Carel Industries S p A : 2021 Annual schedule of corporate events

Press Release

2021 Annual schedule of corporate events

Brugine, 16 December 2020 - Pursuant to existing legislation, Carel Industries S.p.A. is announcing its 2021 schedule of corporate events:

• 4 March 2021 - Board of Director's Meeting for the approval of the draft financial statements and the consolidated financial statements as at 31 December 2020.
• 20 April 2021 - Shareholders' Meeting for: the approval of the financial statements as at 31 December 2020; appointment of the Board of Directors; appointment of the Board of Statutory Auditors.
• 6 May 2021 - Board of Director's Meeting for the approval of the additional interim financial information as at 31 March 2021.
• 4 August 2021 - Board of Director's Meeting for the approval of the half-year financial report as at 30 June 2021.
• 4 November 2021 - Board of Director's Meeting for the approval of the additional interim financial information as at 30 September 2021.

Following each Board of Directors' meeting to approve the periodic financial statements, a press release will be published and there will be a conference call (audio-conference and webcast) with the financial community; dates and timing will be duly announced as soon as they are scheduled.

Any changes to the dates given above will be announced promptly.

We wish to inform you that, pursuant to Article 2.2.3 of the Stock Exchange Regulation, in place of the additional financial information as at 31 December 2020, the company will publish the annual financial report, together with the other documents pursuant to Article 154-ter, paragraph 1, of the TUF, within 90 days of the 2020 year-end.

For further information:
INVESTOR RELATIONS	MEDIA RELATIONS
Giampiero Grosso - Investor Relations Manager	Barabino & Partners
[e-mail]	Fabrizio Grassi
[phone]	[e-mail]
	[phone]
	Francesco Faenza
	[e-mail]
	[phone]
	***

CAREL

The CAREL Group is a leader in the design, production and global marketing of technologically advanced components and solutions for excellent energy efficiency in the control and regulation of heating, ventilation and air conditioning ("HVAC") and refrigeration equipment and systems. CAREL is focused on several vertical niche markets with extremely specific needs, catered for with dedicated solutions developed comprehensively for these requirements, as opposed to mass markets.

The Group designs, produces and markets hardware, software and algorithm solutions aimed at both improving the performance of the units and systems they are intended for and for energy saving, with a globally recognised brand in the HVAC and refrigeration markets (collectively, "HVAC/R") in which it operates and, in the opinion of the Company management, with a distinctive position in the relevant niches in those markets.

HVAC is the main Group market, representing 61% of the Group's revenues in the financial year ended 31 December 2018, while the refrigeration market accounted for 37% of the Group's revenues.

The Group commits significant resources to research and development, an area which plays a strategic role in helping it maintain its leadership position in the reference HVAC/R market niches, with special attention focused on energy efficiency, the reduction of the impact on the environment, trends relating to the use of natural refrigerant gases, automation and remote connectivity (the Internet of Things), and the development of data driven solutions and services.

The Group operates through 23 subsidiaries and nine production plants located in various countries. As of 31 December 2018, approximately 80% of the Group's revenue was generated outside of Italy and 49% outside of Western Europe.

Original Equipment Manufacturers or OEMs - suppliers of complete units for applications in the HVAC/R markets - make up the main category of the Company's customers, on which the Group focuses to build long-term relationships.