<SEC-DOCUMENT>0001206774-21-000846.txt : 20210326
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<ACCEPTANCE-DATETIME>20210326133848
ACCESSION NUMBER:		0001206774-21-000846
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		21
CONFORMED PERIOD OF REPORT:	20210215
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210326
DATE AS OF CHANGE:		20210326

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BORGWARNER INC
		CENTRAL INDEX KEY:			0000908255
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLE PARTS & ACCESSORIES [3714]
		IRS NUMBER:				133404508
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12162
		FILM NUMBER:		21776268

	BUSINESS ADDRESS:	
		STREET 1:		3850 HAMLIN RD.
		CITY:			AUBURN HILLS
		STATE:			MI
		ZIP:			48326
		BUSINESS PHONE:		2487549200

	MAIL ADDRESS:	
		STREET 1:		3850 HAMLIN RD.
		CITY:			AUBURN HILLS
		STATE:			MI
		ZIP:			48326

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BORG WARNER AUTOMOTIVE INC
		DATE OF NAME CHANGE:	19930628
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<p style="text-align: center"><span style="font-size: 10pt; font-family: Times New Roman">UNITED STATES<br />SECURITIES AND EXCHANGE COMMISSION</span></p>
<p style="text-align: center"><span style="font-size: 10pt; font-family: Times New Roman">Washington, D.C. 20549<br />_____________________<br />FORM <span id="xdx_909_edei--DocumentType_c20210214__20210215_z7VGOSNesxah"><ix:nonNumeric contextRef="From2021-02-14to2021-02-15" name="dei:DocumentType">8-K/A</ix:nonNumeric></span>
<br />
(Amendment No. 1)</span></p>
<p style="text-align: center"><span style="font-size: 10pt; font-family: Times New Roman">CURRENT REPORT</span></p>
<p style="text-align: center"><span style="font-size: 10pt; font-family: Times New Roman">Pursuant to Section 13 or 15(d) of<br />the Securities Exchange Act of 1934<br />_______________________</span></p>
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<p style="text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</span></p>
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<tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom">
   <td style="vertical-align: top; text-align: left; padding-right: 4pt">&#160;</td>
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<tr style="vertical-align: bottom">
   <td style="vertical-align: top; width: 2%; text-align: left; padding-right: 4pt"><span style="font-size: 10pt; font-family: Times New Roman"><span id="xdx_90C_edei--SolicitingMaterial_c20210214__20210215_zK1GeO9a03X7"><ix:nonNumeric contextRef="From2021-02-14to2021-02-15" format="ixt:booleanfalse" name="dei:SolicitingMaterial">[ ]</ix:nonNumeric></span></span></td>
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<tr style="vertical-align: bottom">
   <td style="vertical-align: top; text-align: left; padding-right: 4pt">&#160;</td>
   <td style="vertical-align: top; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
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   <td style="vertical-align: top; width: 98%; text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</span></td></tr>
<tr style="vertical-align: bottom">
   <td style="vertical-align: top; text-align: left; padding-right: 4pt">&#160;</td>
   <td style="vertical-align: top; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
   <td style="vertical-align: top; width: 2%; text-align: left; padding-right: 4pt"><span style="font-size: 10pt; font-family: Times New Roman"><span id="xdx_900_edei--PreCommencementIssuerTenderOffer_c20210214__20210215_zsOyC4TzCi59"><ix:nonNumeric contextRef="From2021-02-14to2021-02-15" format="ixt:booleanfalse" name="dei:PreCommencementIssuerTenderOffer">[ ]</ix:nonNumeric></span></span></td>
   <td style="vertical-align: top; width: 98%; text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</span></td></tr></table>

<p style="text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">Securities registered pursuant to Section 12(b) of the Act:</span></p>
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   <td style="width: 44%; white-space: nowrap; text-align: center"><span style="font-size: 10pt; font-family: Times New Roman"><span id="xdx_906_edei--Security12bTitle_c20210214__20210215__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorNotesMember__us-gaap--StatementClassOfStockAxis__custom--SeniorNotesDueNovember2022Member_zmuSLwPap6i5"><ix:nonNumeric contextRef="From2021-02-142021-02-15_us-gaap_SeniorNotesMember_custom_SeniorNotesDueNovember2022Member" name="dei:Security12bTitle">1.80% Senior Notes due 2022</ix:nonNumeric></span></span></td>
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   <td style="width: 10%; white-space: nowrap; text-align: center"><span style="font-size: 10pt; font-family: Times New Roman"><span id="xdx_900_edei--TradingSymbol_c20210214__20210215__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorNotesMember__us-gaap--StatementClassOfStockAxis__custom--SeniorNotesDueNovember2022Member_zAjZKHSxARWj"><ix:nonNumeric contextRef="From2021-02-142021-02-15_us-gaap_SeniorNotesMember_custom_SeniorNotesDueNovember2022Member" name="dei:TradingSymbol">BWA22</ix:nonNumeric></span></span></td>
   <td style="width: 1%; white-space: nowrap; text-align: center"></td>
   <td style="width: 44%; white-space: nowrap; text-align: center"><span style="font-size: 10pt; font-family: Times New Roman"><span id="xdx_90B_edei--SecurityExchangeName_c20210214__20210215__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorNotesMember__us-gaap--StatementClassOfStockAxis__custom--SeniorNotesDueNovember2022Member_zCMBL04pCEw9"><ix:nonNumeric contextRef="From2021-02-142021-02-15_us-gaap_SeniorNotesMember_custom_SeniorNotesDueNovember2022Member" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName">New York Stock Exchange</ix:nonNumeric></span></span></td></tr></table>

<p style="text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</span></p>
<p style="text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">Emerging growth company <span id="xdx_902_edei--EntityEmergingGrowthCompany_c20210214__20210215_zv0SGvrEtaMf"><ix:nonNumeric contextRef="From2021-02-14to2021-02-15" format="ixt:booleanfalse" name="dei:EntityEmergingGrowthCompany">&#9744;</ix:nonNumeric></span></span></p>
<p style="text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</span></p>


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<div style="page-break-before: always"></div>
<p style="text-align: center"><span style="font-size: 10pt; font-family: Times New Roman">EXPLANATORY NOTE
</span></p>
<p style="text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">As previously disclosed in a Current Report on Form 8-K, dated February 15, 2021 and filed on February 18, 2021 (the &#8220;</span><span style="text-decoration: underline"><span style="font-size: 10pt; font-family: Times New Roman">Form 8-K</span></span><span style="font-size: 10pt; font-family: Times New Roman">&#8221;), BorgWarner Inc., a Delaware corporation (the &#8220;</span><span style="text-decoration: underline"><span style="font-size: 10pt; font-family: Times New Roman">Company</span></span><span style="font-size: 10pt; font-family: Times New Roman">&#8221;), entered into a Business Combination Agreement, dated February 15, 2021 (the &#8220;</span><span style="text-decoration: underline"><span style="font-size: 10pt; font-family: Times New Roman">BCA</span></span><span style="font-size: 10pt; font-family: Times New Roman">&#8221;), by and among the Company, Blitz F21-842 AG, a stock corporation incorporated under the laws of Germany and a wholly-owned indirect subsidiary of the Company that is now known as &#8220;ABBA BidCo AG&#8221; (&#8220;</span><span style="text-decoration: underline"><span style="font-size: 10pt; font-family: Times New Roman">BidCo</span></span><span style="font-size: 10pt; font-family: Times New Roman">&#8221;), and Akasol AG, a stock corporation incorporated under the laws of Germany (&#8220;</span><span style="text-decoration: underline"><span style="font-size: 10pt; font-family: Times New Roman">Akasol</span></span><span style="font-size: 10pt; font-family: Times New Roman">&#8221;), pursuant to which the Company, indirectly through BidCo, is making a voluntary public takeover offer within the meaning of Sections 29 para. 1, 34 of the German Securities Acquisition and Takeover Act for the purchase of up to all of the 6,061,856 non-par value bearer shares with a proportionate amount of EUR 1.00 per share of the share capital of Akasol (each an &#8220;</span><span style="text-decoration: underline"><span style="font-size: 10pt; font-family: Times New Roman">Akasol Share</span></span><span style="font-size: 10pt; font-family: Times New Roman">&#8221; and collectively &#8220;</span><span style="text-decoration: underline"><span style="font-size: 10pt; font-family: Times New Roman">Akasol Shares</span></span><span style="font-size: 10pt; font-family: Times New Roman">&#8221;) for cash consideration per Akasol Share of &#8364;120 (the &#8220;</span><span style="text-decoration: underline"><span style="font-size: 10pt; font-family: Times New Roman">Offer</span></span><span style="font-size: 10pt; font-family: Times New Roman">&#8221;). Sven Schulz, Akasol&#8217;s largest shareholder, Chief Executive Officer and Founder, as well as certain other shareholders, have each entered into an Agreement on the Irrevocable Undertaking with the Company and BidCo (each an &#8220;</span><span style="text-decoration: underline"><span style="font-size: 10pt; font-family: Times New Roman">Irrevocable</span></span><span style="font-size: 10pt; font-family: Times New Roman">&#8221;, and together with the BCA, the &#8220;</span><span style="text-decoration: underline"><span style="font-size: 10pt; font-family: Times New Roman">Transaction Agreements</span></span><span style="font-size: 10pt; font-family: Times New Roman">&#8221;) under which each such shareholder has committed to tender a total of 59.4% of the issued Akasol Shares into the Offer.</span></p>

<p style="text-align: left"><span style="font-size: 10pt; font-family: Times New Roman"><span id="xdx_908_edei--AmendmentDescription_c20210214__20210215_zSnwEAK9t5Ja"><ix:nonNumeric contextRef="From2021-02-14to2021-02-15" name="dei:AmendmentDescription">This Amendment No. 1 to Current Report on Form 8-K/A is being filed by the Company to amend Item 9.01 of the Form 8-K to file the following as exhibits to the Form 8-K: (i) the BCA, which is filed as Exhibit 10.1 hereto and is incorporated herein by reference; (ii) the Irrevocable by and among Sven Schulz, Sven Schulz Group GmbH, the Company and BidCo, which is filed as Exhibit 10.2 hereto and is incorporated herein by reference; (iii) the Irrevocable by and among Stephen Raiser, the Company and BidCo, which is filed as Exhibit 10.3 hereto and is incorporated herein by reference; (iv) the Irrevocable by and among Felix von Borck, the Company and BidCo, which is filed as Exhibit 10.4 hereto and is incorporated herein by reference; and (v) the Irrevocable by and among Dr. Bj&#246;rn Eberleh, the Company and BidCo, which is filed as Exhibit 10.5 hereto and is incorporated herein by reference.</ix:nonNumeric></span></span></p>

<p style="text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">The Transaction Agreements contain representations, warranties and covenants that the respective parties made to each other as of the date of the Transaction Agreements or other specific dates. The assertions embodied in those representations, warranties and covenants were made for purposes of the contract between the respective parties and are subject to important qualifications and limitations agreed to by the parties in connection with negotiating such agreements. The Transaction Agreements have been attached hereto to provide investors with information regarding their terms. It is not intended to provide any other factual information about the Company, Akasol or any other party to the Transaction Agreements. In particular, the representations, warranties, covenants and agreements contained in the Transaction Agreements, which were made only for purposes of such agreements and as of specific dates, were solely for the benefit of the parties to the Transaction Agreements, may be subject to limitations agreed upon by the contracting parties and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors and security holders. Investors and security holders are not third-party beneficiaries under the Transaction Agreements and should not rely on the representations, warranties, covenants and agreements, or any descriptions thereof, as characterizations of the actual state of facts or condition of any party to the Transaction Agreements. Moreover, information concerning the subject matter of the representations and warranties may change after the date of the Transaction Agreements, which subsequent information may or may not be fully reflected in the Company&#8217;s public disclosures.</span></p>

<p style="text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">Item 9.01 of the 8-K is amended to read in its entirety as follows:</span></p>


<p style="text-align: left"><span style="font: 10pt Times New Roman; text-decoration: underline">Item 9.01</span> <span style="font: 10pt Times New Roman; text-decoration: underline">Exhibits</span><span style="font-size: 10pt; font-family: Times New Roman">.</span></p>
<p style="text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">(d) </span><span style="font: 10pt Times New Roman; text-decoration: underline">Exhibits</span><span style="font-size: 10pt; font-family: Times New Roman">.</span></p>
<p style="text-align: left"><span style="font: 10pt Times New Roman; text-decoration: underline">EXHIBIT INDEX</span></p>
<table cellspacing="0" cellpadding="0" border="0" style="line-height: 14pt; border-collapse: collapse; width: 100%">

