Leclanché SA Signs Key Partnership Agreement with Pinnacle International
Capital to Secure Expansion Funding

Leclanché SA / Key word(s): Agreement/Partnership
Leclanché SA Signs Key Partnership Agreement with Pinnacle International
Capital to Secure Expansion Funding

27-Jun-2024 / 06:55 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

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

Ad hoc announcement pursuant to Art. 53 LR

Leclanché Signs Key Partnership Agreement with Pinnacle International
Capital to Secure Expansion Funding

  * Pinnacle International Capital will fund the capacity expansion and the
    OPEX of Leclanché under the business plan for the next five years
    through the joint venture for an anticipated amount of CHF 360 million
    subject to due diligence and final engineering review

  * The partnership will see the creation of a 50-50 joint venture, with two
    2 GWh facilities being built both in Europe and the Middle East

  * Pinnacle International Capital may acquire up to 70% of Leclanché
    through a contribution in kind and an option arrangement with
    Leclanché's majority shareholder, SEF-LUX

  * The agreement is subject to the successful completion of a standard due
    diligence by Pinnacle and an exemption from the Swiss Takeover Board
    Strategic Joint Venture to enhance global production capacities

Yverdon-les-Bains, Switzerland, June 27, 2024 - Leclanché SA (SIX: LECN), a
global leader in energy storage solutions, has entered into a binding
agreement with Pinnacle International Capital, a global private equity firm
based in London, United Kingdom. This agreement establishes the creation of
a joint venture and a significant participation in the company, subject to
the completion of a standard due diligence.

Under the terms of the agreement, Pinnacle and Leclanché will establish a
joint venture company funded by Pinnacle for an amount of up to CHF 360
million and Leclanché will take a 50% stake in the joint venture company
through a contribution in kind, giving Pinnacle approximately 40% stake in
Leclanché. The CHF 360 million will be subject to the outcome of the
engineering review and the due diligence during which the final exact amount
will be determined. Pinnacle will outline the financial deployment structure
during the engineering review. Pinnacle will be granted a further option to
acquire 30% additional stake in Leclanché through an agreement with SEF Lux
(1) in the amount of up to CHF 240 million, the exact amount and percentage
will be determined during the course of the due diligence. The partnership
will be establishing two 2 GWh facilities: one in Europe at the company's
existing facilities in Germany and one in the Middle East, designed to cater
to regional battery markets.

Once implemented, this transaction will fully fund Leclanché's business plan
and expand its operations. With the growing demand for Leclanché storage
solutions, this partnership will provide a solid basis for the business to
accelerate its growth.

Mr. Pierre Blanc, CEO of Leclanché, stated: "This partnership with Pinnacle
is a pivotal step for Leclanché, providing the necessary resources and
strategic positioning to expand our footprint in Europe and the Middle East.
The new facilities will significantly increase our production capabilities
and allow us to better serve our customers. We look forward to building the
business with Pinnacle alongside our existing shareholders. It has been very
important for us to bring on board a new partner that helps the company
reach its full potential and allows us the production scale required for
profitability."

Mr. Saud Al Aiban, Founder and Managing Director of Pinnacle International
Capital stated: " We are delighted to announce the signing of this
partnership with Leclanché SA. We firmly believe in Leclanché's exceptional
potential to lead the green energy transition. This collaboration
underscores Pinnacle's commitment to advancing renewable energy solutions
and driving environmental progress. We look forward to starting our due
diligence process and working towards finalising this partnership and
contribute significantly to the global green energy transformation".

The joint venture factories operations will be managed by Leclanché's
management team under a management agreement. This strategic collaboration
will enhance Leclanché's manufacturing capacity and address the growing
demands of both European and Middle Eastern markets.

Leclanche expects implementation of this partnership agreement to take six
to nine months and will keep shareholders informed about important steps in
the process.

