Porsche SE invests in Flix SE

• Porsche SE invests low double-digit million amount
• Co-investment with EQT as part of Porsche SE's partner strategy
• Lutz Meschke, member of the board of management responsible for investment management at Porsche SE: "Flix is an impressive success story. The joint investment with EQT exemplifies our approach to work with globally leading investors."

Stuttgart, 12 August 2024. Porsche Automobil Holding SE ("Porsche SE") invests a low double-digit million amount in Flix SE ("Flix") as part of a co-investment with EQT. The investment is a co-investment with EQT's impact fund EQT Future, in which Porsche SE has already invested at the beginning of the year. As part of the transaction, EQT, together with Porsche SE, Kühne Holding and other co-investors, acquire a stake of around 35 percent in Flix and will support the company on its further growth path. The joint investment in Flix will further deepen the cooperation between Porsche SE and EQT. The cooperation with globally leading private equity and venture capital investors is a key element of Porsche SE's investment strategy and the planned expansion of its investment activities.

"Flix is an impressive success story. We see great growth potential for sustainable and affordable mobility services in the future and are looking forward to supporting Flix as it continues to expand its platform globally. The joint investment with EQT exemplifies our approach to work with globally leading investors to implement our investment strategy," says Lutz Meschke, member of the board of management responsible for investment management at Porsche SE.

Andreas Aschenbrenner, Founding Partner and Deputy Head of EQT Future, adds: "Porsche SE is a global leader in mobility investments rooted in a DNA of innovation and high-performance, long-term ownership and deep industrial expertise - a philosophy that is very aligned with our active ownership mindset at EQT Future. We are delighted to partner with Porsche SE to support Flix SE as our first joint investment on an exciting global growth agenda."

Munich-based Flix SE operates the leading global mobility platform for long-distance bus and train travel. Flix currently serves 5,600 destinations in over 40 countries worldwide, making it the market leader for long-distance bus travel in Europe, North America and Türkiye. Thanks to its global expansion, Flix has been able to achieve strong revenue growth in recent years. In the fiscal year 2023, Flix transported a total of 81 million passengers and increased revenue by 30 percent to two billion euro. In the coming years, the company plans further growth in existing markets and the expansion into new markets, particularly in Latin America and Asia.

With the investment in Flix, Porsche SE expands its portfolio with the first investment in a platform provider in the consumer segment. The transaction, which is subject to regulatory approvals, is scheduled to complete by the end of 2024.

Further information on Flix SE can be found on the company's homepage: https://www.flix.com

EQT's press release on the transaction is available here:
https://eqtgroup.com/news/2024/eqt-and-k-hne-holding-invest-in-flix-the-global-travel-company/