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Envisaged merger by absorption of Zodiac Aerospace by Safran

Governing bodies of Safran and Zodiac Aerospace and the employee representatives at the two companies were informed of an envisaged merger of the entities via the absorption of Zodiac Aerospace by Safran.

The contemplated merger is consistent with the intentions laid out in the information memorandum dated December 21, 2017 relating to the Tender Offer and in which Safran reserved its right to consider the best way to integrate Zodiac Aerospace.

The conditions of the contemplated merger would be subject to prior authorizations as well as consultation of the employee representative bodies of Safran and Zodiac. The contemplated merger is expected to be completed before the end of 2018.