ASML ASML Holding NV

ASML cautions investors regarding Tutanota LLC’s “mini-tender” offer

VELDHOVEN, the Netherlands, March 28, 2024 – ASML Holding NV (ASML) today announced that it recently became aware of an unsolicited “mini-tender” offer by Tutanota LLC to purchase up to 250,000 (two hundred and fifty thousand) of ASML’s ordinary shares, nominal value €0.09 per share, representing significantly less than 0.1% of ASML’s ordinary shares, at an offer price of $1,075 net per share.

ASML is not associated in any way with Tutanota or its mini-tender offer and recommends that shareholders reject this unsolicited mini-tender offer. Any shareholder considering tendering to the offer should exercise caution, carefully review the Tutanota offer documents, obtain current market quotations for their shares and consult with their broker or financial adviser.

ASML recommends that shareholders do not tender their shares in response to Tutanota’s offer because Tutanota’s offer is conditioned on, among other things, the closing price per share of ASML’s ordinary shares exceeding the offer price on the last trading day before the offer expires and is subject to numerous additional conditions, including Tutanota obtaining financing for the offer. Tutanota also states in its offer documents that it expects to extend the offer for successive periods of up to 180 days until the market price of ASML’s ordinary shares exceeds the offer price. This means that ASML shareholders who tender their shares in the offer would receive a below-market price for their shares if the offer conditions are satisfied and shares are purchased in the offer.

According to Tutanota’s offer documents, shareholders who have already tendered their shares may withdraw them by following the procedures described in the offer documents. ASML recommends shareholders who have already tendered their shares to consider withdrawing their tendered shares.

Tutanota has made similar unsolicited mini-tender offers for stock of other public companies. Mini-tender offers seek to acquire less than five percent of a company’s outstanding shares, thereby avoiding many disclosure and procedural requirements of the SEC that would otherwise apply. As a result, mini-tender offers do not provide investors with the same level of protections as provided by larger tender offers under U.S. securities laws. The U.S. Securities and Exchange Commission (“SEC”) has cautioned investors about these offers, issuing the guidance available at https://www.sec.gov/reportspubs/investor-publications/investorpubsminitend. ASML also strongly encourages brokers, dealers and other market participants to exercise caution and to review the SEC’s letter regarding broker-dealer mini-tender offer dissemination and disclosure at https://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.

ASML warns investors that the offer does not comply with, and does not offer the protections of, the public offer regulations of the Dutch Financial Markets Supervision Act. Tutanota's offer documents have not been approved by the Dutch Authority for the Financial Markets, the AFM.

ASML requests that a copy of this news release be included with all distributions of materials related to Tutanota’s mini-tender offer for ASML’s ordinary shares.

ASML historical financial information can be found on https://www.asml.com/en/investors.

About ASMLASML is a leading supplier to the semiconductor industry. The company provides chipmakers with hardware, software and services to mass produce the patterns of integrated circuits (microchips). Together with its partners, ASML drives the advancement of more affordable, more powerful, more energy-efficient microchips. ASML enables groundbreaking technology to solve some of humanity's toughest challenges, such as in healthcare, energy use and conservation, mobility and agriculture. ASML is a multinational company headquartered in Veldhoven, the Netherlands, with offices across EMEA, the US and Asia. Every day, ASML’s more than 42,400 employees (FTE) challenge the status quo and push technology to new limits. ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. Discover ASML – our products, technology and career opportunities – at www.asml.com.

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