Forsee Power Clarifies the Crossing of a Technical Threshold by Mitsui & Co, Ltd.

PARIS--(BUSINESS WIRE)--Regulatory News:

Forsee Power (FR0014005SB3 - FORSEE - the "Company"), expert in smart battery systems for sustainable electromobility, provides clarification regarding the technical threshold crossing by Mitsui & Co, Ltd.

On February 6, 2024, Mitsui & Co, Ltd declared that it had crossed below the threshold of 25% of the company's voting rights and held 19,064,883 FORSEE POWER shares representing 21,129,766 voting rights, i.e. 26.65% of the company's¹ capital and 23.97% of its voting rights. This downward threshold crossing is in no way the result of a withdrawal from the capital of Mitsui & Co, Ltd. It is a technical threshold crossing resulting from the loss of double voting rights following the early conversion to bearer form of part of their FORSEE POWER shares, with the aim of ensuring that Mitsui & Co, Ltd does not exceed the threshold of 30% of voting rights, which would trigger the filing of a mandatory public tender offer. This conversion to bearer shares is in no way the result of a strategic decision.

About Forsee Power
Forsee Power is a French industrial group specializing in smart battery systems for sustainable electric transport (light vehicles, off-highway vehicles, buses, trucks, and trains). A major player in Europe, Asia and North America, the Group designs, assembles, and supplies energy management systems based on cells that are among the most robust in the market and provides installation, commissioning, and maintenance on site and remotely. More than 3,000 buses and 135,000 LEV have been equipped with Forsee Power’s batteries. The Group also offers financing solutions (battery leasing) and second-life solutions for transport batteries. Forsee Power and its 850 employees are committed to sustainable development and the Group has obtained the Gold medal from leading sustainability rating agency EcoVadis. For more information: www.forseepower.com | @ForseePower

¹ Based on a share capital of 71,550,727 shares representing 88,144,817 voting rights, pursuant to paragraph 2 of Article 223-11 of the General Regulations.