Carel Industries

Pre-Annual General Meeting Information • Mar 23, 2022

CAREL INDUSTRIES SpA

Registered office in Brugine (PD), - Via dell'Industria, 11 Fully subscribed share capital €10,000,000 Registration number with the Padua Register of Companies: 04359090281 Websitewww.carel.com

EXTRACT FROM THE NOTICE OF CALL OF ORDINARY SHAREHOLDERS' MEETING

The Shareholders of CAREL Industries S.p.A. (the "Company") are called to the ordinary meeting to be held at the registered office in Brugine (PD), Via dell'Industria, 11, on April 22, 2022, at 10:30 a.m., in a single call, to discuss and resolve the following

Agenda

• 1. Approval of the Financial Statements at 31 December 2021 and presentation of the CAREL Group Consolidated Financial Statements at 31 December 2021. Allocation of the result for the financial year.
  2. 1.1 Approval of the Financial Statements at 31 December 2021; related and consequent resolutions;
  3. 1.2 Allocation of the result for the financial year; related and consequent resolutions.
• 1. Resolutions concerning the report on the remuneration policy and fees paid pursuant to Article 123ter of Legislative Decree 58/1998 and article 84quater of Consob Regulation no. 11971/1999.
  2. 2.1 Binding vote on the remuneration policy for the 2022 financial year set forth in the first section of the report; related and consequent resolutions;
  3. 2.2 Consultation on the second section of the report concerning remuneration paid in or relating to the 2021 financial year; related and consequent resolutions.
• 1. Proposal to authorise the purchase and disposal of treasury shares, subject to revocation of the previous authorisation approved by the Ordinary Shareholders' Meeting on April 20, 2021; related and consequent resolutions.

For information on the share capital at the date of the notice of call and detailed information and instructions on the rights that can be exercised by shareholders, including the right to attend and vote at the Shareholders' Meeting by proxy, the right to ask questions before the Shareholders' Meeting, additions to the agenda and the presentation of new proposals for resolutions on items already on the Meeting's agenda, as well as the availability of the full text of the resolution proposals, together with the explanatory reports, and the documents that will be submitted to the Shareholders' Meeting and the organisational aspects of the Shareholders' Meeting, reference should be made to the full text of the notice of call available on the Company's website at www.carel.com(ir/Shareholder's' Meeting section) and at the authorized storage mechanism "eMarket STORAGE" at . The documents relating to the Shareholders' Meeting will be published, within the terms of the law, in the same way.

It should be noted that the information contained in the notice of call - and, in particular, the date, place and/or time of the meeting, the terms for the exercise of rights by the Shareholders, the procedures for participation in the meeting and/or the procedures for holding it - may be subject to changes, amendments, updates or clarifications in view of the current COVID-19 emergency and consequent measures adopted from time to time by the competent Authorities, and

to ensure strict compliance with the fundamental principles of safety and protection of the Company's Shareholders, employees, representatives and consultants' health. Any amendment, update or clarification of the information contained in the notice of call will be promptly made available on the Company's website (www.carel.com), Investor Relations - Shareholders' Meetings section and by the other means provided for by law.

Brugine (PD), 23 March 2022

For the Board of Directors The Chairman Luigi Rossi Luciani