PROCES-VERBAL DES DECISIONS DU PRESIDENT EN DATE DU 22 FÉVRIER 2022

Arc AssetCo

Société par actions simplifiée au capital de 1.000 euros Siège social : 000, xxxxxx xx Xxxxxxx xx Xxxxxx, 00000 Xxxxxx

908 306 756 R.C.S. Boulogne-sur-Mer (ci-après la « Société »)

PROCES-VERBAL DES DECISIONS DU PRESIDENT EN DATE DU 22 FÉVRIER 2022

L’an deux mille vingt-deux, le 22 février, Le Président rappelle que :

− l’associé unique de la Société a décidé, par décisions en date du 22 février 2022, de procéder à l’émission de seize millions neuf cent soixante-quatre mille cinq cents (16.964.500) obligations simples, d’une valeur nominale de un euro (EUR 1) chacune, pour un prix de souscription total de seize millions neuf cent soixante-quatre mille cinq cents euros (EUR 16.964.500) (les « Obligations ») ;

− par un contrat de vente d’équipement (Equipement sale agreement) conclu en date du 22 février 2022, la Société a acquis auprès de l’associé unique certains équipements destinés à la production de verre, dont le prix sera payé de manière différée pour partie par versement sur le compte bancaire de l’associé unique, le solde d’un montant total de six millions huit cent vingt-deux mille cinq cents euros (EUR 6.822.500) faisant l’objet d’un crédit-vendeur mis à disposition par l’associé unique au profit de la Société ;

− l’associé unique est créancier de la Société à hauteur d’une somme de cent quatorze mille cinq cents euros (EUR 114.500) au titre d’un compte courant d’associé entre l’associé unique, en tant que prêteur, et la Société, en tant que bénéficiaire ; et

− l’associé unique de la Société a décidé, par décisions en date du 22 février 2022, d’augmenter le capital en numéraire, avec maintien du droit préférentiel de souscription, par voie d’émission au pair de six millions neuf cent trente-sept mille (6.937.000) actions ordinaires d’une valeur nominale d’un euro (EUR 1) chacune, pour un montant total de six millions neuf cent trente-sept mille euros (EUR 6.937.000), à libérer intégralement en numéraire lors de la souscription, soit à compter de la date des présentes et pendant une durée de quinze

(15) jours calendaires (étant précisé que la période de souscription pourra être close par anticipation dès la souscription de l’intégralité des actions ordinaires), y compris par voie de compensation avec des créances certaines, liquides et exigibles, afin de porter le capital de mille euros (EUR 1.000) à six millions neuf cent trente-huit mille euros (EUR 6.938.000) (l’« Augmentation de Capital »).

Par conséquent, la société Arc France, représentée par Arc Management & Services, elle-même représentée par Arc Holdings, elle-même représentée par X. Xxxxxxxx Xxxxxx, agissant en qualité de

Président de la Société, prenant acte des décisions de l’associé unique de la Société en date de ce même jour, a pris les décisions suivantes :

1. Constatation de la réalisation définitive de l’émission des Obligations ;

2. Constatation de la réalisation de l’Augmentation de Capital et modification corrélative de l’article 6 « Apports » et de l’article 7 « Capital social » des statuts de la Société ; et

3. Pouvoir pour l’accomplissement des formalités.

PREMIERE DÉCISION

Constatation de la réalisation définitive de l’émission des Obligations

Le Président, après avoir constaté la souscription par Deva Capital Management Company S.L.U. une société de droit espagnol, dont le siège social est situé, Xxxxxxx xx Xxxxxxxxx, x/x, 00000 Xxxxxxxx xxx Xxxxx, Xxxxxx, Xxxxxxx et enregistrée au registre du commerce de Madrid sous le tome 38725, page 50, page M-688536 (« Deva Capital Management Company S.L.U. ») agissant en tant que représentant de Deva Capital Investment Company S.L.U., portant sur seize millions neuf cent soixante-quatre mille cinq cents (16.964.500) obligations, d’une valeur nominale de un euro (EUR 1) chacune, émises pour un prix de souscription total de seize millions neuf cent soixante- quatre mille cinq cents euros (EUR 16.964.500),

− prend acte que le paiement du prix de souscription des Obligations aura lieu de manière différée en date du 24 février 2022 ;

− constate que les Obligations ont été intégralement souscrites dans les conditions et délais prévus par les décisions de l’associé unique en date de ce jour et que le délai de souscription se trouve clos par anticipation ; et

− constate la réalisation définitive de l’émission des Obligations.

Cette décision est adoptée par le Président.

DEUXIEME DÉCISION

Constatation de la réalisation de l’Augmentation de Capital et modification corrélative de l’article 6 « Apports » et de l’article 7 « Capital social » des statuts de la Société

Le Président, après avoir :

(i) pris connaissance de l’arrêté de créance en date de ce jour établi conformément à l’article

R. 225-134 du Code de commerce, établissant le montant des créances certaines, liquides et exigibles détenues par l’associé unique sur la Société à six millions neuf cent trente-sept mille euros (EUR 6.937.000) :

a. à hauteur d’une somme de six millions huit cent vingt-deux mille cinq cents euros (EUR 6.822.500), au titre d’un contrat de vente d’équipement (equipment sale agreement) conclu en date de ce jour entre l’Associé Unique, en tant que cédant, et la Société, en tant que cessionnaire ; et

b. à hauteur d’une somme de cent quatorze mille cinq cents euros (EUR 114.500) au titre d’un compte courant d’associé entre l’Associé Unique, en tant que prêteur, et la Société, en tant que bénéficiaire ;

(ii) constaté la signature du bulletin de souscription par l’Associé Unique portant sur six millions neuf cent trente-sept mille (6.937.000) actions ordinaires nouvelles, d’une valeur nominale de un euro (EUR 1) chacune, émises pour un prix de souscription total de six millions neuf cent trente-sept mille euros (EUR 6.937.000) ;

(iii) pris connaissance du certificat du commissaire aux comptes tenant lieu de certificat du dépositaire des fonds en application de l’article L. 225-146, alinéa 2, du Code de commerce, à hauteur de six millions neuf cent trente-sept mille euros (EUR 6.937.000) correspondant au prix de souscription des six millions neuf cent trente-sept mille (6.937.000) actions ordinaires nouvelles libérées par compensation, établi au vu de l’arrêté de compte susvisé établi par le Président de la Société à la même date,

− constate que l’Augmentation de Capital a été intégralement souscrite dans les conditions et délais prévus par les décisions de l’associé unique en date de ce jour, l’associé unique ayant libéré la totalité de sa souscription par compensation avec des créances certaines, liquides et exigibles détenues sur la Société et que le délai de souscription se trouve clos par anticipation ;

− constate la réalisation définitive de l’Augmentation de Capital, portant le capital de la Société de mille euros (EUR 1.000) à six millions neuf cent trente-huit mille euros (EUR 6.938.000) ;

− décide de modifier l’article 6 « Apports » et l’article 7 « Capital Social » des statuts de la Société ainsi qu’il suit :

« Article 6. APPORTS

A la constitution de la Société, il a été fait apport d’une somme en numéraire de mille (1.000) euros correspondant à la souscription de mille (1.000) actions d’une valeur nominale d’un

(1) euro chacune, intégralement souscrites et libérées, ainsi qu’il résulte du certificat du dépositaire établi préalablement à la date de signature des présents statuts par la banque BRED Banque Populaire, 00, Xxxx xx xx Xxxxx, 00000 Xxxxx.

Conformément aux décisions de l’associé unique en date du 22 février 2022, il a été procédé à une augmentation de capital en numéraire d’un montant total de six millions neuf cent trente-sept mille (6.937.000) euros par émission de six millions neuf cent trente-huit mille (6.937.000) actions nouvelles d’une valeur nominale d’un (1) euro chacune. »

« Article 7. CAPITAL SOCIAL

Le capital social est fixé à la somme de six millions neuf cent trente-huit mille euros (6.938.000) euros.

Il est divisé en six millions neuf cent trente-huit mille euros (6.938.000) actions d’une valeur nominale d’un (1) euro, intégralement libérées. »

Cette décision est adoptée par le Président.

TROISIEME DÉCISION

Pouvoir pour l’accomplissement des formalités

Le Président décide de conférer tous pouvoirs au porteur d’un original, d’une copie ou d’un extrait des présentes décisions à l’effet de procéder à toutes les formalités prescrites par la loi relativement à l’une ou plusieurs des décisions adoptées aux termes des présentes décisions.

Cette décision est adoptée par le Président.

* * *

TITRE I

FORME - OBJET - DENOMINATION - SIEGE SOCIAL

- DUREE

Article 1. FORME

La Société est une société par actions simplifiée, régie par les dispositions législatives et réglementaires applicables et par les présents statuts.

Elle est formée entre le propriétaire des actions ci-après créées et de celles qui le seraient ultérieurement.

La Société fonctionne indifféremment sous la même forme avec un ou plusieurs associés, étant précisé que, lorsque la Société ne comprend qu’un associé, celui-ci exerce les pouvoirs dévolus à la collectivité des associés.

Elle ne peut procéder à une offre au public de titres financiers ou à l'admission aux négociations sur un marché réglementé de ses actions. Elle peut néanmoins procéder aux offres visées à l’article

L. 227-2 du Code de commerce.

TITLE I

FORM - PURPOSE - NAME - REGISTERED/PRINCIPAL OFFICE - TERM

Article 1. FORM

The Company is a French société par actions simplifiée (simplified stock company), subject to applicable law and regulations and these articles of association.

It is being formed among the owner of the shares to be issued below and those that may be in the future.

The Company may operate in the same form with one or more shareholders, provided, however, when the Company has only one shareholder, he/she/it will exercise the authority given to the shareholders as a body.

It may not make public offering of financial securities or be listed on a regulated market for the trading of shares. It may, however, make the offers set forth in article L. 227-2 of the French commercial code.

Article 2. OBJET

2.1 La Société a pour objet en France et à l’étranger :

Article 2. PURPOSE

2.1 The Company’s purpose shall be in France and abroad:

- l’acquisition et la vente d’équipements et d’actifs mobiliers (les « Equipements »);

- la conclusion de tout type de financement destiné à réaliser ou faciliter son objet ;

- d’une manière générale, toutes opérations de quelque nature qu’elles soient, financières, commerciales, industrielles, mobilières, immobilières ou autres, se rattachant directement ou indirectement à ce qui précède ou susceptibles d’en favoriser la réalisation, l’extension ou le développement.

2.2. Sauf lorsqu’elle y est expressément et préalablement autorisée par l'associé unique ou l’unanimité des Associés ou aux termes de conventions dont la conclusion a été expressément autorisée par l'associé unique ou l’unanimité des Associés :

- the acquisition and sale of equipment and moveable assets (the “Equipment”);

- the conclusion of all types of financing intended to achieve or facilitate its object;

- and, in general, all operations of any nature whatsoever, whether financial, commercial, industrial, movable, immovable property or other, directly or indirectly related to the foregoing or likely to promote the implementation, extension or development thereof.

2.2. Except where prior and expressly authorised by the sole shareholder or by a unanimous vote of the Shareholders or pursuant to agreements the conclusion of which has been expressly authorised by the sole shareholder or the unanimous vote of the Shareholders:

a) la Société ne détiendra pas d’autres actifs significatifs que les Equipements, ainsi que leurs accessoires, pièces détachées y afférant, du numéraire, et les sûretés, cautions ou autres garanties afférents ou les instruments financiers ou autres actifs dans lesquels la trésorerie excédentaire de la Société pourra être place ;

b) elle ne cèdera pas ni ne promettra de céder de quelque manière que ce soit ses actifs ;

c) elle ne contractera aucun emprunt ou toute autre forme d'endettement, ni n'accordera ou promettra d'accorder des prêts, crédits, cautions, avals ou garanties et plus généralement, elle ne consentira à la prise d'aucune sûreté sur ses actifs ;

d) elle n'embauchera ni ne promettra d'embaucher du personnel ;

e) elle ne détiendra des filiales, une quelconque participation ou action, part sociale, instrument financier (à l'exception des instruments financiers dans lesquels la trésorerie excédentaire de la société pourra être placée conformément à toute convention autorisée par l'unanimité des associés) ou titre donnant accès directement ou indirectement au capital social d'une société ou d'une autre entité ; et

f) elle s'interdira de participer à des opérations de fusion ou d'apport avec une ou plusieurs autres sociétés.

2.3 Sauf lorsqu’elle y est expressément et préalablement autorisée par l'associé unique ou l’unanimité des Associés, l’ensemble des contrats auxquels la Société est partie devront contenir une renonciation par les autres parties à ces contrats :

a) à tout recours en vue de l’ouverture, s’agissant de la Société ou de l’un quelconque de ces actifs, de l’une quelconque des procédures prévues au Livre VI du Code de commerce, et

b) à tout recours contre des actifs de la Société autrement que dans la limite des actifs qui leur sont alloués dans le cadre desdits contrats.

Article 3.. DÉNOMINATION

La dénomination de la Société est :

Arc AssetCo

a) the Company shall not hold any significant assets other than the Equipment, together with its accessories, spare parts, cash, and any sureties, bonds or other guarantees relating thereto or financial instruments or other assets in which the Company's surplus cash may be placed;

b) it will not dispose of or promise to dispose of its assets in any way;

c) it shall not contract any loan or any other form of indebtedness, nor shall it grant or promise to grant any loan, credit, surety, endorsement or guarantee and, more generally, it shall not agree to the taking of any security over its assets;

d) it will not hire or promise to hire staff;

e) it shall not hold from any subsidiary, any equity or share, financial instrument (with the exception of financial instruments in which the company's surplus cash may be invested in accordance with any agreement authorised by a unanimous vote of the partners) or security giving direct or indirect access to the share capital of any company or other entity; and

f) it shall refrain from participating in merger or contribution operations with one or more other companies.

2.3 Unless expressly and prior permitted by the sole shareholder or a unanimous vote of the Shareholders, all contracts to which the Company is a party shall contain a waiver by the other parties to these contracts:

a) any action for the opening, in respect of the Company or any of its assets, of any of the procedures provided for in Book VI of the French Commercial Code; and

b) any recourse against assets of the Company other than to the extent of the assets allocated to them under such contracts.

Article 0.XXXX

The Company’s name is:

Arc AssetCo

In any and all deeds and documents issued by the Company and intended for third parties, the name shall be immediately preceded or followed by the

Dans tous les actes et documents émanant de la Société et destinés aux tiers, la dénomination sera précédée ou suivie immédiatement des mots « société par actions simplifiée » ou des initiales « SAS », et de l'énonciation du siège social, du montant du capital social, ainsi que du lieu et du numéro d’identification unique de la Société au registre du commerce et des sociétés.

Article 4. SIÈGE SOCIAL

Le siège social est fixé :

000, xxxxxx xx Xxxxxxx xx Xxxxxx, 00000 Xxxxxx

Il peut être transféré en tout autre lieu en France métropolitaine par décision du Président, qui est autorisé à modifier le présent article en conséquence.

words “société par actions simplifiée” (simplified joint stock company) or the initials “SAS”, and a statement of the registered office, the amount of the share capital and the place and single identification number of the Company in the trade and company register.

Article 4. REGISTERED OFFICE

The registered office is located at:

000, xxxxxx xx Xxxxxxx xx Xxxxxx, 00000 Xxxxxx

It may be transferred to any other place in Metropolitan France by a decision of the President, who is authorized to amend this article accordingly.

Article 5. DURÉE

La durée de la Société est fixée à quatre-vingt-dix-neuf

(99) ans à compter de la date de son immatriculation au registre du commerce et des sociétés, sauf dissolution anticipée ou prorogation, un (1) an au moins avant la date d’expiration de la Société, prise par décision collective des associés.

Article 5. TERM

The Company’s term shall be ninety-nine (99) years from and after the date it is registered at the registre du commerce et des sociétés (trade and company register), unless extended or prematurely dissolved at least one (1) year before the Company’s expiration date by decision of the shareholders.

TITRE II

APPORTS - CAPITAL SOCIAL - ACTIONS ET AUTRES VALEURS MOBILIERES

Article 6. APPORTS

A la constitution de la Société, il a été fait apport d’une somme en numéraire de mille (1.000) euros correspondant à la souscription de mille (1.000) actions d’une valeur nominale d’un (1) euro chacune, intégralement souscrites et libérées, ainsi qu’il résulte du certificat du dépositaire établi préalablement à la date de signature des présents statuts par la banque BRED Banque Populaire, 00, Xxxx xx xx Xxxxx, 00000 Xxxxx.

Conformément aux décisions de l’associé unique en date du 22 février 2022, il a été procédé à une augmentation de capital en numéraire d’un montant total de six millions neuf cent trente-sept mille (6.937.000) euros par émission de six millions neuf cent trente-sept mille (6.937.000) actions nouvelles d’une valeur nominale d’un (1) euro chacune.

TITLE II

CAPITAL CONTRIBUTIONS - SHARE CAPITAL - SHARES AND OTHER SECURITIES

Article 6. CAPITAL CONTRIBUTIONS

Upon formation of the Company a contribution in cash was made to the Company of thousand (1,000) euro in connection with a subscription for thousand shares, with a nominal value of one (1) euro each, fully subscribed and fully paid, as shown in the certificat du dépositaire (certificate of the depository) drawn up prior to the date of signature of these articles of association by the bank BRED Banque Populaire, 00, Xxxx xx xx Xxxxx, 00000 Xxxxx.

In accordance with the decisions of the sole shareholder dated 22 February 2022, the share capital of the Company has been increased for a total amount of six million nine hundred and thirty-seven thousand (6,937,000) euros through the issuance of six million nine hundred and thirty-seven thousand (6,937,000) new shares with a nominal value of one

(1) euro each.

Article 7. CAPITAL SOCIAL

Le capital social est fixé à la somme de six millions neuf cent trente-huit mille euros (6.938.000) euros.

Il est divisé en six millions neuf cent trente-huit mille euros (6.938.000) actions d’une valeur nominale d’un (1) euro, intégralement libérées.

Article 7. SHARE CAPITAL

The share capital is set at six million nine hundred and thirty-eight thousand euros (6,938,000) euro.

It is divided into six million nine hundred and thirty- eight thousand euros (6,938,000) shares with a nominal value of one (1) euro each, fully paid up.

Article 8. MODIFICATION DU CAPITAL SOCIAL

Le capital social peut être augmenté, amorti ou réduit dans les conditions prévues par les dispositions législatives et réglementaires et par les présents statuts, par décision collective des associés.

La collectivité des associés peut également déléguer au président, les pouvoirs nécessaires à l'effet de décider une augmentation de capital ou de réaliser une réduction de capital, d'en constater la réalisation et de procéder à la modification corrélative des statuts.

Article 8. CHANGES IN SHARE CAPITAL

The share capital may be increased, amortized, or reduced on the terms and conditions set forth in applicable law and regulations and by these articles of association, by a collective decision of the shareholders.

The shareholders may also delegate to the president the authority necessary to act to increase or decrease the share capital and to report completion thereof and amend the articles of association accordingly.

Article 9. LIBERATION DES ACTIONS

Toutes les actions d'origine formant le capital initial et représentant des apports en numéraire doivent être obligatoirement libérées de la moitié au moins de leur valeur nominale lors de leur souscription.

Les actions souscrites lors d'une augmentation de capital en numéraire doivent être obligatoirement libérées d'un quart au moins de leur valeur nominale lors de leur souscription et, le cas échéant, de la totalité de la prime d'émission.

La libération du surplus doit intervenir en une ou plusieurs fois sur décision du Président dans le délai de cinq (5) ans, soit à compter du jour de l'immatriculation au Registre du Commerce et des Sociétés, soit, en cas d'augmentation de capital, à compter du jour où celle-ci est devenue définitive.

Les appels de fonds sont portés à la connaissance des souscripteurs par lettre recommandée avec accusé de réception expédiée quinze (15) jours au moins avant la date fixée pour chaque versement. Les versements sont effectués, soit au siège social, soit en tout autre endroit indiqué à cet effet.

Tout retard dans le versement des sommes dues sur le montant non libéré des actions entraîne, de plein droit et sans qu'il soit besoin de procéder à une formalité quelconque, le paiement d'un intérêt au taux légal, à partir de la date d'exigibilité, sans préjudice de l'action personnelle que la Société peut exercer contre l'associé défaillant et des mesures d'exécution forcée prévues par la loi.

Article 9. PAYMENT FOR SHARES

All original shares forming the initial capital and representing contributions in cash must be paid up to at least half their nominal value at the time of subscription.

The shares subscribed to in a cash capital increase must be paid up to at least one quarter of their nominal value at the time of subscription and, where applicable, the entire issue premium.

The surplus must be paid up in one or more instalments by decision of the President within five (5) years, either from the date of registration in the Commercial Company Registry or, in the case of an increase in capital, from the date on which the increase in capital becomes final.

Subscribers are notified of calls for funds by registered letter with acknowledgement of receipt sent at least fifteen (15) days before the date fixed for each payment. Payments shall be made either at the registered office or at any other place indicated for that purpose.

Any delay in the payment of the sums due on the unpaid amount of the shares shall entail, ipso jure and without the need for any formality whatsoever, the payment of interest at the legal rate, from the due date, without prejudice to the personal action that the Company may take against the defaulting shareholder and to the enforcement measures provided for by law.

Article 10. FORME DES TITRES DE CAPITAL Article 10. FORM OF EQUITY SECURITIES

Les titres de capital émis par la Société sont obligatoirement nominatifs. Ils donnent lieu à une inscription en compte individuel dans les conditions et selon les modalités prévues par les dispositions législatives et réglementaires en vigueur.

The equity securities issued by the Company are exclusively in registered form. They shall be registered in an individual account under the conditions and according to the procedures provided for by the legislative and regulatory provisions in force.

Lorsque l’expression « titres de capital » est utilisée dans les présents statuts, sans plus de précision, elle s’entend au sens des dispositions de L. 212-1 du Code monétaire et financier.

When the term “equity securities” is used in these articles of association without more precision, it shall have the meaning set forth in article L. 212-1 of the French monetary and financial code.

Une attestation d’inscription en compte pourra être délivrée à l’associé qui en aura fait la demande.

A certificate of registration in the account shall be delivered to any shareholder who/which requests one.

Article 11. INDIVISIBILITE DES ACTIONS

Les actions sont indivisibles à l'égard de la Société.

Les propriétaires indivis d'actions sont tenus de se faire représenter auprès de la Société par un seul d'entre eux, considéré comme seul propriétaire ou par un mandataire unique. En cas de désaccord, le mandataire unique peut être désigné en justice à la demande du propriétaire indivis le plus diligent.

Le droit de vote attaché à une action appartient au nu- propriétaire, sauf pour les décisions concernant l’affectation des résultats, où il est réservé à l'usufruitier, sauf répartition différente décidée entre eux et notifiée par lettre recommandée avec demande d'avis de réception à la Société.

Article 11. INDIVISIBILITY OF SHARES

The shares are indivisible with regard to the Company.

Joint owners of shares are required to be represented vis-à-vis the Company by one of them, who is considered to be the sole owner, or by a single proxy. In the event of a disagreement, the proxy may be appointed by court order at the request of the most diligent co-owner.

The right to vote attached to a dismembered share belongs to the naked owner for all shareholders” decisions, except for those concerning the allocation of the results which belongs to the usufructuary exclusively, unless otherwise decided between them and notified by registered letter with acknowledgement of receipt to the Company.

TITRE III

TITRES - CESSION ET TRANSMISSION - DROITS ET OBLIGATIONS DES ASSOCIES

Article 12. CESSION ET TRANSMISSION DES TITRES DE CAPITAL

Les actions ne sont négociables qu'après l'immatriculation de la Société au registre du commerce et des sociétés.

En cas d'augmentation du capital, les actions et autres titres de capital sont négociables à compter de leur émission effective.

Les actions et autres titres de capital émis par la Société demeurent négociables après la dissolution de la Société et jusqu'à la clôture de la liquidation.

Le transfert de propriété de titres de capital résulte de l'inscription de ces titres au compte du cessionnaire ou dans un dispositif d'enregistrement électronique partagé dans les conditions fixées par les dispositions légales et règlementaires.

Les actions et autres titres de capital émis par la Société sont librement cessibles.

La location des actions de la Société est interdite.

TITLE III

SHARES- TRANSFER AND TRANSMISSION - RIGHTS AND OBLIGATIONS OF SHAREHOLDERS

Article 12. ASSIGNMENT AND TRANSFER OF THE EQUITY SECURITIES

The shares may be traded only after registration of the Company at the trade and company register).

In the event of a capital increase, shares and other securities shall be negotiable from and after effective issue thereof.

Shares and other equity securities shall remain negotiable after the Company’s dissolution and until the liquidation is concluded.

The transfer of ownership of equity securities results from the registration of these securities in the account of the transferee or in a shared electronic recording system under the conditions set by legal and regulatory provisions.

Shares and other equity securities issued by the Company shall be freely transferable.

Rental of the Company’s shares is prohibited.

Article 13. DROITS ET OBLIGATIONS ATTACHES DES ASSOCIES

Chaque action donne droit à une fraction de l'actif social proportionnellement au nombre d'actions existantes ; elle donne droit à une voix dans tous les votes et délibérations.

Les associés ne supportent les pertes qu'à concurrence de leurs apports.

Les droits et obligations attachés aux titres de capital les suivent au cours de leur transmission.

La propriété d'une action emporte de plein droit l'adhésion aux statuts et aux décisions régulièrement prises par les associés.

Article 13. RIGHTS AND OBLIGATIONS ATTACHED TO SHARES

Each share shall give the right to a fraction of the corporate assets in proportion to the number of existing shares; it shall give the right to one vote in all votes and deliberations.

The shareholders shall bear the losses only to the extent of their contributions.

The rights and obligations attached to shares and other equity securities shall follow them in whatever hands they may pass.

Ownership of a share shall automatically entail adherence to the articles of association and to the decisions duly passed by the shareholders.

Chaque fois qu’il sera nécessaire de posséder plusieurs titres de capital pour exercer un droit quelconque, en cas d’échange, de regroupement ou d’attribution de titres, en conséquence d’augmentation ou de réduction de capital, de fusion ou autre opération sociale, les propriétaires de titres isolés ou en nombre inférieur à celui requis ne peuvent exercer ces droits qu’à la condition de faire leur affaire personnelle du regroupement et, éventuellement, de l’achat ou de la vente du nombre de titres nécessaires.

Whenever it is necessary to own several equity securities in order to exercise any right, in the event of an exchange, consolidation or allocation of shares, as a result of a capital increase or reduction, merger or other corporate transaction, the owners of single shares or a smaller number of shares than that required may only exercise these rights on condition that they personally arrange for the consolidation and, if necessary, the purchase or sale of the necessary number of shares.

TITRE III

ADMINISTRATION ET CONTROLE DE LA SOCIETE

TITLE III

ADMINISTRATION AND CONTROL OF THE COMPANY

Article 14. PRESIDENT

La Société est représentée, dirigée et administrée par un président, personne physique ou morale, associé ou non de la Société (le « Président »).

14.1 Nomination

En cours de vie sociale, le Président est nommé ou renouvelé dans ses fonctions par décision collective des associés pour une durée déterminée ou non. A défaut de stipulation expresse, le Président est nommé ou renouvelé dans ses fonctions pour une durée indéterminée.

Le Président est toujours rééligible.

En cas de nomination d'une personne morale en qualité de Président, elle peut désigner une personne de son choix en qualité de représentant permanent pour la durée de son mandat de Président. A défaut de désignation expresse, le représentant légal de la personne morale, Président de la Société, est désigné de plein droit, représentant permanent. En cas de décès, démission ou révocation du représentant permanent, la personne morale doit en informer la Société dans les plus brefs délais, par tout moyen, et donner l'identité du nouveau représentant permanent.

Article 14. PRESIDENT

The Company shall be represented, managed, and directed by a president, a natural person or a legal entity, shareholder or non-shareholder of the Company (the “President”).

14.1 Appointment

During the Company’s duration, the President is appointed or renewed in his/her/its functions by a collective decision of the shareholders. Unless provided otherwise, the President is appointed or renewed for an unlimited duration.

The President is always re-eligible.

In the event of the appointment of a legal entity as President, it may appoint a person of its choice as permanent representative for the duration of its mandate as President. In the absence of an express appointment, the legal representative of the legal entity, the President of the Company, shall be appointed as permanent representative by operation of law. In the event of the death, resignation or dismissal of the permanent representative, the legal entity must inform the Company as soon as possible, by any means, and give the identity of the new permanent representative.

Le dirigeant ou représentant permanent de la personne morale est soumis aux mêmes conditions et obligations et encourt les mêmes responsabilités civile et pénale que s'il était président en son nom propre, sans préjudice de la responsabilité de la personne morale qu'il représente.

