In a video game sector marked by long investment cycles and significant transformations, on 20 February 2026, Nacon announced that the situation of its majority shareholder, Bigben Interactive, which, following an unexpected and late refusal by its banking pool, was unable to make the partial repayment of its bond loan to its bondholders, was significantly affecting its own operations.

Nacon indicated on this occasion that its liquidity situation required the rapid implementation of a financial restructuring with its creditors in order to ensure the continuity of its operations, and that it was considering procedures intended to facilitate the restructuring of its debt under the supervision of the Court.

To date, Nacon reports that its available assets do not allow it to meet its due liabilities. In this context, Nacon will, as of today, file for insolvency (“déclaration de cessation des paiements”) with the Court and request the opening of judicial reorganisation proceedings (“redressement judiciaire”). The aim of this procedure is to assess all possible solutions to ensure the sustainability of Nacon's activity under the best possible conditions, protect employees, and preserve jobs, while renegotiating with its creditors in a calm and constructive framework.

This procedure will enable Nacon to continue its business, renegotiate its debts, and develop a credible and effective continuation plan.

The employee representative organisations were informed of this decision on 24 February 2026.

The Court, at a hearing expected in early March, will rule on this request to open judicial reorganisation proceedings (“redressement judiciaire”).

Pending this decision and given the uncertainties regarding the outcome of the proceedings, the suspension of Nacon's share price, announced on 20 February 2026, remains in effect.