Commentary & Deal Flow

HIME SAS (SAUR), rated BB+ (stable) by S&P / BB+ (stable) by Fitch, a leading sustainable water pure player, has mandated BNP Paribas, HSBC, Morgan Stanley and Natixis as jt glocos and jt books, and Crédit Agricole CIB and Rabobank as passive books to arrange a series of investor calls on Monday 22nd September. A €500m (WNG) Long 5yr (Jan 2031) Fixed Rate, Senior Unsecured Reg S, Blue Bond offering may follow, subject to market conditions.

FCA/ICMA stabilisation applies. Manufacturer target market (EU MIFID II and UK MIFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EU or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA or the UK.

An amount equivalent to the net proceeds from the issuance of the Notes will be used to finance and/or refinance, in whole or in part, new or existing Eligible Blue Projects as further described in the Saur’s Green & Blue Financing Framework (available on the following website: https://www.saur.com/investors). The net proceeds from the issuance of the Notes will be applied, in whole or in part, to (i) fund a tender offer on the Existing 2027 Notes; (ii) to pay costs, fees and expenses in connection with the tender offer on the Existing 2027 Notes and (iii) for general corporate purposes.

Natixis is acting as ESG Coordinator.

In addition, Saur has also announced today an any and all Tender offer on its €300,000,000 4.500% Sustainability Linked Senior Notes due April 2027 (ISIN XS2608828641), subject to conditions set out in a Tender Offer Memorandum dated 22nd September 2025. The Tender offer will expire on 29th September 2025.

BNP Paribas, HSBC, Morgan Stanley and Natixis are acting as Dealer Managers on the Tender offer. This announcement and the Tender Offer Memorandum are not for distribution, directly or indirectly, in or into or to any person located or resident in the United States.