Marie Brizard Wine & Spirits: FINANCIAL INFORMATION

                                                                                                                                         Paris, 16 July 2020Financial informationSignature of an agreement subject to conditions precedent with United Beverages S.A. for the sale of the Group’s activities in Poland 
The closing of the transaction should take place within 2 to 4 months
 Agreement in principle on the modification of a contract for the bulk supply of Scotch Whisky concluded with a supplier of MBWS, allowing the balance of Advance 2 to be made available by COFEPP in the near future, subject to contractual formalization and the lifting of other conditions precedent.       Commitment by COFEPP to make available an additional intermediate tranche for a maximum
       amount of €5.5 million depending on the Group’s immediate needs.Annual General Meeting to be held in private on 31 July 2020
The AGM to decide on the approval of the 2019 financial statementsMarie Brizard Wine & Spirits (Euronext: MBWS) announces today major progress in the implementation of its strategic plan and on the financing agreements agreed with its majority shareholder COFEPP.AGREEMENT WITH UNITED BEVERAGES S.A., SUBJECT TO CONDITIONS PRECEDENT, FOR THE SALE OF MBWS ACTIVITIES IN POLANDMBWS announces the signing of an agreement with the United Beverages Group, subject to conditions precedent, in relation to the 100 percent sale of MBWS Polska’s shares and part of Polmos Lancut’s outstanding shares. The formal closing of the agreement is anticipated to take place within the next 2 to 4 months. It is reminded that the contribution of the Poland business is negative in the Group’s results, generating in 2019 an EBITDA of €-9.3 million and has substantially hampered the Group’s return to profitability in recent years.The agreement is conditional upon receiving a positive decision of the Polish Anti-Trust Authorities as well as upon the refunding of some of its financial debts related to the financing of the Polish activities.AGREEMENT-IN-PRINCIPLE CONCERNING THE MODIFICATION OF A CONTRACT FOR THE BULK SUPPLY OF SCOTCH WHISKY CONCLUDED WITH A SUPPLIER OF MBWSAt the completion of negotiations, the Group finally reached an agreement-in-principle with its supplier on the amendment of its contract for the bulk supply of Scotch Whisky.This agreement-in-principle, which is still subject to the prompt formalisation of the final contract, was today accepted by MBWS’s Board of Directors and by COFEPP. The aim is to complete the signing of the agreement in September.As a reminder, with respect to the financing of MBWS, the agreement signed with COFEPP on 20 December 2019 provided for a second current account advance of €17 million (the “Advance No.2”). Under the amended agreement entered into on May 13, 2020, which resulted in COFEPP providing a current account advance of €6 million to MBWS on May 25, 2020, an additional current account advance was to be made available to MBWS for a maximum amount of €4 million to meet the cash requirements of MBWS Group until July 15, 2020, subject to acceptance by COFEPP and upon proof of the cash requirements concerned. Under an agreement signed today between MBWS and COFEPP, COFEPP has agreed to make an additional amount available to the Group up to a maximum of €5.5 million (the “Balance 1bis”) -in place of the additional advance initially provided for of €4 million- depending on the Group’s immediate cash requirements. The securities granted to the benefit of COFEPP in respect of the funds made available as part of Balance 1bis will be identical to those provided for as part of the current account advance of May 25, 2020. The different amounts of the additional advances including Balance 1bis will be deducted from the amount of Advance No.2.The condition precedent relating to the amendment of the contract for the supply of Scotch Whisky must be lifted on the date of signature of the final amended contract to be concluded with the supplier. The balance of Advance No.2, i.e. an amount of between €5,5 million and €11 million depending on the amount of Balance 1bis actually made available by COFEPP, will soon be made available to MBWS, subject to (i) the final contractual formalization of the agreement-in-principle reached today and (ii) the lifting of the remaining conditions precedent, and in particular the agreement in principle of the public creditors to a moratorium on part of the Group’s tax and social security debts.It is reminded that the receivables held by COFEPP over the Group are intended to be converted into ordinary shares in the context of a capital increase, as previously announced, the terms and conditions of which remain unchanged. Further details on the terms and timing of the capital increase will be provided at a later date.HOLDING OF THE GENERAL MEETING IN PRIVATE ON JULY 31, 2020 In view of the health context, the Group has decided, pursuant to the terms of Order No. 2020-321 of March 25, 2020, to hold its annual general meeting behind closed doors. Under these conditions, the company will pay particular attention to the written responses following the receipt of written questions.This shareholders’ meeting will mainly focus on the approval of the 2019 financial statements and will not be called to vote on any resolution to increase the share capital, which will, if applicable, be the subject of a subsequent extraordinary shareholders’ meeting.In the light of the above commitments, the Group should now be in a position to meet its cash requirements at least until mid-October 2020, based on its forecasts and excluding exceptional external events.Financial Calendar:  Publication of first-half sales on July 29, 2020About Marie Brizard Wine & Spirits
Marie Brizard Wine & Spirits is a wine and spirits group based in Europe and the United States. Marie Brizard Wine & Spirits stands out for its know-how, a combination of brands with a long tradition and a spirit resolutely turned towards innovation. From the birth of the Maison Marie Brizard in 1755 to the launch the Fruits and Wine in 2010, the Marie Brizard Wine & Spirits Group has been able to develop its brands in a modern way while respecting their origins.
Marie Brizard Wine & Spirits’ commitment is to offer its customers trustworthy, bold and full of flavors and experiences. The Group now has a rich portfolio of leading brands in their market segments, including William Peel, Sobieski, Krupnik, Fruits and Wine, Marie Brizard and Cognac Gautier.Marie Brizard Wine & Spirits is listed on Euronext Paris Compartment B (FR0000060873 – MBWS) and is part of the EnterNext© PEA-PME 150 indexAttachmentMBWS_PR_POLAND_FINANCING_16JULY2020_FV