Galderma Successfully Issued an Inaugural CHF 500 Million Bond

Galderma Group AG (SWX:GALD):

NOT FOR DISTRIBUTION IN THE UNITED STATES OR IN ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE RESTRICTED BY APPLICABLE LAW OR REGULATION

Galderma successfully placed an inaugural bond with a total amount of CHF 500 million through a dual tranche offering:

• CHF 250 million bond, with a 4-year maturity and a 1.6% fixed-rate annual coupon
• CHF 250 million bond, with a 8-year maturity and a 1.9% fixed-rate annual coupon

The payment date of the bonds is September 27, 2024. The bonds will be listed on the SIX Swiss Exchange and are expected to be included in the domestic segment of the Swiss Bond Index (SBI). The bonds were placed under the lead management of UBS and Zürcher Kantonalbank.

To support the issuance of the bond, Galderma obtained two investment grade ratings from UBS and Zürcher Kantonalbank (BBB- “Improving” and BBB- “Stable” respectively).

The net proceeds of the transaction will be used for the partial refinancing of its existing Bank Term Loan issued at Initial Public Offering (IPO) and general purposes. This successful issuance is leverage-neutral and doesn’t affect Galderma’s guidance for full-year 2024 on net sales, Core EBITDA margin, leverage and interest cash expense for the second half of 2024, as last communicated on July 25, 2024.

About Galderma

Galderma (SIX: GALD) is the pure-play dermatology category leader, present in approximately 90 countries. We deliver an innovative, science-based portfolio of premium flagship brands and services that span the full spectrum of the fast-growing dermatology market through Injectable Aesthetics, Dermatological Skincare and Therapeutic Dermatology. Since our foundation in 1981, we have dedicated our focus and passion to the human body’s largest organ – the skin – meeting individual consumer and patient needs with superior outcomes in partnership with healthcare professionals. Because we understand that the skin we are in shapes our lives, we are advancing dermatology for every skin story. For more information: www.galderma.com

Disclaimer
This announcement does not constitute an offer to sell, a solicitation of an offer to buy any of the bonds described herein or any other securities issued by Galderma, or any kind of advice, nor shall there be any offer, solicitation or sale in any country or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any country or jurisdiction. This press release also does not constitute a prospectus as such term is understood pursuant to the Swiss Financial Services Act and not a prospectus under any other applicable laws. A decision to invest in the bonds mentioned herein should be solely made based on the prospectus published in connection with the offering. Except as required by law, Galderma does not have the intention or obligation to update any part of this publication.

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