SUEZ ENVIRONNEMENT (EPA:SEV) Clarifications of SUEZ Group following Veolia's false and misleading statements

Transparency directive : regulatory news

24/09/2020 21:28

press release

Paris, September 24th, 2020

Clarifications of SUEZ Group following Veolia's false and misleading statements

Following Veolia's false and misleading statements reported in different media,
SUEZ wants to make the following clarifications, regarding the implementation
of the mechanism aiming at avoiding the dismantling of its French activities
proposed by Veolia:

* SUEZ has transferred to an independent Dutch foundation two ordinary shares
  of its main subsidiaries involved in the French Water activity of SUEZ. As
  regards SUEZ Eau France, it is thus only one share out of the 42 million
existing shares.

* The French Water activity of SUEZ as well as its public-service missions thus
  remain effectively located in France, with moreover the review of a project
  aiming at opening SUEZ Eau France's share capital to its employees.

* Its control, its management as well as its accounting consolidation remain
  unchanged, under SUEZ group's management.

* As a reminder, the Board of Directors believes that a potential transfer of
  SUEZ Eau France in the context of Veolia's hostile project would be against
  the corporate interest of SUEZ. The only mission given to the foundation is
  to ensure that the French Water activity remains under the control of SUEZ
  during 4 years. The foundation is administered by three persons: a former
  employee of SUEZ, an employee member of SUEZ's employee representative
  bodies and a Dutch lawyer. Theirs decisions are taken at a simple majority.

* Hence, the bylaws of the entities involved provide that any contemplated
  transfer of the French Water activity outside of the SUEZ group will require,
  during 4 years, the approval of the Board of Directors of SUEZ as well as
  the approval of the foundation(1).

* Until a potential change of control of the SUEZ group, the Board of Directors
  of SUEZ keeps the possibility to deactivate this mechanism.

* At the end of the aforementioned 4-year period, the foundation will be wound
  up.

Veolia's statements according to which there would be "an exile of part of
their activities", "transfer of the French Water activity abroad" or "the
transfer in a fiscal heaven", are therefore groundless.

CONTACTS

Media

Isabelle Herrier Naufle
isabelle.herrier.naufle@suez.com
+33 6 83 54 89 62

Analysts & Investors
Mathilde Rodie / Cécile Combeau
+33 1 58 81 24 32 / +33 1 58 81 55 71

About SUEZ:
Since the end of the 19th century, SUEZ has built expertise aimed at helping
people to constantly improve their quality of life by protecting their health
and supporting economic growth. With an active presence on five continents,
SUEZ and its 90,000 employees strive to preserve our environment's natural
capital: water, soil, and air. SUEZ provides innovative and resilient solutions
in water management, waste recovery, site remediation and air treatment,
optimizing municipalities' and industries' resource management through "smart"
cities and improving their environmental and economic performance. The Group
delivers sanitation services to 64 million people and produces 7.1 billion m3
of drinking water. SUEZ is also a contributor to economic growth, with more
than 200,000 jobs created directly and indirectly on an annual basis, and a
provider of new resources, with 4.2 million tons of secondary raw materials
produced. By 2030, the Group is targeting 100% sustainable solutions, with a
positive impact on our environment, health and climate. SUEZ generated total
revenue of EUR18.0 billion in 2019.

    Find out more about the SUEZ Group on the website & on social media

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(1) These bylaws also include provisions that aim at avoiding any circumvention
of this mechanism. The foundation's approval will be deemed granted for
certain operations which do not significantly affect the French Water activity
perimeter.

SUEZ
Head Office: Tour CB21 - 16, Place de l'Iris, 92040 Paris La Défense Cedex,
France - Tel: +33 (0)1 58 81 20 00 - www.suez.com
Limited Liability Company with a share capital of EUR2,513,450,316 - Siren
(French business administration number) 433 466 570 RCS Nanterre - VAT FR
76433 466 570

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