Tognum welcomes increased offer

Friedrichshafen, 16 May 2011. Daimler AG and Rolls-Royce Group plc and Engine Holding GmbH have today confirmed in a written agreement with Tognum AG that they will increase the offer price by an additional 8.3 percent to EUR 26.00 per share. In addition the written agreement contains declarations of intent concerning the continuation of the cornerstone agreement, the composition of the supervisory board and the current as well as the already communicated future composition of the management board. The letter also contains statements on the investment agreement and the shareholder agreement between the shareholders of the bidder as well as on the potential purchase of the fuel cell business.

The executive board and the evaluation committee of the supervisory board of Tognum AG established for purposes of the tender offer has already deliberated on the amended offer in an extraordinary meeting on Sunday 15 May. In principal, both bodies welcome the increased offer subject to a final examination. Executive board and supervisory board will issue a supplementary statement pursuant to section 27 of the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz, WpÜG) in due course after the publication of the amended offer.

All members of the executive board and the supervisory board holding Tognum shares declared in the Sunday meeting that they will tender their shares subject to the issuence of a positive supplementary statement pursuant to section 27 WpÜG.