Carel Industries S p A : Notice - Publication of documentation

Press release

Notice - Publication of documentation

Brugine, 22 March 2024 - The essential information pursuant to Article 122 of Italian Legislative Decree No. 58 of 24 February 1998 ("CLF") and Article 130 of the Regulations adopted with Consob Resolution No. 11971 of 14 May 1999 as subsequently amended and supplemented ("Issuers' Regulations") and the extract of the amendment agreement pursuant to Article 122 of the CLF and Articles 129 and 131 of the Issuers' Regulations relating to the shareholders' agreement concerning shares in CAREL Industries S.p.A. ("Carel" or "Company") signed on 10 June 2018 between Luigi Rossi Luciani S.a.p.a. and Athena FH S.p.A. (as subsequently automatically renewed) and amended on 20 March 2024, are available to the public at Carel registered office, on the Company's website ww.carel.com ("Corporate Governance/Shareholders' Agreements" section) and through the authorized storage mechanism eMarket Storage (www.emarketstorage.com).

The extract will also be published in the daily newspaper "Il Sole 24 Ore" on 23 March 2024.

For further information
INVESTOR RELATIONS	MEDIA RELATIONS
Giampiero Grosso - Investor Relations Manager	Barabino & Partners
[e-mail]	Fabrizio Grassi
[phone]	[e-mail]
	+39	392 73 92 125
	Marco Trevisan
	[e-mail]
	+39	02 72 02 35 35

CAREL

The CAREL Group is a global leader in the design, production and marketing of technologically-advanced components and solutions for excellent energy efficiency in the control 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's management, with a distinctive position in the relevant niches in those markets.

HVAC is the Group's main market, representing 73% of the Group's revenues in the financial year to 31 December 2023, while the refrigeration market accounted for 27% 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 position of leadership in the reference HVAC/R market niches, with special attention focused on energy efficiency, the reduction of environmental impact, 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.

As of 31 December 2023 the Group operates through 49 branches including 15 production plants located in various countries, approximately 80% of the Group's revenues was generated outside of Italy and 30% outside of EMEA (Europe, Middle East, Africa).

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