Brdr. Hartmann — M&A Activity 2023

Oct 12, 2023

Head Office Company announcement no. 18/2023

Head Office

Head Office

Head Office

Head Office Gentofte, 12 October 2023

Head Office Thornico acquires approx. 10% of the shares of Hartmann and intends to increase its offer to the other shareholders to DKK 360 per share

Head Office With reference to company announcement no. 16/2023 containing the notice convening an extraordinary general meeting of Brødrene Hartmann A/S ("Hartmann") on 16 October, 2023 upon request from the majority shareholder, Thornico Food & Food Technology Group A/S (ultimately controlled by Thornico Holding A/S) ("Thornico"), proposing a delisting of the company's shares from trading and official listing on Nasdaq Copenhagen, Hartmann's board of directors has today received the following information from Thornico:

• Thornico has today entered into an agreement with Handelsbanken, VN Capital, Aktia and Abaco Capital to purchase a holding of shares and voting rights in Hartmann corresponding to approx. 10% of all shares and voting rights. The shares have been acquired at a price of DKK 360 per share. Upon completion of the purchase, Thornico will hold approx. 80% of all shares and voting rights in Hartmann.
• As part of the agreement, the selling shareholders have agreed to vote in favour of the proposal to delist the company's shares prior to the sale of the shares to Thornico.
• The extraordinary general meeting will still be held on Monday 16 October, 2023 at 3 pm CEST.
• Subject to approval at the extraordinary general meeting and Nasdaq Copenhagen's approval of delisting the shares, Thornico has stated its intention to offer purchasing all shares from the other shareholders at a price of DKK 360 per share with a nominal value of DKK 20.

Shareholders who have submitted a proxy may change it through their bank. Shareholders who have already submitted an advance vote cannot revoke or change their vote.

The parties involved in the transaction have requested Hartmann to attach the press release to this company announcement.

Please refer to the company announcement no. 16/2023 for further information regarding the extraordinary general meeting.

Brødrene Hartmann A/S

Chairman of the board CEO

Henrik Marinus Pedersen Torben Rosenkrantz-Theil