Landi Renzo Signed an Agreement signed with Westport Fuel Systems Italia

Landi Renzo S.p.A. (“Landi Renzo”) announces that it has signed today an investment agreement with a financial vehicle controlled by Heliaca Investments Coöperatief U.A. (“Heliaca Investments”), a family-owned investment company based in the Netherlands, as part of an industrial integration project between Landi Renzo’s “Green Transportation” business segment (“GT Business”) and the Westport Fuel Systems Italia S.r.l. group (“WFS Italia”), a leading company in the production and marketing of LPG and natural gas components and systems, ultimately owned by Heliaca Investments.

Diving Deep

The scope of the agreement excludes the Indian joint venture between Krishna Group and Landi Renzo, Landi Technologies USA, and other smaller companies operating in foreign markets, which will remain part of the Landi Renzo Group, together with SAFE S.p.A.

Specifically, the transaction – which will be completed as part of the restructuring plan of Landi Renzo
and Metatron, currently being finalized under the Negotiated Crisis Settlement (“CNC”) procedure –
consists of a partial demerger and spin-off of the GT Business into a newly incorporated company wholly owned by Landi Renzo (“NewCo”), of the contribution of NewCo to WFS Italia, and of the merger by incorporation of NewCo into WFS Italia.

Upon completion of the transaction, Landi Renzo, which will remain listed on the Euronext Milan market
of Borsa Italiana, will retain a 15% minority stake in WFS Italia subject to adjustments.
The shareholding structure of Landi Renzo remains unchanged, with Green by Definition (as a majority
shareholder) and Invitalia among its shareholders; Invitalia joined the corporate structure in 2024 through the subscription of a reserved capital increase by Fondo Salvaguardia Imprese, sponsored by MIMIT.

The partnership forms part of the broader evolution and rationalization of the alternative fuel systems
sector, with the goal of more effectively addressing the challenges of the energy transition and
accelerating the development of innovative solutions.

Quoting Landi and Wesport

Stefano Landi, Chairman of Landi Renzo Group, stated: “With this transaction, we are preparing to write a new and important chapter in the history of our Group. The integration of Landi Renzo’s Green
Transportation business with Westport Fuel Systems Italia stems from the desire to build a stronger, more advanced industrial entity, with the aim of accelerating innovation within a growth path and positioning ourselves along a solid growth trajectory. This is a forward-looking decision that will allow us to continue our journey with greater strength and perspective.”

Annalisa Stupenengo, CEO of Landi Renzo Group, commented: “The agreement with Westport represents a fundamental strategic milestone for Landi Renzo. The demerger and spin-off of the Green Transportation business into NewCo and its contribution to WFS Italia will enable us to enhance Landi Renzo’s industrial and technological capabilities within a broader and more competitive platform, better equipped to address the evolution of the alternative fuel systems market. This partnership strengthens our positioning in the energy transition and sustainable mobility pathway, while also representing an important step in the Company’s financial rebalancing process, contributing to the creation of conditions for sustainable longterm growth.”
Bart van Aerle, CEO of Westport Fuel Systems Italia, commented: “The combination of Landi Renzo’s
Green Transportation business with Westport Fuel Systems Italia will enable us to better serve our
customers and further strengthen our position in the alternative fuels segment. This marks an important new step following our separation from Westport Fuel Systems Inc. Canada last year and is fully aligned
with the strategy defined by the new management team together with Heliaca Investments. We look
forward to working closely with Landi Renzo to unlock the full potential of this integration and to further
advance sustainable mobility solutions.”
Completion of the transaction is subject to certain conditions in line with market practice for similar
transactions. Closing is expected by the fourth quarter of 2026.