Authorization of the Council of Ministers of the Bondalti's takeover bid

Reference is made to the communication of relevant information sent by Bondalti Ibérica, S.L.U. to the National Securities Market Commission (CNMV) about the authorization of the Council of Ministers to the takeover bid for Ercros and which is shown below:

"In relation to the request for authorization of the voluntary takeover bid for the acquisition of shares (the “Offer”), formulated by the Offeror for all the shares of Ercros, S.A., presented and published as privileged information on March 5, 2024 (registration number 2154), which was admitted for processing by the CNMV on March 20, 2024, it is noted that the Council of Ministers has resolved, at its meeting on June 11, 2024, following a favorable report from the Foreign Investment Board, authorize without conditions the foreign investment of the Offeror and its final investor in the Spanish company Ercros, S.A.

The authorization of the foreign investment resulting from the Offer has been granted in accordance with the provisions of article 7 bis of Law 19/2003, of July 4, on the legal regime of capital movements and economic transactions with the abroad and on certain measures to prevent money laundering and Royal Decree 571/2023, of July 4, on foreign investments.

The aforementioned authorization, in accordance with art 26.2 of Royal Decree 1066/2007, of July 27, on the regime of takeover bids, was required prior to the authorization of the Offer by the CNMV. Consequently, the prior authorization provided for in section 9 of the request for authorization of the Offer mentioned above (“Prior authorization of article 26.2 of Royal Decree 1066/2007”) has been obtained.

In relation to the condition to which the effectiveness of the Offer referred to in section 10 (iii) of the request for authorization was subject, consisting of authorization or, where appropriate, non-opposition by the European Commission in accordance with the Foreign Subsidies Regulation, it is reported that it has been found that the requirements to need this authorization are not met, so this condition has declined".