Adecco International Financial Services B.V. - Tender Offer - Launch

Adecco International Financial Services B.V. announces Tender Offer for its €500,000,000 1.000 per cent. Notes due 2 December 2024 - XS1527526799

28 NOVEMBER 2023

Full announcements, including disclaimers and restrictions available via Lonse

"28 November 2023.  Adecco International Financial Services B.V. (the Company) announces today its invitation to holders of its outstanding €500,000,000 1.000 per cent. Notes due 2 December 2024 (ISIN: XS1527526799) (the Notes) (such Notes being guaranteed by Adecco Group AG), to tender their Notes for purchase by the Company for cash (such invitation the Offer).  The Offer is being made on the terms and subject to the conditions contained in the tender offer memorandum dated 28 November 2023 (the Tender Offer Memorandum) prepared by the Company, and is subject to the offer and distribution restrictions set out below (the Offer and Distribution Restrictions) and as more fully described in the Tender Offer Memorandum.

Copies of the Tender Offer Memorandum are (subject to the Offer and Distribution Restrictions) available from the Tender Agent as set out below. Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

Rationale for the Offer

The Offer is being made to optimise the Adecco Group's debt maturity profile and cost of capital, in line with the Adecco Group's objectives.

The Company intends to cancel all Notes it purchases pursuant to the Offer. The Offer is not conditioned on the Company obtaining any financing.

Summary of the Offer

A summary of certain of the terms of the Offer appear below:

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