14.2 Pouvoirs du Président

Le Président assume, sous sa responsabilité, la direction de la Société. Il la représente dans ses rapports avec les tiers, et dispose des pouvoirs les plus étendus pour agir en toute circonstances au nom de la Société dans la limite de l’objet social et des pouvoirs expressément dévolus par la loi et les statuts à l'associé unique ou à la collectivité des associés et des limitations de pouvoirs résultant des présents statuts.

Les décisions de la collectivité des associés limitant ses pouvoirs sont inopposables aux tiers.

Dans ses rapports avec les tiers, le Président engage la Société même par les actes qui ne relèvent pas de l’objet social, à moins qu’elle ne prouve que le tiers savait que l’acte dépassait cet objet ou qu’il ne pouvait l’ignorer, compte tenu des circonstances, étant exclu que la seule publication des statuts suffise à constituer cette preuve.

A l'égard de l'associé unique ou des Associés, et sans que cette clause puisse être opposée aux tiers, les opérations suivantes ne pourront être réalisées par le président qu'avec le consentement préalable donné par l'associé unique ou par les Associés :

- prendre tout engagement ou tout acte qui pourrait affecter, en toutes circonstances, l'exécution par la société de ses obligations qui résultent des contrats dont la signature a été préalablement autorisée par l’associé unique ou par l’unanimité des Associés (les ʺDocuments d’Opérationsʺ) ou l'exercice par la société de ses droits aux termes des Documents d'Opérations ou qui pourrait affecter la libre disposition de tout ou partie des Equipements, autre que les engagements ou actes prévus dans les Documents d'Opérations,

- modifier les termes ou résilier tout Document d'Opérations autrement qu'aux termes des dispositions prévues dans tout Document d'Opérations.

The manager or permanent representative of this legal entity is subject to the same conditions and obligations and exposed to the same civil and criminal liabilities as if he/she would have been president in name, without prejudice of joint and several liability of the legal entity that he/she represents.

14.2 Powers of the President

The President assumes under his/her/its responsibility, the management of the Company. He/she/it represents the Company in its dealings with third parties and has the broadest powers to act in all circumstances in the Company’s name within the limit of the corporate purpose and the powers expressly vested by law and the articles of association in the sole member or in the body of members and the limitations of powers resulting from these articles of association.

Shareholders’ decisions limiting its/his/hers powers shall not be enforceable against third parties.

With respect to third parties, the Company shall be bound by decisions taken by the president including decisions that exceed the corporate purpose, unless the Company can prove that the third party knew that the act went beyond the corporate purpose or that he could not ignore it, given the circumstances. Publication of the articles of association does not, in it of itself, does not constitute proof of such knowledge.

With respect to the sole shareholder or the Shareholders, and without such clause being enforceable against third parties, the following transactions cannot be carried out by the president unless they have been approved by the sole shareholder or the Shareholders;

- contracting any commitment or any contract which could affect, in any circumstance, the performance by the company of its obligations resulting from the contracts which have been prior permitted by the sole shareholder or by the unanimity of Shareholders (the “Operation Documents”) or the exercise by the company of its rights pursuant to the Operation Documents or which would affect the free disposal of all or part of the Equipment, other than the undertakings provided for in the Operation Documents,

que cette clause puisse être opposée aux tiers, il est convenu que le président ne pourra entreprendre aucune action sortant du cadre de l'administration normale des affaires courantes sans y être autorisé par une décision préalable de l'associé unique ou par l'unanimité des Associés.

Le président est tenu d'informer l'associé unique ou les Associés dans les meilleurs délais avant tout dépôt d'une déclaration de cessation des paiements ou, plus généralement, tout acte visant à demander l'ouverture d'une procédure de redressement ou de liquidation judiciaire à l'encontre de la société.

Le Président peut consentir à tout mandataire de son choix toutes délégations de pouvoirs qu’il juge nécessaire, dans la limite de ceux qui lui sont conférés par la Loi et les présents statuts.

14.3 Cessation des fonctions

Le mandat de Président prend fin par la démission, la révocation ou l’arrivée du terme prévu lors de la nomination ou du renouvellement du Président.

Le mandat de Président prend fin également en cas de décès ou d’incapacité ou d’invalidité visée au sens des dispositions du 2° de l’article L. 341-4 du Code de la sécurité sociale de plus de trois (3) mois, s’il s’agit d’une personne physique, ou s’il s’agit d’une personne morale, au jour de sa dissolution.

Le Président peut démissionner de son mandat à la condition de notifier sa décision à la collectivité des associés, par lettre recommandée avec demande d’avis de réception ou par tout autre moyen permettant d’en rapporter la preuve au moins trois (3) mois avant la date d'effet de ladite décision, sauf acceptation par la collectivité des associés de réduire ce préavis.

other than as provided for in such Operation Document.

Furthermore, and as internal regulation, without such clause being enforceable against third parties, the president cannot carry out any action outside the scope of regular management of current affairs without being prior authorized by the sole shareholder or the unanimity of the Shareholders.

The president shall inform the sole shareholder or the unanimity of Shareholders prior to any declaration of cessation of payments or, more generally, any action intended to incur settlement or judicial liquidation of the company.

The President may grant to any proxy of his choice all delegations of powers he deems necessary, within the limits of those conferred on him by the Law and the present articles of association.

14.3 Termination of duties

The President’s term of office shall terminate by resignation, removal, or expiration of the term provided at the time of appointment or reappointment of the President.

The President’s term of office shall also terminate in case of death, disability, or invalidity for purposes of 2° of Article L 341-4 of the French health and social security code of more than three (3) months of the president, a natural person, or as a result of the dissolution of the legal entity president.

The President may resign from his office. His resignation shall be notified to the shareholders by registered letter or by any other by any written means allowing evidence thereof at least three (3) months before the effective date of said resignation date unless the shareholders agree to reduce this notice period.

qu’il soit nécessaire de justifier d’un motif quelconque, par décision collective des associés et sans qu’il puisse prétendre à une quelconque indemnité.

Si, pour quelque cause que ce soit, la Société se trouve dépourvue de Président, tout associé peut réunir les associés à seule fin de procéder à son remplacement.

being required to justify any cause and without the President being entitled to claim any indemnification whatsoever.

If, for any reason whatsoever, the Company does not have a President any shareholder may call a meeting of the shareholders for the sole purpose of replacing him/her/it.

Article 15. DIRECTEURS GENERAUX

Le Président peut être assisté dans ses fonctions par un ou plusieurs autre(s) dirigeant(s), personne(s) physique(s) ou morale(s), associé(s) ou non de la Société, qui prend(nent) le titre de directeur général.

15.1 Nomination

En cours de vie sociale, le directeur général est nommé ou renouvelé dans ses fonctions, sur proposition du Président par décision collective des associés pour une durée déterminée ou non. A défaut de stipulation expresse, le directeur général est nommé ou renouvelé dans ses fonctions pour une durée indéterminée.

Le directeur général est toujours rééligible.

En cas de nomination d'une personne morale en qualité de directeur général, elle peut désigner une personne de son choix en qualité de représentant permanent pour la durée de son mandat de directeur général. En cas de décès, démission ou révocation du représentant permanent, la personne morale doit en informer la Société dans les plus brefs délais, par tous moyens, et donner l'identité du nouveau représentant permanent.

Le dirigeant ou représentant permanent de la personne morale est soumis aux mêmes conditions et obligations et encourt les mêmes responsabilités civile et pénale que s'il était directeur général en son nom propre, sans préjudice de la responsabilité de la personne morale qu'il représente.

Article 15.GENERAL MANAGERS

The President may be assisted in his/her/its duties by one or more other officers, a natural person or a legal entity, shareholder or non-shareholder of the Company, who shall have the title of general manager.

15.1 Appointment

During the Company’s duration, the general manager is appointed or renewed in his/her/it functions upon proposal of the President by a collective decision of the shareholders. Unless provided otherwise, the general manager is appointed or renewed for an unlimited duration.

The general manager is re-eligible.

If a legal entity is appointed as general manager, the said legal entity may appoint one or several persons as permanent representatives, for the duration of its term of office as general manager. In case of dismissal, resignation or death of the permanent representative, the legal entity shall, without delay and by all means, inform the Company of the identity of a new permanent representative.

The managers or representatives of this legal entity are subject to the same conditions and obligations and exposed to the same civil and criminal liabilities as if they would have been general manager in name, without prejudice of joint and several liability of the legal entity that they represent.

15.2 Pouvoirs du directeur général

Sauf décision contraire de la collectivité des associés, le directeur général assume la direction générale de la Société et dispose des mêmes pouvoirs que le Président, et a, à titre habituel, le pouvoir d’engager la Société. A ce titre, le directeur général représente également la Société à l’égard des tiers, tout comme le Président.

A l'égard de l'associé unique ou des Associés, et sans que cette clause puisse être opposée aux tiers, les opérations suivantes ne pourront être réalisées par le directeur général qu'avec le consentement préalable donné par l'associé unique ou par les Associés :

- prendre tout engagement ou tout acte qui pourrait affecter, en toutes circonstances, l'exécution par la société de ses obligations qui résultent des Documents d'Opérations ou l'exercice par la société de ses droits aux termes des Documents d’Opération ou qui pourrait affecter la libre disposition de tout ou partie des Equipements, autre que les engagements ou actes prévus dans les Documents d'Opérations,

- modifier les termes ou résilier tout Document d'Opérations autrement qu'aux termes des dispositions prévues dans tout Document d'Opérations.

En outre, toujours à titre de règlement intérieur, et sans que cette clause puisse être opposée aux tiers, il est convenu que le directeur général ne pourra entreprendre aucune action sortant du cadre de l'administration normale des affaires courantes sans y être autorisé par une décision préalable de l'associé unique ou par l'unanimité des Associés.

Le directeur général est tenu d'informer l'associé unique ou les Associés dans les meilleurs délais avant tout dépôt d'une déclaration de cessation des paiements ou, plus généralement, tout acte visant à demander l'ouverture d'une procédure de redressement ou de liquidation judiciaire à l'encontre de la société.

Le directeur général peut consentir à tout mandataire de son choix toutes délégations de pouvoirs qu’il juge nécessaire, dans la limite de ceux qui lui sont conférés par la Loi et les statuts.

15.2 Powers of the general manager

Unless otherwise decided by the shareholders, the general manager shall be responsible for general management of the Company and shall have the same authority as the President, and, as a normal practice, the authority to bind the Company. As such, the general manager shall also represent the Company vis-à-vis third parties, just like the President.

With respect to the sole shareholder or the Shareholders, and without such clause being enforceable against third parties, the following transactions cannot be carried out by the general manager unless they have been approved by the sole shareholder or the Shareholders;

- contracting any commitment or any contract which could affect, in any circumstance, the performance by the company of its obligations resulting from the contracts which have been prior permitted by the Operation Documents or the exercise by the company of its rights pursuant to the Operation Documents or which would affect the free disposal of all or part of the Equipment, other than the undertakings provided for in the Operation Documents,

- modify or terminate any Operation Document other than as provided for in such Operation Document.

Furthermore, and as internal regulation, without such clause being enforceable against third parties, the general manager cannot carry out any action outside the scope of regular management of current affairs without being prior authorized by the sole shareholder or the unanimity of the Shareholders.

The general manager shall inform the sole shareholder or the unanimity of Shareholders prior to any declaration of cessation of payments or, more generally, any action intended to incur settlement or judicial liquidation of the company.

The general manager may grant to any proxy of his/her/it choice any delegation of powers, it deems necessary, within the limits of the powers conferred to him/her/it by Xxx and the articles of association.

15.3 Cessation des fonctions

Le mandat de directeur général prend fin par la démission, la révocation ou l’expiration du terme prévu lors de la nomination ou le renouvellement.

Ce mandat prend fin également en cas de décès, s’il s’agit d’une personne physique, ou s’il s’agit d’une personne morale, au jour de sa dissolution.

Le directeur général peut démissionner de son mandat à la condition de notifier sa décision au Président, par lettre recommandée avec demande d’avis de réception ou par tout autre moyen écrit permettant d’en rapporter la preuve au moins trois (3) mois avant la date d'effet de ladite décision, sauf acceptation par le Président de réduire ce préavis.

Le directeur général peut être révoqué à tout moment, sans qu’il soit nécessaire de justifier d’un motif quelconque, par décision collective des associés et sans que le directeur général révoqué puisse prétendre à une quelconque indemnité.

La cessation des fonctions du Président, pour quelque motif que ce soit, ne met pas fin au mandat du directeur général.

15.3 Termination of duties

The general manager’s term of office shall terminate by resignation, removal, or expiration of the term provided at the time of appointment or reappointment.

This term of office shall also terminate in the event of death, if the general manager is a natural person, or, in the case of a legal entity, on the day of its dissolution.

The general manager may resign from his/her/its office. His/her/it resignation shall be notified to the President, by registered letter or by any other written means allowing evidence thereof, at least (3) months before the resignation date of effect, unless the President agrees to reduce the notice period.

The general manager may be removed at any time by a collective decision of the shareholders, without being required to justify any cause and without the general manager being entitled to claim any indemnification whatsoever.

Termination of the President’s office for any reason shall not have the effect of terminating the office of the general manager.

Article 16.REMUNERATION DES DIRIGEANTS Article 16. COMPENSATION OF THE

CORPORATE OFFICERS

La rémunération du Président et celle des autres dirigeants est déterminée par la collectivité des associés. Elle peut être fixe ou proportionnelle ou à la fois fixe et proportionnelle.

En outre, le Président et les autres dirigeants, qu’ils soient rémunérés ou non, peuvent prétendre au remboursement, sur présentation des justificatifs, des frais de mission, de représentation et de déplacement, engagés dans l’exercice de leur mandat.

The remuneration of the President and that of the other corporate officers shall be determined by the general meeting of shareholders. It may be fixed or proportional or both fixed and proportional.

In addition, the President and the other officers, whether or not they are remunerated, may claim reimbursement of mission, representation and travel expenses incurred in the exercise of their office, upon presentation of receipts.

Article 17.COMMISSAIRES AUX COMPTES

Un ou plusieurs commissaires aux comptes sont nommés et exercent leur mission de contrôle conformément à la loi, si les conditions légales requises pour une telle nomination sont remplies par la Société ou si les associés souhaitent procéder à une telle nomination.

Article 17.AUDITORS

One or more auditors shall be appointed and shall perform their auditing duties in accordance with the French law, if the legal requirements for such an appointment are fulfilled by the Company or if the shareholders wish to make such an appointment.

Article 18. REPRESENTATION SOCIALE

Lorsque c’est applicable et conformément aux dispositions de l’article L.2312-76 du Code du travail, les membres de la délégation du personnel du comité social et économique, s’il en existe un, exercent les droits définis à la sous-section visée par ledit article auprès du Président de la Société.

Lorsque c’est applicable et conformément aux dispositions de l’article L.2312-77 du Code du travail, deux membres du comité social et économique, désignés par ce comité et appartenant l’un à la catégorie des cadres techniciens et agents de maîtrise, l’autre à la catégorie des employés et ouvriers, peuvent assister aux assemblées générales. Ils sont entendus, à leur demande, lors de toutes les délibérations requérant l’unanimité des associés.

Le cas échéant, le comité social et économique peut requérir l’inscription de projets de résolutions à l’ordre du jour des assemblées générales dans les conditions visées à l’article 21.3 des présents statuts.

Article 18. SOCIAL REPRESENTATION

Where applicable and in accordance with the provisions of Article L.2312-76 of the French labour code, the members of the staff delegation of the social and economic committee, if there is one, exercise the rights defined in the subsection referred to in the said article with the President of the Company.

Where applicable and in accordance with the provisions of Article L.2312-77 of the French labour code, two members of the social and economic committee, designated by this committee and belonging to the category of managers, technicians and supervisors, and the other to the category of employees and workers, may attend general meetings. They are heard, at their request, during all deliberations requiring the unanimity of the shareholders.

If necessary, the social and economic committee may request the inclusion of draft resolutions on the agenda of the general meetings under the conditions set out in Article 21.3 of these articles of association.

TITRE V

DECISIONS COLLECTIVES DES ASSOCIES

TITLE V SHAREHOLDERS DECISIONS

Article 19. COMPETENCE DES ASSOCIES Article 19. AUTHORITY OF THE

SHAREHOLDERS

Outre ce qui est prévu dans les statuts (notamment les décisions visées aux Articles 2, 14.2 et 15.2), les associés sont seuls compétents pour prendre les décisions suivantes :

- Augmentation, réduction ou amortissement du capital social ;

- Fusion, scission, apport partiel d’actif ;

- Dissolution et prorogation de la Société ;

- Liquidation de la Société ;

- Approbation des comptes annuels et des conventions réglementées, affectation des résultats ;

- Nomination des commissaires aux comptes ;

- Transformation de la Société en société d’une autre forme ;

In addition to the provisions of these Articles (including but not limited to the provisions of Article 2, 13.2 and 14.2), only the shareholders shall have authority to take the following decisions:

- Increase, decrease, or amortization of the share capital;

- Xxxxxx, xxxxxxxx, partial contribution of assets;

- Dissolution and extension of the Company;

- Winding up of the Company;

- Approval of annual accounts and approval of the regulated agreements, allocation of the profit or loss;

- Appointment of the auditors;

- Conversion of the Company into another corporate form;

- Nomination, renouvellement, révocation et rémunération des dirigeants sociaux ;

- Modification des statuts, à l’exception de celle résultant d’un transfert de siège social décidé par le Président ; et,

- d’une manière générale, toute décision relevant de la compétence exclusive de la collectivité des associés en vertu d’une disposition légale impérative et des stipulations des présents statuts.

Les décisions prises conformément à la loi et aux statuts obligent tous les associés.

Lorsque la Société ne comprend qu’un associé, celui-ci exerce les pouvoirs dévolus à la collectivité des associés sous forme de décision(s) unilatérale(s).

L’associé unique ne peut pas déléguer ses pouvoirs. Toutefois, il peut déléguer sa compétence en vue de réaliser toute émission de titres de capital.

- Appointment, reappointment, dismissal and compensation of the corporate officers;

- Amendment of these articles of association except for those resulting from a transfer of the registered office decided by the President; and,

- generally, decision falling within the exclusive competence of the shareholders as provided for by a mandatory provision of the Law and by the provisions of these articles of association.

Decisions taken in compliance with law and these articles of association shall be binding on all shareholders.

Where the Company has only one shareholder, he/she/it shall exercise the authority reserved to the shareholders in the form of unilateral actions.

The sole shareholder cannot delegate his/her/its authority. However, it may delegate its authority to issue any equity securities.

Article 20. MODE DE DELIBERATIONS - REGLES DE MAJORITE

Les décisions relevant de la compétence de la collectivité des associés sont adoptées selon les modalités suivantes :

20.1 Mode de délibérations

20.1.1 Les décisions collectives sont prises à l'initiative du Président, ou du liquidateur pendant la période de liquidation (ci-après l’« Auteur de la consultation »).

L’assemblée peut également être convoquée par un ou plusieurs associés disposant de plus d’un tiers du capital social et/ou des droits de vote.

Le commissaire aux comptes, s’il en a été désigné un, peut convoquer les associés dans les conditions fixées à l’article R. 225-162 du Code de commerce.

Article 20. DECISION-MAKING PROCESSES - MAJORITY RULES

Decisions falling within the authority of the shareholders shall be approved as follows:

20.1 Decisions-making process

20.1.1 Collective decisions shall be taken on the initiative of the President, or the liquidator during the liquidation period (hereinafter the "Author of the consultation").

The general meeting may also be convened by one or more shareholders holding more than one third of the share capital and/or the voting rights.

The auditor, if one has been appointed, may convene the shareholders under the conditions set out in Article R. 225-162 of the French commercial code.

20.1.2 Les décisions collectives des associés sont prises en assemblée générale, y compris par voie de téléconférence téléphonique ou audiovisuelle ou de tout autre moyen de télécommunication permettant l’identification des associés participant à l’assemblée à distance.

Elles peuvent également résulter du consentement de tous les associés, exprimé dans un acte sous seing privé ou faire l’objet d’une consultation écrite.

Lorsque la Société ne comprend qu’un seul associé, toutes ses décisions seront prises dans les formes prévues pour les décisions unanimes.

20.1.3 Le commissaire aux comptes, s’il en a été désigné un, est convoqué par lettre recommandée avec accusé de réception à toute assemblée générale des associés, quelles que soient les modalités de sa tenue dans les mêmes délais que les associés.

En cas de décision prise par acte sous seing privé ou par consultation écrite, il est informé par tout moyen, même verbal, préalablement à la signature de l’acte ou de la consultation écrite et tous les documents fournis aux associés lui seront communiqués.

20.1.4 L’ordre du jour des décisions collectives est arrêté par l’Auteur de la consultation.

20.2 Règles de majorité

Pour le calcul des majorités visées ci-dessous, sont pris en compte le vote des associés participant, personnellement ou par mandataire aux décisions collectives.

20.2.1 Décisions prises à l’unanimité.

L’unanimité des associés est requise pour les décisions suivantes :

­ Décisions ayant pour effet d’augmenter les engagements des associés ;

­ Changement de nationalité de la Société ;

­ Décisions relatives à la modification et à l’adoption des clauses statutaires définies

20.1.2 Shareholders’ decisions shall be taken in a general meeting, including by telephone or audio-visual conference call or any other means of telecommunication which allows the identification of shareholders participating in the remote meeting.

They may also result from the consent of all the shareholders, expressed in a private document or be the subject of a written consultation.

Where the Company has only one shareholder, all its/his decisions shall be taken in the manner provided for unanimous decisions.

20.1.3 The auditor, if one has been appointed, shall be convened by registered letter with acknowledgement of receipt to any general meeting, regardless of the manner in which it is held within the same time limit as the shareholders.

In the case of a decision taken by private deed or by written consultation, the auditor shall be informed by any means, even verbal, prior to the signature of the deed or written consultation and all documents provided to the shareholders shall be communicated to him/her/it.

20.1.4 The agenda for collective decisions shall be set by the Author of the consultation.

20.2 Majority rules

For the calculation of the majorities referred to below, the votes of the shareholders participating, personally or by proxy, in the collective decisions shall be taken into account.

20.2.1 Decisions taken unanimously.

Unanimity of the shareholders is required for the following decisions:

­ Decisions having the effect of increasing the liabilities of the shareholders;

­ Change of nationality of the Company;

­ Decisions relating to the modification and adoption of the clauses of the articles of

à l’article L. 227-19 alinéa 1 du Code de commerce ; et

­ d’une manière, toute décision collective des associés devant être prise à l’unanimité des associés en vertu d’une disposition légale impérative.

20.2.2 Décisions prises à la majorité simple.

Les décisions autres que celles visées à l’Article

20.2.1 devront, pour être valables, être prises à la majorité des voix attachées aux actions ayant droit de vote, étant précisé que les actions pour lesquelles l’associé n’a pas pris part au vote, s’est abstenu ou a voté blanc ou nul, ne sont pas prises en compte.

association defined in Article L. 227-19 paragraph 1 of the commercial code; and

­ In any case, any collective decision of the shareholders that must be taken unanimously by virtue of a mandatory legal provision.

20.2.2 Decisions taken with a simple majority.

Decisions other than those referred to in Article 20.2.1 shall, in order to be valid, be taken by a majority of the votes attached to the shares entitled to vote, it being specified that shares in respect of which the shareholder has not taken part in the vote, has abstained or has voted blank or invalid, shall not be taken into account.

Article 21. ASSEMBLEE GENERALE

21.1 Convocation

La convocation aux assemblées générales est faite par tout moyen de communication écrite permettant d’en rapporter la preuve (y compris par courriel) au moins dix

(10) jours ouvrables avant la date de la réunion et mentionne les date, heure, lieu et ordre du jour de la réunion ainsi que, le cas échéant, les conditions dans lesquelles les associés peuvent voter à distance.

Toutefois, l'assemblée générale se réunit valablement, sur convocation verbale et sans délai, si tous les associés sont présents ou représentés.

Les assemblées générales sont réunies au siège social ou en tout autre lieu indiqué dans la convocation.

21.2 Participation aux assemblées

Tout associé a le droit de participer aux assemblées générales et aux délibérations, personnellement ou par mandataire, quel que soit le nombre d’actions dont il est titulaire, dès lors que ses actions sont inscrites en compte à son nom dans les livres de la Société ou dans un dispositif électronique partagé au jour de l’assemblée.

Article 21. GENERAL MEETING

21.1 Notice

Notice of general meetings shall be given by any means of written communication capable of producing evidence thereof (including by email) at least ten (10) business days before the date of the meeting and shall mention the date, time, place and agenda of the meeting as well as, where applicable, the conditions under which the shareholders may vote by distance.

However, the general meeting meet validly upon a verbal notice and without delay if all the shareholders are present or represented.

General meetings shall be held at the registered office or at any other place indicated in the notice of meeting.

21.2 Participation in general meetings

Any shareholder shall have the right to participate in general meetings and deliberations, personally or by proxy, regardless of the number of shares he holds, provided that his shares are registered in his name in the Company’s books or on a shared electronic recording system on the day of the meeting.

S’il en est décidé ainsi par l’Auteur de la consultation, tout associé peut participer et voter, à l’assemblée générale par téléconférence téléphonique ou audiovisuelle ou par tout autre moyen de télécommunication permettant son identification.

21.3 Inscription à l’ordre du jour de l’assemblée de projets de décisions

Un ou plusieurs associés représentant, individuellement ou collectivement, au moins le tiers du capital social ainsi que le comité social et économique ont la faculté de requérir l’inscription à l’ordre du jour de l’assemblée générale de projets de décisions par tous moyens de communication écrite permettant d’en rapporter la preuve.

La demande d'inscription de projets de décisions, accompagnée du texte des projets de décisions, doit être reçue par l’Auteur de la consultation trois (3) jours au moins avant la date fixée pour la décision des associés.

L’Auteur de la consultation en accuse immédiatement réception à l’auteur de la demande par tous moyens de communication écrite permettant d’en rapporter la preuve.

21.4 Représentation des associés

Un associé peut se faire représenter à l'assemblée par un autre associé ou l’Auteur de la consultation. Chaque associé peut disposer d'un nombre illimité de mandats.

Les mandats peuvent être communiqués à la Société par tous moyens écrits permettant d’en rapporter la preuve (y compris par courriel). Pour être pris en compte, ils devront parvenir à la Société au plus tard la veille de l’assemblée.

Tout mandat, sans indication de mandataire, reçu par la Société en vue du vote à une assemblée générale sera réputé donné au président de l’assemblée, lequel sera tenu, dans ce cas, de voter dans le sens indiqué sur le mandat ou, à défaut de précisions dans celui-ci, dans le sens favorable aux décisions agréées par l’Auteur de la consultation.

If so decided by the Author of the consultation, any shareholder may participate and vote at the general meeting by telephone or audio-visual teleconference or by any other means of telecommunication allowing his/her/it identification.

21.3 Inclusion on the agenda of proposed decisions

One or more shareholders representing, alone or together at least one third of the share capital, as well as the social and economic committee, shall have the right to require inclusion on the agenda of a general meeting of proposed decisions by any written means allowing evidence thereof.

The request to include proposed decisions, accompanied by the text the proposed decisions, shall be received by the Author of the consultation at least three (3) days prior to the date set for the general meeting.

The Author of the consultation shall immediately acknowledge receipt thereof to the person making the request by any written means allowing evidence thereof.

21.4 Representation of the shareholders

A shareholder may be represented at a general meeting by another shareholder or the Author of the consultation. Each shareholder may hold an unlimited number of proxies.

Proxies may be communicated to the Company by any written means that can be proven (including by e- mail). To be taken into account, they must reach the Company at the latest on the day before the meeting.

Any mandate, without indication of a proxy, received by the Company with a view to voting at a general meeting will be deemed to have been given to the president of the meeting, who will be obliged, in this case, to vote in the direction indicated on the mandate or, in the absence of details in the latter, in the direction favourable to the decisions approved by the Author of the consultation.

21.5 Vote à distance

Tout associé peut voter à distance au moyen d'un formulaire établi par la Société et précisant les modalités de son utilisation et de son renvoi à la Société.

Le formulaire est adressé ou remis à tout associé qui en a fait la demande.

Le vote exprimé dans le formulaire doit, pour être pris en compte, parvenir à la Société au plus tard la veille de l’assemblée.

En cas de vote à distance au moyen d’un formulaire de vote électronique ou d’un vote par procuration donné par signature électronique, celui-ci s’exerce sous la forme d’une signature électronique « simple ».

21.6 Tenue de l’assemblée

L'assemblée générale est présidée par l’Auteur de la Consultation, et, en son absence, par un associé désigné à la majorité des voix dont disposent les associés présents à l'assemblée.

