Back on track - KTM AG reorganization plan accepted by creditors

Corporate News

Wels, February 25, 2025

PIERER Mobility: Back on track - KTM AG reorganization plan accepted by creditors

• Restructuring plan accepted:  
  Cash quota of 30%, payable by May 23, 2025
• Further fresh capital of around EUR 800 million required
• Production will be ramped up again from mid-March 2025

KTM AG, a wholly owned subsidiary of PIERER Mobility AG, filed for court restructuring proceedings with self-administration on November 29, 2024. The aim of the proceedings was to agree a restructuring plan with the creditors within 90 days.

Restructuring plan adopted

At today's restructuring plan meeting, the creditors accepted the restructuring plan submitted by KTM AG. It provides for creditors to receive a cash quota of 30% of their claims. This cash quota is to be paid by KTM AG to the restructuring administrator by May 23, 2025.

Gottfried Neumeister, CEO of PIERER Mobility AG: "I am grateful and happy today. KTM is back on track. Our employees have done everything over the last three months to ensure that the race can continue. We have closed an important chapter today. But a single chapter never tells the whole story. Now we can continue the great story of KTM. We do it for the millions of KTM fans worldwide, to whom we are grateful every day. For our racers, of whom we are damn proud. And for our Austrian location, to which we are deeply attached in our hearts. KTM remains one of the top employers in the Upper Austrian industry."

Fresh capital of around EUR 800 million required

In order to finance the cash quota and further production, the Group requires fresh capital of around EUR 800 million. Citigroup Global Markets Europe AG ("Citigroup") was commissioned to support this investment process in a structured, transparent and efficient manner in the interests of all stakeholders

Production will be ramped up again from mid-March 2025

To enable production to be ramped up again gradually from mid-March 2025, KTM AG will be provided with financial resources totaling EUR 50 million from the extended circle of shareholders. The planned full capacity utilization of the four production lines in single-shift operation is to be achieved within three months.

For further information:

Investor Relations

Hans Lang & Melinda Busáné Bellér

Tel: +43 676 4140945 or +43 676 4093711

Email: ir@pierermobility.com

Website: https://www.pierermobility.com