Admirals Group AS Sets August 10 Payment Date for Early Redemption of Tier 2 Subordinated Bonds

Admirals Group AS has scheduled an early redemption of its Tier 2 subordinated bonds for 10 August 2026. The company will repurchase all 27,016 outstanding notes, each with a nominal value of EUR 100, bringing the total nominal amount redeemed to EUR 2,701,600. Bondholders will receive EUR 100.11 per bond, representing the full nominal value plus accrued and unpaid interest.

The bonds were originally issued on 5 February 2021, with a follow-up issuance on 31 May 2021, and are registered under ISIN code EE3300001999. The redemption is being carried out under the terms set out in the Base Prospectus and the Terms and Conditions governing the instruments. Those provisions allow the issuer to redeem the bonds in full or in part once five years have passed since the issue date, provided the relevant supervisory authority approves the move and bondholders receive at least 30 calendar days' notice.

That regulatory approval has now been granted. The Cyprus Securities and Exchange Commission, acting as the competent consolidated supervisory authority for Admirals Group AS, signed off on the early redemption on 22 June 2026.

Eligibility for payment will be determined by bondholder records as of the close of business on 6 August 2026, based on the Nasdaq CSD settlement system. That date serves as the official record date for the redemption. Once the redemption amounts have been paid in full, the affected bonds will be treated as redeemed and subsequently removed from the register.