ORPEA

Resumption of Trading on 26 October Upon Market Opening

Regulatory News:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221025006174/en/

Appendix 1 – Gross financial debt maturity profile (Graphic: Business Wire)

ORPEA S.A (Paris:ORP):

The highly inflationary economic environment and the consequences of the strategic and financial review conducted, currently being finalized by the new management team since the Company’s last publications, have led the Company in a situation requiring to renegotiate its debt, including the covenants contained in many of its financing lines, which may not be met as they stand at 31 December 2022. In addition, the current context also impacts the asset disposal program as envisaged in the financing plan agreed with the main banking partners in May of this year, which aimed at ensuring the Group's liquidity. The amount of gross debt due as of 31 December 2023 (as calculated as of 30 June 2022, pro forma for drawings made as of 27 September 2022) is €2.439 billion.

ORPEA S.A therefore received yesterday approval regarding the opening of an amicable conciliation procedure² by the President of the Nanterre specialized Commercial Court. The purpose of this procedure is to enable ORPEA S.A to engage in discussions with its financial creditors on the restructuring of its financial debt, to obtain new financial resources and to adjust its covenants, within a stable and legally secure framework. The conciliation procedure only concerns the financial debt of ORPEA S.A as legal entity and will not involve operational creditors (such as suppliers). It will have no impact on operations, employees, patients, residents and their families.

This new step, which has the Board of Directors’ unanimous approval and support, is a prerequisite for the implementation of ORPEA's transformation plan that will be presented on 15 November.

Following the suspension on 24 October 2022, the trading of all financial instruments (shares, debt securities and related securities) issued by ORPEA will resume on this Wednesday 26 October 2022, at the market opening.

Laurent Guillot, Chief Executive Officer, said:

“The new management team and all the ORPEA teams are fully mobilized on our main priorities: safety and working conditions for our employees; quality of care and support for our residents, patients and their families; ethical and responsibility principles inherent to our mission.