Endor AG agrees on further steps as part of exclusive negotiations with
strategic investor CORSAIR

EQS-News: Endor AG / Key word(s): Takeover/Mergers & Acquisitions
Endor AG agrees on further steps as part of exclusive negotiations with
strategic investor CORSAIR

15.05.2024 / 21:29 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Endor AG agrees on further steps as part of exclusive negotiations with
strategic investor CORSAIR

Landshut, 15 May 2024 - As part of the restructuring negotiations entered
into on 9 May 2024, the Management Board of Endor AG has agreed on concrete
steps with CORSAIR® (Nasdaq: CRSR) with the approval of the lending banks
and the Supervisory Board.

As a first step, CORSAIR will provide interim financing, which will be made
available in tranches in the short term in line with the company's maturity
profile.

"During the exclusive negotiations, we perceived CORSAIR as a reliable
partner that not only has the financial resources, but also knows our market
well and wants to invest for the long term," says Andres Ruff, CEO and Chief
Restructuring Officer of Endor AG. "Following a comprehensive review, the
lending banks also decided not to support other restructuring offers because
they did not believe they were suitable to avert the threat of insolvency."

CFO Matthias Kosch adds: "The successful avoidance of insolvency is the
direct result of the work of a dedicated team. As part of the open-ended
professional investor process, we scrutinised and evaluated various offers.
We are confident that the acceptance of CORSAIR's offer will secure Endor's
future in the long term."

As already communicated, Endor AG is to be restructured outside of
insolvency proceedings in accordance with the German Act on the
Stabilisation and Restructuring of Companies (StaRUG) due to imminent
insolvency. A binding agreement is expected to be signed in mid-June and
submitted to the restructuring court in Munich in the near future.

As part of the restructuring, CORSAIR will take over Endor AG in full and
provide it with sufficient financial resources to stabilise the company
without external debt. Endor is currently leveraged with around EUR 70
million.

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.

About CORSAIR

CORSAIR (Nasdaq: CRSR) is a leading global developer and manufacturer of
high-performance gear and technology for gamers, content creators, and PC
enthusiasts. From award-winning PC components and peripherals to premium
streaming equipment and smart ambient lighting, Corsair delivers a full
ecosystem of products that work together to enable everyone, from casual
gamers to committed professionals, to perform at their very best.

Copyright © 2024 Corsair Gaming, Inc. All rights reserved. CORSAIR and the
sails logo are registered trademarks of CORSAIR in the United States and/or
other countries. All other company and/or product names may be trade names,
trademarks, and/or registered trademarks of the respective owners with which
they are associated.

Press and investor enquiries:

Jasmin Dentz, GFD Finanzkommunikation

E-Mail: dentz@gfd-finanzkommunikation.de

Peter Herkenhoff, GFD Finanzkommunikation

E-Mail: herkenhoff@gfd-finanzkommunikation.de


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15.05.2024 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.

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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:    1904313

End of News EQS News Service
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1904313 15.05.2024 CET/CEST