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   <td style="border-bottom: #000000 1pt solid; width: 1%; white-space: nowrap; text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">Exhibit No.</span></td>
   <td style="width: 1%; white-space: nowrap; text-align: left">&#160;&#160;&#160;&#160;&#160;</td>
   <td style="border-bottom: #000000 1pt solid; width: 98%; text-align: left; text-align: center"><span style="font-size: 10pt; font-family: Times New Roman">Description of Exhibit</span></td></tr>
<tr style="vertical-align: bottom">
   <td style="vertical-align: top; background-color: Silver; width: 1%; white-space: nowrap; text-align: left"><a href="borg3887841-ex101.htm" style="-sec-extract: exhibit"><span style="font-size: 10pt; font-family: Times New Roman">10.1</span></a></td>
   <td style="vertical-align: top; background-color: Silver; width: 1%; white-space: nowrap; text-align: left"></td>
   <td style="vertical-align: top; background-color: Silver; width: 98%; text-align: left"><a href="borg3887841-ex101.htm" style="-sec-extract: exhibit"><span style="font-size: 10pt; font-family: Times New Roman">Business Combination Agreement, dated February 15, 2021, by and among BorgWarner Inc.,
Blitz F21-842 AG and Akasol AG.
</span></a></td></tr>
   <tr style="vertical-align: bottom">
   <td style="vertical-align: top; background-color: White; width: 1%; white-space: nowrap; text-align: left"><a href="borg3887841-ex102.htm" style="-sec-extract: exhibit"><span style="font-size: 10pt; font-family: Times New Roman">10.2</span></a></td>
   <td style="vertical-align: top; background-color: White; width: 1%; white-space: nowrap; text-align: left"></td>
   <td style="vertical-align: top; background-color: White; width: 98%; text-align: left"><a href="borg3887841-ex102.htm" style="-sec-extract: exhibit"><span style="font-size: 10pt; font-family: Times New Roman">Agreement on the Irrevocable Undertaking, dated February 15, 2021, among Sven Schulz, Sven
Schulz Group GmbH, BorgWarner Inc. and Blitz F21-842 AG.*
</span></a></td></tr>
   <tr style="vertical-align: bottom">
   <td style="vertical-align: top; background-color: Silver; width: 1%; white-space: nowrap; text-align: left"><a href="borg3887841-ex103.htm" style="-sec-extract: exhibit"><span style="font-size: 10pt; font-family: Times New Roman">10.3</span></a></td>
   <td style="vertical-align: top; background-color: Silver; width: 1%; white-space: nowrap; text-align: left"></td>
   <td style="vertical-align: top; background-color: Silver; width: 98%; text-align: left"><a href="borg3887841-ex103.htm" style="-sec-extract: exhibit"><span style="font-size: 10pt; font-family: Times New Roman">Agreement on the Irrevocable Undertaking, dated February 15, 2021, among Stephen Raiser,
BorgWarner Inc. and Blitz F21-842 AG.*
</span></a></td></tr>
   <tr style="vertical-align: bottom">
   <td style="vertical-align: top; background-color: White; width: 1%; white-space: nowrap; text-align: left"><a href="borg3887841-ex104.htm" style="-sec-extract: exhibit"><span style="font-size: 10pt; font-family: Times New Roman">10.4</span></a></td>
   <td style="vertical-align: top; background-color: White; width: 1%; white-space: nowrap; text-align: left"></td>
   <td style="vertical-align: top; background-color: White; width: 98%; text-align: left"><a href="borg3887841-ex104.htm" style="-sec-extract: exhibit"><span style="font-size: 10pt; font-family: Times New Roman">Agreement on the Irrevocable Undertaking, dated February 15, 2021, among Felix von Borck,
BorgWarner Inc. and Blitz F21-842 AG.*
</span></a></td></tr>
   <tr style="vertical-align: bottom">
   <td style="vertical-align: top; background-color: Silver; width: 1%; white-space: nowrap; text-align: left"><a href="borg3887841-ex105.htm" style="-sec-extract: exhibit"><span style="font-size: 10pt; font-family: Times New Roman">10.5</span></a></td>
   <td style="vertical-align: top; background-color: Silver; width: 1%; white-space: nowrap; text-align: left"></td>
   <td style="vertical-align: top; background-color: Silver; width: 98%; text-align: left"><a href="borg3887841-ex105.htm" style="-sec-extract: exhibit"><span style="font-size: 10pt; font-family: Times New Roman">Agreement on the Irrevocable Undertaking, dated February 15, 2021, Dr. Bj&#246;rn Eberleh,
BorgWarner Inc. and Blitz F21-842 AG.*
</span></a></td></tr>
   <tr style="vertical-align: bottom">
   <td style="vertical-align: top; background-color: White; width: 1%; white-space: nowrap; text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">104.1</span></td>
   <td style="vertical-align: top; background-color: White; width: 1%; white-space: nowrap; text-align: left"></td>
   <td style="vertical-align: top; background-color: White; width: 98%; text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">Cover Page Interactive Data File (embedded within the Inline XBRL document).</span></td></tr>
</table>
<p style="text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">*Schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company hereby undertakes to
furnish supplemental copies of any omitted schedules upon request by the SEC; provided, however, that the Company
may request confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934 for any schedules
so furnished.
</span></p>
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<div style="page-break-before: always"></div>

<p style="text-align: center"><span style="font: 10pt Times New Roman; text-decoration: underline">SIGNATURES</span></p>
<p style="text-indent: 15pt; text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</span></p>
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   <td style="width: 50%; white-space: nowrap; text-align: left"></td>
   <td style="width: 1%; white-space: nowrap; text-align: left"></td>
   <td style="width: 49%; white-space: nowrap; text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">BORGWARNER INC.</span></td></tr>
<tr>
   <td colspan="3" style="width: 100%">&#160;</td></tr>
<tr style="vertical-align: bottom">
   <td style="width: 50%; white-space: nowrap; text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">Date: March 26, 2021 </span></td>
   <td style="width: 1%; white-space: nowrap; text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">By:&#160;&#160;</span></td>
   <td style="border-bottom: #000000 1pt solid; width: 49%; white-space: nowrap; text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">/s/ Tonit M. Calaway</span></td></tr>
<tr style="vertical-align: bottom">
   <td style="width: 50%; white-space: nowrap; text-align: left"></td>
   <td style="width: 1%; white-space: nowrap; text-align: left"></td>
   <td style="width: 49%; white-space: nowrap; text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">Name: Tonit M. Calaway</span></td></tr>
<tr style="vertical-align: bottom">
   <td style="width: 50%; white-space: nowrap; text-align: left"></td>
   <td style="width: 1%; white-space: nowrap; text-align: left"></td>
   <td style="width: 49%; white-space: nowrap; text-align: left"><span style="font-size: 10pt; font-family: Times New Roman">Title: Executive Vice President and Secretary</span></td></tr>
<tr style="vertical-align: bottom">
   <td style="width: 50%; white-space: nowrap; text-align: left"></td>
   <td style="width: 1%; white-space: nowrap; text-align: left"></td>
   <td style="width: 49%; white-space: nowrap; text-align: left">&#160;</td></tr></table>

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<FILENAME>borg3887841-ex101.htm
<DESCRIPTION>BUSINESS COMBINATION AGREEMENT, DATED FEBRUARY 15, 2021
<TEXT>

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<P style="TEXT-ALIGN: right"><B><FONT size=2 face="Times New Roman">Exhibit 10.1</FONT></B></P>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>BCA</FONT></P>

<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">15 February 2021</FONT></B></P>

<P style="TEXT-ALIGN: center">&nbsp;</P>

<P style="TEXT-ALIGN: center">&nbsp;</P>

<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">BUSINESS COMBINATION AGREEMENT</FONT></B></P>

<P style="TEXT-ALIGN: center">&nbsp;</P>

<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">between</FONT></P>

<P style="TEXT-ALIGN: center">&nbsp;</P>

<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG)</FONT></B></P>

<P style="TEXT-ALIGN: center">&nbsp;</P>

<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">BorgWarner Inc.,</FONT></B></P>

<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">and</FONT></P>

<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">AKASOL AG</FONT></B></P>

<BR><BR><BR>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>

<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">CONTENTS</FONT></B></P>

<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>



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   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">1.</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="width: 96%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">Bidder&#8217;s Obligation regarding the Offer</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: right; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">2</FONT></TD></TR>

<TR STYLE="vertical-align: bottom">

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">2.</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 96%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">Support of the Offer by the Company</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: right; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">3</FONT></TD></TR>

<TR STYLE="vertical-align: bottom; background-color: Silver">

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">3.</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 96%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">Further Support of the Transaction and Deal Protection</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: right; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">5</FONT></TD></TR>

<TR STYLE="vertical-align: bottom">

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">4.</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 96%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">Regulatory Clearances Cooperation</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: right; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">9</FONT></TD></TR>

<TR STYLE="vertical-align: bottom; background-color: Silver">

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">5.</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 96%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">Business Strategy</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: right; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">10</FONT></TD></TR>

<TR STYLE="vertical-align: bottom">

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">6.</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 96%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">Brand</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: right; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">11</FONT></TD></TR>

<TR STYLE="vertical-align: bottom; background-color: Silver">

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">7.</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 96%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">Corporate Governance</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: right; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">11</FONT></TD></TR>

<TR STYLE="vertical-align: bottom">

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">8.</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 96%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">Workforce</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: right; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">12</FONT></TD></TR>

<TR STYLE="vertical-align: bottom; background-color: Silver">

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">9.</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 96%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">Corporate Measures</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: right; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">13</FONT></TD></TR>

<TR STYLE="vertical-align: bottom">

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">10.</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 96%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">Corporate Approvals</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: right; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">13</FONT></TD></TR>

<TR STYLE="vertical-align: bottom; background-color: Silver">

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">11.</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 96%; white-space: nowrap; text-align: left; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">Term and Termination</FONT></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-bottom: 6pt"></TD>

   <TD STYLE="width: 1%; white-space: nowrap; text-align: right; padding-bottom: 6pt"><FONT size=2 face="Times New Roman">13</FONT></TD></TR>

<TR STYLE="vertical-align: bottom">

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.</FONT></TD>

   <TD width="1%" noWrap align=left></TD>

   <TD width="96%" noWrap align=left><FONT size=2 face="Times New Roman">Miscellaneous</FONT></TD>

   <TD width="1%" noWrap align=left></TD>

   <TD width="1%" noWrap align=right><FONT size=2 face="Times New Roman">15</FONT></TD></TR></TABLE><BR>

<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>

<TABLE style="LINE-HEIGHT: normal; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD width="100%" colSpan=2 align=left><B><FONT size=2 face="Times New Roman">PARTIES</FONT></B></TD></TR>

<TR>

   <TD width="100%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(1)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG), a stock corporation (<EM>Aktiengesellschaft</EM>) incorporated under the laws of Germany, having its registered office at Frankfurt am Main, Germany, and registered in the commercial register with the Local Court of Frankfurt am Main under HRB 121819 (the <STRONG><EM>Bidder</EM></STRONG>);</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(2)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">BorgWarner Inc., a corporation incorporated under the laws of the State of Delaware, United States of America, having its registered office at 3850 Hamlin Road, Auburn Hills, Michigan 48326, United States of America (<STRONG><EM>BW</EM></STRONG> and together with the Bidder the <STRONG><EM>Acquirors</EM></STRONG>); and</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="99%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(3)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">AKASOL AG, a stock corporation (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesellschaft</FONT></I><FONT size=2 face="Times New Roman">) incorporated under the laws of Germany, having its registered office at Darmstadt, Germany, and registered with the commercial register of the Local Court of Darmstadt under HRB 97834 (the <STRONG><EM>Company</EM></STRONG> or <STRONG><EM>AKASOL</EM></STRONG>)</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="99%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">(Bidder, BW and the Company each a </FONT><B><I><FONT size=2 face="Times New Roman">Party </FONT></I></B><FONT size=2 face="Times New Roman">and together the </FONT><B><I><FONT size=2 face="Times New Roman">Parties</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></TD></TR>

<TR>

   <TD vAlign=top width="100%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="100%" colSpan=2 align=left><B><FONT size=2 face="Times New Roman">PREAMBLE</FONT></B></TD></TR>

<TR>

   <TD vAlign=top width="100%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(A)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Company is a leading developer and manufacturer of mostly liquid-cooled and rechargeable high-performance lithium ion battery systems for a wide range of applications. The share capital (<EM>Grundkapital</EM>) of the Company (the Company together with its subsidiaries from time to time, the <STRONG><EM>AKASOL Group</EM></STRONG>) amounts to EUR 6,061,856.00 and is divided into 6,061,856 non-par value bearer shares (<EM>auf den Inhaber lautende St&#252;ckaktien</EM>) with a proportionate amount of EUR 1.00 per share of the share capital (each an <STRONG><EM>AKASOL Share</EM></STRONG> and collectively <STRONG><EM>AKASOL Shares</EM></STRONG>). The AKASOL Shares are admitted to trading on the regulated market with additional post-admission obligations (<EM>Regulierter Markt mit Zulassungsfolgepflichten</EM>) (Prime Standard) of the Frankfurt Stock Exchange under ISIN DE000A2JNWZ9).</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="99%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(B)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">BW is the parent company of an international group supplying components and parts for the automotive industry. The Bidder is an indirectly wholly-owned subsidiary of BW (BW together with its subsidiaries from time to time, the <STRONG><EM>BW Group</EM></STRONG>).</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="99%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(C)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Bidder intends to acquire the AKASOL Group (the </FONT><B><I><FONT size=2 face="Times New Roman">Transaction</FONT></I></B><FONT size=2 face="Times New Roman">) by making a voluntary public takeover offer within the meaning of Section 29 para. 1 of the German Securities Acquisition and Takeover Act (<EM>Wertpapiererwerbs- und &#220;bernahmegesetz, <STRONG>Wp&#220;G</STRONG></EM>) for the purchase of all AKASOL Shares against cash consideration per AKASOL Share (the <STRONG><EM>Offer</EM></STRONG>).</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(D)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Company&#8217;s management board (</FONT><I><FONT size=2 face="Times New Roman">Vorstand </FONT></I><FONT size=2 face="Times New Roman">&#8211; the </FONT><B><I><FONT size=2 face="Times New Roman">Management Board</FONT></I></B><FONT size=2 face="Times New Roman">), after due consideration and evaluation of all currently available facts and foreseeable consequences for the Company, has determined with the consent of the Company&#8217;s supervisory board (<EM>Aufsichtsrat &#8211; </em>the <EM><STRONG>Supervisory Board</STRONG></EM>) that the proposed Transaction strategy will benefit the Company and is in its best interest.</FONT></TD></TR></TABLE>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">1|24</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>

