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Corticeira Amorim M&A Activity 2024

Dec 11, 2024

1912_iss_2024-12-11_77e6dd42-fa7c-4c91-9f20-fce8f9a7ecfc.pdf

M&A Activity

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Corticeira Amorim

Disclosure of significantinformation

Mozelos, Portugal, 11 December2024

CORTICEIRA AMORIM, S.G.PS., S.A. ("CORTICEIRA AMORIM") informs the public and its shareholders of the following:

1. 1. Amorim Cork Flooring, S.A. ("ACF"), a subsidiary of CORTICEIRA AMORIM, announced that it sold its entire net stake (representing 80%) in the share capital of Timberman Denmark A/S (Hadsund, Denmark) – which in turn holds the entire share capital of the Swedish company Timberman Golv AB (formerly Amorim Cork Sweden AB) – to the Salix group, which is part of the Swedish industrial conglomerate Volati, listed on Nasdaq Stockholm, for an amount of 23,7 million euros.
1. Timberman Denmark A/S and Amorim Cork Sweden AB are companies distributing vinyl, cork and wood floor coverings, with ACF entering the share capital of the former in 2011 and the latter in 2017.
1. In 2024, Timberman Denmark A/S and Amorim Cork Sweden AB achieved a consolidated revenue of thirty-six million euros in the markets of Denmark and Sweden.
1. Timberman Denmark A/S and Amorim Cork Sweden AB will remain distributors of ACF's flooring products in the Danish and Swedish markets, in line with their new strategy to change the distribution model, in some markets, from a branch-based to a distributor-based model.
1. This change occurs in parallel with the launch, in 2025, of the new unit called Amorim Cork Solutions, which will be part of the Amorim Cork Composites activity and where the flooring and insulation activities will be incorporated.

The Board of Directors

Corticeira Amorim, SGPS, S.A.

Edifício Amorim I Rua Comendador Américo Ferreira Amorim, 380 4535-186 Mozelos, Portugal

instagram: amorimcork Investor Relations Officer (IRO): Ana Negrais de Matos, CFA T: + 351227475423 F: + 351 227475407 [email protected]

Public Company Share Capital: €133,000,000.00 Tax and Commercial Registration Number: PT500077797 Commercial Registry Office of Santa Maria da Feira – Portugal