SMA Annual General Meeting grants discharge to the Managing Board and Supervisory Board Change to the Supervisory Board

Approximately 80 shareholders attended SMA’s virtual Annual General Meeting live. The voting presence was 58.5 percent.

The Annual General Meeting followed the proposal of the Management Board and Supervisory Board not to distribute a dividend for the 2024 fiscal year. SMA generated sales of €1,530 million and operating earnings before depreciation, interest, and taxes (EBITDA) of €–16 million in 2024. The result was significantly impacted by one-time charges for inventory write-downs and restructuring expenses related to the group-wide restructuring and transformation program initiated in September 2024.

At the Supervisory Board meeting held after the Annual Shareholders‘ Meeting, Dr. Ralph Lässig was elected Chairman. The members elected Uwe Kleinkauf, the previous chairman who had announced in advance that he would not be available for the position, as his deputy.

In addition to the shareholder representatives Dr. Ralph Lässig (Chairman of the Supervisory Board), Constanze Hufenbecher, Dr. Frank Possel-Dölken, Uwe Kleinkauf (Deputy Chairman), Ilonka Nussbaumer and Jan-Henrik Supady, Martin Breul, Oliver Dietzel, Romy Siegert, Lidia Thelemann, Dr. Matthias Victor, and Jörg Wienand represent the employee side on the twelve-member, equally divided SMA Supervisory Board.

The new SMA Supervisory Board Chairman, Dr. Ralph Lässig, has nearly 30 years of experience in the automotive, mechanical engineering, industrial automation, and electronics industries. He was Head of Business Development at Knorr-Bremse, Director at AlixPartners, and Partner at Roland Berger and the Boston Consulting Group. In these roles, he has led over 200 projects on strategic and operational topics. Since 2023, he has been working as an independent strategy consultant and interim manager and is a member of the Supervisory Board of the ODU Group.

Photos of the new Supervisory Board members can be found in the appendix of the press release. Further information on all Supervisory Board members is available at the SMA SMA Website.

The presentation and speech of the Executive Board, an overview of the composition of the Supervisory Board, and further information on the Annual General Meeting are available on the SMA Investor Relations Homepage.

Disclaimer:

This press release serves only as information and does not constitute an offer or invitation to subscribe for, acquire, hold or sell any securities of SMA Solar Technology AG (the “Company”) or any present or future subsidiary of the Company (together with the Company, the “SMA Group”) nor should it form the basis of, or be relied upon in connection with, any contract to purchase or subscribe for any securities in the Company or any member of the SMA Group or commitment whatsoever. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended.

This press release can contain future-oriented statements. Future-oriented statements are statements which do not describe facts of the past. They also include statements about our assumptions and expectations. These statements are based on plans, estimations and forecasts which the Managing Board of SMA Solar Technology AG (SMA or company) has available at this time. Future-oriented statements are therefore only valid on the day on which they are made. Future-oriented statements by nature contain risks and elements of uncertainty. Various known and unknown risks, uncertainties and other factors can lead to considerable differences between the actual results, the financial position, the development or the performance of the corporation and the estimates given here. These factors include those which SMA has discussed in published reports. These reports are available on the SMA website at www.SMA.de. The company accepts no obligation whatsoever to update these future-oriented statements or to adjust them to future events or developments.