• Neoen’s €170m green convertible bonds due 2025 will bear an interest of 2.0% from the Issue Date. The nominal unit value of the Bonds has been set at a premium of 40% above Neoen’s reference share price
• Proceeds of the Neoen’s green convertible bonds will be allocated to finance or refinance renewable energy production (solar PV, wind power) or storage activities in consistency with EU taxonomy requirements and with the Framework released yesterday and available on its website

Neoen (ISIN Code: FR0011675362, Ticker: NEOEN, Vigeo ESG Rating 61/100) (the “Company”), one of the world’s leading and fastest-growing independent producers of exclusively renewable energy, announces today the success of the placing of the first ever European senior unsecured green bonds convertible into new shares and/or exchangeable for existing shares of the Company (OCEANE Verte) due June 2nd, 2025, (the “Bonds”), offered to qualified investors only, for a nominal amount of approximately €170 million (the “Offering”).

Proceeds of the Neoen’s green convertible bonds will be allocated to finance or refinance renewable energy production (solar PV, wind power) or storage activities in consistency with EU taxonomy requirements and with the Framework available on Neoen website. It will thus contribute to finance growth towards Neoen’s target of having more than 5 GW in capacity in operation or under construction by the end of 2021, while optimizing balance sheet within the guidelines given by the Company regarding an average leverage ratio of approximately 80-85% of invested capital on an all-in basis including all Group debt, whether corporate, junior or senior.

Xavier Barbaro, Chairman and CEO of Neoen, comments: “The strong success of this first ever green convertible bond in Europe further reinforces Neoen’s role as a responsible player in the field of renewable energies and a pioneer in sustainable finance. This green convertible bond issuance has been concluded under very favorable conditions both for Neoen and our shareholders. It has also provided a new opportunity for investors to participate actively alongside us in the global combat against greenhouse gas emissions and climate change.”