Maya S.A.S., formerly known as Iliad Holding S.A.S.

DC Decision

EMEA DC Meeting Statement – 8 October 2025

The EMEA DC met on 3 October and 7 October 2025 to finalise discussions.  The EMEA DC noted that there were two relevant entities for the purposes of the DC Question:

• The company registered under number 811 282 789 RCS Paris, which was originally incorporated under the name “Proper”. It changed its name (i) to “HoldCo” on 30 April 2018, (ii) to “Iliad Holding” on 1 October 2021 and (iii) to “Maya” on 10 July 2025 (Original Iliad Holding); and
• The company registered under number 844 857 268 RCS Paris, which was originally incorporated under the name “NJJ Project IX”. It changed its name (i) to “HoldCo II” on 6 November 2019 and (ii) to “Iliad Holding” on 10 July 2025 (New Iliad Holding).

Per its press release of 1 July 2025 (https://www.iliad.fr/media/Iliad_Information_Release_Corporate_Reorg_and_Issuer_Substitution_947585197d.pdf), Original Iliad Holding “today announced that it has successfully completed an internal corporate reorganization (the “Corporate Reorganization”), pursuant to which [Original Iliad Holding] has transferred all or substantially all of its assets to [New Iliad Holding]” and noted that a further name change would occur shortly afterwards.

The Moody’s Report (https://www.moodys.com/research/Moodys-Ratings-assigns-Ba3-CFR-to-the-Iliads-new-holding-Rating-Action--PR_509977) states that “The withdrawal of the CFR at [Original Iliad Holding] and the assignment to [New Iliad Holding] follows a corporate reorganization in which [New Iliad Holding] assumed all the obligations of [Original Iliad Holding]. As a result, [New Iliad Holding] becomes the new top entity of the restricted group and will be responsible for producing consolidated financial statements” and that “[New Iliad Holding] has assumed all of the obligations of [Original Iliad Holding], including €4.7 billion euro equivalent of the existing backed senior secured notes previously issued by [Original Iliad Holding].”

On the basis of the Eligible Information, the EMEA DC concluded that the entity now known as Iliad Holding S.A.S. (referred to above as New Iliad Holding) was the sole Successor to the entity now known as Maya S.A.S. (formerly known as Iliad Holding S.A.S. and referenced above as Original Iliad Holding) and that the Succession Date was 1 July 2025.

The EMEA DC met on 1 October 2025 to commence discussions with respect to the Successor question on Maya S.A.S. and agreed to meet again on Friday 3 October to continue discussions.

Pursuant to the standing resolution passed by the EMEA Determinations Committee (DC) on June 21, 2010, the first meeting of the EMEA DC to deliberate the DC Questions relating to this DC Issue has been deferred pending deliberation of such DC Questions by the EMEA DC legal subcommittee.

Please refer to EMEA_DC_Standing_Resolution_210610.