PRESS RELEASE
Paris, September 2, 2025




Chargeurs is accelerating its transformation
The Group is assessing the potential sale of Novacel following several
indicative expressions of interest

 Indicatives expressions of interest received for the platform Innovative Materials
Compagnie Chargeurs Invest has received several indicative expressions of interest for the
entire scope of Novacel, world leader in process film. As part of its active portfolio
management strategy, previously communicated on several occasions to the market, the
Group is reviewing the various opportunities available
 Indicative expressions of interest reflecting the quality of the asset and the value created
over the past decade
These proposals demonstrate market recognition of an asset that has been deeply
transformed over the past ten years. Thanks to a long-term development strategy and
significant investments, Novacel is now the global leader in its market – a growing, profitable,
and innovative business that has proven resilient throughout economic cycles
 Given the indicative valuations expressed, consistent with the latest NAV of €24/share
published by the Group, an arbitrage, if decided, could have a significant favorable impact
on the equity, the net result and the future investment capacity of Compagnie Chargeurs
Invest.
 Preliminary considerations which are part of the long-term investor-operator strategy
deployed by the Group
Should these expressions of interest be pursued, the proceeds from a potential sale would be
aligned with the Group’s long-term expansion strategy led by the Fribourg Family Group and
its partners.
The Group emphasizes that these considerations are at a preliminary stage, and no decision
has been made. Chargeurs could decide to retain Novacel in view of new development
opportunities.



Michaël Fribourg, Chairman and CEO of Compagnie Chargeurs Invest, stated: « We have received
several indicative expressions of interest for the Innovative Materials platform. These proposals, serious
and ambitious for the future of the asset, demonstrate the quality of the work accomplished by the teams
and the industrial and heritage value created over the years.

True to our culture as an active investor, we are rigorously reviewing all options that could maximize long-
term value creation, in the best interests of Compagnie Chargeurs Invest, Novacel, and all stakeholders.

Novacel’s journey within our portfolio is a clear illustration of the strength of our model — that of a long-
term investor, as well as an operator and developer of global champions. For over 40 years, we have
supported this business through key stages of its development, supporting innovation and business
transformation to accelerate value creation. »


Financial Communications // +33 1 47 04 13 40 // comfin@chargeurs.com 1
www.chargeurs.com
PRESS RELEASE
Paris, September 2, 2025




Several indicative expressions of interest received for the Innovative Materials platform
Compagnie Chargeurs Invest has received several serious expressions of interest for its Innovative
Materials platform, which is entirely composed of the Novacel business.
The Group is currently reviewing these offers in order to determine the most relevant option for the next
phase of this business’s development.
This process is fully in line with the Group’s active portfolio management strategy, which has been
communicated to the market on several occasions.


indicative expressions of interest reflecting the quality of the asset and the trajectory
achieved
The offers received highlight the strategic transformation Novacel has done. The business has benefited
from long-term support and significant investments across all areas: industrial assets (over €80 million in
capex since 2015), innovation and R&D, marketing, sales network, etc.
This strategy has enabled Novacel to establish itself as the global leader in the industrial process films
market — a powerful and sustainably profitable business.
Today, Novacel’s profitable growth is driven by a robust business model, strong innovation capabilities,
and recurring results.
In 2024, Novacel generated nearly €300 million in revenue, with around 800 employees across several key
sites worldwide.


A potential arbitrage in line with the Group’s long-term expansion strategy
Should the Group decide to act on these expressions of interest, the proceeds from a potential transaction
would further strengthen its ability to pursue its long-term expansion strategy.
In line with its financial discipline, Compagnie Chargeurs Invest aims to allocate resources where its role
as a shareholder-developer can create the greatest long-term value.
The considerations regarding the indicative expressions of interest are at a preliminary stage, and no
decision has been made, meaning that Compagnie Chargeurs Invest could ultimately decide to retain
Novacel.



2025 Financial calendar

Wednesday, September 10, 2025 (before market opens) 2025 First-half results
Wednesday, November 5, 2025 (before market opens) 9M and Q3 2025 revenue

ABOUT COMPAGNIE CHARGEURS INVEST
Compagnie Chargeurs Invest is a mixed industrial and financial company with a role as an operator and developer of global
champions in industry and services, and as an investor with a culture of active portfolio management of high value-added
businesses. Active in nearly 100 countries with around 2,600 employees, Compagnie Chargeurs Invest relies on the long-term
commitment of Groupe Familial Fribourg, a committed controlling shareholder, and on its portfolio of assets, to meet the major
challenges of its markets. Compagnie Chargeurs Invest achieved revenues of €729.6 million in 2024.

The share is listed on Euronext Paris and is PEA-PME eligible.
ISIN Code: FR0000130692, Bloomberg Code: CRI:FP, Reuters Code: CRIP.PA

Financial Communications // +33 1 47 04 13 40 // comfin@chargeurs.com 2
www.chargeurs.com