DGAP-News

Mutares SE & Co. KGaA: Seventh Acquisition in 2022: Mutares acquires Heat Transfer Technology from Siemens Energy B.V.

DGAP-News: Mutares SE & Co. KGaA / Key word(s): Takeover/Agreement Mutares SE & Co. KGaA: Seventh Acquisition in 2022: Mutares acquires Heat Transfer Technology from Siemens Energy B.V. 20.06.2022 / 16:16 The issuer is solely responsible for the content of this announcement. Seventh Acquisition in 2022: Mutares acquires Heat Transfer Technology from Siemens Energy B.V.

• New platform investment which – before joining Siemens Energy – operated under the NEM Energy brand in Zoeterwoude, the Netherlands
• Strengthening the Engineering & Technology segment
• Specialist in the field of heat recovery steam generators for gas-fired power plants and industrial-sized energy efficiency applications
• Significant synergies with the heat transfer business of the Balcke-Dürr Group

Munich / Amsterdam, 20 June 2022 – Mutares SE & Co KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire Heat Transfer Technology from Siemens Energy B.V. This acquisition will strengthen the Engineering & Technology segment as a new platform investment. The closing of the transaction, expected in the 4^th quarter this year, is subject to the fulfilment of information and consultation rights of the relevant works councils and customary approvals.

The company, headquartered in Zoeterwoude, the Netherlands, employs around 270 people, mainly in the Netherlands, as well as Germany. The company was founded in 1929 and previously operated under the well-known NEM brand. Today, the company covers a wide range of heat transfer applications from industrial-sized waste heat units to being a specialist in large heat recovery steam generators for gas-fired power plants. The company is active worldwide in the development, design, engineering, procurement and supply of components for power plants, is among the top 3 suppliers in terms of total number of units supplied and among the top 2 suppliers for large horizontal and large vertical heat recovery steam generator (HRSG) applications.