FL Entertainment N.V. entered into a definitive business combination agreement to acquire Pegasus Entrepreneurial Acquisition Company Europe B.V. (ENXTAM:PEACE) from Tikehau Capital (ENXTPA:TKO), Financière Agache Société Anonyme, Pierre Cuilleret, Jean-Pierre Mustier and Diego De Giorgi and others in a reverse merger transaction on May 10, 2022. Upon closing of the transaction, the combined company will be named FL Entertainment and will be led by Stéphane Courbit as Chairman and François Riahi as Chief Executive Officer. It is intended that Pegasus Entrepreneurs, as the disappearing company, will merge with and into FL Entertainment, as acquiring company, and whereby FL Entertainment will allot shares in its capital to the shareholders of Pegasus Entrepreneurs at the time of such merger.

FL Entertainment will acquire the contractual arrangement of the Pegasus Entrepreneurs public warrants and Pegasus Entrepreneurs founder warrants and assumes the obligations thereunder under universal title upon completion of the merger, and subsequently the Pegasus Entrepreneurs public warrant holders will become holders of FL Entertainment warrants that entitle the holder to acquire ordinary shares in FL Entertainment. The proposed business combination, which has been unanimously approved by the FL Entertainment N.V. board and the board of Pegasus Entrepreneurs and is subject to approval by Pegasus Entrepreneurs' shareholders and other regulatory and customary closing conditions. On June 23, 2022, an extraordinary shareholders' meeting of Pegasus Entrepreneurs (the EGM) shall be held in which the shareholders may vote on the proposed Business Combination.

As of June 24, 2022, the transaction has been approved at the extraordinary meeting of shareholders of Pegasus Entrepreneurs held yesterday. The transaction is expected to close on 30 June 2022. d'Angelin & Co.

and Rothschild & Co SCA (ENXTPA:ROTH) acted as financial advisors, Darrois Villey Maillot Brochier and Stibbe N.V. acted as legal advisors and Villey Girard Grolleaud Accounting & Auditing Arm acted as accountant to FL Entertainment N.V. BNP Paribas SA acted as financial advisor and White & Case LLP and NautaDutilh N.V. acted as legal advisors to Pegasus Entrepreneurial Acquisition Company Europe B.V. SG Corporate & Investment Banking acted as finacial advisor to Financière Agache Société Anonyme. Gaby Smeenk, Casper Nagtegaal and Klaas de Vries of De Brauw Blackstone Westbroek N.V. acted as legal advisor to Financière Agache Société Anonyme.