Axactor SE — Capital/Financing Update 2021

Jan 29, 2021

NOTICE OF EXERCISE OF CALL OPTION

Nordic Trustee AS P.O. Box 1470 Vika N-0116 Oslo Norway E-mail: Soiland@nordictrustee.com

Oslo, 29 January 2021

AXACTOR SE EUR 250,000,000 FRN SENIOR UNSECURED BOND ISSUE 2018/2021 - ISIN NO 001 0819725

We refer to the Bond Agreement originally dated 22 March 2018 for the above mentioned Bond Issue made between Nordic Trustee AS as Bond Trustee on behalf of the Bondholders, and the undersigned as Issuer.

Capitalised terms used herein shall have the same meaning as in the Bond Agreement.

We hereby give you notice that we wish to exercise the Call Option and redeem all Outstanding Bonds at 100% of the Nominal Amount plus accrued interests on the redeemed amount pursuant to Clause 10.4 (Voluntary early redemption - Call Option) of the Amended Bond Agreement, with settlement date on the date falling five (5) Business Days after the date of this notice (the "Redemption Notice"), being 5 February 2021.

This Redemption Notice is given to you as bond trustee on behalf of yourself and the Bondholders. as amended by notice of written resolution

Yours faithfully, AXACTOR SE

______________________

Glen Ole Rødland Johnny Tsolis