Press ReleaseLesquin, 4 March 2026, 18:00 Bigben Interactive announces the opening of conciliation proceedings Lesquin, 4 March 2026, Bigben Interactive (the “Company”) announces the opening of conciliation proceedings (“procédure amiable de conciliation”) before the President of the Lille Métropole Commercial Court (the “Court”). Further to its press release dated 25 February 2026, the Company had announced that it would file a request for the opening of a conciliation proceedings (“procédure amiable d ...

Company Overview - Bigben Interactive is a European player in video game publishing, as well as the design and distribution of mobile and gaming accessories, and audio-video products [3] - The company aims to become one of the European leaders in each of its markets, recognized for its innovation capabilities and creativity [3] Financial Instruments - Bigben Interactive has requested Euronext Paris to resume trading in its financial instruments, including shares (ISIN code: FR0000074072) and bonds (ISIN code: FR0014001WC2), starting from 4 March 2026 at the opening of trading [2] - The company is listed on Euronext Paris, Compartment B, and is eligible for SRD long [4] Workforce and Global Presence - The company employs more than 1,300 individuals [4] - Bigben has 36 subsidiaries and a distribution network in over 100 countries [5]

Core Viewpoint - Bigben Interactive is initiating an amicable conciliation procedure to facilitate discussions with its financial creditors due to challenges in refinancing its existing exchangeable bonds [1][2]. Group 1: Financial Situation - The company faced an unexpected refusal from its banking pool regarding a drawdown notice related to the partial refinancing of its exchangeable bonds, preventing the scheduled repayment on 19 February 2026 [1]. - The request for conciliation specifically addresses the financial debt of Bigben Interactive, primarily focusing on bond debt, and does not involve operational creditors such as suppliers [3]. - The company aims to secure new financial resources and restructure its financial debt under a legally secure framework with the guidance of a conciliator [2]. Group 2: Impact on Operations - The conciliation procedure will not affect the company's operations, employees, or customers, allowing it to continue its activities [3]. - The suspension of trading in the company's financial instruments, including shares and bonds, remains in effect as of 20 February 2026 [5][7]. Group 3: Stake in Nacon - Bigben Interactive holds a majority stake in Nacon, with 56.72% of the share capital and 65.79% of the voting rights [5]. - Nacon has filed for insolvency and requested judicial reorganization proceedings, leading to the suspension of trading in its shares, which also affects the trading of Bigben's financial instruments [5]. Group 4: Company Overview - Bigben Interactive is a European player in video game publishing and the design and distribution of mobile and gaming accessories, with a revenue forecast of €288 million for 2024-25 [6]. - The company employs over 1,300 individuals and operates 36 subsidiaries with a distribution network in over 100 countries [8].

Core Viewpoint - Bigben Interactive is facing challenges in executing the planned partial repayment of its bond loan due to a late refusal from its banking pool to respond to a drawdown notice, which has led the company to consider requesting a deferral from bondholders and exploring debt restructuring options under commercial court supervision [1][2][8]. Financial Information - The company issued a bond loan of €87.3 million on 12 February 2021, with an outstanding amount of €59.1 million remaining as of now [3]. - A refinancing agreement for the outstanding bonds was announced on 24 November 2025, totaling €43 million, leaving a non-refinanced residual balance of approximately €16.1 million [4]. - A general meeting of bondholders on 2 February 2026 approved amendments allowing for a partial repayment of €75,000 per bond, reducing the nominal amount from €100,000 to €28,000, with the maturity date for the non-refinanced balance postponed to 19 August 2032 [6]. Company Operations - Bigben is a European player in video game publishing and the design and distribution of mobile and gaming accessories, as well as audio-video products, aiming to become a leader in its markets [10]. - The company has over 1,300 employees and operates 36 subsidiaries with a distribution network in over 100 countries [11][12].

