EMEIS PURSUES ITS REFOUNDATION

2023 Consolidated Financial Results of ORPEA S.A. - Seite 2

On 20 March, as part of the ongoing Refoundation Plan, the Company adopted a new identity, emeis, and a new corporate purpose: "Together, let’s stand as a strength for the vulnerable among us". The new corporate name and purpose are the result of extensive consultation with employees. They demonstrate the commitment of our teams to a purpose that will enable us and our stakeholders – patients, residents, family and friends, healthcare professionals, regulators and public authorities – to respond even more effectively to the major challenges facing society in terms of mental and physical health, and old age.

In order to anchor this change of identity as a marker for sustainable transformation, the corporate purpose will be enshrined in the Company's Articles of Association, subject to a positive vote at the Annual General Meeting. The emeis Group will then embark on the process of becoming a mission-led company by 2025.

This Refoundation Plan could not be implemented without the success of the financial restructuring plan, which has ensured the Company's long-term viability and has been accompanied by the acquisition of 50.2% of the Company's share capital by new reference shareholders (Caisse des Dépôts, CNP Assurances, MAIF and MACSF³).

2- Analysis of the 2023 full-year consolidated income statement

As part of the publication of its 2023 annual results, the Group refers to financial indicators taken from its consolidated financial statements, as well as to alternative performance measures, which are presented in detail in the appendices to this press release. Definitions and calculation methods for these indicators are presented on page 10, 13 and 14 of this press release.

ORPEA SA’s consolidated revenue came to €5,198 million in 2023, up 11.0% compared with 2022, including organic growth of 9.5%. This performance was driven by an increase in Group occupancy rates (up 1.5 percentage points to 83.1% on average in 2023 and up 1.1 percentage points in the second half compared with the first half; the average occupancy rate for nursing homes in France was up 1.2 percentage points in the second half of 2023 compared with the first half), with the exception of nursing homes in France (average occupancy rate in 2023: 83.6%, vs. 85.6% in 2022). It is also attributable to an increase in capacity over the year, both as a result of the opening of 31 additional facilities and the inclusion of new facilities in the scope of consolidation, bringing the total network to 1,031 facilities at the end of December 2023 (corresponding to 93,470 beds).