Ottobock SE & Co. KGaA

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Duderstadt, 29 September, 2025   Shares of Ottobock SE & Co. KGaA will be offered at a price range of EUR 62.00 to EUR 66.00 per share. The price range reflects a market capitalization of approximately EUR 4.0 billion up to approximately EUR 4.2 billion. Ottobock targets an offer volume between approximately EUR 766 million and approximately EUR 808 million. The expected free float is approximately 19% if the maximum number of approximately 1.6 million newly issued and approximately 9.1 million existing shares are placed at the lower end of the price range and the greenshoe option of approximately 1.6 million existing shares is exercised in full. Kühne Holding AG and SMALLCAP World Fund Inc., a Capital Group fund, committed to purchase shares as cornerstone investors. Targeted gross proceeds of around EUR 100 million from the placement of new shares as part of a capital increase are intended to strengthen financial flexibility and growth opportunities of the company. The offer period is expected to commence on 30 September 2025 and expected to end on 7 October 2025; the first day of trading on the Frankfurt Stock Exchange is scheduled for 9 October 2025.   Ottobock SE & Co. KGaA (“Company”) – the global MedTech champion of the Custom Orthotics and Prosthetics (O&P) industry – today set the price range for its planned initial public offering (“IPO”) and listing of its shares on the regulated market (Prime Standard) of the Frankfurt Stock Exchange at EUR 62.00 to EUR 66.00 per share. The offer consists of approximately 1.6 million newly issued bearer shares from a capital increase against cash contributions, which is expected to be resolved by an extraordinary general shareholders’ meeting of the Company on or about October 7, 2025. In addition, there are approximately 9.1 million existing bearer shares from the holdings of Näder Upside Vermögensverwaltungs GmbH (the “Selling Shareholder”) offered. In addition, the Selling Shareholder is making approximately 1.6 million existing shares available as part of a securities loan for a possible over-allotment option (‘greenshoe option’). Kühne Holding AG (“Kühne Holding”) has undertaken, subject to certain termination rights, to purchase shares in the offer up to the aggregate maximum purchase price of EUR 125 million at the final offer price subject to a maximum resulting interest in the share capital of the Company of 2.99%. SMALLCAP World Fund Inc., a Capital Group fund (“Capital Group”), has undertaken, subject to certain termination rights, to purchase shares in the offer up to the aggregate maximum purchase price of EUR 115 million at the final offer price. The number of shares which Kühne Holding and Capital Group undertake to purchase is calculated based on the respective aggregate maximum purchase price divided by the offer price. If all of the offered shares are placed, including 1,612,903 newly issued bearer shares from a capital increase against cash contributions (primary shares), 9,125,000 existing bearer shares (secondary shares) and 1,610,685 shares under a possible over-allotment option, this would correspond to an offering volume of between approximately EUR 766 million and approximately EUR 808 million. Depending on the final offer price, the targeted market capitalization upon placement of all shares is between approximately EUR 4.0 billion and approximately EUR 4.2 billion. Oliver Jakobi, CEO of Ottobock: "As a family-owned company that has been a leader in our industry for over 100 years, we combine tradition and innovation. With the planned IPO, we want to further strengthen our proven innovation strength and develop technologies that help people maintain or regain their freedom of movement. The proceeds from the planned IPO will give us additional financial flexibility to invest specifically in new technologies, continue to set new standards in human bionics and take advantage of new strategic opportunities." The targeted gross proceeds from the placement of new shares as part of a capital increase are intended to provide the Company with additional financial flexibility to finance future technology investments (including investments into future technologies) and to pursue opportunities in Products & Components (B2B) products and services as well as Patient Care (B2C) M&A. Further details of the offer The offer period is expected to commence on 30 September 2025 and expected to end on 7 October 2025. The final offer price and the final number of shares to be placed will be determined after completion of the book-building process after the offer period and announced in a separate publication. The lock-up period for the Company, the existing shareholders and certain members of the Company’s governing bodies is 180 days following the first day of trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange. The prospectus is expected to be published on Ottobock’s IR website: https://investors.ottobock.com. BNP PARIBAS, Deutsche Bank and Goldman Sachs are acting as joint global coordinators and joint bookrunners. BofA Securities and UBS act as senior bookrunners, and Jefferies and UniCredit are acting as additional joint bookrunners. COMMERZBANK has been appointed as senior co-lead manager. DZ BANK and LBBW have been appointed as co-lead managers. Lilja & Co. is acting as financial advisor to Näder Holding and Ottobock. Further information is available at www.investors.ottobock.com.
  About Ottobock Ottobock, a global MedTech champion, combines over 100 years of tradition with outstanding innovative strength in the fields of prosthetics, neuro-orthotics and exoskeletons. Ottobock develops innovative fitting solutions for people with limited mobility and is driving the digitalisation of the industry. Founded in Berlin in 1919, the company has business activities in 45 countries with nearly 9,300 employees (FTEs) worldwide and operates the largest international patient care network with around 400 patient care clinics. Ottobock is shaping the future of human bionics with a strong R&D ratio in the products and components business and over 2,600 patents and patent applications. Ottobock’s mission of improving freedom of movement, quality of life and independence is deeply rooted in the company's DNA, as is its social commitment: Ottobock has been a partner and supporter of the Paralympics since 1988.
