First Camp considers issuance of senior secured bonds, announces conditional tender offer and the intention to redeem early its outstanding 2022/2026 bonds and provides a financial update

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) (THE "SECURITIES ACT") OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT. THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN JURISDICTIONS (IN PARTICULAR, THE UNITED STATES AND THE UNITED KINGDOM) MAY BE RESTRICTED BY LAW

First Camp Group AB (the “Company” or “First Camp”) has mandated ABG Sundal Collier AB (“ABG”), Nordea Bank Abp (“Nordea”) and Pareto Securities AS (“Pareto”) as joint bookrunners to arrange investor meetings to investigate the possibility to issue new SEK denominated senior secured bonds with a tentative tenor of 4.5 years and an expected issue size of SEK 2.25 billion (the "New Bonds"), subject to market conditions.

In connection with the issue of the New Bonds, First Camp is offering holders of its outstanding senior secured sustainability-linked floating rate bonds maturing on 14 June 2026 (ISIN: SE0019173725) with an outstanding amount of SEK 1,850,000,000 (the “Bonds”) to tender any and all of their Bonds at a price of 103.63 per cent of the nominal amount (the “Tender Offer”) plus accrued but unpaid interest. The Bonds will be repurchased subject to the terms and conditions described in a tender information document dated 7 October 2024 (“Tender Information Document”), which is accessed on the following link: https://corporate.firstcamp.se/en/for-investors/bonds/.

First Camp will, in connection with the allocation of the New Bonds, consider, among other factors, whether or not the relevant investor seeking an allocation of the New Bonds has, prior to such allocation, validly tendered Bonds pursuant to the Tender Offer, subject to the terms set out in the Tender Information Document. The Tender Offer expires upon books close of the book building process for the New Bonds (the "Expiration Date") unless extended, re-opened, withdrawn or terminated at the sole discretion of the Issuer. The Issuer will announce the Expiration Date as soon as practicable after the book building process for the New Bonds has closed. Settlement of the Tender Offer is expected to occur approximately ten business days after the Expiration Date and to the extent possible on the same day as the settlement of the New Bonds. The Company’s repurchase of the Existing Bonds is conditional upon the issue of the New Bonds. The Company has mandated ABG, Nordea and Pareto to act as managers in connection with the Tender Offer.

First Camp further announces that the Company on 8 October 2024 will instruct Nordic Trustee & Agency AB (publ) as agent under the Existing Bonds, to send an irrevocable, conditional notice of redemption in relation to the Existing Bonds (the “Notice”). The redemption is conditional upon the Company’s receipt of proceeds from the issuance of the New Bonds, and subject to the fulfilment of that condition, the Company will redeem any Bonds not purchased by First Camp in the Tender Offer at an amount of 103.63 per cent of the nominal amount (i.e. SEK 1,295,375 per Existing Bond). The early redemption date falls on 8 November 2024 and the record date will be 1 November 2024. The Notice will be published on the websites of First Camp and Nordic Trustee & Agency AB (publ). In connection with the redemption of the Existing Bonds pursuant to the Notice, the Existing Bonds will be delisted from Nasdaq Stockholm.

First Camp hereby provides selected key consolidated financial information for the group as of 31 August 2024 and for the last twelve months period ending on 31 August 2024 ("LTM"), which has been compiled by the Company as part of the preparations for the intended issue of the New Bonds (see below). The financial information is unaudited and unreviewed by the Company's auditor.

• Pro forma net turnover LTM of SEK 1,292 million, including the newly announced acquisition of the leashold agreement for the Gustavsvik campsite.
• Pro forma adjusted LTM EBITDA of SEK 313 million, including the newly announced acquisition of the leashold agreement for the Gustavsvik campsite.
• The group's cash and cash equivalents amounted to SEK 36 million and the Issuers credit facility with Nordea was utilised to an amount of SEK 40 million.

First Camp has appointed ABG, Nordea and Pareto as joint bookrunners and managers connection with the issue of the New Bonds and the Tender Offer. Roschier Advokatbyrå AB acts as legal counsel for joint bookrunners and Advokatfirman Cederquist KB acts as legal counsel for the Company.

Managers

First Camp

For further information, please contact:

This information is information that First Camp Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact persons above on 7 October 2024 at 08:00 CET.