B&C Group intends to support the voluntary public takeover offer (Red Cat Announces Proposed Voluntary Public Purchase Offer for Steyr Motors) for Steyr Motors AG announced today by U.S.-based drone and robotics company Red Cat Holdings, Inc. and to tender all shares it holds into the offer.

In 2024, B&C Group supported the initial public offering of Steyr Motors AG as a cornerstone investor and has since remained an anchor shareholder, supporting the company’s further development.

With Red Cat Holdings, Inc. as its strategic owner, Steyr Motors AG has the opportunity to embark on the next phase of its corporate development. The combination offers growth opportunities in existing business areas as well as access to new end markets in the defense sector, particularly in the unmanned surface vessel (USV) segment. As a U.S.-based strategic investor, Red Cat Holdings, Inc. can also advance Steyr Motors’ international expansion and entry into additional markets. A long-term commitment to the Steyr site has also been agreed with Red Cat Holdings, Inc. Production activities and key research and development functions will continue at the site for several years, anchoring value creation, technological know-how and industrial expertise in Austria. From B&C Group’s perspective, this provides a promising foundation for the long-term development and further growth of Steyr Motors AG and its production site in Steyr.

The planned sale is in line with the evolution of B&C Group’s investment strategy, presented in 2024. The strategy aims to support the sustainable development and value creation of its portfolio companies and to align their ownership structures with their respective strategic requirements. The planned transition of Steyr Motors AG to a strategic owner with additional technological capabilities and international growth prospects is consistent with this approach.

About B&C Group
The B&C Private Foundation (www.bcprivatstiftung.at) is an independent foundation. Since its inception in December 2000, its goal has been to foster Austrian entrepreneurship and strengthen Austria’s position as a business hub. B&C acts as a stable core shareholder in Austrian industrial companies through its holding companies, the B&C Group (www.bcgruppe.at). Its holdings include the listed companies e.g. AMAG Austria Metall AG, Frequentis AG, Lenzing AG, Semperit AG Holding, Steyr Motors AG and Zumtobel Group. In addition, B&C Group holds stakes in unlisted companies such as TTTech Computertechnik AG and, through B&C Innovation Investments (BCII, www.innovation-investments.at), in selected IndustrialTech scale-ups. The B&C Private Foundation fosters Austria’s development as a business location through numerous projects and initiatives. These include the Houska Prize (www.houskapreis.at), the initiative for innovation and location research eXplore! (www.explore.university) and MEGA Foundation for Education (www.megabildung.at), as well as projects and expert events in the field of law and economics research.

About Steyr Motors
Steyr Motors AG, headquartered in Steyr, Austria, is a global leader in the development and production of high-performance customized special engines with high power density and durability. The Company’s engines are primarily used for military special vehicles, boats (both military and civilian) and as auxiliary power units (“APU”) for main battle tanks and locomotives.

About Red Cat
Red Cat (Nasdaq: RCAT) is a U.S.-based provider of advanced all-domain drone and robotic solutions for defense and national security. Through its integrated portfolio of trusted U.S. and allied hardware and software offerings, Red Cat supports military, government, and public safety operations across air, land, sea and space. Its systems span small unmanned aircraft systems, uncrewed surface vessels, wireless power transfer technology, and autonomous swarming software to enhance situational awareness, operational effectiveness, and mission safety. Learn more at www.redcat.red.