REXEL SUCCESSFULLY PLACES ITS FIRST SUSTAINABILITY-LINKED NOTES OFFERING FOR A NOMINAL AMOUNT OF €300 MILLION

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

REXEL SUCCESSFULLY PLACES ITS FIRST SUSTAINABILITY-LINKED NOTES OFFERING FOR A NOMINAL AMOUNT OF €300 MILLION

Rexel, worldwide expert in the multichannel professional distribution of products and services for the energy world, has successfully placed €300 million of its 2.125% unsecured senior sustainability-linked notes due 2028 (the ”Notes”).

The delivery and settlement and the listing of the notes on the Euro MTF market of the Luxembourg Stock Exchange are expected to occur on or about May 5, 2021.

The Notes, which mature on June 15, 2028, will be callable as from June 2024. They will rank pari passu with Rexel’s senior credit facility and other senior unsecured notes. The Notes are expected to obtain the following ratings: Ba3 by Moody’s (while Rexel’s corporate rating is Ba2 with a stable outlook) and BB- by S&P (while Rexel’s corporate rating is BB with a stable outlook).

Rexel published yesterday its first Sustainability-Linked Bond 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 Vigeo Eiris who provided a Second Party Opinion (“SPO”) on 23 April 2021. Both the Framework and the SPO are 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 23% reduction in greenhouse gas emissions related to the consumption of products sold, per euro of turnover (scope 3) by December 31, 2023 from a 2016 baseline (“Sustainability Performance Target 1”) and
• a 23.7% reduction in greenhouse gas emissions related to energy consumption in its operations (scope 1 and 2) by December 31, 2023 from a 2016 baseline (“Sustainability Performance Target 2”).

These objectives are in line with Rexel 2030 ambition to reduce the first KPI by 45% and the second KPI by 35% from a 2016 baseline.