EuroGroup Laminations S p A : completes the acquisition of a 40% stake, and control, of Kumar Precision Stamping Private Limited

PRESS RELEASE

EUROGROUP LAMINATIONS COMPLETES THE ACQUISITION OF A 40% STAKE, AND CONTROL, OF KUMAR PRECISION STAMPINGS PRIVATE LIMITED

The strategic transaction aims to strengthen the company's presence in Asia by accelerating the growth of the Industrial business in the promising Indian market

Baranzate (MI), November 14th, 2024 - EuroGroup Laminations S.p.A. ("EuroGroup", "EGLA" or the "Company") announces that it has completed today the closing of the acquisition of 40% of the share capital of Kumar Precision Stampings Private Limited ("Kumar"), one of India's leading local players in the production and distribution of stators and rotors for electric motors for various industrial and domestic applications (including HVAC, railway, home appliances, pumps and generators), in execution of the investment agreement signed and announced to the market on August 1st, 2024.

The transaction represents a significant step in EGLA's growth strategy in Asia, where EuroGroup aims to further expand and consolidate the positioning of its Industrial business unit, already established globally. India, in particular, is recognized as a strategic, fast-growing market with substantial development opportunities. In fact, the transaction will also enable the Company to enter the rapidly expanding transformer sector, driven by the growing demands - particularly in India - in key areas of electrification.

The total investment, amounting to 19.9 million euros, involved the purchase of a portion of shares held by Kumar shareholders for 13.9 million euros and a simultaneous capital increase of 6 million euros.

The purchase price was fully financed using EGLA's available cash resources and is not subject to any adjustment. A shareholders' agreement relating to the governance of Kumar was also signed today, which provides EGLA with the control of Kumar and allows its full consolidation in EGLA's financial statements as of this month.

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This press release may contain forward-looking information, including references that are not exclusively related to historical data or current events and are therefore inherently uncertain. Forward-looking information is based on various

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assumptions, expectations, projections, and forecasts regarding future events and is subject to numerous uncertainties and other factors beyond EuroGroup's control. Many factors may cause results and trends to differ significantly from the implicit or explicit content of forward-looking information; as such, this information should not be considered a reliable indicator of future performance. EuroGroup assumes no obligation to publicly update or revise forward-looking information due to new information, future events, or for any other reason, except as required by applicable law.

FOR FURTHER INFORMATION

EUROGROUP LAMINATIONS - INVESTOR RELATIONS

Matteo Perna | Group CFO & Investor Relator| [email protected]

PRESS OFFICE | COMMUNITY - COMMUNICATION ADVISORS

Giulia Polvara | [email protected] | T. +39 334 2823 514 Valeria Longo | [email protected] | T. +39 351 1410 677

ABOUT EGLA

EuroGroup Laminations is a world leader in the design, production and distribution of the motor core (stators and rotors) for electric motors and generators. The Group's business is organized along two segments: (i) EV & AUTOMOTIVE, which designs and produces the motor core of electric motors used in electric vehicle traction, as well as a wide range of non-traction automotive applications; and (ii) INDUSTRIAL, which designs and manufactures products used in various applications including among others industrial applications, home automation, HVAC equipment, wind energy, logistics and pumps. With registered office in Baranzate (MI), EuroGroup Laminations recorded revenues of approximately € 836 million in 2023, currently has a workforce of approximately 3,000 employees, 10 production plants in Italy and 6 abroad (2 in Mexico, 2 in China, 1 in the United States, 1 in Tunisia) and an Order Book for the EV & AUTOMOTIVE segment with an estimated value of approximately € 6.1 billion, and a pipeline of orders under discussion at approximately €5.5 billion.

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