Neoen Adjusts Conversion Ratio for 2025 OCEANEs

Neoen SA has announced an adjustment to the conversion ratio of its green bonds, referred to as OCEANEs, due in 2025. This adjustment follows the Autorité des marchés financiers (AMF) declaring admissible a mandatory tender offer by Brookfield Renewable Holdings SAS on February 11, 2025. The conversion ratio will temporarily change from 1.176 to 1.204 Neoen shares per bond during a specific period.

The adjustment period is from February 13 to April 1, 2025, coinciding with the tender offer period. Bondholders can exercise their conversion rights by submitting a request through the account holder managing their securities. The conversion process includes the transfer of bonds to a centralising agent, after which shares are delivered within three business days.