Recent press speculation

The Board of Goodwin notes recent press speculation regarding the potential sale of parts of the Mechanical Engineering division.

The Board of Goodwin confirms that it has commenced a strategic review to consider a range of potential options to maximise value for shareholders whilst ensuring continuity for all stakeholders, including customers, and the long-term prosperity of its businesses. These options include the potential sale of a substantial part of the Mechanical Engineering division, which includes GSC, GI, Noreva, Easat and Pumps.

Discussions are ongoing and there can be no certainty that a transaction will be entered into. Rothschild & Co is advising the Board of Goodwin on the strategic review.

The Board will update shareholders on the progress of the strategic review, as appropriate.

N.M. Rothschild & Sons Limited ("Rothschild & Co") is authorised and regulated by the Financial Conduct Authority in the United Kingdom. Rothschild & Co is acting for Goodwin in relation to the matters described in this announcement and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters set out in this announcement and will not be responsible to anyone other than Goodwin for providing the protections afforded to clients of Rothschild & Co or its affiliates, or for providing advice in relation to the contents of this announcement or any other matter referred to herein.