Altice Europe N.V. intent to waive offer conditions and not have a post-acceptance period - 14.01.2020 - 8:30 am CET

This is a joint press release by Altice Europe N.V. ("Altice Europe") and Next Private B.V. (the "Offeror"), a direct subsidiary of Next Alt S.à r.l. which is owned and controlled by Mr. Patrick Drahi, the founder of Altice Europe, in connection with the public offer by the Offeror for all issued and outstanding common shares A and common shares B in the capital of Altice Europe (the "Offer"). This press release does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities. Any offer will be made only by means of the offer memorandum dated 24 November 2020 (the "Offer Memorandum"). This press release is not for release, publication or distribution, in whole or in part, in or into, directly or indirectly, any jurisdiction in which such release, publication or distribution would be unlawful. Terms not defined in this press release will have the meaning as set forth in the Offer Memorandum.

Intent to Waive Offer Conditions and not have

a Post-Acceptance Period

Offer Period set to expire on 21 January 2021, 17:40 CET

Amsterdam, the Netherlands, 14 January 2021

Reference is made to (i) the Offer Memorandum and (ii) the joint press release by the Offeror and Altice Europe dated 16 December 2020 regarding the increase of the Offer Price to EUR 5.35 in cash per Listed Share (cum dividend).

The Offer Period is set to expire on 21 January 2021 at 17:40 CET, unless extended. The obligation of the Offeror to declare the Offer unconditional is subject to the satisfaction or waiver of the Offer Conditions, which are set out in section 6.6.1 of the Offer Memorandum.

It is hereby announced that the Offeror does not intend to extend the Offer Period and that the intent is that any Offer Condition that may be waived by the Parties and that is not satisfied on the Closing Date be waived in accordance with section 6.6.2 of the Offer Memorandum.

Furthermore, the Offeror and Altice Europe hereby announce that they have the intention not to have a Post-Acceptance Period. If the Offer is declared unconditional, it is envisaged that the Post-Offer Merger will be implemented as soon as possible after Settlement of the Offer.

Shareholders wishing to tender their Listed Shares into the Offer should contact their custodian, bank or stockbroker to obtain information about the deadline by which they must send instructions to such financial intermediary to accept the Offer, as such deadline may be earlier than 21 January 2021, 17:40 CET. For more information on how to accept the Offer, see section 5.3 of the Offer Memorandum.

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Contacts - Altice Europe:

Head of Investor Relations Altice Europe

Sam Wood: [phone] / [e-mail]

Head of Communications Altice Europe

Arthur Dreyfuss: [phone] / [e-mail]

About Altice Europe

Altice Europe (ATC & ATCB), listed on Euronext Amsterdam, is a convergent leader in telecoms, content, media, entertainment and advertising. Altice Europe delivers innovative, customer-centric products and solutions that connect and unlock the limitless potential of its over 30 million customers over fibre networks and mobile broadband. Altice Europe is also a provider of enterprise digital solutions to millions of business customers. Altice Europe innovates with technology, research and development and enables people to live out their passions by providing original content, high-quality and compelling TV shows, and international, national and local news channels. Altice Europe delivers live broadcast premium sports events and enables its customers to enjoy the most well-known media and entertainment.

About the Offeror

The Offeror is a direct subsidiary of Next Alt which is owned and controlled by Mr. Patrick Drahi, the founder of Altice Europe. Mr. Drahi currently owns, indirectly, approximately 77.58% of Altice Europe's issued share capital.

Disclaimer

The information in this press release is not intended to be complete. This press release is for information purposes only and does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities.

The distribution of this press release may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this press release should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, Altice Europe and the Offeror disclaim any responsibility or liability for the violation of any such restrictions by any person. Any failure to comply with these restrictions may constitute a violation of the securities laws of that jurisdiction. Neither Altice Europe, nor the Offeror, nor any of their advisors assumes any responsibility for any violation of any of these restrictions. Any Altice Europe shareholder who is in any doubt as to his or her position should consult an appropriate professional advisor without delay.

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Certain statements in this press release may be considered forward-looking statements, such as statements relating to the expected timing and completion of the Offer. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future, and Altice Europe and the Offeror cannot guarantee the accuracy and completeness of forward-looking statements. A number of important factors, not all of which are known to Altice Europe or the Offeror or are within their control, could cause actual results or outcomes to differ materially from those expressed or implied in any forward-looking statement as a result of risks and uncertainties facing Altice Europe. Any forward-looking statements are made only as of the date of this press release, and Altice Europe and the Offeror assume no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.

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