EQS-Adhoc: Steyr Motors AG: Conclusion of a Business Combination Agreement with Red Cat Holdings, Inc. and SMOT Acquisition GmbH

EQS-Ad-hoc: Steyr Motors AG / Key word(s): Tender Offer
   Steyr Motors AG: Conclusion of a Business Combination Agreement with Red
   Cat Holdings, Inc. and SMOT Acquisition GmbH

   21-Oct-2026 / 13:57 CET/CEST
   Disclosure of an inside information acc. to Article 17 MAR of the
   Regulation (EU) No 596/2014, transmitted by [1]EQS News - a service of
   [2]EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   Disclosure of inside information pursuant to Article 17 of Regulation (EU)
   No. 596/2014

   Steyr Motors AG: Conclusion of a Business Combination Agreement with Red
   Cat Holdings, Inc. and SMOT Acquisition GmbH

   Steyr, Austria, 21 October 2026 – The Management Board of Steyr Motors AG
   (the “Company”) (ISIN: [3]AT0000A3FW25 / LEI: 529900I7M6Z1HG0L8440) today,
   on behalf of the Company and with the approval of the Supervisory Board,
   entered into a business combination agreement (the “Business Combination
   Agreement”) with SMOT Acquisition GmbH, with its registered office in
   Vienna (the “Bidder”), and its parent company Red Cat Holdings, Inc. (“Red
   Cat”), a corporation incorporated under the laws of the U.S. State of
   Nevada with its principal executive offices in Salt Lake City, Utah,
   United States, listed on the NASDAQ Stock Market under the ticker symbol
   “RCAT”. The Management Board and the Supervisory Board of the Company have
   each previously unanimously resolved upon the conclusion and
   implementation of the Business Combination Agreement.

   The Business Combination Agreement sets out the principles and the process
   of the voluntary public tender offer by the Bidder to the shareholders of
   the Company already announced by the Bidder on 19 October 2026 (the
   “Offer”). The key terms already published remain unchanged: the offer
   price is EUR 39.00 in cash per share in the Company (“Steyr Share”), the
   minimum acceptance threshold is 50% plus one Steyr Share, and B&C Holding
   Österreich GmbH has undertaken to accept the Offer for its approximately
   15% of the Steyr Shares.

   Red Cat has undertaken, for a period of three years from settlement of the
   Offer, not to cause a relocation of the Company’s registered office,
   manufacturing or research and development from the Steyr site. Red Cat has
   further undertaken, for a period of two years, not to cause any
   terminations for operational reasons of technical employees and not to
   cause the Company to reduce the remaining current workforce.

   Pursuant to the Business Combination Agreement, the Bidder does not intend
   any changes to the Management Board. The size of the Supervisory Board is
   to remain unchanged. Following settlement of the Offer, Red Cat intends to
   be represented on the Supervisory Board in proportion to the size of its
   shareholding.

   In the event that, following settlement of the Offer, the Bidder requests
   a delisting of the Steyr Shares from the Scale segment of the Frankfurt
   Stock Exchange and from the direct market plus of the Vienna Stock
   Exchange, or pursues a squeeze-out of the minority shareholders under the
   Austrian Squeeze-out Act (Gesellschafter-Ausschlussgesetz – GesAusG) or
   other structural measures in respect of the Company, the Company has
   undertaken, subject to the duties of care and fiduciary duties of the
   Management Board, to support the implementation of such measures.

   The Management Board and the Supervisory Board welcome the Offer and,
   subject to the review of the offer document in accordance with their
   duties of care and loyalty, will recommend its acceptance in a reasoned
   statement.

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

   For more information, please contact:

   Steyr Motors AG
   Investor Relations
   Phone: +43 676 6222367
   Email: [4][email protected]
   [5]www.steyr-motors.com

   Press Contact
   CROSS ALLIANCE communication GmbH
   Susan Hoffmeister
   Phone: +49 89 125 09 0333
   Email: [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.

   This announcement contains information that is required to be published
   pursuant to Article 17 of Regulation (EU) No. 596/2014 (Market Abuse
   Regulation).

   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.

   This announcement is published on behalf of Steyr Motors AG by Julian
   Cassutti (CEO, Chairman of the Management Board) and Björn Krausmann (CFO,
   Member of the Management Board).

    

   End of Inside Information

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   21-Oct-2026 CET/CEST News transmitted 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: 2419478


    
   End of Announcement EQS News Service


   2419478  21-Oct-2026 CET/CEST

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