Core Viewpoint - Bigben Interactive has received overwhelming approval from bondholders for amendments to the terms of the Nacon 2026 exchangeable bonds, enhancing its financial flexibility and supporting future growth plans [1][2]. Group 1: Bondholder Meeting Outcomes - The bondholder meeting resulted in a 97.47% approval rate for the proposed amendments, with 434 out of 574 bonds represented, achieving a quorum of 75.61% [2]. - The amendments will take effect on February 19, 2026, and will uniformly apply to all outstanding bonds [3]. Group 2: Key Amendments to Bond Terms - The redemption amount per bond is set at €75,000, reducing the principal from €100,000 to €28,000, resulting in an aggregate outstanding principal of €16,072,000 [4]. - The maturity date has been extended to August 19, 2032, which is 6.5 years from the effective date [4]. - A step-up coupon structure has been established, with rates of 1.125% from February 19, 2021, to February 19, 2028, increasing to 3.125% from February 19, 2028, to February 19, 2030, and finally to 5.125% until maturity [4]. - The unit exchange price has been reduced to €0.85 until August 19, 2029, and then to €0.80, down from an initial price of €9.60 [4]. - The number of pledged shares has increased from 12,101,662 to 20,090,000, representing 100% of shares deliverable upon exercise of the exchange right [4]. Group 3: Company Overview - Bigben Interactive is a European player in video game publishing and the design and distribution of mobile and gaming accessories, as well as audio-video products, with a revenue forecast of €288 million for 2024-25 [5]. - The company employs over 1,300 individuals and operates 36 subsidiaries with a distribution network in over 100 countries [5].

Core Insights - Mulberry has partnered with Big Lots! to launch The BIG! Protection Plan, enhancing product protection for customers [1][2] - The plan offers extended coverage for various products, including furniture, mattresses, appliances, and electronics, protecting against accidents and wear [1][2] - This initiative is part of Big Lots!'s strategy to improve customer experience and provide added value beyond standard warranties [2][3] Company Overview - Big Lots! is undergoing a brand transformation, focusing on expanded product lines and a commitment to quality and value [2] - Variety Wholesalers, Inc. operates Big Lots! and is known for offering a wide range of discount merchandise across over 600 stores in 18 states [5] Product Protection Details - The BIG! Protection Plan includes coverage for accidental damage to indoor and outdoor furniture, mattresses, rugs, kitchen appliances, and electronics [7] - Coverage durations vary: up to 5 years for furniture, 10 years for mattresses, and 3 years for electronics and appliances [7] - The plan features no deductibles or hidden fees, with unlimited claims potential up to the original retail value [7]

Core Viewpoint - Bigben Interactive reported consolidated sales of €219.8 million for the first nine months of the fiscal year 2025-26, reflecting a decrease of 1.7% compared to the same period last year [2][3]. Sales Performance - Sales for the first quarter (April – June) were €56.5 million, down 2.4% from €57.9 million in the previous year [3]. - The second quarter (July – September) saw sales of €79.0 million, an increase of 1.3% from €78.0 million [3]. - The third quarter (October – December) recorded sales of €84.4 million, a decline of 3.8% from €87.7 million [3]. - Cumulative sales for the first nine months were €219.8 million, down from €223.6 million in the previous year [3]. Segment Analysis Nacon Gaming - Nacon Gaming's sales for the third quarter were €46.1 million, down 12.8% from €52.9 million [3]. - Total "Games" revenue grew by 1.9% to €25.9 million, with "Catalogue" activity (new games) increasing by 39.9% to €13.7 million [5]. - The "Back Catalogue" generated €12.2 million, down from €15.6 million, attributed to a high basis of comparison and market decline [6]. Accessories - The "Accessories" segment generated €17.9 million, down 29.1% due to the impact of increased customs duties in the US market [7]. - The decline in the US market eased from 66% in the second quarter to 38% in the third quarter [7]. Bigben Audio-Video/Telco - Bigben Audio-Video/Telco reported a revenue increase of 9.9% to €38.2 million for the quarter [9]. - The "Mobile Accessories" segment achieved €28.3 million, up 11.9%, driven by strong performance in December [10]. - The "Audio" segment generated €9.8 million, with a growth of 11.1% attributed to the new K7 portable player [11]. Future Outlook - Nacon anticipates continued growth in the last quarter, driven by major game releases [12]. - The "Accessories" segment remains uncertain in the US, but Europe is expected to benefit from new product launches [13]. - Bigben Audio-Video/Telco forecasts growth for the fiscal year, despite a slowdown in the video game market leading to revised forecasts [15].

