Press release Renewal of an equity financing line to strengthen the Company’s financial flexibility La Motte-Fanjas (France), April 14, 2020 – 7:45 am CEST – McPhy (Euronext Paris Compartment C: MCPHY, FR0011742329), a specialist in hydrogen production and distribution equipment, today announces the renewal of an equity financing line with Kepler Cheuvreux. CEO Laurent Carme, acting upon delegation of the Board of Directors, has decided to renew a financing line. The operation will be carried out on the basis of (i) the existing delegations of power granted by the Shareholders’ Meeting of June 26, 2018 (17th resolution), limited to 1,000,000 shares, and (ii) any other decision or delegation of powers agreed by any Shareholders’ Meeting convened after the signing of the contract, limited to 2,500,000 shares. In accordance with the terms of the agreement, Kepler Cheuvreux has pledged to subscribe to a maximum of 3,500,000 shares (representing, for information purposes, an issued amount of €18.3 million1), on its own initiative, over a maximum timeframe of 24 months, subject to contractual conditions being satisfied. The shares will be issued on the basis of a volume-weighted average share price over the two trading days prior to each issue, minus a maximum discount of 5%. These conditions allow Kepler Cheuvreux to guarantee the share subscription over time, as part of a firm commitment. McPhy retains the option of suspending or terminating this agreement at any time. Assuming full drawdown of this financing line, a shareholder with a 1.00% stake in McPhy prior to its implementation would see its stake reduced to 0.84%, on an undiluted basis2. The number of shares issued under this agreement and admitted for trading will be the subject of a Euronext notice and a press release on McPhy’s website. This issue will not be subject to a prospectus requiring a visa from the AMF French stock market authority. Upcoming events About McPhy CONTACTS Follow us on @McPhyEnergy 1 Based on the closing share price of April 9, 2020 (i.e. €5.23).2 Based on 17,731,800 shares comprising the Company’s share capital at March 31, 2020.
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