The Swiss Takeover Board confirmed in its decision of 2 February 2021 the validity of a planned opting-out clause exempting PIERER Mobility AG from an obligation to make a mandatory tender offer pursuant to the Swiss Financial Market Infrastructure Act. If approved in the shareholders assembly, such opting-out clause will help to avoid positive competence conflicts going forward regarding the public offer laws applicable to PIERER Mobility AG due to its incorporation in Austria and dual listing in Switzerland and Germany.