NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Press release

Geneva, 31 October 2017

Perrot Duval announces issuance of unlisted straight bonds of a minimum CHF 5 million nominal and provides an update on outlook on investment activity and capital structure

Perrot Duval Holding S.A. announces today the issue of fixed rate straight bonds of a minimum of CHF 5 million and a maximum of CHF 6 million. The proceeds of the issuance of the bonds will be mainly used to increase Perrot Duval's financial flexibility to extend and refinance its current financial liabilities.

The Lead Manager, Neue Helvetische Bank AG, has firmly underwritten the bonds and offers the bonds to a limited number of potential investors in Switzerland during the book building period.

Issuer Perrot Duval Holding S.A., Geneva

Issue amount CHF [5,000,000 - 6,000,000]

Coupon [4⅝ - 5⅜]%

Duration 6 years

Issue price 100.0%

Denomination CHF 50,000 and integral multiples thereof

Early redemption At the option of the Issuer all outstanding bonds may be redeemed

at a premium at certain dates (for more details refer to the prospectus dated 30 October 2017)

Book building period 31 October 2017 to 3 November 2017 close of trading

Issue date 7 November 2017

No Listing The bonds will not be listed on any securities exchange

The final issue amount and final coupon are expected to be fixed and communicated on 3 November 2017 based on demand in the book building and on general market conditions. The Lead Manager reserves the right of early closing of the book building, at the earliest on 1 November 2017.

Copies of the prospectus may be obtained free of charge from Neue Helvetische Bank AG, Seefeldstrasse 215, 8008 Zurich (Phone +41 (0)44 204 56 19; e-mail: corporatefinance@nhbag.ch). Investors including shareholders of Perrot Duval interested to subscribe to the bonds are requested to contact Neue Helvetische Bank AG.

For 2017/18 and 2018/19, Perrot Duval is expecting substantially lower investments in tangible and intangible assets, a reduction of net financial liabilities and a higher equity ratio compared to 2016/17 (investments: CHF 2.3 Mio.; net financial liabilities: CHF 15.4 Mio., equity ratio: 15.5%). The outlook is in particular subject to market conditions, the general economic development in the countries of interest to Perrot Duval and currency fluctuations.

This press release is available on Perrot Duval's website and may be downloaded at http://www.perrotduval.com/article.php3?id_article=7.

For further information, please contact:

Nicolas Eichenberger, Chairman of the Board of Directors Perrot Duval Holding S.A., c/o Perrot Duval Management S.A., Place de la Gare 5, case postale, CH-1296 Coppet

Phone +41 (0)22 776 61 44, Fax +41 (0)22 776 19 17,

e-mail nicolas.eichenberger@perrotduval.com

LEGAL NOTE

THIS DOCUMENT IS NOT AN OFFER TO SELL OR A SOLICITATION OF OFFERS TO PURCHASE OR SUBSCRIBE FOR BONDS. THIS DOCUMENT IS NOT A PROSPECTUS WITHIN THE MEANING OF ARTICLE 652A OF THE SWISS CODE OF OBLIGATIONS, NOR IS IT A LISTING PROSPECTUS AS DEFINED IN THE LISTING RULES OF THE SIX SWISS EXCHANGE AG OR A PROSPECTUS UNDER ANY OTHER APPLICABLE LAWS. COPIES OF THIS DOCUMENT MAY NOT BE SENT TO JURISDICTIONS, OR DISTRIBUTED IN OR SENT FROM JURISDICTIONS, IN WHICH THIS IS BARRED OR PROHIBITED BY LAW. THE INFORMATION CONTAINED HEREIN SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY, IN ANY JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL PRIOR TO REGISTRATION, EXEMPTION FROM REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY JURISDICTION. THIS DOCUMENT AND THE INFORMATION CONTAINED HEREIN ARE NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN OR INTO (DIRECTLY OR INDIRECTLY) THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN OR INTO THE UNITED STATES. THE BONDS HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED.

Perrot Duval Holding SA published this content on 31 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 31 October 2017 06:07:03 UTC.

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