EQS-Adhoc: VARTA AG: VARTA AG announces commercial agreement on restructuring concept Page 1

Disclosure of inside information in accordance with Article 17 of Regulation (EU) No 596/2014

VARTA AG announces commercial agreement on restructuring concept

Ellwangen, August 17, 2024 – VARTA AG announces that it has today reached a commercial agreement on a restructuring concept with almost all syndicated lenders and certain promissory note providers. The restructuring concept will significantly reduce the company’s debt and provide it with new liquidity and provides for the entry of a company controlled by the company’s current indirect majority shareholder, DDr. Michael Tojner (“MT InvestCo”), and an investment company of Dr. Ing. hc F. Porsche AG (“Porsche”) as the new shareholders. The implementation of the restructuring concept will secure VARTA AG’s financing based on its current business plan until the end of 2027 and will be carried out within the framework of the notified restructuring plan under the German Company Stabilization and Restructuring Act (Unternehmensstabilisierungs- und -restrukturierungsgesetzes, StaRUG).

The restructuring concept provides for a significant reduction of the existing debt of €485 million by a total of approximately €285 million to approximately €200 million by means of a haircut and an extension of the remaining loan obligations until 31 December 2027. In addition, in order to cover the liquidity requirements, a new senior loan (super senior) of €60 million with a maturity until 31 December 2027 (“New Funds”) is planned, which can be provided in accordance with the commercial agreement by those of the existing lenders (syndicated lenders and promissory note lenders), who agree to the restructuring plan, pro rata to their existing loan obligations. The provision of the New Funds is fully guaranteed by certain existing lenders by means of a so-called backstop. In this context, an exception to the debt reduction (the so-called “increase”) for existing loans and promissory notes in the amount of the provision of New Funds will be made for those lenders participating in such provision of New Funds. In addition, it is intended that all lenders participating in the provision of New Funds (“Super Senior Lenders”) will receive a virtual participation in VARTA AG in the form of a value recovery instrument, which represents a significant participation in the economic equity of the Company. All other lenders will receive a creditor warrant (Besserungsschein), which allows them to participate in the positive development of the Company if certain EBITDA figures are exceeded.

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