Telekom Austria AG agreed to Spin-Off Mobile towers on February 6, 2023. As per the transaction, the shareholders of Telekom Austria AG shall receive 1 share in EuroTeleSites AG for every 4 shares in Telekom Austria AG in proportion to their shareholding in Telekom Austria AG. The record date of transaction is March 31, 2023. Telekom Austria was also informed that the two shareholders have agreed to support a spin-off of the mobile towers into a separate company the shares of which are planned to be listed on the Vienna Stock Exchange and distributed proportionally to Telekom Austria AG's shareholders. As of August 1, 2023, Shareholders has approved the transaction. The implementation of the tower spin-off will not result in changes in the core shareholder structure. As part of the renewal of the Shareholders Agreement, AMX and OBAG have agreed to firmly support the spin-off of the mobile towers in most of the countries in which Telekom Austria operates, including Austria. Implementation of the tower spin-off is subject to required corporate and regulatory approvals, including the approval by the Supervisory Board and by the shareholders of Telekom Austria. At the beginning of February, Supervisory Board of OBAG approved the transaction. EuroTeleSites expects to be listed on the Vienna Stock Exchange on September 22, 2023. The transaction is expected to close on September 21, 2023. J.P. Morgan acted as exclusive financial advisor to OBAG one of investor of Telekom Austria AG.

Telekom Austria AG completed the Spin-Off of EuroTeleSites AG (WBAG:ETS) on September 22, 2023.