Volkswagen : Green Mobility Holding welcomes governance change and new leadership team of Europcar Mobility Group...

Green Mobility Holding S.A., a bidder consortium consisting of Volkswagen, Attestor and Pon, and the controlling majority shareholder of Europcar Mobility Group, welcomes the adoption of all the resolutions proposed to the Europcar Mobility Group's Combined Shareholders' Meeting that has taken place today. As proposed by the consortium, the Shareholders' Meeting has approved to change the governance structure of Europcar Mobility Group from a one-tier board structure to a two-tier board structure with a Management Board and a Supervisory Board.

Imelda Labbé (Member of the Board of Management for Sales, Marketing and After Sales at Volkswagen Passenger Cars effective July 1, 2022), Holger Peters (Head of Transformation Office at Volkswagen AG), Jan-Christoph Peters (Founder and Chief Investment Officer of Attestor), David Alhadeff (Partner at Attestor) as well as Janus Smalbraak (CEO of Pon Holdings) have been appointed members of this newly created Supervisory Board. The consortium also welcomes that the Supervisory Board has appointed the experienced travel and technology executive Peter Gowers as Chairman of the Management Board and Group Chief Executive Officer of Europcar Mobility Group. He takes over from Caroline Parot, who had decided to move onto a new challenge after more than a decade with the company, following the consortium's successful tender offer. The consortium also welcomes the appointment of experienced finance leader Philip de Klerk as Chief Financial Officer of Europcar Mobility Group. Both start in their new roles with immediate effect, ensuring a smooth transition from the previous management team.

Holger Peters, Chairman of the Supervisory Board of Europcar Mobility Group: "We are delighted to welcome Peter and Philip to their new roles. Peter is a highly experienced global executive with a background in brands, travel and technology transformation. His appointment will add key international leadership skills to complement the extensive capabilities in car rental and mobility within the company and its shareholders. Philip brings great experience as a CFO in the consumer space. With this new, strong leadership team, Europcar Mobility Group will further accelerate its transformation into a leading mobility platform, building on the company's strengths and the milestones already achieved."

Experienced travel, technology and transformation executive Peter Gowers becomes Chairman of the Management Board and Group Chief Executive Officer

Peter Gowers is an international travel and technology executive, with more than twenty-five years' experience in driving brands, customer experience, technology and transformation in Europe, Asia and the Americas, in both listed and private businesses.

He joins Europcar Mobility Group from European budget hotel operator Travelodge, where he recently served as Chief Executive. Prior to this, he was Chief Executive of Safestore Holdings, an Anglo-French services and real estate business. His experience also includes ten years with the global hotel operator InterContinental Hotels Group (IHG), serving successively as its Head of Strategy, Group Chief Marketing Officer and CEO for Asia-Pacific, and with the technology and strategy consulting firm Arthur D. Little.

Peter Gowers commented: "Europcar Mobility Group is a great international mobility player with a proud history and an excellent team. People around the world have a growing need to access the right form of transport, on demand, with the least impact on the environment and at a price they can afford. With its scale and expertise in innovation, Europcar Mobility Group is ideally positioned to meet those needs and to become the leader in sustainable mobility. I look forward to working closely with the team over the years ahead to reach the next level in the company's development."

New CFO Philip de Klerk brings extensive experience in the consumer space

Philip de Klerk is an experienced finance executive, with a particular focus on consumer brands. He recently served as Group CFO of international shoe manufacturer and retailer Clarks. Philip de Klerk started his career at Unilever, where he spent sixteen years in various roles, including CFO for Switzerland and the Benelux region. Following this, he served in senior finance roles with chemicals company Ineos and brewing and beverage company SAB Miller, before he was appointed CFO at the regional airline FlyBe and then CFO and CEO of materials manufacturer Low & Bonar.

Philip de Klerk said: "I am delighted to be joining Europcar Mobility Group for the next stage of its journey and to deliver both transformational and operational improvements. We have strong shareholders and a platform to drive our investments in building a leadership position in mobility."

