Wetteri PLC — M&A Activity 2024

Jan 2, 2024

Wetteri and Osuuskauppa Suur-Savo have implemented the transaction, business transferred to Wetteri from January 1st, 2024

Wetteri and Osuuskauppa Suur-Savo have implemented the transaction, business transferred to Wetteri from January 1st, 2024

Wetteri Plc Stock exchange release  2[nd] January 2024 15.00 EET

On October 27[th] 2023, Wetteri announced acquisition of the automotive business
of Osuuskauppa Suur-Savo, a car dealer operating in Mikkeli, Savonlinna and
Vantaa. The buyer is Wetteri Plc's subsidiary Wetteri Auto Oy. The Finnish
Competition and Consumer Authority approved the deal on December 8[th] 2023. The
deal was executed and the automotive business transferred to Wetteri on January
1[st] 2024. Purchase price of 1.0 million euros has been paid on January 2[nd]
2024. The inventory, value approx. 10 million euros, will be transferred to the
finance company for trade financing. As part of the transaction, the buyer and
seller have agreed on a separate 12-month financing agreement regarding the
stock of demonstration cars. The value of the demo car stock is approx. 3.6
million euros. Wetteri continues the automotive business operations in Mikkeli,
Savonlinna and Vantaa.

With the deal, Wetteri's geographical presence is strengthened in both eastern
and western Finland. The number of Wetteri's personnel increases by approx. 90
automotive experts.

Aarne Simula, CEO, Wetteri Oyj:

"With this transaction, Wetteri gains a solid foothold in Eastern Finland and
its position in the capital region is strengthened. This third acquisition in
its series is part of Wetteri's growth journey, which is accelerated by the
revolution in the automotive industry. With the acquisitions, we strive for
synergy benefits and efficiency, which are needed in the renewing automotive
industry."

Additional information:

Aarne Simula, CEO, Wetteri Plc

Tel. +358 400 689 613, aarne.simula@wetteri.fi

Wetteri Plc - An Entrepreneur-Driven Automotive Growth Company

Wetteri Plc is an entrepreneur-driven growth company in the automotive sector.
The company engages in the retail sales of passenger cars, commercial vehicles
and heavy vehicles, and produces maintenance and repair shop services for
vehicles, from passenger cars to heavy vehicles. Headquartered in Oulu, the
company has 40 locations in Finland. The company employs around 1000 people, of
whom nearly 70% work in maintenance and repair services. Wetteri promotes
digitalisation in the automotive sector and is an important player on the common
journey towards emission-free motoring. More information:
sijoittajat.wetteri.fi/en/