EuroGroup Laminations S.p.A. — M&A Activity 2025

Mar 10, 2025

PRESS RELEASE

EUROGROUP LAMINATIONS CONSOLIDATES ITS PRESENCE IN CHINA BY INCREASING ITS STAKE IN EURO MISI HIGH-TECH JIAXING CO. LTD. AND EURO MISI LAMINATIONS JIAXING CO. LTD

Baranzate (MI), March 10th 2025 - EuroGroup Laminations S.p.A. ("EuroGroup," "EGLA" or the "Company") announces that today its subsidiary Euro Group Asia Limited ("EGLA Asia") signed an agreement to purchase the minority interests held by partner Marubeni-Itochu Steel Inc. ("MISI") in the joint ventures Euro Misi High-tech Jiaxing Co. Ltd. and Euro Misi Laminations Jiaxing Co. Ltd, both amounting to 31 percent of the share capital of the said companies. The transaction is aimed at consolidating the two Chinese joint ventures, with a view to strategically strengthening the Group in the region.

Under the terms of the agreements, EGLA Asia is expected to purchase from MISI stakes corresponding to 30% of the share capital of each of the two joint ventures, for a total price of RMB 100 million (equal to approx. Euro 12,7 million¹ ). The remaining 1% of the share capital of the two companies will be subject to mutual call and put options between MISI and EGLA Asia, exercisable at market values after four years from the closing of the transaction.

The transaction is expected to be completed by first half of 2025, following the fulfillment of the conditions precedent stipulated in the contractual agreements. The total outlay for the transaction will be fully financed through the use of the Group's own financial resources and will not be subject to adjustment.

Marco Arduini, Chief Executive Officer of EGLA, commented: "We are happy to have concluded this transaction, which represents an additional step in our expansion strategy in China, a key market for e-mobility and energy transition, and for the growth strategy of EGLA in the coming years. We are grateful to MISI, our valuable partner for the common journey in this market. Our partnership continues through our Lamination World Alliance, a cooperative initiative launched by EGLA and MISl in 2014 and dedicated to the joint development of the worldwide business of Non-Grain Oriented Electrical Steel Lamination for e-motors and generators".

Makoto Ishitani, President and CEO of Marubeni-Itochu Steel Inc., commented: "We have concluded this transaction based on EGLA's request to accelerate their strategy for expansion in China. The business relationship we have established with EGLA remains intact, and we are committed to further developing and strengthening this partnership through Lamination World

1 EuroGroup Laminations S.p.A.

¹ At the RMB/Euro exchange rate of 1 CNY = 0.1273 EUR, as of March 10th 2025.

Alliance, a cooperative initiative launched by MISI and EGLA in 2014 after this transaction".

FOR FURTHER INFORMATION

EUROGROUP LAMINATIONS – INVESTOR RELATIONS Ilaria Candotti | Head of Investor Relations | ir@eglagroup.com

PRESS OFFICE | COMMUNITY – COMMUNICATION ADVISORS

Giulia Polvara | giulia.polvara@community.it | T. +39 334 2823 514 Valeria Longo | valeria.longo@community.it | T. +39 351 1410 677

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ABOUT EGLA

EuroGroup Laminations is a world leader in the design, production and distribution of the motor core (stators and rotors) for electric motors and generators. The Group's business is organized along two segments: (i) EV & AUTOMOTIVE, which designs and produces the motor core of electric motors used in electric vehicle traction, as well as a wide range of non-traction automotive applications; and (ii) INDUSTRIAL, which designs and manufactures products used in various applications including among others industrial applications, home automation, HVAC equipment, wind energy, logistics and pumps. With registered office in Baranzate (MI), EuroGroup Laminations recorded revenues of approximately € 836 million in 2023, currently has a workforce of approximately 3,400 employees, 8 production plants in Italy and 7 abroad (2 in Mexico, 2 in China, 1 in the United States, 1 in India and 1 in Tunisia) and an Order Book for the EV & AUTOMOTIVE segment with an estimated value of approximately € 5.6 billion, and a pipeline of orders under discussion at approximately €5.1 billion.

2 EuroGroup Laminations S.p.A.