Noteholder voting 2017/2023 Notes

On 16 June 2023, the 2nd noteholders’ meeting of Metalcorp Group S.A. (the “Company” and together with its subsidiaries the “Metalcorp Group”) resolved in Frankfurt am Main with the required qualified majority of votes cast to exchange the notes for purchase rights to (i) one new note against payment of an issue amount and (ii) three new notes without payment of an issue amount (approval of 96.83%), to adjust the interest rate and the interest period (approval of 97.51%), to extend the maturity of the notes until 31 December 2023, to delete the provisions on early partial redemptions without replacement and to waive the corresponding termination rights (approval of 96.83%) as well as to delete the original proposal to pledge shares in BAGR Non-Ferrous Group GmbH (approval of 95.08%). Of the outstanding bonds with voting rights with a nominal value of EUR 69.885 million, bonds with a nominal value of EUR 25.175 million were represented, which corresponded to a presence of 36.02% and was thus significantly above the required quorum of at least 25%.

With the resolutions, the first essential conditions for a consensual restructuring and recapitalization of the Company as well as the Metalcorp Group (the “transaction”) have been met. The next step will be a voting of the bondholders of the bond 2021/2026 (ISIN: DE000A3KRAP3) on the same proposed resolutions. The Transaction is expected to be completed as soon as possible, if possible before August 2023.

Payment of the participation fee will be made after the resolutions of the noteholders’ meeting have become effective, presumably in August 2023.