<TABLE style="LINE-HEIGHT: normal; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(E)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Parties wish to agree to pursue the Transaction and therefore to enter into this business combination agreement which, <EM>inter alia</EM>, sets out the principal terms and conditions and the mutual understanding of the Parties with respect to the Transaction, the Transaction structure, and the future corporate governance structure of the Company and sets forth the agreement between the Parties as to the content of the Offer (the <EM><STRONG>Agreement</STRONG></EM>).</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(F)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Simultaneously with entering into this Agreement, the Acquirors intend to conclude agreements with certain anchor shareholders of the Company under which such anchor shareholders irrevocably undertake to tender all AKASOL Shares held by them (corresponding to a total amount of 3,598,658, i.e. 59.4% of AKASOL&#8217;s issued share capital) into the Offer (the <EM><STRONG>Irrevocables</STRONG></EM>).</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(G)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Subject to the terms and provisions of the respective Irrevocables, if any, the members of the Management Board and the Supervisory Board, subject to the applicable legal restrictions and their Fiduciary Duties (as defined in clause clause 3.2(b)), have agreed, and the Company&#8217;s Chief Executive Officer Mr. Sven Schulz will &#8211; simultaneously with entering into this Agreement &#8211; contractually undertake in the respective Irrevocables, that they will accept the Offer for AKASOL Shares held by them (if any) and that they will make a corresponding statement in the Reasoned Statement.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="100%" colSpan=3 align=left><FONT size=2 face="Times New Roman">Now, therefore, the Parties hereby agree as follows:</FONT></TD></TR>

<TR>

   <TD vAlign=top width="100%" colSpan=3 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">1.</FONT></B></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><B><FONT size=2 face="Times New Roman">Bidder&#8217;s Obligation regarding the Offer</FONT></B></TD></TR>

<TR>

   <TD vAlign=top width="100%" colSpan=3 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">1.1</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT size=2 face="Times New Roman">The Bidder hereby undertakes to</FONT></TD></TR>

<TR>

   <TD vAlign=top width="100%" colSpan=3 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">announce its intention to launch the Offer in accordance with Section 10 para. 1 sentence 1 and para. 3 sentence 1 Wp&#220;G immediately after execution of this Agreement (such date the <STRONG><EM>Effective Date</EM></STRONG>).</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="98%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">submit a formal offer document (</FONT><I><FONT size=2 face="Times New Roman">Angebotsunterlage</FONT></I><FONT size=2 face="Times New Roman">) describing terms and conditions of the Offer (the <STRONG><EM>Offer Document</EM></STRONG>) and which has been prepared in accordance with the Wp&#220;G and the German Regulation on the Content of the Offer Document, the Consideration for Takeover Offers and Mandatory Offers and the Release from the Obligation to Publish and Submit a Tender Offer (<EM>Wp&#220;G-Angebotsverordnung</EM>) to the German Federal Financial Supervisory Authority (<EM>Bundesanstalt f&#252;r Finanzdienstleistungsaufsicht &#8211;<STRONG> BaFin</STRONG></EM>) for its review within the time period prescribed in Section 14 para. 1 Wp&#220;G and which shall have a maximum offer period (Section 16 para. 1 Wp&#220;G) of six (6) weeks and which reflects the terms and conditions of this Agreement, in particular as set forth in clauses 1.2, 1.3, 5, 7, 8 and 9;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="98%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">make available to AKASOL and its advisors a draft of the Offer Document for review and comments at latest three (3) weeks prior to its publication and take account in good faith of any reasonable comments, it being understood that in case of any dispute on the content and any document relating thereto, the Bidder, shall have the ultimate decision right;</FONT></TD></TR></TABLE>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">2|24</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: normal; border-collapse: collapse; width: 100%">




<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: left"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: left"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not apply for any prolongation of the notice period by the BaFin pursuant to Section 14 para. 1 sentence 3 Wp&#220;G, unless the Company gives its prior written consent;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: left"></TD>

   <TD STYLE="vertical-align: top; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; text-align: left"></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: left"></TD>

   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">(e)</FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">publish the Offer Document within the time period prescribed in Section 14 para. 2 Wp&#220;G, provided that the publication of the Offer Document is not prohibited by the BaFin; and</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: left"></TD>

   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>

   <TD STYLE="vertical-align: top; text-align: left"></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: left"></TD>

   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">(f)</FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">settle the Offer by payment of the Offer Price (as defined in clause 1.3) (the <STRONG><EM>Offer Completion</EM></STRONG>) against simultaneous transfer of the tendered AKASOL Shares without undue delay and in any event no later than seven (7) <STRONG><EM>Business Days</EM></STRONG> (meaning a day on which banks in Frankfurt am Main, Germany, are open for general commercial business), which obligation shall arise only after (i) the additional acceptance period (<EM>weitere Annahmefrist</EM>) within the meaning of Section 16 para. 2 Wp&#220;G has expired and (ii) all Offer Conditions have been satisfied or validly waived.</FONT></TD></TR>

<TR vAlign=bottom>


   <TD COLSPAN="3" STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">1.2</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">The Offer Document shall only contain those conditions within the meaning of Section 18 para. 1 Wp&#220;G (<EM>Angebotsbedingungen</EM>), as set out in <STRONG><U>Annex 1.2</U></STRONG> (the <STRONG><EM>Offer Conditions</EM></STRONG>). For the avoidance of doubt, the Offer Document shall not provide for any minimum acceptance threshold (<EM>Mindestannahmeschwelle</EM>) in excess of a number of Target Shares equal to the sum of 50% of the number of Target Shares issued plus one Target Share.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: left"></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">1.3</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">The consideration per AKASOL Share (</FONT><I><FONT size=2 face="Times New Roman">Gegenleistung</FONT></I><FONT size=2 face="Times New Roman">) to be offered to the shareholders of the Company in the Offer Document shall be in cash only and shall be at least EUR 120 per AKASOL Share (the <STRONG><EM>Offer Price</EM></STRONG>).</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: left"></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">1.4</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">BW hereby guarantees by way of an independent promise of guarantee (<EM>selbst&#228;ndiges Garantieversprechen</EM>) within the meaning of Section 311 para. 1 German Civil Code (<EM>B&#252;rgerliches Gesetzbuch, <STRONG>BGB</STRONG></EM>) that the Bidder will be in a position to finance the Transaction contemplated herein (subject to the satisfaction of the conditions set forth in clauses 1.1(f)(i) and 1.1(f)(ii) of this Agreement) and that a securities services enterprise independent from the Acquirors and their affiliates within the meaning of Section 15 AktG (as defined in clause 3.2(b)) (each individually an <STRONG><EM>Affiliate</EM></STRONG> and collectively the <STRONG><EM>Affiliates</EM></STRONG>) will issue a financing confirmation in accordance with Section 13 Wp&#220;G (the &#8220;<EM><STRONG>Financing Confirmation</STRONG></EM>&#8221;).</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: left"></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">1.5</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">Immediately after the Effective Date but only after publication of the ad-hoc announcement pursuant to clause 2.1, BW shall publish a press release in respect of the Transaction as set forth in <STRONG><U>Annex 1.5.</U></STRONG></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: left"></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: left"><B><FONT size=2 face="Times New Roman">2.</FONT></B></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><B><FONT size=2 face="Times New Roman">Support of the Offer by the Company</FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: left"></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">2.1</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">Immediately after the Effective Date, the Company shall publish an ad hoc announcement pursuant to Article 17 of the Regulation (EU) No 596/2014 </FONT><FONT size=2 face="Times New Roman">(European Market Abuse Regulation, </FONT><B><I><FONT size=2 face="Times New Roman">MAR</FONT></I></B><FONT size=2 face="Times New Roman">) as set forth in </FONT><B><FONT size=2 face="Times New Roman"><U>Annex 2.1(a)</U> </FONT></B><FONT size=2 face="Times New Roman">and a press release in respect of the Transaction as set forth in <U><B>Annex 2.1(b)</B></U>.</FONT></TD></TR></TABLE>


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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: normal; border-collapse: collapse; width: 100%">





<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">2.2</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">If the Offer complies with the requirements set forth in clause 1.1(b), as soon as practical and in no event later than two (2) weeks following publication of the Offer Document, the Management Board shall, and shall use its reasonable endeavors that the Supervisory Board will, (i) prepare a statement required pursuant to Section 27 Wp&#220;G&nbsp;<FONT size=2 face="Times New Roman">&nbsp;(</FONT><I><FONT size=2 face="Times New Roman">begr&#252;ndete Stellungnahme</FONT></I><FONT size=2 face="Times New Roman">, the </FONT><FONT size=2 face="Times New Roman"><EM><STRONG>Reasoned Statement</STRONG></EM>) either separately or jointly and (ii) publish the Reasoned Statement pursuant to Sections 27 para. 1, 14 para. 3 Wp&#220;G. Prior to the publication of the Reasoned Statement, AKASOL shall make available to the Acquirors and their advisors a draft of the Reasoned Statement for review and comments, and the Management Board shall, and shall use its reasonable endeavors that the Supervisory Board will, take account in good faith of any reasonable comments if and to the extent legally permissible and subject to the applicable law and their Fiduciary Duties (as defined in clause 3.2(b)).</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">2.3</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">If the Offer complies with the requirements set forth in clause 1.1(b), the Management Board shall, and shall use its reasonable endeavors that the Supervisory Board will, subject to the applicable law and their Fiduciary Duties and after having duly and thoroughly reviewed and analysed the Offer, state in&nbsp;the Reasoned Statement that, (i) in their reasonable opinion, the Offer is in the best interest of AKASOL, (ii) the Offer Price is fair and adequate (<EM>angemessen</EM>) and that, therefore, the Management Board and Supervisory Board support the Offer and recommend to AKASOL&#8217;s shareholders to accept it, except in case of a publication of an offer document pursuant to Section 14 para. 2 Wp&#220;G for a competing offer, if (i) the offer price and other terms and conditions of the competing offer in the reasonable opinion of the Management Board and the Supervisory Board, after having duly and thoroughly reviewed and analysed the competing offer, are materially better and more in the interest of AKASOL, and (ii) provided that the publication of the competing offer occurs prior to the Offer Completion and the Bidder has not increased its Offer Price to a price at least equal to the price offered under the competing offer within five (5) Business Days after publication of the competing offer ((i) and (ii) collectively the <STRONG><EM>Competing Offer Exemption</EM></STRONG>).</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: justify">&nbsp;&nbsp;&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">2.4</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">Unless the Competing Offer Exemption applies and only if the Offer complies with the requirements set forth in clause 1.1(b), from the Effective Date and to the extent legally permissible (<EM>im Rahmen des rechtlich Zul&#228;ssigen</EM>), the Management Board shall, and shall use its reasonable endeavors that the Supervisory Board will, and AKASOL shall use its reasonable endeavors that the individual members of the Management Board and the Supervisory Board will subject to the applicable law and their Fiduciary Duties:</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not withdraw, amend or qualify adversely to the Bidder the statements under clause 2.3 or the Reasoned Statement or withdraw its intention to give the Reasoned Statement as set forth above;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">not do any act, including making any public statement, which (i) is contrary to the statements according to clause 2.3 or the Reasoned Statement, (ii) should reasonably be expected by a prudent person to materially jeopardize or materially and adversely affect the success or the timely completion of the Offer in violation of the provisions of this Agreement (except for insignificant delays caused during the preparation), (iii) should reasonably be expected by a prudent person to materially jeopardize the satisfaction of the Offer Conditions or (iv) recommends that AKASOL&#8217;s shareholders take or consider taking any such action (together, jointly or individually </FONT><B><I><FONT size=2 face="Times New Roman">Negative Offer Effects</FONT></I></B><FONT size=2 face="Times New Roman">);</FONT></TD></TR></TABLE>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">4|24</FONT></P>

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<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>

<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>




<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">until the end of the additional acceptance period (</FONT><I><FONT size=2 face="Times New Roman">weitere Annahmefrist</FONT></I><FONT size=2 face="Times New Roman">) pursuant to Section 16 para. 2 sentence 1 Wp&#220;G, only express a position that is consistent with the statements in clause 2.3 and the Reasoned Statement in all public communication, including any press interviews, roadshows and informal contacts with the press, investors or the public;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not solicit, welcome or recommend (or agree or resolve to recommend) the preparation, announcement of intention, or launch of any competing offer within the meaning of Section 22 para. 1 Wp&#220;G (unless the Competing Offer Exemption applies); and</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(e)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not, directly or indirectly, through any representative acting on the Company&#8217;s behalf, initiate, solicit or knowingly facilitate or encourage the making of any proposals, have any negotiations with or furnish any information to another party with regard to the sale of the Company, whether by stock or asset purchase, merger or otherwise, or with regard to any other transaction outside the ordinary course of business involving the stock, assets or business of the Company (a </FONT><FONT size=2 face="Times New Roman"><STRONG><EM>Sale of the Company</EM></STRONG>), and the Company shall in due course (<EM>unverz&#252;glich</EM>) notify BW in writing if it is approached by a third party considering a competing offer and, if applicable, deliver to BW a copy of any written offer concerning a competing offer or other proposed Sale of the Company, (and if the Company is prohibited from sharing a copy of any such offer, then the Company shall, if and to the extent not prohibited under applicable law or contract, deliver written notice of the same to BW, and such notice shall contain the material terms and conditions of such competing offer or other proposed Sale of the Company, without limitation, including price, form of consideration and identification of the party proposing the offer).</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><B><FONT size=2 face="Times New Roman">3.</FONT></B></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman">Further Support of the Transaction and Deal Protection</FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">3.1</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">If the Offer complies with the requirements set forth in clause 1.1(b), to the extent legally permissible (inter alia under applicable competition laws) and subject to the Fiduciary Duties, AKASOL hereby undertakes that from the Effective Date to the earlier of (i) the termination of this Agreement and (ii) the Offer Completion or such longer period indicated below, AKASOL itself will and will use its shareholder&#8217;s rights that any member of the AKASOL Group will, unless approved by BW whose consent shall be deemed granted unless BW objects to a respective request by AKASOL addressed to Demetri Samohin by email at </FONT><FONT size=2 face="Times New Roman">dsamohin@borgwarner.com</FONT><FONT size=2 face="Times New Roman">, with a copy to Tonit Calaway by email at tcalaway@borgwarner.com, within five (5) Business Days upon receipt of such request,</FONT></TD></TR></TABLE>


