dK Calls on PANDION AG Bondholders to Join Forces

SdK Calls on PANDION AG Bondholders to Join Forces

PANDION AG, issuer of the 2021/2028 bond (ISIN: DE000A289YC5 / WKN: A289YC), filed an application with the competent insolvency court on August 10, 2026, for the opening of insolvency proceedings over the assets of the company and, at the same time, applied for debtor-in-possession proceedings (Eigenverwaltung). Corresponding applications were also filed for PANDION Real Estate GmbH, PANDION Vertriebsgesellschaft mbH, PANDION Design GmbH, PANDION Projektmanagement GmbH and PANDION Engineering GmbH.

The purpose of the requested debtor-in-possession proceedings is to continue the operations of the companies concerned and to pursue the restructuring of the PANDION Group within an orderly insolvency process. The insolvency filing is attributable to the company’s liquidity situation, which could not be stabilized even after the announcement that an interest payment would be suspended.

SdK Schutzgemeinschaft der Kapitalanleger e.V. has been in contact with a large number of bondholders and has represented their interests for almost one year. In October 2025, the bondholders adopted, among other measures, an extension of the bond’s maturity and an adjustment of the interest rate at a bondholders’ meeting in an effort to stabilize the issuer’s financial situation. However, these measures, as well as the announced suspension of the most recent interest payment, apparently failed to resolve the company’s existing liquidity problems.

To keep bondholders informed, SdK has established a free newsletter. Affected bondholders can register at www.sdk.org/pandion. The newsletter provides updates on current developments and important dates.

Once the insolvency court opens the insolvency proceedings, it will also convene a bondholders’ meeting to vote on the appointment of a joint representative. In addition, an insolvency creditors’ meeting will be held to vote on important procedural measures, including the appointment of an insolvency monitor or insolvency administrator and a creditors’ committee.

SdK offers free proxy voting representation for all upcoming meetings. A corresponding power of attorney form and further information on proxy voting are also available at www.sdk.org/pandion.

Affected members are welcome to contact us with any questions at info@sdk.org or by telephone at +49 89 20208460.

Munich, 10^th of August 2026
SdK Schutzgemeinschaft der Kapitalanleger e.V.

Note: SdK is a bondholder of the issuer!