Starrag : evaluates a merger with Tornos

Ad hoc announcement pursuant to Art. 53 LR

Starrag evaluates a merger with Tornos

Rorschacherberg, May 30, 2023 - On May 26, 2023, the Board of Directors of Starrag Group Holding AG decided to evaluate a possible merger of the Starrag Group with the Tornos Group. Both groups of companies are active worldwide. They are excellently positioned in their target markets and have a portfolio that is well aligned with customer needs. The market performances of Starrag and Tornos would complement each other excellently. The merger would strengthen the position of both partners and offer great development potential in all areas. In the case of a possible merger, the brands of the Starrag Group and the Tornos brand are to be retained. No job cuts would be planned in this context either.

A possible merger of the two groups Starrag and Tornos and the associated combination of resources and expertise would not only offer the potential for significant synergies in all business areas but would also bring both partners a greater market presence and stronger market penetration. This would result in excellent growth opportunities in all target markets.

In the case of a merger, the Starrag Board of Directors intends to retain the companies' respective local roots.

Talks between Starrag and Tornos on a possible merger are still at a very early stage. Starrag will inform in due course about the results of the evaluation of this merger project and about the next steps of negotiations with Tornos.

In the decision of the Board of Directors of Starrag to evaluate the merger with Tornos, Michael Hauser and Walter Fust abstained from voting due to their material connections to the Tornos Group. Walter Fust is a significant shareholder of Tornos Holding Ltd. and a member of its Board of Directors. Michael Hauser is CEO of the Tornos Group. Should the negotiations come to a successful conclusion, the shareholders of both companies will have to decide on this merger at an extraordinary general meeting.

Starrag Ad hoc announcement pursuant to Art. 53 LR

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High-precision machine tools for greater productivity

Starrag Group is a global technology leader in manufacturing high-precision machine tools for milling, turning, boring and grinding workpieces of metallic, composite and ceramic materials. Principle customers are internationally active companies in the Aerospace, Energy, Industrial, Micromechanics and Transportation sectors. In addition to its portfolio of machine tools, Starrag Group provides integrated technology and maintenance services that significantly enhance customer quality and productivity.

The umbrella brand Starrag unites the product ranges Berthiez, Bumotec, Dörries, Droop+Rein, Ecospeed, Heckert, SIP, Starrag and TTL. Headquartered in Rorschacherberg, Switzerland, the Starrag Group operates manufacturing plants in Switzerland, Germany, France, the UK and India, and has established a network of sales and services subsidiaries in the most important customer countries.

The shares of Starrag Group Holding AG are listed on the SIX Swiss Exchange.

For further information: www.starrag.com

For further information please contact
Martin Buyle	Thomas Erne
CEO	CFO
[e-mail]	[e-mail]

Starrag Ad hoc announcement pursuant to Art. 53 LR

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Upcoming events
∙	Half-Year Report 2023	27 July 2023
∙ Sales and orders 2023	26 January 2024
∙ Key figures 2023 / Annual report	8 March 2024
∙	Annual General Meeting	20 April 2024

The economic projections and predictions contained in this information relate to future facts. Such projections and predictions are subject to risks, uncertainties and changes which cannot be foreseen and which are beyond the control of the issuer. The Starrag Group is therefore not in a position to make any representations as to the accuracy of economic projections and predictions or their impact on the financial situation of the Starrag Group or the market in the securities of the Starrag Group.

Rorschacherberg	Vuadens	Chemnitz	Bielefeld