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<P STYLE="text-align: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>

<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>


<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">refrain from initiating any measures or steps which may have any Negative Offer Effects;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">in all material respects, carry on its business in the ordinary course of business as determined by AKASOL&#8217;s business plan as disclosed to BW prior to the Effective Date (<STRONG><EM>Business Plan</EM></STRONG>) and AKASOL&#8217;s past practice as disclosed to BW prior to the Effective Date (collectively the <STRONG><EM>Ordinary Course of Business</EM></STRONG>);</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">refrain from entering into joint ventures, partnerships or other forms of co-operations outside the Ordinary Course of Business which are not within the scope of the AKASOL business and are material to the value of its business taken as a whole (matters of <STRONG><EM>Material Nature</EM></STRONG>) (for the avoidance of doubt, not including any customer-supplier co-operations entered into in the Ordinary Course of Business) with third parties unless, in each case, such measure is expressly disclosed to BW in the due diligence conducted by BW related to the&nbsp;&nbsp;Transaction prior to the date hereof;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">refrain from selling, transferring or encumbering material assets of the AKASOL Group (including investments in intangible assets, fixed assets or financial assets), either directly or indirectly, by way of a merger or another form of transformation, takeover, acquisition,&nbsp; transfer, disposal or similar transaction with one or more third parties or disposing of any such assets in another manner unless, in each case, such measure is disclosed to BW in the due diligence conducted by BW related to the Transaction prior to the date hereof, and except for disposals of assets in the Ordinary Course of Business;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(e)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not make any material change in the compensation paid or payable to any officer, director or manager of any member of the AKASOL Group, or pay or agree to pay any bonus or similar payment (other than bonus payments or other amounts to which a member of the AKASOL Group is committed and which have been expressly disclosed in the due diligence conducted by BW related to the Transaction prior to the date hereof) except for any changes made within the Ordinary Course of Business;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(f)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not modify, amend, cancel or terminate any contract or agreement that is of Material Nature (other than modifications or amendments made in the Ordinary Course of Business) or any employee benefit plan;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(g)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not enter into any contract or agreement (i) with respect to which any member of the AKASOL Group has any liability or obligation involving more than &#8364;1,000,000, contingent or otherwise (other than in the Ordinary Course of Business), or (ii) that may place any limitation on the method of conducting or scope of the business of any member of the AKASOL Group;</FONT></TD></TR></TABLE>


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<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>

<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(h)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not enter into any contract, agreement or other arrangement between (i) the AKASOL Group on the one hand and (ii) any shareholder of the AKASOL Group and/or their respective Affiliates, any person close (<EM>nahestehend</EM>) to any shareholder of the AKASOL Group and/or their respective Affiliates or any of their direct or indirect shareholders within the meaning of IAS 24 or affiliated companies within the meaning of section 15 <EM>et. seq.</EM> of the AktG of such persons;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(i)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not materially amend or modify any organizational documents of any member of the AKASOL Group to the extent such material amendment would reasonably expected to adversely affect the holder of AKASOL shares;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(j)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not split, combine or reclassify any of its capital stock or issue or authorize the issuance of any other securities in respect of, in lieu of or in substitution for shares of its capital stock and not make any resolution proposal to AKASOL&#8217;s shareholders&#8217; meeting in 2021 to any such effect;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(k)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not authorize, make, declare or pay any dividends on or make any distribution with respect to outstanding shares of capital stock (whether in cash, assets, stock or other securities of any member of the AKASOL Group);</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(l)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not permit any member of the AKASOL Group to adopt a plan of complete or partial liquidation, dissolution, merger, consolidation, restructuring, recapitalization or other reorganization, other than the Transaction;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(m)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not permit any member of the AKASOL Group to make or commit to make any acquisition of any other person or business or make any loans, advances or capital contributions to, or investments in, any other person with a value in excess of &#8364;1,000,000 in the aggregate, except in the&nbsp;Ordinary Course of Business; <EM>provided, however,</EM> that no member of the AKASOL Group shall make any acquisition of any other person or business or make loans, advances or capital contributions to, or investments in, any other person that would reasonably be expected to prevent, materially impede or materially delay the consummation of the Transaction;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(n)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not permit any member of the AKASOL Group to sell, lease, license, abandon, transfer, exchange or swap, or otherwise dispose of or encumber (including pursuant to a sale-leaseback arrangement) any properties, rights or assets with a value in excess of &#8364;1,000,000, except in the Ordinary Course of Business;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(o)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not establish any shareholder rights plan or grant any shareholder rights or issue, sell, pledge, dispose of, grant or encumber, or authorize the issuance, sale, pledge, disposition, grant or encumbrance of, any shares of capital stock or other equity ownership interest in any member of the AKASOL Group or any securities convertible into or exchangeable for any such shares or equity ownership interest, or any rights, warrants or options to acquire any such shares of capital stock, equity ownership interest or convertible or exchangeable securities;</FONT></TD></TR></TABLE>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">7|24</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>

<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>




<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(p)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not make any resolution proposal to AKASOL&#8217;s shareholders&#8217; meeting in 2021 related to structural measures like in particular capital measures, enterprise agreements pursuant to Section 291 AktG (except with any subsidiaries of AKASOL), or measures under the German Transformation Act (<EM>Umwandlungsgesetz &#8211; <STRONG>Transformation Act</STRONG></EM>);</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(q)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not, directly or indirectly, purchase, redeem or otherwise acquire any shares of the capital stock of any member of the AKASOL Group or any rights, warrants or options to acquire any such shares;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(r)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not incur, assume or guarantee any indebtedness for borrowed money, except for (i) borrowings under credit or loan agreements existing and not yet drawn at the Effective Date which shall not exceed EUR 25 million in the aggregate for the AKASOL Group, (ii) guarantees and factorings not to exceed EUR 10 million in the aggregate for the AKASOL Group and (iii) indebtedness among the Company and any other member of the AKASOL Group; </FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(s)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not make any capital expenditures which go beyond the Ordinary Course of Business and, for the avoidance of doubt, are in excess of the amount of capital expenditures for the respective investment contemplated by the Business Plan;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(t)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not change its payment policies with suppliers to delay or postpone making payments beyond their due date, other than, for the avoidance of doubt, in the Ordinary Course of Business or to the extent in line with AKASOL&#8217;s interest to avoid incomplete or faulty deliveries from suppliers;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(u)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not permit any member of the AKASOL Group to materially (i) change financial accounting policies or procedures or any of its methods of reporting income, deductions or other material items for financial accounting purposes, except as required by International Financial Reporting Standards or other applicable accounting standards, financial regulatory rule or policy or applicable law;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(v)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not file or make any material change to any material tax election or any tax return, except as required by applicable law; and</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(w)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">not permit any director or officer of the AKASOL Group to, agree, authorize, or consent in writing or otherwise, to take any of the foregoing actions that are prohibited pursuant to this clause 3.1.</FONT></TD></TR></TABLE>


<P STYLE="text-align: right"><FONT size=2 face="Times New Roman">8|24</FONT></P>

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<!-- Part 03 -->
<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">3.2</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Nothing in this Agreement shall prevent AKASOL, the Management Board, the Supervisory Board or any member of the AKASOL Group from:</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="98%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">providing information duly requested or required by a regulatory authority, provided, however, the Company, to the extent legally permissible, shall provide prior written notice thereof to BW to enable BW to seek a protective order or otherwise prevent such disclosure in accordance with applicable law;</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="98%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">acting in accordance with their fiduciary duties, in particular but not limited to, (i) the duty of care and loyalty under Sections 76, 93 and 116 German Stock Corporation Act (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesetz </FONT></I><FONT size=2 face="Times New Roman">&#8211; </FONT><B><I><FONT size=2 face="Times New Roman">AktG</FONT></I></B><FONT size=2 face="Times New Roman">), (ii) the duties under Section 33 para. 1 sentence 1 Wp&#220;G and (iii) the managerial tasks and duties to the extent legally required (Sections 76, 93 as well as 116 AktG) (the </FONT><B><I><FONT size=2 face="Times New Roman">Fiduciary Duties</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">3.3</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Bidder shall notify AKASOL of the occurrence of any circumstance which would be reasonably likely to result in the non-compliance with any of the Bidder&#8217;s obligations under this Agreement, and AKASOL, to the extent legally permissible, shall notify the Bidder of the occurrence of any circumstance which would be reasonably likely to result in the non-compliance with any of AKASOL&#8217;s obligations under this Agreement.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">3.4</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">AKASOL shall notify the Bidder within three (3) Business Days of the occurrence of any circumstance that has had or would be reasonably likely to have, individually or in the aggregate, a material adverse impact on the amount of AKASOL&#8217;s cumulative order value of framework agreements and call-off agreements agreed with customers (the </FONT><B><I><FONT size=2 face="Times New Roman">Order Backlog</FONT></I></B><FONT size=2 face="Times New Roman">) and shall in any event notify the Bidder within three (3) Business Days of the occurrence of any circumstance that would be reasonably likely to reduce the Order Backlog below EUR 1.75 billion.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">4.</FONT></B></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Regulatory Clearances Cooperation</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">4.1</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">As soon as reasonably practicable after the Effective Date, the Bidder shall, in cooperation with AKASOL, finally determine all necessary (i) merger control clearances that are required, pursuant to the applicable merger control laws, for the Offer Completion (as a result of any approval, if required, being granted by any competent merger control authority or the expiration of any applicable waiting period and the absence of an order by any competent authority or court preliminary or permanently prohibiting the transaction, or otherwise), and (ii) any other regulatory or governmental clearances ((i) and (ii) together the </FONT><B><I><FONT size=2 face="Times New Roman">Clearances</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">4.2</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">As at the date of this Agreement, the Parties agree that a Clearance is expected to be required pursuant to the applicable laws of Germany, Austria and Poland.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">4.3</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Bidder and, as applicable, BW and the AKASOL Group will file for the required Clearances as soon as reasonably practicable after the Effective Date. Where relevant, the filing(s) shall be made by the Bidder on behalf of all parties involved (to the extent permitted under applicable law). All filing fees or other disbursements in connection with the Clearances shall be borne by the Bidder.</FONT></P></TD></TR></TABLE>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">9|24</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>BCA</FONT></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">4.4 </FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">In order to obtain the Clearances, the Acquirors and the AKASOL Group shall cooperate, to the extent legally permissible, in all respects with each other in the preparation of all relevant filings and, in connection with any submission, investigation or inquiry, supply to any competent authority as promptly as practicable any additional information requested pursuant to any applicable law and take all other reasonable procedural actions (other than, for the avoidance of doubt, offering remedies or entering into any commitment to reduce merger control concerns of competition authorities) required in order to obtain any Clearance(s) or to cause any applicable waiting periods to commence and expire. In connection with the proceedings required to obtain the Clearances, the BW and AKASOL shall (i) promptly provide each other with copies of any material written communication (or written summaries of any material non-written communication) with any competent authority, (ii) have material contact, or communications with, any competent authority only after consultation with the other Party, (iii) promptly inform each other in advance of the time and place of any material meetings and calls with any competent authority and (iv) give each other and their respective advisors the opportunity to participate in all such meetings or calls. Without limiting the foregoing, (x) the BW Group, on the one hand, and the members of the AKASOL Group, on the other hand, shall not take any action that has or may have the effect of extending any applicable waiting period or comparable period under applicable law or enter into any agreement with any competent authority not to consummate the transactions contemplated hereby, except with the prior written consent of the other Party, and (y) no member of the AKASOL Group, without BW&#8217;s advance written consent in BW&#8217;s sole discretion, shall, directly or indirectly, propose, negotiate, consent to, undertake, or agree to any sale, divestiture, lease, license, transfer, disposition, encumbrance, restriction, impairment, limitation of freedom of operation, or hold separate of any assets, licenses, properties, operations, rights, product lines, businesses, or interests of the AKASOL Group, in each case being either material or outside of the ordinary business practice.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">4.5</FONT></FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">In exchanging or conveying information, submissions, correspondence and communications, to the extent required by applicable law, competitively or commercially sensitive information of one Party shall be redacted from the version shared with the other Party. Such non-confidential versions shall be supplied without undue delay and the exchange of any competitively or commercially sensitive information prohibited from being shared among the Parties by applicable law shall be limited to legal advisors and/or outside advisors provided that such exchange shall be conducted in a manner reasonably designed to preserve applicable lawyer/client and lawyer work product privileges.</FONT></P></TD></TR>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  <TR STYLE="vertical-align: bottom">
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>

   <TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">5.</FONT></B></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Business Strategy</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">5.1</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Bidder acknowledges that AKASOL pursues a defined and successful business strategy which comprises, inter alia, the support of the existing business and operating model.</FONT></P>





   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Bidder will generally support this business strategy, AKASOL and the Management Board in its implementation and cooperate with the Management Board to maximize the efficiencies and gains to be made through AKASOL&#8217;s strategy.</FONT></P></TD></TR>
</TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">10|24</FONT></P>

<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>BCA</FONT></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>











