PRESS RELEASE: BIGBEN ANNOUNCES IMPORTANT INFORMATION REGARDING THE PARTIAL REPAYMENT OF ITS BOND LOAN

 Press Release
Lesquin, 17 February 2026, 20.30 pm

BIGBEN ANNOUNCES IMPORTANT INFORMATION REGARDING THE PARTIAL REPAYMENT OF ITS BOND LOAN

It should be noted that on 12 February 2021, the Company issued a bond loan in the form of senior bonds conditionally guaranteed and exchangeable into Nacon existing ordinary shares, for an amount of €87.3 million (the ‘Bonds’), maturing on 19 February 2026 (the ‘Maturity Date’). To date, the outstanding amount of the Bonds still in circulation totals €59.1 million euros (the ‘Outstanding Amount of the Bonds’).

On 24 November 2025, the Company announced that it had obtained a refinancing agreement for the Outstanding Bonds from a banking pool composed of leading French banks for a total amount of €43 million through the implementation of a credit contract, repayable over a period of 6 years (the "Partial Refinancing"). Given the Partial Refinancing, the balance of the Outstanding Bonds, not refinanced, amounted to a total of approximately €16.1 million (the "Non-Refinanced Residual Balance").

In this regard, on 5 December 2025, the Company announced it would initiate discussions with the bondholders.

The general meeting of bondholders held on 2 February 2026, approved all proposed amendments to the terms of the Bonds by a very large majority. The arrangement notably provides for a partial repayment of €75 000 per Bond (i.e., a total amount of approximately €43 million - the "Partial Repayment"), reducing the unit nominal amount of each Bond from €100 000 to €28 000; the Maturity Date of the Non-Refinanced Residual Balance (€16.1 million) is, for its part, postponed to 19 August 2032.

On 13 February 2026, late in the afternoon, i.e., four business days before the Maturity Date, the banking pool informed the Company of its refusal to honor the drawdown notice that had been sent to it by the Company in connection with the Refinancing, claiming that it could invoke a breach by the Company for an obligation to provide information stipulated in the credit contract. The Company strongly disputes this legal analysis of the contract and reserves all its rights in this regard.

As a direct consequence of this unexpected refusal by the banking pool, the Company is currently unable to meet the Partial Repayment on the Maturity Date.

In light of this situation, the Company is considering requesting a deferral of the Partial Repayment due date from the Bondholders. The Company is also examining the possibility of resorting to procedures designed to facilitate the restructuring of its debt under the supervision of the commercial court.

The Board of Directors and Executive Management are fully committed to securing a solution that aligns with the interests of the Company, its employees, partners, and investors; the Company is committed to informing the market of any significant developments in this situation as soon as possible.

Attachment

• Bigben CP 17 02 2026 Diffusion English version