ORPEA

Availability of the Third Amendment to the 2022 Universal Registration Document and Estimates to Date for the 2023 Financial Year

Regulatory News:

ORPEA (Paris:ORP) (the "Company") reminds that a Third Amendment (the "Amendment" or the "Third Amendment") (link) to the 2022 Universal Registration Document (the "Universal Registration Document" or "URD") was filed on 17 January 2024 under reference number D.23-0461-A03 with the Autorité des marchés financiers. The Third Amendment is part of the prospectus approved on 17 January 2024 by the Autorité des marchés financiers under reference number 24-006 for the purposes of the rights issue in the amount of 390 million euros announced today by the Company.

The Company points out that the Third Amendment includes, in Chapter 4, the Company's estimated financial data for the year ended 31 December 2023. This information was reviewed by the Company's Board of Directors on 16 January 2024, and has not been audited by the Company's statutory auditors. The final consolidated financial statements may therefore differ from these estimated financial data.

Based in particular on an average Group occupancy rate estimated at 83.1% (compared with a forecast of 83.5% set out in the First Amendment to the Universal Registration Document dated 10 November 2023 (the "First Amendment")), on personnel costs, excluding headquarters costs, estimated at 62.2% of sales (compared with a forecast of 61.2% set out in the First Amendment, the Group having experienced a lower occupancy rate than initially forecasted and salary increases in certain countries towards the end of the 2023 financial year), and on headquarters costs estimated at 6.8% of sales (compared with a forecast of 7.1% set out in the First Amendment), the Company estimates that:

• revenue in 2023 is expected to come in at around 5.2 billion euros, in line with the forecast set out in the First Amendment ;

• EBITDAR 2023 is expected to be around 690 million euros, -2.8% below the 710 million euros forecast set out in the First Amendment;

• Pre-IFRS 16 2023 EBITDA is expected to be around 210 million euros, compared with the forecast set out in the First Amendment of around 230 million euros.

• the Group's cash position at 31 December 2023 is estimated at around 639 million euros, very close to the level set out in the First Amendment (637 million euros), despite the fact that the payment of salaries in France was executed earlier, i.e end of December vs beginning of January, with an impact of 60 million euros.

The Company also anticipates that, as of the date of this Third Amendment, the following items are likely to have a material impact on the consolidated income statement for the year ended 31 December 2023: