Terms of the implementation of Air France - KLM reverse share split

Terms of the implementation of Air France - KLM reverse share split Air France - KLM (the " Company" ) hereby gives details of the terms of the reverse share split which starts today by means of an exchange of 10 existing shares for 1 new share, as decided by the Board of Directors at its meeting on 4 July 2023 in accordance with the thirty-sixth extraordinary resolution of the Combined General Meeting of 7 June 2023.This reverse share split is a purely technical exchange transaction...

Paris, 31/07/2023 (informazione.it - comunicati stampa - turismo)

Terms of the implementation of Air France - KLM reverse share split

Air France - KLM (the " Company" ) hereby gives details of the terms of the reverse share split which starts today by means of an exchange of 10 existing shares for 1 new share, as decided by the Board of Directors at its meeting on 4 July 2023 in accordance with the thirty-sixth extraordinary resolution of the Combined General Meeting of 7 June 2023.

This reverse share split is a purely technical exchange transaction with no direct impact on the total value of the Company's shares held by each shareholder.

Terms of the implementation of the reverse share split:

The terms of the reverse split were approved by the Board of Directors at its meeting of 4 July 2023,and are set out below and in the notice of reverse split published in the Bulletin des Annonces Légales Obligatoires (BALO) on 12 July 2023.

Pursuant to Articles L. 228-6-1 and R. 228-12 of the French Commercial Code, at the latest at the end of a period of 30 days from 31 August 2023, the new shares that cannot be allocated individually and correspond to fractional rights will be sold on the stock market by the account holders and the proceeds of the sale will be allocated in proportion to the fractional rights of the holders of these rights.

The shares subject to the reverse share split will be admitted to trading on the regulated market of Euronext Paris under ISIN code FR0000031122, until 30 August 2023, the last day of trading.

The shares resulting from the reverse split will be admitted to trading on the regulated market of Euronext Paris from 31 August 2023, the first day of trading, and will be assigned ISIN code FR001400J770.

Adjustment of the exchange, and/or conversion ratio of bonds convertible into and/or exchangeable for new and/or existing shares

Following the reverse share split, in order to preserve the rights of the holders of (i) the deeply subordinated perpetual bonds convertible into new shares and/or exchangeable for existing shares issued for a nominal amount of 305.3 million through a placement with qualified investors on 16 November 2022 (the " Hybrid CBs ") and of (ii) the bonds convertible into and/or exchangeable for new or existing shares issued in an amount of 500 million euros in March 2019 and maturing in 2026 (the " OCEANE 2026" ), the ratios for conversion or exercise of the Hybrid CBs and the OCEANEs 2026 will be adjusted in proportion to the nominal value of the shares, i.e. divided by 10.

Timetable :

Investor Relations                                                         

Michiel Klinkers                                   Marouane Mami                                                             

michiel.klinkers@airfranceklm.com        mamami@airfranceklm.com

Website: www.airfranceklm.com

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