More than 97 percent of the shares have now subscribed for sale in the tender offer forAlumetal . The subscription period was concluded onFriday, June 30 . Hydro will now proceed with the purchase of allAlumetal shares, which were subscribed for sale. The share purchases are expected to be concluded onJuly 5 and settled onJuly 7 . "We are very pleased that our tender offer has ended successfully. As previously announced, our aim will now be to efficiently carry out a squeeze-out of the shares remaining in the hands of minority shareholders and to delistAlumetal from the WSE. We are impressed byAlumetal's development, the quality of production, and the competence of management and employees. At this stage, we aim to integrateAlumetal within Hydro and to develop an even better offering of low-carbon recycled aluminium to our customers," saysEivind Kallevik , Executive Vice President of Hydro Aluminium Metal. Assuming purchase of shares representing 100 percent ofAlumetal's share capital, the value of the transaction implies an aggregate equity purchase price of approximately PLN 1,265 million and an enterprise value of approximately PLN 1,651 million including dividend payable. Investor contact: Martine Rambøl Hagen +47 91708918 Martine.Rambol.Hagen@hydro.com Media contact: Anders Vindegg +47 93864271 Anders.Vindegg@hydro.com This announcement is for informational purposes only and cannot be treated as an offer or proposal to purchase shares, nor as a recommendation regarding investment decisions in relation to the tender offer for the sale of shares inAlumetal S.A. , announced onMay 25, 2023 byHydro Aluminium AS (the "Tender Offer") through Bank Pekao -Biuro Maklerskie Pekao and Pekao Investment Banking S.A. as intermediary brokers. The Tender Offer document (as amended thereafter) is the only legally binding source of information on the terms of the Tender Offer and is the only legally binding document relating to the Tender Offer process. At the same time, the Tender Offer should not be considered as a recommendation or forecast fromHydro Aluminium AS , any Hydro group entity or BankPekao S.A. , Pekao Investment Banking S.A. and entities from Bank Pekao S.A.'s capital group.
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