Shandong Ruyi Technology Group Co., Ltd : European TopSoho S.à r.l. EUR250 million 4% secured guaranteed bonds due 2021 exchangeable into shares of SMCP S.A. (ISIN XS1882680645) (the 'Bonds')

Shandong Ruyi Technology Group Co., Ltd Shandong Ruyi Technology Group Co., Ltd : European TopSoho S.à r.l. EUR250 million 4% secured guaranteed bonds due 2021 exchangeable into shares of SMCP S.A. (ISIN XS1882680645) (the 'Bonds') 05-Oct-2021 / 08:00 CET/CEST

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European TopSoho S.à r.l.

EUR250 million 4% secured guaranteed bonds due 2021

exchangeable into shares of SMCP S.A. (ISIN XS1882680645) (the "Bonds")

LUXEMBOURG - Media OutReach - 5 October 2021 - European TopSoho S.à r.l. (the "Company") received an alleged default notice (the "Default Notice") from the Trustee on 4 October, 2021 and was notified of, among other things, the following (unless otherwise defined capitalised terms shall have the same meanings as those defined in the trust deed (as amended and supplemented by a supplemental trust deed) constituting the Bonds): 1. An event of default under the Bonds has claimed to be occurred and continuing under condition 14(a)(i) asa result of (i) the Company failing to redeem the Bonds in full in cash at their principal amount on the maturitydate pursuant to condition 11(a), and (ii) the Company and the Guarantor failing to remedy such default within fivebusiness days after receipt of the Written Notice. 2. The "Acceleration Notification Date" is claimed to be the date of the Default Notice, the "DefaultExercise Commencement Date" is claimed to be 7 October 2021 and the "Expiry Date" is claimed to be 18 October 2021,which shall be read in connection with Condition 8. 3. Any Bonds which remain outstanding as at close of business on the Expiry Date and which have not beenvalidly exchanged pursuant to the Exchange Rights will be allegedly immediately due and payable without furtherformality or notice at the Early Redemption Settlement Amount.

The Company is actively considering its options in relation to the current situation and will keep the market informed.

About European TopSoho S.à r.l.

European TopSoho S.à r.l. is an investment holding company established in Luxembourg. The Company is the controlling shareholder of SMCP S.A. which is a leading accessible luxury fashion company listed on the regulated market of Euronext Paris.

European TopSoho S.àr.l. is a subsidiary of Shandong Ruyi Technology Group Company Limited, the leading apparel manufacturer and fashion brands operator headquartered in Shandong, China.

Any requests for information can be directed to the Company or the Company's legal counsel.

Ince & Co., as legal advisor to the Company

Email: [e-mail]

Contacts

European Topsoho S.à r.l.: Mandy Man ([e-mail])

Ince & Co.: Eric Lui ([e-mail])

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Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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End of Announcement - EQS News Service

1238208 05-Oct-2021

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October 05, 2021 02:00 ET (06:00 GMT)