German Federal Financial Supervisory Authority approves TRATON IPO prospectus

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Following the announcement of the price range for the planned TRATON IPO by sole shareholder Volkswagen AG, the German Federal Financial Supervisory Authority (BaFin) today approved the securities prospectus.

Andreas Renschler, CEO of TRATON and member of the Board of Management of Volkswagen, said: “The whole team at TRATON has worked hard and diligently to reach this point. Now roadshow and bookbuilding will begin. We will now meet investors across the globe to convey our TRATON story and the future potential of the Group. We are confident that we will then be able to ring the Stock Exchange bell before the end of June if the market stays reasonable.”

Volkswagen and TRATON entered into a cornerstone investor agreement with the Swedish pension fund AMF Pensionsförsäkring AB (AMF). The fund has agreed to subscribe TRATON shares worth EUR 200 million. The investment is valid throughout the entire price range. The final number of shares subscribed by AMF depends on the placement price.

The price range for the shares has been set at EUR 27 to EUR 33 per share, corresponding to approximately SEK 288.92 to SEK 353.12, as calculated based on the EUR/SEK exchange rate on June 13, 2019, at 17.00 CEST. The first day of trading is expected on June 28, 2019.

Citigroup, Deutsche Bank, Goldman Sachs International and J.P. Morgan are acting as Joint Global Coordinators in connection with the planned transaction. BofA Merrill Lynch, Barclays, BNP PARIBAS, SEB as well as UniCredit Bank AG are Joint Bookrunners and COMMERZBANK, HSBC, Société Générale and Landesbank Baden-Württemberg have been appointed as Co-Lead Managers.

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