Mutares SE & Co. KGaA

M&A Activity • Jul 19, 2022

Eighth Acquisition in 2022: Mutares acquires Sirti Energia from Sirti Group, ultimately controlled by Pillarstone and KKR

• Add-on acquisition to Mutares portfolio company EXI S.p.A.
• Strengthening the presence in the Energy Infrastructure market
• Significant cost synergies and improvement in projects execution expected with EXI
• Annual revenues of Sirti Energia S.p.A. of approx. EUR 60 million

Munich, 19 July 2022 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire Sirti Energia S.p.A. from Sirti S.p.A. ultimately controlled by Pillarstone and KKR as an add-on acquisition to EXI. The closing of the transaction and the consequent rebranding is expected for the third quarter of 2022 and is still subject to certain customary market conditions precedent and regulatory clearance.

Sirti Energia is headquartered in Milan and is amongst the Italian leaders in the Construction and Maintenance ("C&M") services in the Energy Infrastructure market. The company has a well-known established brand and customer base and specializes in the design, construction and maintenance of underground and aerial power transmission and distribution grids. It furthermore operates in the Renewables and E-Mobility sector, employing approx. 400 people throughout Italy. The company generates around EUR 60 million in revenues.

With this add-on acquisition to EXI, the companies will create an important player for installation and maintenance services in the energy and telco sector in Italy, serving a complementary customer base with a broad range of services and combining EXI Project Management Know-how with Sirti Energia skilled workforce. Revenues synergies are also expected with Balcke-Dürr Energy Solutions, an Engineering-Procurement-Construction (EPC) service provider for energy transmission and distribution, headquartered in Genoa and recently acquired from the Toshiba Group.

"This marks the eighth acquisition in 2022 and our fourth transaction within the energy sector. Our expertise in this sector will help these newly acquired companies to benefit from each other and leverage synergies. I am confident that with the support of the Mutares team, Sirti Energia can fully exploit the growth potential triggered by the energy transition," comments Johannes Laumann, CIO of Mutares SE & Co. KGaA.

Company profile of Mutares SE & Co. KGaA

Mutares SE & Co. KGaA, Munich (www.mutares.de), as a listed private equity holding company with offices in Munich (HQ), Amsterdam, Frankfurt, Helsinki, London, Madrid, Milan, Paris, Stockholm and Vienna, acquires medium-sized companies in special situations, based in Europe, which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilization process. For the financial year 2022, consolidated revenues of at least EUR 4 billion are expected. Based on this, consolidated revenues are to be expanded to at least EUR 7 billion by 2025. As the portfolio grows, so do consulting

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revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. Accordingly, a net profit in the holding company in the range of EUR 125 million to EUR 150 million is expected for the financial year 2025. The Management Board and Supervisory Board together hold more than one third of all Mutares shares with voting rights. The shares of Mutares SE & Co. KGaA are traded on the Regulated Market of the Frankfurt Stock Exchange under the symbol "MUX" (ISIN: DE000A2NB650).

For more information, please contact:

Mutares SE & Co. KGaA Investor Relations Phone +49 89 9292 7760 E-mail: ir@mutares.de www.mutares.de

Contact Press CROSS ALLIANCE communication GmbH Susan Hoffmeister Phone +49 89 125 09 0333 E-mail: sh@crossalliance.de www.crossalliance.de

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