For more information, please contact info@leclanche.com or visit
www.leclanche.com

***

About Leclanché

Leclanché is a world leading provider of low-carbon footprint energy storage
solutions based on lithium-ion cell technology. Established in 1909 in
Yverdon-les-Bains, Switzerland, Leclanché's history and heritage is rooted
in battery and energy storage innovation. The company's Swiss culture for
precision and quality, together with its production facilities in Germany,
make Leclanché the partner of choice for companies seeking the very best in
battery performance and who are pioneering positive changes in how energy is
produced, distributed and consumed around the world. Leclanché is organised
into three business units: energy storage solutions, e-Mobility solutions
and specialty battery systems. The company currently employs over 350 people
with representative offices in eight countries around the world. Leclanché
is listed on the Swiss Stock Exchange (SIX: LECN). SIX Swiss Exchange:
ticker symbol LECN | ISIN CH 011 030 311 9

About Pinnacle International Capital

Pinnacle International Capital is a global private equity firm specialising
in real estate developments and buyout investments. Pinnacle works across
the globe in developed and emerging markets and in a variety of sectors
including energy, technology, and real estate. Pinnacle is committed to
achieving long-term sustainable growth in its investments, with a
well-established team possessing vast investment expertise and a proven
track record of identifying and capitalising on investment opportunities.
Pinnacle focuses on investments that drive innovation and growth in sectors
essential to the green energy transition, fostering a sustainable future.

Disclaimer

This press release contains certain forward-looking statements relating to
Leclanché's business, which can be identified by terminology such as
"strategic", "proposes", "to introduce", "will", "planned", "expected",
"commitment", "expects", "set", "preparing", "plans", "estimates", "aims",
"would", "potential", "awaiting", "estimated", "proposal", or similar
expressions, or by expressed or implied discussions regarding the ramp up of
Leclanché's production capacity, potential applications for existing
products, or regarding potential future revenues from any such products, or
potential future sales or earnings of Leclanché or any of its business
units. You should not place undue reliance on these statements. Such
forward-looking statements reflect the current views of Leclanché regarding
future events, and involve known and unknown risks, uncertainties and other
factors that may cause actual results to be materially different from any
future results, performance or achievements expressed or implied by such
statements. There can be no guarantee that Leclanché's products will achieve
any particular revenue levels. Nor can there be any guarantee that
Leclanché, or any of the business units, will achieve any particular
financial results.

Contacts

        Media Switzerland /Europe: Thierry      Media Germany: Christoph
     Meyer T: +41 (0) 79 785 35 81 E-mail:     Miller T: +49 (0) 711 947
               (1)tme@dynamicsgroup.ch  1.                   670 E-mail:
               mailto:tme@dynamicsgroup.ch    (1)leclanche@sympra.de  1.
                                              mailto:leclanche@sympra.de
      Investor Contacts: Pasquale Foglia /
      Pierre Blanc T: +41 (0) 24 424 65 00
                                   E-Mail:
     (1)invest.leclanche@leclanche.com  1.
     mailto:invest.leclanche@leclanche.com

(1) SEF-LUX refers to: Strategic Equity Fund; Strategic Equity Fund SCA
SICAV RAIF - Renewable Energy (RE), AM Investment S.C.A. SICAV-RAIF and AM
Investment S.C.A. SICAV - RAIF - Global Growth collectively and in aggregate
the main shareholder of Leclanché SA and referred to as "SEF-Lux"


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

End of Inside Information

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

   Language:       English
   Company:        Leclanché SA
                   Av. des Sports 42
                   1400 Yverdon-les-Bains
                   Switzerland
   Phone:          +41 (24) 424 65-00
   Fax:            +41 (24) 424 65-20
   E-mail:         investors@leclanche.com
   Internet:       www.leclanche.com
   ISIN:           CH0110303119, CH0016271550
   Valor:          A1CUUB, 812950
   Listed:         SIX Swiss Exchange
   EQS News ID:    1934173

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

1934173 27-Jun-2024 CET/CEST