GTT: Evolution of GTT’s share capital

Evolution of GTT’s share capital

• Sell-down by Engie of 10% of GTT’s share capital and issue of an exchangeable bond for an amount of €290 million
• Following these operations, Engie's stake in GTT's share capital will decrease from 40.4% to c. 30% (and potentially c. 20% in the event of exercise of the exchangeable bond)
• Share buy-back by GTT of 0.5 % of its own shares

St Rémy-les-Chevreuse, May 26, 2021 - Engie announced today the sale of 3.7 million GTT shares, representing 10 % of the company's share capital, through an accelerated bookbuild process, at a price of €67 per share. Engie also announced the simultaneous issue of an exchangeable bond into existing ordinary shares of GTT for a total nominal amount of €290 million not bearing interest (zero coupon) and having a maturity of 3 years, with a premium exchange rate of 20 % compared with the placement price of the GTT shares sold simultaneously.

On the occasion of this transaction, GTT bought back 185 392 shares at a unit price of €67. The settlement is expected to take place on or around May 28, 2021. This share buyback, amounting to €12.4 million, is financed with GTT's available cash. It was carried out within the framework of the share buyback program authorized by the 13th resolution voted at the General Meeting of Shareholders dated June 2, 2020. It is intended to cover future allocations of the Group's performance shares, and more generally, any allocation or sale of shares, particularly within the framework of a Group savings plan.

Engie's stake in GTT's share capital now represents c. 30%, of which c. 10% corresponds to the exchangeable bond, compared with 40.4% previously. The composition of the Board of Directors will therefore be adjusted in order to comply with best practices and the recommendations of the AFEP-MEDEF code in matters of governance.

Philippe Berterottière, Chairman and CEO of GTT, stated: “I would like to pay tribute to our shareholder Engie, who has accompanied GTT's development for more than 50 years and has contributed to making it an undisputed leader in its field. Following the sale by Engie of 10% of its stake, GTT's shareholder base is solid and balanced, and the free float is increasing significantly. We are proud to be supported by many leading institutional investors who will allow us to pursue our independent model. As a leading technology player, GTT is maintaining its trajectory of growth and innovation to meet the needs of its customers for their energy transition and the increased requirements they face."

Investor Relations Contact

information-financiere@gtt.fr +33 1 30 23 20 87

Media Contact:

press@gtt.fr / +33 1 30 23 80 80

For more information, visit the GTT website, www.gtt.fr.

About GTT

GTT is the technological expert in membrane containment systems dedicated to the transport and storage of liquefied gases. For over 50 years, GTT has been designing and marketing advanced technologies for improved energy performance. GTT technologies combine operational efficiency and safety to equip LNG carriers, floating terminals, onshore storage tanks and multi-gas carriers. The Group also offers systems for the use of LNG as fuel, as well as a wide range of services, including digital solutions in the field of Smart Shipping. GTT also operates in the hydrogen sector through its subsidiary Elogen, which designs and assembles electrolysers for the production of green hydrogen.

GTT is listed on Euronext Paris, Compartment A (ISIN FR0011726835, Euronext Paris: GTT) and is notably included in the SBF 120 and MSCI Small Cap indexes.

Attachment

• IR-PR Evolution of GTT's share capital 26 05 2021