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.

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.

The Bonds are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area (the “EEA”). For these purposes, a “retail investor” means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, “MiFID II”); (ii) a customer within the meaning of Directive (EU) 2016/97, as amended, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) a person who is not a qualified investor within the meaning of Article 2(e) of the Prospectus Regulation.

The Bonds are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom. For these purposes, a “retail investor” means a person who is one (or more) of the following: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No. 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (the “EUWA”); (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 (as amended, the “FSMA”) and any rules or regulations made thereunder to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) a person who is not a qualified investor as defined in Article 2 of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the EUWA.

This press release does not constitute and shall not, in any circumstances, constitute a public offering nor an invitation to the public in connection with any offer within the meaning of the Prospectus Regulation or otherwise.

In the United Kingdom, this press release is directed only at persons who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Financial Promotion Order”), (ii) are persons falling within Article 49(2)(a) to (d) of the Financial Promotion Order or (iii) are other persons to whom it may lawfully be communicated (all such persons together being referred to as “Relevant Persons”). The issue of the Bonds is only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire the Bonds will be directed only to Relevant Persons.

MiFID II professionals/ECPs-only/ No PRIIPs KID – Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail investors in EEA and in the United Kingdom.

Calendar

30.05.2024: Shareholders’ General Meeting

25.07.2024: Publication of 2024 half-year results

24.10.2024: Publication of 2024 Group third-quarter turnover

ABOUT ERAMET

Eramet transforms the Earth’s mineral resources to provide sustainable and responsible solutions to the growth of the industry and to the challenges of the energy transition.

Its employees are committed to this through their civic and contributory approach in all the countries where the mining and metallurgical group is present.

Manganese, nickel, mineral sands, lithium, and cobalt: Eramet recovers and develops metals that are essential to the construction of a more sustainable world.

As a privileged partner of its industrial clients, the Group contributes to making robust and resistant infrastructures and constructions, more efficient means of mobility, safer health tools and more efficient telecommunications devices.

Fully committed to the era of metals, Eramet’s ambition is to become a reference for the responsible transformation of the Earth’s mineral resources for living well together.

1 Please refer to the following for further information:

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