Electrolux — M&A Activity 2023

Dec 22, 2023

Electrolux Group has divested its factory in Memphis, Tennessee, USA, for a cash consideration of USD 35m (approx. SEK 350m).

The gain of approximately USD 25m (approx. SEK 250m) from the divestment will be recorded as a non-recurring item, positively impacting the operating income in business area North America during the fourth quarter of 2023.

The divestment follows a previous agreement, under which the intended buyer chose to terminate the agreement at the end of the due diligence period due to changed financial circumstances.

The divestment is part of the actions to divest non-core assets, which were communicated on July 20, 2023.

The Group's production in Memphis stopped on June 30, 2022, and the operations have been transferred to the new facility in Springfield, Tennessee.

This is information that AB Electrolux is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 16.30 CET on December 22, 2023.

Electrolux Group Press Hotline +46 8 657 65 07

Sophie Arnius Electrolux Group Investor Relations +46 70 590 80 72

S:t Göransgatan 143 105 45 Stockholm, Sweden +46 8 738 60 00 www.electroluxgroup.com Org. No.: 556009-4178