Lorsque les décisions sont prises par voie de téléconférence téléphonique ou audiovisuelle ou de tout autre moyen de télécommunication permettant l’identification des associés, elles sont réputées être prises au lieu où se trouve le président de séance.

A moins que le procès-verbal ne soit signé par tous les associés présents et les mandataires, il est établi une feuille de présence contenant les mentions visées à l’article R. 225-95 du Code de commerce.

La feuille de présence est signée par tous les associés présents et les mandataires des associés représentés et est certifiée exacte par le président de séance. Les pouvoirs des associés représentés et les formulaires de vote à distance sont annexés à la feuille de présence.

21.5 Remote vote

Any shareholder may vote remotely on a form prepared by the Company setting forth the terms and conditions of use thereof and the sending thereof to the Company.

The remote voting form shall be sent or delivered to any shareholder who/which asks for one.

The vote expressed in the form, to be taken into consideration, must reach the Company at the latest the day before the general meeting.

In the event of a remote vote, through an electronic voting form, or a vote by proxy given by electronic signature, it shall be exercised in the form of a simple electronic signature.

21.6 Conduct of the general meeting

The general meeting shall be chaired by the Author of the consultation or, in the absence thereof, by a shareholder chosen by a majority of the votes held by the shareholders attending the meeting.

Where decisions are taken by telephone or audio- visual conference call or any other means of telecommunication allowing the identification of the shareholders, they shall be deemed to be taken at the place where the president of the meeting is located.

Unless the minutes are signed by all the attending shareholders present the representatives, an attendance sheet shall be drawn up containing the information referred to in Article R. 225-95 of the French commercial code.

The attendance sheet is signed by all shareholders present and the proxy of the shareholders represented and is certified true and correct by the president of the meeting. The proxy forms and the remote voting forms shall be annexed to the attendance sheet.

Article 22.CONSULTATIONS ECRITES

Les associés disposent d'un délai maximal de huit (8) jours à compter de la notification par l’Auteur de la consultation du texte des décisions proposées et des documents nécessaires à leur information pour émettre leur vote.

Article 22. WRITTEN CONSULTATIONS

Shareholders shall have a maximum of eight (8) days from the notification by the Author of the consultation of the text of the proposed resolutions and the documents required for their information to express their vote.

Le vote est formulé sous le texte des décisions proposées et, pour chaque décision, par les mots « oui » ou « non » ou « abstention ».

La réponse dûment datée et signée (le cas échéant par un procédé de signature électronique simple) par l'associé est adressée à l’Auteur de la consultation, par tout moyen écrit permettant d’en rapporter la preuve (y compris par xxxxxxxx).

Tout associé n’ayant pas répondu dans le délai visé ci- dessus est considéré comme s’étant abstenu.

L’Auteur de la consultation pourra constater les résultats de la consultation écrite dès qu’il aura obtenu les réponses de tous les associés et ce sans attendre l’expiration du délai de huit (8) jours.

The vote shall be expressed under the text of the proposed resolutions and, for each resolution, by the words “yes” or “no” or “abstention”.

The response, duly dated and signed (if necessary, by a simple electronic signature process) by the shareholder, is sent to the Author of the consultation, by any written means that can be used as proof (including email).

Any shareholder who/which has not responded within the time limit referred to above shall be deemed to have abstained.

The Author of the consultation may record the result of the written consultation once it/she/he receives all the answers of shareholders, without waiting for the expiration of the eight (8) days deadline.

Article 23.DÉCISIONS PRISES PAR ACTE SOUS SEING PRIVÉ

Les décisions collectives peuvent également résulter du consentement unanime des associés exprimé dans un acte sous seing privé signé par tous les associés, le cas échéant par un procédé de signature électronique simple.

Article 23. DECISIONS TAKEN BY A PRIVATE DEED

Shareholders’ decisions may also result from unanimous consent of the shareholders set forth in a private deed signed by all the shareholders, if necessary, by a simple electronic signature process.

Article 24.PROCES-VERBAUX

24.1 Les décisions collectives des associés, sont constatées par des procès-verbaux retranscrits sur un registre spécial coté et paraphé dans les conditions prévues pour les sociétés anonymes. Il peut également être tenu sous forme électronique. Dans ce cas, les procès-verbaux des décisions collectives sont signés par un procédé de signature électronique « simple ».

24.2 Les procès-verbaux des décisions collectives prises en assemblées générales sont signés, le cas échéant par un procédé de signature électronique

« simple », par le président de l’assemblée et un associé participant à l’assemblée.

Article 24. MINUTES

24.1 The collective decisions of the shareholders shall be recorded in minutes transcribed in a special register which shall be listed and initialed under the conditions laid down for “sociétés anonymes”. It may also be kept in electronic form. In this case, the minutes of the collective decisions shall be signed by a "simple" electronic signature procedure.

24.2 The minutes of collective decisions taken in general meetings shall be signed, if necessary, by a "simple" electronic signature process, by the president of the meeting and a shareholder participating in the meeting.

Ils doivent indiquer l’identité des associés participant aux décisions (sauf s’il est établi une feuille de présence), le mode de délibération, le lieu et la date de la réunion, les documents et rapports soumis à discussion, un exposé des débats, le texte des décisions mises aux voix et le résultat des votes.

24.3 Les consultations écrites sont constatées dans un procès-verbal établi et signé par l’Auteur de la consultation, le cas échéant par un procédé de signature électronique « simple » ; ce procès- verbal mentionne l’utilisation de cette procédure et contient en annexe les réponses des associés.

24.4 Lorsque les décisions collectives sont prises par acte sous seing privé, l’acte constatant lesdites décisions est signé (le cas échéant par un procédé de signature électronique « simple ») par tous les associés ou l’associé unique lorsque la Société ne comprend qu’un seul associé.

They shall indicate the identity of the shareholders participating in the decisions (unless an attendance sheet is drawn up), the method of deliberation, the place and date of the meeting, the documents and reports submitted for discussion, a statement of the debates, the text of the decisions put to the vote and the result of the votes.

24.3 Written consultations shall be recorded in minutes drawn up and signed by the Author of the consultation, if necessary, by a "simple" electronic signature procedure; these minutes shall mention the use of this procedure and shall contain the shareholders' replies in an annex.

24.4 Where collective decisions are taken by private document, the document recording the said decisions shall be signed (if necessary, by a "simple" electronic signature procedure) by all the shareholders or by the sole shareholder where the company has only one shareholder.

Article 25. DROIT D’INFORMATION DES ASSOCIES Article 25. SHAREHOLDERS’ RIGHT TO

INFORMATION

Quel qu’en soit le mode, tout associé a le droit d’obtenir, avant toute consultation, communication des documents nécessaires pour lui permettre de se prononcer en connaissance de cause et de porter un jugement sur la gestion et le contrôle de la Société.

Regardless of the form, any shareholder shall have the right, before any shareholders’ consultation, to obtain the documents necessary to enable him/her/it to make an informed decision and reach a judgment on the Company’s management and control.

TITRE VI

EXERCICE SOCIAL - COMPTES SOCIAUX

TITLE VI

FISCAL YEAR - FINANCIAL STATEMENTS

Article 26. EXERCICE SOCIAL

L'exercice social commence le 1er janvier pour se terminer le 31 décembre de chaque année.

Par exception, le premier exercice social comprend le temps écoulé depuis l'immatriculation de la Société au registre du commerce et des sociétés jusqu'au 31 décembre 2021.

Article 26. FISCAL YEAR

The fiscal year shall begin on 1st January and end on

31st December of each year.

By exception, the first fiscal year includes the time from the registration of the Company in the registre du commerce et des sociétés (trade and company register) until 31 December 2021.

Article 27. INVENTAIRE - COMPTES SOCIAUX Article 27. INVENTORY-FINANCIAL

STATEMENTS

Il est tenu une comptabilité régulière des opérations sociales conformément aux lois et usages du commerce.

Regular accounting books and records of Company transactions shall be kept in accordance with applicable law and commercial usage.

A la clôture de chaque exercice, le Président dresse l'inventaire des divers éléments de l'actif et du passif existant à cette date. Il établit, sauf dispense, le rapport de gestion sur la situation de la Société pendant l'exercice écoulé.

Tous ces documents sont mis à la disposition du commissaire aux comptes, s’il en a été désigné un, dans les conditions prévues par la loi.

Ces documents sont soumis chaque année à l’approbation des associés, dans xxx xxx (6) mois de la clôture de l’exercice.

At the end of each fiscal year, the President draws up an inventory of the various assets and liabilities existing at that date. It prepares, unless exempted, the management report on the Company's situation during the past fiscal year.

All such documents shall be made available to the auditors, if any, on the terms and conditions provided by law.

Such documents shall be subject each year to approval by the shareholders within six (6) months of the end of the fiscal year.

Article 28. AFFECTATION DU RESULTAT

Le bénéfice distribuable est déterminé conformément aux dispositions législatives et réglementaires en vigueur, et conformément aux présents statuts.

Après approbation des comptes et constatation de l'existence d’un bénéfice distribuable, les associés déterminent la part de ce bénéfice qui leur est attribuée sous forme de dividendes.

S'il y a lieu, les associés affectent la part non distribuée du bénéfice de l'exercice dans les proportions qu'ils déterminent, soit à un ou plusieurs comptes de réserves, généraux ou spéciaux, ou soit au compte « report à nouveau ».

Article 28. ALLOCATION OF THE RESULT

Distributable earnings shall be determined in accordance with applicable law and regulations and in accordance with these articles of association.

After approval of the annual accounts and determination of the existence of distributable earnings, the shareholders shall determine the portion of such earnings to be paid to them as dividends.

If appropriate, the shareholders shall allocate the non- distributable earnings for the year, in proportions they determine, either to one or more general or special reserves, or the retained earnings.

Article 29.MISE EN PAIEMENT DES DIVIDENDES

Les dividendes sont mis en paiement par le Président, sur décision de la collectivité des associés, dans un délai maximum de neuf (9) mois, après la clôture de l'exercice. Ce délai peut être prorogé par décision judiciaire

Article 29. PAYMENT OF DIVIDENDS

Payment of dividends shall be made by the President, based on a shareholders’ decision, in a maximum of nine (9) months after the end of the fiscal year. Such period may be extended by a court decision.

La collectivité des associés, statuant sur les comptes annuels de l'exercice écoulé, a la faculté d'accorder à chaque associé, pour tout ou partie des dividendes mis en distribution, une option entre le paiement du dividende en numéraire et/ou en actions de la Société, dans les conditions qu’elle détermine.

The shareholders, ruling on the annual accounts of the past fiscal year, shall have the right to grant to each shareholder, for all or part of his/her/its dividends, an option between payment in cash and/or the Company’s shares, on terms and conditions they shall determine.

TITRE VII

DISSOLUTION - LIQUIDATION AMIABLE - CONTESTATIONS

TITRE VII

DISSOLUTION - VOLUNTARY LIQUIDATION - CHALLENGES

Article 30. DISSOLUTION - LIQUIDATION AMIABLE

La Société est dissoute à l'expiration du terme ou de l'objet social fixés par les présents statuts, sauf prorogation décidée par décision collective des associés.

La Société est en liquidation, dès l'instant de sa dissolution, pour quelque cause que ce soit, sauf en cas de fusion ou de scission ou de réunion de toutes les actions de la Société entre les mains d’un seul associé, personne morale.

La collectivité des associés peut prononcer la dissolution de la Société et règle, si besoin est dans sa décision, le mode de liquidation et nomme un ou plusieurs liquidateurs dont elle détermine les pouvoirs et, le cas échéant, la rémunération, et qui exercent leurs fonctions conformément à la législation en vigueur.

La dissolution met fin aux fonctions des dirigeants de la Société. Elle met également fin aux mandats des commissaires aux comptes, s’il en a été désigné, sauf décision contraire de la collectivité des associés.

La personnalité morale de la Société subsiste pour les besoins de sa liquidation jusqu'à la clôture de celle-ci. Toutefois, sa dénomination devra être suivie de la mention « société en liquidation » ainsi que du ou des noms des liquidateurs sur tous les actes et documents émanant de la Société et destinés aux tiers.

Article 30. DISSOLUTION - VOLUNTARY LIQUIDATION

The Company shall be dissolved at the expiration of the term or purpose set forth in these articles, unless an extension decided by the shareholders.

The Company shall be in liquidation, from the moment of its dissolution, regardless of the cause thereof, except in the case of merger, split-up, spin-off or amalgamation of all of the Company’s shares in the hands of a single person, legal entity.

The shareholders may decide to dissolve the Company and shall determine, in their resolution, if need be, the method of liquidation and shall appoint one or more liquidators, determine her/his/it/their powers and, if appropriate, compensation thereof. The liquidators shall perform their responsibilities in accordance with applicable law.

Dissolution will terminate the responsibilities of the officers of the Company. It shall also terminate the duties of the auditors, if any have been appointed, unless otherwise decided by the shareholders.

The Company’s legal personality shall continue for purposes of its liquidation until conclusion thereof. Its company name, however, shall be followed by the words “company in liquidation”, as well as the names of the liquidators, on any acts and documents issued by the Company and intended for third parties.

Le produit net de la liquidation, après remboursement aux associés du montant nominal et non amorti de leurs actions, est réparti entre les associés, en proportion de leur participation dans le capital social.

The net proceeds of the liquidation, after refunding to the shareholders of the amount and unamortized nominal amount of their shares shall be shared among the shareholders in proportion to their interests in the share capital.

Article 31. CONTESTATIONS

Toutes les contestations qui pourraient s'élever pendant la durée de la Société, en ce compris lors de sa liquidation, soit entre la Société et les associés ou le Président ou le directeur général, soit entre les associés eux-mêmes concernant les affaires sociales, l’interprétation ou l’exécution des présents statuts seront jugées conformément à la loi française et soumises à la juridiction des tribunaux compétents.

Article 31. CHALLENGES

All disputes which may arise during the term of the Company, including during its liquidation, either between the Company and the shareholders or the President or the general manager, or between the shareholders themselves concerning the Company's affairs, the interpretation or the execution of these articles of association, shall be judged in accordance with French law and submitted to the jurisdiction of the competent courts.

Arc AssetCo

Société par actions simplifiée au capital de 1.000 euros Siège social : 000, xxxxxx xx Xxxxxxx xx Xxxxxx, 00000 Xxxxxx

908 306 756 R.C.S. Boulogne-sur-Mer (ci-après la "Société")

PROCÈS-VERBAL DES DÉCISIONS DE L’ASSOCIE UNIQUE PRISES PAR ACTE SOUS SEING PRIVE EN DATE DU 22 FÉVRIER 2022

L’an deux mille vingt-deux, le 22 février,

La société Arc France, société par actions simplifiée au capital de 32.640.731 euros, dont le siège social est situé 000, xxxxxx xx Xxxxxxx xx Xxxxxx, 00000 Xxxxxx, immatriculée au Registre du Commerce et des Sociétés de Boulogne-sur-Mer sous le numéro 504 313 032 (l’ « Associé Unique ») a pris, par acte sous seing privé, à l’initiative du président de la Société (le « Président »), conformément aux stipulations des articles 20.1.2 et 23 des statuts de la Société, les décisions portant sur l'ordre du jour suivant :

1. Examen et approbation de l’émission de seize millions neuf cent soixante-quatre mille cinq cents (16.964.500) obligations simples, d’une valeur nominale de un euro (EUR 1) chacune, pour un prix de souscription total de seize millions neuf cent soixante-quatre mille cinq cents euros (EUR 16.964.500) (les « Obligations ») ;

2. Examen et approbation de la conclusion de la documentation à conclure notamment entre l’Associé Unique, la Société et Deva Capital Management Company S.L.U., une société de droit espagnol, dont le siège social est situé, Xxxxxxx xx Xxxxxxxxx, x/x, 00000 Xxxxxxxx xxx Xxxxx, Xxxxxx, Xxxxxxx et enregistrée au registre du commerce de Madrid sous le tome 38725, page 50, page M-688536 (« Deva Capital Management Company S.L.U.») agissant en tant que représentant de Deva Capital Investment Company S.L.U., dans le cadre d’une opération de sale and lease back ;

3. Examen et approbation d’une augmentation de capital en numéraire avec maintien du droit préférentiel de souscription de l’Associé Unique, d’un montant de six millions neuf cent trente-sept mille euros (EUR 6.937.000) par voie d’émission au pair de six millions neuf cent trente-sept mille (6.937.000) actions ordinaires nouvelles, d’une valeur nominale de un euro (EUR 1) chacune, émises pour un prix de souscription total de six millions neuf cent trente- sept mille euros (EUR 6.937.000) ;

4. Prise d’acte de la démission du Président et nomination d’un nouveau Président, sous condition suspensive du versement effectif du prix de souscription des Obligations à émettre par la Société ;

5. Refonte des statuts de la Société, sous condition suspensive du versement effectif du prix de souscription des Obligations à émettre par la Société ; et

6. Pouvoirs pour l’accomplissement des formalités.

Les documents suivants ont été mis à la disposition de l’Associé Unique :

(i) une copie de la lettre d’information du commissaire aux comptes de la Société ;

(ii) le rapport du Président ;

(iii) le rapport du commissaire à la vérification de l’actif et du passif conformément à l’article

L. 228-39 du Code de commerce ;

(iv) le protocole de conciliation conclu le 30 novembre 2021 entre, notamment, l’Associé Unique, l’Actionnaire, les Fonds Souverains et l’État (tels que ces termes y sont définis), homologué par le Tribunal de commerce de Lille Métropole le 12 janvier 2022 (le

« Protocole de Conciliation ») ;

(v) le projet de termes et conditions (Terms and conditions) des obligations simples à émettre par la Société figurant en Annexe 1 au présent procès-verbal (les « Termes et Conditions des Obligations ») ;

(vi) les justificatifs que le capital social de la Société a été intégralement libéré ;

(vii) le projet de contrat de souscription (Subscription agreement) des obligations simples devant être conclu entre la Société en tant qu'émetteur, et Deva Capital Investment Company S.L.U. en tant que souscripteur (le « Contrat de Souscription ») ;

(viii) le projet de contrat de fiducie-sûreté-gestion devant être conclu entre (i) l’Associé Unique, en qualité de constituant, (ii) Deva Capital Management Company S.L.U., en qualité de représentant de la masse, (iii) la masse des obligataires, en qualité de partie financière bénéficiaire, (iv) Equitis en qualité de fiduciaire (le « Fiduciaire »), (v) la Société et (vi) la société Chetwode SAS, société par actions simplifiée, dont le siège social est situé 00 xxx xxx xx Xxxxxx, 00000 Xxxxx, immatriculée au Registre du commerce et des sociétés de Paris sous le numéro 512 268 913 (« Chetwode ») en qualité de dirigeant (le « Contrat de Fiducie ») ;

(ix) le projet de contrat de gage (Equipment pledge agreement) avec dépossession portant sur des équipements, devant être conclu entre la Société, en qualité de constituant, Deva Capital Management Company S.L.U., en qualité de représentant de la masse, la masse des obligataires, en qualité de bénéficiaire et Arc France en qualité de tiers convenu (le

« Contrat de Gage ») ;

(x) le projet de contrat de cession de créances à titre de sûreté (Agreement for the assignment of receivables by way of security) portant sur les créances dues à la Société au titre du Contrat de Vente d’Equipement et du Contrat de Location (tels que ces termes sont définis ci-après), devant être conclu entre la Société, en qualité de cédant, Deva Capital Management Company S.L.U., en qualité de représentant de la masse, et la masse des obligataires, en qualité de bénéficiaire (le « Contrat de Cession de Créances A ») ;

(xi) le projet de contrat de cession de créances à titre de sûreté (Agreement for the assignment of receivables by way of security) portant sur les créances dues à la Société au titre du de la TVA afférentes aux équipements, devant être conclu entre la Société, en qualité de cédant, Deva Capital Management Company S.L.U., en qualité de représentant de la masse, et la masse des obligataires, en qualité de bénéficiaire (le « Contrat de Cession de Créances B », avec le Contrat de Cession de Créances A, les « Contrats de Cession de Créances ») ;

(xii) le projet de contrat de nantissement de compte bancaire (Bank account pledge agreement) devant être conclu entre la Société, en qualité de constituant, Deva Capital Management Company S.L.U., en qualité de représentant de la masse, et la masse des obligataires, en qualité de bénéficiaire (le « Contrat de Nantissement du Compte Bancaire ») ;

(xiii) le projet de lettre d’accès (Access letter) devant être signée par l’Associé Unique et la Société (la « Lettre d’Accès ») ;

(xiv) le projet de renonciation du bailleur (Landowner waiver) devant être signée par l’Associé Unique et la Société (la « Renonciation du Bailleur ») ;

(xv) le projet de contrat de vente d'équipement (Equipment sale agreement) devant être conclu entre l’Associé Unique, en tant que cédant, et la Société, en tant que cessionnaire (le « Contrat de Vente d'Equipement »);

(xvi) le projet des conditions générales du contrat de location et des conditions spécifiques du contrat de location (Lease agreement) devant être conclu entre la Société, en tant que bailleur, et l’Associé Unique, en tant que preneur, en ce compris la délégation d’assurances relatives à l’équipement qui y est stipulée (ensemble, le « Contrat de Location ») ;

(xvii) le projet de contrat de services de location (Lease service agreement) devant être conclu entre la Société et Chetwode, en qualité de prestataire de services (le « Contrat de Services de Location ») ;

(xviii) la lettre de démission du Président de la Société ;

(xix) le texte des décisions proposées ;

(xx) les statuts actuels de la Société ; et

(xxi) le projet de nouveaux statuts de la Société, qui figure en annexe des présentes.

Les Termes et Conditions des Obligations, le Contrat de Souscription, le Contrat de Fiducie, le Contrat de Gage, les Contrats de Cession de Créances, le Contrat de Nantissement du Compte Bancaire, la Lettre d’Accès et la Renonciation du Bailleur sont ci-après dénommés ensemble les

« Documents de Financement ». Le Contrat de Location, le Contrat de Vente d’Equipement et le Contrat de Services de Location sont ci-après dénommés ensemble les « Documents de l’Opération de Sale and Lease Back ».

Les termes commençant par une majuscule non définis dans le présent procès-verbal ont la signification qui leur est attribuée en anglais dans les Termes et Conditions des Obligations.

L’Associé Unique déclare que tous les documents et renseignements nécessaires à la prise de ses décisions lui ont été adressés ou tenus à sa disposition au siège social, conformément aux règles légales et statutaires applicables.

Le commissaire aux comptes de la Société, qui a été préalablement informé du projet de décisions ci-après, n’a pas formulé d’observations préalablement à la prise des décisions qui suivent.

L’Associé Unique a pris les décisions suivantes :

PREMIÈRE DÉCISION

Examen et approbation de l’émission de seize millions neuf cent soixante-quatre mille cinq cents (16.964.500) obligations simples, d’une valeur nominale de un euro (EUR 1) chacune, pour un prix de souscription total de seize millions neuf cent soixante-quatre mille cinq cents euros (EUR 16.964.500)

Conformément à l’article 6.2 c) du Protocole de Conciliation, il est prévu que la Société émette des obligations afin de financer l’acquisition des Equipements (Equipment) et de toute installation industrielle connexe dans le cadre de l’Emission Obligataire (Issuance).

Après avoir pris connaissance du Protocole de Conciliation, des Termes et Conditions des Obligations et du rapport du commissaire à la vérification de l’actif et du passif, après avoir constaté qu'il est dans l'intérêt social de la Société d’émettre des obligations et après avoir pris acte de la libération intégrale du capital social de la Société, l’Associé Unique, sous condition suspensive de l’adoption de la décision qui suit, décide l’émission par la Société d’Obligations, dont les principales caractéristiques et modalités en vertu des Termes et Conditions et du Protocole de Conciliation sont les suivantes :

• montant total mis à disposition au titre des Obligations : seize millions neuf cent soixante- quatre mille cinq cents euros (EUR 16.964.500) ;

• prix de souscription d’une Obligation : un euro (EUR 1) ;

• nombre total d’Obligations : seize millions neuf cent soixante-quatre mille cinq cents (16.964.500) ;

• valeur nominale de chaque Obligation : un euro (EUR 1) ;

• valeur nominale de la totalité des Obligations : seize millions neuf cent soixante-quatre mille cinq cents euros (EUR 16.964.500) ;

• date d’échéance des Obligations : 24 février 2027 ;

• intérêts des Obligations : 12 % l’an.

Les Obligations devront être intégralement souscrites lors de leur émission par versement en espèces de l’intégralité du prix de souscription sur le compte bancaire de la Société ouvert auprès de la BRED dont les références sont les suivantes : XX00 0000 0000 0000 0000 0000 000.

La période de souscription s’étendra du 22 février 2022 jusqu’au 9 mars 2022 et sera close par anticipation dès lors que toutes les Obligations auront été souscrites.

L’Associé Unique décide de donner tous pouvoirs au Président à l’effet de procéder à la réalisation matérielle de l’émission des Obligations et en particulier pour :

− recueillir les souscriptions aux Obligations et les versements y afférents sur le compte de la Société ;

− procéder à tout moment, à sa discrétion, à la clôture anticipée de la souscription dès lors que toutes les Obligations auront été souscrites ou, le cas échéant, proroger sa date ;

− procéder au retrait des fonds après la réalisation de l’émission des Obligations ; et

− accomplir, directement ou par mandataire, tous actes et formalités à l’effet de rendre définitive l’émission des Obligations.

Cette décision est adoptée par l’Associé Unique.

DEUXIÈME DÉCISION

Examen et approbation de la conclusion de la documentation à conclure notamment entre l’Associé Unique, la Société et Deva Capital Management Company S.L.U. agissant en tant que Représentant de la Masse dans le cadre de l’opération de sale and lease back envisagée

Conformément à l’article 6.2 c) du Protocole de Conciliation, il est notamment envisagé que l’Associé Unique (i) cède certains de ses équipements utilisés dans le cadre du processus de production du verre à la Société, qui relouera ces mêmes équipements à l’Associé Unique en retour, aux termes des Documents de l’Opération de Sale and Lease Back et (ii) place les actions de la Société en fiducie au profit de la masse des obligataires, représentée par le représentant de la masse Deva Capital Management Company S.L.U., aux termes des Documents de Financement.

Après avoir pris connaissance du Protocole de Conciliation et des projets des Documents de Financement et des Documents de l’Opération de Sale and Lease Back et après avoir constaté qu'il est dans l'intérêt social de la Société de conclure les Documents de Financement et les Documents de l’Opération de Sale and Lease Back, l'Associé Unique :

− approuve en toutes leurs stipulations les Documents de Financement et les Documents de l’Opération de Sale and Lease Back et les obligations qui en découlent pour la Société ;

− approuve la conclusion et la signature par la Société des Documents de Financement et des Documents de l’Opération de Sale and Lease Back et de tout document s'y rapportant ; et

− de manière générale, autorise le Président, avec faculté de subdélégation, à finaliser les Documents de Financement et les Documents de l’Opération de Sale and Lease Back, à mener toutes discussions et négociations, modifier, finaliser, signer et délivrer au nom et pour le compte de la Société les Documents de Financement et les Documents de l’Opération de Sale and Lease Back et signer tous documents y afférents, ainsi que faire le nécessaire pour permettre la signature et la mise en œuvre des Documents de Financement et des Documents de l’Opération de Sale and Lease Back.

Le Contrat de Location, le Contrat de Vente d’Equipements, le Contrat de Fiducie, la Lettre d’Accès, la Renonciation du Bailleur et le Contrat de Gage pouvant être considéré comme des conventions entrant dans le champ d'application des articles L 227-10 et suivants du Code de commerce relatifs aux conventions règlementées, la Société prendra les mesures nécessaires mentionnées à l’article L 227-10 du Code de commerce.

Cette décision est adoptée par l’Associé Unique.

