Prospectus for IPO of Porsche AG published

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Prospectus for #ipo of #porscheag published

Price range for Preferred Shares set at EUR 76.50 to EUR 82.50 per share
Price range corresponds to a placement volume (including possible over-allotments) of EUR 8.71 bn to EUR 9.39 bn
Offer period will commence on 20 September 2022 and is expected to end on 28 September 2022
QIA, Norges Bank Investment Management, T. Rowe Price and ADQ will subscribe Preferred Shares worth up to EUR 3.68 billion in total as cornerstone investors if the final offer price comes in at the top end of the range

Stuttgart. The Dr. Ing. h.c. F. #porscheag ("Porsche AG" and, together with its consolidated subsidiaries, the "Porsche Group" or "Porsche") is on track with its planned initial public offering ("IPO"). Following the announcement by Volkswagen AG of the price range for the non-voting preferred bearer shares with no par value of #porscheag ("Preferred Shares"), #porsche has published the securities prospectus in connection with the #ipo today.

"We are on track - we believe #porscheag, with its robust business model and compelling financial performance, is ready to launch its IPO", says #lutzmeschke, Deputy Chairman of the Executive Board and Board Member responsible for Finance and IT of #porscheag.

In preparation for the #ipo, the share capital of #porscheag has been divided into 911 million shares, 50% of which are Preferred Shares and 50% of which are ordinary bearer shares. A total of up to 25% of the Preferred Shares, comprised of (i) 99,021,740 Preferred Shares as part of the base offering and (ii) 14,853,260 Preferred Shares in connection with a potential over-allotment, is being offered to investors from the holdings of #porsche Holding #stuttgart GmbH (the "Selling Shareholder"). The Preferred Shares will be publicly offered to investors in Germany, Austria, France, Italy, Spain and Switzerland, as well as through private placements in certain other jurisdictions in accordance with applicable regulations.

As announced by Volkswagen AG on 18 September 2022, the price range for the Preferred Shares has been set at EUR 76.50 to EUR 82.50 per Preferred Share, corresponding to a placement volume including possible over-allotments of EUR 8.71 bn to EUR 9.39 bn. Volkswagen AG will receive all of the proceeds of the #ipo.

The offering period will commence on 20 September 2022 and is expected to end on 28 September 2022. The Preferred Shares are expected to list and begin trading on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) on or around 29 September 2022.

The Qatar Investment Authority (QIA) has committed to acquire 4.99% of the preferred share capital of #porscheag as cornerstone investor in the #ipo, corresponding to an amount of EUR 1.74 billion to EUR 1.88 billion depending on the final pricing within the price range. Furthermore, Norges Bank Investment Management, T. Rowe Price and ADQ have committed to subscribe for Preferred Shares with a total value of EUR 750 million, EUR 750 million and EUR 300 million respectively as cornerstone investors within the price range.

The securities prospectus is available on Porsche's website www.porsche.com/ipo.

The Joint Global Coordinators and Joint Bookrunners for the #ipo are BofA Securities, Citigroup, Goldman Sachs and J.P. Morgan. BNP Paribas, Deutsche Bank, Morgan Stanley, Santander, Barclays, Société Générale and UniCredit have been mandated as Joint Bookrunners. Commerzbank, Crédit Agricole, LBBW and Mizuho have been appointed as co-lead managers. Mediobanca is acting as financial advisor to #porscheag.

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