North Atlantic France today announces its decision to increase the price of the mandatory tender offer under the simplified procedure that it will file for the shares of North Atlantic Energies it does not already own (the "Offer") to €75 per share.
North Atlantic France recalls that, on November 28, 2025, it announced the successful closing of its acquisition of 82.89% of the share capital and voting rights of Esso S.A.F., renamed North Atlantic Energies, at a price of €26.19 per share, and that it would file the Offer at a price initially set at €28.93 per share. North Atlantic France specified on June 8, 2026 that it would not request the implementation of a squeeze-out procedure as part of the Offer, which it hereby reaffirms.
The increase in the price of the Offer follows in-depth discussions with Ledouble SAS, the independent expert.
The Offer will be filed with the Autorité des marchés financiers (the "AMF") during November 2026. The Offer documentation, including the independent expert's fairness opinion on the financial terms of the Offer, will be submitted to the AMF for review, and the Offer will open once the AMF has issued its compliance decision.
