EQT Infrastructure VI, managed by EQT AB (publ) (OM:EQT) made an offer to acquire OX2 AB (publ) (OM:OX2) from Peas Industries Invest AB and others for SEK 16.4 billion on May 13, 2024. As per the terms of the transaction, the offer price per share is SEK 60. OX2 AB has formed the independent bid committee consisted of the board members Niklas Midby, Malin Persson and Ann Grevelius. As a part of transaction, there are currently no decisions on any material changes that may impact OX2s employees and management or the existing organisation and operations, including the terms of employment and locations of the business. The independent bid committee of the board of directors of OX2 has unanimously decided to recommend shareholders of the Company to accept the Offer. The Offer is not subject to any financing conditions. The cash consideration payable in respect of the Offer is financed in full by funds available to Otello BidCo by way of an equity commitment letter issued by EQT Infrastructure VI EUR SCSp and EQT Infrastructure VI USD SCSp. Completion of the Offer is conditional upon, among other things, the Offer being accepted to such extent that Otello EQT Infrastructure becomes the owner of more than 50% of the shares in the Company as well as the receipt of all regulatory, governmental or similar clearances, approvals and decisions that are necessary for the Offer. The acceptance period for the Offer is expected to commence on or around June 25, 2024, and expire on or around October 14, 2024. As of May 16, 2024, EQT AB acquired 16,883,351 shares in OX2 (corresponding to 6.20 percent of the shares and votes in OX2) in the market at the Offer Price. Together with the irrevocable undertaking to accept the Offer obtained from Peas Industries AB, representing approximately 45.56 percent of the shares and votes in OX2, Otello BidCo has secured 51.76 percent of the shares and votes in OX2, which means that the required acceptance level for the Offer has been secured. If Otello BidCo, whether in connection with the Offer or otherwise, acquires shares representing more than 90 percent of the total number of shares in OX2, Otello BidCo intends to commence compulsory redemption proceedings under the Swedish Companies Act (2005:551) to acquire all remaining shares in OX2 and to promote delisting of OX2?s shares from Nasdaq Stockholm.

Ernst & Young Corporate Finance AB provided the fairness opinion, Goldman Sachs Bank Europe SE, Sweden Bankfilial acted as a financial adviser and Carl Westerberg, Gabriel Zsiga and Foad Hoseinian of Gernandt & Danielsson Advokatbyrå acted as a legal adviser to independent bid committee. Sofie Bjärtun, Erik Sjöman, Linnéa Sellström, Joel Magnusson, Christoffer Thalin, Peter Sundgren, Filip Öhrner, Daniel Daun, Niklas Törnell, Sebastian Örndahl, Tilda Hall, Sam Seddigh, Fredrika Hjelmberg and Julia Ulander Kull of Advokatfirman Vinge Stockholm Ab acted as legal advisor to EQT AB. Otello BidCo and EQT Infrastructure VI have retained Rothschild & Co Nordic AB as lead financial advisor, Carnegie Investment Bank AB as financial advisor, Simpson Thacher & Bartlett LLP as legal advisors in connection with the Offer.