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Solvay SA — Major Shareholding Notification 2026
Mar 10, 2026
4005_rns_2026-03-10_0d52b3c3-7782-4549-8211-46c9407044ce.pdf
Major Shareholding Notification
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FSMA
FINANCIAL SERVICES AND
MARKETS AUTHORITY
Transparency notification
Form TR-1 BE
PART I
1) Status of the notification
Final
2) Issuer
Name
SOLVAY
Identification number
0403-091-220
3) Reason for the notification
Acquisition or disposal of financial instruments that are treated as voting securities
4) Notification by
A parent undertaking or a controlling person
5) Persons subject to the notification requirement
| Name | Address (for legal entities) |
|---|---|
| The Goldman Sachs Group, Inc | Corporation Truse Center, 1209 Orange Street, Wilmington, DE 19801, USA |
6) Persons that dispose of voting rights (only to be filled in if art. 7 of the Law applies)
| Name | Address (for legal entities) |
|---|---|
↑
Please continue entering the information in part II concerning the persons referred to in Sections 5 and 6
Part II
7) Date on which the threshold is crossed
27/02/2026 (DD/MM/YYYY)
8) Threshold that is crossed (in %)
7.5
↑
If the holding has fallen below the lowest threshold, you have the option of not entering any numbers in Section 10
9) Denominator
105,876,416
↑
Please enter the denominator before filling in the data
10) Notified details
| A) Voting rights | Previous notification | After the transaction | |||
|---|---|---|---|---|---|
| # of voting rights | # of voting rights | % of voting rights | |||
| Holders of voting rights | Linked to securities | Not linked to the securities | Linked to securities | Not linked to the securities | |
| The Goldman Sachs Group, Inc. | 0 | 0 | 0.00% | ||
| Goldman Sachs International | 0 | 16,994 | 0.02% | ||
| Goldman Sachs Asset Management, L.P. | 116,591 | 116,571 | 0.11% | ||
| Goldman Sachs Asset Management International | 19,811 | 19,811 | 0.02% | ||
| Subtotal | 136,402 | 153,376 | 0.14% | ||
| TOTAL | 153,376 | 0 | 0.14% | 0.00% |
Start with "groups" of holders. Add subtotals with $\sum_{i}$ and then finish with the persons who are "alone". For groups, start with the ultimate controlling natural person or legal entity. The totals, subtotals and $\%$ will be updated once you have clicked on .
| B) Equivalent financial instruments | After the transaction | |||||
|---|---|---|---|---|---|---|
| Holders of equivalent financial instruments | Type of financial instrument | Expiration date | Exercise period or date | # of voting rights that may be acquired if the instrument is exercised | % of voting rights | Settlement |
| Goldman Sachs Bank Europe SE | Call Warrant | 31/12/2030 | 204 | 0.00% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 31/12/2030 | 907 | 0.00% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 31/12/2030 | 3,200 | 0.00% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 30/06/2037 | 4,550,000 | 4.30% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 31/12/2030 | 800 | 0.00% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 31/12/2030 | 2,400 | 0.00% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 31/12/2030 | 1,700 | 0.00% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 31/12/2030 | 100 | 0.00% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 31/12/2030 | 10,000 | 0.01% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 31/12/2030 | 90 | 