EQS-Adhoc: Continental AG: Continental evaluates spin-off of Automotive group sector and prepares implementation

Hanover, August 5, 2024. After strategic review, Continental’s Executive Board has decided to evaluate in detail a spin-off with subsequent 100% public listing of the Automotive group sector on the Frankfurt stock exchange. The required steps for implementation will be prepared in parallel.

As a result of the spin-off, the Automotive group sector would no longer be part of the Continental Group. The Continental shareholders would be direct shareholders of the new Automotive Group. The Contract Manufacturing group sector would also be part of the transaction.

The aim of a spin-off would be to fully exploit the value and growth potential of the two then separate groups.

On the basis of the detailed evaluation, the Executive Board is expected to decide on the spin-off in the fourth quarter. Subject to the corresponding resolutions of the Executive Board and the Supervisory Board, the potential spin-off could be submitted for approval at the annual shareholder’s meeting of Continental AG on April 25, 2025. In case of approval, the aim is to finalize the spin-off by the end of 2025.

Contact:
Person making the notification: Max Westmeyer, Head of IR (interim)