With the modification of its offer document published today, the Schaeffler Group waives certain closing conditions relating to the preparation of capital measures, such as resolutions of the boards of Continental AG.

With this waiver, the Schaeffler Group is reacting to speculation in the market that its offer to the shareholders of Continental AG could already be obstructed by such preparatory measures.

However, the Schaeffler Group expressly points out that the offer of the Schaeffler Group is still subject to the condition that such capital measures are not implemented prior to expiry of the acceptance period.

The Schaeffler Group, currently the largest shareholder of Continental AG with a stake of slightly more than eight percent, considers the implementation of capital measures as unjustifiable, since they would not be in the interests of the shareholders of Continental AG. Against the background of the commitments the Schaeffler Group has publicly made towards Continental AG on numerous occasions, the executive and supervisory boards are legally obligated to abstain from measures that are only aimed at fending off the offer and try to undermine the shareholders’ freedom of decision with regard to the acceptance of the offer.

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