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Announcement

Dear Ladies and Gentleman,

We are pleased to inform you today that we have gained a strong strategic partner as shareholder with GSB Oilless ltd.

GSB Oilless ltd. will contribute with its expert knowledge to future decisions and the company's
orientation.
This strategic partnership will allow both companies to leverage synergies and competent expertise to provide our customers with a broader and more diverse range of products and services, with highest quality and dependable delivery times. MICRONORM GMBH's experience will be combined with GSB Oilless ltd's resources and broad product range, creating an environment for innovation and growth.
We look forward to working with the GSB Oilless ltd. team to achieve common goals.

We would like to dedicate a special thank you to Mr. Rudolf Woronka who founded Mirconorm GmbH in 1984 and is now retiring from the management and the company after almost four
decades.

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