Thursday 23 July 2026 ▪ 1
New milestone reached in adapting and strengthening the Casino Group’s financial structure
Paris, 23 July 2026
Further to the press release dated 10 July 2026, the Group announces that the credit committees of all of its bank creditors have given their agreement in principle to the following requests from the Company:
- The improvement of the terms of the TLB creditors’ security package by allowing them to benefit from the banks’ security package, and
- The waiver of the condition precedent requiring the approval of a two-thirds majority of TLB creditors for amending the safeguard plan.
The Group indicates that it received on 21 July 2026 the new version of the banks' agreement in principle reflecting the above elements.
The Board of Directors1, meeting today, approved the terms of this agreement.
The Group now intends, on the basis of the FRH proposal of 30 June 2026 (see presentation of July 6, 2026), to launch the procedure for amending the safeguard plans and the signing of the conciliation protocols with a view to implementing operations to adapt and strengthen its financial structure by the end of the second half of 2026.
The Group recalls that the RCF, TLB and Quatrim consents in relation to the event of default related to the entry into discussions with its creditors with a view to adapting and strengthening its financial structure expire on 26 July 2026. Each of these groups of creditors has therefore been requested to extend the consent until 24 September 2026.
By letter sent to the conciliator dated 22 July, the TLB lenders indicated, following the decision taken by the Board of Directors on 10 July, that they were refusing to extend their consent and preparing an application for the termination of the Company's safeguard plan on the basis of the event of default related to the entry into discussions with its creditors. It is recalled that the TLB lenders had agreed three times to extend their consent granted for the 1st time on 9 January 2026. The Group intends to assert its rights in the context of the application envisaged by the TLB lenders before the Paris Economic Court, which will concurrently rule on the draft amendments to the accelerated safeguard plans and the approval of the conciliation protocols.
It is recalled that the amendment of the safeguard plan would be massively dilutive for the current shareholders.
The Group specifies that it will publish its financial data estimates2 for the first half of 2026 on 30 July.
Thursday 23 July 2026 ▪ 2
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ANALYSTS AND INVESTORS CONTACTS
Charlotte IZABEL - cizabel@groupe-casino.fr - Tel: +33 (0)6 89 19 88 33
IR_Casino@groupe-casino.fr - Tel: +33 (0)1 53 65 24 17
PRESS CONTACTS
Casino Group – Communications Department
Stéphanie ABADIE - sabadie@groupe-casino.fr - Tel: +33 (0)6 26 27 37 05
directiondelacommunication@groupe-casino.fr - Tel: + 33(0) 1 53 65 24 29
Notes
- With only those members who were not in a conflict-of-interest situation taking part in the deliberations and the vote
- The financial data estimates do not constitute consolidated financial statements approved by the Board of Directors. They are subject to limited review by the Statutory Auditors, who will not, however, be able to issue their report in the absence of approved half-year financial statements. The consolidated financial statements for the year ended 31 December 2025 and the period ended 30 June 2026, on the basis of the going concern assumption, remain subject to the favourable outcome of the Group's financial restructuring.