0.00% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 31/12/2030 | 620 | 0.00% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 31/12/2030 | 6,517 | 0.01% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 31/12/2030 | 6,000 | 0.01% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 31/12/2030 | 400 | 0.00% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 31/12/2030 | 9,576 | 0.01% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 03/03/2026 | 1,500 | 0.00% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 02/03/2026 | 5,000 | 0.00% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 31/12/2030 | 5,672 | 0.01% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 03/03/2026 | 6,000 | 0.01% | Cash | |
| Goldman Sachs Bank Europe SE | Call Warrant | 03/03/2026 | 2,500 | 0.00% | Cash | |
| Goldman Sachs Finance Corp International Ltd | Swap | 25/09/2034 | 218,923 | 0.21% | Cash | |
| Goldman Sachs Finance Corp International Ltd | Swap | 30/04/2035 | 126,477 | 0.12% | Cash | |
| Goldman Sachs Finance Corp International Ltd | Swap | 10/04/2035 | 88,328 | 0.08% | Cash | |
| Goldman Sachs Finance Corp International Ltd | Swap | 14/04/2037 | 45,655 | 0.04% | Cash | |
| Goldman Sachs Finance Corp International Ltd | Swap | 27/09/2034 | 15,557 | 0.01% | Cash | |
| Goldman Sachs Finance Corp International Ltd | Swap | 22/09/2031 | 12,099 | 0.01% | Cash | |
| Goldman Sachs International | Swap | 26/11/2035 | 541,902 | 0.51% | Cash | |
| Goldman Sachs International | Swap | 21/01/2036 | 394,639 | 0.37% | Cash | |
| Goldman Sachs International | Swap | 26/02/2027 | 303,735 | 0.29% | Cash | |
| Goldman Sachs International | Swap | 26/11/2035 | 232,453 | 0.22% | Cash | |
| Goldman Sachs International | Swap | 28/12/2026 | 211,805 | 0.20% | Cash | |
| Goldman Sachs International | Swap | 22/05/2035 | 115,373 | 0.11% | Cash | |
| Goldman Sachs International | Swap | 26/02/2029 | 102,405 | 0.10% | Cash | |
| Goldman Sachs International | Swap | 30/10/2035 | 73,717 | 0.07% | Cash | |
| Goldman Sachs International | Swap | 16/01/2029 | 62,530 | 0.06% | Cash | |
| Goldman Sachs International | Swap | 25/03/2027 | 28,396 | 0.03% | Cash | |
| Goldman Sachs International | Swap | 14/01/2036 | 25,324 | 0.02% | Cash | |
| Goldman Sachs International | Swap | 05/09/2028 | 22,770 | 0.02% | Cash | |
| Goldman Sachs International | Swap | 11/01/2027 | 21,573 | 0.02% | Cash | |
| Goldman Sachs International | Swap | 06/06/2035 | 17,169 | 0.02% | Cash | |
| Goldman Sachs International | Swap | 06/11/2035 | 15,042 | 0.01% | Cash | |
| Goldman Sachs International | Swap | 18/02/2036 | 13,183 | 0.01% | Cash | |
| Goldman Sachs International | Swap | 11/11/2027 | 10,884 | 0.01% | Cash | |
| Goldman Sachs International | Swap | 24/12/2035 | 10,779 | 0.01% | Cash | |
| Goldman Sachs International | Swap | 14/01/2036 | 7,571 | 0.01% | Cash |
| Goldman Sachs International | Swap | 05/12/2030 | 7,203 | 0.01% | Cash | - | |
|---|---|---|---|---|---|---|---|
| Goldman Sachs International | Swap | 13/11/2034 | 5,646 | 0.01% | Cash | - | |
| Goldman Sachs International | Swap | 17/08/2026 | 4,783 | 0.00% | Cash | - | |
| Goldman Sachs International | Swap | 04/09/2028 | 4,426 | 0.00% | Cash | - | |
| Goldman Sachs International | Swap | 18/02/2036 | 4,364 | 0.00% | Cash | - | |
| Goldman Sachs International | Swap | 26/02/2029 | 4,031 | 0.00% | Cash | - | |
| Goldman Sachs International | Swap | 26/11/2035 | 3,642 | 0.00% | Cash | - | |
