North Atlantic France SAS reaches a key milestone in its project to acquire a majority stake in Esso Société Anonyme Française SA and 100% of ExxonMobil Chemical France SAS, with the signing of a share purchase agreement

Core Points - North Atlantic France SAS has signed a share purchase agreement to acquire a majority stake in Esso Société Anonyme Française SA and 100% of ExxonMobil Chemical France SAS, marking a significant milestone in its expansion strategy in France [1][2] - The acquisition aims to enhance European energy security and support the energy transition, with a commitment to maintaining employment and existing benefits [2][7] - The final acquisition price will be determined before the transaction's completion, which is expected in Q4 2025 [7] Company Strategy - North Atlantic aims to establish a long-term presence in France, focusing on strengthening energy security and resilience while promoting lower-carbon solutions [2][3] - The company plans to consolidate the Gravenchon site and implement an ambitious development plan to serve the French energy and industrial sectors [3] - Following the acquisition, North Atlantic will file a mandatory tender offer for the remaining shares of Esso S.A.F. on the same financial terms as the controlling block acquisition [3] Financial Adjustments - The purchase price for the controlling block has been adjusted downward to account for certain social liabilities, but this will not affect the price offered to minority shareholders [5] - Adjustments to the acquisition price include cash distributions prior to completion, a ticking fee mechanism based on accrued interest, and changes in the euro value of Esso S.A.F.'s inventory [5][6] Shareholder Information - A Shareholders Meeting for Esso S.A.F. is scheduled for November 4, 2025, to discuss a proposed distribution of reserves amounting to €60.21 per share, with payment set for November 14, 2025 [4]