Albioma : Letter to shareholders (pdf)

Message from Frédéric Moyne,

Chairman & CEO

Dear shareholders,

I am writing to inform you that KKR's public tender oer for the shares of your Company opens today. On April 28, Albioma announced that it had received a friendly takeover oer from KKR. Following a thorough review, your Board of

Directors has unanimously judged the Oer to be in the best interests of the Group and all its stakeholders and has recommended that shareholders tender their shares. The Oer opens today after being declared compliant by the AMF on June 21, 2022.

The energy transition requires sustained long-term investments. This transaction, carried out through the infrastructure arm of KKR, seeks to support Albioma's energy transition strategy in French overseas territories, as well as its international expansion. The investment firm has committed to providing Albioma with its operational expertise and to maintaining the very significant investments planned by the Group to achieve its transition.

In this context, the Board of Directors appointed an ad hoc committee and an independent expert to evaluate the terms of the Oer, in the interest of all shareholders and stakeholders of the Group. Following a period of evaluation, the committee and independent expert concluded that the terms of the Oer were financially equitable at the price of €50.00 per share (ex-dividend), representing a premium of 51.6% over Albioma's undisturbed closing share price on 7 March 2022 before market rumors.

Taking full account of the independent expert's final report, the committee considers that the Oer is in the interest of the Company, its employees and shareholders, who stand to benefit from immediate liquidity at a premium to the share price performance.

The Board therefore issued a favorable opinion on the proposed Oer and unanimously recommended that Albioma shareholders tender their shares to the Oer, which opens today.

I invite you to consult the Oer documents1 and to contact your broker forthwith in order to decide whether you wish to tender your shares to the Oer.

For your further information, Albioma has set up a page on its website dedicated to the Oerto answer any further questions you may have.

Thank you for your continued trust and confidence.

Yours sincerely,

Frédéric Moyne, Chairman & CEO

Oer price:

€50

(ex-dividend of 0.84 euro)

Premium of 51.6%*

*Compared with Albioma's undisturbed closing price on 7 March 2022, before market rumors (33,54 €)

Supporting Albioma's investments in French overseas territories

1. The Oer was deemed compliant on 21 June 2022 by the Autorité des marchés financiers ("AMF"), which approved the Oer document under the reference 22-230 and Albioma's reply document under the reference 22-231. On the same date, the initiator and Albioma filed the "other information" documents with the AMF detailing the legal, financial, accounting and other characteristics of the initiator and Albioma.

On 22 June 2022, KKR and Albioma made publicly available the approved Oer document, the reply document and the "other information" documents, and the AMF published a notice of opening of the Oer. The documentation relating to the public Oer is available on the websites of Albioma (www.albioma.com) and the AMF (www.amf-france.org).