Elmos Semiconductor SE: Regulatory approvals granted for the sale of the Dortmund wafer fab to Littelfuse

Dortmund, August 8, 2023: The German Federal Ministry for Economic Affairs and Climate Action (BMWK) granted the approval under foreign trade law for the sale of the wafer fab, located in Dortmund, Germany (“fab”) from Elmos Semiconductor SE (FSE: ELG, “Elmos”) to Littelfuse, Inc., USA (NASDAQ: LFUS, ”Littelfuse”), a diversified, industrial technology manufacturing company, without conditions.

On June 28, 2023, Elmos and Littelfuse signed a purchase agreement for the sale of the Dortmund fab for a net purchase price of approximately 93 million Euro. The antitrust clearance was already granted by the German Federal Cartel Office (Bundeskartellamt) on July 27, 2023 without any conditions.

With the foreign trade clearance, the regulatory requirements for the closing of the transaction have been met and the buyer will make a payment to Elmos in the amount of approximately 37 million Euro. The remainder of the purchase price will be due at the closing of the transaction, which is expected to be effective December 31, 2024.

Under the agreement, Littelfuse will acquire the Dortmund wafer fab with approximately 225 employees. All other activities, including testing operations, will remain with Elmos. In addition, Elmos and Littelfuse have agreed to enter into a defined multi-year capacity sharing arrangement with an initial term lasting through 2029, with Elmos buying defined volumes of wafers produced at the fab. This long-term agreement supplements the existing supply arrangements with Elmos’ other foundry partners and ensures that Elmos has the necessary capacities to meet projected customer demand.

In the course of this M&A transaction, Elmos was advised by ATREG, Inc., specializing in the sale of high-tech infrastructures, and by the law firm Allen & Overy.

Contact
Elmos Semiconductor SE
Ralf Hoppe, Head of Investor Relations, Public Relations & ESG
Phone: +49-231‐7549‐7000
Email: invest@elmos.com

About Elmos
Elmos develops, produces and markets semiconductors, primarily for use in the automotive industry. Our components communicate, measure, regulate and control safety, comfort, powertrain and network functions. For 40 years, Elmos innovations have been bringing new functions to life and making mobility worldwide safer, more comfortable and more energy efficient. With our solutions we are already the worldwide #1 in applications with great future potential, such as ultrasonic distance measurement, ambient and rear light as well as intuitive HMI.

Note
This release contains forward-looking statements that are based on assumptions and estimates made by the Elmos management. Even though we assume the underlying expectations of the forward-looking statements to be realistic, we cannot guarantee the expectations will prove right. The assumptions may carry risks and uncertainties, and as a result actual events may differ materially from the forward-looking statements. Among the factors that could cause such differences are changes in general economic and business conditions, fluctuations of exchange rates and interest rates, the introduction of competing products, lack of acceptance of new products, and changes in business strategy. Elmos neither intends nor assumes any obligation to update its statements with respect to future events.