Ernst Russ AG: Publication of the acceptance rate for the scrip dividend in 2024

These materials are not an offer of the solicitation of an offer for securities for sale in the United States. The subscription rights and the shares referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended ("Securities Act"). The subscription rights may only be exercised, and the new shares may only be offered or sold, pursuant to an exemption from, or in transactions not subject to, the registration requirement of the Securities Act.

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.

Hamburg, 24 June 2024 - Ernst Russ AG again offered its shareholders a stock dividend for the 2023 financial year. Shareholders thus had the opportunity to choose between receiving their dividend in cash or shares, in full or in part, during the subscription period from 31 May 2024 to 14 June 2024.

In total, shareholders with around 3.0% of the shares entitled to dividends opted to receive their dividend in shares. Shareholders who opted for a cash dividend will receive a total distribution of around EUR 32.5 million. Based on the acceptance rate, 189,025 new shares will be issued, increasing the total number of Ernst Russ shares by approximately 0.6% to 33,689,311 shares in future.

The new shares are expected to be included in trading on the open market of the Frankfurt Stock Exchange (Scale) and the open market of the Hanseatische Wertpapierbörse Hamburg (Mittelstandsbörse Deutschland) on 9 July 2024.

About the Ernst Russ Group: Ernst Russ AG is an internationally operating ship-owner and maritime investment manager based in Hamburg. Parts of the company date back to 1893. The Group currently manages a fleet of 29 fully consolidated vessels. The focus here is on container ships with a capacity of between 700 to 4,200 TEU, complemented by two larger container vessels with approximately 6,600 and 13,400 TEU, respectively, along with a Handysize bulker with 38,000 dwt and a multi-purpose vessel. Ernst Russ AG expands its fleet on an ongoing basis thus ensuring stable and sustainable added value for its shareholders.

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