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SPIE successfully completes the refinancing of its ORNANEs due January 2028, further strengthening financial flexibility

GlobeNewswire

Cergy, October 20, 2026 – SPIE (the “Company”), the independent European leader in multi-technical services in the areas of energy and communications, announces the successful completion of the refinancing of its outstanding sustainability-linked bonds settled in cash and/or convertible into new shares and/or exchangeable for existing shares due January 2028 (FR001400F2K3) (the “ORNANEs 2028”).

On September 21, 2026, SPIE successfully placed a €500 million sustainability-linked bond with a 5.5-year maturity and a 4.875% coupon in a challenging debt environment. The proceeds of the new bond were used in particular to redeem the ORNANEs 2028. Following completion of the refinancing, SPIE's liquidity exceeds €1.5 billion, providing ample financial flexibility to support future growth opportunities while maintaining a strong and disciplined financial profile.

Jérôme Vanhove, CFO of SPIE, said: "The successful placement of our €500 million sustainability-linked bond in a challenging debt environment reflects SPIE's solid credit profile and continued access to debt capital markets. This enabled us to opportunistically complete the early redemption of our ORNANEs ahead of maturity. Together, these transactions further strengthen our balance sheet, extend our debt maturity profile and enhance our financial flexibility, providing a solid foundation to support SPIE's long-term development."

Detailed information on the redemption of the ORNANEs 2028

On January 17, 2023, the Company issued 4,000 ORNANEs 2028, each with a principal amount of 100,000 euros. Following (i) the exercise of the conversion/exchange rights attached to 126 ORNANEs 2028 in July and August 2026 which resulted in the issuance of 132,106 new Company shares and a cash payment of c.12 million euros and (ii) the repurchase in cash of 2,801 ORNANEs 2028 in the context of a tender offer conducted on September 22, 2026 for c.388 million euros (the “Repurchase”), 1,073 ORNANEs 2028 remained outstanding after the settlement of the Repurchase.

Following SPIE’s announcement to redeem early for cash the remaining ORNANEs 2028, all holders have decided to exercise their conversion/exchange right, which resulted in the issuance of 3,365,843 new Company shares.

As of the date of this press release, no ORNANE 2028 remains outstanding. The total dilution resulting from the issuance of new Company shares as a result of the conversion/exchange of ORNANEs 2028 amounts to 2.0% of the share capital.

About SPIE

SPIE is the independent European leader in multi-technical services in the areas of energy and communications. With 55,000 employees, SPIE works alongside its customers to drive the energy, digital and industrial transitions. As a key player in decarbonisation, the Group delivers efficient and innovative solutions across the economy.

SPIE Group achieved in 2025 consolidated revenue of €10.4 billion and consolidated EBITA of €793 million.

www.spie.com
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