NEOEN

Capital/Financing Update • Oct 24, 2022

In Paris, October 24th, 2022

1.875% bonds convertible into new shares and/or exchangeable for existing shares (OCEANES) due October 7, 2024 – Result of the early redemption process at the Company's option

Neoen (ISIN Code: FR0011675362 – the "Company") announced on September 7, 2022, its decision to redeem all of the outstanding 1.875% bonds convertible into new shares and/or exchangeable for existing shares (OCEANES) due October 7, 2024, issued on October 7, 2019, by the Company (ISIN Code: FR0013451820 – the "Bonds") pursuant to the provisions of Condition 1.9.1.3 of the terms and conditions of the Bonds.

Bondholders had the option until October 19, 2022, to exercise their conversion/exchange right at a ratio of 1.078 Neoen shares per Bond presented.

The number of Bonds presented for conversion amounted to 6,614,676 Bonds (i.e. 99.78 % of all of the outstanding Bonds) with a par value of €30.17, representing a total nominal amount of €199,564,774.92.

In application of the conversion/exchange ratio of 1.078 Neoen shares per Bond, Neoen has issued a total number of 7,130,619 new Neoen shares (ISIN Code: FR0011675362).

The 14,425 Bonds not presented for conversion will be redeemed in cash on October 28, 2022, at the Early Redemption Price (as defined in the terms and conditions of the Bond) of €30.20263 per Bond (including €0.03263 of accrued interests), representing a total amount of €435,672.94.

About Neoen

Neoen is one of the world's leading independent producers of exclusively renewable energy. Neoen has close to 5.6 GW of solar, wind and storage capacity in operation or under construction in Australia, France, Finland, Mexico, El Salvador, Argentina, Ireland, Sweden, Portugal, Jamaica, Mozambique, and Zambia. The company is also active in Croatia, Canada, Ecuador and Italy. Neoen's flagship assets include France's most powerful solar farm in Cestas (300 MWp), and two of the world's largest lithium-ion batteries: Hornsdale Power Reserve (150 MW / 193.5 MWh) and the Victorian Big Battery (300 MW / 450 MWh), in Australia. Neoen is targeting more than 10 GW capacity in operation or under construction by the end of 2025. Neoen (ISIN Code: FR0011675362, ticker: NEOEN) is listed in Compartment A of the regulated market of Euronext Paris.