Schaeffler and Vitesco Finalize Merger Agreement

Schaeffler AG and Vitesco Technologies Group AG have formally entered a merger agreement as of March 13, 2024, following green lights from their Supervisory Boards. This agreement legally solidifies the merger conditions, with Vitesco set to integrate into Schaeffler. At the heart of this merger is the confirmed exchange ratio: 11.4 Schaeffler shares for every Vitesco share. This ratio has been validated by both a joint valuation expert and a court-appointed auditor.

The merger's finalization is pending approval from the Annual General Meetings of both companies, scheduled for late April 2024, and subsequent commercial register entries. The anticipated completion quarter is Q4 of 2024. Klaus Rosenfeld, CEO of Schaeffler AG, emphasized the merger as a milestone towards creating a leading Motion Technology Company, poised to benefit customers, shareholders, and employees alike.

Shareholders will soon have access to relevant documents, such as the merger agreement and valuation reports, essential for the upcoming General Meetings. These will be available on Schaeffler's website starting March 14, 2024.