Accentro Real Estate AG / DE000A0KFKB3

Berlin, 25 July 2025 – Upon reaching an agreement on the last outstanding commercial points of the restructuring concept agreed between Accentro and the so-called Ad Hoc Group, confirmed by a draft restructuring opinion in accordance with the IDW S6 standard, the Management Board today approved the final version of the lock-up agreement (including a term sheet setting out the key parameters of the restructuring concept being substantially in the form as announced on 29 March 2025) and the final version of the restructuring plan. Against this background, the Management Board will submit the restructuring plan to the competent restructuring court in Berlin today in accordance with the German Corporate Stabilization and Restructuring Act (StaRUG) and request a discussion and voting meeting (Erörterungs- und Abstimmungstermin). Based on the final business plan, Accentro will, following the confirmation of the restructuring plan, issue EUR 77 Mio. New Super Senior Bonds with a cash interest rate of 10% per annum and a maturity on 31 December 2027 (unless previously redeemed) to refinance the bridge bonds, provide additional operating liquidity and pay transaction costs. Accentro may elect not to pay interest in cash but pay in kind by increasing the principal outstanding amount of the New Super Senior Bonds. Accentro expects that a holder of 2020/2026 bonds will have the right to subscribe for one New Super Senior Note for each 469 2020/2026 bonds owned by such holder and a holder of 2020/2029 will have the right to subscribe for one New Super Senior Bond for each 5 2021/2029 bonds owned by such holder. In addition, each New Super Senior Bond will entitle each holder of the 2020/2026 bonds to acquire 319 new shares in Accentro by way of a cash capital increase excluding the subscription rights of all shareholders except ADLER. Assuming an implementation by 30 September 2025 the respective outstanding principal amount of the 2020/2026 bond and the 2021/2029 bond (together the outstanding bonds) will be divided in a ratio of 32.68 % to 67.32 % senior secured principal each with a term until 30 September 2029 and unsecured deeply subordinated principal each with a term until 30 December 2034, whereas in case implementation occurs later, interest accruing after 30 September 2025 will only increase each unsecured deeply subordinated principal. The New Super Senior Bonds and the outstanding bonds will provide for the following cumulative mandatory redemption concept: In line with the current term of the Outstanding Bonds, ACCENTRO will be required to make early redemptions of the New Super Senior Bonds and the outstanding existing bonds from the net proceeds of investment property sales as well as the realisation of certain receivables, subject to certain thresholds and maintenance of the minimum liquidity requirement outlined in the restructuring opinion. Available proceeds will be applied for redemptions on the New Super Senior Bonds on certain dates of each calendar year plus a certain minimum return requirement resulting in a total return on invested capital of 110% for redemptions made after the first six months, 120% for redemptions made after 12 months, 130% for redemptions made after 18 months, 140% for redemptions made after 24 months and 145% for redemptions made thereafter. Redemption payments on the senior secured principal amount of the Outstanding Bonds may only be made once the New Super Senior Bonds (and any minimum return requirement thereon) have been paid in full. There will be no requirement to make mandatory redemptions on the unsecured deeply subordinated principal amount of the Outstanding Bonds. Pursuant to the restructuring plan, subject to the condition subsequent (auflösende Bedingung) that the relevant debt and equity measures contemplated by the restructuring plan (including the delivery of New Super Senior Bonds) are implemented by no later than 31 December 2025, the bondholders declare to waive any potential repayment and acceleration rights and to not seriously demand (nicht ernsthaft einfordern) payment of any amounts becoming due under the existing bonds after 30 September 2025. Regarding all other aspects, the restructuring plan essentially provides for the creation of the equity and debt capital structure as already published with the announcement dated 29 March 2025. In addition, the restructuring plan provides for the discharge of the current members of the Supervisory Board and the appointment of Lenny Lionel Michel, Paul Sisak as well as Dr. Nedim Cen to the Supervisory Board.
Notifying person: Thomas Eisenlohr, Head of Investor Relations
Phone: +49 (0)30 887181272
eisenlohr@accentro.de
Berlin, 25 July 2025 The Management Board
Accentro Real Estate AG
Kantstrasse 44/45
D-10625 Berlin ISIN: DE000A0KFKB3 / DE000A3H3D51 / DE000A254YS5 Stock exchanges: Frankfurt Stock Exchange, regulated market (Prime Standard) / Luxembourg Stock Exchange