Amsterdam, December 22, 2022

Dear Npex bondholder,

On December 21, there were publications in the Financieel Dagblad and Het Parool, in which they wrote about the WHOA agreement of Wagamama. These publications can lead to unnecessary concerns or ambiguities, as the tenor of the articles is not entirely positive. In particular, the Parool headline “restaurant chain Wagamama on the verge of collapse” wrongly suggests a bleak future for our restaurants.

In response to these publications, I would like to inform you that we have good expectations that the WHOA agreement will be successful and count on broad support for the agreement. Our advisors Christiaan Mensink, Jacobine den Dolder and Pieter-Christiaan van Prooijen are preparing a thorough agreement, in which the interests of all creditors are carefully taken into account, including yours as an Npex bond holder. As a bondholder, we will ask you for a discount on your claim, but not in the order of magnitude as the publications suggest. As you can read in the aspects request, at the current state of affairs - but still depending on the court's answers to questions we have asked - a distribution of around 65% can be made on the bonds.

Unfortunately, it was necessary to take an intermediate step in the conclusion of the agreement. In a so-called aspect request, questions are asked to the court to ensure that the choices in the agreement comply with all regulations. The agreement (provided with a detailed explanation) will then be submitted to a vote by all creditors, including you as a bondholder, after which we will ask the court for ratification (homologation).

After this ratification, Wagamama can continue with the retention of all restaurants and all employees, with a healthy balance sheet, and in good harmony with all stakeholders, including you as an Npex bond holder.

We hope that, despite the publications, you can maintain confidence in the successful outcome and we look forward to the agreement being approved.

If there are any interim developments, we will keep you informed.

Yours faithfully,

Arjen Schrama

Director