PWO AG continues growth

EQS-News: PWO AG / Key word(s): Expansion/Strategic Company Decision
PWO AG continues growth

28.05.2024 / 16:07 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Press release

PWO AG continues growth

Carlo Lazzarini (CEO): 'The PWO Group's momentum continues unabated: With
our new site in Serbia, we are once again strengthening our market
position.'

* Groundbreaking ceremony for new engineering and production site

* First series production scheduled for end of 2025

* Several series orders already won for the new site

Oberkirch, May 28, 2024 - In the presence of Serbian President Aleksandar
Vui, Ms. Konrad, German ambassador to Serbia, and the Mayor of the central
Serbian city of aak, Milun Todorovi, the PWO Group today celebrated the
laying of the foundation stone for its new engineering and production site,
which will form a technology cluster with the tooling company acquired in
Serbia in 2023.

By the end of 2025, the first components and systems manufactured here will
be delivered to customers from the PWO Group's tenth location.

For Carlo Lazzarini, CEO of the PWO Group, Serbia is a winner in the ongoing
reorganization of the European mobility industry. 'We believe in this
location, as do many of our customers who have been engineering and
producing here for several years.'

Numerous renowned European and international companies, also from the
mobility industry, have established engineering and production facilities in
Serbia in recent years. German companies alone currently employ several
thousand people. While initially it was mainly labor-intensive production
that was relocated to Serbia, companies are increasingly locating parts of
their engineering and development in Serbia in addition to their production.
This means that the country will also play an important role in shaping the
mobility of the future.

The volume of inquiries PWO regularly receives from Eastern Europe is
steadily increasing. Our locations in the Czech Republic will not be able to
handle this volume in the future - despite the use of existing expansion
options. That is why we needed another site in Eastern Europe.

The 100,000-square-meter plot in aak, which we acquired last year, will
create more than 500 attractive jobs in the coming years. As a global
company, we can also offer our future employees international prospects for
their personal and professional development.

We also want to contribute to the development of the town of aak, for
example by seeking partnerships with local schools and colleges, and by
working with local companies and suppliers.

And it goes without saying that this new PWO Group site will operate with
the smallest possible carbon footprint from the very beginning.

PWO AG

The Executive Board

Contact:
Charlotte Frenzel
Investor Relations & Corporate Communications

T. +49 179 / 6904 237
M. charlotte.frenzel.ext.ma@pwo-group.com

PWO Group: Pushing boundaries in lightweight metal solutions

2,000 PRODUCT SOLUTIONS | 3,000 EMPLOYEES | 9 LOCATIONS | OVER 100 YEARS OF
EXPERIENCE

We are a global company in the mobility industry that is helping to shape
the environmentally friendly mobility of the future through innovations and
is entirely independent of combustion engines.

With our expertise in climate-friendly lightweight construction, we are
technology leaders and combine economic efficiency with sustainability. We
develop and produce sophisticated metal components and complex subsystems at
the frontiers of what is technologically feasible. We meet the challenges of
our time with innovative and sustainable concepts. And above all, we aim to
seize the opportunities they offer.

As a values-based employer with informal structures at a global level, we
offer our employees a meaningful environment for realizing their personal
prospects. Transparent and responsible corporate governance is an integral
part of our self-image.

Our corporate strategy is summed up in the slogan PEOPLE. PLANET. PROGRESS.


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28.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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The issuer is solely responsible for the content of this announcement.

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   Language:       English
   Company:        PWO AG
                   Industriestraße 8
                   77704 Oberkirch
                   Germany
   Phone:          +49 (0)7802 84-844
   Fax:            +49 (0)7802 84-789
   E-mail:         ir@pwo-group.com
   Internet:       www.pwo-group.com
   ISIN:           DE0006968001
   WKN:            696800
   Listed:         Regulated Market in Frankfurt (Prime Standard),
                   Stuttgart; Regulated Unofficial Market in Berlin,
                   Dusseldorf, Hamburg, Munich, Tradegate Exchange
   EQS News ID:    1912919

End of News EQS News Service
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1912919 28.05.2024 CET/CEST