Eramet

Successful issue of €500 million sustainability-linked bonds

Paris, 23 May 2024, 6:00 p.m.

PRESS RELEASE

Eramet: Successful issue of €500 million sustainability-linked bonds

Eramet announces today the successful issue of sustainability-linked bonds in a principal amount of €500 million and with a 5.5-year maturity and an annual coupon of 6.5 per cent (the “Bonds”).

The Bonds have been very well welcomed by a diversified base of institutional investors in France and abroad. The order book, more than 3 times subscribed, reflects the strength of the Group’s fundamentals, its growth and its prospects.

Eramet’s new sustainability linked-bond is aligned with the new Sustainability-Linked Financing Framework which is available on the website of the Company¹. The Bonds are linked to two sustainability performance targets which are:

(i)      the reduction by 37 per cent, compared to 2019, of the annual Scope 1 and Scope 2 greenhouse gas emissions intensity of the Eramet Group on 31 December 2026,

(ii)      the increase to 67 per cent of the share (by emission) of its suppliers and its customers having decarbonization targets for their own greenhouse gas emissions (scopes 1 and 2) that are consistent with the well-below 2° Celsius scenario of the Paris Agreement or more ambitious, on 31 December 2026.

The Bonds, scheduled for settlement on 30 May 2024, are expected to be admitted to trading on the regulated market of Euronext in Paris and rated Ba2 by Moody’s and BB by Fitch.

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DISCLAIMER

This press release does not constitute an offer to subscribe to the Bonds in or from any country or jurisdiction to whom or in which such offer would be unlawful under the applicable laws and regulations.

This press release is not a prospectus for the purposes of the Regulation (EU) 2017/1129 (as amended, the “Prospectus Regulation”).

The issue of the Bonds is not being subject to a public offering in any country or jurisdiction, including in France, to any person other than qualified investors (as defined in article 2(e) of the Prospectus Regulation).

The distribution of this press release may be restricted by law in certain jurisdictions. Persons into whose possession this press release comes should inform themselves about and observe any applicable legal and regulatory restrictions.

The Bonds will only be offered outside the United States pursuant to “Regulation S” under the U.S. Securities Act of 1933, as amended (the “Securities Act”), subject to prevailing market and other conditions. Bonds have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in “Regulation S” under the Securities Act) (the “U.S. Persons”) absent registration or unless pursuant to an applicable exemption from the registration requirements of the Securities Act and any other applicable securities laws. This press release does not constitute an offer to sell or the solicitation of an offer relating to the Bonds, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.