Samsonite Group S.A. — Capital/Financing Update 2024

Apr 12, 2024

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Samsonite®

SAMSONITE INTERNATIONAL S.A.

新秀麗國際有限公司

13-15 Avenue de la Liberté, L-1931 Luxembourg

R.C.S. LUXEMBOURG: B 159.469

(Incorporated in Luxembourg with limited liability)

(Stock code: 1910)

REFINANCING OF TERM LOAN B FACILITY

Samsonite International S.A. (the "Company") is pleased to announce that on April 12, 2024 (the "Effective Date"), it entered into amendment no. 1 to second amended and restated credit and guaranty agreement, dated as of the Effective Date (the "Amendment"), pursuant to which it refinanced the Company and its subsidiaries' (the "Group's") Term Loan B Facility under the Second Amended and Restated Credit and Guaranty Agreement dated as of June 21, 2023 (the "Existing Credit Agreement", and as amended by the Amendment, the "Credit Agreement").

The interest rate payable under the refinanced Term Loan B Facility (the "2024 Term Loan B Facility") is 75.0 basis points lower than the rate previously payable under the Term Loan B Facility under the Existing Credit Agreement.

Under the 2024 Term Loan B Facility, the interest rate is based on the Secured Overnight Financing Rate ("SOFR") plus an applicable margin of 2.00% with a SOFR floor of 0.50% (or a base rate plus 1.00% per annum).

The loans under the 2024 Term Loan B Facility were issued with original issue discount with an issue price of 99.75%.

In connection with the refinancing, the Group borrowed US$100.0 million under its revolving credit facility and used the proceeds to reduce the principal amount of the Term Loan B Facility under the Existing Credit Agreement by US$95.5 million. The principal amount of the borrowings under the 2024 Term Loan B Facility is US$500.0 million.

The interest rate currently payable on the borrowings under the revolving credit facility is 77.5 basis points lower than the interest rate payable under the 2024 Term Loan B Facility.

The interest rate under the revolving credit facility was not changed pursuant to the Amendment, it is based on SOFR, with a SOFR floor of 0%, plus a 10 basis-point credit spread adjustment, plus an applicable margin (which can vary as described in the following sentence) of 1.125% per annum (or a base rate plus 0.125% per annum). The applicable margin with respect to the revolving credit facility can vary and is based on the lower rate derived from either the first lien net leverage ratio of the Company and its restricted subsidiaries at the end of each fiscal quarter or the Company's corporate ratings.

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The Company estimates that the refinancing of the Term Loan B Facility will result in a reduction in cash interest payments in the first full year following the Effective Date of approximately US$4.9 million per annum.

By Order of the Board
SAMSONITE INTERNATIONAL S.A.
Timothy Charles Parker
Chairman

Hong Kong, April 12, 2024

As of the date of this announcement, the Executive Director is Kyle Francis Gendreau, the Non-Executive Director is Timothy Charles Parker and the Independent Non-Executive Directors are Claire Marie Bennett, Angela Iris Brav, Paul Kenneth Etchells, Jerome Squire Griffith, Tom Korbas and Ying Yeh.

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