Latécoère: Approval of the Conciliation Protocol

Regulatory News:

Latécoère (Paris:LAT) today announced that, following the signature of a conciliation protocol with all of its present and future financial creditors and its majority shareholder (cf. press release July 2, 2021), the Commercial Court in Toulouse approved this agreement by judgment dated July 7, 2021.

This protocol and its approval by the Court will allow Latécoère the implementation of the various operations agreed in the agreement relating to a comprehensive recapitalization of the Group.

The judgment puts an end to the conciliation procedure opened on May 11, 2021.

Pierre Gadonneix, Chairman of the Board of Directors, commented: "On behalf of the Group's employees, I would like to thank all of our banking partners and our reference shareholder Searchlight Capital Partners for their renewed presence at our side during this unprecedented crisis for the aeronautics sector. Over the past year, our company and our industry have been heavily impacted by the sanitary crisis. Through this period, Latécoère has focused on strengthening its financial resources and balance sheet. The completion of all the operations provided for in the conciliation protocol will enable the Group to continue implementing its transformation plan and thus ensure the sustainability of its activities over the medium term while providing the necessary financial resources for its growth. The sanitary crisis has shown that it is important for resilient players to emerge, with adequate financial capacity to support customers in their development projects."

Philip Swash, Chief Executive Officer of the Group, stated: "The signing of the conciliation agreement is a key milestone for the Latécoère Group, which can now turn to the future with confidence. With a stronger balance sheet and sufficient liquidity for the medium term, we have now the means to complete our transformation plan as well as optimize our manufacturing processes and competitiveness. We will rapidly deploy our growth strategy, especially in the Aerostructures market where critical size is needed to build profitable and sustainable partnerships with our customers. Latécoère will thus continue to improve its customer focus and maintain its leadership in research and technology to be well positioned on the future commercial platforms expected to be launched over the next decade."

About Latécoère

As a "Tier 1" international partner of the world's major aircraft manufacturers (Airbus, Boeing, Bombardier, Dassault, Embraer and Mitsubishi Aircraft), Latécoère is active in all segments of the aeronautics industry (commercial, regional, business and military aircraft), in two areas of activity:

• Aerostructures (55% of turnover): fuselage sections and doors,
• Interconnection Systems (45% of turnover): wiring, electrical furniture and on-board equipment.

As of December 31, 2020, the Group employed 4,172 people in 13 different countries. Latécoère, a French limited company capitalised at € 23,704,629.50 divided into 94,818,518 shares with a par value of €0.25, is listed on Euronext Paris - Compartment B, ISIN Codes: FR0000032278 - Reuters: LAEP.PA - Bloomberg: LAT.FP.

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