Core Viewpoint - Bigben Interactive is convening a meeting for bondholders to vote on amendments to the terms and conditions of its exchangeable bonds due in 2026, following a new bank financing of 43 million euros aimed at a partial redemption of these bonds [2][3][5]. Group 1: Financial Restructuring - The company announced a refinancing agreement of 43 million euros to facilitate a partial redemption of its exchangeable bonds [2][3]. - The outstanding amount of the bonds is currently 57.4 million euros, redeemable at maturity at 103% of their principal value, totaling 59.1 million euros [6]. - The proposed amendments include a partial redemption of 75,000 euros per bond, reducing the principal amount per bond from 100,000 euros to 28,000 euros [13]. Group 2: Proposed Amendments - The amendments will extend the maturity date of the non-redeemed portion of the bonds to August 19, 2032, which is a 6.5-year extension [9][15]. - The initial unit exchange price will be reduced to 0.85 euros until August 19, 2029, and then to 0.80 euros until maturity, compared to the initial price of 9.60 euros [9][15]. - The coupon rate will gradually increase from 1.125% to 5.125% over the life of the bonds [9][15]. Group 3: Bondholder Meeting - A general meeting of bondholders is scheduled for February 2, 2026, to vote on the proposed amendments, with 51% of bondholders already committed to voting in favor [2][7][20]. - If a quorum is not reached, a second meeting will be convened on February 13, 2026 [20]. - The agenda for the meeting includes the approval of the amendments and the filing of related documents [22].

Core Viewpoint - Bigben Interactive has announced the availability of its 2025/26 half-year financial report, which has been restated due to an ongoing legal dispute that necessitated a provision of 2.5 million euros [2][3]. Financial Report Summary - The half-year financial report for 2025/26 was delayed due to the need for restatement following an auditor's position regarding a legal dispute [2]. - A provision of 2.5 million euros was recorded in the restated accounts related to the legal dispute [2]. Legal Dispute Details - The legal dispute, ongoing for over 15 years, involves patents held by Nintendo concerning controllers that are no longer marketed by Bigben [3]. - A recent unfavorable ruling from German courts against Bigben Interactive Gmbh has prompted the company to appeal the decision [3][4]. Company Overview - Bigben Interactive is a European player in video game publishing and the design and distribution of mobile and gaming accessories, as well as audio-video products [5]. - The company aims to be a leader in its markets and has over 1,300 employees with a distribution network in over 100 countries [5].

Core Viewpoint - Bigben Interactive is initiating discussions with holders of senior conditionally secured bonds exchangeable into Nacon company shares, maturing on February 19, 2026, to renegotiate the terms of the bonds to maintain operational and financial flexibility [1][6]. Group 1: Bond Details - The company established a bond loan amounting to €87.3 million on February 12, 2021, with a maturity date of February 19, 2026 [2]. - As of the press release date, the outstanding amount of the bonds totals €57.4 million, which is repayable at maturity at 103%, equating to €59.1 million [3]. - After a partial refinancing agreement of €43 million secured on November 24, 2025, the residual unrefinanced balance of the bonds is approximately €16 million [4][5]. Group 2: Strategic Intentions - The company aims to propose a renegotiation of the bond terms to avoid premature cash mobilization that could limit development prospects [6]. - Following discussions, all bondholders may be convened to vote on any amendments to the bond terms in accordance with legal and regulatory provisions [7]. Group 3: Company Overview - Bigben Interactive is a European player in video game publishing and the design and distribution of mobile and gaming accessories, as well as audio-video products, with a goal to be a leader in its markets [8]. - The company is listed on Euronext Paris and has over 1,300 employees [8].