Swiss Steel Holding AG publishes rights offering prospectus and announces the launch of its rights offering

Swiss Steel Holding AG / Key word(s): Miscellaneous Swiss Steel Holding AG publishes rights offering prospectus and announces the launch of its rights offering 08-Apr-2024 / 08:23 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Lucerne, April 8, 2024 – Swiss Steel Holding AG (the "Company") today announces the publication of the rights offering prospectus as well as the launch on April 11, 2024 of its rights offering to strengthen the capital and liquidity and reduce the indebtedness of the Company.

On April 4, 2024, an extraordinary general meeting of the Company's shareholders approved an increase of the Company's share capital through the issuance of 3,101,000,000 new registered shares as well as the reduction of the par value of all of the Company's shares from CHF 0.15 to CHF 0.08. As a result of the capital increase, the Company's share capital will increase from currently CHF 458,828,620.65 to CHF 492,788,597.68.

The targeted gross proceeds of EUR 300 million from the capital increase will be used to strengthen the Group's capital and liquidity and reduce its indebtedness in order to allow it to shift its focus on fully re-entering the market, in particular against the backdrop of an expected improving economy.

Today, the Company publishes the rights offering prospectus including key transactional dates. For every share held after close of trading on SIX Swiss Exchange on April 10, 2024, existing shareholders will receive one subscription right to subscribe for new shares to be issued in the capital increase. The new shares will be offered to existing shareholders at a ratio of 73 new shares for every 72 subscription rights held, subject to certain restrictions based on residency and applicable securities laws. The subscription rights will not be listed or traded and will lapse without compensation unless exercised during the rights exercise period.