Automotores Gildemeister Launches Exchange Offers and Consent Solicitations to Enhance Financial Flexibility and Support Growth Initiatives

Over 95% of noteholders have agreed to participate, demonstrating confidence in the Company's strategy

SANTIAGO, Chile, Nov. 22, 2025 /PRNewswire/ -- Automotores Gildemeister SpA ("Gildemeister") today announced the launch of exchange offers for its Junior Notes maturing in 2027 and Subordinated Notes maturing in 2035 (collectively, "the Existing Notes") for new Senior Notes maturing in 2032 and new Subordinated Notes maturing in 2035 to be issued by a newly created holding company. Concurrently with the exchange offers, Gildemeister will solicit consents from the holders of its Existing Notes to make certain amendments to its Existing Notes and release the collateral securing its Junior Notes maturing in 2027. The transaction is expected to reduce Gildemeister's leverage ratio and strengthen the Company's long-term debt maturity profile in support of its growth plans in Chile and Peru.

Andrés Salvestrini, CFO of Automotores Gildemeister, said, "Since our restructuring in 2021, we have strengthened key OEM relationships in Chile and Peru, complemented our portfolio with additional brands, and generated resources used to repurchase debt. At the same time, we have significantly enhanced our banking relationships, expanding and diversifying working capital financing lines. The transactions announced today seek to capitalize on these advances by establishing a long-term debt profile that enables Gildemeister to continue benefitting from its strong operational performance and invest in regional growth."

The exchange offers are expected to pay down approximately 17% of the Existing Notes and extend the maturity profile of the existing Junior Notes to 2032. The new notes will be issued by a newly created holding company which will hold the equity of Automotores Gildemeister SpA following the closing of the exchange offers. This structure concentrates long-term financial debt at the parent level, streamlines the operating company's balance sheet, reduces foreign exchange exposure, and enhances access to working capital facilities under improved conditions.

Salvestrini added, "The transaction currently has support from bondholders representing over 95% of the total amount of notes involved, reflecting strong confidence in the company's strategy and management. For this reason, we invite all remaining bondholders to participate. The offer has an early exchange date of December 5 and will otherwise remain open until December 22, in each case, unless extended by the company."

About Automotores Gildemeister

Automotores Gildemeister is one of the leading vehicle distributors and retailers in Latin America, with operations in Chile, Peru, and Costa Rica. The company is recognized for its role as Hyundai's distributor in the region and for a diversified brand portfolio that includes JAC, Mahindra, JMC, Geely, Volvo, JLR and Shineray, and others in certain markets, covering new and used vehicle sales, after-sales services, spare parts, financing, and insurance products related to the automotive industry.

No Offer or Solicitation

This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote, consent or approval in any jurisdiction in connection with the  exchange offers, the consent solicitations or any of the other transactions, or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. In particular, this communication is not an offer of securities for sale into the United States. No offer of securities shall be made in the United States absent registration under the Securities Act or pursuant to an exemption from, or in a transaction not subject to, such registration requirements.

Cautionary Note Regarding Forward-Looking Statements

Certain statements made in this press release may be deemed "forward-looking statements" including any statements about the proposed exchange offers and consent solicitations. Any statements that are not statements of historical fact should be considered forward-looking statements. These forward-looking statements generally are identified by the words such as "believe", "could", "may", "will", "anticipate", "plan", "expect", "intend", "target", "estimate", "project", "potential", "predict", "forecast", "guideline", "should" or similar expressions, may be forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. As with the forward-looking statements included in this press release, these forward-looking statements are by nature inherently uncertain, and actual results may differ materially as a result of many factors, including but not limited to, the adverse impact of failing to consummate the contemplated transactions on our financial condition, business and prospects, the risk that an insufficient number of holders of the Existing Notes participate in the exchange offers and tender their Existing Notes, the risk that the exchange offers are not consummated on the terms we anticipate or at all, and diversion of our management's attention away from our business in connection with the transactions described herein. All forward-looking statements are based upon information available to Gildemeister on the date of this press release. Gildemeister undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Any forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements. Gildemeister may not succeed in addressing these and other risks.

Bondholder Contact:

Bondholders who have questions concerning the exchange offers and the consent solicitations may contact S&P Global (the information agent for the exchange offers) via email at [email protected], with a reference to "Automotores Gildemeister" in the subject line, or by phone at (212) 849-3880 (banks and brokers) or (888) 593-9546 (toll-free).

Media Contact:

Magdalena Echeverría

Proyecta Comunicaciones

Email: [email protected]

Phone: +569 8839 1056

SOURCE Automotores Gildemeister SpA