DGAP-PVR: Knorr-Bremse Aktiengesellschaft: Release according to Article 43 Section 2, 40 Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution

[Convenience Translation]

Munich, 27 May 2021

Notification according to Section 43 of the German Securities Trading Act Wertpapierhandelsgesetz (WpHG)
Notifying Party: Mr. Robin Brühmüller
Issuer: Knorr-Bremse AG, Moosacher Straße 80, 80809 München

Pursuant to Section 43 para. 1 WpHG, Mr. Robin Brühmüller notified the following to Knorr-Bremse AG, referring to the voting rights notification by the Notifying Party pursuant to Sections 33, 34 WpHG dated 17 May 2021 following the crossing of the thresholds of 3%, 5%, 10%, 15%, 20%, 25%, 30% and 50% of voting rights in Knorr-Bremse AG on 17 May 2021 by way of attribution through the entities listed in Section 8 of the Annex to the voting rights notification:

1. Aim of the Investment (Section 43 para. 1 sentence 1 and 3 WpHG)

a) The attribution of the Notifying Party's indirect participation in Knorr-Bremse AG to the Notifying Party results from the Notifying Party accepting the role as executor (Testamentsvollstrecker) regarding the shares in Stella Vermögensverwaltungs GmbH of late Heinz Hermann Thiele. Therefore, the aim of the indirect acquisition of the voting rights of Knorr-Bremse AG by the Notifying Party is neither to implement strategic objectives nor to realize trading profits.

b) The Notifying Party as of today has no intention to acquire further (direct or indirect) voting rights of Knorr-Bremse AG within the next twelve months by means of a purchase or by other means.

c) The Notifying Party as of today has no intention to exert influence on the appointment or removal of members of Knorr-Bremse AG's administrative, managing and supervisory bodies beyond the exercise of voting rights in possible shareholders' resolutions regarding the appointment of members of the supervisory board. 

d) The Notifying Party as of today has no intention to achieve a material change in Knorr-Bremse AG's capital structure, in particular as regards the ratio between its own funds and external funds and the dividend policy.
 

2. Source of Funds used (Section 43 para. 1 sentence 4 WpHG)

Neither own funds nor external funds were used to acquire the voting rights. The (indirect) acquisition occurred in relation to the execution of will regarding the estate of late Heinz Hermann Thiele.