Air France-KLM announces an increase of the Maximum Acceptance Amount

                                        

Paris, May 16, 2024        

Air France-KLM announces an increase of the Maximum Acceptance Amount of its current Tender Offer following the success of the concurrent issue of new bonds

On 13 May 2024, Air France-KLM (the “Company”) (Euronext Paris: FR0000031122) rated BBB- by Fitch and BB+ by S&P, invited Qualifying Holders (as defined in the Tender Offer Memorandum) to tender for cash some or all of its (i) €750,000,000 1.875 per cent notes due 16 January 2025 (ISIN: FR0013477254) (of which €750,000,000 is currently outstanding) (the “2025 Notes”); and/or (ii) €500,000,000 3.875 per cent notes due 1^st July 2026 (ISIN: FR0014004AF5) (of which €500,000,000 is currently outstanding) (the “2026 Notes” and, together with the 2025 Notes, the “Existing Notes”) (the “Tender Offer”), up to a maximum acceptance amount of €350,000,000 in aggregate principal amount (the “Maximum Acceptance Amount”), subject to the right of the Company to increase or decrease such amount, subject to the pricing of a new bond issuance and the conditions set out in the Tender Offer Memorandum.

On 14 May 2024, Air France-KLM has successfully placed new bonds, for a total nominal amount of €650 million with a 5-year maturity and a coupon of 4.625% under its Euro 4,500,000,000 Euro Medium Term Note Programme (the “New Notes”) benefiting from a strong investor demand, with an orderbook above €2.8 billion that covered c.4.3x the size of the New Notes.

As a result of the successful issuance of the New Notes, Air France-KLM hereby announces an increase of the Maximum Acceptance Amount relating to its current Tender Offer from €350,000,000 to €450,000,000, subject to the right of the Company in its sole and absolute discretion to increase or decrease such amount.

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