UBISOFT ANNOUNCES THE RESULTS OF THE REPURCHASE OF ITS OUTSTANDING OCEANES DUE 24 SEPTEMBER 2024 FOR A NOMINAL AMOUNT OF APPROXIMATELY €250 MILLION

UBISOFT ANNOUNCES THE RESULTS OF THE REPURCHASE OF ITS OUTSTANDING OCEANES DUE 24 SEPTEMBER 2024 FOR A NOMINAL AMOUNT OF APPROXIMATELY €250 MILLION

20231128 - Repurchase Pricing PR (ENG)

Paris, 28 November 2023

Ubisoft Entertainment S.A. (“Ubisoft” or the “Company”) (ISIN: FR0000054470) announces the results of the concurrent repurchase of its outstanding OCEANEs due 24 september 2024 for a nominal amount of approximately €250 million, after the successful placement of bonds convertible into and/or exchangeable for new or existing shares (“OCEANEs”) due 2031 (the “Bonds”) by way of a public offering only to qualified investors as defined in article 2(e) of Regulation (EU) 2017/1129 of the European Parliament and the Council of 14 June 2017, as amended (the “Prospectus Regulation”) in accordance with Article L. 411-2 1° of the French Monetary and Financial Code (Code monétaire et financier), for a nominal amount of €494.5 million (the “Offering”).

Concurrent partial repurchase of the outstanding 2024 OCEANEs (ISIN code: FR0013448412)

In connection with the Offering, the Company invited the eligible holders of the 2024 OCEANEs to submit offers to sell for cash their 2024 OCEANEs, via the Joint Dealer Managers (as defined below), in a reverse bookbuilding procedure (the “Repurchase”) for an aggregate principal amount of approximately €250 million (the “Repurchase Amount”) representing approximately 50% of the aggregate principal amount of 2024 OCEANEs issued initially.

As at the close of business on 27 November 2023, the aggregate principal amount of outstanding 2024 OCEANEs amounted to €499,999,897.

The repurchase price per 2024 OCEANE was set at €110.7.

The settlement of the Repurchase is expected to take place on 6 December 2023 and is subject to the settlement and delivery of the Bonds. The 2024 OCEANEs repurchased by the Company will be cancelled thereafter in accordance with their terms and conditions and in accordance with applicable law and regulation.

Following settlement of the Repurchase, the remaining outstanding principal amount of 2024 OCEANEs will be €249,999,891.

BNP Paribas, Crédit Agricole CIB and J.P. Morgan SE acted as Joint Dealer Managers for the Repurchase.

Important Information

This press release does not constitute or form part of any offer or solicitation to purchase or subscribe for or to sell securities and the Offering is not an offer to the public in any jurisdiction, including France.