Adler Group S.A. realises synergies and further simplifies its group structure

• Redemption of EUR 450m high yield bond issued by Consus
• WACD to reduce to 2.2% and leading to realisation of further EUR 33m of annualised financial synergies
• WESTGRUND squeeze out expected to be completed in second half of 2021

Berlin, 5 May 2021 - Consus Real Estate AG ("Consus"), fully consolidated subsidiary of Adler Group S.A. ("Adler Group"), has announced yesterday that it will redeem all of its EUR 450m 9.625% senior secured notes due 2024 (the "Notes") at the redemption price of 104.813%. The redemption date for the Notes will be on 15 May 2021. The Notes will be repaid with the proceeds from the recent bond issuance of Adler Group.

This refinancing will enable Adler Group to reduce its weighted average cost of debt to 2.2% and realise further EUR 33m of annualised financial synergies.

The redemption of the Notes, together with the squeeze out of minority shareholders of WESTGRUND Aktiengesellschaft which is expected to be completed in the second half of 2021, mark an important milestone on the way to further simplify and harmonise the group structure.

Contact:

Investor Relations
T +352 278 456 710
F +352 203 015 00
E [email protected]