Heerenveen, The Netherlands, 18 February 2022 – Reference is made to the joint press release issued by Accell Group and the Offeror on 24 January 2022 in respect of the conditional agreement on a recommended public offer to be made by the Offeror for all of the issued and outstanding ordinary shares in the capital of Accell Group at an offer price of EUR 58.00 in cash per Share (cum dividend) (the "Offer"). The joint press release of 24 January 2022 can be found on https://media.kkr.com/ and https://www.accell-group.com/nl/nieuws/nieuws.

Pursuant to the provisions of Section 7, paragraph 1 sub a of the Decree, a public announcement including a status update on an intended public offer is required within four weeks after the offer is announced. The Consortium and Accell Group hereby provide this joint update on the Offer.

The Consortium and Accell Group confirm that they are making good progress on the preparations for the Offer. A request for review and approval of the Offer Memorandum will be filed with the AFM today.

The Consortium and Accell Group further announce that they are in advanced pre-notification discussions with the European Commission and have made a formal filing to the Turkish competition authority to obtain the required competition clearances in respect of the Offer. The Consortium and Accell Group are closely co-operating in respect of obtaining the clearances and are confident that the Consortium will secure these within the timetable of the Offer. In addition, Stichting Preferente Aandelen Accell Group has, irrevocably and conditional only upon the Offer being declared unconditional, agreed to termination of the option agreement with Accell Group with effect from the settlement of the Offer.

As communicated in the joint press release dated 24 January 2022, the Consortium and Accell Group anticipate that the Offer will close in late Q2 2022 or early Q3 2022.

For More Information:

Media enquiries Accell Group
CFF Communications
Frank Jansen / Anja Höchle: : + 31 6 21 54 23 69 / +31 6 31 97 33 75
frank.jansen@cffcommunications.nl / anja.hoechle@cffcommunications.nl