DGAP-News: SINGULUS TECHNOLOGIES Temporarily Reduces Business Operations and Agrees Short-Time Work

Press release

SINGULUS TECHNOLOGIES Temporarily Reduces Business Operations and Agrees Short-Time Work

- COVID-19 pandemic results in short-time work at SINGULUS TECHNOLOGIES

- SINGULUS TECHNOLOGIES implements further measures against the spread of the SARS-COV-2 virus

- Supervisory Board, Executive Board and management waive
20 % of fixed compensation for three months

- Continuation of essential activities for selected customer projects, sales & marketing as well as services

Kahl am Main, March 27, 2020 - Against the background of the spreading of the SARS-COV-2 virus and the resulting restrictions in private and business lives, not all of the workflows at the German sites of SINGULUS TECHNOLOGIES are currently economically viable. In order to follow the decreed and recommended measures of the German government and the European Commission to prevent the spread of COVID-19, the company's management and the workers' council agreed to implement short-work at the two German sites in Kahl am Main and in Fürstenfeldbruck for the majority of the staff from April 1, 2020.

The work and the most important customer projects, the sales & marketing activities as well as the customer services are continued, amongst others through the commitment and the extensive mobile work efforts of the relevant employees from their home office.

With this, SINGULUS TECHNOLOGIES makes an important contribution to protect its employees, to break the chain of infection and to slow down the spread of the pandemic.

Dr.-Ing. Stefan Rinck, Chief Executive Officer of the SINGULUS TECHNOLOGIES AG, remarks: "The health and safety of our employees as well as the protection of our business partners have the highest priority for us. The execution of the precautionary measures to safeguard high hygienic standards and to prevent non-essential social contact was quickly implemented within the company. At the same time, we will continue to service and attend to our customers in these difficult times as well."

Dr. Rinck continues: "As a sign of solidarity to the entire staff, the Executive Board and the management have agreed to waive twenty percent of their monthly fixed salaries for three months. The Supervisory Board has also made an identical resolution with regards to its remuneration."

As of today, the completion of the existing large orders and the forecasts with respect to the financial targets of the company for the current business year remain unaffected by these decisions.

SINGULUS TECHNOLOGIES
Innovations for new technologies
SINGULUS TECHNOLOGIES develops and assembles innovative machines and systems for efficient and resource-saving production processes, which are used worldwide in the solar, semiconductor, medical technology as well as consumer goods and data storage sectors.

SINGULUS TECHNOLOGIES AG, Hanauer Landstrasse 103,
D-63796 Kahl/Main, WKN A1681X / ISIN DE000A1681X5
Contact:
Maren Schuster, Investor Relations, Tel.: + 49 (0) 160 9609 0279
Bernhard Krause, Corporate Communications, Tel.: + 49 (0) 1728332224
Email: bernhard.krause@singulus.de