The Management Board of AT & S Austria Technologie & Systemtechnik Aktiengesellschaft ("AT&S") has decided - based on approval from the Supervisory Board and subject to market conditions - to issue a deeply subordinated bond with an indefinite term and an early redemption option by AT&S after five years (the "Hybrid Bond"). HSBC Bank plc, Morgan Stanley Europe SE have been mandated as Joint Global Coordinators and Joint Bookrunners, Erste Group Bank AG has been mandated as Joint Bookrunner. AT&S targets an issue volume of at least EUR 300m up to benchmark size.

The issue will be directed exclusively to professional and institutional investors and the Bonds will have a minimum denomination of EUR 100,000; a retail offer will not take place. The total issue amount has not yet been determined and will be set in the course of a book-building procedure. Further details of the issuance including nominal volume, issue price and coupon will be subject to then applicable market conditions and determined based on investor feedback/dialogue within such a book-building procedure.

The issue is expected to settle in January 2022. The potential proceeds of the issue shall support the strategic investment program as the basis for the planned, long-term profitable growth. Furthermore, the potential proceeds are intended to strengthen AT&S's capital base and to optimize the balance sheet structure via an IFRS equity instrument.

In connection with the issuance of the new Hybrid Bond, AT&S invites eligible holders of the outstanding EUR 175,000,000 Undated Resettable Fixed Rate Subordinated Notes (XS 1721410725) issued by AT&S on November 24, 2017 (the "2017 Bond") to tender the 2017 Bond for purchase by AT&S in cash, subject to the conditions described in the Tender Offer Memorandum of AT&S dated January 10, 2022 (the "TOM") (the "Offer"). The purchase price for the 2017 Bond is 103.70% or EUR 1,037 per EUR 1,000 principal amount on the basis of a settlement date of January 20, 2022. In addition, AT&S will also pay accrued interest in respect of the 2017 Bond accepted for purchase pursuant to the Offer.

The TOM is available from Lucid Issuer Services (the "Tender Agent") during the offer period which will start on January 10, 2022 and which is expected to end on January 17, 2022, 5.00 pm CET. The Offer is being made as part of AT&S's commitment to pro-actively manage the Company's upcoming redemptions and to optimize its debt maturity profile.