<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">5.2</FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Acquirors will, and undertake that the relevant members of the Booster Group will, for a period of thirty-six (36) months following the Offer Completion:</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">(a)</FONT></P></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">preserve and support the corporate culture of ABBA Group; and </FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">(b)</FONT></P></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">use best efforts to keep the current members of the Management Board in office with their respective responsibilities.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">5.3</FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Parties agree that in light of the currently challenging and volatile market environment, and the aim of sustainable value creation, being listed on the regulated market might not be in the best interest of the Company. The Company therefore acknowledges that this Transaction forms part of a taking private transaction/strategy and the Acquirors therefore intend to implement a squeeze-out of the minority shareholders and/or a separate delisting of the AKASOL Shares following the Offer Completion, in each case subject to all applicable legal requirements. The Acquirors will consult with the Management Board and take into consideration its reasonable comments and opinion prior to initiating such implementation.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"><B><FONT size=2 face="Times New Roman">6.</FONT></B></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Brand</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Parties acknowledge that AKASOL owns several brands in certain countries with a high degree of brand awareness by the respective markets and customers. Within two weeks after Offer Completion, the Parties will negotiate in good faith and enter into a license agreement at arm&#8217;s length conditions allowing BW and/or its Affiliates to use AKASOL&#8217;s trademark rights, in particular the trademarks protecting the designation &#8220;AKASOL&#8221;, the terms of which may include certain exclusivities.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"><B><FONT size=2 face="Times New Roman">7.</FONT></B></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Corporate Governance</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">7.1</FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Management Board / Role of Management</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">After the Offer Completion, the Management Board shall continue to manage AKASOL independently and exclusively in its own responsibility pursuant to and within the framework of German law. Consequently, following Offer Completion, the Bidder shall not issue directives to the Management Board or any of its members, unless there is a domination agreement within the meaning of Section 291 AktG concluded, and subject to its legal obligations to support the implementation of this Agreement, there is no obligation on the part of the Management Board or any of its members to carry out or refrain from a legal transaction or act at the inducement of the Bidder, whether in form of a request, a demand, or an instruction.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">11|24</FONT></P>

<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>BCA</FONT></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">7.2 </FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Supervisory Board</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Bidder will have majority representation on the Supervisory Board in a manner which appropriately reflects its shareholding following the Offer Completion subject to the appointment of its representatives by the competent court pursuant to Section 104 AktG and/or a respective resolution of AKASOL&#8217;s shareholders&#8217; meeting.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="98%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Supervisory Board acknowledges the Bidder&#8217;s interest spelt out in clause 7.2(a) and will not unduly prevent or delay the Bidder from achieving this objective after the Offer Completion.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">AKASOL shall use its reasonable best efforts to the extent legally permissible and possible to ensure that after the Offer Completion any resigning Supervisory Board member will be replaced by a representative of the Bidder to be appointed in accordance with a respective resolution of AKASOL&#8217;s shareholders&#8217; meeting and/ or Section 104 AktG and that the applications to the court and the selection of potential Supervisory Board candidates to be included therein will be prepared (but not filed prior to the settlement of the Transaction) in cooperation with the Bidder prior to the settlement of the Transaction to allow the appointment of the replacement Supervisory Board members as soon as practicable but in any event within two weeks after the settlement of the Transaction.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"><B><FONT size=2 face="Times New Roman">8.</FONT></B></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Workforce</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">8.1</FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">General Commitment</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Bidder acknowledges that the dedicated workforce of the AKASOL Group is the foundation for the current and future success of AKASOL and that the current and future success of AKASOL depends on the creativity and performance of AKASOL Group&#8217;s workforce and their potential for innovation both which heavily rely on the competence and the commitment of the employees of AKASOL.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="98%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Bidder intends to support the Management Board (i) in maintaining and developing an attractive and competitive framework to retain an excellent employee base and (ii) in the continued effort to attract talents.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">8.2</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">No Reduction of Workforce / Further Bidder&#8217;s Commitments</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Bidder undertakes (except as required by law or as may be otherwise recommended by the Management Board and/or Supervisory Board):</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">to support an adequate growth of the workforce of the AKASOL Group in line with business development;</FONT></P></TD></TR>

   <TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">to respect the rights of the AKASOL Group employees;</FONT></P></TD></TR>
   </TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">12|24</FONT></P>

<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>BCA</FONT></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>




<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">not to cause AKASOL to issue until 2024 terminations for operational reasons (</FONT><I><FONT size=2 face="Times New Roman">betriebsbedingte K&#252;ndigungen</FONT></I><FONT size=2 face="Times New Roman">) of employees and the Bidder does not intend to cause AKASOL in 2021, 2022 or 2023 to reduce the remaining current workforce of the AKASOL Group in excess of workforce reductions recommended by the Management Board, in each case unless AKASOL comes into a situation in which its existence is at risk and therefore justifies, or otherwise requires, compulsory redundancies (</FONT><I><FONT size=2 face="Times New Roman">betriebsbedingte K&#252;ndigungen</FONT></I><FONT size=2 face="Times New Roman">); and</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">to support the adequate participation of AKASOL&#8217;s management and employees in AKASOL&#8217;s success.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">9.</FONT></B></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Corporate Measures</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">9.1</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Nothing in this Agreement shall prevent any of the Parties to seek to enter into and/or to adopt resolutions in favor of any enterprise agreements pursuant to Section 291 AktG, merger under the Transformation Act, change of corporate form (conversion) under the Transformation Act, squeeze-out under the AktG or the Wp&#220;G, merger squeeze-out under the Transformation Act or integration under the AktG, delisting and other similar measures (</FONT><B><I><FONT size=2 face="Times New Roman">Reorganisation Measures) </FONT></I></B><FONT size=2 face="Times New Roman">in relation to the Company and or the Bidder. Following any merger of the Company and the Bidder, all stipulations herein on rights and obligations of the Company shall apply to the merged company </FONT><I><FONT size=2 face="Times New Roman">mutatis mutandis</FONT></I><FONT size=2 face="Times New Roman">.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">9.2</FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">In the event of the implementation of a Reorganisation Measure, nothing in this Agreement shall prevent the Acquirors or another member of the BW Group to require and to take steps to implement measures which are directed at fully realizing synergy effects from the envisaged business combination or optimizing the tax structure or realizing tax benefits of the combined group.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">10.</FONT></B></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Corporate Approvals</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">10.1</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Acquirors hereby confirm that their respective competent corporate bodies have agreed to concluding and executing this Agreement and to pursue the Offer. No further approvals or permissions are required on the Acquirors&#8217; part for concluding and executing this Agreement.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">10.2</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">AKASOL hereby confirms that the Management Board agreed to concluding and executing this Agreement and that the Supervisory Board approved such decision by the Management Board and that no further approvals or permissions are required on AKASOL&#8217;s part for concluding and executing this Agreement.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">11.</FONT></B></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Term and Termination</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">11.1</FONT></TD>
   <TD vAlign=top width="99%" colSpan=2 align=left><P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Agreement shall become effective upon signing of this Agreement and shall have a fixed term, ending thirty-six (36) months after the Effective Date unless terminated under the provisions of clause 11.2.</FONT></P></TD></TR>

   <TR>
   <TD vAlign=top width="1%" noWrap >&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"  colSpan=2></TD></TR>

<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">11.2</FONT></TD>
   <TD width="98%"  colSpan=2><P align=justify><FONT size=2 face="Times New Roman">The Agreement may be terminated solely by mutual agreement of the Bidder and AKASOL or pursuant to the following provisions and with immediate effect by giving notice thereof to the other Party,</FONT></P></TD></TR>
   </TABLE>
   <TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>
<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">by AKASOL or the Bidder (acting in its own name or on behalf of BW) if the Offer lapses as result of non-satisfaction of the Offer Conditions;</FONT></P></TD></TR>

</TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">13|24</FONT></P>

<HR align=center width="100%" noShade size="2">




<!-- Part 04 -->
<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>

<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>


<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">by AKASOL in the following cases:</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>

   </TABLE>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>


<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(i)</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">BaFin has prohibited the publication of the Offer Document or the Offer Document has otherwise not been published in accordance with Section 14 para. 1 and para. 3 Wp&#220;G;</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(ii)</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">the offer price offered in the Offer is lower than the Offer Price;</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD width="98%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(iii)</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">the Offer contains conditions within the meaning of Section 18 para. 1 Wp&#220;G (</FONT><I><FONT size=2 face="Times New Roman">Angebotsbedingungen</FONT></I><FONT size=2 face="Times New Roman">) that materially differ from the Offer Conditions set out in Annex 1.2 without being requested by BaFin and otherwise does not correspond to the requirements set forth in clause 1; or</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD width="98%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(iv)</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">the Bidder or BW has breached any material provision of this Agreement.</FONT></P></TD></TR></TABLE>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(c)</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">by the Bidder (in its own name or on behalf of BW) in the following cases:</FONT></P></TD></TR></TABLE>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(i)</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">AKASOL has breached any material provision of this Agreement;</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD width="98%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(ii)</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">the Management Board or the Supervisory Board do not support the Offer in their Reasoned Statement in accordance with clause 2.2 otherwise in accordance with this Agreement, including clause 2 unless that they act in accordance with the applicable laws and/or the Fiduciary Duties or</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD width="98%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(iii)</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">any of the Offer Conditions would have failed if it had been applied during the period from the Bidder&#8217;s announcement of its intention to launch the Offer pursuant to clause 1.1(a) until the publication of the Offer Document.</FONT></P></TD></TR></TABLE>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(d)</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">In the event of a termination of this Agreement by AKASOL according to clause 11.2(b) or by the Bidder according to clause 11.2(c)(iii), the Bidder shall not be obliged to further execute the Offer.</FONT></P></TD></TR></TABLE>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">11.3</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">Notice of any termination must be given in writing and, except for termination pursuant to clauses 11.2(a) or 11.2(b)(i), must be made within ten (10) Business Days after the terminating Party having become aware of the event triggering a termination right. In the event of termination of this Agreement, this Agreement shall have no further effect save for clause 11 and 12 as well as other provisions the surviving of which is expressly agreed on in this Agreement (and which shall remain in full force and effect) but without prejudice to the accrued rights of each Party upon termination. The termination shall not affect the right of any Party to claim damages pursuant to applicable laws due to a breach by the other Party of its obligations under this Agreement.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">14|24</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">11.4</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">The right to terminate this Agreement for good cause (</FONT><I><FONT size=2 face="Times New Roman">aus wichtigem Grund</FONT></I><FONT size=2 face="Times New Roman">) shall remain unaffected. Good cause shall exist where the terminating Party, taking into account all circumstances of the specific case and weighing the interests of the Parties, cannot reasonably be expected (</FONT><I><FONT size=2 face="Times New Roman">unzumutbar</FONT></I><FONT size=2 face="Times New Roman">) to continue the contractual relationship through the remainder of the agreed fixed term (Section 314 para. 1 sentence 1 BGB).</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap><B><FONT size=2 face="Times New Roman">12.</FONT></B> </TD>
   <TD width="98%">
   <P align=justify><B><FONT size=2 face="Times New Roman">Miscellaneous</FONT></B></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD width="98%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">12.1</FONT></TD>
   <TD width="98%">
   <P align=justify><B><FONT size=2 face="Times New Roman">Assignment</FONT></B></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD width="98%">&nbsp;</TD></TR>
<TR>
   <TD width="1%"></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">Any rights under this Agreement may only be assigned with the prior written consent of the other Parties provided that each of the Acquirors shall have the right to assign this Agreement to its Affiliates.</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD width="98%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">12.2</FONT></TD>
   <TD width="98%">
   <P align=justify><B><FONT size=2 face="Times New Roman">No Third Party Rights</FONT></B></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD width="98%">&nbsp;</TD></TR>
<TR>
   <TD width="1%"></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">For the avoidance of doubt, this Agreement shall only grant rights to the Parties and shall not constitute a contract for the benefit of third parties (</FONT><I><FONT size=2 face="Times New Roman">Vertrag zu Gunsten Dritter</FONT></I><FONT size=2 face="Times New Roman">) or a contract with protective effect for third parties (</FONT><I><FONT size=2 face="Times New Roman">Vertrag mit Schutzwirkung f&#252;r Dritte</FONT></I><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD width="98%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">12.3</FONT></TD>
   <TD width="98%">
   <P align=justify><B><FONT size=2 face="Times New Roman">Costs</FONT></B></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD width="98%">&nbsp;</TD></TR>
<TR>
   <TD width="1%"></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">Each Party shall bear its own fees and expenses with regard to the Transaction and the conclusion of this Agreement (including costs of their respective advisors).</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD width="98%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">12.4</FONT></TD>
   <TD width="98%">
   <P align=justify><B><FONT size=2 face="Times New Roman">Notices</FONT></B></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD width="98%">&nbsp;</TD></TR>
<TR>
   <TD width="1%"></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">Any and all notices and communications under this Agreement shall be made in writing in the English language and delivered by hand, by courier, or by email to the person at the address set forth below, or such other person or address as may be designated by the respective Party to the other Parties in the same manner:</FONT></P></TD></TR></TABLE>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="2%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="97%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="2%" noWrap><FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD width="97%">
   <P align=justify><FONT size=2 face="Times New Roman">if to the Bidder:</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="2%" noWrap></TD>
   <TD width="97%">&nbsp;</TD></TR>
<TR>
   <TD width="1%"></TD>
   <TD width="2%"></TD>
   <TD width="97%">
   <P align=justify><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG)</FONT></P></TD></TR>
<TR>
   <TD width="1%"></TD>
   <TD width="2%"></TD>
   <TD width="97%">&nbsp;</TD></TR>
<TR>
   <TD width="1%"></TD>
   <TD width="2%"></TD>
   <TD width="97%">
   <P align=justify><FONT size=2 face="Times New Roman">Attn.: Robert Boyle<BR>c/o BorgWarner Europe GmbH<BR>Augustaanlage 54-56<BR>68165 Mannheim<BR>Germany</FONT></P></TD></TR>
<TR>
   <TD width="1%"></TD>
   <TD width="2%"></TD>
   <TD width="97%">&nbsp;</TD></TR>
<TR>
   <TD width="1%"></TD>
   <TD width="2%"></TD>
   <TD width="97%">
   <P align=justify><FONT size=2 face="Times New Roman">Email: rboyle@borgwarner.com</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">15|24</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">For the attention of: Robert Boyle</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="1%" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">with a copy to:</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Freshfields Bruckhaus Deringer</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Rechtsanw&#228;lte Steuerberater PartG mbB</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Attn.: Rick van Aerssen and Dr. Sabrina Kulenkamp</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Bockenheimer Anlage 44</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">60322 Frankfurt am Main</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Germany</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Email: rick.aerssen@freshfields.com</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;sabrina.kulenkamp@freshfields.com</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">and</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Foley &amp; Lardner LLP</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Attn.: Patrick G. Quick</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">111 Huntington Avenue</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Boston, MA 02199</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">United States of America</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Email: pgquick@foley.com</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">if to BW</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">BorgWarner Inc.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Attn.: Tonit Calaway</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">3850 Hamlin Road</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Auburn Hills, MI 48326</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">United States of America</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Email: tcalaway@borgwarner.com</FONT></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">16</FONT><FONT size=2 face="Times New Roman">|24</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">with a copy to:</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="1%" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Freshfields Bruckhaus Deringer</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Rechtsanw&#228;lte Steuerberater PartG mbB</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Attn.: Rick van Aerssen and Dr. Sabrina Kulenkamp</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Bockenheimer Anlage 44</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">60322 Frankfurt am Main</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Germany</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Email: rick.aerssen@freshfields.com</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;sabrina.kulenkamp@freshfields.com</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">and</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Foley &amp; Lardner LLP</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Attn.: Patrick G. Quick</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">777 East Wisconsin Avenue</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Boston, MA 53202</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">United States of America</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Email: pgquick@foley.com</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">(c)</FONT></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">if to the Company:</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">AKASOL AG</FONT></TD></TR>
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   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Attn.: Sven Schulz, Carsten Bovenschen</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">email: </FONT><FONT size=2 face="Times New Roman">sven.schulz@akasol.com</FONT><FONT size=2 face="Times New Roman">, </FONT><FONT size=2 face="Times New Roman">carsten.bovenschen@akasol.com</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">with a copy to:</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Hogan Lovells International LLP</FONT></TD></TR>
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   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Attn.: Michael Schlitt, Tim Brandi</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Email: </FONT><FONT size=2 face="Times New Roman">michael.schlitt@hoganlovells.com,</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">tim.brandi@hoganlovells.com</FONT></TD></TR>
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   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">Gro&#223;e Gallusstra&#223;e 18</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="98%" noWrap align=left><FONT size=2 face="Times New Roman">60312 Frankfurt</FONT></TD></TR></TABLE>

