Update on intended public offer for Titan by ERCl

Rotterdam, The Netherlands, 17 January 2025 – Reference is made to the joint press release issued by Titan and ERCI on 23 December 2024 in respect of the conditional agreement on a recommended all-cash public offer for the Shares at an offer price of EUR 1.01 (cum dividend, but excluding the previously announced dividend in the total amount of EUR 1.38 per Share) in cash per Share. The joint press release of 23 December 2024 can be found on https://titan-nv.com/ and https://ercapital.nl/.

Pursuant to the provisions of Section 7, paragraph 1 sub a of the Decree, a public announcement including a status update on an intended public offer is required within four weeks after the Offer is announced. ERCI hereby provides this update on the Offer.

ERCI confirms that it and Titan are making good progress on the preparations for the Offer. As communicated in the joint press release dated 23 December 2024, the Offeror anticipates to submit a first draft of the Offer Memorandum to the AFM no later than early February 2025.