News Release from PNE AG

Wind Industry Profile of

PNE AG

06/08/2022

PNE AG: Subscription period for the new bond 2022/2027 starts today

Target volume of euro 50 million and a term of 5 years / Subscription opportunity expected to last until June 15 (2:00 p.m.) 2022 / Exchange offer to holders of the 2018/2023 bond and public offer / Coupon range for pricing from 4.500 to 5.250% / Improving the financing structure and financing further growth

At PNE AG, a leading international developer and operator of renewable energy power plants with a listing in the Prime Standard of the German Stock Exchange, the subscription period for the new corporate bond 2022/2027 (ISIN DE000A30VJW3) with a target volume of EUR 50 million (with an option to increase), a five-year term and a coupon of between 4.500-5.250% starts today. Subscription is possible from a nominal amount of euro 1,000.00 until June 15, 2022, 2:00 p.m. (CEST) – subject to early closing – via banks and online brokers on the Frankfurt Stock Exchange.

The final interest rate and total nominal amount of the new 2022/2027 bonds are expected to be determined on June 15, 2022 based on the subscription orders received in the offer and will be published in an interest rate and volume fixing announcement. A listing in the Open Market (Freiverkehr) of the Frankfurt Stock Exchange (Quotation Board) is planned for June 23, 2022.

From May 23, 2022 until June 13, 2022 (10:00 a.m. CEST), holders of the PNE bond 2018/2023 have the opportunity to exchange their bonds for the new bond 2022/2027 and to purchase additional units of the new bond via a multiple purchase option.

Markus Lesser, Chairman of the Board of Management of PNE AG, summarises the discussions to date: "Despite the challenging market environment, we received very positive feedback from our existing investors and institutional investors during the roadshow. In particular, they appreciate the good secondary market performance of the previous bond and our reputation as a reliable and transparent bond issuer. By expanding our business model to include power generation through the development of our own portfolio, we are also stabilising our cash flows, making our business even more stable and predictable."

The main objective of this measure is the early refinancing of the 2018/2023 bonds due on May 2, 2023. In addition, the proceeds serve to finance the organic and inorganic growth of PNE AG.

2022/2027 bond key data

Issuer:	PNE AG
Target volume:	euro 50,000,000 (with option to increase)
ISIN / WKN:	DE000A30VJW3 / A30VJW
Coupon:	coupon within coupon range 4.500% to 5.250%, determination of coupon during offer period
Issue price	100%
Denomination/units:	euro 1,000
Period for exchange offer:	May 23 to June 13, 2022 (10 a.m. CEST) subject to early closing
Period for multiple-purchase option:	May 23 to June 13, 2022 (10 a.m. CEST) subject to early closing
Subscription period:	June 7 to June 15, 2022 (2 p.m. CEST) subject to early closing
Value date:	June 23, 2022
Term:	5 years
Repayment:	at 100% of the nominal amount
Status:	direct, unsecured and unsubordinated
Early repayment:	issuer's call right after year 3 at 101% and after year 4 at 100.5% of the nominal amount, tax call, clean-up call
Covenants:	change of control, third-party default, negative pledge for capital market liabilities, compliance with minimum equity ratio (adjusted for hidden reserves): <20% (coupon step-up by 0.50% points); for details, please see the bond terms
Stock exchange segment:	open market of the Frankfurt Stock Exchange (Quotation Board)
Sole Lead Manager:	IKB Deutsche Industriebank AG

Disclaimer: This media information does not constitute an offer of securities. Information on the new corporate bond 2022/2027 and the exchange offer is contained in the securities prospectus approved by the Commission de Surveillance du Secteur Financier ("CSSF"), which has been published on the website of PNE AG (https://ir.pne-ag.com/anleihen), the Frankfurt Stock Exchange (www.boerse-frankfurt.de) and the Luxembourg Stock Exchange (www.bourse.lu) after its approval. An investment decision regarding the corporate bond 2022/2027 and the exchange offer may only be made on the basis of the approved securities prospectus. The approval of the securities prospectus by the CSSF does not constitute an endorsement of the issuer and the quality of the corporate bond.