Solvay SA (“Solvay” or the “Company”) announced today that it has launched consent solicitation exercises (the “Consent Solicitations”) in relation to its

€500,000,000 Undated Deeply Subordinated Fixed to Reset Rate Perp-NC5.5 Bonds with first call date on 2 December 2025 (ISIN: BE6324000858),
€500,000,000 2.750 per cent. Fixed Rate Bonds due 2 December 2027 (ISIN: BE6282460615), and
€600,000,000 0.500 per cent. Fixed Rate Bonds due 6 September 2029 (ISIN: BE6315847804)
(together the “Bonds”)

in connection with the planned separation of Solvay into two independent publicly traded companies and industry leaders, Specialty Holdco Belgium (“SpecialtyCo”, expected to be renamed “Syensqo”) and EssentialCo (which will keep the Solvay name), that is intended to take place by means of a partial demerger of Solvay under Belgian Law (the “Partial Demerger”).

The purpose of the Consent Solicitations is to invite eligible holders of the Bonds to consider and, if thought fit, approve (i) the substitution of SpecialtyCo in place of Solvay in respect of each series of the Bonds and (ii), in respect of certain series of the Bonds, certain modifications to the conditions of the Bonds, all as further described in the Consent Solicitation Memorandum dated 4 August 2023. The Bondholders’ meetings will be held on 5 September 2023 at the offices of Solvay at Rue de Ransbeek, 310 1120 Brussels, Belgium. The convening notice to the Bondholders’ meetings is available at https://www.solvay.com/en/investors/cre ... ry-leaders.

In addition, holders of the outstanding €500,000,000 Undated Deeply Subordinated Fixed to Reset Rate Bonds with first optional redemption date of 3 June 2024 (ISIN: XS1323897725) issued by Solvay Finance and irrevocably guaranteed on a subordinated basis by Solvay are invited to tender any-and-all of their holdings for cash, subject to the conditions described in the Tender Offer Memorandum dated 4 August 2023 (the “Tender Offer”).