DEUTZ AGM: Broad support for strategy adopted by Board of Management and
Supervisory Board - new CEO of Green segment introduced

EQS-News: DEUTZ AG / Key word(s): AGM/EGM
DEUTZ AGM: Broad support for strategy adopted by Board of Management and
Supervisory Board - new CEO of Green segment introduced

08.05.2024 / 17:54 CET/CEST
The issuer is solely responsible for the content of this announcement.

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  * Actions of the Supervisory Board formally approved by a large majority;
    shareholders also vote in favor of all management proposals

* Dividend increased to EUR0.17 per share approved

  * Green segment now has its own CEO: Bert van Hasselt takes responsibility
    for alternative drive development with immediate effect

Cologne, May 8, 2024 - At today's virtual Annual General Meeting in Cologne,
the shareholders of DEUTZ AG formally approved the actions of the Board of
Management and Supervisory Board, voted in favor of all management
proposals, and expressed broad support for the Company's new strategic
direction. The Annual General Meeting also approved the Board of Management
and Supervisory Board's proposal to pay a dividend of EUR0.17 for 2023.

'Under the Dual+ strategy, presented at the beginning of 2023, we are
focusing on clean internal combustion engines, green technologies that meet
the needs of the market, and the global expansion of our service business.
The results for 2023 show that this strategy is working,' explains DEUTZ
CEO, Dr. Sebastian C. Schulte. 'And we can see from our performance even in
the much weaker economic climate of the first quarter of 2024 that we are
now far more resilient than in the past. The operational elements of our new
strategy and the growing service business are playing an important role
here, as are the changes to our portfolio that have already been made.'

The Chairman of the Supervisory Board of DEUTZ AG, Dr. Dietmar Voggenreiter,
added: 'We are on the right track, both strategically and structurally. That
is evident from our record results for 2023, but also in the robust results
at the start of the year.' Even in the difficult economic environment of the
first quarter, DEUTZ AG was operating profitably. 'This lays a solid
foundation for our ongoing transformation from a traditional manufacturer of
internal combustion engines to a provider of sustainable drive
technologies.'

DEUTZ also used the Annual General Meeting to announce that Bert van Hasselt
has been newly appointed as the Green segment's first CEO and will be
responsible for the targeted development of alternative drives. The decision
follows the restructuring of the segment that was initiated last year. Now
that Green has a more independent organizational structure, it should be
able to align its development activities even more closely with the market
and the needs of customers and ultimately enable this business to operate
profitably too.

'Electric drives have a role to play in smaller machines and we have we have
positioned ourselves well in this area in recent years. But it is becoming
increasingly clear that many of the machines that we supply drives for will
not be able to operate without an internal combustion engine, even in the
future. We should acknowledge this and focus on the areas in which we as
DEUTZ have experience and a head start on our competitors,' says DEUTZ CEO,
Dr. Sebastian Schulte. 'We are delighted to welcome Bert van Hasselt as the
Green segment's CEO. Not only does Bert know DEUTZ extremely well, but he
has proven his ability to shape change, while maintaining a focus on sales
and customer-centricity, across more than 25 years in management in the
engineering and commercial vehicle sectors. Bert will continue the strategic
realignment of the Green segment with great success.'

Detailed information about the virtual Annual General Meeting and the
results of the voting on the individual agenda items are available on the
DEUTZ website at
www.deutz.com/en/investor-relations/annual-general-meeting/2024/.

For further information on this press release, please contact:

     Mark Schneider
     Head of Investor Relations, Communications, & Marketing
     Tel: +49 (0)221 822 3600
     Email: (1)Mark.Schneider@deutz.com

1. mailto:Mark.Schneider@deutz.com
About DEUTZ AG

DEUTZ AG, a publicly traded company headquartered in Cologne, Germany, is
one of the world's leading manufacturers of innovative drive systems. Its
core competencies are the development, production, distribution, and
servicing of drive solutions in the power range up to 620 kW for off-highway
applications. The current portfolio extends from diesel, gas, and hydrogen
engines to all-electric drives. DEUTZ drives are used in a wide range of
applications including construction equipment, agricultural machinery,
material handling equipment such as forklift trucks and lifting platforms as
well as commercial and rail vehicles. With over 5,000 employees worldwide
and around 1,000 sales and service partners in more than 120 countries,
DEUTZ generated revenue of over EUR2.1 billion in the 2023 financial year.
Further information is available at www.deutz.com.


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   Language:       English
   Company:        DEUTZ AG
                   Ottostraße 1
                   51149 Köln (Porz-Eil)
                   Germany
   Phone:          +49 (0)221 822 0
   Fax:            +49 (0)221 822 3525
   E-mail:         ir@deutz.com
   Internet:       www.deutz.com
   ISIN:           DE0006305006
   WKN:            630500
   Indices:        SDAX
   Listed:         Regulated Market in Dusseldorf, Frankfurt (Prime
                   Standard); Regulated Unofficial Market in Berlin,
                   Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1899109

End of News EQS News Service
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1899109 08.05.2024 CET/CEST