TROISIÈME DÉCISION

Examen et approbation d’une augmentation de capital en numéraire avec maintien du droit préférentiel de souscription de l’Associé Unique, d’un montant de six millions neuf cent trente-sept mille euros (EUR 6.937.000) par voie d’émission au pair de six millions neuf cent trente-sept mille (6.937.000) actions ordinaires nouvelles, d’une valeur nominale de un euro (EUR 1) chacune, émises pour un prix de souscription total de six millions neuf cent trente- sept mille euros (EUR 6.937.000)

L’Associé Unique, après avoir pris connaissance du rapport du Président, et constatant que le capital social de la Société est entièrement libéré :

− décide d’augmenter le capital social de la Société en numéraire d’un montant de six millions neuf cent trente-sept mille euros (EUR 6.937.000) par voie d’émission au pair de six millions neuf cent trente-sept mille (6.937.000) actions ordinaires nouvelles, d’une valeur nominale de un euro (EUR 1) chacune, émises pour un prix de souscription total de six millions neuf cent trente-sept mille euros (EUR 6.937.000) (sans prime d’émission), à libérer intégralement lors de la souscription en numéraire, par voie de compensation avec des créances certaines, liquides et exigibles détenues envers la Société, afin de porter le capital social de la Société de mille euros (EUR 1.000) à six millions neuf cent trente-huit mille euros (EUR 6.938.000) (l’ « Augmentation de Capital ») ;

− décide que la souscription des actions ordinaires se fera avec maintien du droit préférentiel de souscription ;

− décide que les actions ordinaires ainsi émises pourront être libérées par compensation avec des créances certaines, liquides et exigibles sur la Société, à compter de la date des présentes et pendant une durée de quinze (15) jours calendaires. La période de souscription pourra être close par anticipation dès la souscription de l’intégralité des actions ordinaires ;

− prend acte que le Président établira un arrêté de compte conformément aux dispositions de l’article R. 225-134 du Code de commerce ;

− décide que les nouvelles actions ordinaires émises seront soumises à toutes les stipulations statutaires, seront assimilées aux actions ordinaires anciennes de même catégorie et jouiront des mêmes droits à compter de la date de réalisation de l’Augmentation de Capital ;

− déclare et reconnaît avoir été suffisamment informé des conditions et des modalités envisagées pour l’Augmentation de Capital objet de la présente décision et renonce

expressément au bénéfice des dispositions des articles L. 225-142 et R. 225-120 du Code de commerce ;

− délègue tous pouvoirs au Président, avec faculté de subdélégation, afin de réaliser l’Augmentation de Capital et notamment (i) recueillir les souscriptions, (ii) clore la période de souscription dès que toutes les actions ordinaires auront été souscrites, (iii) constater la réalisation de l’Augmentation de Capital, (iv) constater la modification corrélative des statuts de la Société et (v) généralement prendre toutes mesures utiles et remplir toutes formalités nécessaires pour parvenir à la réalisation définitive de l’Augmentation de Capital.

Cette décision est adoptée par l’Associé Unique.

QUATRIÈME DÉCISION

Prise d’acte de la démission du Président et nomination d’un nouveau Président, sous condition suspensive du versement effectif du prix de souscription des Obligations à émettre par la Société

L’Associé Unique prend acte de la démission de la société Arc France de ses fonctions de Président de la Société et lui donne quitus de sa gestion, cette démission étant sous condition suspensive du versement effectif du prix de souscription des Obligations à la Société.

L’Associé Unique, connaissance prise du rapport du Président, décide, sous condition suspensive du versement effectif du prix de souscription des Obligations à la Société, de nommer la société Chetwode, société par actions simplifiée au capital de 33.750 euros, dont le siège social est situé 00 xxx, xxx Xx Xxxxxx, 00000 Xxxxx, immatriculée au Registre du Commerce et des Sociétés de Paris sous le numéro 512 268 913, représentée par son président, M. Xxxx-Xxxxxxxx Xxxxxx (« Chetwode »), en qualité de Président de la Société pour une durée indéterminée.

Chetwode ne percevra aucune rémunération au titre de son mandat de Président.

La société Chetwode, représentée par X. Xxxx-Xxxxxxxx Xxxxxx, a fait savoir qu’elle acceptait les fonctions de Président de la Société et qu’elle n’était soumise à aucune interdiction ou incompatibilité pouvant en compromettre l’exercice.

Cette décision est adoptée par l’Associé Unique.

CINQUIEME DÉCISION

Refonte des statuts de la Société, sous condition suspensive du versement effectif du prix de souscription des Obligations à émettre par la Société

L’Associé Unique, connaissance prise du rapport du Président et du projet de statuts modifiés de la Société annexé aux présentes, décide, sous condition suspensive du versement effectif du prix de souscription des Obligations à la Société, d’adopter, article par article, puis dans leur ensemble, les nouveaux statuts de la Société conformes au projet annexé aux présentes décisions.

Cette décision est adoptée par l’Associé Unique.

XXXXXXX DÉCISION

Pouvoirs en vue de l’accomplissement des formalités

L’Associé Unique donne tous pouvoirs au porteur d’un original, d’une copie ou d’un extrait du présent procès-verbal pour effectuer tous dépôts, toutes formalités et toutes publications nécessaires.

Cette décision est adoptée par l’Associé Unique.

* *

*

Fait à Arques, le 22 février 2022

Annexe 1

Termes et Conditions des Obligations

10

ARC ASSETCO

000, XXXXXX XX XXXXXXX XX XXXXXX, 00000 XXXXXX

908 306 756 RCS BOULOGNE-SUR-MER

             _              _              _    

TERMS AND CONDITIONS

relating to the issue of assimilated bonds denominated

in euros (€) for a maximum principal amount of € 16,964,500 due 24 February 2027

             _              _              _     _

INDEX

Clause Page

SECTION 1 DEFINITIONS - INTERPRETATION 4

1. DEFINITIONS 4

SECTION 2 TERMS AND CONDITIONS 14

2. CHARACTERISTICS OF THE BONDS ISSUES 14

3. ISSUE DATE AND SUBSCRIPTION PRICE 14

4. COUPONS AND INTEREST 15

5. REDEMPTION 15

6. PAYMENTS 17

7. TAX Gross-up AND INDEMNITIES 18

8. VAT 22

9. FATCA information 23

10. FATCA Deduction 24

11. Increased Costs 24

12. REPRESENTATIONS AND WARRANTIES 26

13. UNDERTAKINGS 30

14. DEFAULT 34

15. BONDHOLDERS REPRESENTATION 39

16. General meetings and written consultations of the Bondholders 39

17. No recourse, limited RECOURSE AND non-petition 42

18. SEVERABILITY 43

19. ASSIGNMENT 43

20. XXXXXXX, REMEDIES CUMULATIVE 44

21. Amendments 44

22. NOTICES 44

23. Confidentiality 44

24. Data protection 46

25. No conflict of interest and anti-corruption clause 47

26. Prevention of money laundering 48

27. LANGUAGE 48

28. GOVERNING LAW AND JURISDICTION 48

SECTION 1 DEFINITIONS - INTERPRETATION

1. DEFINITIONS:

1.1 In the Terms and Conditions:

"Access Letter" means a letter of access pursuant to which the User, or any other owner of the Approved Location, provides the Issuer with access rights, substantially in the form of appendix 4 to the Lease Specific Terms.

"Affiliate" means, in relation to any person, a Subsidiary or a Holding Company of that person and any other Subsidiary of a Holding Company of that person or in relation to an investment fund, its manager or any other fund having the same manager or an Affiliate manager.

"Approved Location" means, as of the date of signature of the Lease Agreement, 000, xxxxxx xx Xxxxxxx xx Xxxxxx, 00000 Xxxxxx and its industrial zone (ZI du Hoquet), and such other location as is proposed by the User and approved by the Issuer in writing (in each case, such approval not to be unreasonably withheld).

"Arc France SAS" means ARC France, a société par actions simplifiée, incorporated under the laws of France, with registered office at 000, xxxxxx xx Xxxxxxx xx Xxxxxx, 00000 Xxxxxx, registered at the Trade and Companies Register of Boulogne-sur-Mer under number 504 313 032.

“Bank Account" means the bank account number XX00 0000 0000 0000 0000 0000 000 opened with BRED and held by the Issuer.

"Bank Account Pledge Agreement" means the bank account pledge agreement pursuant to which a pledge over the balance of the Bank Account (nantissement du solde du compte bancaire), pursuant to article 2355 et seq. of the French Code Civil, shall be granted by the Issuer on the Issue Date to the benefit of the Masse to guarantee the Issuer’s payment obligations under the Finance Documents.

"Bank Levy" means:

(a) the French taxe bancaire de risque systémique as set out in article 000 xxx XX of the French Tax Code and the French taxe pour le financement du fonds de soutien aux collectivités territoriales as set out in article 000 xxx XX xxx of the French tax code;

(b) any Tax of a substantially similar nature which is imposed in any other jurisdiction by reference to the assets or liabilities of a financial institution or other entity carrying out financial transactions and which has been officially announced or is in force at the Issue Date,

in each case, in the form existing at the Issue Date.

"Bonds" means the one hundred and sixteen million nine hundred and sixty-four thousand five hundred (16,964,500) bonds to be issued on the Issue Date by the Issuer in an aggregate

principal amount of EUR 16,964,500 pursuant to the Subscription Agreement and governed by the Terms and Conditions.

"Bondholder" means any holder of Bonds and, on the Issue Date, DEVA CAPITAL INVESTMENT COMPANY S.L.U., a private limited liability company incorporated under the laws of Spain, whose registered office is located at Xxxxxxx xx Xxxxxxxxx, x/x, 00000 Xxxxxxxx xxx Xxxxx, Xxxxxx, Xxxxx, with tax identification number B-88291331 and registered with the Commercial Registry of Madrid under sheet M- 687753, Tome 38680, page 12 represented by DEVA CAPITAL MANAGEMENT COMPANY S.L.U., a company incorporated under the laws of Spain, whose registered office is located at Xxxxxxx xx Xxxxxxxxx, x/x, 00000 Xxxxxxxx xxx Xxxxx, Xxxxxx, Xxxxx with tax identification number B-88291331 and registered with the Commercial Registry of Madrid under tome 38725, page 50, sheet M-688536, as management company.

"Bondholders’ Representative" has the meaning ascribed to it in Clause 15 (BONDHOLDERS REPRESENTATION).

"Business Day" means a day (other than a Saturday, a Sunday or a public holiday) on which banks are open for general business in Paris.

"Change of Control" means:

(a) the Shareholder ceases to own, directly or indirectly, at least 50,01 % of the shares or voting rights of the Issuer;

(b) the Guarantor ceases to own, directly or indirectly, at least 50,01 % of the shares or voting rights of the User; and

(c) Glass Holding and Private Theory II cease to own together, directly or indirectly, at least 50,01 % of the shares or voting rights of the Guarantor.

"Chetwode" means Chetwode, a société par actions simplifiée, with registered office at 00 xxx, xxx xx xx Xxxxxx, 00000 Xxxxx, registered at the Trade and Companies Register of Paris under number 512 268 913.

“Collective Decisions” shall have the meaning ascribed to it in Clause 15 (BONDHOLDERS REPRESENTATION).

“Conciliation Protocol” means the conciliation protocol entered into between the User and its existing and new creditors, confirmed and sealed (homologué) by the competent court in a final judgment in accordance with article L.611-8, II of the French Code de Commerce, on 12 January 2022, pursuant to which the new service (nouveau service, as defined therein) is granted New Money Privilege.

“Consultation End Period” has the meaning ascribed to it in Clause 16.2 (Written consultations of the Bondholders).

“Consultation Notice” has the meaning ascribed to it in Clause 16.2 (Written consultations of the Bondholders).

“Coupon” means the interest due under the Bonds and calculated on the basis of the Outstanding Principal of the Bonds for each Coupon Period.

“Coupon Payment Date” means the date of payment of each Coupon in accordance with Clause 4.2 (Coupon).

“Coupon Period” has the meaning ascribed to it in Clause 4.1 (Coupon Period).

"Coupon Rate" means twelve per cent (12%) of the Outstanding Principal the Bonds, per annum.

"Default" means an Event of Default or any event or circumstance provided for in Clause 14.1 (Events of Default) which, with the expiry of a grace period, the giving of notice, the satisfaction of any condition or combination of the foregoing would constitute an Event of Default provided that any such event which requires the satisfaction of a condition or the making of a determination as to materiality before it becomes an Event of Default shall not be a Default until that condition is satisfied or that determination is made.

"Delegation of Insurance Indemnities" means the délégation of the insurance indemnities pursuant to articles 1338 of the French Code Civil, as provided for in the Lease Agreement, and as accepted by the Insurance Company pursuant to the Insurance Adequacy Letter (as such terms are defined in the Lease Agreement).

"Early Redemption Fee" has the meaning ascribed to it in Clause 5.2 (Voluntary Early Redemption).

"Equipment" means, at any time, (i) the Original Equipment, (ii) the Replaced Equipment, and, where relevant (iii) New Equipment, as the same are defined in the Lease Agreement. The description of the Original Equipment is appended in Schedule 2 (Original Equipment).

"Equipment Item" means an individual item of Equipment.

"Equipment Pledge Agreement" means the pledge agreement to be entered into on the Issue Date, pursuant to which a pledge with dispossession over the equipment owned by the Issuer and leased to the User under the Lease Agreement (gage de biens meubles avec dépossession), pursuant to articles 2333 et seq. of the French Code Civil, shall be granted by the Issuer to the benefit of the Masse to guarantee the Issuer’s payment obligations under the Finance Documents, with the User as third party depositary.

"Equipment Sale Agreement" means the sale agreement to be entered into on the Issue Date between the User as seller and the Issuer as purchaser, pursuant to which the User sells the Equipment to the Issuer.

"Equitis" means Equitis Gestion, a société par actions simplifiée, incorporated under the laws of France, with registered office at 00, xxxxxx xx Xxxxxx 00000 Xxxxx, registered at the Trade and Companies Register of Paris under number 512 268 913.

"euro" or "€" means the single currency of the European Union.

"Event of Default" means an event specified as such in Clause 14 (Default). "FATCA" means:

(a) sections 1471 to 1474 of the Code or any associated regulations;

(b) any treaty, law or regulation of any other jurisdiction, or relating to an intergovernmental agreement between the US and any other jurisdiction, which (in either case) facilitates the implementation of any law or regulation referred to in paragraph (a) above; or

(c) any agreement pursuant to the implementation of any treaty, law or regulation referred to in paragraphs (a) or (b) above with the US Internal Revenue Service, the US government or any governmental or taxation authority in any other jurisdiction.

"FATCA Application Date" means:

(a) in relation to a "withholdable payment" described in section 1473(1)(A)(i) of the Code (which relates to payments of interest and certain other payments from sources within the US), 1 July 2014;

(b) in relation to a "withholdable payment" described in section 1473(1)(A)(ii) of the Code (which relates to "gross proceeds" from the disposition of property of a type that can produce interest from sources within the US), 1 January 2019; or

(c) in relation to a "passthru payment" described in section 1471(d)(7) of the Code not falling within paragraphs (a) or (b) above, 1 January 2019,

or, in each case, such other date from which such payment may become subject to a deduction or withholding required by FATCA as a result of any change in FATCA after the Issue Date.

"FATCA Deduction" means a deduction or withholding from a payment under a Finance Document required by FATCA.

"FATCA Exempt Party" means a party that is entitled to receive payments free from any FATCA Deduction.

"Fees" shall have the meaning ascribed to it in the Subscription Agreement.

"Fiducie Agreement" means the fiducie- sûreté-gestion over the shares of the Issuer to be entered into on the Issue Date, pursuant to articles 2011 et seq. and articles 2372-1 et seq. of the French Code Civil, granted by the Shareholder, as constituant, with Equitis acting as fiduciaire, to the benefit of the Masse as bénéficiaire to guarantee the Issuer’s payment obligations under the Finance Documents and to ensure the fiduciaire manages all shares issued by the Issuer until the release of the Finance Documents.

"Final Redemption Date" means 24 February 2027. "Finance Documents" means:

(a) the Subscription Agreement (including these Terms and Conditions);

(b) the Security Documents;

(c) the Lease Transaction Documents; and

(d) any document designated as such by the Bondholders’ Representative and the Issuer. "Financial Indebtedness" means any indebtedness for or in respect of:

(a) any money borrowed;

(b) any amount raised by acceptance under any acceptance credit facility or dematerialised equivalent;

(c) any amount raised pursuant to any note purchase facility or the issue of bonds, notes, debentures, loan stock or any similar instrument;

(d) the amount of any liability in respect of any lease or hire purchase contract which would, in accordance with applicable accounting principles, be treated as a finance or capital lease;

(e) receivables sold or discounted (other than any receivables to the extent they are sold on a non-recourse basis);

(f) any amount raised under any other transaction (including any forward sale or purchase agreement) having the commercial effect of a borrowing for more than 120 calendar days, as well as any payment obligation deferred for more than 120 calendar days resulting from a future financial instrument as defined in section L.211-1 III of the French Code Monétaire et Financier;

(g) any derivative transaction entered into in connection with protection against or benefit from fluctuation in any rate or price (and, when calculating the value of any derivative transaction, only the marked to market value shall be taken into account);

(h) any counter-indemnity obligation in respect of a guarantee, indemnity, bond, standby or documentary letter of credit or any other instrument issued by a bank or financial institution; and

(i) the amount of any liability in respect of any guarantee or indemnity for any of the items referred to in paragraphs (a) to (h) above.

"Financial Year" means the period commencing each year on 1st January and ending on the following 31st December.

"Finance Parties" means the Bondholder and the Bondholders’ Representative, each a "Finance Party".

"First Demand Guarantee" means the autonomous first demand guarantee pursuant to article 2321 et seq. of the French Code Civil, to be provided on the Issue Date by the Guarantor to the Masse for a total amount of twenty million three hundred and fifty-seven thousand and four hundred euros (20,357,400 EUR).

"GAAP" means generally accepted accounting principles in France or in any other jurisdiction in which a Finance Party is registered, including IFRS.

“Governmental Authority” means any government or sub-division of a government (at any level whatsoever), ministry, state department, judicial or administrative tribunal, central bank or any other entity having executive, legislative, judicial, tax, regulatory or administrative functions or powers or which belongs to any government.

"Guarantor" means Arc Holdings, a société par actions simplifiée, incorporated under the laws of France, with its registered office at 000 xxxxxx xx Xxxxxxx xx Xxxxxx, 00000 Xxxxxx, Xxxxxx registered at the Trade and Companies Register of Boulogne-sur-Mer under number 575 680 350.

“Group” means the Guarantor and its Subsidiaries.

"Holding Company" means a person of which another person is a Subsidiary.

"Intellectual Property" means:

(a) any patents, trademarks, service marks, designs, business names, copyrights, database rights, design rights, domain names, moral rights, inventions, confidential information, knowhow and other intellectual property rights and interests (which may now or in the future subsist), whether registered or unregistered; and

(b) the benefit of all applications and rights to use such assets of each member of the Group (which may now or in the future subsist).

"Intragroup Services Agreement" means the intragroup services agreement between the User and the Issuer, entered into on the Issue Date pursuant to which the User shall provide accounting, tax and legal services to the Issuer for a fee which shall not exceed five thousand euros (5,000 EUR) per Financial Year.

"Issue" means the issue of sixteen million nine hundred and sixty-four thousand and five hundred (16,964,500) Bonds governed by these Terms and Conditions and the Subscription Agreement.

"Issue Date" means 22 February 2022.

"Issuer" or "Company" means Arc AssetCo, a société par actions simplifiée incorporated under the laws of France, whose registered office is located at 000, xxxxxx xx Xxxxxxx xx Xxxxxx, 00000 Xxxxxx registered with the Registry of Commerce and Companies of Boulogne-sur-Mer under number 908 306 756.

"Landowner Waiver" means a waiver provided by the User as owner of the premises of the Approved Location pursuant to which the User agrees to allow the Issuer and any designated party access to the Equipment, remove the Equipment or maintain it in the Approved Location in case of termination of the Lease Agreement, and further disclaims all rights to treat the Equipment as a landowner’s fixture or similar, substantially in the form of appendix 5 to the Lease Specific Terms.

“Lease Agreement” means the Lease General Terms together with the corresponding Lease Specific Terms.

"Lease Early Termination Event" means a termination event under the Lease Agreement pursuant to article 17.1 of the Lease General Terms.

“Lease General Terms" means the general terms and conditions of the lease of the Equipment entered into between the Issuer, as lessor, and the User, as User, which shall be read in conjunction with the Lease Specific Terms.

“Lease Service Agreement” means any lease service agreement to be entered into by the Issuer to facilitate servicing of the Equipment and the Lease Agreement from time to time, including but not limited to the lease service agreement to be entered into with the Lease Servicer on the Issue Date.

“Lease Servicer” means Chetwode.

“Lease Specific Terms” means the specific terms and conditions of the lease of the Equipment entered into between the Issuer, as lessor, and the User, as User, which amend, complete, waive or derogate to the provisions of the Lease General Terms.

"Lease Transaction Documents" means the Lease Agreement, the Equipment Sale Agreement, the Landowner Waiver, the Access Letter, the Intragroup Services Agreement, the Insurance Adequacy Letters, the Insurance Confirmation Certificates (as such terms are defined in the Lease Agreement), the Lease Service Agreement, the Tax Consolidation Agreement, the Conciliation Protocol and any other document designated as such by the Issuer acting as lessor.

"Legal Reservations" means:

(a) the principle that equitable remedies may be granted or refused at the discretion of a court and the limitation of enforcement by laws relating to insolvency, reorganisation and other laws generally affecting the rights of creditors;

(b) the time barring of claims under applicable limitation laws, the possibility that an undertaking to assume liability for or indemnify a person against non-payment of any stamp duty may be void and defences of set-off or counterclaim;

(c) the principle that interest on interest or additional interest imposed pursuant to any relevant agreement may be held to be unenforceable on the grounds that it is a penalty and thus void; and

(d) the principle that a court may not give effect to an indemnity for legal costs incurred by an unsuccessful litigant.

"Majority Bondholders" means a Bondholder or Bondholders who hold in aggregate more than 662/3 per cent. of the Outstanding Principal of the Bonds (or, if the Outstanding Principal of the Bonds has been reduced to zero, aggregated more than 662/3 per cent. of the Outstanding Principal of the Bonds immediately prior to that reduction).

"Material Adverse Effect" means any effect, event or circumstance which has or could reasonably be expected to have a material adverse effect on:

(a) the assets, financial condition or business of the Issuer, the User, the Guarantor or any Security provider; or

(b) the ability of the Issuer, the User, the Guarantor or any Security provider to perform or comply with their obligations under the Finance Documents; or

(c) the normal course of use or operation of the Equipment taken as a whole.

"New Money Privilege" means the new money privilege in accordance with article L. 611-11 of the French Code de Commerce, in relation to Nouveau Service (as such terms is defined in the Conciliation Protocol) granted by the Issuer with respect to the conciliation procedure of the User.

"Non-Cooperative State" means a "non-cooperative state or territory" (Etat ou territoire non coopératif) as set out in the list referred to in article 238-0 A of the French tax code (Code Général des Impôts), as such list may be amended from time to time.

"Outstanding Principal" means, at any given time, the principal amount outstanding of the Bonds.

"Original Issuer Discount" shall have the meaning given to it in the Subscription Agreement.

"Payment Date" has the meaning ascribed to it in the Subscription Agreement. "Permitted Financial Indebtedness" means:

- any VAT related Financial Indebtedness,

- any Financial Indebtedness under the Finance Documents,

- any Financial Indebtedness under the Vendor Loan, and

- any Financial Indebtedness arising in respect of the fees related to the Issuer’s operating costs.

"Receivables Assignment Agreement" means the receivables assignment by way of security agreement entered into on the Issue Date, pursuant to which the Issuer shall assign to the Masse by way of security (cession de créances à titre de garantie) pursuant to articles 2373 et seq. of the French Code Civil, all receivables due to the Issuer under (i) the Lease Agreement,

(ii) the Equipment Sale Agreement and (iii) by the French tax authorities under the VAT claims, to guarantee the Issuer’s payment obligations under the Finance Documents.

"Redemption Date" has the meaning ascribed to it in Clause 5.1 (Normal Redemption).

"Register" has the meaning ascribed to it in Clause 2 (d).

"Sanctioned Jurisdiction" means at any time a country or territory which is the subject or target to any Sanctions.

"Sanctioned Person" means any person: (a) identified on a Sanctions-related list of designated persons, including the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the

U.S. Department of State and FinCen; the United Nations Security Council; the European Union or any of its member states; the United Kingdom, including Her Majesty’s Treasury; or any other relevant Governmental Authority with jurisdiction over any party hereto; (b) domiciled, organized or resident in, or any Governmental Authority of, any Sanctioned Jurisdiction; (c) owned or controlled by, or acting for or on behalf of, directly or indirectly, any person described in sections

(a) or (b) above.

"Sanctions" means economic or financial sanctions or trade embargoes imposed, administered or enforced at any time by: (a) the U.S. government, including the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State and FinCen; (b) the United Nations Security Council; (c) the European Union or any of its member states; (d) the United Kingdom, including Her Majesty’s Treasury; or (e) any other relevant Governmental Authority with jurisdiction over any Party hereto.

“Secured Property” means the property and assets secured or assigned or held in a fiducie- sûreté-gestion, pursuant to the Security Documents.

"Security" means a mortgage, charge, assignation, standard security, pledge, lien, security interest, fiducie, and transfer by way of security securing any obligation of any person or any other agreement or arrangement having a similar effect.

"Security Documents" means:

(a) the Fiducie Agreement;

(b) the Bank Account Pledge Agreement;

(c) the Receivables Assignment Agreement;

(d) the Delegation of Insurance Indemnities;

(e) the Equipment Pledge Agreement;

(f) the First Demand Guarantee.

"Shareholder" means the User, holding directly or indirectly 100% of the share capital and voting rights of the Issuer, subject to the provisions of the Fiducie Agreement.

"Share Capital Increase" means the share capital increase of the Issuer for an amount of six million nine hundred and thirty-seven thousand euros (6,937,000 EUR), by way of set-off against the receivables owed under the Vendor Loan by the Shareholder to the Issuer.

"Subscription Agreement" means the Subscription Agreement dated 22 February 2022, made between ARC ASSETCO as Issuer, DEVA CAPITAL INVESTMENT COMPANY S.L.U.,

represented by DEVA CAPITAL MANAGEMENT COMPANY S.L.U., as subscriber, and DEVA CAPITAL MANAGEMENT COMPANY S.L.U. as Bondholders’ representative, pursuant to which the subscriber has undertaken to subscribe to the Bonds.

"Subsidiary" means in relation to any company, another company controlled by it within the meaning of article L. 233-3 I and II of the French Code de Commerce.

"Tax" or "Taxes" means any tax, levy, impost, duty, governmental charges, payroll and social taxes or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same).

"Tax Consolidation Agreement" means the tax consolidation agreement entered into between the Issuer and the Guarantor on the Issue Date, effective as of 1 January 2022.

“Termination Value” means the termination value upon termination of the lease of the Equipment as provided for in the Lease Agreement.

"Terms and Conditions" means these terms and conditions of the Bonds.

“User” means Arc France SAS with which the Issuer, as lessor, will enter into the Lease Agreement.

"VAT" means any tax imposed in accordance with the council directive of 28 November 2006 on the common system of the value added tax (EC Directive 2006/112) or any other tax of a similar nature, whether imposed in a member state of the European Union or elsewhere, in substitution for or levied in addition to such tax.

"Vendor Loan" means the vendor loan made available by the Shareholder to the Issuer on the date hereof for the purpose of partially financing the Equipment purchase price under the Equipment Sale Agreement.

1.2 Interpretation:

In these Terms and Conditions, unless the contrary intention appears, a reference to:

(i) "amendment" includes any change, amendment, supplement, variation, novation, modification, replacement, re-enactment or restatement and amend, amending and amended shall be construed accordingly;

"assets" includes properties, business, undertakings, revenues and rights of every description present, future and contingent (including uncalled share capital) and every kind of interest in an asset;

"authorisation" includes an authorisation, consent, approval, resolution, licence, exemption, filing, registration and notarisation;

"consent" includes an authorisation, approval, exemption, licence, order, permission or waiver;

"disposal" means a sale, transfer, grant, lease or other disposal, whether voluntary or involuntary, and dispose will be construed accordingly;

"filing" includes any filing, registration, recording, notarisation or notice; "gross negligence" means faute lourde;

"guarantee" includes any obligation (whatever called) of any person:

(A) to pay, purchase, provide funds (whether by the advance of money, the purchase of or subscription for shares or other investments, the purchase of assets or services, the making of payments under an agreement or otherwise) for the payment of, indemnify against the consequences of default in the payment of, or otherwise be responsible for, any indebtedness of any other person; or

(B) to be responsible for the performance of any obligations by or the solvency of any other person,

and "guaranteed" and "guarantor" shall be construed accordingly;

"including" means including without limitation and includes and included shall be construed accordingly;

"indebtedness" includes present and future, actual and contingent obligations (whether incurred as principal, guarantor or as surety) involving the payment or repayment of money;

“Masse” means a reference to the masse of Bondholders as represented by the Bondholders’ Representative;

"person" includes any person, individual, firm, company, corporation, partnership, limited liability company, government, state or agency of a state or any undertaking or other grouping (whether or not having separate legal personality) or any two or more of the foregoing;

"wilful misconduct" means dol; and

"winding-up" of any person includes its dissolution and/or termination and/or any equivalent or analogous proceedings under the law of any jurisdiction in which that person is incorporated, registered, established or carries on business or to which that person is subject.

