ASE Technology Holding's Subsidiary, USI Shanghai, Acquires Asteelflash

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ASE Technology Holding Co., Ltd. announced the Company's subsidiary, Universal Scientific Industrial (Shanghai) Co., Ltd., has successfully completed the acquisition of 100% shares of Asteelflash Group through the acquisition of Asteelflash Group's parent company, Financière AFG S.A.S..

The closing consideration was paid in an amount of US$421,481,287, including cash and share consideration. In addition to the payment of closing consideration, Universal Scientific Industrial (France), USI's wholly owned subsidiary, is obliged to pay an additional amount up to US$42,804,551 in cash, subject to an earn-out mechanism linked to FAFG's business performance provided under the definitive agreement, after the end of year 2022. The cash consideration was in an amount of US$374,606,287 paid by USI France upon closing. Upon making payment of the cash consideration, USI France acquired 71,530,174 shares of FAFG (approximately 89.6% of the issued shares of FAFG). USI will issue 25,939,972 new shares as share consideration after closing (issue price of RMB 12.64 per share, in total RMB 327,881,250, in equivalent of US$46,875,000) in exchange for 8,317,462 shares of FAFG (approximately 10.4% of the issued shares of FAFG). As a result, USI has acquired 100% of FAFG's total issued shares, 79,847,636 shares.

Asteelflash Group, headquartered in France, is a European leader in the electronics manufacturing services or EMS industry. Asteelflash Group's current management team will continue in key management roles within USI. The combined companies' customer portfolio, expanded global footprint and technological capabilities will allow for geographical market expansion along with broadened service offerings. USI and Asteelflash Group will immediately start to implement a synergy plan— leveraging combined sales, supply chain management and technology sharing. This combination is a major step in the expansion of USI's international leadership position.



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