The event of default - non-payment of interest

14 Nov 2025 19:30 CET

Current Report 6/2025
ISIN NO0013364380, XOAM market

Legal basis: paragraph 3.2.1.1. point 3) of INSIDE INFORMATION, ABM Rules

In connection with the current report 5/2025 published on 07/11/2025, regarding
the opening of remedial proceedings of Okechamp S.A. (the subsidiary of Okechamp
Global B.V.), Okechamp Global B.V. (the Company, the Issuer) is informing that:

1. Pursuant to the Bond Terms dated 12 November 2024 (the Bond Terms), an Event
of Default has occurred, as defined under paragraph 14.1. (a) Non-payment of the
Bond Terms.

2. The Issuer has failed to pay EUR 1,339,353.89 of coupon interest payable, and
this amount is due for payment on 14/11/2025. The Issuer has not substantiated
that it shall make such a payment in full within 5 Business Days following the
original due date. Such a delayed payment of interest could have been accepted
at the discretion of the Bond Trustee, according to paragraph 14.1. (a) ii) of
the Bond Terms.

3. In the current situation, when the Event of Default has occurred and is
continuing, the Bond Trustee may - in its discretion or upon instructions
received from the Bondholders – to serve a Default Notice to the Issuer and:
3.1. declare that the Outstanding Bonds, together with accrued interest and all
other amounts accrued be immediately due and payable, and/or
3.2. exercise any or all of its rights, remedies, powers or discretions under
the Bond Terms or take such further measures that are necessary to recover the
amounts outstanding.

4. As the Issuer already informed in the current report 4/2025, published on
30/10/2025, the other events of default had occurred: in accordance with the
Clause 14.1(b) (Other obligations) of the Bond Terms - due to the Issuer's
failure to comply with the Financial Covenants, and the Clause 14.1 (e)
(Insolvency and insolvency proceedings) - due to Okechamp S.A. (the subsidiary)
being the object of remedial proceedings (postepowanie sanacyjne) that were
opened by the court in Poznan, Poland on 05/11/2025.

5. Subsequently, the Issuer received the Acceleration Notice, dated 17/10/2025,
from Nordic Trustee AS, acting in its capacity as a Bond Trustee for the Bonds.
The Bondholders have taken measures to protect their position by accelerating
the outstanding bonds for immediate payment.

6. Nordic Trustee AS also delivered to Okechamp S.A. and Okechamp B.V. (the
subsidiaries), the Notice of Demand dated 17/10/2025, in which the Bondholders
called on the guarantees and notified the subsidiaries that an amount of EUR
58,839,024.44 was due and unpaid. Okechamp Global B.V. and Okechamp S.A. are the
guarantors of the Guarantee agreement dated 05/02/2025, made between Okechamp
Global B.V. as the Issuer and Nordic Trustee as the Security Agent and Bond
Trustee for the Bondholders.

7. To the best knowledge of the Management Board, no actual enforcement of any
security has been made. The Issuer informed in its current report 5/2025
published on 07/11/2025 that on 17/10/2025 Advokatfirmaet BAHR AS, acting as a
legal counsel to the ad-hoc group of Bondholders holding more than 2/3 of the
Bonds issued (the Ad-hoc Group) and Nordic Trustee AS, informed the Issuer that
the members of the Ad-hoc Group expressed their willingness to consider
participation in a potential liquidity financing, and that the Ad-hoc Group is
considering a comprehensive recapitalisation proposal for the Issuer.

The Management of Okechamp Global B.V.

For inquiries, please contact: okechamp.global@okechamp.eu
SJM

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