Canal+ Regulatory News (CAN)

Press release

CANAL+ (LSE : CAN)Issy-les-Moulineaux, 21 November 2025

CANAL+ SA INAUGURAL BOND TRANSACTION

CANAL+ SA ("Canal+"), a leading global media and entertainment company with 40 million subscribers in over 70 countries, announces today that it has mandated BNP Paribas, BofA Securities, Crédit Agricole CIB, JP Morgan and Société Générale as Joint Global Coordinators and Barclays, HSBC, IMI - Intesa Sanpaolo and ING as Joint Active Bookrunners to arrange a series of fixed-income investor calls starting on 24 November 2025.

A pre-recorded investor presentation (with voiceover) will also be made available.

Subject to market conditions, a senior unsecured bond offering with a 5-year maturity may follow.

The net proceeds of the issuance of the note (the "Notes") would be used by Canal+ for general corporate purposes including the refinancing of part of the outstanding €1,461 million amount of the Bridge Facility, which was entered into to secure the financing of the acquisition of the MCG shares, and on which some of the Global Coordinators and Joint Bookrunners are lenders.

This communication is an advertisement. The Final Information Memorandum, when published, will be available on the website of the issuer https://www.canalplusgroup.com/en and on the Luxembourg Stock Exchange website at: http://www.bourse.lu.

Disclaimer

This press release, and the information contained therein, does not constitute an offer or solicitation to purchase or subscribe for the Notes in the United States, Canada, Australia, Japan, or in any other state or jurisdiction where such an offer or solicitation would be unlawful, including in the absence of registration or approval under the laws of that state or jurisdiction.

The offer and subscription of the Notes may be subject in certain countries to specific legal or regulatory restrictions; Canal+ accepts no liability for any breach by any person of these restrictions.

This press release constitutes a communication of a promotional nature but does not constitute a prospectus within the meaning of Regulation 2017/1129, as amended (the "Prospectus Regulation"). The distribution of this press release may, in certain countries, be subject to specific regulations. Persons in possession of this document are required to inform themselves of any local restrictions and to comply with them. Canal+ accepts no responsibility towards any person in connection with the distribution of this press release or the information contained therein in any country.

European Economic Area. The Notes may not be and have not been offered to the public in any Member State of the European Economic Area ("EEA") (each a "Relevant State"), except in accordance with the derogations provided for in Article 1(4) of the Prospectus Regulation. No action has been or will be taken to permit an offer to the public of the Notes other than to qualified investors in a Relevant State.

PRIIPS REGULATION /PROHIBITION OF SALES TO EEA RETAIL INVESTORS - The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to, any retail investor in the EEA. For these purposes, a retail investor means a person who is one (or both) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive (EU) No 2014/65 (as amended, "MiFID II"); or (ii) a customer within the meaning of Directive (EU) No 2016/97 dated 20 January 2016 on insurance distribution, as amended (the "Insurance Distribution Directive"), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPS Regulation.

MiFID II product governance / target market - The information memorandum for the Notes contains a legend entitled "MiFID II product governance / professional investors and eligible counterparties only target market" describing the target market assessment with respect to the Notes and the appropriate distribution channels for the Notes. Any person subsequently offering, selling or recommending the Notes (a "Distributor") must consider the target market assessment; a Distributor subject to MiFID II is responsible for conducting its own target market assessment with respect to the Notes (by adopting or refining the target market assessment) and determining appropriate distribution channels.

This investment restriction is in addition to the other investment restrictions applicable in each Relevant State.

UK PRIIPS REGULATION / PROHIBITION OF SALES TO UNITED KINGDOM RETAIL INVESTORS. This press release is intended only for persons who (i) are located outside the United Kingdom, (ii) are "investment professionals" within the meaning of section 19(5) of the Order), (iii) are referred to in section 49(2) (a) to (d) (high-equity companies, non-registered associations, etc.) of the Order, or (iv) are persons to whom an invitation or inducement is directed to be undertaken in investment activities (within the meaning of Section 21 of the FSMA in connection with the issue or sale of the Notes, may be lawfully disclosed (the persons referred to in paragraphs (i), (ii), (iii) and (iv) together being referred to as the "Authorised Persons"). The Notes are only intended for Authorised Persons and any invitation, offer or contact relating to the subscription, purchase or acquisition of the Notes may only be addressed or entered into with Authorised Persons. Any person other than an Authorised Person shall refrain from using or relying on this press release and the information contained therein.

This press release does not constitute a prospectus and has not been approved by the Financial Conduct Authority or any other regulatory authority in the United Kingdom within the meaning of Section 85 of the FSMA.

The Notes are not intended to be offered, sold or otherwise made available and, from that date, shall not be offered, sold or otherwise made available to a retail investor in the United Kingdom. For these purposes, a retail investor means a person having one or more of these qualities: (i) a retail client as defined in Article 2(8) of Regulation (EU) No 2017/565 as part of domestic law under the EUWA; or (ii) a client as defined in the FSMA and any rules or regulations made under the FSMA to implement the Insurance Distribution Directive, where that client would not be qualified as a retail investor professional client within the meaning of Article 2(1)(8) of Regulation (EU) No 600/2014 as it forms part of national law under the EUWA. Consequently, no key information document required by Regulation (EU) No 1286/2014 as it forms part of UK domestic law by virtue of the EUWA (the "UK PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.

UK MiFIR product governance / target market - The information memorandum for the Notes contains a legend entitled "UK MiFIR product governance / professional clients and eligible counterparties only target market" describing the target market assessment with respect to the Notes and the appropriate distribution channels for the Notes. Any person subsequently offering, selling or recommending the Notes (a "Distributor") must consider the target market assessment; a Distributor subject to the FCA Handbook Product Intervention and Product Governance Sourcebook (the "UK MiFIR Product Governance Rules") is responsible for conducting its own target market assessment with respect to the Notes (by adopting or refining the target market assessment) and determining appropriate distribution channels.

United States. This press release may not be published, distributed or transmitted in the United States (or in its territories and dependencies, its constituent states or the District of Columbia). This announcement does not constitute a solicitation to purchase or an offer to purchase or subscribe for the Notes in the United States. The Notes have not been and will not be registered under the "U.S Securities Act of 1933", as amended (the "Securities Act") and may only be offered or sold in the United States in accordance with an exemption regime under the Securities Act. The Notes will only be offered or sold outside the United States within the meaning and in accordance with "Regulation S" of the Securities Act.

ABOUT CANAL+

Founded as a French subscription-TV channel 40 years ago, CANAL+ is now a global media and entertainment company. On 22 September 2025, CANAL+ confirmed it is in effective control of MultiChoice Group and beginning the integration process. MultiChoice is Africa's leading entertainment platform, offering a wide range of products and services, including DStv, GOtv, Showmax, M-Net, SuperSport, Irdeto, and KingMakers. Together, the new combined group has 40 million subscribers worldwide, operates in over 70 countries and has approximately 17,000 employees.

CANAL+ operates across the entire audio-visual value chain, including production, broadcast, distribution and aggregation. It is home to STUDIOCANAL, a leading film and television studio with worldwide production and distribution capabilities; Dailymotion, major international video platform powered by cutting-edge proprietary technology for video delivery, advertising, and monetization; CANAL+ Distribution, a production and distribution company specialising in creating and distributing diverse content and channels; and telecommunication services, through GVA in Africa and CANAL+ Telecom in the French overseas jurisdictions and territories. 

CANAL+ also has significant equity stakes in Viaplay (the Pay-TV leader in Scandinavia) and Viu (a leading OTT platform in Southern Asia). 

canalplusgroup.com/en