An agreement has been signed between the shareholders of ÜNTES A.Ş., Üntes Rhoss A.Ş. and Üntes VRF A.Ş., which are located in Turkey, and NIBE Industrier AB, based in Sweden, and RHOSS S.p.A., the Italian subsidiary of the same company, for the sale of up to 50% of the shares of our aforementioned companies and it is expected that this agreement t will enter into force in the first months of 2020 after the completion of the legal procedures.

Sweden-based NIBE Group with a history of 70 years and more than 15.000 employees all around the world and a group turnover of approximately 2.3 billion Euros owns more than 100 subsidiary leading companies which mainly operate mainly in the fields of air conditioning, industrial elements and fireplace (kitchen stove) production. NIBE Group companies also incorporate companies such as RHOSS, Bentone, Climatemaster, which are well known by the air conditioning industry in Turkey. Having important strategic goals in the air conditioning sector, NIBE Industrier AB and ÜNTES aim to take important steps in the world market in the field of central air conditioning systems as a result of the strategic partnership they have established.

ÜNTES A.Ş. and its subsidiaries have been operating in the field of air conditioning since 1968 and have adopted contributing to our country’s economy as its main philosophy by exporting to more than 50 countries during that time. Our company has set it as a strategic goal to contribute more to our country by making great breakthroughs in the field of export with the partnership established. Mr. Gerteric Lindquist, NIBE Group CEO, said that ‘‘UNTES has not only brought NIBE to new markets with its smart, sustainable and high performance air conditioning solutions for commercial areas, but also brought it one step closer to its market leadership target. In this context, the Üntes team will continue its activities under the leadership of Mehmet Şanal.’’

Mehmet Şanal, Chairman of the Board of Directors of Üntes stated that ‘‘As our strategic goals overlap with the strategic goals of the NIBE Group, we see the agreement as an industrially correct and long-term solution for both parties. We now have a worldwide organization with our wide product range that we have obtained as a result of our partnership with NIBE and RHOSS. In the upcoming period, we will continue to contribute to our country by increasing our export figures and reaching a more effective position in the global market.’’

The NIBE Group, which owns more than 100 companies on a global scale, is determined not to interfere with the current management of the companies, shares of which have been bought by it. In this context, ÜNTES A.Ş, under the management of Mr. Mehmet Şanal, will continue its activities for many years with the same enthusiasm and excitement as on the first day.

Respectfully announced to the public!

Mehmet Hakkı Şanal, on behalf of Üntes A.Ş. and its Subsidiaries.