(ii) a provision of a law is a reference to that provision as amended or re-enacted;

(iii) a Clause or a Schedule is, unless otherwise specified, a reference to a clause of or a schedule to these Terms and Conditions;

(iv) a time of day is a reference to Paris time;

(v) words importing the singular shall include the plural and vice versa.

SECTION 2 TERMS AND CONDITIONS

2. CHARACTERISTICS OF THE BONDS ISSUES

(a) Each Bond comprises a bond with a nominal value of one hundred thousand euros (100,000 EUR).

(b) The Issue will be made by private placement without "offre au public" as defined under articles L.411-1 and L.411-2 of the French Code Monétaire et Financier.

(c) The Bonds shall be in registered form (titres au nominatif).

(d) In accordance with articles L.211-3, L.211-4, R.211-1 to R.211-8 and R.213-16 of the Code Monétaire et Financier, each Bond shall be shown as an entry in an account opened in the name of the relevant Bondholder in a register held by the Issuer at its registered office (the “Register”). No title deed or other certificate shall be issued in respect of the Bonds.

(e) With respect to any issue of additional bonds otherwise than under the present Issue, the Issuer shall have the right (without the prior consent of the Bondholder) to assimilate such additional bonds to the Bonds, provided however that such bonds give the same rights as the Bonds and that the terms and conditions of such additional bonds expressly contemplate such assimilation. Any such additional issue will have the same rights as those of the Bondholder of the Bonds and, in accordance with the second alinéa of article L.228-46 of the French Code de commerce, any such issue will be assimilated to the present Issue. As a consequence, all Bondholders will form a single masse.

(f) The Issuer shall use all proceeds from the issuance of the Bonds to finance the acquisition of the Equipment that it will lease to the User pursuant to the Lease Agreement, and the VAT relating to the purchase price of the Equipment and to pay certain transaction expenses.

3. ISSUE DATE AND SUBSCRIPTION PRICE

(a) The Bonds will be issued and fully subscribed on the Issue Date provided that all documents of schedule 1 (Conditions Precedent) of the Subscription Agreement have been delivered in form and substance satisfactory to the Bondholders’ Representative.

(b) The individual subscription price in respect of each Bond shall be equal to its nominal value,

i.e. one hundred thousand euros (100,000 EUR).

(c) Payment of the Subscription Price in respect of the Bonds shall be made on the Payment Date through wire transfer to the Bank Account, as provided under the Subscription Agreement.

(d) The Security Documents shall create Security to the benefit of the Masse on the Issue Date, and each Bondholder will have the right, as from the Issue Date, upon request and without charge, to consult electronic copies of such Security Documents, all of which will be available for inspection by the relevant Bondholder, to be communicated by the Issuer by email. By acquiring and holding the Bonds, each Bondholder is deemed (i) to have knowledge of the provisions of the Security Documents, (ii) to authorize the Bondholders’ Representative to execute such Security Documents on behalf of the Masse and (iii) with respect to the Fiducie Agreement, to authorize the fiduciaire under the Fiducie Agreement to act in the name of and on behalf of the Masse, where applicable under the Fiducie Agreement.

4. COUPONS AND INTEREST

4.1 Coupon Period

The first Coupon Period shall start on the Payment Date (included) and end on 4 March 2022 (included).

Each following Coupon Period shall begin on the last day of the preceding Coupon Period and shall have a duration of one (1) month.

The last Coupon Period shall end on the Final Redemption Date.

4.2 Coupon

The Bonds shall bear interest at the annual rate equal to the Coupon Rate payable for each Coupon Period. The Coupons shall be payable monthly, on the last day of each Coupon Period.

In case of early prepayment, accrued Coupons shall be paid concomitantly with the prepayment of the Bonds, and the Early Redemption Fee (if any). Accordingly, any prepaid amount shall include accrued Coupons due by the Issuer with respect to the prepaid Bonds.

4.3 Default interest

(a) If the Issuer fails to pay any amount payable by it under these Terms and Conditions on its due date (including any amount payable under this Clause 4.3), it shall forthwith on demand by the Bondholders’ Representative from time to time pay interest on the overdue amount from the due date up to the date of actual payment, as well after as before judgment, at a rate determined by the Bondholders’ Representative to be the aggregate of:

(i) the Coupon applicable to the overdue amount; and

(ii) three per cent (3 %) per annum.

(b) Default interest shall accrue automatically as of right and without need of notification (mise en demeure) to the Issuer and is in addition, and without prejudice, to the other rights of the Bondholders. Neither a demand by the Bondholders’ Representative under paragraph (a) above nor the payment by the Issuer of default interest shall constitute the grant of an extension or a grace period of the due date for the overdue amount or any waiver of the Bondholders' rights under the Finance Documents in relation to such overdue amount.

5. REDEMPTION

5.1 Normal Redemption

Subject to Clauses 5.2 (Voluntary Early Redemption) to 5.4 (Miscellaneous provisions) and

14.1 (Events of Default) hereunder, the redemption of the Bonds will be made for a total amount equal to their nominal amount increased by the accrued and unpaid Coupons and as the case may be any accrued default interest and the Early Redemption Fee (if any), and will be paid in accordance with Schedule 1 (Redemption Schedule) (each normal redemption date, together with any voluntary early redemption date, being a "Redemption Date").

5.2 Voluntary Early Redemption

(a) At the request of the User, and subject to the provisions of the Terms and Conditions, upon giving at least five (5) Business Days prior written notice to the Bondholders’ Representative specifying the amount to be redeemed, the Issuer may redeem the Bonds in whole.

(b) Subject to paragraph (d) below, upon a voluntary early redemption, the Issuer shall pay an early redemption fee (the "Early Redemption Fee") on the relevant redemption date in an amount equal to, in case of an early redemption falling between the Issue Date and the second anniversary date of the Issue Date (excluded), the Coupons accrued since the last Coupon Payment Date on the amount of the Bonds to be redeemed plus the Coupons which would otherwise have accrued from such redemption date to the second anniversary date of the Issue Date on the amount of the Bonds to be redeemed, should such early redemption not have occurred, plus two percent (2%) of the amount of the Bonds to be redeemed by the Issuer.

(c) Notwithstanding the terms of paragraphs (b) and (c) above, no Early Redemption Fee shall be due if such early redemption is solely financed by the Issuer by the cashflow generated by the Group’s business activity and commercial transactions.

The Early Redemption Fee will be payable by the Issuer on the date on which the Bonds will be early redeemed.

5.3 Mandatory Early Redemption

(a) If a Change of Control occurs, subject to the provisions of the Fiducie Agreement, the Issuer shall promptly notify the Bondholders’ Representative upon becoming aware of such event or its future occurrence as the case may be, and the Issuer shall at the latest on the date of the occurrence of the Change of Control, repay the entire Outstanding Principal of the Bonds together with accrued Coupons, and all other amounts accrued under these Terms and Conditions, including but not limited to enforcement costs and the Early Redemption Fee.

(b) If, in any applicable jurisdiction, it becomes unlawful for any Bondholder to perform any of its obligations as contemplated by the Subscription Agreement or to fund or maintain its holding or participation in the Bonds or it becomes unlawful for any Affiliate of a Bondholder for that Bondholder to do so, that Bondholder shall promptly notify the Bondholders’ Representative upon becoming aware of that event and the Issuer shall within five (5) Business Days following the receipt of a notice to that effect from the Bondholders’ Representative, redeem all outstanding amounts made available by the relevant Bondholder, due under the Bonds, together with accrued Coupons, and all other amounts accrued under these Terms and Conditions, provided however that the provisions of Clause 19 (ASSIGNMENT) remain applicable at any time.

(c) If part or all of the Equipment is subject to damage or loss, and to the extent that no Potential Termination Event or Termination Event (as such terms are defined in the Lease Agreement) has occurred, and where possible repair cannot be carried out within a reasonable timeframe and for a reasonable amount for such type of Equipment, as confirmed by the Lease Servicer, the proceeds pursuant to any insurance payment relating to such destroyed Equipment received by the Issuer and not otherwise applied pursuant to the terms of the Lease Agreement shall be applied in mandatory early redemption of the Bonds on the following Redemption Date, and the relevant part of the Outstanding Principal of the Bonds in relation to the destroyed Equipment, together with accrued Coupons relating thereto and all other accrued amounts under these Terms and Conditions relating thereto, including but not limited to enforcement costs and the Early Redemption Fee, shall become due and payable.

(d) If the Issuer receives payment of any amounts under the Lease Agreement other than rent instalments or insurance payments as described herein, on any grounds whatsoever, the proceeds shall be used for a partial or full mandatory early repayment of the Bonds on the following Redemption Date, together with accrued Coupons, and all other amounts accrued under these Terms and Conditions, including but not limited to enforcement costs.

(e) The Issuer shall redeem the Bonds in an amount equal to three million nine hundred and sixty- four thousand five hundred euros (3,964,500 EUR) at the earliest of (i) the date falling five (5) Business Days following the receipt of the reimbursement by the French tax authorities of the VAT paid by the Issuer to the Shareholder in respect of the purchase price of the Equipment under the Equipment Sale Agreement and (ii) the date falling six (6) months from the Issue Date.

(f) The Issuer shall notify the Lease Servicer at least (i) five (5) calendar days prior to an early redemption pursuant to paragraph (e) above and (ii) twenty (20) calendar days prior to a Redemption Date upon which any other mandatory early repayment shall occur. The Lease Servicer shall then, if applicable, provide the Issuer and the Bondholders’ Representative with an updated Redemption Schedule until the Final Redemption Date taking into account such early redemption.

5.4 Miscellaneous provisions

(a) Any notice of redemption made pursuant to Clause 5.3 (Mandatory Early Redemption) shall be irrevocable and, unless a contrary indication appears in these Terms and Conditions, shall specify the date or dates upon which the relevant redemption is to be made and the amount of that redemption.

(b) Any notice of voluntary redemption may be conditional and revocable provided that the Issuer shall be liable for any Early Redemption Fee if the relevant redemption is not made.

(c) In case of partial redemption of the Bonds, the nominal value of the Bonds shall be decreased consequently.

(d) No redemption of a Bond may be made except in accordance with the Terms and Conditions.

6. PAYMENTS

6.1 Funds

On each Redemption Date, the entire amount of the Coupons, the Early Redemption Fee (as the case may be), and/or (as the case may be) principal due in respect of the Bonds shall be paid in freely transferable funds for same day value in euros by the Issuer to the Bondholder, by way of wire transfer on same day value to the Bondholder's bank account.

6.2 Set-off and counterclaim

All payments made by the Issuer under the Finance Documents must be paid in full without set-off or counterclaim.

6.3 Currency

(a) Coupons and the Early Redemption Fee accrued under these Terms and Conditions shall be payable in Euro.

(b) The principal of each Bond shall be redeemed in Euro.

(c) Amounts payable in respect of costs, expenses, Taxes and the like are payable in the currency in which they are incurred.

(d) Any other amount payable under these Terms and Conditions is, except as otherwise provided in these Terms and Conditions, payable in Euro.

6.4 Non-Business Days

(a) If a payment under these Terms and Conditions is due on a day which is not a Business Day, the due date for that payment shall instead be the next Business Day or, in the case of a payment due on the Final Redemption Date where the Final Redemption Date is not a Business Day, the previous Business Day.

(b) During any extension of the due date for payment of any principal under these Terms and Conditions pursuant to paragraph (a) above, Coupons payable on the principal at the rate payable on the original due date.

6.5 Fees and costs

(a) The Issuer shall pay the Fees to the co-arrangers, and the Original Issuer Discount shall be due to the Bondholder on the Payment Date.

(b) In the event that, following a modification required by any legislative or regulatory authority, it becomes necessary to proceed with new formalities for the publication or performance of the Lease Agreement or necessary for the validity or the performance of any rights in Security, the Issuer shall bear all costs related to carrying out these formalities.

(c) The Issuer shall promptly indemnify the Bondholders’ Representative for any duly documented legal costs, court costs, fees and other expenses which the Bondholders’ Representative may need to incur as a result of (a) any amendment of any Finance Document made compulsory by any legislative, regulatory or judicial authority and any related costs or expenses incurred in responding to, evaluating, negotiating or complying with that amendment, or any amendment otherwise requested by the Issuer and agreed by the Bondholders’ Representative, which will be charged with an amendment fee payable to the Lessor of 1000 (one thousand) euros in addition to any other costs, expenses, and fees set out henceforth or

(b) the failure by the Issuer to perform its duties as arising from the Finance Documents, or (c) any enforcement costs pursuant to an Event of Default or any increased or unwinding costs. With respect to item 6.5(c)(a), the costs, fees and expenses shall be reasonable and duly documented.

7. TAX GROSS-UP AND INDEMNITIES

7.1 Definitions

In these Terms and Conditions:

"Protected Party" means a Finance Party which is or will be subject to any liability or required to make any payment for or on account of Tax in relation to a sum received or receivable (or any sum deemed for the purposes of Tax to be received or receivable) under a Finance Document.

"Qualifying Bondholder" means a Bondholder which is beneficially entitled to interest payable to that Bondholder in respect of the Bonds under a Finance Document and:

(a) which fulfils the conditions imposed by French law in order for a payment of interest not to be subject to (or as the case may be, exempted from) any Tax Deduction; or

(b) is a Treaty Bondholder.

"Tax Credit" means a credit against, relief or remission for, or repayment of, any Tax.

"Tax Deduction" means a deduction or withholding for or on account of Tax from a payment under a Finance Document, other than a FATCA Deduction.

"Tax Payment" means either the increase in a payment made by the Issuer to a Finance Party under Condition 7.2 (Tax gross-up) or a payment under Condition 7.3 (Tax indemnity).

"Treaty Bondholder" means a Bondholder which:

(a) is treated as a resident of a Treaty State for the purposes of the Treaty;

(b) does not carry on a business in France through a permanent establishment with which that Bondholder's holding of the Bonds is effectively connected; and

(c) fulfils any other conditions which must be fulfilled under the Treaty in order to obtain full exemption from Tax imposed on interest payments by France, subject to the completion of any necessary procedural formalities.

"Treaty State" means a jurisdiction having a double taxation agreement (a "Treaty") with France which makes provision for full exemption from tax imposed by France on interest payments.

Unless a contrary indication appears, in this Clause 7 a reference to "determines" or "determined" means a determination made in the absolute discretion of the person making the determination.

7.2 Tax gross-up

(a) The Issuer shall make all payments to be made by it without any Tax Deduction, unless a Tax Deduction is required by law.

(b) The Issuer shall promptly upon becoming aware that it must make a Tax Deduction (or that there is any change in the rate or the basis of a Tax Deduction) notify the Bondholders’ Representative accordingly. Similarly, a Bondholder shall notify the Bondholders’ Representative on becoming so aware in respect of a payment payable to that Bondholder. If the Bondholders’ Representative receives such notification from a Bondholder it shall notify the Issuer.

(c) If a Tax Deduction is required by law to be made by the Issuer, the amount of the payment due from the Issuer shall be increased to an amount which (after making any Tax Deduction) leaves an amount equal to the payment which would have been due if no Tax Deduction had been required.

(d) A payment shall not be increased under paragraph (c) above by reason of a Tax Deduction on account of Tax imposed by France, if on the date on which the payment falls due:

(i) the payment could have been made to the relevant Bondholder without a Tax Deduction if the Bondholder had been a Qualifying Bondholder, but on that date that Bondholder is not or has ceased to be a Qualifying Bondholder other than as a result of any change after the date it became a Bondholder under these Terms and Conditions in (or in the interpretation, administration, or application of) any law or Treaty or any published practice or published concession of any relevant taxing authority; or

(ii) the relevant Bondholder is a Treaty Bondholder and the Issuer making the payment is able to demonstrate that the payment could have been made to the Bondholder without the Tax Deduction had that Bondholder complied with its obligations under paragraph (g) below;

(iii) notwithstanding paragraph (i) above, the Tax Deduction is imposed on a payment made to a Bondholder solely because this payment is made to an account opened in the name of or for the benefit of that Bondholder in a financial institution situated in a Non-Cooperative State; or

(iv) the payment or a portion of the payment is requalified as a deemed distribution as a result of its non-tax deductibility under article 39, 1, 3° or article 212 of the French Tax code (Code Général des Impôts) and thus subject to a withholding tax on dividends.

(e) If the Issuer is required to make a Tax Deduction, the Issuer shall make that Tax Deduction and any payment required in connection with that Tax Deduction within the time allowed and in the minimum amount required by law.

(f) Within thirty (30) days of making either a Tax Deduction or any payment required in connection with that Tax Deduction, the Issuer making that Tax Deduction shall deliver to the Bondholders’ Representative for the Finance Party entitled to the payment evidence reasonably satisfactory to that Finance Party that the Tax Deduction has been made or (as applicable) any appropriate payment paid to the relevant taxing authority.

(g) A Treaty Bondholder and the Issuer shall co-operate in completing any procedural formalities necessary for the Issuer to obtain authorisation to make that payment (i) without a Tax Deduction or (ii) with a reduced rate of Tax Deduction.

7.3 Tax indemnity

(a) The Issuer shall (within three (3) Business Days of demand by the Bondholders’ Representative) pay to a Protected Party an amount equal to the loss, liability or cost which that Protected Party determines will be or has been (directly or indirectly) suffered for or on account of Tax by that Protected Party in respect of a Finance Document.

(b) Paragraph (a) above shall not apply:

(i) with respect to any Tax assessed on a Finance Party:

(ii) under the law of the jurisdiction in which that Finance Party is incorporated or, if different, the jurisdiction (or jurisdictions) in which that Finance Party is treated as resident for tax purposes; or

(iii) under the law of the jurisdiction in which that Finance Party's registered office is located in respect of amounts received or receivable in that jurisdiction,

(iv) if that Tax is imposed on or calculated by reference to the net income received or receivable (but not any sum deemed to be received or receivable) by that Finance Party; or

(v) to the extent a loss, liability or cost:

(vi) is compensated for by an increased payment under Clause 7.2 (Tax gross-up); or

(vii) would have been compensated for by an increased payment under Clause 7.2 (Tax gross-up) but was not so compensated solely because one of the exclusions in paragraph (d) of Clause 7.2 (Tax gross-up) applied;

(viii) relates to a FATCA Deduction required to be made by a party; or

(ix) is attributable to any Bank Levy.

(c) A Protected Party making, or intending to make a claim under paragraph (a) above shall promptly notify the Bondholders’ Representative of the event which will give, or has given, rise to the claim, following which the Bondholders’ Representative shall notify the Issuer.

(d) A Protected Party shall, on receiving a payment from the Issuer under this Clause 7.3, notify the Bondholders’ Representative.

7.4 Tax Credit

If the Issuer makes a Tax Payment and the relevant Finance Party determines that:

(a) a Tax Credit is attributable to an increased payment of which that Tax Payment forms part, to that Tax Payment or to a Tax Deduction in consequence of which that Tax Payment was required; and

(b) that Finance Party has obtained and utilised that Tax Credit,

the Finance Party shall pay an amount to the Issuer which that Finance Party determines will leave it (after that payment) in the same after-Tax position as it would have been in had the Tax Payment not been required to be made by the Issuer.

7.5 Bondholder status confirmation

(a) Each Bondholder that becomes a Bondholder after the Issue Date shall indicate, in the documentation which it executes on becoming a Bondholder, and for the benefit of the Bondholders’ Representative and without liability to the Issuer, which of the following categories it falls in:

(i) not a Qualifying Bondholder;

(ii) a Qualifying Bondholder (other than a Treaty Bondholder); or

(iii) a Treaty Bondholder.

If such a Bondholder fails to indicate its status in accordance with this Clause 7.5 then that Bondholder shall be treated for the purposes of these Terms and Conditions

(including by the Issuer) as if it is not a Qualifying Bondholder until such time as it notifies the Bondholders’ Representative which category applies (and the Bondholders’ Representative, upon receipt of such notification, shall inform the Issuer). For the avoidance of doubt, the documentation which a Bondholder executes on becoming a Bondholder shall not be invalidated by any failure of a Bondholder to comply with this Clause 7.5.

(b) Such a Bondholder shall also specify, in the documentation which it executes on becoming a Bondholder, whether it is incorporated or acting through a registered office situated in a Non-Cooperative State. For the avoidance of doubt, the documentation which a Bondholder executes on becoming a Bondholder shall not be invalidated by any failure of a Bondholder to comply with this paragraph (b).

7.6 Stamp taxes

The Issuer shall pay and, within three (3) Business Days of demand, indemnify each Finance Party against any cost, loss or liability that Finance Party incurs in relation to all stamp duty, registration and other similar Taxes payable on or in respect of any Finance Document.

8. VAT

(a) All amounts expressed to be payable under a Finance Document by any party to the Subscription Agreement to a Finance Party which (in whole or in part) constitute the consideration for any supply for VAT purposes are deemed to be exclusive of any VAT which is chargeable on that supply, and accordingly, subject to paragraph (b) below, if VAT is or becomes chargeable on any supply made by any Finance Party to any party under a Finance Document and such Finance Party is required to account to the relevant tax authority for the VAT, that party must pay to such Finance Party (in addition to and at the same time as paying any other consideration for such supply) an amount equal to the amount of the VAT (and such Finance Party must promptly provide an appropriate VAT invoice to that party).

(b) If VAT is or becomes chargeable on any supply made by any Finance Party (the "Supplier") to any other Finance Party (the "Recipient") under a Finance Document, and any party other than the Recipient (the "Relevant Party") is required by the terms of any Finance Document to pay an amount equal to the consideration for that supply to the Supplier (rather than being required to reimburse or indemnify the Recipient in respect of that consideration):

(c) (where the Supplier is the person required to account to the relevant tax authority for the VAT) the Relevant Party must also pay to the Supplier (at the same time as paying that amount) an additional amount equal to the amount of the VAT. The Recipient must (where this paragraph (c) applies) promptly pay to the Relevant Party an amount equal to any credit or repayment the Recipient receives from the relevant tax authority which the Recipient reasonably determines relates to the VAT chargeable on that supply; and

(d) (where the Recipient is the person required to account to the relevant tax authority for the VAT) the Relevant Party must promptly, following demand from the Recipient, pay to the Recipient an amount equal to the VAT chargeable on that supply but only to the extent that the Recipient reasonably determines that it is not entitled to credit or repayment from the relevant tax authority in respect of that VAT.

(e) Where a Finance Document requires any party to reimburse or indemnify a Finance Party for any cost or expense, that party shall reimburse or indemnify (as the case may be) such Finance Party for the full amount of such cost or expense, including such part thereof as represents VAT, save to the extent that such Finance Party reasonably determines that it is entitled to credit or repayment in respect of such VAT from the relevant tax authority.

(f) Any reference in this Clause 8 to any party shall, at any time when such party is treated as a member of a group for VAT purposes, include (where appropriate and unless the context otherwise requires) a reference to the person who is treated as making the supply or (as appropriate) receiving the supply under the grouping rules (as provided for in article 11 of the Council Directive 2006/112/EC (or as implemented by the relevant member state of the European Union) or any other similar provision in any jurisdiction which is not a member state of the European Union) so that a reference to a party shall be construed as a reference to that party or the relevant group or unity (or fiscal unity) of which that party is a member for VAT purposes at the relevant time or the relevant member (or head) of that group or unity (or fiscal unity) at the relevant time (as the case may be).

(g) In relation to any supply made by a Finance Party to any party under a Finance Document, if reasonably requested by such Finance Party, that party must promptly provide such Finance Party with details of that party's VAT registration and such other information as is reasonably requested in connection with such Finance Party's VAT reporting requirements in relation to such supply.

9. FATCA INFORMATION

(a) Subject to paragraph (c) below, each party shall, within ten (10) Business Days of a reasonable request by another party:

(i) confirm to that other party whether it is:

(ii) a FATCA Exempt Party; or

(iii) not a FATCA Exempt Party;

(iv) supply to that other party such forms, documentation and other information relating to its status under FATCA as that other party reasonably requests for the purposes of that other party's compliance with FATCA; and

(v) supply to that other party such forms, documentation and other information relating to its status as that other party reasonably requests for the purposes of that other party's compliance with any other law, regulation, or exchange of information regime.

(b) If a party confirms to another party pursuant to paragraph (a)(i) above that it is a FATCA Exempt Party and it subsequently becomes aware that it is not or has ceased to be a FATCA Exempt Party, that party shall notify that other party reasonably promptly.

(c) Paragraph (a) above shall not oblige any Finance Party to do anything, and paragraph (a)(v) above shall not oblige any other party to do anything, which would or might in its reasonable opinion constitute a breach of:

(d) any law or regulation;

(e) any fiduciary duty; or

(f) any duty of confidentiality.

(g) If a party fails to confirm whether or not it is a FATCA Exempt Party or to supply forms, documentation or other information requested in accordance with paragraph (a)(i) or (a)(iv) above (including, for the avoidance of doubt, where paragraph (c) above applies), then such party shall be treated for the purposes of the Finance Documents (and payments under them) as if it is not a FATCA Exempt Party until such time as the party in question provides the requested confirmation, forms, documentation or other information.

10. FATCA DEDUCTION

(a) Each party may make any FATCA Deduction it is required to make by FATCA, and any payment required in connection with that FATCA Deduction, and no party shall be required to increase any payment in respect of which it makes such a FATCA Deduction or otherwise compensate the recipient of the payment for that FATCA Deduction.

(b) Each party shall promptly, upon becoming aware that it must make a FATCA Deduction (or that there is any change in the rate or the basis of such FATCA Deduction), notify the party to whom it is making the payment and, in addition, shall notify the Issuer and the Bondholders’ Representative and the Bondholders’ Representative shall notify the other Finance Parties.

11. INCREASED COSTS

11.1 Increased costs

(a) In these Terms and Conditions:

"Basel III" means:

(i) the agreements on capital requirements, a leverage ratio and liquidity standards contained in "Basel III: A global regulatory framework for more resilient banks and banking systems", "Basel III: International framework for liquidity risk measurement, standards and monitoring" and "Guidance for national authorities operating the countercyclical capital buffer" published by the Basel Committee on Banking Supervision in December 2010, each as amended, supplemented or restated;

(ii) the rules for global systemically important banks contained in "Global systemically important banks: assessment methodology and the additional loss absorbency requirement – Rules text" published by the Basel Committee on Banking Supervision in November 2011, as amended, supplemented or restated; and

(iii) any further guidance or standards published by the Basel Committee on Banking Supervision relating to Basel III.

"CRD IV" means:

(i) Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June

2013 on prudential requirements for credit institutions and investment firms; and

(ii) Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms.

"Increased Costs" means:

(i) a reduction in the rate of return from the Bonds or on a Finance Party's (or its Affiliate's)

overall capital;

(ii) an additional or increased cost; or

(iii) a reduction of any amount due and payable under any Finance Document,

which is incurred or suffered by a Finance Party or any of its Affiliates to the extent that it is attributable to that Finance Party performing its obligations under any Finance Document.

(b) Subject to Condition 11.3 (Exceptions) the Issuer shall, within three (3) Business Days of a demand by the Bondholders’ Representative, pay for the account of a Finance Party the amount of any Increased Costs incurred by that Finance Party or any of its Affiliates as a result of (i) the introduction of or any change in (or in the interpretation, administration or application of) any law or regulation or (ii) compliance with any law or regulation made after the Issue Date or (iii) the implementation or application of or compliance with Basel III or CRD IV or any law or regulation that implements or applies Basel III or CRD IV.

11.2 Increased cost claims

(a) A Finance Party intending to make a claim pursuant to Condition 11.1 (Increased costs) shall notify the Bondholders’ Representative of the event giving rise to the claim, following which the Bondholders’ Representative shall promptly notify the Issuer.

(b) Each Finance Party shall, as soon as practicable after a demand by the Bondholders’ Representative, provide a certificate confirming the amount of its Increased Costs.

11.3 Exceptions

(a) Clause 11.1 (Increased costs) does not apply to the extent any Increased Cost is:

(i) attributable to a Tax Deduction required by law to be made by the Issuer;

(ii) attributable to a FATCA Deduction required to be made by a party;

(iii) compensated for by Clause 7.3 (Tax indemnity) (or would have been compensated for under Clause 7.3 (Tax indemnity) but was not so compensated solely because any of the exclusions in paragraph (b) of Clause 7.3 (Tax indemnity) applied);

(iv) attributable to the wilful breach by the relevant Finance Party or its Affiliates of any law

or regulation;

(v) attributable to any Bank Levy; or

(vi) attributable to the implementation or application of or compliance with the "International Convergence of Capital Measurement and Capital Standards, a Revised Framework" published by the Basel Committee on Banking Supervision in June 2004 in the form existing on the Issue Date (but excluding any amendment arising out of Basel III) ("Basel

II") or any other law or regulation which implements Basel II (whether such implementation, application or compliance is by a government, regulator, Bondholder or any of its Affiliates).

