CORPORATE NEWS

Daldrup & Söhne AG receives order from BGE for exploratory borehole in Asse II mine

• Order volume of about 5 mio. euros

Oberhaching / Ascheberg, 18 April 2023 - Daldrup & Söhne AG (ISIN DE0007830572), drilling technology and geothermal specialist, has received an order from the Bundesge-sellschaft für Endlagerung mbH (BGE) for the construction of a shaft pilot borehole for the Asse, the Remlingen R 18 exploratory borehole. The project volume is approximately 5 million euros. It is a complex high-tech drilling contract that serves to obtain data on the basis of drill cores. On the basis of the exploration results, the BGE intends to subsequently determine the starting point for the Asse 5 retrieval shaft and to provide the commissioned planners for the shaft construction with the necessary information. Drilling is scheduled to begin in August of this year. The end of the drilling work is planned for 2024.

Daldrup & Söhne AG has precisely the knowledge and experience that this market requires and can back this up with references such as the boreholes drilled for the Swiss Nagra, National Cooperative for the Disposal of Radioactive Waste, between 2019 and 2022. Daldrup is one of the few companies in Europe that can combine high-quality deep drilling and core drilling technology. This is the only way to ensure that the quality of the rock samples, even from very great depths, meets the high scientific standards and usability for the purpose of the project. For the next few years, Daldrup & Söhne AG expects an increasing order volume for these challenging drilling projects in Germany and other EU countries.

Search for a safe final repository in Germany restarted

According to the BGE, more than 120,000 cubic metres of radioactive waste are currently stored in Germany in interim storage facilities and contracted operations of the state collection centres. This volume will rise sharply in the coming years due to the decommissioning and dismantling of nuclear power plants. For the safe final disposal of high-level radioactive waste, the BGE identified regions in Germany that are expected to have favourable geological conditions in the so-called sub-area report at the end of September 2020. Such regions may be considered for a repository. In the coming years, areas will be selected according to a defined procedure, and their suitability will then be examined in more detail by seismic surveys and exploratory drilling. According to the BGE schedule published in December 2022, the decision on a site will be made in the 2040s at the earliest - the original target set in the Site Selection Act was 2031.

The billions of federal funds that are being invested both in the preparation of the salvage operation and in the search for a final repository for radioactive waste demonstrate the social and political significance of dealing with the nuclear legacy and, above all, with the search for a safe final repository. A new, attractive market segment is opening up for Daldrup & Söhne AG.

About Daldrup & Söhne AG

Daldrup & Söhne AG (ISIN: DE0007830572, WKN: 783057) with a corporate history spanning more than 75 years is a specialist provider of drilling and environmental services and ranks as one of the leading companies in Germany. Its activities are divided into the business divisions Geothermics, Raw Materials & Exploration, Water Extraction as well as Environment, Development & Services (EDS). The Geothermics business division provides drilling services for near-surface geothermics (especially geothermal probes of heat pumps), along with drilling services for deep geothermics up to 6000 m, in order to utilise the geothermal energy accessible in this way for electricity and/or heat generation. In the Raw Materials and Exploration business division, the bores made by Daldrup & Söhne AG serve for exploring and developing fossil fuel deposits (especially coal and gas) as well as mineral resources and ores (e.g. copper and gold). The Water Extraction business division comprises well construction for the extraction of drinking, service, curative, mineral, boiler-feed or cooling water as well thermal brine. The Environment, Development & Services (EDS) business division comprises special environmental engineering services such as the hydraulic clean-up of contaminated sites, the drilling of gas extraction wells for recovering waste dump gas, the provision of groundwater quality measuring points or the installation of water purification plants.

The shares of Daldrup & Söhne AG are listed in the Scale (sub-segment in the open market of the Frankfurt Stock Exchange).

Disclaimer

This publication represents neither an offer for sale nor a call to submit a tender for the purchase or underwriting of securities. This publication and the information it contains is not intended for direct or indirect dissemination in or within the United States of America ("USA"), Canada, Australia or Japan.

Press & Investor Relations contact

Daldrup & Söhne AG

Falk v. Kriegsheim

     Fon +49 (0)2593-9593-29

     Fax +49 (0)2593-9593-60

Bajuwarenring 17a   

82041 Oberhaching