Exelor : Inside Information / Ad Hoc Information

EXELOR LTD

MD Building, Purcell Estate - PO BOX 4064

Road Town - Tortola

British Virgin Islands

("EXELOR")

NOTICE

to holders of Global Depositary Receipts

RESIGNATION OF THE DEPOSITARY

October 6 2022

EXELOR hereby informs the holders of the Global Depositary Receipts (ISIN: US3016EQ1000) (the

"GDRs") representing its outstanding Non-Voting Shares (ISIN: VGG3243H1064) (the "Deposited Securities") that on 18 July 2022 it was been served with a resignation letter dated 15 July 2022 (the "Resignation Letter") from Deutsche Bank Trust Company Americas (the "Depositary") as depositary of EXELOR's Non-Voting Shares and as Issuer of the GDRs pursuant to the regulation S deposit agreement between the EXELOR and the Depositary dated 19 December 2008 (the "Regulation S Deposit Agreement").

Pursuant to the terms of the Regulation S Deposit Agreement, (i) this resignation becomes effective at the earlier of (a) 90 days after service of the Resignation Letter (i.e. 16 October 2022) (the "Resignation Effective Date") and (b) the appointment by EXELOR of a successor depositary and the acceptance of such appointment by such successor. Under the terms of the Deposit Agreement EXELOR is required to use its reasonable efforts to appoint such a successor depositary and therefore has established contact with several financial institutions.

If no successor depositary is appointed by the Resignation Effective Date, the Depositary may terminate the Deposit Agreement by notice of termination to the holders of all GDRs, 30 days prior to the chosen termination date and upon surrender of their GDRs, the holders of the GDRs will be entitled to delivery of the Deposited Securities represented by their GDRs. The GDRs are in global form and a master GDR is held by a common depositary on behalf of Euroclear and Clearstream (which in turn have credited the accounts of their participant institutions through which such GDRs are held by individual Depositary Receipts), who will coordinate the practical steps with EXELOR and the Depositary.

Holders of GDRs will be informed in due course whether an appointment of a successor depositary has occurred or whether other steps will be envisaged for the delivery of the Deposited Securities.