Carel Industries S p A : Presentation of the candidature of Ms Camilla Menini for the position of alternate auditorx

Press Release

Presentation of the candidature of Ms Camilla Menini for the position of alternate auditor

Brugine, 29 August 2023 - Notice is hereby given that, in view of the Ordinary and Extraordinary Shareholders' Meeting of CAREL Industries S.p.A. ("CAREL" or the "Company") scheduled for 14 September 2023, in accordance with the provisions of the relevant notice of call published on 5 August 2023, the shareholders Luigi Rossi Luciani S.A.P.A. and Athena S.p.A. jointly submitted the candidature of Ms Camilla Menini for the office of alternate auditor of the Company, in replacement of Ms Alessandra Pederzoli, who passed away on 23 June 2023.

The relevant documents are available at the company's registered office, on the website www.carel.comunder the Investor Relations/Meetings section and at the authorised eMarket Storage mechanism, available at www.emarketstorage.com

For more information
INVESTOR RELATIONS	MEDIA RELATIONS
Giampiero Grosso - Investor Relations Manager	Barabino & Partners
[e-mail]	Fabrizio Grassi
[phone]	[e-mail]
	[phone]
	Marco Trevisan
	m. [e-mail]
	[phone]
	***

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 68% of the Group's revenues in the financial year to 31 December 2022, while the refrigeration market accounted for 31% 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.

The Group operates through 36 branches including 15 production plants located in various countries. As of 31 December 2022, 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.

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