ADLER Group S.A.
Adler Group S.A. continues on its restructuring path as planned

Adler Group continues on its restructuring path as planned

• The decision of the Court of Appeal to set aside the Sanction Order has no effect on the previously implemented financial restructuring of Adler Group’s indebtedness as the amendments to the terms and conditions of
  its bonds remain in full force in accordance with German law

Luxembourg, 23 January 2024 – Adler Group S.A. (“Adler Group”) said today it will continue its restructuring path as planned. This follows today’s decision by the Court of Appeal of England and Wales (the “Court of Appeal”) to set aside the sanction order made by the High Court of Justice of England and Wales on 12 April 2023 (the “Sanction Order”).

Pursuant to the Sanction Order, the bonds issued by AGPS BondCo plc, a wholly owned subsidiary of Adler Group, were amended as of 17 April 2023. Since then, the amended bond terms have formed the basis of the Adler Group’s ongoing liabilities, and the appellants in April 2023 did not apply for the appeal to have a suspensive effect on the Sanction Order. The implementation of the restructuring in April 2023 was carried out in accordance with German law and therefore the terms and conditions of the bonds remain valid regardless of the decision by the Court of Appeal to set aside the Sanction Order. The Court of Appeal’s decision was made following a hearing lasting several days at the end of October 2023.

While Adler Group respects the decision of the Court of Appeal to set aside the Sanction Order, the decision has no impact on the Adler Group or the effective amendments to the bond terms.

Adler Group is grateful to all its stakeholders for the continued support.

Contact

Investor Relations:

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E investorrelations@adler-group.com