Compagnie Plastic Omnium SE

M&A Activity • Nov 23, 2021

Levallois, November 23, 2021.

PLASTIC OMNIUM AND AVL SIGN A STRATEGIC HYDROGEN PARTNERSHIP

Plastic Omnium, a leading automotive supplier and key player in the hydrogen value chain, together with AVL, the world's largest independent company for development, simulation and testing in the automotive and energy industries, have signed a partnership agreement for the development of high and medium power hydrogen systems. The new partnership will enable Plastic Omnium to accelerate the commercial rollout, as of 2022, of a range of high-performance cost-effective hydrogen systems for use in all categories of vehicles. These complete future systems will incorporate fuel cells from EKPO, a joint venture between ElringKlinger and Plastic Omnium.

The agreement will allow the partners to deliver an integrated response to the full range of market requirements, with complete systems covering all power outputs from 10 to 200 kW.

Prof. Helmut List, Chairman and CEO of AVL states: "AVL is proud to enter this partnership with Plastic Omnium with the aim to develop leading edge fuel cell systems for a wide range of vehicle applications. The two companies fit perfectly well together as AVL will bring in 20 years of experience in fuel cell development together with all necessary methods and tools, whereas Plastic Omnium has a unique track record in industrialization and automotive series production".

The partnership opens the way to commercial collaboration to provide end-to-end solutions to the fuel cell market, focused on OEMs and fleet operators. Joint marketing activities will be set up, with Plastic Omnium focusing on the fuel cell systems side and AVL on vehicle integration.

Laurent Favre, Plastic Omnium's CEO comments: "Plastic Omnium is now starting to produce its range of hydrogen solutions at scale. By pooling our expertise, this tie-up with AVL will ramp up development of a range of hydrogen solutions tailored to each segment, and help accelerate the emergence of hydrogen in the heavy and commercial vehicle segments. This partnership is another milestone in Plastic Omnium's hydrogen strategy and in our growing role in zero-emission mobility".

About Plastic Omnium

Plastic Omnium has supported change in the automotive industry for the past 75 years. As the transformation toward sustainable mobility accelerates, Plastic Omnium is leveraging its entrepreneurial spirit and innovation-led culture to design and produce complex and interactive body systems as well as systems for emission reduction and energy storage. Sustained investments in hydrogen since 2015 have developed a comprehensive range of hydrogen storage vessels, fuel cells and systems. These assets and innovations position Plastic Omnium as a partner of choice for every stakeholder in clean mobility.

With revenue of €7.7 billion, a global network of 135 plants and 25 R&D centers located close to its customers, the 31,000 women and men of Plastic Omnium are committed to meeting the challenges of net-zero mobility.

Plastic Omnium is listed on Euronext Paris, compartment A, is eligible for the Deferred Settlement Service (SRD) and is part of the SBF 120 and CAC Mid 60 indices (ISIN code: FR0000124570). www.plasticomnium.com

About AVL

With more than 11,000 employees, AVL is the world's largest independent company for development, simulation and testing in the automotive industry, and in other sectors. Drawing on its pioneering spirit, the company provides concepts, solutions and methodologies to shape future mobility trends. AVL creates innovative and affordable technologies to effectively reduce CO2 by applying a multi-energy carrier strategy for all applications – from hybrid to battery electric and fuel cell technologies. The company supports customers throughout the entire development process from the ideation phase to serial production. To accelerate the vision of smart and connected mobility AVL has established competencies in the fields of ADAS, autonomous driving and digitalization.

AVL's passion is innovation. Together with an international network of experts that extends over 26 countries and with 45 Tech- and Engineering Centers worldwide, AVL drives sustainable mobility trends for a greener future. In 2020, the company generated a turnover of 1.7 billion Euros, of which 12% are invested in R&D activities.

For more information: www.avl.com

Contacts :

Press: Myriam MALAK myriam.malak@plasticomnium.com

Investor Relations: Kathleen WANTZ-O'ROURKE investor.relations@plasticomnium.com