Management and Supervisory Boards of Steyr Motors AG Recommend Acceptance of Red Cat's Purchase Offer

Steyr Motors AG’s Management and Supervisory Boards unanimously recommended that shareholders accept SMOT Acquisition GmbH’s tender offer, backed by Red Cat Holdings. They consider the €39.00-per-share offer fair and attractive, a view supported by a PwC fairness opinion; it represents a roughly 29% premium to Steyr Motors’ Xetra closing price on October 16, 2026. Anchor shareholder B&C and CEO Julian Cassutti have committed to tender their shares, and the offer is open until December 18, 2026.