  Investor contact: Ottobock SE & Co. KGaA
Julia Hartmann
VP Investor Relations
Mobile +49 151 556 848 07
Julia.Hartmann@ottobock.de
  Media contacts: Ottobock SE & Co. KGaA
Merle Florstedt     
Head of Corporate Communications  
Mobile +49 151 441 616 25
Merle.Florstedt@ottobock.de   Kekst CNC
Knut Engelmann
Mobile +49 174 234 2808
Knut.Engelmann@kekstcnc.com   Important Notice This announcement is not and does not constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States of America, Australia, Canada or Japan, or any other jurisdiction in which such offer may be restricted. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state or other jurisdiction of the United States, and may not be offered, sold, or otherwise transferred, directly or indirectly, in or into the United States of America absent such registration, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements under the Securities Act, and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no public offer of the securities in the United States of America. This announcement is an advertisement and not a prospectus. Investors should not purchase or subscribe for any securities in Ottobock SE & Co. KGaA (“Ottobock”) referred to in this announcement except on the basis of information in the prospectus to be issued by the company in connection with the offering of such securities. Copies of the prospectus will, following approval of the German Financial Supervisory Authority (BaFin) and publication, be available free of charge from the issuer or on https://investors.ottobock.com. The approval of the prospectus by the German Financial Supervisory Authority (BaFin) should not be understood as an endorsement of the securities. It is recommended that potential investors read the prospectus before making an investment decision in order to fully understand the potential risks and rewards associated with the decision to invest in the securities. This announcement is directed at and/or for distribution in the United Kingdom only to (i) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) high net worth entities falling within article 49(2)(a) to (d) of the Order (all such persons are referred to herein as “relevant persons”). This announcement is directed only at relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons. Forward-looking Statements This announcement may contain “forward-looking statements”. Forward-looking statements are sometimes, but not always, identified by their use of a date in the future or such words as “will”, “anticipates”, “aims”, “could”, “may”, “should”, “expects”, “believes”, “intends”, “plans”, “prepares” or “targets” (including in their negative form or other variations). By their nature, forward-looking statements are inherently predictive, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future. There are a number of factors that could cause actual results, performance and developments to differ materially from those expressed or implied by these forward-looking statements. All subsequent written or oral forward-looking statements attributable to Ottobock or its respective affiliates, or any persons acting on their behalf are expressly qualified in their entirety by the factors referred to above. No assurances can be given that the forward-looking statements in this document will be realised. Any forward-looking statements are made of the date of this announcement. Subject to compliance with applicable law and regulations, neither (i) Ottobock, nor (ii) BNP PARIBAS, Deutsche Bank Aktiengesellschaft, Goldman Sachs Bank Europe SE, BofA Securities Europe SA, UBS AG London Branch, Jefferies GmbH, UniCredit Bank GmbH, COMMERZBANK Aktiengesellschaft, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, Landesbank Baden-Württemberg (together, the “Underwriters”) nor their respective affiliates intend to update, review, revise or conform any forward-looking statement contained in this announcement to actual events or developments whether as a result of new information, future developments or otherwise, and do not undertake any obligation to do so. This announcement does not constitute investment, legal, accounting, regulatory, taxation or other advice. No person is authorised to give any information or to make any representation not contained in and not consistent with the announcement and, if given or made, such information or representation must not be relied upon as having been authorised by or on behalf of the Company or any Underwriter. This announcement does not purport to contain all information required to evaluate Ottobock and/or its financial position. Financial information (including percentages) has been rounded according to established commercial standards. Certain market positioning data about Ottobock included in this announcement is sourced from or based on third-party sources. Third-party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the fairness, quality, accuracy, relevance, completeness or sufficiency of such data. Such research and estimates, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change without notice. Accordingly, Ottobock and the Underwriters expressly disclaim any responsibility for, or liability in respect of, such information and undue reliance should not be placed on such data. The Underwriters are acting exclusively for Ottobock and the Selling Shareholder and no one else in connection with the planned offering of the shares of Ottobock (the “Offering”). They will not regard any other person as their respective clients in relation to the Offering and will not be responsible to anyone other than Ottobock and the Selling Shareholder for providing the protections afforded to its clients, nor for providing advice in relation to the Offering, the contents of this announcement or any transaction, arrangement or other matter referred to herein. In connection with the Offering, the Underwriters and their respective affiliates may take up a portion of the shares offered in the Offering as a principal position and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts such shares and other securities of Ottobock or related investments in connection with the Offering or otherwise. Accordingly, references in the securities prospectus to the shares being offered, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or acquisition, placing or dealing by, the Underwriters and their respective affiliates acting in such capacity. In addition, the Underwriters and their respective affiliates may enter into financing arrangements (including swaps or contracts for differences) with investors in connection with which the Underwriters and their respective affiliates may from time to time acquire, hold or dispose of shares of Ottobock. The Underwriters do not intend to disclose the extent of any such investment or transactions, other than in accordance with any legal or regulatory obligations to do so. None of the Underwriters nor any of their respective affiliates nor any of the Underwriters’ or such affiliates' directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this release (or whether any information has been omitted from the release) or any other information relating to Ottobock and/or its subsidiaries, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available, or for any loss howsoever arising from any use of this release or its contents or otherwise arising in connection therewith. The information contained in this release is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this release or its accuracy, fairness or completeness. The date of the admission to trading of shares of Ottobock on the regulated market segment (regulierter Markt) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) with simultaneous admission to the sub-segment of the regulated market with additional post-admission obligations (Prime Standard) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) (together, the "Admission") may be influenced by things such as market conditions. There is no guarantee that Admission will occur and no financial decision should be based on the intentions of Ottobock in relation to Admission at this stage. Acquiring investments to which this release relates may expose an investor to a significant risk of losing all of the amount invested. Persons considering making such investments should consult an authorised person specializing in advising on such investments. This release does not constitute a recommendation concerning the Offering. The value of shares can decrease as well as increase. Potential investors should consult a professional advisor as to the suitability of the Offering for the person concerned.