Mutares submits irrevocable offer to acquire Vallourec Bearing Tubes from Vallourec

Expected first acquisition in 2022 New platform acquisition with significant synergies to PrimoTECS Producer of seamless high precision tubes Revenues of EUR 50 million

Munich, 3 March 2022 - Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed a put option to acquire Vallourec Bearing Tubes ("VBT") from Vallourec. The company will strengthen the Engineering & Technology segment as a new platform investment. The closing of the transaction is expected in the second quarter of 2022 after consultation of the works councils and subject to approval of the antitrust authorities.

Vallourec Bearing Tubes is headquartered in Montbard, Burgundy in France and employs over 200 people generating approx. EUR 50 million in revenues. The company is a European leader in the manufacturing of seamless high precision steel tubes, which are produced according to the most demanding standards. VBT offers a comprehensive range of products and tailor-made dimensions to meet customer specifications. As the second largest player in the European bearing tubes market, the company supplies its products to various industries such as Bearings, Mechanical and Oil & Gas.

"With the acquisition of Vallourec Bearing Tubes, we are confirming our strong position in the French Market by securing a promising asset that, as a platform, will synergistically complement our existing portfolio, particularly with regard to PrimoTECS. We are confident that, together with the strong team on site, we will be able to unlock the company's potential and lead VBT to sustainable profitability," comments Johannes Laumann, CIO of Mutares.

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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