<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD width="1%"></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">The above contact details shall be deemed valid for service until any changes thereto are notified in writing to the respective other Parties.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">17</FONT><FONT size=2 face="Times New Roman">|24</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">12.5</FONT></TD>
   <TD width="98%">
   <P align=justify><B><FONT size=2 face="Times New Roman">Service of Process</FONT></B></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%">&nbsp;</TD></TR>
<TR>
   <TD width="1%"></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">Clause 12.4 (</FONT><I><FONT size=2 face="Times New Roman">Notices</FONT></I><FONT size=2 face="Times New Roman">) shall not apply in relation to the service of any claim form, notice, order, judgment or other document relating to or in connection with any legal proceedings, suit or action (including arbitration) arising out of or in connection with this Agreement. The Acquirors hereby appoint the lawyers admitted in Germany of the law firm of Freshfields Bruckhaus Deringer Rechtsanw&#228;lte Steuerberater PartG mbB as their agent for service of process for all legal proceedings arising out of or in connection with this Agreement. Any appointments shall only terminate upon the appointment of another agent for service of process domiciled in Germany, provided that the agent for service of process is an attorney admitted to the bar in Germany and her/his appointment has been notified to AKASOL. If the appointment terminates otherwise (e.g., because the appointee ceases to exist), the Acquirors must without undue delay, but in any event no later than within ten (10) Business Days following such termination, appoint another agent for service of process who meets the requirements set out in the preceding sentence. If such appointment is not made as required, service can be effected, by posting the claim form, notice, order, judgment or other document by registered letter with acknowledgement of receipt or equivalent under the address of the respective Party stated in clause 12.4. Service shall then be deemed to have been effected on the addressee on the tenth (10<SUP>th</SUP>) day following the lodging of the letter. The Parties shall promptly issue to the relevant agent a written power of attorney and shall irrevocably instruct the agent to submit such deed in connection with any service of process under or in connection with this Agreement. The Parties agree that they waive any objection to the service so effected.</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="2%" noWrap></TD>
   <TD width="97%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="2%" noWrap><FONT size=2 face="Times New Roman">12.6</FONT></TD>
   <TD width="97%">
   <P align=justify><B><FONT size=2 face="Times New Roman">Confidentiality and Press releases</FONT></B></P></TD></TR>
<TR>
   <TD vAlign=top width="2%" noWrap></TD>
   <TD width="97%">&nbsp;</TD></TR></TABLE>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="2%" noWrap><FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD width="97%">
   <P align=justify><FONT size=2 face="Times New Roman">No Party shall make, or permit the making of, any press release or similar public announcement with respect to this Agreement or the Transaction, and each Party shall keep confidential and not disclose to any third party this Agreement or any confidential information regarding any other Party disclosed to it in connection with this Agreement or its implementation, other than (i) disclosure on a need to know basis to professional advisors, (on AKASOL&#8217;s side) to the members of its supervisory board and their advisors, (on the Acquirors&#8217; side) to sources of debt financing, to the issuer of the Financing Confirmation and to Affiliates or lenders, (ii) as expressly agreed upon with the other Parties and (iii) as may be required, in the good faith discretion of the disclosing party, in order to comply with the requirements of applicable laws or the rules and regulations of any stock exchange upon which any securities of the relevant Party or any of its parent companies are listed. In such circumstances, any disclosure shall be no more extensive in scope and nature than the minimum standard required by the relevant laws, orders, rules or regulations. If a person is so required to make any announcement of or to disclose any confidential information, the relevant Party shall promptly notify the other Party or Parties concerned, where practicable and lawful to do so, before the announcement is made or disclosure occurs and shall cooperate with the other Party or Parties regarding the timing and content of such announcement or disclosure or any action which the other Party or Parties may reasonably elect to take to challenge the validity of such requirement.</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="2%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="97%">
   <P align=justify>&nbsp;</P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="2%" noWrap><FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD width="97%">
   <P align=justify><FONT size=2 face="Times New Roman">Clause 12.6(a) shall not include information that (i) is or has become known in the public domain other than through a fault of the Party obliged to hold the information confidential or of any of such Party&#8217;s Affiliates or (ii) was lawfully known to such Party or to any of such Party&#8217;s Affiliates prior to the signing of this Agreement and which is not subject to any other confidential obligation to the other Party or Parties concerned.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">18</FONT><FONT size=2 face="Times New Roman">|24</FONT></P>
<HR align=center width="100%" noShade size="2">


<!-- Part 05 -->
<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: normal; border-collapse: collapse; width: 100%">

<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left; width: 1%"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left; width: 1%"><FONT size=2 face="Times New Roman">(c)</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: left; text-align: justify; width: 98%"><FONT size=2 face="Times New Roman">Either Party may however disclose any information in connection with this Agreement to its professional advisers and consultants involved in the negotiations of this Agreement and the Offer Document (including the professional advisors of the supervisory board of AKASOL) and the Reasoned Statement may contain a summary of this Agreement.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left; text-align: justify"></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">(d)</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: left; text-align: justify"><FONT size=2 face="Times New Roman">If and to the extent this clause 12.5 and the confidentiality agreement entered into between BW and the Company dated 15 July 2020 overlap, this clause 12.5 shall prevail.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: left; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">(e)</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: left; text-align: justify"><FONT size=2 face="Times New Roman">From the Effective Date, none of the Parties shall make any further public announcements or press releases in relation to the Transaction, unless otherwise agreed between the Parties, explicitly provided for in this Agreement or required by applicable law or upon written request by a competent authority. Notwithstanding the foregoing, BW may disclose information regarding this Agreement, the Offer and the AKASOL Group in meetings with its existing or prospective investors, provided that the Acquirors shall provide a copy of any presentation to be used in such an investor meeting to AKASOL in advance of such investor meeting.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; text-align: left; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">12.7</FONT></P></TD>
   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: left">
   <B><FONT size=2 face="Times New Roman">Entire Agreement; Form</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">



   </TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">


   </TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">
   <FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: left; text-align: justify"><FONT size=2 face="Times New Roman">This Agreement (including all Annexes hereto) contains all of the Parties' agreements and understandings with respect to the subject matter hereof. No side agreements to this Agreement, whether verbally or in writing, have been entered into between the Parties. Any and all amendments to this Agreement or waivers must be made in writing, unless stricter requirements as to their form are required by mandatory law. This shall also apply to any waiver of compliance with the provisions of this clause 12.7.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">


   </TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">


   </TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">
   <FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: left; text-align: justify"><FONT size=2 face="Times New Roman">This Agreement may be executed by the Parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such counter-parts shall together constitute one and the same instrument. Any signature (including, without limitation, (i) any electronic symbol or process attached to, or associated with, a contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record and (ii) any facsimile, E-pencil or .pdf signature) hereto or to any other certificate, agreement or document related to this Agreement, and any contract formation or record-keeping, in each case, through electronic means, shall have the same legal validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law.</FONT></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">19|24</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>
<TABLE style="LINE-HEIGHT:normal; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">12.8</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify">
   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Governing Law, Dispute Resolution</FONT></B></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify">
   <P STYLE="text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify">
   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify">
   <FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify">
   <FONT size=2 face="Times New Roman">This Agreement shall be governed by, and construed in accordance with, the laws of Germany (excluding conflict of laws rules).</FONT></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;</TD>
   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify">
   </TD>
   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify">
   </TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify">
   <FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify">
   <FONT size=2 face="Times New Roman">All disputes arising out of or in connection with this Agreement or its validity shall be finally settled in accordance with the Arbitration Rules of the German Arbitration Institute (DIS) without recourse to the ordinary courts of law. The arbitral tribunal shall be comprised of three members. The seat of the arbitration is Frankfurt am Main, Germany. The language of the arbitration shall be English.</FONT></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;</TD>
   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify">
   </TD>
   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify">
   </TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">12.9</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify">

   <B><FONT size=2 face="Times New Roman">Definitions</FONT></B></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify">

   <P STYLE="text-align: justify">&nbsp;</P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify">

   <FONT size=2 face="Times New Roman">Terms to which a German translation has been added shall be interpreted as having the meaning assigned to them by the German translation. The headings of the clauses and subclauses in this Agreement are for convenience purposes only and shall not affect the interpretation of any of the provisions hereof.</FONT></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify">&nbsp;</TD>
   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify">
   </TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">12.10</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify">

   <B><FONT size=2 face="Times New Roman">Severability</FONT></B></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify">
   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Should any provision of this Agreement, or any provision incorporated into this Agreement in the future, be or become invalid or unenforceable, the validity or enforceability of the other provisions of this Agreement shall not be affected thereby. Instead of the invalid or unenforceable provision a suitable and equitable provision shall apply that, so far as is lawfully possible, comes as close as possible to the intent and purpose of the invalid or unenforceable provision. The same shall apply: (i) if the Parties have unintentionally failed to address a certain matter in this Agreement (</FONT><I><FONT size=2 face="Times New Roman">Regelungsl&#252;cke</FONT></I><FONT size=2 face="Times New Roman">); in which case a suitable and equitable provision shall be deemed to have been agreed upon which comes as close as possible to what the Parties, in the light of the intent and purpose of this Agreement, would have agreed upon if they had considered the matter; or (ii) if any provision of this Agreement is invalid because of the scope of any time period or performance stipulated herein; in which case time period or performance permitted by law shall be deemed to have been agreed which comes as close as possible to the stipulated time period or performance.</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD COLSPAN="2" STYLE="text-align: justify; vertical-align: top">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" ALIGN="CENTER" STYLE="text-align: center">

   <I><FONT size=2 face="Times New Roman">[Signature(s) page follows]</FONT></I></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">20|24</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">On behalf of Blitz F21-842 AG (in future: ABBA BidCo AG)</FONT></B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Robert Boyle
</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Robert Boyle
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Member of the Management Board&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></TD></TR>
</TABLE>
 <P style="TEXT-ALIGN: center"><I><FONT size=2 face="Times New Roman">[Signature page to the Business Combination Agreement]</FONT></I></P>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">21|24</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">On behalf of BorgWarner Inc.</FONT></B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Tonit M. Calaway

</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Tonit M. Calaway</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Executive Vice President, Chief<BR>
Administrative Officer, General Counsel,<BR>
and Secretary

</FONT></TD></TR>
</TABLE>

<P style="TEXT-ALIGN: center"><I><FONT size=2 face="Times New Roman">[Signature page to the Business Combination Agreement]</FONT></I></P>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">22|24</FONT></P>
<HR noshade align="center" width="100%" size=2>

<DIV STYLE="page-break-before: always"></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 100%">

<TR STYLE="vertical-align: bottom">
   <TD COLSPAN="2" STYLE="padding-right: 4pt; vertical-align: bottom; text-align: left"><b><FONT size=2 face="Times New Roman">On behalf of AKASOL AG </FONT></b></TD>

    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD COLSPAN="2"><b><FONT size=2 face="Times New Roman">On behalf of AKASOL AG</FONT></b></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 1%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 48%"><FONT size=2 face="Times New Roman">/s/ Sven Schulz </FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 4pt; width: 1%"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 48%"><FONT size=2 face="Times New Roman">/s/ Carsten Bovenschen

