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PRS - complementary announcement on the agreement with 1 Thing Investments, S.A. for the sale of Ramada Aços, S.A and its subsidiaries

Company: Ramada Investimentos e Indústria, S.A. Date: 2024-05-14 Language: English Register to download

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**RAMADA INVESTIMENTOS E INDÚSTRIA, S.A.** Company issuing shares admitted to trading on a regulated market Registered Office: Rua Manuel Pinto de Azevedo, 818, Oporto Share Capital: Euro 25,641,459 Registered at the Commercial Registry Office of Oporto Sole registration and tax number 508 548 527

## **COMPLEMENTARY ANNOUNCEMENT**

At the request of CMVM, and in addition to the information provided in the press release issued last May 12, RAMADA INVESTIMENTOS E INDÚSTRIA, S.A. ("**Company**") clarifies that the decision to sell the shares of Ramada Aços, S.A., taken by its Board of Directors in the exercise of the powers legally assigned to it, was based on the acceptance of a proposal that proved to be advantageous for itself and for its shareholders, not only in terms of price (which met the value benchmarks determined by the financial advisor of the Company), but also in contractual terms, having been able to contract the sale with a very significant limitation of guarantees (and corresponding responsibilities) assumed by the Company towards the buyer.

This transaction represents a cash inflow of, approximately, 71 million euros (including a distribution to be made before the conclusion of the transaction), having an implied Enterprise Value/EBITDA multiple close to 7.4x, considering the EBITDA for the 2023 financial year.

The Company further informs that the best estimate, at the present time, of the capital gain to be generated in results at the level of its consolidated financial statements, ascends, taking into account (i) the fixed price, (ii) the provisional unaudited data on the net assets of Ramada Aços, S.A. and its subsidiaries as of March 31, 2024, and (iii) the distribution to be made before the conclusion of the transaction, to around 20 million euros. Without prejudice to the above and as this is a mere estimate, which will still be validated by the auditors of the Company, it should be noted that the final generated capital gain may not correspond exactly to the value now estimated, and the final value should be announced together with the publication of the Annual Report and Accounts of the Company for the current financial year 2024, under the legally applicable terms.

Oporto, May 14, 2024

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