Carel Industries S p A : participates in the CDP (ex. Carbon Disclosure Project) rating for the first year and obtains a score of "C"

Press Release

CAREL participates in the CDP (ex. Carbon Disclosure Project) rating for the first year and obtains a score of "C"

Brugine (PD), 10 December 2020 - CDP (ex. Carbon Disclosure Project), the global non-profit organization that monitors, inter alia, corporate performance in the fight against climate change, completed the rating process for CAREL for the first year, assigning it a score of "C" and therefore including it in the "Awareness" category, one step above the "Disclosure" category corresponding to the letter "D". For the CAREL Group, listed on the Stock Exchange since June 2018, this represents an important recognition of what has been done so far in terms of sustainability and is a starting point for continuing to develop and improve its strategy in this regard.

Furthermore, participation in the rating process bears witness to the importance that the Group places in safeguarding the environment, which is expressed primarily in the development lines of its products, which have always been devoted to energy efficiency and have for several years been at the forefront in simplifying the transition towards the use in refrigeration circuits of refrigerants that contribute less to global warming.

Finally, the decision to make its score public from the first year, taken at the beginning of the rating process, is emblematic of the transparency of the communication activities with its stakeholders that CAREL is committed to carrying out on a daily basis.

For further information
INVESTOR RELATIONS	MEDIA RELATIONS
Giampiero Grosso - Investor Relations Manager	Barabino & Partners
[e-mail]	Fabrizio Grassi
[phone]	[e-mail]
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	Francesco Faenza
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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 to 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 66% of the Group's revenues in the financial year to 31 December 2019, while the refrigeration market accounted for 33% 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 24 subsidiaries and nine production plants located in various countries. As of 31 December 2019, 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.