Ranshofen, October 25, 2023

AMAG Austria Metall AG: CEO Mayer leaves the company at the turn of the year

• Departure on best terms after 16 years on the Management Board
• Supervisory Board has started the process of finding a successor

After approximately 16 years on the Management Board of AMAG Austria Metall AG (AMAG), Gerald Mayer has expressed his wish to terminate his Management Board contract prematurely by mutual agreement in order to pursue new professional challenges. At today’s Supervisory Board meeting the Supervisory Board unanimously approved this request. Gerald Mayer has been Chief Financial Officer of AMAG since 2007 and was additionally appointed Chief Executive Officer as of March 1, 2019. During his time on the Management Board, important strategic decisions were made and, among other things, AMAG was successfully listed on the Vienna Stock Exchange.

Herbert Ortner, Chairman of the Supervisory Board of AMAG Austria Metall AG, comments: „Gerald Mayer has played a major role in shaping the positive development of AMAG. In addition to important strategic milestones, the effects of geopolitical crises as well as the COVID-19-pandemic were recently managed in an exemplary manner. We regret the step, but at the same time show understanding for it and wish him all the best for the further course of his life. The process to find a successor has immediately been initiated.”

The clear objective of the Supervisory Board is to ensure an orderly handover to the new CEO and thus to continue AMAG’s profitable growth course.

Gerald Mayer, CEO of AMAG Austria Metall AG, comments: "I am grateful that I have been able to contribute to the development of AMAG in 16 years on the Management Board together with an outstanding team. AMAG was able to more than double its revenue during this time and is undoubtedly recognised worldwide as a producer of high quality specialty products with a proven recycling strength. I am convinced of the positive future of AMAG, but for me the time has come for a professional change. I would like to thank the Supervisory Board, my colleagues on the Management Board and the entire AMAG-team for the trust they have placed in me and their understanding for this step."

With Helmut Kaufmann, Chief Operating Officer of AMAG and Victor Breguncci, Chief Sales Officer of AMAG, two experienced experts continue on the Management Board of AMAG. Helmut Kaufmann’s Management Board contract was prematurely extended in the previous year until April 30, 2026. Helmut Kaufmann – as well as Gerald Mayer – has already been on the Management Board of AMAG since 2007. Victor Breguncci has been a member of the Management Board since 2019. His contract was already extended early in 2021, until May 31, 2026. The stability of the Management Board team is thus ensured.

About the AMAG Group

AMAG is a leading Austrian premium supplier of high-quality aluminium cast and flat rolled products for highly varied industries such as the aircraft, automotive, sports equipment, lighting, mechanical engineering, construction and packaging industries. The Canadian smelter Alouette, in which AMAG holds a 20 % interest, produces high-quality primary aluminium, while maintaining an exemplary net ecological impact. At AMAG components, based in Übersee am Chiemsee (Germany), ready-to-install metal parts are also manufactured for the aircraft industry.

Note

The forecasts, budgets and forward-looking assessments and statements contained in this publication were compiled on the basis of all information available to AMAG as of the present time. In the event that the assumptions underlying these forecasts prove to be incorrect, targets be missed, or risks materialise, actual results may diverge from those currently anticipated. We are not obligated to revise these forecasts in the light of new information or future events.

This publication was prepared and the data contained in it verified with the greatest possible care. Nevertheless, misprints and rounding and transmission errors cannot be ruled out entirely. In particular, AMAG and its representatives do not assume any responsibility for the completeness and correctness of information included in this publication. This publication is also available in German. In cases of doubt, the German-language version takes precedence.

This publication does not comprise either a recommendation or a solicitation to either purchase or sell securities of AMAG.