Commentary & Deal Flow

Sodexo SA, a global leader in Food Services, (ticker: "SWFP", country: France) rated Baa1 (negative) by Moody's, BBB (stable) by S&P and BBB+ (negative) by Fitch, has mandated BNP Paribas and ING as Global Coordinators along with CIC CIB, Goldman Sachs Bank Europe SE, Natixis and Société Générale as Active Bookrunners to arrange a series of fixed income investor calls to be scheduled on 24-25-Aug. An electronic investor presentation will be made available. BNP Paribas and ING will be coordinating logistics.

An expected dual-tranche €500m 6-year and €500m 10-year, Reg S Bearer (Cat 2), Senior Unsecured € offering will follow, subject to market conditions.

DealRoadshow Information:
www.netroadshow.com/nrs/home/#!/?show=dccbc9ed OR
Visit www.netroadshow.com and enter the deal entry code: Sodexo26

• Marketing: Finishing today
• Execution: As early as tomorrow, subject to market conditions
• Expected Instrument Ratings: Baa1 by Moody's and BBB by S&P
• IOIs / Feedback: Please continue to relay IOIs / feedback to the syndicate desk / sales
• Documentation: Standalone documentation, Euronext Paris listing