EQS-News: Steyr Motors AG: Voluntary public tender offer by SMOT Acquisition GmbH, a subsidiary of Red Cat Holdings, Inc. – Offer price of EUR 39.00 in cash

EQS-News: Steyr Motors AG / Key word(s): Tender Offer
   Steyr Motors AG: Voluntary public tender offer by SMOT Acquisition GmbH, a
   subsidiary of Red Cat Holdings, Inc. – Offer price of EUR 39.00 in cash

   19.10.2026 / 07:32 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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   Steyr Motors AG: Voluntary public tender offer by SMOT Acquisition GmbH, a
   subsidiary of Red Cat Holdings, Inc. – Offer price of EUR 39.00 in cash

   Steyr, Austria, 19 October 2026 – Steyr Motors AG (the “Company”)
   (ISIN [1]AT0000A3FW25), one of the world’s leading companies in the field
   of customized engines for mission-critical defense and civil applications,
   has been informed that SMOT Acquisition GmbH, Vienna, (the “Bidder”),
   intends to make a voluntary public tender offer addressed to all
   shareholders of the Company in the form of a cash offer for all shares in
   the Company (the “Steyr Shares”) (the “Offer”). The Bidder is a wholly
   owned subsidiary of Red Cat Holdings, Inc. (“Red Cat”), a Nevada
   corporation with its principal executive offices in Salt Lake City, Utah,
   United States, listed on the NASDAQ Stock Market under the ticker symbol
   “RCAT”.

   The offer price is EUR 39.00 in cash per Steyr share. The proposed offer
   price represents a premium of 55.8% over the 52-week low of the Steyr
   share and a premium of 28.9% over the share’s Xetra closing price on
   October 16, 2026. The Offer is expected to be subject to customary
   conditions, including foreign direct investment clearances as well as a
   minimum acceptance threshold of 50% plus one Steyr Share. The Bidder
   expects completion of the Offer – subject to regulatory clearances and
   further customary conditions – in the first half of 2027.

   In addition, the Company has been informed that the Bidder has entered
   into an agreement with B&C Holding Österreich GmbH holding approximately
   15.0% of the Steyr Shares. Under this agreement, the shareholder is
   obliged, in accordance with the respective agreement, to accept the Offer
   for all Steyr Shares held by it.

   Steyr Motors has undergone a structural transformation in recent years:
   After CEO Julian Cassutti’s appointment in 2022, a rapid and successful
   turnaround in 2024 was followed by the listing on the Frankfurt Stock
   Exchange, as well as the broadening of the shareholder base after the
   placement of former majority owner Mutares’ remaining stake in 2025. The
   next step with Red Cat continues this trajectory: Steyr’s Austrian
   engineering base gains a strategic partner with the scale, customer access
   and capital to support the next phase – including further development of
   Steyr’s specialized power units and its role in Red Cat’s growing platform
   across unmanned systems.

   Julian Cassutti, CEO of Steyr Motors AG, comments: “Four years into Steyr
   Motors’ transformation, I am very excited to shape its next chapter with
   Red Cat as strategic partner on our side. Our engineering and Red Cat’s
   reach into international markets are the basis for joint growth, and Red
   Cat stands firmly behind our site and our people. For our shareholders,
   the all-cash Offer is a chance to realize their investment in cash today.
   I stand behind this step, and I intend to tender my own shares alongside
   them.”

   Dr. Rolf Wirtz, Chairman of the Supervisory Board of Steyr Motors AG,
   adds: “The potential transaction highlights Steyr Motors’ strategic appeal
   and presents an opportunity to further accelerate international expansion,
   tap into new markets, and sustainably strengthen access to key resources.
   The Supervisory Board sees significant strategic potential in the proposed
   combination. Subject to review of the legal and economic terms and
   conditions such as published in the offer document, we view the potential
   transaction favorably.”

