COMMUNIQUÉ DE PRESSE

par FRANCAISE ENERGIE (EPA:FDE)

FDE issues a new EUR 60 million green bond to develop its low-carbon energy production in Norway and Europe

Pontpierre, France, 01 May 2024 - FDE (Euronext: FDE - ISIN: FR0013030152), a carbon-negative energy producer, is proud to announce the issue of a third green bond to finance the development of its low-carbon energy portfolio in Norway and Europe. Following the success of its previous bond issues, the financing was provided by its long-term partner, Edmond de Rothschild Asset Management (EDRAM), a leading energy and infrastructure investment fund.

Major funding to support the development of new production sites in Europe

This green bond will finance the Group's portfolio of existing energy solutions, and more specifically its deployment of cogeneration and solar farms in France and Belgium, as well as its promising LBG and Bio-CO2 projects in France and Norway.

The financing amounts to €60 million in three equal tranches of €20 million each, the first of which will be drawn down by 31 December 2024. The issue is being underwritten by BRIDGE, the infrastructure debt platform of EDRAM, a long-standing partner of FDE. This financing qualifies as a "green bond" and the issue has been valued in accordance with the principles applicable to Green Bonds of the ICMA (International Capital Market Association) via an opinion from EthiFinance, a recognized independent expert.

Thanks to FDE's excellent existing cash flow generation, the strength of its balance sheet and the robustness of the business model of the various projects qualifying for this green bond, this debt instrument is classified as Investment Grade and therefore benefits from attractive rates over the 7-year term of the financing.

This gives FDE the financial resources it needs to support and accelerate its development strategy and achieve all its objectives for 2026 and the longer-term targets to be announced at the Investor Day on 30 May 2024.

A growth plan accelerating from the second half of 2024

FDE is continuing its organic growth with the installation of four additional cogeneration plants in Hauts-de-France over the coming months, and is pursuing its photovoltaic development in France and Norway, in order to rapidly reach its target of 100 MW of installed capacity.

FDE is also continuing its development in Norway with the launch of three projects to produce LBG and biogenic CO2, for which the Group is awaiting the level of financial support to be granted by the Norwegian Agency for Ecological Transition, while at the same time moving ahead with the installation of a major 20 MW green hydrogen production site, dedicated to the maritime industry, at Agder in Norway.

The completion of these main projects will make a major contribution in making FDE a leading independent European operator dedicated to carbon neutrality.

A long-term partnership dedicated to the development of low-carbon energy production

"The placement of this new green bond demonstrates Edmond de Rothschild Asset Management's confidence in FDE and its ability to achieve growth and profitability targets over the medium and long term. This transaction will enable the Group to finance all its current and future low-carbon projects in Norway and Europe and should facilitate the deployment of new energy production sites. We are extremely proud of the success of the long-term collaboration we have developed with Edmond de Rothschild Asset Management and would like to thank them for their ongoing support," says Julien Moulin, Chairman of FDE.

Jean-Francis Dusch, Managing Director of EDRAM UK, Investment Director of BRIDGE and Global Head of Infrastructure, Real Assets & Structured Finance said: "EDRAM is very proud to renew its support for FDE, an emerging leader in low carbon energy solutions in Europe. This support is a further illustration of BRIDGE's commitment to tangible, sustainable solutions that have a positive impact on the energy transition.

LPA-CGR is acting as legal advisor to FDE, and BENTAM as legal advisor to EDRAM.

FDE confirms its objectives for 2026, with annualized sales in excess of €100 million, EBITDA of over €50 million, combined with more than 10 million tonnes of CO2eq emissions avoided per year.

Next event:

Investor Day, 30 May 2024 at 2.30pm

Annual sales 2024, 23 July 2024



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