Fourteenth acquisition in 2022: Mutares signs agreement to acquire Palmia Oy from the City of Helsinki

• Further strengthening its presence in Finland after recent successful sale of Nordec Group Oyj
• New platform investment strengthening the Goods & Services segment
• Generated revenue of EUR 104 million in 2021
• Provider of soft and hard facility services, e.g. within foods/restaurants, cleaning, real estate and security

Munich, 14 December 2022 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire Palmia Oy from the City of Helsinki. The company will strengthen the Goods & Services segment as a new Finnish platform investment. The transaction is expected to close in Q1 2023 and is subject to approval by the Finnish Competition and Consumer Authority.

Palmia Oy offers food, real estate, cleaning, and security services in 12 different municipalities throughout southern Finland. The company was incorporated in 2015 by the City of Helsinki and generated revenue of EUR 104 million in 2021 with ca. 2,100 employees. The company is expected to generate revenue of approx. EUR 120 million in 2022 and currently employs ca. 2,400 employees.

Johannes Laumann, CIO of Mutares SE & Co. KGaA, comments: „With this transaction Mutares further builds on its successful presence in Finland. We are very happy to welcome Palmia Oy to our portfolio and will do our utmost with our team and Management to repeat at Palmia Oy the success we had with Nordec Group Oyj. Here we managed to exceed Mutares' official ROIC target of 7-10x. Our successful track record makes it clear that such successes are reproducible. We are working on this with Palmia Oy as well from now on."

Company profile of Mutares SE & Co. KGaA

Mutares SE & Co. KGaA, Munich (), as a listed private equity holding company with offices in Munich (HQ), Amsterdam, Frankfurt, Helsinki, London, Madrid, Milan, Paris, Stockholm and Vienna, acquires medium-sized companies in special situations, based in Europe, which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilization process. For the financial year 2022, consolidated revenues of approx. EUR 4 billion are expected. Based on this, consolidated revenues are to be expanded to approx. EUR 7 billion by 2025. As the portfolio grows, so do consulting revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. Accordingly, a net profit in the holding company in the range of EUR 125 million to EUR 150 million is expected for the financial year 2025. The Management Board and Supervisory Board together hold more than one third of all Mutares shares with voting rights. The shares of Mutares SE & Co. KGaA are traded on the Regulated Market of the Frankfurt Stock Exchange under the symbol "MUX" (ISIN: DE000A2NB650).

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