Valerum AB (publ) - Event of Default and Default put option under Valerum's senior secured bonds

In accordance with the press release published by Valerum 2 October 2023, Valerum has not paid Interest due on the Interest Payment Date falling 5 October 2023. Pursuant to Clause 14.1 (Non-Payment) of the Terms and Conditions, an Event of Default has occurred. Therefore, pursuant to Clause 9.6 (Default Put Option) of the Terms and Conditions, each Bondholder has the right, but not the obligation (unless required by reason of the Default Call Option set out in Clause 9.6 of the Terms and Conditions), to sell Bonds held by such Bondholder to Samhällsbyggnadsbolaget i Norden AB (publ) ("SBB") (and SBB has an obligation to purchase such Bonds) at a price per Bond equal to 100 per cent. of the nominal amount together with accrued but unpaid interest. The relevant payment date for such purchase amount will be coordinated by the Agent directly with SBB if any Bondholder exercises its rights under the Default Put Option. Pursuant to Clause 9.6 (Default Put Option) of the Terms and Conditions, SBB shall purchase the relevant Bonds being subject to the Default Put Option no later than 20 Business Days after the Long Stop Date (as defined below).

A Bondholder that wants to exercise its right to sell Bonds shall send notice to the Agent and procure that the Agent has received the notice no later than CET 17:00 on 9 November 2023 (the "Long Stop Date"). Such notice shall be sent to:

 Intertrust (Sweden) AB
Att: Agency & Trustee (Valerum)
Sveavägen 9, 111 57 Stockholm
[email protected]
+46 8 402 72 00