Valeo is renewing its employee share offering
PRESS RELEASE
Valeo is renewing its employee share offering
September 16, 2025 – Paris, France – Valeo is renewing its shares subscription offering reserved for Group employees. This operation, opened to around 90,000 eligible employees in 21 countries, aims to associate them over the long term with the Group's results and development. Today, one employee out of two holds directly or indirectly Valeo shares. Employees held 4.70% of Valeo’s share capital on June 30, 2025. The capital increase and the delivery of Valeo shares in the framework of the offer are expected to take place on November 13, 2025. The main terms and conditions of this operation are detailed below.
ISSUER
Valeo, a French European Company (Société Européenne) with a share capital of EUR 244 633 504 having its registered office at 100 rue de Courcelles – 75017 Paris – France, and registered in the trade registry of Paris under number 552 030 967 (the “Company”)
Listed on Euronext Paris (France)
ISIN code: FR0013176526 FR
PURPOSE OF THE OFFERING
This plan is part of the development of the employee shareholding policy of Valeo in France and abroad with the goal of involving employees in the performance and development of the Group.
CONTEXT OF THE OFFER – SECURITIES OFFERED
The offer is pursuant to Articles L. 3332-18 et seq. of the French Labor Code, in the context of the French group savings plan (plan d’épargne de groupe, PEG) and the international group savings plan (plan d’épargne de groupe international, PEGI) of Valeo. The subscription of shares is made pursuant to the 22nd resolution of the General meeting of shareholders held on May 22, 2025. Employees subscribing to the offering outside of France will benefit from the grant of free shares pursuant to the 18th resolution of the General meeting of shareholders of May 23, 2024.
The share subscription offering covers a maximum of 1,200,000 Valeo shares with a nominal value of EUR 1 per share.
The shares will bear immediate dividend entitlements and will be fully fungible with existing shares upon their issuance.
SUBSCRIPTION TERMS
Beneficiaries of the offering
The offering is open to employees having seniority of at least three months, acquired consecutively or not, between January 1, 2024 and the last day of the subscription period with a Valeo Group company member of the PEG or the PEGI, as the case may be. The offering is made available in the following countries: France, Belgium, Brazil, China, Czech Republic, Egypt, Germany, Hungary, India, Ireland, Italy, Japan, Malaysia, Mexico, Poland, Romania, South Korea, Spain, Thailand, Turkey and the United States of America.
The offer is also open in France to former employees in retirement or pre-retirement and who have kept assets in the PEG since their departure from the group.
Subscription formula
Employees may subscribe shares either through the company shareholding fund (fonds commun de placement d’entreprise, FCPE) “Shares4U Relais 2025” intended to merge with the FCPE “Valeorizon” after the approval of the Supervisory board of the FCPE and of the AMF, or, in some countries, through direct shareholding. The employee’s investment will fluctuate in the same manner as the price of the Valeo share, both as it increases or decreases.
The share subscription allows employees subscribing in the context of the PEG to benefit from a matching contribution from their employer.
Outside of France, employees will be awarded conditional shares for free according to the terms and conditions of the plan rules adopted by the Company. The free shares are existing shares of Valeo repurchased by the Company.
Custody of shares – Exercise of voting rights
Subscription is carried out through an FCPE or, in certain countries, by direct shareholding.
When the shares are subscribed through an FCPE, the voting rights are exercised by the elected members of the Supervisory Board (Conseil de surveillance) of the FCPE.
With regard to the shares subscribed for directly, the voting rights are exercised by the subscribers.
Subscription price
The subscription price was set on September 15, 2025 at 8.40 euros. It corresponds to the average of opening prices of Valeo shares on 20 trading days from August 18, 2025 to September 12, 2025 inclusive, after a discount of 20%.
Subscription period
The beneficiaries may subscribe to the offering from September 16, 2025 (inclusive) to October 6, 2025 (inclusive).
Lock-up of the shares
Subject to specific provisions applicable in certain countries, the FCPE units as well as the shares subscribed directly will be subject to a locked period of 5 years as provided for in the PEG (up to May 31, 2030 inclusive) and the PEGI (up to June 30, 2030 inclusive, and for Belgium until November 13, 2030 inclusive), except in the event of a case providing for early release as provided for in Articles L. 3332-25 and R. 3324-22 of the French Labor Code, and as applicable in different countries of implementation of the offering.
CAPITAL INCREASE AND LISTING OF SHARES
The capital increase and the delivery of Valeo shares under the offering are expected to take place on November 13, 2025. An application for listing on Euronext Paris of the Valeo shares issued in the context of this offering will be file