Vitesco Technologies Group AG, DE000VTSC017

Vitesco Technologies Group AG, DE000VTSC017

20.12.2021 - 16:07:18

Vitesco Technologies Group AG: Recognition of provisions in the context of possible compensation obligations towards Continental AG in connection with the diesel investigations

Vitesco Technologies Group AG: Recognition of provisions in the context of possible compensation obligations towards Continental AG in connection with the diesel investigations

Regensburg, December 20, 2021. Vitesco Technologies Group AG will recognize a provision in the fourth quarter in the amount of 80 million euros in connection with possible compensation obligations from the group separation agreement with Continental AG. This will have a corresponding negative impact on the consolidated results of Vitesco Technologies.

Pursuant to the agreements between Vitesco Technologies and Continental AG in the course of the spin-off, Vitesco Technologies is obliged to indemnify companies of the Continental group against expenses and liabilities attributable to the businesses transferred to Vitesco Technologies. This may include, among other things, potential fines and other costs, in particular legal fees. So far, no claims have been asserted by Continental AG in this regard. The timing and actual amount of any required compensation payments therefore remain undetermined.

Based on its assessment of the current status of the investigations conducted by the public prosecutor's offices in Hanover and Frankfurt am Main against Continental AG in connection with the alleged use of illegal defeat devices in diesel engines and an assessment of the costs incurred so far in this regard, the Executive Board of Vitesco Technologies Group AG expects it to be increasingly probable that Continental AG will assert claims against the company under the existing indemnification agreement.

20-Dec-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.Archive at www.dgap.de

Language: English Company: Vitesco Technologies Group AG Siemensstra?e 12 93055 Regensburg

Germany Phone: +49 941 2031 0 E-mail: ir@vitesco.com Internet: www.vitesco-technologies.com ISIN: DE000VTSC017 WKN: VTSC01 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1260179 ? End of Announcement DGAP News Service

1260179??20-Dec-2021?CET/CEST

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