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Schneider Electric SE M&A Activity 2022

Nov 25, 2022

1651_iss_2022-11-25_b06c8096-3aae-40f1-9880-68950a46cd2e.pdf

M&A Activity

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Schneider Electric announces AVEVA shareholders have voted to approve proposed transaction

Rueil-Malmaison (France), November 25, 2022 - Schneider Electric, the global leader in the digital transformation of energy management and automation, today announces that AVEVA has received shareholder approval relating to Schneider Electric's firm offer, made pursuant to Rule 2.7 of the UK City Code on Takeovers and Mergers for the entire issued and to be issued share capital of AVEVA that it does not currently own, to be implemented by way of a scheme of arrangement.

The requisite majority of eligible AVEVA shareholders voted to approve the previously announced increased and final recommended cash offer of 3,225 pence per AVEVA share at the Court Meeting held today and voted to pass the special resolution to implement the scheme at the General Meeting, also held today. Subject to Court approval and the satisfaction of certain other conditions as set out in the Scheme Document, the transaction is currently expected to close in Q1 2023.

The full UK regulatory announcement made by AVEVA can be found on our website: https://www.se.com/ww/en/about-us/investor-relations/regulatory-information/overview.jsp?sdf

About Schneider Electric

Schneider's purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

www.se.com