Carel Industries

Report Publication Announcement • Mar 27, 2020

Informazione Regolamentata n. 2092-18-2020		Data/Ora Ricezione 27 Marzo 2020 19:34:15	MTA - Star
Societa'	:	CAREL INDUSTRIES S.P.A.
Identificativo Informazione Regolamentata	:	129745
Nome utilizzatore	:	CARELINDUSN03 - Grosso
Tipologia	:	REGEM
Data/Ora Ricezione	:	27 Marzo 2020 19:34:15
Data/Ora Inizio Diffusione presunta	:	27 Marzo 2020 19:34:16
Oggetto	:	CAREL - Notice ìo filing of the draft of the Annual Report 2019
Testo del comunicato

Vedi allegato.

Press Release

Documents available to the public for the General Shareholders' meeting called for 20th of April 2020.

Brugine, 27 March 2020

Filing of the Annual Report 2019 and other documents

The Company announces that, today the following documents has been made available to the public on the website - www.carel.com, in the "Investor Relations/Shareholders' meetings" section:

• 2019 Annual Report, including the draft of the separated and consolidate financial statements as of 31 December 2019, together with the Directors' Report and the required certifications, the Board of Statutory Auditors' Report and the External Audit Firm's Report.
• The 2019 Sustainability Report
• The Report on Corporate Governance and Onwership Structure pursuant to art. 123-bis of the consolidated law on finance (TUF)
• The Report on the remuneration policy and on compensation paid pursuant to article 123-ter of the consolidated law on finance (TUF)

These documents are also available at the registered office of the Company and at the authorized storage system eMarket Storage,

Please, be also informed that the summary statements of the key data of the last financial statements of the subsidiary and associated companies provided for by the art. 2429 of the civil code are available to the public at the registered office of the Company.

Methods of participating to the shareholders' meeting - Obligation of conferring a proxy to the Designated Representative

Pursuant to the recent provisions regarding the conduct of Shareholders' Meetings of listed companies (Law Decree no. 18 of 17 March 2020, art. 106) please note that CAREL Industries S.p.A. announced that the participation of the shareholders to the ordinary Shareholders' Meeting called for 20 April 2020, at 11:00 am, in a single call, will only be possible by proxy conferred to the Designated Representative, identified, pursuant to article 135-undecies of the Consolidated Law on Finance (TUF) and to art. 10 of the Articles of Association, as Spafid S.p.A. The physical participation or the participation through remote connection systems of individual shareholders is therefore excluded.

Instructions for granting this proxy free of charge are available on the website www.carel.com, in the "Investor Relations/ Shareholders' Meetings" section.

For further information

INVESTOR RELATIONS MEDIA RELATIONS

Giampiero Grosso - Investor Relations Manager Barabino & Partners giampiero.grosso@carel.com Fabrizio Grassi +39 049 9731961 f.grassi@barabino.it

+39 392 73 92 125 Francesco Faenza f.faenza@barabino.it +39 02 72 02 35 35

CAREL

The CAREL Group is a leader in the design, production and global marketing of technologically advanced components and solutions for excellent energy efficiency in the control and regulation of heating, ventilation and air conditioning ("HVAC") and refrigeration equipment and systems. CAREL is focused on several vertical niche markets with extremely specific needs, catered for with dedicated solutions developed comprehensively for these requirements, as opposed to mass markets.

The Group designs, produces and markets hardware, software and algorithm solutions aimed at both improving the performance of the units and systems they are intended for and for energy saving, with a globally recognised brand in the HVAC and refrigeration markets (collectively, "HVAC/R") in which it operates and, in the opinion of the Company management, with a distinctive position in the relevant niches in those markets.

HVAC is the main Group market, representing 66% of the Group's revenues in the financial year ended 31 December 2019, while the refrigeration market accounted for 33% of the Group's revenues.

The Group commits significant resources to research and development, an area which plays a strategic role in helping it maintain its leadership position in the reference HVAC/R market niches, with special attention focused on energy efficiency, the reduction of the impact on the environment, trends relating to the use of natural refrigerant gases, automation and remote connectivity (the Internet of Things), and the development of data driven solutions and services.

The Group operates through 24 subsidiaries and nine production plants located in various countries. As of 31 December 2019, approximately 80% of the Group's revenue was generated outside of Italy and 30% outside EMEA (Eruope, Middle East, Africa).

Original Equipment Manufacturers or OEMs – suppliers of complete units for applications in the HVAC/R markets – make up the main category of the Company's customers, on which the Group focuses to build long-term relationships.

Original Equipment Manufacturers or OEMs, suppliers of complete units for applications in the HVAC/R markets, make up the main category of the Company's customers on which the Group focuses to build long-term relations.