   Red Cat intends to maintain and expand Steyr as an Austrian center of
   excellence. The existing jobs are to be safeguarded, manufacturing and
   research and development will remain on-site. Beyond this planned
   development, Red Cat intends to explore – in dialogue with the management
   and the workforce – the medium-term potential for Steyr to serve as an
   anchor point for expanding Red Cat’s European activities.

   Jeff Thompson, Chief Executive Officer of Red Cat, states: “Steyr Motors
   has built a strong business in Austria with specialized engineering
   talent, trusted customer relationships and proven marine engine
   technology. This proposed transaction is about investing in that
   foundation and helping Steyr Motors grow. We see Austria as central to the
   future of the business, and our goal is to provide additional resources,
   customer access and long-term demand that can support Steyr Motors’
   employees, operations and continued expansion.”

   Conditions and Timeline

   Subject to a positive review based on the final offer documents and the
   adoption of the necessary resolutions by the Management Board and the
   Supervisory Board, the Company intends to publish a final supporting
   statement on the offer. Completion of the proposed Offer is subject to,
   among others, the condition that, at the end of the acceptance period, Red
   Cat holds at least 50% plus one share of Steyr Motors AG.

   Red Cat expects the acceptance period, during which shareholders may
   tender their shares, to commence shortly, and to end on December 18, 2026,
   at 5:00 p.m. CET.

   The complete offer document will be published on a dedicated transaction
   website: [2]https://ir.redcatholdings.com/

   Company profile of Steyr Motors AG

   Headquartered in Steyr, Austria, Steyr Motors AG is a global leader in the
   development and production of high-performance customized special engines
   with high power density and durability. The Company’s engines are
   primarily used for military special vehicles, boats (both military and
   civilian) and as auxiliary power units (“APU”) for main battle tanks and
   locomotives.

   About Red Cat Holdings, Inc.

   Red Cat (Nasdaq: RCAT) is a U.S.-based provider of advanced all-domain
   drone and robotic solutions for defense and national security. Through its
   integrated portfolio of trusted U.S. and allied hardware and software, Red
   Cat supports military, government, and public safety operations across
   air, land, sea and space. Its systems span small unmanned aircraft
   systems, uncrewed surface vessels, wireless power transfer technology, and
   autonomous swarming software to enhance situational awareness, operational
   effectiveness, and mission safety. Learn more at [3]https://redcat.red/

   For further information, please contact:

   Steyr Motors AG
   Investor Relations
   Phone: +436766222367
   E-mail: [4][email protected]
   [5]www.steyr-motors.com

   Press Contact
   CROSS ALLIANCE communication GmbH
   Susan Hoffmeister
   Phone: +49 89 125 09 0333
   E-mail: [6][email protected]
   [7]www.crossalliance.de

   Legal notice:

   This announcement constitutes neither an offer to purchase securities nor
   a solicitation of an offer to purchase or sell securities of Steyr Motors
   AG.

   Certain statements herein are forward-looking statements. They are based
   on the current expectations and assessments of the Management Board and
   are subject to risks and uncertainties. Actual developments and results
   may differ materially from the expectations expressed or implied in these
   statements due to various factors.

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   19.10.2026 CET/CEST This Corporate News was distributed by [8]EQS Group

   View original content: [9]EQS News

   ══════════════════════════════════════════════════════════════════════════

   Language:    English
   Company:     Steyr Motors AG
                Im Stadtgut B1
                4407 Steyr
                Austria
   Phone:       +43 7252 2220
   E-mail:      [email protected]
   Internet:    https://www.steyr-motors.com/de/
   ISIN:        AT0000A3FW25
   WKN:         A40TC4
   Listed:      Regulated Unofficial Market in Frankfurt (Scale); Vienna
                Stock Exchange (Vienna MTF)
   LEI Code:    529900I7M6Z1HG0L8440
   EQS News ID: 2417622


    
   End of News EQS News Service


   2417622  19.10.2026 CET/CEST

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