DGAP-News: Knorr-Bremse Aktiengesellschaft: [Correction] Knorr-Bremse presents strong mid-term outlook for 2025

[Correction] Knorr-Bremse presents strong mid-term outlook for 2025

[Mid-term revenue target 2025 adjusted from EUR 8.1-8.5 billion to EUR 8.1-8.6 billion]

- Knorr-Bremse today presented its updated strategy and mid-term outlook for 2025 at its Capital Markets Day "Shaping the Future of Sustainable Transportation"

- Annual revenue growth of 5.5 % to 6.5 % until 2025 expected

- Mid-term financial targets: revenue of EUR 8.1 billion to EUR 8.6 billion and operating EBIT margin (ROS) of 14.0 % to 16.0 %

- Mid-term outlook also updated for divisions: operating EBIT margin of 18.0 % to 19.5 % expected for Rail division; operating EBIT margin of 12.0 % to 13.5 % expected for Truck division

Munich, November 29, 2021 - Knorr-Bremse AG, the global market leader for braking systems and a leading supplier of other rail and commercial vehicle systems, today provided an update to its mid-term outlook for 2025 at its Capital Markets Day. The company expects annual revenue growth of 5.5 % to 6.5 %, which translates to revenues of EUR 8.1 billion to EUR 8.6 billion and a corresponding increase in the operating EBIT margin (ROS) of 14.0 % to 16.0 %. Knorr-Bremse will build on its successful performance in recent years while also tapping into new growth areas in the rail and truck segments.

Dr. Jan Mrosik, Chairman of the Executive Board of Knorr-Bremse AG said: "In recent months Knorr-Bremse has impressively demonstrated the performance capabilities of the company and its employees, even during challenging times. With our strong innovative capacity and clear customer orientation we are setting clear strategic priorities for our divisions Rail and Truck. In doing so, we are shaping the future of the global megatrends of urbanization, sustainability, digitalization, and mobility. Our sustainable products, digital innovations, and strong cost discipline are the basis for our solid financial development over the coming years."

The company also published its mid-term outlook for its divisions RVS and CVS. Knorr-Bremse expects an average growth rate of 5 % to 6 % and an operating EBIT margin of 18.0 % to 19.5 % for RVS. For CVS, the company expects average revenue growth of 7 % to 8 % and an operating EBIT margin of 12.0 % to 13.5 %.

Knorr-Bremse's successful path is driven by four long-term global megatrends: urbanization, sustainability, digitization, and mobility. Through the innovative products, systems and services offered by its divisions Truck and Rail, Knorr-Bremse is actively shaping the future of sustainable transportation and the automation sector globally. Against this backdrop, the company will continue to expand its role as market leader and innovator over the coming years with a profitable growth trajectory.

On November 12, 2021, the company narrowed its full-year guidance for 2021, expecting profitable growth despite supply chain disruptions and inflation. Knorr-Bremse now expects revenues of EUR 6,600 million to EUR 6,800 million (2020: EUR 6,157 million) and an operating EBIT margin of between 13.0 % and 13.5 % (2020: 13.2 %) for the full-year 2021.

Further information on Knorr-Bremse AG's Capital Markets Day is available online at Investor Relations (knorr-bremse.com).

About Knorr-Bremse

Knorr-Bremse (ISIN: DE000KBX1006, ticker symbol: KBX) is the global market leader for braking

systems and a leading supplier of other safety-critical rail and commercial vehicle systems. Knorr- Bremse's products make a decisive contribution to greater safety and energy efficiency on rail tracks and roads around the world. Some 29,500 expert, dedicated employees at over 100 sites in more than

30 countries deliver products and services to satisfied customers worldwide. In 2020, Knorr-Bremse's

two divisions together generated revenues of EUR 6.2 billion. For 115 years, the Company has been at the cutting edge of its industries, driving innovation in mobility and transportation technologies with

a leading edge in connected system solutions. Knorr-Bremse is one of Germany's most successful industrial companies and profits from the key global megatrends: urbanization, sustainability, digitalization, and mobility.

Contact Media Relations:

Alexandra Bufe, Tel. +49 89 3547-1402, [email protected]

Contact Investor Relations:

Andreas Spitzauer, Tel. +49 8 3547-182310, [email protected]

Disclaimer

This publication has been independently prepared by Knorr-Bremse AG. It may contain forward looking statements which address key issues such as strategy, future financial results, events, competitive positions and product developments. These forward-looking statements - like any business activity in a global environment - are always associated with uncertainty. They are subject to a number of risks, uncertainties and other factors, including, but not limited to, those described in Knorr-Bremse's disclosures. Should one or more of these risks, uncertainties or other factors materialize, or should underlying expectations not occur or should assumptions prove incorrect, the actual results, performances or achievements of Knorr-Bremse may vary materially from those described in the relevant forward-looking statements. Such forward-looking statements may be identified by words such as "expect," "want," "anticipate," "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. Knorr-Bremse does not intend, nor does it assume any obligation, to update or revise its forward-looking statements regularly in light of developments which differ from those anticipated.

This publication may include supplemental financial measures - not clearly defined in the applicable

financial reporting framework - that are or may be alternative performance measures (non-GAAP measures). Knorr-Bremse's financial position, financial performance and cash flows should not be assessed solely on the basis of these alternative supplemental financial measures. Under no circumstances do they replace the performance indicators presented in the consolidated financial statements and calculated in accordance with the applicable financial reporting framework. The calculation by other companies that report or describe similarly titled alternative performance measures may vary despite the use of the same or similar terminology.