Debt

9% step-up cash interest + 4% adjusted redemption premium.

5 years - December 2029.

The 1L Bonds include the following security:

• first-ranking security over collateral assets;
• pari passu with 1L Bank financings under the Intercreditor Agreement;
• senior ranking over (i) 1.5L Financings and (ii) 2L Bank Financings under the Intercreditor Agreement.

In particular, in the event of asset disposals, mandatory prepayment in accordance with the distribution waterfall set out in the Accelerated Safeguard Plan, subject to specific provisions of the 1L Bonds and/or Intercreditor Agreement.

5.0% step-up cash interest + 4% adjusted redemption premium.

6 years - December 2030, with bullet repayment at maturity.

The 1.5L Bonds include the following security:

• intermediate-ranking (1.5 lien) security over collateral assets;
• senior secured over 2L Financings; pari passu with 1.5L Financings; and subordinated, except as otherwise provided, to 1L Financing under the Intercreditor Agreement.

In particular, in the event of asset disposals, mandatory prepayment in accordance with the distribution waterfall set out in the Accelerated Safeguard Plan, subject to specific provisions of the 1.5L Bonds and/or Intercreditor Agreement.

1% step-up cash interest + 4% adjusted redemption premium.

8 years - December 2032, with bullet repayment at maturity.

The 2L Bonds include the following security:

• subordinated-ranking (2nd lien) security over collateral assets;
• pari passu with 2L Financings; subordinated to (i) 1L Financings and (ii) 1.5L Financings under the Intercreditor Agreement.

In particular, in the event of asset disposals, mandatory prepayment in accordance with the distribution waterfall set out in the Accelerated Safeguard Plan, subject to specific provisions of the 2L Bonds and/or Intercreditor Agreement.

Term Loan: 9% cash interest + 4% PIK interest.

RCF: Euribor (0% floor) + 6.60% plus 35% commitment fee on margin.

5 years - December 2029.

The 1L financings include the following security:

• first-ranking security over collateral assets;
• pari passu with 1L Bondholders financings under the Intercreditor Agreement;
• senior secured status over (i) 1.5L Financings, (ii) 2L creditors under the Intercreditor Agreement.

In particular, in the event of asset disposals, mandatory prepayment in accordance with the distribution waterfall set out in the Accelerated Safeguard Plan, subject to specific provisions of the 1L Term Loan, 1L RCF, 1L EPS Line and/or applicable Intercreditor Agreement.

The Company must ensure that:

• total amounts drawn under the RCF do not exceed €340 million for a period of at least four consecutive weeks between December 1st of a year (starting December 1, 2025) and January 31st of the following year, and for a period of at least four consecutive weeks between June 1st and July 31st of each year (starting June 1, 2026);
• total amounts drawn under the RCF do not exceed €190 million for a period of at least fourteen (14) consecutive days during each Clean Down.

Commitment fee: 1.225% of the unused amount of the EPS line.

Risk fee: 3.5% of the amount of guarantees issued, payable in advance, in cash, per indivisible quarter.

Euribor (0% floor) + 2.6% cash interest + 2.0% PIK interest.

6 years - December 2030, with bullet repayment at maturity.

The 1.5L Term Loan includes the following security:

• intermediate-ranking (1.5 lien) security over collateral assets;
• senior secured over 2L Financings; pari passu with 1.5L Financings; and subordinated, except as otherwise provided, to 1L Financing under the Intercreditor Agreement.

In particular, in the event of asset disposals, mandatory prepayment in accordance with the distribution waterfall set out in the Accelerated Safeguard Plan, subject to specific provisions of the 1.5L Term Loan and/or Intercreditor Agreement.

1% cash interest + 4% PIK interest.

8 years - December 2032, with bullet repayment at maturity.

The 2L Term Loan includes the following security:

• subordinated-ranking (2nd lien) security over collateral assets;
• pari passu with 2L Financings; subordinated to (i) 1L Financings and (ii) 1.5L Financings under the Intercreditor Agreement.

In particular, in the event of asset disposals, mandatory prepayment in accordance with the distribution waterfall set out in the Accelerated Safeguard Plan, subject to specific provisions of the 2L Term Loan and/or Intercreditor Agreement.