NOTICE

Mangrove LuxCo III S.à r.l.

Société à Responsabilité Limitée

Registered Office: 2, rue Edward Steichen,

L-2540 Luxembourg

Grand Duchy of Luxembourg

R.C.S. Luxembourg B236258

7.775% Senior Secured Notes due 2025

ISIN Code: XS2059543921 / XS2059544655 / XS2059545389

Luxembourg — 3.00 pm, 30 May 2023

We are pleased to invite you to the Q1 2023 investor conference call of Mangrove LuxCo III      S.à r.l. on

Tuesday, June 13, 2023

5.00 pm CEST,

 4.00 pm BST,

11.00 am EDT

On the conference call, Mangrove LuxCo III S.à r.l. will discuss the bondholder quarterly reports for Q1 2023 and the results of operations of Mangrove LuxCo III S.à r.l. and its subsidiaries (the “Mangrove Group”) in respect of such period. In addition, Mangrove LuxCo III S.à r.l. will discuss the noteholder presentation. The conference call will also include a discussion of the operational performance of the Mangrove Group and its subsidiaries on a pro-forma basis for Q1 2023.

The conference call will be hosted by Mr. Mark Bevan, Chief Financial Officer of Kelvion Group.

The Group’s bondholder quarterly reports for Q1 2023 have been released at the investor website of the Mangrove Group at Syndtrak.

At the same website the noteholder presentation and the information how to access the investor conference call will be released in due course.

Holders of the Senior Secured Notes, prospective investors, broker dealers and securities analysts that do not yet have access to the investor website of the Mangrove Group at Syndtrak may contact Mangrove Investor Relations ( ).

The Mangrove Group, under its brand Kelvion, is a leading global manufacturer of heat exchangers and provides a full range of solutions for almost every industrial application, specializing in customized solutions suitable for extreme environmental conditions. The Mangrove Group is among the leading manufacturers in many of its core products. The Mangrove Group’s main end-markets are power, heating, ventilation and air conditioning and refrigeration technology, oil and gas, food and beverages, chemicals, water and wastewater and marine. In those markets, the Mangrove Group services a broad, diversified and long-standing customer base in more than 130 countries.

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Disclaimer

This press release has been prepared by the Mangrove Group solely for informational purposes and does not constitute, and should not be construed as, an offer to sell or issue securities or otherwise constitute an invitation or inducement to any person to purchase, underwrite, subscribe to or otherwise acquire securities in any Mangrove Group entity.

Certain statements contained in this press release that are not statements of historical fact, including, without limitation, any statements preceded by, followed by or including the words “targets,” “believes,” “expects,” “aims,” “intends,” “may,” “anticipates,” “would,” “could” or similar expressions or the negative thereof, constitute forward-looking statements, notwithstanding that such statements are not specifically identified. Examples of forward-looking statements include, but are not limited to: (i) statements about future financial and operating results; (ii) statements of strategic objectives, business prospects, future financial condition, budgets, projected levels of production, projected costs and projected levels of revenues and profits of the Mangrove Group or its management or boards of directors; (iii) statements of future economic performance; and (iv) statements of assumptions underlying such statements.

Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions which are difficult to predict and outside of the control of the management of the Mangrove Group. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. We have based these assumptions on information currently available to us, and if any one or more of these assumptions turn out to be incorrect, actual market results may differ from those predicted. While we do not know what impact any such differences may have on our business, if there are such differences, our future results of operations and financial condition, could be materially adversely affected. You should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which such statements are made. The Mangrove Group expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events.

No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. Neither the Mangrove Group nor any of its advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this press release or its contents. The information contained in this press release does not constitute investment advice.

This press release is not for publication, release or distribution in Canada, Japan or Australia. Any failure to comply with this restriction may constitute a violation of securities laws. This press release and the information contained herein are not an offer of securities for sale in the United States or to U.S. persons. Any securities referred to herein have not and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to U.S. persons. Any public offering of securities to be made in the United States would have to be made by means of a prospectus that would be obtainable from the Mangrove Group and would contain detailed information about the Mangrove Group, of any securities and its management, as well as financial statements. No money, securities or other consideration is being solicited, and, if sent in response to the information contained herein, will not be accepted.