Combined Shareholders' Meeting of Europcar Mobility Group approves new governance structure

Prior to the appointments of Peter Gowers and Philip de Klerk to the Management Board, Europcar Mobility Group's Combined Shareholders' Meeting was held on June 29. The main shareholder with 87,38 percent is Green Mobility Holding.

The Shareholders' Meeting approved the transition from Europcar Mobility Group's previous one-tier board structure to a two-tier board structure with a Supervisory Board and a Management Board as intended by the consortium as well as the election of Imelda Labbé, Holger Peters, Jan-Christoph Peters, David Alhadeff as well as Janus Smalbraak as members of the Supervisory Board. While Imelda Labbé and Holger Peters from Volkswagen bring experience in platform development and a proven track record in sales and scaling, Jan-Christoph Peters and David Alhadeff of Attestor offer deep transformation expertise, and Janus Smalbraak from Pon Holdings brings broad expertise of customer preferences across a wide range of mobility solutions, including cycling.

Newly appointed Chairman Holger Peters thanks outgoing CEO of Europcar Mobility Group

Following the Combined Shareholders' Meeting, the newly created Supervisory Board held its constituent meeting in which Holger Peters from Volkswagen was appointed Chairman of the Supervisory Board of Europcar Mobility Group. In this first meeting, the Supervisory Board also decided to appoint Peter Gowers as Chairman of the Management Board and Group CEO and Philip de Klerk as member of the Management Board and Group CFO of Europcar Mobility Group with immediate effect.

As already announced on June 16, Alexandre de Juniac, Carl Leaver and Simon Franks have resigned with immediate effect from their roles as members of the Board of Directors following today's Shareholders' Meeting and the approved governance change. Outgoing CEO Caroline Parot will remain as an advisor to the business until the end of July 2022 to support a smooth transition to the new management team.

Holger Peters commented: "Caroline Parot is an outstanding leader, who, together with the company's well trained and highly motivated staff, successfully kicked off Europcar Mobility Group's transformation into a digitally driven mobility provider, while, at the same time, stabilizing the business in the midst of economic and geopolitical turmoil. The Supervisory Board and the company thank her for her great service throughout her time with the business and we wish her well for the future."

Consortium's tender offer for Europcar Mobility Group ends today

Green Mobility Holding, which has launched a tender offer for Europcar Mobility Group in 2021, aims to acquire more than 90 percent of the share capital and voting rights of Europcar Mobility Group. Following the initial tender period, Green Mobility Holding currently holds 87.38 percent of the share capital and at least 87.36 percent of the voting rights of Europcar Mobility Group. Remaining shareholders of Europcar Mobility Group who have not tendered their shares at that time had the opportunity to do so during the supplemental acceptance period that ends today, June 29, 2022. The final results of the consortium's tender offer for the shares of Europcar Mobility Group are expected to be announced on July 5, 2022.

The offer document of Green Mobility Holding S.A. having received visa no. 21-499 from the AMF on November 23, 2021 and the other information document relating to legal, financial, accounting and other characteristics of Green Mobility Holding are available on the websites of the AMF (www.amf-france.org) and Volkswagen (www.volkswagenag.com/en/InvestorRelations/news-and-publications/Europcar_offer.html) and may be obtained free of charge from:

Green Mobility Holding S.A.
19-21, route d'Arlon
8009 Strassen
Luxembourg

Bank of America Europe DAC - Succursale en France
51 rue La Boétie
75008 Paris
France

BNP Paribas
4 rue d'Antin
75002 Paris
France

The response document of Europcar Mobility Group having received visa no. 21-500 from the AMF on November 23, 2021 and the other information document relating to legal, financial, accounting and other characteristics of Europcar Mobility Group are available on the websites of the AMF (www.amf-france.org) and Europcar Mobility Group (www.europcar-mobility-group.com) and may be obtained free of charge at the registered office of Europcar Mobility Group, 13 ter, boulevard Berthier, 75017 Paris, France.

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