Announcements

Dettingen/Erms, April 6, 2023 +++ he Supervisory Board of ElringKlinger AG (ISIN DE0007856023, WKN 785602) and Dr. Stefan Wolf have today agreed that Dr. Stefan Wolf will step down as Chairman of the Management Board (CEO) of ElringKlinger AG by mutual consent with effect from June 30, 2023. The Supervisory Board has initiated the search for a successor. Dr. Wolf's role will be performed by Thomas Jessulat (Chief Financial Officer) on an interim basis as Spokesperson of the Management Board.

• Purchase order covers total volume in mid-triple-digit million euro range over five year
• Supply of metallic bipolar plates for carmaker's future fuel cell system
• Production to commence in 2026
• EKPO plans substantial double-digit million euro investment

Dettingen/Erms, March 20, 2023 +++ EKPO Fuel Cell Technologies GmbH (EKPO), an entity fully consolidated within the Group of majority shareholder ElringKlinger AG (ISIN DE0007856023, WKN 785602), and operated in partnership with French automotive supplier Plastic Omnium, which holds the remaining ownership interests, secured a contract from a global automotive manufacturer to supply mass-produced bipolar plates for the carmaker's future fuel cell system. The contract covers an initial term of five years as from 2026 and a total volume in the mid-triple-digit million euro range. EKPO intends to invest a figure in the high double-digit million euro range for production at a new site.

Disclaimer
This release contains forward-looking statements. These statements are based on expectations, market evaluations and forecasts by the Management Board and on information currently available to them. In particular, the forward-looking statements shall not be interpreted as a guarantee that the future events and results to which they refer will actually materialize. Whilst the Management Board is confident that the statements as well as the opinions and expectations on which they are based are realistic, the aforementioned statements rely on assumptions that may conceivably prove to be incorrect. Future results and circumstances depend on a multitude of factors, risks and imponderables that can alter the expectations and judgments that have been expressed. These factors include, for example, changes to the general economic and business situation, variations of exchange rates and interest rates, poor acceptance of new products and services, and changes to business strategy.

Dettingen/Erms (Germany), July 8, 2022 +++ ElringKlinger AG (ISIN DE0007856023 / WKN 785602) conducted an ad hoc review of the Group's business prospects in light of the significant rise in interest rates in the second quarter of 2022. This prompted a non-cash impairment of goodwill recognized in the consolidated statement of financial position with regard to the Original Equipment segment. It amounted to EUR 86.1 million, which had an impact on the Group's earnings in the second quarter of 2022.

The adjustment of goodwill is attributable to several factors. The general increase in interest rates led to a change in the post-tax cost of capital rate used to discount goodwill to 7.40% as of June 30, 2022 (December 31, 2021: 6.99%). In addition, an increase in working capital and the direction taken by exchange rates were factors prompting an expansion in total assets at Group level. As part of the ad hoc impairment test, the recoverable amount determined in this case was below its carrying amount. This resulted in an impairment loss of EUR 86.1 million in the Original Equipment segment, which was recognized in other operating expenses in the reporting period.

Based on preliminary figures, the ElringKlinger Group generated revenues of EUR 430.6 million in the second quarter of 2022 (Q2 2021: EUR 393.6 million) and earnings before interest and taxes (EBIT) of EUR -97.0 million (Q2 2021: EUR 23.0 million). It should be noted that, in addition to the adjustment of goodwill, impairments in property, plant, and equipment also led to higher cost of sales. Excluding the aforementioned impairments, EBIT before interest and taxes came to EUR -1.6 million in the reporting quarter.

The persistently difficult economic conditions also had an impact on earnings. This was due in particular to the sharp rise in the cost of energy, raw materials, and transportation, which have been thrown into disarray by a variety of factors such as the coronavirus pandemic, the ongoing war in Ukraine, and logistical challenges. Due to this, stockpiling is also being adjusted as appropriate to ensure the availability of production materials.

From the Management Board's perspective, in addition to the impairments described above, the aforementioned macroeconomic factors will continue to impact the earnings performance of ElringKlinger AG over the year as a whole. Due to the existing risks associated with the war in Ukraine, the sharp rise in energy and commodity prices, as well as potential renewed coronavirus-related lockdowns in China and other regions, it is still not possible to reliably assess the impact on Group revenues and earnings.

The Group will publish its full financial figures for the second quarter of 2022 on August 4, 2022.

Disclaimer
This release contains forward-looking statements. These statements are based on expectations, market evaluations and forecasts by the Management Board and on information currently available to them. In particular, the forward-looking statements shall not be interpreted as a guarantee that the future events and results to which they refer will actually materialize. Whilst the Management Board is confident that the statements as well as the opinions and expectations on which they are based are realistic, the aforementioned statements rely on assumptions that may conceivably prove to be incorrect. Future results and circumstances depend on a multitude of factors, risks and imponderables that can alter the expectations and judgments that have been expressed. These factors include, for example, changes to the general economic and business situation, variations of exchange rates and interest rates, poor acceptance of new products and services, and changes to business strategy.

