Following the filing on January 2, 2025 by Brookfield Renewable Holdings SAS ("Brookfield") of a mandatory simplified tender offer for the Neoen shares, the OCEANEs issued in 2020 (the "2020 OCEANEs") and the OCEANEs issued in 2022 (the "2022 OCEANEs") with the French financial markets' authority (Autorité des Marchés Financiers, the "AMF")1, Brookfield announces that it has decided to increase the price offered for the 2022 OCEANEs from EUR 101,382.00 to EUR 105,000.002.
The price offered for the Neoen shares of EUR 39.85 and for the 2020 OCEANEs of EUR 48.14 remains unchanged. Brookfield will file with the AMF an updated draft offer document reflecting the improved price for the 2022 OCEANEs.
Finexsi3, acting as independent expert appointed by Neoen, will issue an updated version of its report based on which the ad hoc committee will issue its recommendation for the board of directors of Neoen4.
The updated version of Finexsi's report and the revised reasoned opinion of Neoen's board of directors will be included in the updated draft response document which will be filed by Neoen with the AMF.
Brookfield holds, directly and indirectly, alone and in concert5, and by assimilation, 103,464,986 shares (i.e. 67.69% of the share capital and theoretical voting rights of Neoen) and 1,103,895 2020 OCEANEs (i.e. 30% of the 2020 OCEANEs). Brookfield does not hold any 2022 OCEANEs.
The updated draft offer document will be available on the website of Brookfield Renewable Holdings (www.neoen-offer-brookfield.com) and the updated draft response document will be available on the websites of Neoen (www.neoen.com). These documents will also be available on the website of the AMF (www.amf-france.org).
The proposed mandatory simplified tender offer initiated by Brookfield Renewable Holdings SAS remains subject to review by the AMF.