EssilorLuxottica to acquire HAL's 76.72% interest in GrandVision and launch a mandatory public offer for the remaining shares upon completion of the transaction

EssilorLuxottica intends to acquire full ownership in GrandVision to create a truly global eyecare and eyewear company

• EssilorLuxottica to acquire HAL's 76.72% interest in GrandVision at a cash purchase price equal to Euro 28 per share – to be increased by 1.5% to Euro 28.42 if closing of the acquisition does not occur within 12 months from the announcement date
• Transaction supported by GrandVision's Management Board and Supervisory Board
• After the closing of the Transaction with HAL, EssilorLuxottica will launch a Mandatory Public Offer for all outstanding GrandVision shares
• Irrevocable commitment received from HAL to sell its shareholding to EssilorLuxottica
• The combination, which further complements EssilorLuxottica’s scope of activities, will allow the company to deliver a superior eyecare and eyewear experience to more people globally
• The Transaction is expected to close in 12 to 24 months
• GrandVision will benefit from EssilorLuxottica’s commitment to, and investment in, product innovation, supply chain, talent development and digital knowledge to foster a richer relationship with GrandVision’s more than 150 million consumers
• Through the acquisition of GrandVision, EssilorLuxottica will expand its optical retail platform, primarily in Europe, by adding more than 7,200 stores globally, over 37,000 employees and Euro 3.7 billion in annual revenue
• The Transaction is subject to various closing conditions, including regulatory approvals and mandatory consultation procedures