PIERER Mobility AG: Restructuring plan of KTM AG accepted by creditors

Ad hoc notification pursuant to Article 17 of Regulation (EU) No 596/2014 (MAR)

Ad hoc announcement pursuant to Art. 53 LR

Wels, February 25, 2025

PIERER Mobility AG: Restructuring plan of KTM AG accepted by creditors

• Cash quota of 30%, payable by May 23, 2025
• Liquidity of EUR 50 million secured for the ramp-up of production in March 2025

KTM AG, a wholly owned subsidiary of PIERER Mobility AG, applied for court restructuring proceedings with self-administration on November 29, 2024. The aim of the proceedings was to agree on a restructuring plan with the creditors within 90 days.

At today's restructuring plan meeting, the creditors accepted the restructuring plan submitted by KTM AG. This plan provides for creditors to receive a cash quota of 30% of their claims in the form of a one-off payment (cash quota). In order to fulfil the quota of 30%, KTM AG must deposit an amount of EUR 548 million with the restructuring administrator by May 23, 2025 at the latest. The court will then confirm the restructuring plan at the beginning of June 2025 and the restructuring proceedings of KTM AG will end once it becomes legally binding.   

To enable production to be ramped up again gradually from mid-March 2025, KTM AG will be provided with financial resources totaling EUR 50 million from the extended circle of shareholders. With the approval of the reorganisation plan, this amount will now be transferred to KTM AG to cover the costs of the phased resumption of production in March 2025. The planned full capacity utilisation of the four production lines in single-shift operation is to be achieved within three months.

Legal Notice

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE OR A SOLICITATION OF AN OFFER TO PURCHASE SECURITIES OF PIERER MOBILITY AG. IT IS NOT FOR DISTRIBUTION, TRANSMISSION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.

For further information:

Investor Relations

Hans Lang & Melinda Busáné Bellér

Tel: +43 676 4140945 or +43 676 4093711

Email: ir@pierermobility.com

Website: https://www.pierermobility.com

ISIN: AT0000KTMI02; Swiss Valor Number (Switzerland): 41860974; Ticker Symbol: PKTM; Bloomberg: PKTM SW, PKTM AV; Reuters: PKTM.S, PKTM.VI