Zodiac Aerospace : Signature of undertakings by family shareholders

Plaisir, June 9, 2017 - Following the announcement of the new terms of the contemplated combination between Safran and Zodiac Aerospace on May 24, 2017 consisting in a primary uncapped cash offer at a price of €25 per share and a subsidiary exchange offer with a consideration in preferred shares of Safran, capped at 31.4% of Zodiac Aerospace's shares, Zodiac Aerospace announces that certain members of Zodiac Aerospace founding family shareholders have signed today undertakings to lock and tender their shares to Safran's tender offer representing more than 18% of Zodiac Aerospace's capital and, consequently, the condition precedent relating to the signing of these undertakings under the combination agreement has been fulfilled.

Taking into account the undertaking to lock and tender already subscribed by FFP, FFP Invest and the Strategic Holdings Fund, this brings to approximately 27% of Zodiac Aerospace's capital the total of the undertaking from the reference shareholders to the Safran public offer.

Certain family shareholders of Zodiac Aerospace holding less than 5% of Zodiac Aerospace's capital have also signed commitments for residual participation and will be able to remain shareholders of Zodiac Aerospace at the latest until January 2022.

Didier Domange, Chairman of Zodiac Aerospace's Supervisory Board said: "this commitment of Zodiac Aerospace's parent founding shareholders to lock and tender their shares to Safran's offer underlines the support of these shareholders to this contemplated combination. I am pleased with the progress of this project, in line with the new agreements announced last May."

Olivier Zarrouati, Chief Executive Officer of Zodiac Aerospace added: "I am delighted that this important milestone has been achieved in the realization of this important strategic project, which, subject to the completion of the next stages, will lead to the creation of the world number two in the aerospace equipment sector, set up to meet the new challenges of air transportation."

The main terms of these agreements will be published on the website of the Autorité des Marchés Financiers pursuant to the provisions of Article L. 233-11 of the French Commercial Code.