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.

Heerenveen, the Netherlands - Accell Group, a leading European manufacturer of bicycles, bicycle parts and accessories and scale-up Refurb Battery will further expand and intensify their collaboration. This follows the successful pilot to reuse 5,000 discarded electric bike batteries which led to the reduction of CO2 emissions by more than 100 tons in recent months. Refurb Battery is a Dutch scale-up which develops circular energy storage systems based on used Lithium battery cells.