Dettingen/Erms (Germany), April 14, 2022 +++ Based on preliminary figures, ElringKlinger AG (ISIN DE0007856023 / WKN 785602) generated consolidated revenue of EUR 434.6 million (Q1 2021: EUR 424.1 million) and consolidated earnings before interest and taxes (EBIT) of EUR 14.1 million (Q1 2021: EUR 48.4 million) in the first quarter of 2022. This corresponds to an EBIT margin of 3.3% (Q1 2021: 11.4%). In order to counteract the effects of bottlenecks seen within global supply chains, inventory management was temporarily adjusted. As a result, operating free cash flow stood at EUR -19.8 million (Q1 2021: EUR 28.6 million).

Revenue slightly exceeded the previous year's level despite the effects of the Russia-Ukraine conflict, the volatile situation throughout the commodity markets, and persistent supply-side scarcity within the semiconductor industry. Adjusted for currency effects, revenue remained largely unchanged year on year.

Earnings, which had included the proceeds from the sale of the Austrian subsidiary in the amount of EUR 10.9 million in the buoyant first quarter of 2021, reflected above all the significant hike in the price of commodities, a trend that was exacerbated by the conflict in Ukraine.

In combination with higher energy and transport costs, these factors will, from today's perspective, also have a bearing on the Group's earnings performance in the financial year as a whole, although the extent of their impact remains uncertain and will also depend on the further course of the Russia-Ukraine conflict. In addition, the recent coronavirus lockdowns in China may have an impact on revenue and earnings.

The Group will publish its full quarterly results on May 5, 2022.

• Early extension of contract of CEO Dr. Stefan Wolf for a further four years
• Appointment of Theo Becker to the Management Board revoked as of March 31, 2022
• Dividend of EUR 0.15 proposed for the 2021 financial year
• Guidance for current financial year suspended due to highly uncertain and volatile business environment, especially as a result of the Russia-Ukraine conflict

Dettingen/Erms (Germany), March 24, 2022 +++ The Supervisory Board of ElringKlinger AG (ISIN DE 0007856023 / WKN 785602) passed several resolutions at its meeting held on March 24, 2022. In addition to resolving on personnel-related issues, it approved the dividend proposal submitted by the Management Board.

The contract of CEO Dr. Stefan Wolf was extended ahead of schedule by an additional four years until January 31, 2027. Shortly before the end of the contractual term, Dr. Wolf will have reached the age of 65. The previous contract was scheduled to expire on January 31, 2023. Dr. Wolf has been CEO of ElringKlinger AG since 2006. The resolution passed by the Supervisory Board is aimed at ensuring continuity at the helm of the Group.

At the same time, the Supervisory Board decided to remove Management Board member Theo Becker from the Management Board as of March 31, 2022, after many years of service. Theo Becker joined the company in 1994 and was appointed to the Management Board in 2006. His contract was due to expire on January 31, 2023. The other board members will assume responsibility for the duties performed by Theo Becker. In this context, Thomas Jessulat will be responsible for the Purchasing & Supply Chain Management corporate unit as well as for the Battery Technology and Drivetrain business units. The corporate units Real Estate & Facility Management, Product Risk Management, and Tooling Technology will in future form an integral part of Reiner Drews' Management Board portfolio.

The revocation of Theo Becker's appointment at this point in time is intended to provide early clarity with regard to the upcoming post-covid phase and the next stage of the transformation process that lies ahead. The Management Board will thus return to its original size of three members. To ensure a smooth transition, Reiner Drews had been appointed to the Management Board prior to the 2018 coronavirus pandemic.

In addition, the Supervisory Board approved the proposal submitted by the Management Board for the payment of a dividend of EUR 0.15 per share in respect of the 2021 financial year just ended. Both boards will submit this proposal to the Annual General Meeting, which will be held in a virtual format on May 19, 2022, against the current backdrop of the pandemic.

In addition, the Management Board again discussed the company's outlook for the current 2022 financial year. Taking into account multiple influencing factors, against the backdrop of the sharp rise in commodity, energy, and transportation costs, and in view of an expected organic increase in revenue at market level, the Group had anticipated an EBIT margin for the current 2022 financial year that was projected to be positioned slightly below the level recorded in the previous year. Due to the outbreak of the Russia-Ukraine conflict, its intensity, and the uncertainties associated with both its future course and possible global repercussions, uncertainty is extremely high. If the Russian-Ukrainian conflict continues to have a lasting impact on value chains within the automotive sector and if the dispute were to result in a significant loss in revenue contributions, it would be impossible to rule out further additional effects on earnings. Overall, the Management Board has come to the conclusion that its original expectations, which will also be presented in the Annual Report, can no longer be maintained. Therefore, at this point in time, the Group is not in a position to provide a well-founded, reliable forecast for the 2022 financial year. The Management Board of ElringKlinger AG will closely monitor further developments and provide an outlook as soon as the general political and economic situation allows.

The Group will publish its full results and annual report for the 2021 financial year on March 29, 2022.