Page 34 - Arçelik PR REPORT - APRIL 2024

4/18/24, 11:46 AM Riyadh Daily

Akın Garzanlı, Chief Marketing Officer and Chief Customer Officer of MEA, Russia & CIS

Riyadh "Riyadh Daily"
Arçelik Completes Acquisition of Whirlpool's Moroccan and UAE Subsidiaries
and Operations in MENA Region

Today marks the completion of the transaction for Arçelik, Beko’s parent company, to acquire full ownership of
Whirlpool’s Middle East and North Africa (MENA) operations. Through this acquisition, Arçelik now owns Whirlpool’s
UAE and Morocco entities, and manages Whirlpool's MDA business operations in the MENA region.

With the integration of Whirlpool’s MENA business, Arçelik achieves another significant milestone in its transformative
growth journey, reaffirming its standing as a leading global provider of sustainable home appliances, as part of its
commitment to growth and delivering market-leading products and services to consumers and partners.

By leveraging Arçelik’s deep industry expertise in combination with Whirlpool's regional infrastructure and market
presence, Arçelik aims to solidify and expand its footprint in this high-growth region. The brands Arçelik will offer in
the MENA market through this acquisition are Whirlpool, Ariston, Indesit, Hotpoint, Hotpoint-Ariston, Bauknecht and
Ignis, while Whirlpool’s Insinkerator, KitchenAid, Maytag business are excluded, and Whirlpool and Ariston are limited
to licensee in the certain jurisdiction.

Akın Garzanlı, Chief Marketing Officer and Chief Customer Officer of MEA, Russia & CIS, expressed his excitement
and confidence regarding the transaction, stating: “I am delighted to witness the successful completion of our
strategic move to acquire Whirlpool’s MENA operations. Arçelik is a leading global company in the home appliance
industry with 55,000 employees and 45 production facilities. Soon, it will be adding a state-of-the-art factory in Egypt,
which stands on the cusp of operation, ready to bring innovation and excellence to the market. With this new
integration, we are inching closer to our ambition to become the number one home appliances company in the
region. We reaffirm our dedication to delivering top-tier products to MENA consumers, emphasising quality, durability,
and sustainability. We will continue to prioritise the well-being of both the planet and its people, and remain attentive
to the needs of our consumers, communities, and employees as we continue to grow and evolve sustainably.”

On the April 2, 2024, Arçelik announced the successful completion of the definitive Contribution Agreement between
Arçelik’s wholly owned subsidiary Beko B.V. and Whirlpool Corporation’s wholly owned subsidiary Whirlpool EMEA

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