(b) In this Condition 11.3 reference to a "Tax Deduction" has the same meaning given to the term in Clause 7.1 (Definitions).

12. REPRESENTATIONS AND WARRANTIES

On the Issue Date, and on each Redemption Date and Coupon Payment Date, the Issuer makes the following representations and warranties only in respect of itself and hereby acknowledges that each of the Finance Parties has entered into the Finance Documents and has agreed to subscribe to the Bonds in full reliance on those representations and warranties:

12.1 Status

(a) It is a French société par actions simplifiée, duly incorporated and validly existing under the law of France.

(b) It has the power to own its assets, and in particular the Equipment, to which it has valid and good title.

12.2 Corporate power and capacity

(a) It has the power to enter into, deliver and perform its obligations under each of the Finance Documents to which it is a party and to issue the Bonds.

(b) The entry into and the performance of the Finance Documents to which it is a party are in compliance with its corporate object.

(c) Each Issue has been validly authorised by the Issuer by all necessary corporate actions.

12.3 Legal validity

(a) All obligations contained in the Finance Documents to which it is or will be a party constitute, or when executed in accordance with their terms will constitute legal, valid, binding and enforceable obligations, in accordance with their terms, subject to the Legal Reservations.

(b) Without limiting the generality of paragraph (a) above, each Security Document to which it is or will be a party creates the security interests which that Security Document purports to create and those security interests are valid and effective, subject to the Legal Reservations.

12.4 Non-conflict

The entry into and performance by it of the Finance Documents do not:

(a) contravene any existing applicable law, statute, rule or regulation or any judgment, decree or permit to which it is subject on the date hereof and on each Issue Date; or

(b) conflict with, or result in any breach of any of the terms of, or constitute a default under any agreement or other instrument to which it is a party; or

(c) contravene or conflict with any provision of its respective incorporation documents, statuts or by-laws.

12.5 Deduction of Tax

It is not required to make any Tax Deduction (as defined in Clause 7.1 (Definitions) from any payment it may make under any Finance Document to a Bondholder which is a Qualifying Bondholder (as defined in Clause 7.1 (Definitions).

12.6 No filing or stamp taxes

It is not necessary that the Finance Documents be filed, recorded or enrolled with any court or other authority in the relevant jurisdiction or that any stamp, registration, notarial or similar Taxes or fees be paid on or in relation to the Finance Documents or the transactions contemplated by the Finance Documents except any filing, recording or enrolling or any tax or fee payable in relation to any Security Document.

12.7 Tax liabilities

(a) The Issuer is not overdue in the filing of any Tax returns and the Issuer has duly and punctually paid and discharged, on their due date or within any applicable grace period, all Taxes imposed upon it or its assets other than those in respect of which a claim is being asserted which is permitted under paragraph (b) below.

(b) No claims are being or are reasonably likely to be asserted against the Issuer with respect to Taxes (except for Taxes disputed and/or for which adequate provision has been made in the financial statements of the Issuer for the Financial Year during which such claim is made).

12.8 No default

No Event of Default is continuing or would result from the execution or performance of any transaction contemplated by the Finance Documents.

12.9 Material Adverse Effect

No event or fact has occurred that constitutes a Material Adverse Effect.

12.10 Ranking

The Security has or will have the ranking in priority which it is expressed to have in the Security Documents and (unless expressly stated to the contrary therein), it is not subject to any prior ranking or (unless otherwise permitted under the Finance Documents) pari passu ranking Security. Its payment obligations under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law.

12.11 Shares - Legal and beneficial ownership

(a) On the Issue Date, the share capital of the Issuer is six million nine hundred and thirty-eight thousand euros (6,938,000 EUR), divided into six million nine hundred and thirty-eight thousand (6,938,000) ordinary shares of one euro (1 EUR) each.

(b) No Security exists over the shares of the Issuer or over any of the assets of the Issuer, and in particular the Equipment, other than those expressly permitted pursuant to the Security Documents.

12.12 Intellectual Property

The Issuer:

(a) is the sole legal and beneficial owner of or has licensed to it on normal commercial terms all the Intellectual Property which is material in the context of its business and which is required by it in order to carry on its business as it is being conducted;

(b) does not, in carrying on its businesses, infringe any Intellectual Property of any third party in any respect which has or is reasonably likely to have a Material Adverse Effect; and

(c) has taken all formal or procedural actions (including payment of fees), if any, required to maintain any material Intellectual Property owned by it.

12.13 No proceedings pending or threatened

No litigation, arbitration or administrative proceedings of or before any court, arbitral body or agency against the Issuer has or have been started or threatened, except for any litigation, arbitration or administrative proceedings for an amount less than five thousand euros (5,000 EUR), if the Issuer has contested in good faith such litigation, arbitration or administrative proceedings.

12.14 Insolvency

No insolvency or pre-insolvency (mandat ad-hoc, conciliation) proceedings have been instigated against the Issuer and, to the knowledge of the Issuer, no step or action has been taken in order to open insolvency proceedings against it.

12.15 Centre of main interests and establishments

For the purposes of Regulation (EU) 2015/848 of 20 May 2015 on insolvency proceedings (recast) (the "Regulation"), the Issuer’s centre of main interest (as that term is used in Article 3(1) of the Regulation) is France and it has no "establishment" (as that term is used in Article 2(10) of the Regulation) in any other jurisdiction.

12.16 No misleading information

(a) The factual information provided in writing to the Bondholders’ Representative and its advisers related to these Terms and Conditions are true and accurate in all material respects.

(b) All financial information (including financial projections, budget, etc.) provided in writing to the Bondholders’ Representative and its advisers related to these Terms and Conditions by the Issuer or any Affiliate of the Issuer have been prepared in good faith on the basis of recent historical information and on the basis of reasonable assumptions

(c) No information has been given or withheld that results in the factual information or the financial projections provided in writing to the Bondholders’ Representative and its advisers related to these Terms and Conditions by the Issuer or any Affiliate of the Issuer being untrue or misleading in any material respect.

12.17 Financial statements

The most recent financial statements of the Issuer delivered to the Bondholders’ Representative:

(a) have been prepared in accordance with GAAP consistently applied;

(b) have been audited; and

(c) fairly represent ("donnent une image fidèle et sincère") the financial condition of the Issuer as at the date to which they were drawn up, and there has been no change in the financial condition of the Issuer since the date of delivery to the Bondholders’ Representative of the most recent financial statements of the Issuer.

12.18 No Financial Indebtedness

The Issuer does not assume or incur any Financial Indebtedness except for the Permitted Financial Indebtedness.

12.19 Sanctions

None of the Issuer or any of its directors, officers or, to the Issuer’s best knowledge, employees:

(a) is a Sanctioned Person;

(b) has engaged in any dealings with, involving, or for the benefit of, any Sanctioned Person; or

(c) is in violation of Sanctions.

12.20 Lease Transaction Documents

(a) The Issuer and each other party to the Lease Transaction Documents comply with any provision of such Lease Transaction Documents and there is no provision of the Lease Transaction Documents which is invalid, illegal, ineffective, suspended or unenforceable for any reason whatsoever.

(b) There is no other agreement in connection with, or arrangements which amend, supplement or affect, any Lease Transaction Document, save as agreed with the prior written consent of the Bondholders’ Representative (on behalf of the Masse).

(c) There is no material dispute in connection with any Lease Transaction Document.

(d) The Issuer is not a party to any agreement other than the Finance Documents, the bank account agreement with respect to the Bank Account and the services agreement with its auditor.

12.21 Conciliation Protocol

(a) The Conciliation Protocol is duly executed and sealed (homologué) before the competent court in a final judgement.

(b) The Issuer and each other party to the Conciliation Protocol comply with any provision of the Conciliation Protocol and there is no provision of the Conciliation Protocol which is invalid, illegal, ineffective, suspended or unenforceable for any reason whatsoever.

12.22 Business activities

(a) Since the date of its incorporation, the Issuer has not traded or carried on any business other than the acquisition and leasing of the Equipment.

(b) The Issuer has no Subsidiary.

(c) The Issuer has no employee(s).

12.23 Tax Consolidation Group

The Issuer is in the Guarantor’s tax consolidation group in accordance with the terms of the Tax Consolidation Agreement and shall remain in the tax consolidation group of the Guarantor unless the Fiducie Agreement is enforced.

13. UNDERTAKINGS

13.1 Duration

The undertakings in this Clause 13 remain in force from the Issue Date in respect of the Issuer for so long as any amount is or may be outstanding under these Terms and Conditions.

13.2 Use of Proceeds

The Issuer shall use all proceeds from the issuance of the Bonds for the purpose specified in paragraph 2(f).

13.3 Business

The Issuer shall not engage in any business other than acquiring and leasing of the Equipment, issuing the Bonds and any transaction related to the foregoing. The Issuer shall not acquire any business, shares or securities of any company or acquire the whole or substantially the whole of the assets of any person.

13.4 Negative Pledge

(a) The Issuer shall not, create or permit to subsist any Security over any of its assets or its shares (other than Security pursuant to the Security Documents), or otherwise dispose of the Equipment or any other assets or shares (subject to the provisions of the Lease Agreement and the provisions of the Fiducie Agreement).

(b) The Issuer shall not enter into a single transaction or a series of transactions (whether related or not) and whether voluntary or involuntary to sell, lease, transfer or otherwise dispose of the Equipment until full repayment of any sums due under the Bonds together with accrued Coupons, and all other amounts accrued under these Terms and Conditions, including but not limited to enforcement costs and where applicable, an Early Redemption Fee, unless for the benefit of the Bondholders’ Representative, save as otherwise permitted under the Lease Agreement.

13.5 Financial Indebtedness

(a) Except as permitted under paragraph (b) below, the Issuer shall not incur or allow to remain outstanding any Financial Indebtedness.

(b) Paragraph (a) above does not apply to any Permitted Financial Indebtedness.

13.6 Restriction on payment of dividends and other payments

The Issuer shall not:

(i) declare, make or pay any dividend, charge, fee or other distribution (or interest on any unpaid dividend, charge, fee or other distribution) (whether in cash or in kind) on or in respect of its share capital (or any class of its share capital) or other equity interests to the Shareholder or the Shareholder’s Affiliates;

(ii) repay or distribute any dividend or share premium reserve to the Shareholder or the Shareholder’s Affiliates;

(iii) make any payments under or in respect of any equity documents to the Shareholder or the Shareholder’s Affiliates; or

(iv) redeem, repurchase, defease, retire or repay any of its share capital or other equity interests, or any loan to the Shareholder or any of the Shareholder’s Affiliates or resolve to do so.

13.7 Lease Transaction Documents

(a) The Issuer shall not terminate, amend in any manner or waive provisions of all or part of the Lease Transaction Documents.

(b) The Issuer shall:

(i) duly and punctually perform and comply with its obligations under the Lease Transaction

Documents;

(ii) take all steps necessary or desirable to protect, maintain, exercise and enforce all its rights with respect to the Lease Transaction Documents to procure the due performance by each other party to the Lease Transaction Documents of such party's respective obligations under each of the Lease Transaction Documents; and

(iii) promptly, comply with any notice from the Bondholders’ Representative directing the Issuer to exercise (or to refrain from exercising) any of its rights under the Lease Transaction Documents.

(c) The Issuer shall not enter into any agreement other than the Finance Documents and the documents referred to in Clause 12.20(d).

13.8 Conciliation Protocol

The Issuer shall duly and punctually perform and comply with its obligations under the Conciliation Protocol and take all steps necessary or desirable to protect, maintain, exercise and enforce all its rights with respect to the Conciliation Protocol.

13.9 Ranking

The Issuer shall ensure that its payment obligations under the Finance Documents at all times rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law.

13.10 Merger - Disposal of assets

The Issuer shall not, without the prior consent of the Bondholders’ Representative, enter into any amalgamation, demerger, merger, corporate reconstruction, consolidation or disposal of its assets.

13.11 Constitutional Documents

The Issuer shall not change, without the prior consent of the Bondholders’ Representative its corporate form and purpose and its corporate address, and shall not modify its constitutional documents (including its by-laws) or its corporate officer (président and, where applicable, directeur général), subject to the terms of the Fiducie Agreement.

13.12 Limitations on capital reductions

The Issuer shall not reduce its share capital and/or redeem its shares or proceed to any transaction that may have a similar effect without the Bondholders’ Representative’s prior written consent, save to the extent required by law.

13.13 Subsidiaries - Employees

The Issuer shall not incorporate a Subsidiary or engage any employees without the prior written consent of the Bondholders’ Representative.

13.14 Arm’s length basis

The Issuer shall not, without the prior written consent of the Bondholders’ Representative, enter into any transaction with any person or enter into or continue business relations with any and all of its Shareholders, employees and/or Affiliate(s), except on proper commercial terms negotiated at arm’s length.

13.15 Financial Year

The Issuer shall not change its Financial Year without the prior written consent of the Bondholders’ Representative.

13.16 Accounting and control systems

The Issuer shall maintain an accounting and control system, management information system and books of account and other records, which together adequately give a fair and true view of the financial condition of the Issuer and results of its operations in accordance with GAAP.

13.17 Auditors

The Issuer shall not change its auditors without obtaining prior approval of the Bondholders’ Representative of any replacement thereof, provided that no such approval shall be required in the event the auditors are chosen amongst the “Big Four” accounting firms, solely for pricing purposes. In such a case, the Issuer shall provide the Bondholders' Representative with the pricing of the existing auditor and the quote of the new auditor.

13.18 Equipment – insurance – maintenance

The Issuer shall ensure that (i) the Equipment is maintained in good working order and condition (ordinary wear and tear excepted) in accordance with the provisions of the Lease Agreement and (ii) all required insurance policies in respect of the Equipment are subscribed and maintained in accordance with the provisions of the Lease Agreement, adding the Issuer as additional insured.

13.19 Access to the Equipment

The Issuer undertakes to ensure that the User allows the Lease Servicer to access the Equipment by making an onsite visit twice a year to control the physical state of the Equipment as well as provide a new assessment of the value of the Equipment. The first such visit shall be six (6) months after the Issue Date. The date and time of such visits shall be agreed at last fifteen (15) calendar days in advance between the Lease Servicer and the User and shall take place during a Business Day or during business hours, except if a Default or an Event of Default occurs, where such provisions shall not apply.

13.20 VAT

The Issuer shall, as soon as reasonably possible starting from the Issue Date, apply for the reimbursement of the VAT related to the Equipment purchase price with the French tax authorities.

13.21 Cash management of the Issuer

(a) The Issuer shall maintain cash available in its Bank Account for an amount at least equal to the greater of (i) the last twelve (12) months operating costs and (ii) the next twelve (12) months projected operating costs, per year, to be re-constituted immediately in case of debit of any funds therefrom.

(b) Twenty (20) Business Days after the Issue Date, the Issuer undertakes to initiate the closing of the Bank Account and transfer the funds from its Bank Account into a bank account opened with Banco Santander (the “New Bank Account”). On such date, the Issuer undertakes to sign a bank account pledge agreement over the balance of the New Bank Account in the form of the Bank Account Pledge Agreement.

13.22 Sanctions

(a) The Issuer shall not liaise, contract, enter into arrangements or otherwise establish any form of relationships with any Sanctioned Person.

(b) The Issuer shall not directly or indirectly, use, lend, make payments of, contribute or otherwise make available, all or any part of the proceeds of the Bonds, or other transactions contemplated by these Terms and Conditions to fund any trade, business or other activities related to (i) any Sanctioned Person or Sanctioned Jurisdiction; or (ii) any activity that could reasonably be expected to result in the Issuer or any Finance Party being in breach of any Sanctions or becoming a Sanctioned Person, nor permit or authorize any other person to do so.

(c) The Issuer shall not directly or indirectly fund all or part of any repayment or prepayment of the Bonds or discharge any obligation due or owing to any Finance Party under the Finance Documents from proceeds derived from or otherwise directly or indirectly sourced from (i) any Sanctioned Person or Sanctioned Jurisdiction; (ii) any sanctioned or sanctionable activity or whose source is subject to Sanctions; or (iii) any action or status which is prohibited by, or would cause any Finance Party or member of its group to be in breach of, any Sanctions.

13.23 Taxation

The Issuer shall pay and discharge all Taxes imposed upon it or its assets within the time period allowed without incurring penalties and/or interest unless and only to the extent that:

(a) such payment is being contested in good faith; and

(b) adequate reserves are being maintained for those Taxes and the costs required to contest them which have been disclosed in its latest financial statements delivered to the Bondholders’ Representative under Clause 13.25 (Information Undertakings).

13.24 Share Capital Increase

The Issuer undertakes to proceed with the Share Capital Increase on the Issue Date.

13.25 Information Undertakings

The Issuer undertakes to provide the Bondholders’ Representative the following financial information:

(a) annual audited financial statements of the Issuer within one hundred and fifty (150) calendar days from the end of each financial year;

(b) annual AML/CFT compliance certificate (adequacy of policies, procedures and controls) for the Issuer;

(c) the occurrence of any litigation, arbitration or administrative proceedings in respect of the Issuer;

(d) subject to applicable law, the commencement of any payment difficulties, conciliation insolvency or pre-insolvency proceedings for the Issuer, with at least, in respect of proceedings initiated by the Issuer, a five (5) calendar days’ notice of such proceedings taking place, and, otherwise, within one (1) calendar day of the Issuer receiving notification, if not opened by the Issuer;

(e) the occurrence of any regulatory or criminal investigations or proceedings or freezing of assets by a government authority involving the Issuer, the User or the Guarantor or their employees with regard to money laundering or financing of terrorism or economic sanctions;

(f) the occurrence of any Event of Default within one (1) calendar day of the Issuer receiving notification;

(g) bi-annual Insurance Confirmation Certificates.

14. DEFAULT

14.1 Events of Default

Each of the events set out in this Clause 14.1 is an Event of Default (whether or not caused by any reason whatsoever outside the control of the Issuer or any other person).

(a) Non-payment

The Issuer or the User does not pay on the due date any amount in principal or Coupons or other applicable sums payable by it under any Finance Document at the place, in the funds and in the currency in which it is expressed to be payable unless the failure to pay is due solely

to technical or administrative delays in the transmission of funds and the relevant amount is paid in full within two (2) Business Days of the due date.

(b) Breach of information undertakings

The Issuer, the User, the Guarantor or any Security provider fails to comply with any information undertaking, provided such failure is not remedied within five (5) Business Days after the Issuer’s is notified of such failure.

(c) Access to the Equipment

The Lease Servicer is not granted access to the Equipment as provided for in Clause 13.18 (Equipment – insurance – maintenance).

(d) Financial Statements

The Issuer’s, the User’s, the Guarantor’s or any Security provider’s auditors refuse to certify their financial statements.

(e) Breach of other obligations

The Issuer, the User, the Guarantor or any Security provider fails to comply with any of their other obligations under any Finance Document or any Lease Transaction Document, other than those specified in paragraph (a) above and, if that failure is capable of remedy, it is not remedied within five (5) Business Days of the earlier of:

(i) the Bondholders’ Representative notifying the Issuer of that default; and

(ii) the Issuer becoming aware of the relevant matter.

(f) Misrepresentation

A representation, warranty or statement made or repeated by or on behalf of the Issuer, the User, the Guarantor or any Security provider, in any Finance Document or in any certificate or notice delivered for and on behalf of the Issuer under or in connection with any Finance Document, is incorrect in any respect and, if the facts and circumstances causing such misrepresentation are capable of remedy they are not remedied within five (5) Business Days of the misrepresentation, warranty or statement.

(g) Insolvency

(i) The Issuer, the User, the Guarantor or any Security provider is unable or admits inability to pay its debts as they fall due or is deemed to or declared to be unable to pay its debts under applicable law, suspends making payments on any of its debts or, by reason of actual or anticipated financial difficulties, commences negotiations with one or more of its creditors (other than the Bondholder) with a view to rescheduling any of its indebtedness.

(ii) The Issuer, the User, the Guarantor or any Security provider is in a state of cessation des paiements or becomes insolvent for the purpose of any insolvency law.

(iii) A moratorium is declared in respect of any indebtedness of the Issuer, the User, the Guarantor or any Security provider.

(h) Insolvency proceedings

(i) any corporate action, legal proceedings or other procedure or step is taken in relation to:

(A) the suspension of payments, a moratorium of any indebtedness, dissolution, the opening of proceedings for sauvegarde (including sauvegarde accélérée), redressement judiciaire or liquidation judiciaire or reorganisation of the Issuer other than a solvent liquidation or reorganisation of the Issuer, the User, the Guarantor or any Security provider;

(B) a composition, compromise, assignment or arrangement with any creditor of the Issuer, the User, the Guarantor or any Security provider for reason of financial difficulties;

(C) the appointment of a liquidator (other than in respect of a solvent liquidation of the Issuer, the User, the Guarantor or any Security provider) receiver, administrator, administrative receiver, provisional administrator or other similar officer in respect of the Issuer, the User, the Guarantor or any Security provider or any of their respective assets; or

(ii) Any "mandataire ad hoc", "administrateur judiciaire", "administrateur provisoire", "conciliateur" or "mandataire liquidateur", or the like (including the appointment of any person as a result of procédure de sauvegarde (including sauvegarde accélérée) or any similar proceeding set forth in Livre VI, Titre I, Titres II, III and IV of the French Code de Commerce), is appointed in respect of the Issuer, the User, the Guarantor or any Security provider.

(iii) A judgment is issued for the judicial liquidation "liquidation judiciaire" or the "redressement judiciaire" or the transfer of the whole or part of the business "cession de l'entreprise" of the Issuer, the User, the Guarantor or any Security provider.

(i) Invalidity and unlawfulness

In each case in a manner or to an extent which is materially prejudicial to the interests of the Finance Parties under the Finance Documents:

(i) any obligation of the Issuer under any Finance Document is or becomes invalid or

unenforceable;

(ii) any obligation of the User, the Guarantor or any Security provider under any Lease Transaction Document is or becomes invalid or unenforceable;

(iii) it is or it becomes unlawful for the Issuer to perform any of its obligations under any Finance Document;

(iv) any Finance Document or any Lease Transaction Document ceases to be effective or any Security pursuant to a Security Document ceases to be effective or is alleged by a party to it (other than a Finance Party) to be ineffective, to the extent it materially and adversely affects the interest of the Finance Parties under the Finance Documents.

unless such situation is capable of remedy and is remedied within five (5) Business Days of the earlier of the Issuer receiving prior written notice of such situation from the Bondholders’ Representative and the Issuer becoming aware of such situation.

(j) Cessation of Business

The Issuer, the Guarantor, the User or any Security provider suspends or ceases to carry on (or threatens to suspend or cease to carry on) all or a material part of its business.

(k) Lease Transaction Document

A termination event occurs under a Lease Transaction Document.

(l) Conciliation Protocol

Any party to the Conciliation Protocol is in breach of its obligations under the Conciliation Protocol.

(m) Cross Default

(i) Any Financial Indebtedness of the Issuer, the User, the Guarantor or any Security provider is not paid when due nor within any originally applicable grace period.

(ii) Any Financial Indebtedness of the Issuer, the User, the Guarantor or any Security provider is declared to be or otherwise becomes due and payable prior to its specified maturity as a result of an event of default (however described).

(iii) Any commitment for any Financial Indebtedness of the Issuer, the User, the Guarantor or any Security provider is cancelled or suspended by a creditor of the Issuer, the User, the Guarantor or any Security provider as a result of an event of default (however described).

(iv) Any creditor of the Issuer, the User, the Guarantor or any Security provider becomes entitled to declare any Financial Indebtedness of the Issuer, the User, the Guarantor or any Security provider due and payable prior to its specified maturity as a result of an event of default (however described).

(v) Notwithstanding the foregoing, no Event of Default will occur under this Clause if the aggregate amount of Financial Indebtedness or commitment for Financial Indebtedness of the Group taken as a whole is, at any time, less than one million euro (1,000,000 EUR).

(n) Expropriation - Nationalisation

The expropriation or nationalisation of all or part of the Equipment by any Governmental Authority or any other competent authority.

(o) Disputes

(i) The existence of any litigation, arbitration or administrative proceedings (x) to which the Issuer is a party or (y) which is or, is reasonably expected to be, finally determined against the Guarantor, the User or any Security provider.

(ii) The non-enforcement by the Issuer, the Guarantor, the User or any Security provider of a judicial decision or arbitral award which has become definitive.

Notwithstanding the foregoing, no Event of Default will occur under this Clause if the aggregate amount of the relevant litigation, arbitration or administrative proceedings or judicial decision or arbitral award is (x) in respect of the Issuer, only under item (i), for an amount less than five thousand euros (5,000 EUR), if the Issuer has contested in good faith such litigation, arbitration or administrative proceedings and (y) in respect of the User, the Guarantor or any Security Provider, with respect to the Group taken as a whole, under items (i) and (ii), for an amount less than one million euro (1,000,000 EUR).

(p) Payment incident

The occurrence of a payment incident (incident de paiement) with respect to the Issuer, the User, the Guarantor or any Security provider which is declared to the Banque de France and which is not remedied within five (5) Business Days starting from the date of its declaration.

(q) Irreparably compromised situation

The occurrence of an irreparably compromised situation (situation irrémédiablement compromise) with respect to the Issuer, the User, the Guarantor or any Security provider.

(r) Regulatory representations, warranties and undertakings

(i) A representation, warranty or statement made or repeated by or on behalf of the Issuer with respect to Clauses 13.22 (Sanctions), 23 (Confidentiality), 24 (Data protection), 25 (No conflict of interest and anti-corruption clause) and 26 (Prevention of money laundering) is incorrect in any material respect; and

(ii) The Issuer fails to comply with any undertaking pursuant to Clauses 13.22 (Sanctions), 23 (Confidentiality), 24 (Data protection), 25 (No conflict of interest and anti-corruption clause) or 26 (Prevention of money laundering),

such Event of Default not being capable of remedy.

(s) Material Adverse Effect

Any event or circumstance occurs (other than those described in (a) to (q) (inclusive) above) which has or is reasonably likely to have a Material Adverse Effect.

14.2 Acceleration and occurrence of an Event of Default

The Bondholders’ Representative is entitled, at its discretion, after consulting with the Bondholders and at the direction of the Majority Bondholders, by notice to the Issuer, do any of the following, in addition and without prejudice to any other rights or remedies which it or any other Finance Party may have under any other Finance Document:

(i) declare that the relevant Event of Default has occurred; and/or

(ii) demand that all or part of the Bonds, together with accrued Coupons, and all other amounts accrued under these Terms and Conditions, including but not limited to enforcement costs and the Early Redemption Fee, be immediately due and payable, whereupon they shall become immediately due and payable.

15. BONDHOLDERS REPRESENTATION

15.1 In accordance with article L.228-46 of the French Code de commerce, the Bondholders shall form a group (Masse) with legal personality and the statutory provisions in relation to the "masse" and the "représentant de la masse" (ʺBondholders’ Representative”) shall apply to the issue.

15.2 The Masse in that sole capacity, and not any Bondholder acting individually, can exercise the rights, carry out the claims and pursue any action pursuant to the Bonds, without prejudice to any rights that may be exercised individually by the Bondholders, in accordance with, and subject always to these Terms and Conditions.

15.3 The Masse shall have a distinct legal personality and shall act, in part through its Bondholders’ Representative (le “representant de la masse”) and in part through the collective decisions of the Bondholders (the “Collective Decisions”).

15.4 As long as the Bonds are held by one Bondholder, such Bondholder shall exercise all the powers and rights and obligations of the Bondholders acting through Collective Decisions in accordance with the provisions of the French Code de commerce. The Issuer shall keep a the decisions taken by the sole Bondholder in the Register and shall make it readily available to any Bondholder for inspection and for taking copies thereof or extracts therefrom.

15.5 The first Bondholders’ Representative shall be DEVA CAPITAL MANAGEMENT COMPANY S.L.U., a company incorporated under the laws of Spain, whose registered office is located at Xxxxxxx xx Xxxxxxxxx, x/x, 00000 Xxxxxxxx xxx Xxxxx, Xxxxxx, Xxxxx with tax identification number B-88291331 and registered with the Commercial Registry of Madrid under tome 38725, page 50, sheet M-688536, as management company.

15.6 Any replacement thereof shall be notified to the Issuer in accordance with the applicable legal and regulatory provisions.

15.7 The Masse shall be domiciled at the Issuer's registered office.

15.8 If any Masse assembly is convened, the Bondholder shall meet at the Issuer’s registered office or in any other location specified in the convening notices. The convening notices to each Masse general assemblies shall be sent to the Bondholder at the Issuer's expense, in compliance with Clause 21 (Notices) hereinafter.

