Response from the board of directors on the Bondalti's takeover bid

Reference is made to the request for authorisation of a voluntary takeover bid for 100% of the Company's share capital, at a price of EUR 3.60 per share (the "Offer") submitted on 5 March 2024 by Bondalti Ibérica, S.L.U (the "Offeror"). The terms and conditions of the Offer are described in the inside information published by the Offeror on that date under registration number 2.154.

It is noted that the board of directors of Ercros had no prior knowledge of the Offer, and therefore, it is an unsolicited and previously unagreed Offer with the Company.

The board of directors and the management team of Ercros will continue to diligently manage the Company's business in the ordinary course of its activities, safeguarding the social interest and fully respecting the obligations established by applicable regulations.

Additionally, the board of directors is in the process of appointing a financial advisor and a legal advisor to assist during the Offer process in fulfilling their duties and safeguarding the interests of the Company's shareholders.

Finally, the board of directors, with the assistance of its financial and legal advisors, will provide a statement in due course on the Offer, once authorized by the National Securities Market Commission and within specified timeframe according to the applicable regulations.