GLOBAL BIOENERGIES

Establishment of flexible bond financing by the reserved issue of OCABSAs for an €11.25 million bond loan on condition of shareholder approval - Seite 4

It should be noted that this transaction will not lead to the establishment of a prospectus subject to AMF approval.

The Company will duly inform the shareholders as and when the 14 OCABSA warrants are issued and exercised.

As a reminder, in October 2015 the Company had put in place an equity financing line (PACEO) with Société Générale, for a maximum of 250,000 BSAs, each convertible to one share and exercisable over 36 months. To date, 125,000 BSAs have been exercised for a total amount raised of €3,272,300. Société Générale's execution of the PACEO agreement is suspended as of this day.

Procedures and legal framework of the issue

Main characteristics of the OCABSAs

The OCABSAs will be issued in several tranches, upon the exercise of the warrants issued free of charge that will subsequently oblige their bearers to subscribe for an OCABSA tranche (the "Warrants"), for 24 months, subject to meeting certain conditions detailed below in Note 1. The Warrants cannot be transferred by the bearer without prior approval by the Company, and shall not be subject to a request for admission for trading on Alternext and therefore not be listed.

A first Warrant was issued yesterday for the Investor on the basis of the 8^th resolution of the Combined General Meeting of 3 June 2015 (private investment).

The 14 additional Warrants can be issued for the Investor on condition of the approval of the principal by the General Meeting of Shareholders, which will be convened on 28 October 2016 at the Company's registered office.

Main characteristics of the OCAs

The OCAs will be issued at par value, i.e. €37,500, and will not carry interest and will mature after 12 months of their issue.

At maturity, any outstanding OCAs must be converted into shares by the Investor. However, should a default occur, any outstanding OCAs at that date must be repaid by the Company at par value.

The OCAs, which will be transferable under certain conditions, shall not be subject to a request for admission for trading on Alternext and shall therefore not be listed.

The OCAs may be converted to shares when requested by their bearer, at any time, according to the conversion parity determined by this formula:

N = Vn / P

Where:

"N": corresponds to the number of new ordinary shares of the Company to be issued on conversion of an OCA;

"Vn": corresponds to the bond represented by the OCA (par value of an OCA);

"P": corresponds to 95% of the lowest volume-weighted average price of the Company's share at closing (as published by Bloomberg) over the ten (10) trading days immediately preceding the date a notice of conversion is sent.