Mutares has successfully completed the acquisition of Toshiba Transmission & Distribution Europe S.p.A. from Toshiba Group

Add-on acquisition to Balcke-Dürr Group Engineering-Procurement-Construction service provider for energy transmission and distribution Executed projects worth over EUR 350 million in the past years New Company Name: Balcke-Dürr Energy Solutions

Munich/Milan, 22 February 2022 - Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of Toshiba Transmission & Distribution Europe S.p.A. (the "Company") from Toshiba Group as add-on for Balcke-Dürr Group. The Company and Toshiba Group will continue to work together as technological partners for the completion of existing projects and also for future business opportunities. From now on, the Company operates under the new name Balcke-Dürr Energy Solutions.

Headquartered in Genova, Italy, the Company is a renowned provider of full turnkey projects in the energy field, operating primarily in Europe and Mediterranean countries. It delivers full turnkey projects such as high voltage and medium voltage substations, battery storage systems, smart grids solutions and plants for renewable energies and executed projects worth over EUR 350 million in the past years. The add-on acquisition of the Company will enable Balcke-Dürr to enter the renewables business which is in line with Balcke-Dürr's strategy to become a sustainable solution provider.

Company profile of Mutares SE & Co. KGaA
Mutares SE & Co. KGaA, Munich (www.mutares.com), as a listed private equity holding company with offices in Munich (HQ), Amsterdam, Frankfurt, London, Madrid, Milan, Paris, Stockholm and Vienna, acquires small- and medium-sized companies and parts of groups in special situations with headquarters in Europe that show significant potential for operational improvement and are sold again after undergoing a repositioning and stabilization process. Mutares actively supports and develops its portfolio companies with its own investment and operations teams as well as through acquisitions of strategic add-ons. With a focus on sustainable growth of the portfolio companies, the objective is to achieve a significant increase in value with a ROIC (return on invested capital) of 7 to 10 times on the total investment. In the financial year 2020, Mutares generated consolidated annual revenues of around EUR 1.6 billion with more than 12,000 employees worldwide in the Group. For the financial year 2021, consolidated revenues of at least EUR 2.4 billion are already expected. Based on this, consolidated revenues are to be expanded to at least EUR 5 billion by 2023. As the portfolio grows, so do consulting revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. At this level, the medium- to long-term target for dividend-relevant net income is 1.8% to 2.2% of consolidated revenues. Mutares is strongly committed to a sustainable dividend policy consisting of a base dividend and an exit-dependent performance dividend. The shares of Mutares SE & Co. KGaA are listed on the Frankfurt Stock Exchange under the ticker symbol "MUX" (ISIN: DE000A2NB650).

For more information, please contact:

Mutares SE & Co. KGaA
Investor Relations
Phone +49 89 9292 7760
E-mail: ir@mutares.de
www.mutares.de

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