SCOR SE (the “Company”) announces the launch of a tender offer (the “Tender Offer”) to purchase for cash any and all of its EUR 250,000,000 Fixed to Reset Rate Undated Subordinated Notes issued on 1st October 2014 (ISIN: FR0012199123) (eligible as Tier 1 Own Funds regulatory capital and benefitting from transitional measures for tiering of subordinated liabilities until the end of December 2025), with a First Call Date on 1st October 2025 (of which EUR 250,000,000 are currently outstanding) (the “Notes”). The Notes are admitted to trading on the regulated market of the Luxembourg Stock Exchange.

Simultaneously, the Company announces its intention to issue, subject to market conditions, new Euro-denominated perpetual fixed rate resettable restricted Tier 1 notes being eligible as Restricted Tier 1 regulatory capital under Solvency II (the “New Notes”). The net proceeds of the issue of the New Notes will be used for general corporate purposes of the Group including through the repurchase of all or part of the Notes.

The Tender Offer is conditional upon the successful completion, in the Company’s sole determination, of the issue of the New Notes.

A mechanism of priority allocation in the New Notes may be applied at the sole and absolute discretion of the Company for holders of the Notes who participate in the Tender Offer and who wish to subscribe to the New Notes.

The Tender Offer will be open during the period from 12 December 2024 until 18 December 2024 at 5:00 p.m. (Paris time). The results of the Tender Offer will be announced as soon as reasonably practicable after the expiration of the offer and on 19 December 2024 at the latest (subject to any extension, termination, withdrawal, reopening or modification of such Tender Offer).

The terms and conditions of the Tender Offer are further described in the Tender Offer Memorandum dated 12 December 2024.

The Tender Offer and the intended issuance of the New Notes are part of the Company's proactive management of its financing structure.

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