Notice Concerning Acquisition of Shares of Siemens Logistics

News Release Products

[Translation]

Toyota Industries Corporation announced that it has resolved at a Board of Directors meeting held on October 31, 2024 that its subsidiary Vanderlande, a global provider of logistics solutions, will acquire 100% of the issued shares (hereinafter, "the Share Acquisition") of Siemens Logistics including its affiliated companies (hereinafter, "Siemens Logistics"), a subsidiary of Siemens, which operates an airport baggage handling business.*1 Furthermore, a share purchase agreement to acquire Siemens Logistics has been signed.

1. Purpose of the Share Acquisition

The airport baggage handling business, a priority area for Vanderlande, is expected to see further market expansion in line with the increasing global demand for air travel. Additionally, there is a growing need for automated systems that enable flexible and efficient baggage transportation and sorting, in sync with flight and passenger information, due to the ongoing expansion and hub development of airports.
Siemens Logistics has a strong track record in system deployment at major airports worldwide, with strengths in software development using advanced digital technology. Through this acquisition, Vanderlande aims to expand its customer base and offer higher value-added products and services by building upon Siemens Logistics' technological capabilities.

2. Overview of the Share Acquisition

Vanderlande will acquire 100% of the issued shares of Siemens Logistics from Siemens for 300 million euros*2. Completion of this share acquisition requires the approval of regulatory authorities, and closing is expected during the calendar year 2025.

3. Overview of Vanderlande

1) Head office Veghel, North Brabant, Kingdom of the Netherlands
2) Business activities Logistics solutions provider
3) Net Sales Approx. EUR 2.2 billion.
4) Locations Located in 28 countries and regions
5) Employees More than 9,000 (as of the end of March 2024)

4. Overview of Siemens Logistics

1) Head office Nuremberg, Bavaria, Federal Republic of Germany
2) Business activities Products and technologies for baggage and cargo handling, software for the digitalization of logistics processes and lifecycle services
3) Net Sales Approx. EUR 0.55 billion.
4) Locations More than 50 sites in 16 countries and regions
5) Employees More than 2,500 (as of the end of September 2024)

5. Impact on this fiscal year's performance

The impact of the Share Acquisition on the Company's consolidated performance for the current fiscal year is expected to be minimal.

*1 The development and sale of equipment and management systems that automate baggage transportation, storage, and sorting.
*2 Enterprise value. The actual Share Transfer price will be determined after making adjustments to the enterprise value of 300 million euros, regarding items such as cash and deposits, working capital and other assets and liabilities etc. of Siemens Logistics as of the time of the Share Transfer.