| Goldman Sachs International | Swap | 25/02/2028 | 2,408 | 0.00% | Cash | - | |
| Goldman Sachs International | Swap | 12/11/2035 | 2,089 | 0.00% | Cash | - | |
| Goldman Sachs International | Swap | 02/01/2029 | 1,849 | 0.00% | Cash | - | |
| Goldman Sachs International | Swap | 05/02/2029 | 1,820 | 0.00% | Cash | - | |
| Goldman Sachs International | Swap | 26/11/2035 | 1,600 | 0.00% | Cash | - | |
| Goldman Sachs International | Swap | 26/02/2036 | 1,471 | 0.00% | Cash | - | |
| Goldman Sachs International | Swap | 05/02/2029 | 921 | 0.00% | Cash | - | |
| Goldman Sachs International | Swap | 18/02/2036 | 683 | 0.00% | Cash | - | |
| Goldman Sachs International | Swap | 31/10/2035 | 517 | 0.00% | Cash | - | |
| Goldman Sachs International | Swap | 05/01/2027 | 415 | 0.00% | Cash | - | |
| Goldman Sachs International | Swap | 16/01/2031 | 320 | 0.00% | Cash | - | |
| Goldman Sachs International | Swap | 16/04/2026 | 1 | 0.00% | Cash | - | |
| Goldman Sachs International | Call Option | 19/06/2026 | 175,000 | 0.17% | Physical | - | |
| Goldman Sachs International | Put Option | 18/06/2027 | 150,000 | 0.14% | Physical | - | |
| Goldman Sachs International | Put Option | 18/12/2026 | 75,000 | 0.07% | Physical | - | |
| Goldman Sachs International | Securities Lending | Open | 102,482 | 0.10% | Physical | - | |
| Goldman Sachs & Co. LLC | Securities Lending | Open | 18,632 | 0.02% | Physical | + | |
| TOTAL | 7,900,778 | 7.46% |
1 The totals will be updated once you have clicked on
TOTAL (A & B)
| # of voting rights | % of voting rights | |
|---|---|---|
| CALCULATE | 8,054,154 | 7.61% |
11) Full chain of controlled undertakings through which the holding is effectively held, if applicable
Please refer to Annexure - Structured Chart
12) In case of proxy voting for only one GM
Holder
will cease to hold / will hold again
0
voting rights as of
(DD/MM/YYYY)
13) Additional information
With reference to the items mentioned in Section 10B:
- "Call Option", "Call Warrants", "Put Option" and "Swaps" mentioned in rows 64 to 130 - these are held by the corresponding entities where Goldman Sachs has a long exposure
Done at Warsaw
On 05/03/2026 (DD/MM/YYYY)
Name & capacity Andrzej Szyszka
Signature
For security reasons, the unsigned form in xlsx format should be transmitted to [email protected]. You can do this manually OR if you have MS Outlook at your disposal via the "Save & Send" button.
In addition, a signed copy in PDF format should also be transmitted.

Chain of Controlled Undertakings:
- GOLDMAN SACHS INTERNATIONAL IS CONTROLLED BY GOLDMAN SACHS GROUP UK LIMITED WHICH IS CONTROLLED BY GOLDMAN SACHS (UK) L.L.C. WHICH IS CONTROLLED BY THE GOLDMAN SACHS GROUP, INC.
- GOLDMAN SACHS ASSET MANAGEMENT, L.P. IS CONTROLLED BY GSAM HOLDINGS LLC WHICH IS CONTROLLED BY THE GOLDMAN SACHS GROUP, INC.
- GOLDMAN SACHS ASSET MANAGEMENT INTERNATIONAL IS CONTROLLED BY GOLDMAN SACHS ASSET MANAGEMENT INTERNATIONAL HOLDINGS LTD WHICH IS CONTROLLED BY GSAMI HOLDINGS II LTD. WHICH IS CONTROLLED BY GSAMI HOLDINGS I LLC WHICH IS CONTROLLED BY GSAM HOLDINGS LLC WHICH IS CONTROLLED BY THE GOLDMAN SACHS GROUP, INC.
- GOLDMAN SACHS BANK EUROPE SE IS CONTROLLED BY GOLDMAN SACHS BANK USA WHICH IS CONTROLLED BY THE GOLDMAN SACHS GROUP, INC.
- GOLDMAN SACHS FINANCE CORP INTERNATIONAL LTD WHICH IS CONTROLLED BY GS GLOBAL MARKETS, INC. WHICH IS CONTROLLED BY THE GOLDMAN SACHS GROUP, INC.
- GOLDMAN SACHS & CO. LLC IS CONTROLLED BY THE GOLDMAN SACHS GROUP, INC.