Burda Digital SE submits specified demand for squeeze-out and determines cash compensation for transfer of the shares of the minority shareholders of New Work SE at EUR 105.65

Hamburg, 8. May 2025

On 7 May 2025, Burda Digital SE has submitted a specific request to the Management Board of New Work SE (“Company”) for the transfer of the shares of the Company’s minority shareholders to Burda Digital SE as the main shareholder in exchange for an appropriate cash settlement in accordance with Section 327a para 1 sentence 1 of the Stock Corporation Act (AktG) (squeeze-out under Stock Corporation Act).

In this context, Burda Digital SE has informed the Management Board of the Company that it holds approximately 97.07% of the Company’s share capital and has set the cash compensation for the transfer of the shares of the Company’s minority shareholders to it at EUR 105.65 per share of the Company. On 7 May 2025, the court-appointed expert auditor has confirmed that the cash compensation determined by Burda Digital SE is appropriate.

The transfer of the shares of the minority shareholders of the Company to Burda Digital SE as the main shareholder in exchange for a cash settlement of EUR 105.65 per share of the Company is to be resolved at the Company’s Annual General Meeting, which is expected to take place on 23 June 2025.

The squeeze-out under Stock Corporation Act will only become effective upon entry of the approving resolution of the Company’s Annual General Meeting in the commercial register.