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Class 1 Warrants & Class 2 Warrants

issued as part of the share capital increase of December 2015

IMPORTANT NOTICE FOR THE READERS

This section relates to the warrants issued in December 2015 as part of the Capital Increase. The offer described in the related Prospectus was opened to the public in France exclusively. This documentation shall not be published, distributed or circulated, directly or indirectly, in or into the United States of America, Australia, Canada or Japan or any other country in which such publication, distribution or circulation would be unlawful. Each press release and documents details the applicable restrictions.The information contained herein do not constitute either an offer to sell or purchase or the solicitation of an offer to sell or purchase Warrants or existing shares of the Company.


Liquidity period of the warrants

As part of the (capital increase) of December 2015, Parrot has issued warrants to allow shareholders to share in the future development of the Company, and also to enable Managers to participate in its future growth, in particular through the commitment of Horizon (a company controlled by Mr. Henri Seydoux) to sell to Managers up to 20 % of the Warrants that it will hold upon completion of this transaction.

The prospectus filed with the AMF details the terms of the warrants. In particular, it explains that the Warrants are not listed and non tradable until December 15, 2020 (included) but they can however be sold to employees, officers or directors of the Company and/or of its current or future subsidiaries.
These transaction can be accomplished following the publication by the Company of a reference value of the Class 1 Warrants and of the Class 2 Warrants during the 10 calendar day period after the publication by the Company of its press release relating to its annual or half-year financial results, as the case may be (see financial calendar).

The press releases below announce the opening and inform on the closing of each Liquidity Period. All warrants holders are reminded to refer to the detailed information provided in the Offering Circular.


Press releases relating to the Liquidity Periods



1/ from December 16, 2015 to January 4, 2016 (inclusive)
 Terms of the Liquidity Period of the Warrants 16/12/2015
 Results of the Liquidity Period of the Warrants 06/01/2016

2/ From March 11, 2016 to May 9, 2016 (inclusive)
 Opening of the first window of transferability for the warrants 10/03/2016
 Independent opinion on the value of the warrants as part of the opening of the first window of transferability for the warrants (in french)
 Final results of the first window of transferability of the warrants 19/05/2016

3/ From August 9, 2016 to October 7, 2016 (inclusive)
 Opening of the second window of transferability for the warrants August 8th, 2016
 Independent opinion on the value of the warrants as part of the opening of the tsecond window of transferability for the warrants August 9, 2016
 Final results of the second window of transferability of the warrants 14/10/2016

4/ From March 7, 2017 to May 5, 2017 (inclusive)
 Opening of the third window of transferability for the warrants March 6, 2017
 Independent opinion on the value of the warrants as part of the opening of the third window of transferability for the warrants March 6, 2017
 Final results of the third window of transferability of the warrants 15/05/2017

5/ From August 8, 2017 to October 6, 2017 (inclusive).
 Opening of the fourth window of transferability for the warrants 07/08/2017
 Independent opinion on the value of the warrants as part of the opening of the fourth window of transferability for the warrants (in french) 07/08/2017
 Final results of the fourth window of transferability of the warrants 16/10/2017

6/ from March 23, 2018 to May 21, 2018 (inclusive)
 Opening of the fifth window of transferability for the warrants 22/03/2018
 Independent opinion on the value of the warrants as part of the opening of the fifth window of transferability for the warrants (in french)
 Final results of the fifth window of transferability of the warrants 31/05/2018

7/ from August 10, 2018 to October 8, 2018 (inclusive)
 Opening of the sixth window of transferability for the warrants 09/08/2018
 Independent opinion on the value of the warrants as part of the opening of the sixth window of transferability for the warrants (in french)
 Final results of the sixth window of transferability of the warrants 18/10/2018


The next Window of Transferability should be announced in the course of March 2019 at the latest and shall cover a period of 60 calendar days following this announcement.