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Chamonix Les Praz operation

Investor communications

We hereby inform you that SPV RZS 1 (911 050 276 RCS Paris), a company in which you hold bonds issued as part of the financing of a sale and repurchase transaction of a prestigious chalet in Chamonix located at 997, route des Praz, 74400 Chamonix Mont-Blanc (the " Financed Project ") was sold by Raizers to its sole shareholder Mentor (419 415 617 RCS Nancy) (the " Disposal ") as part of an internal reorganization of shareholdings.

Please note that this Assignment will have no impact on the ownership of your obligations or on the Financed Project, which will continue to run as agreed.

The bondholders' representative remains Raizers, which will continue to represent and defend (if necessary) the interests of the bondholders.

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We would be grateful if you could acknowledge this Assignment by ticking the box below.*