Heerenveen, the Netherlands - Accell Group (Accell) today took an important step to improve its financial position and reduce its corporate debt by reaching an agreement with a majority of its financial stakeholders. Implementation of the recapitalisation is expected by early Q1 2025. The transaction will lead to a reduction of Accell’s debt by approximately €600 million, or around 40% of the total debt, from approximately €1.4 billion to approximately €800 million in the operating group. The transaction provides for additional cash funding to the business of approximately €235 million. The maturity of the group’s recapitalised debt is extended to 2030. This transaction provides Accell with a sustainable financial structure, a strengthened liquidity position and an ability to invest in the business’ future.

Recently, we shared a business and financial update with our shareholders and business partners informing them on our current performance, the status of the Babboe recall and repair operation, as well as the progress in the execution of our One Accell strategy.

Accell Group appoints Gijsbert de Zoeten (57) as Chief Financial Officer (CFO). Gijsbert has extensive expertise in the financial field. In recent years, he has worked at several international organisations including Unilever and LeasePlan. He worked as CFO in both private equity and listed environments. Gijsbert has experience in various sectors in both B2B and B2C environments. He has been involved in various strategic processes such as mergers and acquisitions and restructurings.

Mevrouw Annemarie Jorritsma - Lebbink is per 1 maart jl. benoemd tot voorzitter Raad
van Commissarissen Accell Group.

Heerenveen, the Netherlands – Accell Group, the European market leader in e-bikes, is
planning to change its manufacturing set-up, simplifying its operating model and
enabling a more efficient production. Accell will combine its two Heerenveen based
facilities and transfer part of the current production to its other European manufacturing
facilities.