Adler Group S.A. successfully placed EUR 191,000,000 senior secured notes due 31 July 2025 (the "New Notes"). The New Notes will be issued at 100% of their nominal value and accrue an annual PIK-amount of 21%. The New Notes are secured in ranking after the relevant asset level financings and the Company's financing obtained in connection with the restructuring under the Company's existing intercreditor agreement (i.e., secured on a "1.5 Lien" basis).

The net proceeds from the issuance of the New Notes will be used for the repayment of the Company's outstanding EUR 165,000,000 senior secured convertible notes due 23 November 2023 (ISIN DE000A2RUD79) (the "Convertible Notes") and certain promissory notes (Schuldscheine) issued by ADO Lux Finance S.à r.l. and guaranteed by the Company. Provided that the customary closing conditions of the New Notes will be fulfilled, the Company expects that the conditions to the tender offer for its Convertible Notes launched on 29 August 2023 will also be satisfied so that the tender offer can close.