16. GENERAL MEETINGS AND WRITTEN CONSULTATIONS OF THE BONDHOLDERS

16.1 General meetings of the Bondholders

(a) For all purposes set out in the Finance Documents and without prejudice to the provisions of Clause 16.2 (Written consultations of the Bondholders) below, other than for the purposes set out in paragraph (b) below, a general meeting of the Bondholders may be held at any time at the registered office of the Issuer or in any other place indicated in the notice convening the meeting, on convocation either by the Issuer or by the Bondholders’ Representative.

(b) Notwithstanding anything to the contrary in any Finance Documents, in accordance with article L.228-68 of the French Code de commerce, a general meeting of the Bondholders may not increase amounts payable by Bondholders or more generally any liabilities or obligations of the Bondholders, nor establish any unequal treatment between the Bondholders. In addition, a general meeting may not deliberate on the conversion of the Bonds into shares. For the avoidance of doubt, all decision referred to in this paragraph shall be taken with the individual consent of each Bondholder.

(c) In addition, one or more Bondholders, holding together at least 1/30th of the Outstanding Principal of the Bonds, may address to the Bondholders’ Representative and the Issuer a demand for convening of the general meeting. If such general meeting has not been convened within two (2) months after such demand, the Bondholders may commission one of them to petition a competent court in Paris to appoint an agent (mandataire) who will convene the general meeting.

(d) Notice of the date, hour, place and agenda of any general meeting shall be addressed in writing by the Issuer, or, as applicable, the Bondholders’ Representative to each Bondholder not less than ten (10) Business Days prior to the date of the general meeting on first convocation and three (3) Business Days on second convocation. A notice convening a general meeting of Bondholders may be sent by e-mail.

(e) A notice convening a general meeting of Bondholders shall include, in addition to the information set out in paragraph (c) above and in accordance with article R.228-66 of the French Code de commerce, the description of the Bonds, the capacity, name and address or registered office of the person convening the general meeting and, as the case may be, date of the court decision appointing the agent convening the general meeting.

(f) Each Bondholder or, as the case may be, the Bondholders’ Representative will have the right, as from the date specified in the notice of the general meeting, to consult or make a copy of the text of the agenda of the general meeting or of the resolutions which will be proposed and of the reports which will be presented at the general meeting, all of which will be available for inspection by the relevant Bondholders or, as the case may be, the Bondholders’ Representative, at the registered office of the Issuer an/or at any other place specified in the notice of the general meeting. Such documents may also be communicated to the Bondholders or the Bondholders’ Representative by email.

(g) Each Bondholder has the right to participate in the general meeting in person or by proxy.

(h) The general meeting of the Bondholders is chaired by the Bondholders’ Representative, acting in such capacity and without the right to vote.

(i) Each Bond carries the right to one vote.

(j) Unless otherwise specified in the Finance Documents, decisions of the general meeting shall be approved by the Majority Bondholders and once approved shall be binding on all Bondholders and the Issuer.

(k) Minutes of each general meeting shall be recorded, and shall include an attendance register, the agenda and the resolutions submitted to the vote during each general meeting. The minutes shall be executed by the Bondholders’ Representative and kept at the registered office of the Issuer.

(l) The rights of each Bondholder to participate in the general meetings must be evidenced by entries in the Register in the name of such Bondholder on the Business Day preceding the date of the relevant general meeting.

(m) The Issuer will pay all expenses relating to the operation of the Masse, including expenses relating to the calling and holding of general meetings and, more generally, all administrative expenses resolved upon by the general meeting, it being expressly stipulated that no expenses may be imputed against interest payable under the Bonds.

16.2 Written consultations of the Bondholders

(a) In accordance with Article L.228-46-1 of the French Code de commerce, any decision of the Bondholders may be taken by way of written consultation of the Bondholders, which can be carried out through electronic means.

(b) A written consultation of the Bondholders may be carried out at any time, at the demand either of the Issuer or the Bondholders’ Representative.

(c) In addition, one or more Bondholders, holding together at least 1/30th of the Outstanding Principal of the Bonds may address to the Bondholders’ Representative and the Issuer a demand for carrying out a written consultation. If such written consultation has not been carried out within fifteen (15) Business Days after such demand, the Bondholders may commission one of them to carry out the written consultation.

(d) For the purposes of carrying out a written consultation, the Issuer or the Bondholders’ Representative, as applicable, shall address in writing (including by email), no later than ten

(10) Business Days prior to the Consultation End Date (as defined below) a notice to each Bondholder, which shall include (a "Consultation Notice"):

(i) the description of the Bonds;

(ii) the capacity, name and address or registered office of the person sending the

Consultation Notice;

(iii) the purpose of the written consultation;

(iv) the date on which the responses of the Bondholders shall be received at the latest (the "Consultation End Date"); and

(v) the procedure for responding to the written consultation, which may include, for the avoidance of doubt, the filling in of a form, free response by return of email, or any other procedure as may be decided by the person initiating the consultation, it being provided that the procedure shall always provide that response to a written consultation shall be made to the Bondholders’ Representative.

(e) The Consultation Notice shall be accompanied with copies of all reports or other documents which are relevant for the decisions referred to in the Consultation Notice.

(f) Each Bond carries the right to one vote.

(g) Unless otherwise specified in the Finance Documents, decisions taken by way of written consultation shall be approved by the Majority Bondholders and once approved shall be binding on all Bondholders and the Issuer.

(h) On the Consultation End Date, the Bondholders’ Representative shall notify the Issuer and all Bondholders of the results of the written consultation.

(i) Copies of all Consultation Notices and all responses from the Bondholders shall be kept by the Issuer.

(j) The rights of each Bondholder to participate to any written consultation must be evidenced by entries in the Register in the name of such Bondholder on the Business Day preceding the Consultation End Date.

(k) The Issuer will pay all expenses relating to written consultations, it being expressly stipulated that no expenses may be imputed against interest payable under the Bonds.

17. NO RECOURSE, LIMITED RECOURSE AND NON-PETITION

17.1 No recourse

No recourse contained in the Finance Documents shall be had against the Lease Servicer acting as director of the Issuer. No personal liability shall attach to or be incurred by the Lease Servicer acting as director of the Issuer, under or by reason of the obligations contained in the Finance Documents, or implied therefrom, and any and all personal liability of the Lease Servicer acting as director of the Issuer for breaches by the Issuer of any such obligations is hereby deemed expressly waived by the Finance Parties.

17.2 Limited recourse

The obligations of the Issuer to pay any amounts due and payable in respect of the Bonds, the Finance Documents or otherwise shall be limited to the proceeds available at such time to make such payments in accordance with Clause 6 (PAYMENTS). Notwithstanding any other provision of the Finance Documents or otherwise, if the proceeds realised upon enforcement of the Security granted by the Issuer over the Secured Property relating are less than the aggregate amount payable in such circumstances by the Issuer in respect of the Bonds and the Finance Documents (other than the Lease Transaction Documents) (such negative amount being referred to herein as a “shortfall”), the obligations of the Issuer in respect of the Bonds and the Finance Documents (other than the Lease Transaction Documents) in such circumstances will be limited to the proceeds of such Secured Property in accordance with Clause 6 (PAYMENTS) and in such circumstances, any unpaid debt of the Issuer with respect to such Bonds shall be extinguished and shall not thereafter revive.

In such circumstances the Issuer therefore will not be obliged to pay, and the other assets (if any) of such Issuer will not be available for payment of, such shortfall, which shortfall shall be borne by the Finance Parties in accordance with Clause 6 (PAYMENTS) (applied in reverse order for partial payments), the rights of such persons to receive any further amounts in respect of such obligations shall be extinguished and none of the Finance Parties may take any further action to recover such amounts.

For the avoidance of doubt, nothing in this Clause 17 shall prevent the enforcement of the Security Documents in accordance with their terms.

17.3 Non-Petition

No Finance Party shall be entitled at any time to institute against the Issuer, or join in any institution against the Issuer, any insolvency or insolvency proceedings under any applicable

bankruptcy or similar law in connection with the obligations of the Issuer owed under the Bonds or the Finance Documents, for a period ending eighteen (18) months and one (1) Business Day after all amounts due under the Bonds have been fully and irrevocably paid.

18. SEVERABILITY

If a provision of these Terms and Conditions is or becomes illegal, invalid or unenforceable in any jurisdiction, that shall not affect:

(a) the legality, validity or enforceability in that jurisdiction of any other provision of these Terms and Conditions; or

(b) the legality, validity or enforceability in other jurisdictions of that or any other provision of these Terms and Conditions.

19. ASSIGNMENT

(a) The Bonds shall be freely transferable, for a minimum of one hundred thousand (100.000) Bonds, and the Bondholder is entitled to transfer the Bonds or otherwise create security over the Bonds held by it (or their proceeds), except, for so long as no Event of Default has occurred and is continuing, to (i) entities which are competitors of the Issuer and which are listed in the list annexed in Schedule 3 and (ii) entities located in a Non-Cooperative State. The Bondholder shall inform the Issuer prior to any transfer.

(b) The Issuer shall at all times keep in the Register the number of outstanding Bonds, and all subsequent transfers, repayments and changes of ownership in respect thereof, as well as the names and addresses of the Bondholders.

(c) The Issuer shall make the Register readily available to the Bondholder (or to any person authorised by any of them) for inspection (including the taking of copies).

(d) Any transfer shall be made by way of a duly completed ordre de mouvement which shall be notified to the Issuer together with a transfer agreement, xxxx completed and executed by both the transferee and the transferor. A transfer of Bonds shall only be effective if made in accordance with the provisions of the Finance Documents and on:

(i) the performance by the Bondholders' Representative, if applicable, of all "know your customer" or other checks relating to any person that it is required to carry out in relation to such transfer to a new Bondholder, the completion of which the Bondholders' Representative shall promptly notify to the existing Bondholder and the new Bondholder; and

(ii) the Issuer registering the corresponding transfer in the Register.

(e) Following receipt by the Issuer of the documents referred to in paragraph (d) above, the Issuer shall (i) register the corresponding transfer in the Register and (ii), upon request, provide the Bondholders' Representative, and the relevant transferee with a certified copy of the updated Register.

20. WAIVERS, REMEDIES CUMULATIVE

20.1 The rights of the Bondholders’ Representative and/or the Bondholder under these Terms and Conditions:

(i) may be exercised as often as necessary;

(ii) are cumulative and not exclusive of its rights under general law; and

(iii) may be waived only in writing and specifically.

20.2 Delay in exercising or non-exercise of any such right is not a waiver of that right.

21. AMENDMENTS

These Terms and Conditions may not be amended unless agreed in writing by the Parties.

22. NOTICES

22.1 Giving of notices

All the communications between the Finance Parties and the Issuer should be made through the Bondholders’ Representative (unless otherwise provided in these Terms and Conditions).

All notices or other communications under or in connection with the Subscription Agreement and these Terms and Conditions shall be given in writing or by electronic mail. Any such notice will be deemed to be given as follows:

(a) if in writing, when received;

(b) if by electronic mail, when received in legible and virus free form.

However, a notice given in accordance with the above but received on a non-working day or after business hours in the place of receipt will only be deemed to be given on the next working day in that place.

22.2 Addresses for notices

The address and mail address of each Finance Party for all notices under or in connection with the Subscription Agreement or these Terms and Conditions are as notified by that Finance Party the other Parties by not less than five (5) Business Days' notice.

23. CONFIDENTIALITY

23.1 For the purposes of this Agreement, the terms of any Finance Documents shall be considered “Confidential Information”, and any documentation and information (i) provided in any form (oral, written or any other) and at any time, either before or after the execution of the Finance Documents, by one Party to the other or (ii) acquired in any way by one of the Parties as a result, directly or indirectly, of the contractual relationship between the Parties.

23.2 The Confidential Information includes, but is not limited to, the technical, economic, legal, contractual and commercial information, the information of organisational structure or of any other nature, as well as the findings, concepts, ideas, knowledge, designs, drawings, drafts,

diagrams, models, samples, graphics, source codes and/or any data whether personal data or not.

23.3 Notwithstanding the above, the following shall not be considered Confidential Information:

23.4 information which when received, is of public domain or becomes of public domain except if it results from (i) negligent, fraudulent or wilful acts or defaults made by the receiving Party, (ii) unlawful acts of a third party of whom the receiving Party has knowledge or should have had knowledge of them being unlawful; and/or

23.5 has been obtained by any of the Parties from a third party that is not subject to any confidentiality obligation, as long as the disclosure by the third party does not constitute an unlawful act.

23.6 Both Parties agree to:

(a) limit the use of the other Party´s Confidential Information for the purpose of fulfilling their respective obligations and rights under this Agreement and its Annexes (the "Permitted Use"). The Parties shall maintain the highest level of confidentiality with respect to such Information and shall only provide access to its Affiliates, employees, partners or consultants or subcontractors who are required to have access for the Permitted Use. Such affiliates, employees and partners or subcontractors must have previously undertaken a confidentiality commitment at least equivalent to the scope of this Clause;

(b) protect and keep secret the other Party's Confidential Information, with the same or, at least, not lesser diligence than that applicable to its own information and, in particular, without limitation, to take reasonable measures (analog and digital) to keep it secret;

(c) not to disclose, make public or otherwise make available to any third party (except Affiliates, employees or collaborators or advisors of the Parties, and, where applicable, subcontractors that may need such Information for the Permitted Use) any Confidential Information of the other Party without the other Party's prior written consent. Notwithstanding the foregoing, a Finance Party may share the Issuer's Confidential Information with the employees or advisors of those entities of Santander Group that wish to adhere to this Agreement or benefit from the effects thereof.

23.7 The obligation of confidentiality shall not prevent a Party from disclosing the other Party's Confidential Information:

(a) that is required by applicable law regulation, or as a result of regulations issued by public bodies or authorities (or its delivery to said organizations or public authorities is convenient in order to avoid non-compliance with the applicable regulations), provided that the receiving Party informs (to the extent practical) the other Party before delivering the requested Confidential Information, discloses the minimum of Confidential information required, and takes action in order to minimise the damage that said disclosure may cause to the other Party;

(b) is necessary for it to be disclosed to third parties in order to make the notifications provided in this Agreement or for its application; and

(c) not copy, duplicate, keep, use, store, modify, create works derived from the Confidential Information of the other Party perform analysis, obtain statistical data, behavior or trends, or reproduce, in whole or in part, such Information, except as strictly necessary for the Permitted Use.

23.8 The confidentiality obligations established in this clause shall be valid for the duration of this Agreement and after its termination, for any reason, indefinitely.

23.9 The Parties recognize that, with respect to Confidential Information that is a trade secret, the duty of confidentiality is essential to the existence of the trade secret itself. Therefore, the

Parties confirm that their commitment to confidentiality will remain in force until the trade secret has ceased to exist for any reason.

23.10 Upon termination of the Agreement, each Party undertakes, with respect to the Confidential Information of the other Party held by it or by its Affiliates, employees, collaborators or advisors (including, where applicable, the subcontractor), to destroy it, at the specific request of the Party and in the manner established by that Party, irrespective of the form in which this Information is registered. Likewise, each Party is obliged to certify to the other Party that any material that it holds has been deleted or destroyed in accordance with the previous provisions of this Clause and, therefore, that it does not have any copies of all or part of the documentation related to it.

23.11 Notwithstanding the foregoing, the Parties may keep the Confidential Information (i) for the purposes of complying with (a) the obligations that they have established by law, (b) resolutions issued by public institutions or authorities, (c) internal compliance or audit procedures, and/or (d) the obligations required by their insurance coverage; (ii) in the case of such Confidential Information, following internal data storage protocols, be automatically stored in electronic back-up systems, as long as such Confidential Information is not accessed; or, for clarification purposes, (iii) if the Confidential Information had become public in accordance with the terms of this Agreement.

23.12 Under no circumstances may the Issuer delegate the management of and/or access to a Finance Party’s Confidential Information without the express written consent of the Finance Party.

23.13 If the Issuer intends to process or store the confidential information in the facilities/infrastructure/data center of a third party or operated by a third party, it must also request authorization from a Finance Party. The location of such data center/infrastructure must be in the EU, and in case of transfer outside the EU they will have to ensure that this operation is carried out in compliance with the applicable law.

23.14 The obligations set out in this Clause shall be complied by both Parties and their employees, but also by their Affiliates (including, where applicable, any subcontractor) and all those who may have, by any way, lawful and according to this Agreement, access to Confidential Information.

24. DATA PROTECTION

24.1 Each Party hereby informs, and requests the other Party to inform, where applicable, the signatories, the contact persons, the employees, agents and/or authorized representatives involved in the processing of the personal data included in this Agreement that such personal data will be processed by it for the purpose of enabling the execution and control of this Agreement and complying with the legal obligations to which the relevant Party is subject. The personal data will not be disclosed to third parties unless there is a legal obligation, it will be kept for as long as the contractual relationship remains in effect and, even later, until any liability arising therefrom has expired. The data subjects may exercise their rights of access, rectification, erasure, blocking, data portability and restriction of processing (or any other recognized by law) by email xxxx@xxxxxxxxxxx.xxx. Data subjects may also submit any claims or requests relating to the protection of personal data to the Spanish Data Protection Agency at xxx.xxxx.xx.

24.2 Each Party hereby acknowledges the disclosure to the other Party’s group companies of the information provided in the context of the due diligence process or “Know Your Customer”, along with any relevant transactions-related information, that allows such companies to comply

with (i) the Deva Group’s Financial Crime Compliance internal policies, (ii) their legal obligations relating to the anti-money laundering and counter terrorism financing regulations and (iii) their regulatory reporting to the supervisory authorities. In this regard, each Party hereby guarantees to the other Party that the data subjects of the personal data that may be included in the referred information have been duly informed of, and when required by applicable data protection regulation, have expressly consented to, the disclosure of their personal data to that effect.

24.3 Any violation of the provisions provided for herein shall trigger an Event of Default and provide the Bondholders’ Representative the right to terminate this Agreement at its discretion in accordance with Article 14.2 (Acceleration and occurrence of an Event of Default).

25. NO CONFLICT OF INTEREST AND ANTI-CORRUPTION CLAUSE

25.1 The Issuer’s actions with the Finance Parties must always comply with the principle of transparency and honesty in any relationship that they may have with the public administration and individuals, rejecting any actions that may be linked to bribery, influence peddling, or any form of corruption, both before the public sector and the private sector. They will refrain from undertaking actions such as offering, delivering, or receiving commissions, gifts (except when socially acknowledged), or benefits of any kind that may be liable to be deemed as acts of corruption.

25.2 The Bondholders’ Representative and the Issuer – meaning the people belonging to each Party that were able to take part in any way in the negotiation of this Agreement--, hereby state that there are not and have not been any conflict of interests between them in the execution of this Agreement, nor has there been any sort of financial link, affinity or personal involvement that, in any way, might had have any kind of influence when establishing terms or the signing of this Agreement.

25.3 Likewise, the Issuer will take all the necessary steps in order to avoid any conflict of interests during the term of the Agreement, whether these being related to financial interests, family or relationship bonds, or any other sort of shared interests that may endanger the impartial and unbiased execution of the Agreement.

25.4 The Issuer will notify in writing to their employees and every person that is authorized to represent them or to make decisions on their behalf in writing about the relevant obligations and will avoid at all costs any situation that may result in a conflict of interests. Likewise, the Issuer will notify in written form about the obligations of the third parties that are involved in the execution of the Agreement, including the subcontractors.

25.5 In the event of any situation that might be or might be deemed as a conflict of interest during the term of this Agreement, the Issuer shall inform immediately the Bondholders’ Representative in writing for the Bondholders’ Representative’s assessment, in order to duly study the situation. The Bondholders’ Representative will be authorized, when appropriate, to terminate the Agreement if the Bondholders’ Representative believes that said situation would not be compatible with a correct performance of the Agreement.

25.6 Regarding this Agreement, the Parties hereby state that during the negotiations and in order to enter the Agreement they have, at all times, acted in an ethical and professional manner and they hereby agree not to start any practice that might, in any manner, result in the violation of laws or the applicable regulations regarding corruption in any country which legislation is applicable to this Agreement or of their respective codes of conduct. In this respect, both Parties state that as of the date of execution of this Agreement, they have not received any kind of promise of payment, commission or retribution from the other Party or from third parties

or entities and they hereby agree not to offer them nor to receive them in the future, as a result of or to initiate or have business relationships with the other Party.

25.7 For the purposes of this Clause, it will be understood as “Parties” anyone belonging to each Party that was in any way involved in the negotiation or execution of this Agreement. Likewise, both Parties agree to not receive nor offer, promises of payments or gifts from/to third parties, entities, or to the other Party, with the purpose of starting or continuing business relationships with the other Party.

25.8 The Parties hereby state that they have taken action regarding criminal risk prevention and that they will use effective plans for prevention, management and control of criminal risk established by the applicable law regarding this matter at any time, in which the due supervision and control measures are included, in order to prevent any wrongdoing that may be committed by the legal representatives or by their employees, or in order to significantly reduce the risk of commission.

25.9 The non-compliance with this Clause, as well as any unethical behaviour that may arise during the business relationship, must be immediately notified to the affected Party via the duly authorized people in accordance with the internal procedures, and it will grant the other Party the power to request the early termination of the Agreement, and when appropriate, to claim for damages as provided by law.

26. PREVENTION OF MONEY LAUNDERING

26.1 If the Issuer is subject to prevention of money laundering and counter terrorism financing laws, it must comply with such laws at all times, and must disclose any incident which might have arisen in that regard both before entering into any form of contractual relationship with Santander Group and throughout such relationship.

26.2 The Finance Parties may be able to terminate this Agreement, and have the right, when applicable, to compensation for damages when:

(a) They detect a breach of the laws and regulations referred to above, if the Issuer is considered to be subject to them or, in any event, if the Issuer has been or is subject to investigation or court proceedings in respect of courses of conduct or activities relating to money-laundering and/or terrorist financing.

(b) The Issuer becomes a Sanctioned Person.

27. LANGUAGE

The original English language version of these Terms and Conditions shall prevail over any French translations hereof. All notices and other communications and documents to be delivered by the party to another party hereunder shall be in the English language or in the French language accompanied by an English translation.

28. GOVERNING LAW AND JURISDICTION

28.1 Governing law

These Terms and Conditions is governed by and construed in accordance with French law.

28.2 Submission to jurisdiction

The Tribunal de commerce de Paris has exclusive jurisdiction to settle any dispute arising out of or in connection with the Bonds (including a dispute regarding the existence, validity or termination of the Bonds).

SCHEDULE 1 REDEMPTION SCHEDULE

Redemption

  Date     Amount

Redemption

  Date     Amount

24 févr 2022		27 févr 2025	216 666,67
27 mars 2022	216 666,67	27 mars 2025	216 666,67
27 avr 2022	216 666,67	27 avr 2025	216 666,67
27 mai 2022	216 666,67	27 mai 2025	216 666,67
27 juin 2022	216 666,67	27 juin 2025	216 666,67
27 juil 2022	216 666,67	27 juil 2025	216 666,67
27 août 2022	216 666,67	27 août 2025	216 666,67
27 sept 2022	216 666,67	27 sept 2025	216 666,67
27 oct 2022	216 666,67	27 oct 2025	216 666,67
27 nov 2022	216 666,67	27 nov 2025	216 666,67
27 déc 2022	216 666,67	27 déc 2025	216 666,67
27 janv 2023	216 666,67	27 janv 2026	216 666,67
27 févr 2023	216 666,67	27 févr 2026	216 666,67
27 mars 2023	216 666,67	27 mars 2026	216 666,67
27 avr 2023	216 666,67	27 avr 2026	216 666,67
27 mai 2023	216 666,67	27 mai 2026	216 666,67
27 juin 2023	216 666,67	27 juin 2026	216 666,67
27 juil 2023	216 666,67	27 juil 2026	216 666,67
27 août 2023	216 666,67	27 août 2026	216 666,67
27 sept 2023	216 666,67	27 sept 2026	216 666,67
27 oct 2023	216 666,67	27 oct 2026	216 666,67
27 nov 2023	216 666,67	27 nov 2026	216 666,67
27 déc 2023	216 666,67	27 déc 2026	216 666,67
27 janv 2024	216 666,67	27 janv 2027	216 666,67
27 févr 2024	216 666,67	27 févr 2027	216 666,47
27 mars 2024	216 666,67
27 avr 2024	216 666,67
27 mai 2024	216 666,67
27 juin 2024	216 666,67
27 juil 2024	216 666,67
27 août 2024	216 666,67
27 sept 2024	216 666,67
27 oct 2024	216 666,67
27 nov 2024	216 666,67
27 déc 2024	216 666,67
27 janv 2025	216 666,67

SCHEDULE 2 ORIGINAL EQUIPMENT

EQUIPMENT DETAILS AND PRICE OF THE EQUIPMENT AT 000, XXXXXX XX XXXXXXX XX XXXXXX, 00000 XXXXXX AND ITS INDUSTRIAL ZONE (ZI DU HOQUET)

ITEM NUMBER	SAP ID	DESCRIPTION	MANUFACTURER	MODEL	SERIAL NUMBER	YEAR OF MAKE	ORIGINAL EQUIPMENT COST (EUROS)
D-101	10039261	DISTRIBUTION GOUTTE DE VERRE DROITE	AIF	Z058	N/A	2000	35,000.00
	10039264	DISTRIBUTION GOUTTE DE VERRE GAUCHE	AIF	Z058	N/A	2000
D-102	10039259	GROUPE HYDRAULIQUE GHV5 No 20	AIF	GHV5	20	2006	16,000.00
D-103	10039262	GROUPE HYDRAULIQUE GHV5 No 21	AIF	GHV5	21	2006	15,000.00
D-104	10039260	PRESSE P9 N 16	AIF	P9	16	2001	150,000.00
D-105	10039263	PRESSE P9 N 17	AIF	P9	17	2001	140,000.00
D-106	10039253	REBRULEUSE RC 180 N 28	AIF	RC 000	00	0000	180,000.00
D-107	10039257	TAPIS TRANSF TREMPE DROIT LARG 250	AIF	Z096	N/A	2001	15,000.00
D-108	10039256	TAP AUTO 400 TA032	AIF	Z096	TA032	1983	5,000.00
D-109	10039254	METT A ARCHE MAA058	AIF	Z096	MAA058	2013	3,500.00
D-110	10039249	ARCHE C 17517 A108	AIF	Z001	A108	1993	62,000.00
D-111	10039258	TAPIS TRANSF ARCHE DROIT LARG 250	AIF	Z096	N/A	2012	4,500.00
D-112	10039190	SORTIE CONDITIONNEMENT N.E2921	AIF	N/A	E2921	2005	8,000.00
D-113	10039267	DISTRIBUTION GOUTTE VCA 81	AIF	Z058	VCA 81	2012	17,500.00
D-114	10039265	GROUPE HYDRAULIQUE GHV5 No 23	AIF	GHV5	23	2018	7,000.00
D-115	10039266	PRESSE P9 XX X 00	XXX	X0 XX	8	1993	100,000.00
D-116	10039268	REBRULEUSE RC 180 N 29	AIF	RC 000	00	0000	210,000.00
D-117	10039270	TAPIS TRANSF DROIT LARG 400 TT065	AIF	Z096	TT065	2013	20,000.00
D-118	10039269	TAPIS TRANSF DROIT LARG 400 TT064	AIF	Z096	TT064	2013	8,000.00
D-119	10039277	TREMPE TD080	AIF	Z102	080	2001	275,000.00
D-120	10039271	TREMPE TD079	AIF	Z102	079	2001	295,000.00
D-121	10039194	SORTIE CONDITIONNEMENT E2922	AIF	Z099	E2922	1998	2,500.00
D-122	10039193	ROBOT FANUC M410 IHSR J3 R153 (MDA)	FANUC	M410 IHSR J3	R153	1999	43,000.00
	10112714	MODULE DECHARGEMENT ARCHE E4210 (MDA)	AIF	Z064	E4210	1999
D-123	10039203	SORTIE CONDITIONNEMENT E2923	AIF	Z099	E2923	1998	3,500.00
D-124	10039198	ROBOT FANUC M410 IHSR J3 R154 (MDA)	FANUC	M410 IHSR J3	R154	1999	30,000.00
D-125	10039273	DISTRIBUTION GOUTTE VCA 144 13° DROIT	AIF	Z058	VCA 144	2014	30,000.00

