02 May 2024

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful

ProGroup AG

Post-Stabilisation Notice

Pursuant to Article 6(3) of Commission Delegated Regulation (EU) 2016/1052 supplementing Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the conditions applicable to buy-back programmes and stabilisation, Deutsche Bank Aktiengesellschaft (contact: Jeremy Selway, telephone +44 (0)20 7547 5983) hereby gives notice that no stabilisation was undertaken by the Stabilising Manager named below in relation to the offer of the following securities.

Issuer:                                     Progroup AG                          

Guarantors (if any):                            Progroup Logistics GmbH, Progroup Board GmbH, Progroup                                             Board s.r.o., Progroup Board sp. z o.o., Progroup Board Ltd.,                                              Progroup Paper PM1 GmbH, Progroup Paper PM2 GmbH,                                        Progroup Paper PM3 GmbH, Progroup Power 1 GmbH,                                                          Progroup Power 2 GmbH     

Aggregate nominal amount:               750,000,000

Description:                                         EUR 300,000,000 Senior Secured Fixed Rate Notes 5.125% due 2029 (RegS ISIN: DE000A383CQ2; 144A ISIN: DE000A383CR0)

EUR 450,000,000 Senior Secured Fixed Rate Notes 5.375% due 2031 (RegS ISIN: DE000A383CE8; 144A ISIN: DE000A383CF5)

Issue/reoffer price:                              5.125% notes due 2029: 100 / 100

                                                            5.375% notes due 2031: 100 / 100

Spread over benchmark:                    5.125% notes due 2029: +269 bps

                                                            5.375% notes due 2031: +303 bps

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

This announcement is not an offer of securities for sale into the United States. The securities referred to above have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There has not been and will not be a public offer of the securities in the United States.