Endor AG makes progress in reorganizing the company in terms of management
and financing

EQS-News: Endor AG / Key word(s): Miscellaneous
Endor AG makes progress in reorganizing the company in terms of management
and financing

29.06.2024 / 17:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Endor AG makes progress in reorganizing the company in terms of management
and financing

* Lending banks renew standstill agreement

  * Appointment of Andres Ruff as Chief Executive Officer and Chief
    Restructuring Officer extended

* Strategic investor provides further liquidity

Landshut, June 29, 2024 - Endor AG, a leading provider of simracing hardware
and gaming technology, has made further progress in the reorganisation of
the company. Particularly noteworthy is the extension of the standstill
agreements with the lending banks regarding the existing loans for the
duration of the StaRUG proceedings. This gives Endor the necessary room for
manoeuvre to effectively implement the ongoing restructuring measures.

In a further step, the Supervisory Board unanimously extended the term of
office of CEO and Chief Restructuring Officer (CRO) Andres Ruff, which was
originally set to expire at the end of June, until 30 September 2024.

The extension of the term of office demonstrates the confidence of the
Supervisory Board and the other stakeholders in the restructuring programme.
"I am confident that, together with our partners, we will secure the
continuation of Endor AG at the Landshut site and put the company back on a
sustainable path with structurally healthy growth," says Andres Ruff.

Furthermore, the strategic investor CORSAIR® (Nasdaq: CRSR) provided Endor
with additional liquidity totalling four million euros on Friday. The cash
injection underlines the investor's strong commitment to Endor's future. As
previously announced, it is intended that CORSAIR will fully acquire Endor
AG through a StaRUG process and provide sufficient financial resources to
stabilise the company without external debt. On the basis of the term sheet
agreed with CORSAIR, the company is continuing to pursue the restructuring
with CORSAIR.

This progress not only ensures personnel continuity and stability for Endor
AG. They also provide financial leeway to effectively implement the ongoing
restructuring measures and will make a decisive contribution to securing the
company's operational stability and driving forward the reorganisation
measures.

Matthias Kosch, CFO of Endor AG, adds: "The renewal of the standstill
agreement by the lending banks and the transfer of the next instalment from
CORSAIR are strong signs of confidence and support for the restructuring
course we have embarked on. They secure liquidity and enable the further
realisation of the restructuring of Endor group."

About Endor AG

Endor AG develops and markets high-quality input devices such as high-end
steering wheels and pedals for racing simulations on game consoles and PCs.
As a "brain factory", the company's focus is on the creative sector. Endor
carries out product development and prototype construction under its own
direction and together with specialized technology partners, primarily in
Germany ("German engineering"). Endor sells its products under the FANATEC
brand via e-commerce primarily to end customers in Europe, the USA, Canada,
Australia and Japan.

Contact:

Endor AG, Investor Relations

E-mail: investor_relations@endor.ag

Press and investor enquiries:

Jasmin Dentz, GFD Finanzkommunikation
E-mail: dentz@gfd-finanzkommunikation.de

Peter Herkenhoff, GFD Finanzkommunikation
E-mail: herkenhoff@gfd-finanzkommunikation.de

Vera Müller, Better Orange IR & HV AG
E-mail: Vera.Mueller@linkmarketservices.eu


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29.06.2024 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.

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   Language:       English
   Company:        Endor AG
                   E.ON-Allee 3
                   84036 Landshut
                   Germany
   Phone:          +49-(0)871-9221-122
   Fax:            +49-(0)871-9221-221
   E-mail:         ir@endor.ag
   Internet:       www.endor.ag
   ISIN:           DE0005491666
   WKN:            549166
   Listed:         Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Munich, Stuttgart
   EQS News ID:    1936211

End of News EQS News Service
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1936211 29.06.2024 CET/CEST