Meyer Burger announces the terms of its rights issue of around CHF 200 million and amends its proposals to the EGM - Seite 3

The members of the Board of Directors and of the Executive Committee, holding 0.37% of the share capital in aggregate, intend to participate in the capital increase by exercising their subscription rights. Meyer Burger and all members of the Board of Directors and the Executive Committee have entered into lock-up undertakings that run until six months after the first day of trading of the new shares.

Updates to board proposals to EGM

The Company's Board of Directors has adapted its proposals to the EGM to the terms of the rights issue. Under EGM agenda item 1, the Board of Directors proposes to reduce the nominal value of each registered share from currently CHF 0.05 to CHF 0.01 (and thus to reduce the Company's share capital to CHF 35,972,185.51), to allocate the total amount of the reduction to the statutory capital reserves and to increase the share capital by up to CHF 201,444,238.86 to up to CHF 237,416,424.37 by issuing up to 20,144,423,886 new registered shares with a nominal value of CHF 0.01 each.

In addition, the Board of Directors proposes (i) under agenda item 2 to increase the conditional capital pursuant to Art. 3c of the Company's Articles of Association to CHF 20,200,000 through the issuance of a maximum of 2,020,000,000 registered shares with a nominal value of CHF 0.01 each, and (ii) under agenda item 3 to introduce a new article 3d in the Company's Articles of Association providing for a capital range with an upper limit of CHF 261,158,066.80, which is 10% more than the share capital expected immediately upon completion of the capital increase, in each case as further described in the invitation to the EGM and as will be presented at the EGM.

Financing workstreams on track

Meyer Burger continues to make further progress on the planned financings. On March 15, 2024, Meyer Burger executed a non-binding term sheet and granted exclusivity to a large international investment bank for an advanced manufacturing production tax credit (so-called 45X) financing in the amount of up to USD 300 million, with a term of 6 years. The first drawdown under the loan is subject to certain conditions, including execution of long-form documentation, and targeted for the end of the second quarter of 2024. Additionally, and as previously announced, following a detailed due diligence process, the federal government of Germany has approved an export agency credit guarantee for financing to be provided by a large German bank with a targeted amount of up to USD 95 million. The disbursement of the loan is subject to certain conditions, including finalizing the long-form documentation, and is also targeted for the end of the second quarter of 2024.