Launch of the process for transferring nuclear fuel cycle activities to NewCo

AREVA formally initiates the process for transferring nuclear fuel cycle activities to NewCo.  

• Adoption of the draft partial transfer agreement providing for a remuneration of the contribution calculated on the basis of an actual value of transferred assets and liabilities in the order of 1.4 billion euros; 
• Convening of the Extraordinary General Meeting of AREVA SA on November 3, 2016, to approve the draft partial transfer agreement; 
• Convening of Meetings of Bondholders on September 19, 2016, to approve the proposed partial transfer of assets from AREVA SA to NewCo and the simultaneous transfer of the bond debt¹ to NewCo:
  - Granting by AREVA SA of a temporary guarantee until completion of the NewCo capital increase, in the form of an irrevocable joint and several guarantee for the bondholder debt to be transferred to NewCo 
  - Preliminary B+ credit rating attributed to NewCo by S&P with possible raise by several notches on completion of the capital increase
• Confirmation of the projected capital increase for an overall amount of 5 billion euros² divided into 2 billion euros in AREVA SA and 3 billion euros in NewCo, in line with the financing requirements of the two companies; 
• Update of Newco's mid-term financial outlook to take account of Front End market conditions.
  
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¹ With the exception of the 2016 bond issue which will be repaid by AREVA SA at maturity
² Subject to approval by the European Commission under the rules on state aid