ElringKlinger Annual General Meeting approves unchanged dividend

EQS-News: ElringKlinger AG / Key word(s): AGM/EGM/Dividend
ElringKlinger Annual General Meeting approves unchanged dividend

16.05.2024 / 16:10 CET/CEST
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

ElringKlinger Annual General Meeting approves unchanged dividend

* Approval of unchanged dividend payment of EUR 0.15 per share

* Other proposed resolutions adopted by large majorities

  * Helmut P. Merch becomes new Chairman of the Supervisory Board of
    ElringKlinger AG

* Ludger Heuberg newly elected to the Supervisory Board

  * CEO Thomas Jessulat: "Against the backdrop of a challenging market
    environment, ElringKlinger has demonstrated that the Group possesses a
    robust business model in support of transformation - with a
    long-standing product portfolio as its backbone and sought-after
    solutions for electromobility, as evidenced by numerous nominations."

Dettingen/Erms (Deutschland), May 16, 2024 +++ The shareholders of
ElringKlinger AG today approved all items on the agenda by a large majority
at the 119th Annual General Meeting, which was held as a virtual event. In
total, 72.0% of voting share capital was represented at the Annual General
Meeting. The Supervisory Board and Management Board had proposed to the
Annual General Meeting that the dividend for the 2023 financial year be kept
unchanged and paid out at 15 cents per share. The AGM approved this proposal
with a large majority of 99.7%.

The other proposed resolutions put to the vote also met with broad approval
from shareholders. In addition, the Annual General Meeting approved the
actions of the Management Board and Supervisory Board with 98.0% and 96.4%
of the votes respectively and approved the compensation report and the
compensation system for the Management Board. Deloitte GmbH
Wirtschaftsprüfungsgesellschaft, Stuttgart, was again appointed as auditor
for the current financial year.

In his report, CEO Thomas Jessulat emphasized that the Group had succeeded
in putting in an encouraging overall business performance within a
challenging market environment. At the same time, he highlighted the
strategic positioning: "Our broad-based product portfolio is a key success
factor when it comes to further transformation. Our business model with the
well-established portfolio as the backbone and sought-after solutions for
electromobility is robust, also when it comes to potential differences in
the speed of transformation. With our SHAPE30 Group strategy, we are
pursuing a clear path through the far-reaching transformation of the
industry." SHAPE30 is ElringKlinger's roadmap for further transformation and
comprises five success factors with clear targets. For example, the Group
aims to achieve a revenue share of more than 50% with products for
applications beyond the combustion engine by 2030.

The CEO was confident with regard to the current financial year despite
persistently challenging economic conditions. ElringKlinger anticipates
slight organic growth in terms of revenue, while the target relating to
earnings performance is an adjusted EBIT margin of around 5%.

After Supervisory Board Chairman Klaus Eberhardt had announced in March 2024
that he would step down from his position on the Supervisory Board of
ElringKlinger AG, Ludger Heuberg was elected as a new member of the
Supervisory Board as proposed by the Annual General Meeting. Ludger Heuberg,
born in 1958, most recently spent 10 years as sole General Manager of the
holding company and CFO of the ARVOS Group, a global industrial plant
manufacturer, where he was responsible for IT, HR, communications, and
internal auditing, in addition to finance.

Klaus Eberhardt will be succeeded as Chairman of the Supervisory Board of
ElringKlinger AG by the former Chairman of the Audit Committee, Helmut P.
Merch. The 68-year-old business graduate was elected as the new Chairman of
the Supervisory Board as part of a meeting held subsequent to the Group's
Annual General Meeting today.

Asked to comment on this, Helmut P. Merch emphasized, "I am greatly honored
by the appointment as Chairman of the Supervisory Board and the trust placed
in me as a result. I look forward to continuing my good and constructive
partnership with my colleagues on the Supervisory Board and with the
ElringKlinger Management Board. My special thanks go to Klaus Eberhardt,
whose many years of service on the Supervisory Board and as its Chairman
have contributed to the development of the Group and played a key role with
regard to ElringKlinger's current positioning. ElringKlinger is in a very
good position to help shape the mobility of the future. I am confident that,
on this basis, we will successfully continue on our chosen path towards the
necessary transformation."

A detailed overview of the individual voting results as well as the speech
by the CEO can be found on the ElringKlinger AG website
(www.elringklinger.de) in the Investor Relations section under "Annual
General Meeting".

For further information, please contact:
ElringKlinger AG | Strategic Communications
Dr. Jens Winter
Fon: +49 7123 724-88335 | E-Mail: jens.winter@elringklinger.com

About ElringKlinger AG

As an independent supplier operating worldwide, the ElringKlinger Group has
established itself as a powerful and trusted partner to the automotive
industry - acknowledged for its exceptional depth of expertise.

Our product portfolio encompasses innovative solutions for passenger cars
and commercial vehicles powered by electric motors, hybrid technology, or
combustion engines. Alongside the powertrain, other areas of application
include the underbody, chassis, braking system, interior, and vehicle body.
We were among the frontrunners when it came to positioning ourselves as a
specialist in the field of e-mobility - with pioneering battery and fuel
cell technology, electric drive units, and associated components and
assemblies, such as plastic housings, and punched and formed metal parts.

Customized lightweight components engineered by ElringKlinger can be used
throughout the entire vehicle; they deliver tangible benefits in terms of
weight reduction, efficiency, and functional integration, especially in
e-mobility applications.

We offer specifically adapted sealing systems, thermal, and acoustic
shielding parts, and dynamic drive components for a wide range of
applications and for any type of drive technology. Additionally, we serve
the aftermarket in more than 140 countries with an extensive range of spare
parts.

This is complemented by state-of-the-art tooling technology and products
made from high-performance plastics - tailored to the requirements of the
automotive industry and other sectors. Building on our excellence in the
field of components and systems, we are also maintaining our forward
momentum in the non-automotive sector.

These efforts are supported by a dedicated workforce of around 9,600 people
employed within the ElringKlinger Group. Operating at more than 40 sites
worldwide, ElringKlinger has established a global presence and is closely
aligned with its customers in all major automotive regions.


---------------------------------------------------------------------------

16.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

---------------------------------------------------------------------------

   Language:       English
   Company:        ElringKlinger AG
                   Max-Eyth-Straße 2
                   72581 Dettingen/Erms
                   Germany
   Phone:          071 23 / 724-0
   Fax:            071 23 / 724-9006
   E-mail:         jens.winter@elringklinger.com
   Internet:       www.elringklinger.de
   ISIN:           DE0007856023
   WKN:            785602
   Listed:         Regulated Market in Frankfurt (Prime Standard),
                   Stuttgart; Regulated Unofficial Market in Berlin,
                   Dusseldorf, Hamburg, Hanover, Munich, Tradegate
                   Exchange
   EQS News ID:    1905255

End of News EQS News Service
---------------------------------------------------------------------------

1905255 16.05.2024 CET/CEST