Veolia Successfully Repurchased €364M of OCEANE Due January 2025 via a Reverse Bookbuilding

05 Aug 2024 10:25 CEST

Regulatory News:

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA OR TO U.S. PERSONS, OR IN AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES OF THE SECURITIES WOULD BE PROHIBITED BY APPLICABLE LAW

Veolia Environnement (Paris:VIE) has successfully repurchased today a part of its bonds convertible into and/or exchangeable for new and/or existing shares due January 1st, 2025 (ISIN: FR0013444148) (the “2025 OCEANE”).

Issued in September 2019, the bonds contained a conversion option at a 35% premium compared to Veolia’s share price at that time (€22.52). Since, the exercise price of the option has been exceeded several times, due to the share’s outstanding performance. Veolia has therefore decided to proceed with the repurchase transaction in order to ensure the interests of its shareholders.

“This transaction reflects our confidence in Veolia's share price growth potential and value creation model, at the heart of our GreenUp strategic program, following the announcement of historic half-year results for the Group” declared Estelle Brachlianoff, Chief Executive Officer of Veolia. "Carried out in a spirit of anticipation, this bonds repurchase demonstrates our commitment to our shareholders, essential partners in our mission of ecological transformation."

Conditions of the transaction

As at the close of the reverse bookbuilding process carried out by financial institutions, Veolia has decided to accept the repurchase of 11,971,503 2025 OCEANE in an aggregate principal amount of € 364,503,406.18, representing approximately 52% of the aggregate number of the 2025 OCEANE initially issued.

Repurchase Price

The repurchase price per 2025 OCEANE was set at €31.44 based on the VWAP of Veolia share on the regulated market of Euronext in Paris between opening and close of trading on August 2, 2024 being €28.3545.

The settlement of the repurchase is expected to take place on August 9, 2024. The 2025 OCEANE accepted in the repurchase will be canceled thereafter in accordance with their terms and conditions.

This press release does not constitute of form part of any offer or solicitation to purchase or subscribe for or to sell securities.

ABOUT VEOLIA

Veolia group aims to become the benchmark company for ecological transformation. Present on five continents with nearly 218,000 employees, the Group designs and deploys useful, practical solutions for the management of water, waste and energy that are contributing to a radical turnaround of the current situation. Through its three complementary activities, Veolia helps to develop access to resources, to preserve available resources and to renew them. In 2023, the Veolia group provided 113 million inhabitants with drinking water and 103 million with sanitation, produced 42 million megawatt hours of energy and treated 63 million tonnes of waste. Veolia Environnement (Paris Euronext: VIE) achieved consolidated revenue of 45,351 million euros in 2023. www.veolia.com

Disclaimer – Important information

The repurchase is addressed solely to qualified investors, excluding the United States of America and U.S. Persons, Australia, Canada and Japan and any other jurisdiction where the repurchase would be prohibited by applicable law.

No communication and no information in respect of the repurchase of the 2025 OCEANE may be distributed to the public in any jurisdiction where a registration or approval is required.

This press release does not constitute an invitation to participate in the repurchase or an offer to purchase the 2025 OCEANE in or from any jurisdiction in or from which, or to or from any person to or from whom, it is unlawful to make such repurchase or offer under applicable securities laws. The release, publication or distribution of this press release in certain jurisdictions may be restricted by law. Consequently, any persons in such jurisdiction in which this press release is released, published or distributed are required by each of Veolia and the financial intermediaries to inform themselves about, and to observe, any such restrictions.

None of Veolia and the financial intermediaries makes any recommendation as to whether or not the holders of the 2025 OCEANE should participate in the repurchase.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240802844536/en/

GROUP PRESS RELATIONS
Laurent Obadia – Evgeniya Mazalova
Anna Beaubatie – Aurélien Sarrosquy
Tel.+ 33 (0)1 85 57 86 25
presse.groupe@veolia.com

INVESTORS & ANALYST RELATIONS
Selma Bekhechi – Ariane de Lamaze
Tel. + 33 (0)1 85 57 84 76 / 84 80
investor-relations@veolia.com