Pierre & Vacances

Capital/Financing Update • Jun 3, 2022

Paris, June 3, 2022

Meetings of shareholders and creditors on July 8, 2022 in order to approve the restructuring of the Pierre & Vacances – Center Parcs Group

Following the announcements made by the Company on March 10, April 22 and May 25, 2022 regarding the progress of the Group's restructuring process, the Company announces the convening of its shareholders and creditors on July 8, 2022 for the purpose of approving the transactions provided for in the agreement entered into on March 10, 2022 (the "Restructuring Transactions").

By judgment dated May 31, 2022, the Commercial Court of Paris approved the Company's request and opened an accelerated safeguard procedure to its benefit. As a reminder, this procedure only affects financial creditors directly concerned by the Restructuring Transactions, to the exclusion of any other partner, notably lessors or suppliers.

In this context, the Board of Directors of the Company has decided to convene a general meeting of its shareholders and a special meeting of those shareholders holding double voting rights in order to vote on the resolutions necessary for the implementation of the Restructuring Transactions.

The court-appointed administrator of the accelerated safeguard procedure, SCP Abitbol et Rousselet, represented by Frédéric Abitbol and Joanna Rousselet, has convened the classes of parties affected by said procedure in order to obtain their approval of the draft accelerated safeguard plan.

Each of these meetings will be held on Friday July 8, 2022. Those notices of meeting which are subject to legal publication were published, inter alia, in today's BALO (Bulletin des Annonces Légales Obligatoires) and are available on the Company's website (www.groupepvcp.com) in the "Finance / Publications / Restructuring" section.

To date, the target date for settlement of the Restructuring Transactions remains September 16, 2022.

* * *