Parrot: Horizon's takeover bid for Parrot shares

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This press release does not constitute an offer to acquire securities

PRESS RELEASE Paris, November 27, 2018, 22:30 CET

Horizon's takeover bid for Parrot shares

Parrot took note of the announcement of Horizon's project, wholly owned by Henri Seydoux and his family, and Parrot's controlling shareholder with 45.69% of its capital and 46.71% of its voting rights.1, to file a takeover bid for a price per share of 3.20 euros2.

Henri Seydoux is President and CEO of Parrot, which he founded in 1994.

Parrot will convene its Board of Directors by the end of the week to review this project and, in particular, in accordance with the regulations, appoint an independent expert to report on the financial terms of the offer.

Warning :

This press release does not constitute an offer to acquire securities. The offer will only be made in accordance with the offer documentation which will contain the complete terms and conditions of the offer. The offer documentation will be submitted to the AMF for review and the offer will only be opened after obtaining the AMF compliance decision. Any decision on the offer must be based exclusively on the information contained in the offer documentation.

This news release has been prepared for informational purposes only. The distribution of this press release, the offer and its acceptance may be the subject of specific regulations or restrictions in certain countries. The offer is not intended for persons subject to such restrictions, either directly or indirectly, and is not likely to be subject to any acceptance from a country where the offer would be subject to such restrictions. Accordingly, persons in possession of this press release are required to learn about and comply with local restrictions that may apply.

Parrot is not responsible for any violation of these restrictions by anyone.

ABOUT PARROT

Founded in 1994 by Henri Seydoux, Parrot is today the leading European drone group in this booming market. Visionary, at the forefront of innovation, Parrot is the only group to be positioned on the entire value chain, from equipment to services and software.

• • Parrot, the world's second largest consumer drone market, designs products and software that are known for their performance and ease of use.

• • Parrot also has a portfolio of companies and leading participations in professional drones, covering equipment, software and services. Expertises are mainly focused on 3 verticals: (i) Agriculture, (ii) 3D Mapping, Geomatics and Inspection, and (iii) Defense and Security.

The Parrot Group designs and develops its products in Europe, mainly in Paris, where its headquarters are located, and in Switzerland. Today, it has over 600 employees worldwide and makes the vast majority of its sales internationally. Parrot has been listed since 2006 on Euronext Paris (FR0004038263 – PARRO). For more information : www.parrot.com

CONTACTS

(1) Based on a number of 30,174,671 shares comprising the share capital of Parrot S.A. as at October 31, 2018, and 29,516,672 voting rights (excluding treasury shares and liquidity contracts).

(2) The seller would benefit from an additional price in the event that Horizon submits a takeover bid at a higher price within 6 months.