Merger planned between Schaeffler AG and Vitesco Technologies Group AG

Schaeffler AG announced a preliminary agreement with Vitesco Technologies Group AG regarding a provisional exchange rate of 11.4 Schaeffler shares per Vitesco share, in connection with a planned merger. The completion of this agreement is conditional on the validation of the exchange rate by a common expert and a merger auditor mandated by the courts, as well as the approval of the supervisory boards of the two companies.

The merger contract is expected to be concluded before the annual general meetings of the two companies, which must approve the merger. The merger agreement will take effect following its registration in the commercial register at the head offices of Schaeffler and Vitesco. Schaeffler will communicate relevant developments in compliance with legal requirements.

This announcement is intended to inform and constitutes neither an invitation to sell nor an offer to buy Vitesco shares. Forward-looking statements are contained in the document and are based primarily on current estimates, not guaranteeing their future accuracy.