-up agreement by contacting Lucid Issuer Services Limited (Attention: Victor Parzyjagla, [phone], [e-mail]).

AMENDMENT TO THE LOCK-UP AGREEMENT AND OPENING OF A BACKSTOP COMMITMENT PERIOD FOR HOLDERS OF 2024 SENIOR NOTES AND 2026 SENIOR NOTES

Europcar Mobility Group announces today that is has entered into an amendment agreement to the lock-up agreement with its parties thereto, pursuant to which:

- the Subscription Period with respect to the New Money and the RCF Refinancing (as such terms are defined in the Initial Press Release) has been extended until 5 p.m. (London time) December 11^th, 2020; and,

- the backstop arrangements, under which the underwriting of €1.145 billion of New Money and RCF Refinancing will be guaranteed, initially undertaken by the sole members of the Cross-Holders Coordinating Committee, have been opened to other holders of the 2024 Senior Notes and 2026 Senior Notes.

Therefore, the holders of the Senior Notes may commit to backstop (the “Backstop Undertaking”) under the same terms and conditions as the ones applicable to the Cross-Holders Coordinating Committee, subject to the proper execution of an accession letter (a second accession letter being necessary for holders having already acceded) to the lock-up agreement (the form of which should be requested by contacting Lucid Issues Services Limited) under the following terms: