D'Ieteren Group

Regulatory Filings • Jul 9, 2021

PRESS RELEASE: ACQUISITION OF A 40% STAKE IN TVH PARTS

REGULATED INFORMATION - INSIDE INFORMATION

Friday 9 July 2021 - 8:50 am CET

D'Ieteren Group announces the acquisition of a $40\%$ stake in TVH Parts and a long-term partnership with the Thermote family

D'Ieteren Group has signed an agreement to acquire a 40% stake in TVH Parts from the Vanhalst family and agreed on a partnership with the Thermote family to support the development of the company over the long term. The agreement values the company at an enterprise value of €3,650m.

TVH Parts, headquartered in Waregem (Belgium), was created more than 50 years ago, and has become the global independent leader for aftermarket parts related to material handling, construction & industrial, and agricultural equipment. It has continuously expanded its customer proposition and geographical presence and has today 81 branches in 26 countries across all continents, fulfilling more than 17,000 orders a day thanks to its 4,500 employees. The company has built a considerable amount of data over the years which together with its exceptional logistics capabilities, unmatched product availability, and multiple efficient e-commerce platforms are at the center of its competitive positioning.

The investment in TVH Parts as a new pillar to the D'leteren Group - next to Belron, D'leteren Automotive, Moleskine and D'Ieteren Immo - underlines our commitment to invest in and support the development of companies leading their industries, that enjoy long term growth perspectives, and have highly competent management teams with the ambition to make a difference.

Nicolas D'Ieteren, Chairman of the Board of Directors of D'Ieteren Group: "I warmly applaud this new partnership between the Thermote and the D'leteren families. This acquisition is a new milestone in the long history of our Group, which illustrates our ambition to create value, through supporting innovative organizations driving change in their sector. We look forward to working with the people that make TVH Parts so unique and to draw together the promising future of the aftermarket parts business."

Francis Deprez, D'leteren Group CEO: "I'm very proud to announce the acquisition of a stake in TVH Parts, which is a global leader in the growing, resilient and critical business of machinery spare parts, whose purpose and values perfectly match those of D'leteren Group. During the acquisition process, we had the chance to interact frequently with the founding families and TVH Parts' strong management team, and we share their views regarding the tremendous prospects of the company going forward. As with all our activities, D'leteren Group is determined to support TVH Parts in its long-term development."

Dominiek Valcke, TVH Parts CEO: "I'm happy and honoured that TVH Parts can partner with D'leteren Group. In the last months and weeks, we enjoyed the constructive discussions and open dialogues with the management and founding families of D'Ieteren Group. We truly believe that the values of D'Ieteren Group and their aspiration on seeking long term growth are aligned with those of TVH Parts. We are also confident that with D'leteren Group, we will be able to successfully deliver on our purpose, which is to keep our customer and employees going and growing."

Thermote Family: "We are very grateful for having partnered with the Vanhalst family for the last fifty years and we are proud of what we have built together. In D'leteren we have found a long-term partner with a strong family history and with whom we feel a cultural fit. We are looking forward for the next fifty years of sustainable growth together.'

Forward looking statements

PRESS RELEASE: ACQUISITION OF A 40% STAKE IN TVH PARTS

REGULATED INFORMATION - INSIDE INFORMATION

Friday 9 July 2021 - 8:50 am CET

D'Ieteren Group profile

In existence since 1805, and across family generations, D'Ieteren Group seeks growth and value creation by pursuing a strategy on the long term for its businesses and actively encouraging and supporting them to develop their position in their industry and geographies. The Group currently owns the following activities:

• D'leteren Automotive distributes Volkswagen, Audi, SEAT, Škoda, Bentley, Lamborghini, Bugatti, and Porsche vehicles in Belgium. It has a market share of more than 23% and 1.2 million vehicles on the road. Its business model is evolving towards improving the lives of citizens with fluid, accessible and sustainable mobility. Sales and adjusted operating result reached respectively €3,216m and €98.9m in FY20.
• Belron (54.85% of the voting rights) has a clear purpose: "making a difference by solving people's problems with real care". It is the worldwide leader in vehicle glass repair and replacement and operates in 40 countries, through wholly owned businesses and franchises, with market leading brands - including Carglass®, Safelite® and Autoglass®. In addition, Belron manages vehicle glass and other insurance claims on behalf of insurance customers. Sales and adjusted operating result reached respectively €3,899m and €583.1m in FY20.
• Moleskine (100% owned) is a premium and aspirational lifestyle brand which develops and sells iconic branded notebooks and writing, travel and reading accessories through a global multichannel platform. Sales and adjusted operating result reached respectively €102.3m and -€1.5m in FY20.
• D'leteren Immo (100%) groups together the Belgian real estate interests of D'leteren Group. It owns and manages approximately 30 properties which generated €19.5m net rental income in FY20. It also pursues investment projects and carries out studies into possible site renovations.

Financial Calendar

Last five press releases (with the exception of press releases related to the repurchase or sale of own shares)		Next events
27 May 2021	Trading update - Solid Q1-21 trends drive outlook upgrade	1 September 2021	2021 Half-Year Results
21 April 2021	Publication of the Annual Report 2020
1 April 2021	Belron successfully allocated its new term loans
22 March 2021	Belron launches new loan
8 March 2021	2020 Full-Year Results

Contacts

Francis Deprez, Chief Executive Officer Arnaud Laviolette, Chief Financial Officer

Stéphanie Voisin, Investor Relations - Tel: + 32 (0)2 536.54.39 E-mail: financial.communication@dieterengroup.com - Website: www.dieterengroup.com