Endor AG expands the Management Board with Dr. Michael Op de Hipt as new COO

- Appointment to take effect on 19 April 2022

- Chief Operating Officer newly established

Landshut, 19. April 2022 - The Supervisory Board of Endor AG has appointed Dr. Michael Op de Hipt to the Management Board of Endor AG. In addition to his overall responsibility as a member of the Management Board, the Chief Operating Officer (COO) will be responsible for Operations (including production, quality assurance, purchasing and logistics), Research & Development (R&D) and Customer Care. Dr. Michael Op de Hipt will support the Management Board members already in office. Thomas Jackermeier (Chairman of the Management Board) will continue to oversee corporate strategy, product management, marketing and sales. András Semsey is responsible for Finance.

Andreas Potthoff, Chairman of the Supervisory Board of Endor AG: "We are very pleased that we were able to win Dr. Op de Hipt for the extended Management Board mandate. With the newly created position, we are aligning the company for further sales growth and placing an even stronger focus on the areas of R&D and operations. Mr. Op de Hipt has excellent qualifications, and we are convinced that he will make a great contribution to the further development of the organization and to the day-to-day operations, and we say welcome."

Dr. Michael Op de Hipt has many years of management experience in the mechanical engineering industry as as Managing Director and as head of research and development. He gained international experience through various assignments abroad in Asia and America in the areas of technology transfer, cooperation, and joint ventures. He also held various mandates as a member of the board of directors and on the scientific advisory board of various companies in the machine tool industry.

Dr. Michael Op de Hipt, future COO of Endor AG: "I am very much looking forward to my new role at Endor AG, one of the leading companies in the field of simracing. The company has an incredible wealth of experience in its segment and yet its culture is young and dynamic. I am looking forward to an exciting time in which we will make a lot of things happen together."

Endor AG had implemented an extensive investment programme in 2021 to adapt its structures to its strong growth. For example, the company started to renew the entire IT infrastructure, acquired extensive personnel and made large investments in R&D and marketing. Thanks to the structural adjustments, the company is now very well positioned for continued growth. For the future, a turnover volume of 250-300 million euros can be handled through the new structures.

About Endor AG www.endor.ag

Endor AG develops and markets high-quality input devices such as high-end steering wheels and pedals for racing simulations on game consoles and PCs as well as driving school simulators. As a "brain factory", the company's focus is on the creative sector. Endor carries out product development and prototype construction under its own direction and together with specialized technology partners, primarily in Germany ("German engineering"). The products are mainly produced in Asia.

Endor sells its products under the FANATEC brand via e-commerce primarily to end customers in Europe, the USA, Canada, Australia and Japan. Endor also sells driving school simulators in cooperation with Vogel Verlag. Endor AG, based in Landshut, was founded in 1997 and currently employs 147 people. Within the group, 192 people work for Endor worldwide, including freelancers. In 2021, the company generated a consolidated turnover of 81.4 million euros.

Contact:

Endor AG, Investor Relations, Phone: +49(0)871-9221 222, E-Mail: [email protected]

Press and investor enquiries:
Anita Schneider/Frank Ostermair, Better Orange IR & HV, Phone: +49(0)89-8896906 17,
E-Mail: [email protected]