Cherry SE acquires Swedish specialist for e-sports equipment Xtrfy Gaming AB

Munich, December 14, 2022 – Cherry SE [ISIN: DE000A3CRRN9] is expanding its strategic competitive position with the acquisition of a Swedish specialist for e-sports equipment. Cherry SE is to acquire all of the shares in Xtrfy Gaming AB, Landskrona (Sweden) and Built on Experience AB, Landskrona (Sweden) (together "Xtrfy").

"With this acquisition we are broadening our access to the growing gaming and e-sports community and bolstering our resources in the fields of product management and marketing, both through distributors and in the B2C business," commented Rolf Unterberger, CEO of Cherry SE. "Furthermore, we intend to leverage Xtrfy's direct network in the international e-sports scene for the strategic expansion of our GAMING business area. We welcome the entire Xtrfy team to our global CHERRY family and look forward to working together to make our joint offering of innovative, high-quality gaming devices more compelling than ever."

"We are delighted to have the opportunity to become a key part of CHERRY in the world of gaming with our product portfolio, which is highly regarded both in the e-sports community and by external testers, such as the world's first lightweight mouse with an ergonomic design and our customizable gaming keyboards," added Joakim Jansson, CEO and co-founder of Xtrfy. "In addition to ensuring quality and functionality in the premium segment, our development activities focus in particular on the design and the ergonomics of our products. As such, our patent-protected products ideally complement CHERRY's existing GAMING portfolio."

Xtrfy was founded in 2013 in Landskrona, Sweden by CEO Joakim Jansson and CTO Erik Jensen and currently employs 12 people. Xtrfy develops its products in close collaboration with leading international professional gamers at the Landskrona facility; its current range of innovations focuses mainly on mice and keyboards as well as other peripherals such as specialty mouse pads and headsets.

In addition, Xtrfy owns a number of patents and trademarks in its core markets. With sole ownership of the specialized tooling required for production by various external partners in China, Xtrfy is additionally securing the competitive edge created by its exceptional product design.

The main distribution channels are a network of distributors in the core markets of Europe (primarily Nordic countries), Asia, and North America. Moreover, Xtrfy operates its own online store for conducting D2C business. The logistics are managed via the company's own warehouses at Landskrona (Sweden), Boston (USA), and Shanghai (China).

The first-time consolidation is planned as of the fiscal year 2023.

More information on Xtrfy is available online at: https://xtrfy.com/.

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About Cherry

Cherry SE [ISIN: DE000A3CRRN9] is a globally operating manufacturer of high-end mechanical keyboard switches and computer input devices such as keyboards, mice, and headsets for applications in the worlds of gaming, e-sports, office and hybrid workplaces, industry, and healthcare. Since it was founded in 1953, Cherry has been synonymous with innovative, high-quality products developed specifically to meet the various needs of its customers.

Cherry has its operational headquarters in Auerbach in Germany's Upper Palatinate region and employs over 500 people in production facilities in Auerbach, Zhuhai (China), and Vienna (Austria) as well as in various sales offices in Auerbach, Pegnitz, Munich, Paris, Kenosha (USA), Taipei, and Hong Kong.

More information is available online at: https://cherry.de/

Contact:

Dr. Kai Holtmann

Investor Relations

Einsteinstraße 174, c/o Design Offices Bogenhausen, 81677 Munich, Germany

Postal address: Cherrystrasse 2, 91275 Auerbach, Germany

T +49 (0)175-1971503

F +49 (0)9643 20 61-900

E-mail: kai.holtmann@cherry.de