Lecta Secures Lock-Up Agreement with Key Stakeholders for Comprehensive Recapitalisation

Lecta Ltd (“Lecta”, and together with its direct and indirect subsidiaries, the “Group”) is pleased to announce that Lecta and key stakeholders of the Group, representing the Group’s largest financial creditors and shareholders (the “Key Stakeholders”) have executed a lockup agreement (the “Lock-up Agreement”), pursuant to which those parties agree to support the implementation of a comprehensive recapitalisation transaction (the “Recapitalisation”). With the support of the Key Stakeholders, Lecta has the necessary support required under the Lock-up Agreement to facilitate the implementation of the Recapitalisation. The Lock-up Agreement marks an important step in the Group’s efforts to achieve the proposed Recapitalisation, which will result in, among other things:  Substantial deleveraging of the balance sheet via c.€400 million debt reduction, resulting in a pro forma Group net leverage of less than 3x;  Significant enhancement of the Group’s liquidity position with up to c.€100 million of financing available to the Specialties business unit to (i) facilitate a holistic operational transformation and (ii) fund its working capital requirements;  Material reduction in cash interest payments and resulting improvement in cash flow generation; and  Completion of the Group’s ongoing Corporate Reorganisation into independently managed and financed business units. Following the execution of the Lock-up Agreement, the Group will now have access to c.€20 million interim liquidity – made available by its Key Stakeholders – (“Interim Financing”), which will further enhance the Group’s liquidity position through the implementation of the Recapitalisation, which is expected to close during Q1 2026. Lecta Chairman Javier Abad Marturet said: “We are grateful for the continued support of our key stakeholders and their strong commitment to Lecta. This milestone represents an important step toward securing a sustainable, long-term solution for the Group. We look forward to working closely with our stakeholders to support execution of the Group’s strategy and unlock its full potential.” Lecta CEO Gilles Van Nieuwenhuyzen said: “We are very pleased that Lecta now has the support from its key financial stakeholders to move towards implementation of the Recapitalisation. The significantly de-levered capital structure and new liquidity will provide Lecta with a stable financial footing to facilitate the Group’s ongoing transformation process and enable the management team to focus on delivering best in class paper products to our customers and cost competitiveness.” There will be an ability for holders of the New Money Notes (“NMNs”) and Senior Secured Notes (“SSNs”) (together the “Noteholders”) to participate in the Lock-up Agreement. The detailed terms of that potential participation, and of the transactions contemplated by the Lock Up Agreement, will be provided in the following weeks and in any event on or before 31 January 2026.