ITEM NUMBER	SAP ID	DESCRIPTION	MANUFACTURER	MODEL	SERIAL NUMBER	YEAR OF MAKE	ORIGINAL EQUIPMENT COST (EUROS)
D-127	10039289	DISTRIBUTION GOUTTE DE VERRE GAUCHE	AIF	Z058	N/A	2001	32,500.00
	10039288	DISTRIBUTION GOUTTE DE VERRE DROITE	AIF	Z058	N/A	2001
D-128	10108674	GROUPE HYDRAULIQUE GHD	AIF	GHD	N/A	2001	15,000.00
D-129	10039280	PRESSE 2P24M No 02	AIF	2P24M	02	1993	100,000.00
D-130	10039286	TAPIS TRANSF DROIT LARG 120	AIF	Z096	N/A	2016	7,000.00
D-131	10039281	REBRULEUSE RC154 N 18	AIF	RC154	18	2001	105,000.00
D-132	10039284	TAPIS TRANSF DROIT LARG 250 TT067	AIF	Z096	TT067	2016	4,500.00
D-133	10039279	HOTTE HT11 No 1	AIF	Z042	1	1993	7,500.00
D-134	10039283	TAP AUTO 400 TA033	AIF	Z096	TA033	2001	9,500.00
D-135	10039282	METT A ARCHE MAA06O	AIF	Z096	MAA06O	2011	4,500.00
D-136	10039287	ARCHE V175/4 A109	AIF	Z001	A 109	2008	75,000.00
D-137	10039212	SORTIE CONDITIONNEMENT N.E2924	AIF	N/A	E2924	1998	8,000.00
D-138	10039205	CONTROLE CAMERA FOND N E5783	AIF	Z017	E5783	2001	15,000.00
D-139	10039204	CONTROLE CAMERA BUVANT N E5773	AIF	Z017	E5773	2010	27,500.00
D-140	10039206	CONTROLE CAMERA PAROI N E5791	AIF	Z017	E5791	2016	30,000.00
D-141	10039211	SGCC TYPE M1 E2597	AIF	Z017	E2597	1989	35,000.00
D-142	10039208	CONTROLE CAMERA PAROI N E5791	AIF	Z080	E5791	1997	30,000.00
	10039207	MODULE PALETTISATION XXXX X0000 (MPV)	AIF	Z064	E4191	1997
D-143	10039301	DISTRIBUTION GOUTTE DE VERRE GAUCHE	AIF	Z058	N/A	2010	32,000.00
	10039300	DISTRIBUTION GOUTTE DE VERRE DROITE	AIF	Z058	N/A	2010
D-144	10039290	GROUPE HYDRAULIQUE GHD No 04	AIF	GHD	4	2012	17,000.00
D-145	10039292	PRESSE PM 24 No 01	AIF	PM24	1	2005	345,000.00
D-146	10039293	REBRULEUSE RC 180 N 27	AIF	RC 000	00	0000	105,000.00
D-147	10039296	TAPIS TRANSF TREMPE DROIT LARG 120	AIF	Z096	N/A	2001	7,000.00
D-148	10039291	HOTTE HT7 No 7	AIF	Z042	7	1983	8,000.00
D-149	10039295	TAP AUTO 250 TA034	AIF	Z096	TA034	2012	7,000.00
D-150	10039294	METT A ARCHE MAA061	AIF	Z096	MAA061	2011	6,000.00
D-151	10039299	ARCHE V300/8 A082	AIF	Z001	A082	1993	110,000.00
D-152	10039223	SORTIE CONDITIONNEMENT N E2925	AIF	Z099	E2925	1988	7,500.00
D-153	10039297	TAPIS TRANSF ARCHE DROIT LARG 250	AIF	Z096	N/A	2016	8,000.00
D-154	10039298	TREMPE TDO82	AIF	TD	082	2001	300,000.00
D-155	10039214	SGCC TYPE C0 E2615	AIF	Z017	E2615	1997	20,000.00
D-156	10039221	ROBOT FANUC M710 IRJB R159 (MPV)	FANUC	M710 IRJB	R159	2001	19,000.00

ITEM NUMBER	SAP ID	DESCRIPTION	MANUFACTURER	MODEL	SERIAL NUMBER	YEAR OF MAKE	ORIGINAL EQUIPMENT COST (EUROS)
	10039219	MODULE PALETTISATION XXXX X0000 (MPV)	AIF	Z064	E4213	2001
D-157	10039308	DISTRIBUTION GQUTTE DE VERRE GAUCHE	AIF	Z058	N/A	2010	52,000.00
	10039307	DISTRIBUTION GOUTTE DE VERRE DROITE	AIF	Z058	N/A	2010
D-158	10039302	GROUPE HYDRAULIQUE GHD No 06	AIF	GHD	6	2012	17,000.00
D-159	10039303	PRESSE 2P24M No 01	AIF	2P24M	01	2001	240,000.00
D-160	10039304	REBRULEUSE RC 154 N 32	AIF	RC 000	00	0000	95,000.00
D-161	10039305	TAPIS TRANSF DROIT LARG 120 TT072	AIF	Z096	TT072	2001	19,000.00
D-162	10039306	TREMPE TD083	AIF	TD	083	2001	300,000.00
D-163	10039239	SORTIE CONDITIONNEMENT E2926	AIF	Z099	E2926	2011	9,000.00
D-164	10039235	ROBOT FANUC X000 XXX0X X000 (MPV)	FANUC	X000 XXX0X	X000	0000	17,500.00
	10039233	MODULE PALETTISATION XXXX X0000 (MPV)	AIF	Z064	E4214	1993
D-165	10017117	DISTRIBUTION GOUTTE DE VERRE DROITE	AIF	Z058	N/A	2014	25,000.00
D-166	10017119	X00 Xx 00 XXXXXX XXXXXXXX	XXX	X00	0	2001	950,000.00
D-167	10017125	TAPIS CONVOYEUR No 05	AIF	N/A	05	2001	7,000.00
D-168	10017122	COUPEUSE C48 No 02	AIF	Z019	C48 02	2001	215,000.00
D-169	10017127	TAPIS TRANSFERT 150	AIF	Z096	N/A	2013	5,000.00
D-172	10017124	ROUE TRANSFERT N 12 (EMHART)	AIF	Z096	12	2007	1,250.00
D-173	10017126	TAPIS AUTO TPA014	AIF	Z096	TPA014	2012	5,000.00
D-174	10017123	METTEUR A L ARCHE TTMA 027	AIF	Z096	TTMA 027	2006	15,000.00
D-175	10017130	ARCHE V300/37 A105	AIF	Z001	A 105	2001	93,000.00
D-176	10112716	MOODULE DECHARGEMENT ARCHE E4215 (MDA)	AIF	Z064	E4215	1999	40,000.00
	10031841	ROBOT FANUC M410 IHWRJ3 R155 (MDA)	FANUC	M410 IHWRJ3	R155	1999
D-177	10028957	SORTIE CONDITIONNEMENT E2927	AIF	Z099	E2927	2012	25,000.00
D-178	10119819	CONTROLE CAMERA FOND E5784	AIF	N/A	E5784	2014	35,000.00
D-179	10031835	CONTROLE CAMERA BUVANT E5776	AIF	Z017	E5776	2014	35,000.00
D-180	10031834	CONTROLE CAMERA PAROI E5792	AIF	Z017	E5792	2014	35,000.00
D-181	10031840	SGCC TYPE M1 E2650	AIF	Z017	E2650	2001	32,000.00
D-182	10031837	MODULE PALETTISATION XXXX X0000 (MPV)	AIF	Z064	E4216	2001	33,000.00
	10031836	ROBOT FANUC X000 XXX0X X000 (MVP)	FANUC	R-J3	E01304045	2001
D-183	10034989	DISTRIBUTION GOUTTE DE VERRE DROITE	AIF	Z058	N/A	2014	30,000.00
D-184	10034740	PRESSE SOUFFLEE H28 18 N 04	AIF	H28	04	2001	95,000.00
D-185	10035185	TAPIS CONVOYEUR	AIF	Z096	N/A	2020	17,500.00
D-186	10034595	COUPEUSE XX00 Xx 0	XXX	XX00	00	0000	170,000.00

ITEM NUMBER	SAP ID	DESCRIPTION	MANUFACTURER	MODEL	SERIAL NUMBER	YEAR OF MAKE	ORIGINAL EQUIPMENT COST (EUROS)
D-187	10032772	TAPIS TRANSFERT DROIT LARG 150	AIF	Z096	N/A	2020	17,500.00
D-190	10032757	ROUE TRANSFERT N 10 (EMHART)	AIF	Z096	10	2009	2,500.00
D-191	10032817	TAPIS AUTO 150	AIF	Z096	N/A	2020	17,500.00
D-192	10032761	METTEUR A L ARCHE MAA062	AIF	Z096	MAA062	2014	6,500.00
D-193	10032765	ARCHE V240/12 A107	AIF	Z001	A 102	2001	105,000.00
D-194	10032833	ROBOT FANUC M410 IHSRJ3 R157 (MDA)	FANUC	M410 IHSRJ3	R157	2001	60,000.00
D-195	10032824	SORTIE CONDITIONNEMENT N.E2928	AIF	N/A	E2928	2010	5,000.00
D-196	10032827	CONTROLE CAMERA FOND E5785	AIF	Z017	E5785	2012	18,000.00
D-199	10032823	SGCC TYPE M1 E2599	AIF	Z017	E2599	1995	22,500.00
D-200	10032832	ROBOT FANUC M710 IRJ3B R162 (MPV)	FANUC	M710 IRJ3B	R162	2002	22,000.00
D-201	10032752	DISTRIBUTION GOUTTE VCA 144 13° DROIT	AIF	Z058	VCA 144	2001	17,500.00
D-202	10032982	PRESSE SOUFFLEE STF 18 No 07	AIF	STF 18	07	2001	510,000.00
D-203	10035222	TAPIS CONVOYEUR No 46	AIF	Z096	46	2001	7,000.00
D-204	10033965	COUPEUSE SCD36 No 07 (DROITE)	AIF	Z019	07	1999	90,000.00
D-205	10032818	TAPIS TRANSFERT DROIT LARG 150	AIF	Z096	N/A	2001	7,500.00
D-206	10032756	HOTTE TRAITEMENT HT6 No 9	AIF	Z042	09	2006	10,000.00
D-208	10032758	ROUE TRANSFERT N 11 (EMHART)	AIF	Z096	11	2001	5,000.00
D-209	10032768	TAPIS AUTO TPA036	AIF	Z096	TPA036	2001	6,000.00
D-210	10032762	METTEUR A L ARCHE MAA063	AIF	Z096	MAA063	2011	4,500.00
D-211	10032766	ARCHE V240/11 A106	AIF	Z001	A 106	2001	92,000.00
D-212	10032835	ROBOT FANUC M410 IHSRJ3 R158 (MDA)	FANUC	M410 IHSRJ3	R158	2001	18,500.00
D-213	10032822	SORTIE CONDITIONNEMENT E2929	AIF	N/A	E2929	2011	6,000.00
D-214	10032828	CONTROLE CAMERA FOND E5786	AIF	Z017	E5786	1986	5,000.00
D-215	10046626	CONTROLE CAMERA BUVANT E5778	AIF	Z017	E5778	1986	10,000.00
D-216	10032826	CONTROLE CAMERA PAROI E5794	AIF	Z017	E5794	2009	4,000.00
D-217	10039426	SGCC TYPE M1 E2600	AIF	Z017	E2600	1999	15,000.00
D-218	10039587	THERMOSCELLAGE No 4605 E4605	AIF	Z099	E4605	1998	12,000.00
D-219	10032834 10032830	ROBOT FANUC M410 IHSRJ3 R163 (MPV) MODULE PALETTISATION XXXX X0000 (MPV)	FANUC AIF	M410 UGSRH3 Z064	R163 E4220	1996 1996	42,000.00
D-220	10039131	CADRE DE RETRACTION MSK E2516	MSK	Z079	E2516	2001	130,000.00
D-221	10084162	ETIQUETEUSE PALETTE LOGOPAK PFK E8534	LOGOPAK	PFK	E8534	2021	12,000.00
D-222	10120816	BANDEROLEUSE AUTO HALOILA OCTOPUS 1835B	HALOILA	OCTOPUS 1835B	N/A	N/A	95,000.00
D-223	10084163	ETIQUETEUSE PALETTE LOGOPAK EPFK E8535	LOGOPAK	EPFK	E8535	2021	160,000.00

ITEM NUMBER	SAP ID	DESCRIPTION	MANUFACTURER	MODEL	SERIAL NUMBER	YEAR OF MAKE	ORIGINAL EQUIPMENT COST (EUROS)
D-224	10039355	LIGNE EMB DIFFERE POUR PR6 E2376	AIF	Z099	N/A	2001	150,000.00
D-225	10112721 10039353	MODULE DEPALETTISATION XXXX X0000 (MDV) ROBOT FANUC M710 IRJ3B R165 (MDV)	AIF FANUC	Z064 M710 IRJ3B	E4237 R165	1999 1999	22,500.00
D-226	10039651	BARQUETTEUSE VCA R6 CARTERISEE E1043	AIF	Z060	E1043	2006	25,000.00
D-227	10039195	CONVOYEUR A BANDE 00 XXXX 000 X0000	AIF	Z099	E5125	2003	2,000.00
D-228	10039123	MACHINE ER6 E1155	AIF	Z027	E1155	2010	170,000.00
D-229	10039698	OUEST CONDITIONNEMENT PM E0764	AIF	Z087	E0764	2012	30,000.00
D-230	10048632	TAPIS DEMBALLAGECOURBE 90 TRAPO E2145	TRAPO FRANCE SA	COURBE 90	91072	1991	1,000.00
D-231	10039161 10112720	TAP COND COURBE 180 LARG 700 E2154 MODULE DEPALETTISATION VRAC E4236 (MDV)	AIF AIF	Z099 Z064	E2154 E4236	1998 1999	1,500.00
D-232	10039359	ROBOT FANUC M710 IRJ3B R164 (MDV)	FANUC	M710 IRJ3B	R164	1999	40,000.00
D-233	10111294	FORMEUSE CARG FERMEUSE MG TECH FCF01	MG TECH	FCF01	T16018A	2001	480,000.00
D-235	10108598	MODULE ROBOTISE DEPOSE DE COQUES E8560	OSE INDUSTRIE	22 KW	40142	2017	50,000.00
D-236	10125530	BANDEROLEUSE SEMI AUTO FROMM FS390	FROMM	FS390	N/A	2020	25,000.00
D-237	10046002	SUPERVISEUR AGV JBT-CERATEC AGV003	BA SYSTEM	JBT - CERATEC	N/A	2012	220,000.00
U-002	10084545	DISTRIBUTION GOUTTE AI 81 GOBBING	AIF	Z058	81	2021	30,000.00
U-003	10110364	CENTRIFUGEUSE XX00 Xx 00 XX0000	AIF	NC24	04	2021	1,000,000.00
U-004	10114014	TAPIS TRANSFERT DROIT LARG 400 TT400032	AIF	N/A	TT400032	2018	5,000.00
U-006	10114010	CONT DIMENS 1 No	AIF	Z016	N/A	2018	28,000.00
U-007	10114013	HOTTE TRAITEMENT IMACA KT-2 T HP2 HTIM07	IMACA	KT-2 HP2	HTIM07	2021	90,000.00
U-008	10114015	TAPIS AUTO LARG 400 TA400025	AIF	X/X	XX000000	2018	28,000.00
U-009	10113284	ROBOT FANUC R1000 IA/80H R219 (MDT)	FANUC	R1000 IA/80H	R219	2021	65,000.00
U-011	10114028	SORTIE CONDITIONNEMENT YOUNGSUN YS E3057	YOUNGSUN	Z099	E3057	2018	50,000.00
U-012	10114062	TRANSFERT ELIMI.CASSE YS WH-JCS-01 E2672	YOUNGSUN	WH-JCS-01	E2672	2018	750.00
U-013	10114063	MOD.D'ESSUYAGE FOND D'ASSIETTES YS E4419	YOUNGSUN	Z099	E4419	2018	750.00
U-016	10000397	DISTRIBUTION GOUTTE	AIF	NC24	N/A	2018	30,000.00
U-017	10000396	CENTRIFUGEUSE XX00 Xx 00 XX0000	AIF	NC24	N/A	2021	550,000.00
U-018	10114016	TAPIS TRANSFERT DROIT LARG 400 TT400020	AIF	Z096	TT400020	2020	3,000.00
U-019	10000322	CONT DIMENS 1 No 15 CD115	AIF	Z016	CD115	N/A	28,000.00
U-021	10114017	TAPIS AUTO LARG 400 TA400038	AIF	X/X	XX000000	2018	3,000.00
U-022	10084547	ROBOT FANUC M420IAR30IA R200 (MCT)	FANUC	M420 IA R30IA	R200	2018	17,500.00
U-024	10113292	ROBOT FANUC R1000 IA/80H R222 (MDT)	FANUC	R1000 IA/80H	R222	2021	60,000.00
U-025	10114027	SORTIE CONDITIONNEMENT YOUNGSUN YS E305	YOUNGSUN	Z099	E305	2018	120,000.00

ITEM NUMBER	SAP ID	DESCRIPTION	MANUFACTURER	MODEL	SERIAL NUMBER	YEAR OF MAKE	ORIGINAL EQUIPMENT COST (EUROS)
U-028	10000398	DISTRIBUTION GOUTTE AI 81 GOBBING	AIF	X/X	XX00	0000	60,000.00
U-029	10000395	CENTRIFUGEUSE XX00 XX0000	AIF	MC24	02	2018	400,000.00
U-030	10114022	TAPIS TRANSFERT DROIT XXXX 000 XX 000000	XXX	XXXX 400 TT	400019	2020	28,000.00
U-031	10000323	CONT DIMENS 1 CD 114	AIF	Z016	CD 114	2021	28,000.00
U-032	10000566	HOTTE TRAITEMENT HT8 No 16 HT816	AIF	HT8	16	2018	8,000.00
U-033	10114023	TAPIS AUTO LARG 400 TA400064	AIF	X/X	XX000000	2020	2,500.00
U-034	10000723	ROBOT FANUC M420 IAR30IA R191 (MCT)	FANUC	M420 IA R30IA	R191	2018	7,500.00
U-036	10114025	SORTIE CONDITIONNEMENT XXXXXXXX XX X0000	XXXXXXXX	X/X	X0000	2021	120,000.00
U-037	10114029	MOD CAMERA XXXXXXXX XX XX-XXX-00 X0000	XXXXXXXX	XX-XXX-00	X0000	2018	3,000.00
U-038	10114030	MOD DESSUYAGE FOND D ASSIETTES YS E4413	YOUNGSUN	Z099	E4413	2018	3,000.00
U-041	10133354	TGBT T1 FOUR U	AIF	Z024	N/A	2018	40,000.00
U-042	10133355	TGBT T2N FOUR U	AIF	Z024	N/A	2018	40,000.00
U-043	10133356	TGBT SECOURU T2S1 - FOUR U	AIF	Z024	N/A	2018	25,000.00
U-044	10133357	TGBT SECOURU T2S2 - FOUR U	AIF	Z024	N/A	2018	25,000.00
D-300	10120598	TOUR ADIABATIQUE L1	JACIR	TMV 11E09D3.12830 B2 SPE	200071E00.1	2020	200,000.00
D-301	10120600	TOUR ADIABATIQUE L2	JACIR	TMV 11E09D3.12830 B2 SPE	200071E00.2	2020	200,000.00
D-302	10122828	TOUR ADIABATIQUE L3	JACIR	TMV 11E09D3.12830 B2 SPE	200071E00.3	2020	200,000.00
D-303	10122830	TOUR ADIABATIQUE L4	JACIR	TMV 11E09D3.12830 B2 SPE	200071E00.4	2020	200,000.00
D-304	10116656	TOUR ADIABATIQUE X00	XXXXX	X0XX.X.0.0.XXX	000000.X00	2019	40,000.00
D-305	10120623	TOUR ADIABATIQUE X00	XXXXX	XXXXX X0XX X0 0 XXX	000000 E00	2018	40,000.00
D-306	10123322	TOUR ADIABATIQUE PR1	JACIR	TOPAZ TV7 E12 S4 B2.SPE	193072.E00.1	2020	20,000.00
D-307	10123323	TOUR ADIABATIQUE PR2	JACIR	TOPAZ TV7 E12 S4 B2.SPE	193072.E00.2	2020	20,000.00
D-309	10110483	GROUPE ELECTROGENE G07A	X/X	X/X	X00X	0000	350,000.00
D-310	10090335	GROUPE ELECTROGENE POYAU N°10	POYAU	N/A	10	2016	60,000.00

ITEM NUMBER	SAP ID	DESCRIPTION	MANUFACTURER	MODEL	SERIAL NUMBER	YEAR OF MAKE	ORIGINAL EQUIPMENT COST (EUROS)
D-311	10000493	GROUPE ELECTROGENE SDMO N° G14	SDMO	N/A	G14	2018	60,000.00
D-312	10000494	GROUPE ELECTROGENE SDMO N° G15	SDMO	N/A	G15	2018	60,000.00
D-313	10133350	GROUPE ELECTROGENE TGBT	N/A	N/A	N/A	2018	700,000.00
D-314	10110484	GROUPE ELECTROGENE CUMMINS G18	CUMMINS	X/X	X00	0000	60,000.00
D-315	10099026	GROUPE ELECTROGENE XXXXX Xx0	XXXXX	X/X	0	0000	40,000.00
D-316	10099027	GROUPE ELECTROGENE VLACKE MOBILE G17	VLACKE	N/A	G17	2017	45,000.00
D-317	10110485	GROUPE ELECTROGENE CUMMINS G20	CUMMINS	X/X	X00	0000	90,000.00
D-318	10059092	GROUPE ELECTROGENE SDMO N° G01	SDMO	N/A	G01	2016	350,000.00
D-319	10059148	GROUPE ELECTROGENE XXXXX Xx0	XXXXX	X/X	0	0000	350,000.00
D-320	10059707	GROUPE ELECTROGENE G04	X/X	X/X	X00	0000	45,000.00
D-321	10039091	GROUPE ELECTROGENE XXXXX Xx0	XXXXX	X/X	0	0000	90,000.00
D-323	10129788	COMPRESSEUR ATLAS ZR250	ATLAS COPCO	ZR250	N/A	2021	60,000.00
D-324	10129789	COMPRESSEUR ATLAS ZR300 N°804	ATLAS COPCO	ZR300	804	2021	55,000.00
D-325	10129784	SECHEUR DONALDSON HRS 2750 57B109	DONALDSON	2750 57B109	N/A	2021	30,000.00
D-326	10129785	SECHEUR DONALDSON HRS 2750 57B109	DONALDSON	2750 57B109	N/A	2021	30,000.00
N/A	N/A	TRANSFORMER	SCHNEIDER ELECTRIC	MINERA MP 32 MVA	283214/01	2021	1,000,000.00
D-400	10117704	SURFACEUSE REFRACTAIRE Xx 0	XXXXXX	000	XX 00000	1980	125,000.00
D-401	10117707	SURFACEUSE REFRACTAIRE Xx 0	XXXXXX	000	XX 00000	1984	40,000.00
D-402	10120279	ETIQUETEUSE PALETTE LOGOPAK EPFK	LOGOPAK	920 III EPF	LP10022584	2018	30,000.00
D-403	10130352	ETIQUETEUSE PALETTE LOGOPAK EPFK	LOGOPAK	920 III EPF	LP10022578	2017	10,000.00
D-404	10120274	ETIQUETEUSE PALETTE LOGOPAK EPFK	LOGOPAK	920 III EPF	LP10022585	2019	10,000.00
D-405	10120275	ETIQUETEUSE PALETTE LOGOPAK PFK	LOGOPAK	920 III EPF	LP10022583	2019	30,000.00
D-406	10120276	ETIQUETEUSE PALETTE LOGOPAK EPFK	LOGOPAK	920 III EPF	LP10022581	2016	15,000.00
D-407	10120278	ETIQUETEUSE PALETTE LOGOPAK EPFK	LOGOPAK	920 III EPF	LP10022582	2019	30,000.00
D-408	10119664	ETIQUETEUSE LOGOPAK EPFK SUR ATLANTA	LOGOPAK	920 III EPF	N/A	2019	30,000.00
D-409	10115656	ETIQUETEUSE LOGOPAK SUR MSK	LOGOPAK	920 III EPF	LP10022580	2019	15,000.00
D-410	10120277	ETIQUETEUSE PALETTE LOGOPAK EPFK	LOGOPAK	920 III EPF	N/A	2020	65,000.00
D-411	10120605	BANDEROLEUSE AUTO HALOILA OCTOPUS 1825	HALOILA	OCTOPUS 1825B	490321-001	2020	95,000.00
D-413	10120319	MODULE PALET COLIS INSER ROBOTICA (MPC)	INSER ROBOTICA	FANUC M410iC/185	PS2097/E127827	2019	90,000.00
D-414	10125527	MODULE PALET COLIS INSER ROBOTICA (MPC)	INSER ROBOTICA	M410iC/185	PS-2124-AD07	2021	90,000.00
D-417	10128247	CONTROLE CAMERA OPALE MINITEC	AIF	Z017	N/A	2019	40,000.00

ITEM NUMBER	SAP ID	DESCRIPTION	MANUFACTURER	MODEL	SERIAL NUMBER	YEAR OF MAKE	ORIGINAL EQUIPMENT COST (EUROS)
D-418	10007430	CONT CAM OPALE MINITEC E5426	AIF	Z017	E5426	2019	40,000.00
D-419	10084432	CONT CAM OPALE MINITEC E5424	AIF	Z017	E5424	N/A	40,000.00
D-420	10084425	AEC-MINITEC(CONTROLE QUALITE)-LIGNE COND	AIF	N/A	N/A	2019	45,000.00
D-421	10000342	CONT CAM OPALE MINITEC E5425	AIF	Z017	E5425	2019	20,000.00
D-422	10000345	CONT CAM OPALE MINITEC E5427	AIF	Z017	E5427	2018	45,000.00
D-423	10107128	CONT CAM OPALE MINITEC E5437	AIF	Z017	E5437	2018	50,000.00
D-426	10119663	BANDEROLEUSE AUTOMATIQUE ATLANTA	ATLANTA	Z145	N/A	2021	120,000.00
1	10125084	GROUPE DE REGULATION CIAT CARRIER RLM 137	CIAT	LP 280V-STD	WO 19063063	2019	45,000.00
7	10126690	POSTE A SOUDER	MINI PLASMA	N/A	N/A	2020	10,000.00
9	10084427	SORTIE CONDITIONNEMENT N E2981	AIF	N E2981	N/A	2020	100,000.00
23	10120609	CONTROLE CAMERA PAROI ET BUVANT GUNTHER	XX XXXXXXX INSPECTIONS	CSIxBTS	20031	2020	175,000.00
25 26 27 28 29	10120393 10120389 10120390 10120391 10120392	MODULE EMPILAGE LIGNE PLATRERIE (MEP) ROBOT FANUC SR6IA ROBOT FANUC SR6IA No R239 (MEP) ROBOT FANUC SR6IA No R240 (MEP) ROBOT FANUC SR6IA No R241 (MEP)	FANUC FANUC FANUC FANUC FANUC	SR-6iA SR-6iA SR-6iA SR-6iA SR-6iA	N/A N/A R239 R240 R241	2020 2020 2020 2020 2020	200,000.00
30	10125002	CONTROLE CAMERA PAROI ET BUVANT GUNTHER	XX XXXXXXX INSPECTIONS	SR-6iA	20042	2020	150,000.00
32	10084295	SORTIE CONDITIONNEMENT E8537	AIF	E8537	N/A	2020	75,000.00
33	10000812	SORTIE CONDITIONNEMENT N E3014 (TREMPE)	SAVIME	N E3014	19215 12802	2020	35,000.00
35 36 38	10117829 10122824 10122826	PALETTISEUR ROBOTISE (COBOT) R230 ROBOT FANUC M410 IC 315 R247 (MDA) ROBOT FANUC M410 IC 315 R248 (MDA)	SIDEL FANUC FANUC	CONV COBOACCESS_PAL M410 iC M410 iC	DC22B R247 R248	2019 2020 2020	75,000.00
40	10123668	FERMEUSE DE CAISSES L35CS DNC RAB RECOUV	DNC	L35CS	24438	2020	30,000.00
41	10000117	MSK FOUR S (AVEC HOUSSEUSE) E2515	MSK	MSK - 381	285301 381/1	2019	100,000.00
51	10123487	TUNNEL KALLFASS COMPACT 650 SD	KALLFASS	COMPACT 650 SD	N/A	2020	39,000.00
52	10123486	RETRAPACK KALLFASS UNIVERSA 800	KALLFASS	UNIVERSA 800	N/A	2020	60,000.00
53	10040119	TAP RENAU 2 METRES LARG 400	RENAU	2000x400	7163	2020	7,000.00
54 55	10138036 10138035	CONVOYEUR TAPIS 7000x400 RENAU CONVOYEUR TAPIS 7000x400 RENAU	AIF AIF	7000X400 7000X400	N/A N/A	2020 2020	7,000.00
56	10132871	TABLE ELEVATRICE PNEUMATIQUE EZ LOADER	AIF	PNEUMATIQUE	N/A	2020	2,000.00