</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Sven Schulz

</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Carsten Bovenschen

</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: CEO
</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: CFO</FONT></TD></TR>
</TABLE>

<P style="TEXT-ALIGN: center"><I><FONT size=2 face="Times New Roman">[Signature page to the Business Combination Agreement]</FONT></I></P>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">23|24</FONT></P>

<HR noshade align="center" width="100%" size=2>



<!-- Part 06 -->
<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">BCA</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">On behalf of the Supervisory Board of AKASOL AG</FONT></B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Christoph Reimnitz

</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">London, February 15, 2021<BR>
Name: Christoph Reimnitz
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Chairman</FONT></TD></TR>
</TABLE>
<P style="TEXT-ALIGN: center"><I><FONT size=2 face="Times New Roman">[Signature page to the Business Combination Agreement]</FONT></I></P>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">24|24</FONT></P>
<HR align=center SIZE=2 width="100%" noShade><DIV STYLE="page-break-before: always"></DIV>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Times New Roman">Annex 1.2 - Agreed Form Offer Announcement</FONT></B></P>



<DIV>

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman">12.</FONT></B></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman">OFFER CONDITIONS</FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman">12.1</FONT></B></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman">Offer Conditions</FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P><FONT size=2 face="Times New Roman">The Offer and the contracts which come into existence as a result of its acceptance by the AKASOL Shareholders are subject to the following conditions (the &#8220;<STRONG>Offer Conditions</STRONG>&#8221;):</FONT></P>

   <P><FONT size=2 face="Times New Roman">[<STRONG>Note:</STRONG><EM> Set of regulatory conditions depends on the outcome of the currently ongoing regulatory analysis and may be amended as required.</EM>]</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P><FONT size=2 face="Times New Roman"></FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.1</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U>Merger control clearances</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U></U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">



   <P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">After publication of this Offer Document and at the latest by [</FONT><FONT size=2 face="Times New Roman">&#9679;</FONT><FONT size=2 face="Times New Roman">]<SUP>1 </SUP>2021, each of the Offer Conditions set out in Section 12.1.1 (a)-(d) of this Offer Document have been fulfilled:</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">the German Federal Cartel Office (<EM>Bundeskartellamt</EM>) has approved the Transaction or the Transaction is deemed to be approved or the FCO has confirmed that it is not competent to review the Transaction;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">the Austrian FCA and FCP have approved the Transaction or the Transaction is deemed to be approved or the FCA and the FCP have confirmed that they are not competent to review the Transaction;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">the Polish UOKiK has approved the Transaction or the Transaction is deemed to be approved or the UOKiK has confirmed that it is not competent to review the Transaction;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">In the event of a referral to the European Commission pursuant to Article 22 of the EU Merger Regulation (&#8220;EUMR&#8221;), the European Commission having approved the Transaction under the EUMR,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">and completion of the Transaction is no longer subject to a suspense obligation under applicable competition law.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.2</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U>[Foreign investment clearance Germany]</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and at the latest by [&#9679;]<SUP>2</SUP> 2021, the BMWi has</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">granted a Certificate of non-objection (<EM>Unbedenklichkeitsbescheinigung</EM>) in accordance with Section 58 para. 1 sentence 1 AWV or otherwise informed the Bidder that it will not initiate proceedings (<EM>Pr&#252;fverfahren</EM>) within the two months&#8217; time period specified in Section 14a para. 1 number 1 of the German Foreign Trade Act (<EM>Au&#223;enwirtschaftsgesetz</EM> &#8211; &#8220;<STRONG>AWG</STRONG>&#8221;); or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">not initiated such proceedings within such time period; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">informed the Bidder in writing, after initiating such proceedings, that the Transaction will not be prohibited or does not meet the requirements for a prohibition; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">not prohibited the Transaction, after initiating such proceedings, within the four months&#8217; time period specified in Section 14a para. 1 number 2 AWG, as possibly extended pursuant to Section 14a paras. 4, 5 and 6 AWG.</FONT></FONT></TD></TR></TABLE>
<DIV>____________________</DIV>
<BR>

<DIV>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>1</SUP></FONT></TD>

   <TD STYLE="vertical-align: top; width: 100%; text-align: justify">



   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note</FONT></B><B><I><FONT size=2 face="Times New Roman">: </FONT></I></B><I><FONT size=2 face="Times New Roman">Long stop date to be determined by BW/BidCo based on outcome of the currently ongoing regulatory analysis and discussion with BaFin.</FONT></I></P></TD></TR>

<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 100%; text-align: justify">

   </TD></TR>

<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>2</SUP></FONT></TD>

   <TD STYLE="vertical-align: top; width: 100%; text-align: justify">

   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note</FONT></B><B><I><FONT size=2 face="Times New Roman">: </FONT></I></B><I><FONT size=2 face="Times New Roman">Long stop date to be determined by BW/BidCo based on outcome of the currently ongoing regulatory analysis and discussion with BaFin.</FONT></I></P></TD></TR></TABLE><BR>

<HR align=center SIZE=2 width="100%" noShade>

</DIV>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<BR>


<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.3</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"><U>Minimum Acceptance Threshold</U></FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">



   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Upon expiry of the Acceptance Period, the total sum of the AKASOL Shares</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">for which the acceptance of the Offer has been effectively declared in accordance with Section 13.2 of this Offer Document and for which no withdrawal of the agreement entered into as a result of the acceptance of the Offer has been effectively declared,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">held directly by the Bidder or a person acting jointly with the Bidder pursuant to Section 2 para. 5 Wp&#220;G,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">attributable to the Bidder or any Bidder Parent Company in application of Section 30 Wp&#220;G; and</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">for which the Bidder or persons acting jointly with the Bidder pursuant to Section 2 para. 5 Wp&#220;G have concluded a conditional or unconditional agreement with any AKASOL Shareholder outside of the Offer which entitles them to the transfer of title to these AKASOL Shares,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman">is equivalent to at least 50% of the number of AKASOL Shares outstanding at the end of the Acceptance Period plus one (1) AKASOL Share, i.e. at the time of publication of the Offer Document, at least [6,061,856]<SUP>3</SUP> AKASOL Shares. AKASOL Shares which are subject to several of the preceding paragraphs (a) to (d) will be taken into account only once.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.4</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U>No issuance of instruments to receive AKASOL Shares</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, the Bidder has not received a letter from the management board of AKASOL AG nor has AKASOL AG made a public announcement stating that AKASOL has issued, or guaranteed, subscription rights, options, (convertible) bonds or other financial instruments granting a right to receive AKASOL Shares.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left><FONT  size=2 face="Times New Roman">12.1.5</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><U>No adverse shareholders&#8217; meeting resolution</U></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><U></U></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left><FONT  size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, the general meeting of AKASOL has not adopted a resolution approving</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><U></U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a capital increase; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a change of the rights or nature of shares; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a distribution of a cash or non-cash dividend; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a measure pursuant to the German Transformation Act (<EM>Umwandlungsgesetz</EM>); or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top noWrap align=left></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman">(e)</FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">the conclusion of any upstream intercompany agreement within the meaning of Sections 291, 292 AktG (but excluding any such intercompany agreement with a subsidiary of AKASOL); or</FONT></FONT></TD></TR>

<TR>

   <TD vAlign=top noWrap align=left>&nbsp;</TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman">(f)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">to dissolve AKASOL.</FONT></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left><FONT  size=2 face="Times New Roman">12.1.6</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><U><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">No insolvency of AKASOL</FONT></FONT> <FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"></FONT></FONT></U></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, AKASOL has not published any notification pursuant to Article 17 of Regulation (EU) No 596/2014 (&#8220;<STRONG>Market Abuse Regulation</STRONG>&#8221;) according to which</FONT></FONT></TD></TR></TABLE>

<DIV>____________________</DIV>
<BR>

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<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>3</SUP></FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top; width: 100%">



   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note: </FONT></B><I><FONT size=2 face="Times New Roman">Number of issued shares TBD on date of publication of offer document.</FONT></I></P></TD></TR>


</TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">2|6</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<BR>


<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">a loss equaling half of the share capital within the meaning of Section 92 para. 1 AktG has been suffered; or</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">an insolvency proceeding has been instituted against the assets of AKASOL or the management board of AKASOL AG has applied for the institution of such proceeding; or</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">a reason has arisen that would necessitate the filing of an application for the institution of an insolvency proceeding.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"><FONT size=2 face="Times New Roman">12.1.7</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"><U>No market material adverse change</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, neither of the following events has occurred:</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a trading suspension specifically related to the ABBA Shares of more than five consecutive trading days at the Frankfurt Stock Exchange (excluding any general suspension of trading); or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">the closing quote of SDAX (ISIN DE0009653386) in the XETRA trading system of Deutsche B&#246;rse AG, as determined by Deutsche B&#246;rse AG, or a successor thereof, and published on its website (www.deutsche-boerse.com), on more than three consecutive trading days is more than 30% below the closing quote of SDAX as at the last trading day preceding the day of the publication of the decision to launch the Offer pursuant to Section 10 para. 1 sentence 1 Wp&#220;G, i.e., below a SDAX threshold level of [&#9679;]<SUP>4</SUP> points.</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"><FONT  size=2 face="Times New Roman">12.1.8</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><U><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">No target material adverse change</FONT></FONT></U></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT  size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, none of the following events shall have occurred:</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">AKASOL has notified or should have notified the Bidder that AKASOL&#8217;s cumulative order value of framework agreements and call-off agreements agreed with customers (&#8220;<STRONG>Order Backlog</STRONG>&#8221;), determined using the same methodology used to determine the Order Backlog disclosed on page 3 of AKASOL&#8217;s Half Year Financial Report 2020, has fallen below EUR 1.75 billion;</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">(b)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">AKASOL has published any notification pursuant to Article 17 of the Market Abuse Regulation; or</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">circumstances have occurred that would have had to be published by AKASOL pursuant to article 17 para. 1 of the Market Abuse Regulation or where AKASOL decided to delay the publication pursuant to article 17 para. 4 of the Market Abuse Regulation,</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">following in the case of each of clauses (b) and (c) the occurrence of any circumstance (isolated incident) which has had or could reasonably be expected to have a negative impact on AKASOL's unadjusted EBITDA for the financial year 2021 in the amount of at least EUR 15 million (together with the occurrence described in clause (a), each a &#8220;<STRONG>Target Material Ad hoc Obligatory Adverse Change</STRONG>&#8221;). AKASOL&#8217;s unadjusted EBITDA shall be determined in accordance with the same principles as applied in AKASOL&#8217;s [2019] [<STRONG>Note:</STRONG> <EM>If by publication of the offer document the financial accounts 2020 have been published, 2019 should be replaced by 2020</EM>] financial statements.</FONT></FONT></P>

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">Whether during the Acceptance Period a Target Material Ad hoc Obligatory Adverse Change has occurred shall be determined exclusively by an expert opinion of [&#9679; &#8211; <STRONG>Note:</STRONG> <i>Auditor TBD </i></FONT></FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>by BW/BidCo following signing of BCA</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">] as independent expert (&#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Independent Expert</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8220;) applying careful commercial consideration and as set out in Section 12.2.</FONT></P></TD></TR></TABLE>

<DIV>____________________</DIV>
<BR>

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<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>4</SUP></FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top; width: 100%">



   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note: </FONT></B><I><FONT size=2 face="Times New Roman">Threshold TBD following section 10 announcement.</FONT></I></P></TD></TR>


</TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">3|6</FONT></P>

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<!-- Part 07 -->
<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
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     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If (i) the Independent Expert confirms that a Target Material Ad hoc Obligatory Adverse Change has occurred during the Acceptance Period, (ii) the expert opinion of the Independent Expert has been received by the Bidder prior to the expiry of the Acceptance Period, and (iii) the Bidder at the latest until the date of the publication pursuant to Section 23 para. 1 sentence 1 number 2 Wp&#220;G has published the receipt and result of the expert opinion of the Independent Expert, the Offer Condition as set out in this Section 12.1.8 shall be deemed not fulfilled. In all other cases, the Offer Condition as set out in this Section 12.1.8 shall be deemed fulfilled.</FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
     <TD STYLE="vertical-align: top; width: 1%"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
     <TD STYLE="vertical-align: top; width: 98%"></TD></TR>
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     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">12.1.9</FONT></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U>No Material Compliance Violation</U></FONT></DIV></TD></TR>
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     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U></U></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, no criminal offence or administrative offence (</FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>Ordnungswidrigkeiten</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">), be it an offense under German criminal or administrative law or other applicable laws, in particular bribery offenses and corruption, embezzlement, anti-trust violations or money laundering, by a member of the governing body or an officer of AKASOL or a subsidiary of AKASOL while any of these persons was operating in their official capacity at AKASOL or a subsidiary of AKASOL, is known to have occurred, provided that any such infringement or criminal or administrative offense (i) constitutes inside information for AKASOL pursuant to Article 7 of the Market Abuse Regulation or (ii) has constituted inside information prior to its publication (&#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Material Compliance Violation</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8221;).</FONT></DIV></TD></TR>
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     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Whether during the Acceptance Period a Material Compliance Violation has occurred shall be determined exclusively by the Independent Expert as set out in Section 12.2.</FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If (i) the Independent Expert confirms that a Material Compliance Violation has occurred during the Acceptance Period, (ii) the expert opinion of the Independent Expert has been received by the Bidder prior to the expiry of the Acceptance Period, and (iii) the Bidder at the latest until the date of the publication pursuant to Section 23 para. 1 sentence 1 number 2 Wp&#220;G has published the receipt and result of the expert opinion of the Independent Expert, the Closing Condition as set out in this Section 12.1.9 shall be deemed not fulfilled. In all other cases, the Closing Condition as set out in this Section 12.1.9 shall be deemed fulfilled.</FONT></DIV></TD></TR>
<TR>
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     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">12.1.10 </FONT></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U>Breach of Certain Covenants</U></FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U></U></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Prior to expiry of the Acceptance Period neither of the following events has occurred (either, a &#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Breach of Certain Covenants</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8221;): </FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">(a)</FONT></DIV></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Sven Schulz and Sven Schulz Group GmbH shall have failed to transfer and assign all intellectual property rights relating to the business of the AKASOL Group (including but not limited to patents, trademarks as well as copyrights) and applications for registration of intellectual property rights that are owned or held by Sven Schulz or Sven Schulz Group GmbH rather than by the AKASOL Group to AKASOL with effect from the Offer Completion.</FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD>
     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV></DIV></TD></TR>
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     <TD STYLE="vertical-align: top"></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">(b)</FONT></DIV></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Any member of the AKASOL Group shall have, without the approval of BorgWarner whose consent shall be deemed granted unless BorgWarner objects to a respective request by AKASOL addressed to Demetri Samohin by email at </FONT><FONT style="font-size: 10pt" face="Times New Roman">dsamohin@borgwarner.com</FONT><FONT style="font-size: 10pt" face="Times New Roman">, with a copy to Tonit Calaway by email at tcalaway@borgwarner.com, within five (5) Business Days from receipt of such request, incurred, assumed or guaranteed any indebtedness for borrowed money, except for (i) borrowings under credit or loan agreements existing and not yet drawn at the Effective Date, which shall not exceed EUR 25 million in the aggregate for the&nbsp;AKASOL Group, (ii) guarantees and factorings not to exceed EUR 10 million in the aggregate for the AKASOL Group, and (iii) indebtedness among AKASOL and any other member of the AKASOL Group.</FONT></DIV></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">4|6</FONT></P>
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<TR>
   <TD vAlign=top width="1%">
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></DIV></DIV></TD>
   <TD vAlign=top width="99%">
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U></U></FONT></DIV>
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Whether during the Acceptance Period a Breach of Certain Covenants has occurred shall be determined exclusively by the Independent Expert as set out in Section 12.2.</FONT></DIV></DIV></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If (i) the Independent Expert confirms that a Breach of Certain Covenants has occurred during the Acceptance Period, (ii) the expert opinion of the Independent Expert has been received by the Bidder prior to the expiry of the Acceptance Period, and (iii) the Bidder at the latest until the date of the publication pursuant to Section 23 para. 1 sentence 1 number 2 Wp&#220;G has published the receipt and result of the expert opinion of the Independent Expert, the Offer Condition as set out in this Section 12.1.10 shall be deemed not fulfilled. In all other cases, the Offer Condition as set out in this Section 12.1.10 shall be deemed fulfilled.</FONT></DIV></DIV></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>12.2</B></FONT></DIV></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>Independent Expert</B></FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 10pt" face="Times New Roman">12.2.1 </FONT></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">The Independent Expert shall only act upon request by the Bidder. The Bidder shall publish, without undue delay (</FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>unverz&#252;glich</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">) and with reference to this Offer, the commencement of the procedure to determine whether a Target Material Ad hoc Obligatory Adverse Change, a Material Compliance Violation and/or a Breach of Certain Covenants has occurred during the Acceptance Period in the German Federal Gazette and on the internet at http://www.abba-offer.com. In case the Bidder receives an expert opinion of the Independent Expert prior to the expiry of the Acceptance Period which states that during the Acceptance Period a Target Material Ad hoc Obligatory Adverse Change, a Material Compliance Violation and/or a Breach of Certain Covenants has occurred, the Bidder is obliged to publish the fact that it has received such expert opinion and the result of such expert opinion, without undue delay, and in any case on or prior to the date of the publication pursuant to Section 23 para 1 sentence 1 no. 2 Wp&#220;G, and with reference to this Offer, in the German Federal Gazette and on the internet at http://www.abba-offer.com. The expert opinion of the Independent Expert shall be binding and final upon the Bidder and the accepting AKASOL Shareholders. The costs and disbursements of the Independent Expert shall be borne by the Bidder.</FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp; </TD></TR>
<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 10pt" face="Times New Roman"><B>12.3 </B></FONT></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>Nonfulfillment of the Offer Conditions; Waiver of Offer Conditions</B></FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">The Offer Conditions set out in Sections 12.1.1 through 12.1.10 of this Offer Document shall each constitute independent and separable conditions. The Bidder may waive all or individual Offer Conditions in advance &#8211; to the extent permissible &#8211; pursuant to Section 21 para. 1 sentence 1 no. 4 Wp&#220;G as long as such Offer Conditions have not ultimately lapsed.</FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">A waiver is equivalent to the fulfilment of the relevant Offer Condition. If the Bidder waives any of the Offer Conditions within the last two weeks prior to expiry of the Acceptance Period, the Acceptance Period will be extended by two weeks (Section 21 para. 5 Wp&#220;G), </FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>i.e., </I></FONT><FONT style="font-size: 10pt" face="Times New Roman">until [</FONT><FONT style="font-size: 10pt" face="Times New Roman">&#9679;</FONT><FONT style="font-size: 10pt" face="Times New Roman">] 2021, 24:00 hrs (local time Frankfurt am Main) / 18:00 hrs (local time New York).</FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If the Offer Conditions set forth in Section 12.1 of this Offer Document either have not been satisfied on or prior to the applicable date or have definitively lapsed before these dates and the Bidder has not effectively waived them in advance, the Offer shall lapse. In this case, the contracts which come into existence as a result of accepting the Offer will cease to exist and will not be consummated (conditions subsequent); and delivered AKASOL Shares will be returned. The Settlement Agent (as defined in Section 13.1 of this Offer Document) will promptly, at the latest within four Banking Days after announcement of the expiry of the Offer, order the rebooking of the Tendered AKASOL Shares (ISIN [</FONT><FONT style="font-size: 10pt" face="Times New Roman">&#9679;</FONT><FONT style="font-size: 10pt" face="Times New Roman">]) to ISIN DE000A2JNWZ9 by the Custodian Banks (as defined in Section 13.2 of this Offer Document) through Clearstream Banking AG, Frankfurt am Main, Germany (&#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Clearstream</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8221;). The rebooking is generally free
    of costs and expenses of the Custodian Banks for the AKASOL Shareholders who hold their AKASOL Shares in a securities deposit account in the Federal Republic of Germany. Any foreign taxes or costs and fees of foreign Custodian Banks that do not have securities deposit account connections with Clearstream must, however, be paid by the respective AKASOL Shareholders.</FONT></DIV></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">5|6</FONT></P>
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<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 10pt" face="Times New Roman"><B>12.4 </B></FONT></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>Publications concerning Offer Conditions</B></FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 12pt" face="Times New Roman"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">The Bidder will promptly announce on the internet at http://www.abba-offer.com (in German and in an English translation) and in the Federal Gazette (</FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>Bundesanzeiger</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">) if (i) an Offer Condition has been effectively waived in advance, (ii) an Offer Condition has been fulfilled, (iii) all Offer Conditions have either been fulfilled or have been effectively waived in advance or (iv) the Offer is not consummated because an Offer Condition has finally not been fulfilled or lapsed. Likewise, the Bidder will promptly announce at the end of the Acceptance Period, as part of the publication according to Section 23 para. 1 no. 2 Wp&#220;G, which of the Offer Conditions of Section 12.1 of this Offer Document have been fulfilled by such time.</FONT></DIV></TD></TR></TABLE>

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<P style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>Annex 1.5 - Agreed Form Press Release BorgWarner</B></FONT></P>


<P style="TEXT-ALIGN: justify"><FONT size=6 face="Times New Roman" color=#7F7F7F>News Release</FONT></P>
<P align=right>
<IMG border=0 src="borg3872521-ex217x5x1.jpg"> </P>
<P style="TEXT-ALIGN: center"><FONT style="font-size: 18pt" face="Times New Roman"><B>BorgWarner Agrees to Acquire AKASOL AG, Seeking to<BR>Expand Electrification Portfolio</B></FONT></P>
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<TR>
   <TD style="PADDING-LEFT: 15pt; PADDING-RIGHT: 8pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
   <TD vAlign=top width="99%">
   <P style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><I>Acquisition Would Significantly Strengthen Commercial Vehicle Electrification Capabilities to Meet Industrywide Demand</I></FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt"></FONT></TD>
   <TD vAlign=top width="99%">
   <P style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><I></I></FONT>&nbsp;</P></TD></TR>
<TR>
   <TD style="PADDING-LEFT: 15pt; PADDING-RIGHT: 8pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
   <TD vAlign=top width="99%">
   <P style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><I>Cash Offer of &#8364;120.00 per Share Represents Approximately 23% Premium to AKASOL&#8217;s Three-Month Volume-Weighted Average Share Price; Values 100% of AKASOL&#8217;s Equity at Approximately &#8364;727 Million</I></FONT><FONT style="font-size: 10pt" face="Times New Roman"><I><SUP>1</SUP></I></FONT></P></TD></TR>
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   <TD vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt"></FONT></TD>
   <TD vAlign=top width="99%">
   <P style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><I></I></FONT>&nbsp;</P></TD></TR>
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   <TD style="PADDING-LEFT: 15pt; PADDING-RIGHT: 8pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
   <TD vAlign=top width="99%">
   <P style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><I>Offer Fully Supported by AKASOL Executive Board and Supervisory Board</I></FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt"></FONT></TD>
   <TD vAlign=top width="99%">
   <P style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><I></I></FONT>&nbsp;</P></TD></TR>
<TR>
   <TD style="PADDING-LEFT: 15pt; PADDING-RIGHT: 8pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT></TD>
   <TD vAlign=top width="99%">
   <P style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><I>Sven Schulz, AKASOL&#8217;s Largest Shareholder, CEO and Founder, as well as Certain Other Shareholders, Have Entered into Irrevocable Undertakings to Tender Approximately 59% of AKASOL&#8217;s Shares Outstanding</I></FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><I>AUBURN HILLS, Mich. and DARMSTADT, Germany, February 14, 2021 (February 15, 2021 CET) </I></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8211; BorgWarner Inc. (NYSE: BWA) and AKASOL AG (ETR: ASL) today announced that they have signed a Business Combination Agreement (&#8220;BCA&#8221;) to position BorgWarner to significantly expand its commercial vehicle electrification capabilities. As part of the agreement, a wholly-owned subsidiary of BorgWarner will launch a voluntary public takeover offer at &#8364;120.00 per share in cash for all outstanding shares of AKASOL (&#8220;the Offer&#8221;). Holders of approximately 59% of AKASOL&#8217;s outstanding shares have committed through Irrevocable Undertakings to accept the Offer with respect to their shares. The Offer represents a premium of approximately 23% to AKASOL&#8217;s three-month volume-weighted average share price prior to announcement and values AKASOL at a total enterprise value of approximately &#8364;754 million<SUP>2</SUP>, which includes the assumption of &#8364;27 million of net debt.</FONT></P>
<DIV style="TEXT-ALIGN: justify; TEXT-INDENT: 15pt"><FONT style="font-size: 10pt" face="Times New Roman">Headquartered in
Darmstadt, Germany, AKASOL designs and manufactures customizable battery packs for use in buses, commercial vehicles, rail
vehicles and industrial vehicles, as well as in ships and boats. AKASOL&#8217;s proprietary system technology is
cell-agnostic, providing a low-cost, flexible solution to world-class customers. With more than 300 full-time employees and
three facilities across Germany and one facility in the United States, AKASOL believes it is well positioned to capitalize on
the large market opportunity across Europe and North America.</FONT></DIV>
<DIV>____________________</DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><SUP>1 </SUP>Based on basic shares outstanding.<BR></FONT><FONT style="font-size: 10pt" face="Times New Roman"><SUP>2 </SUP>Reflecting latest reported AKASOL balance sheet items as of 30 September 2020.</FONT></DIV><BR>
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<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">&#147;AKASOL is an excellent strategic fit as BorgWarner seeks to continue to expand its electrification portfolio and capitalize on the profound industry shift towards electrification. AKASOL&#146;s manufacturing footprint and established, in-production customer base are complementary to BorgWarner&#146;s and would accelerate our foothold into the fast-growing commercial vehicle and off-highway battery pack market,&#148; said Fr&eacute;d&eacute;ric Lissalde, President and CEO of BorgWarner. &#147;AKASOL is highly-regarded as a reputable and reliable partner, and like us, they have a customer-first mentality and a culture of innovation and environmentally friendly technology leadership. We look forward to welcoming their incredibly talented team to BorgWarner.&#148;</FONT></P>

<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">BorgWarner believes the acquisition would significantly strengthen its commercial vehicle and off-highway battery systems business as it continues to execute its electrification strategy. With the global, lithium-ion battery market for electric vehicles expected to grow, AKASOL believes it is well positioned to meet the demand for battery systems in the global electric commercial vehicle market.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify">
<FONT size=2 face="Times New Roman">&#147;The Executive Board welcomes the strategic partnership with BorgWarner, as it offers significant strategic perspectives to AKASOL,&#148; said Sven Schulz, CEO and Founder of AKASOL. &#147;BorgWarner shares our vision of emission-free mobility, and with joint forces, we will expand AKASOL&#146;s technology and market leadership for high-performance battery systems.&#148;</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Transaction Terms</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: justify">
<FONT size=2 face="Times New Roman">As part of the agreement, a wholly-owned subsidiary of BorgWarner will launch a voluntary public takeover offer at &#128;120.00 per share in cash for all outstanding shares of AKASOL. Both the Executive Board and Supervisory Board of AKASOL fully support the Offer.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify">
<FONT size=2 face="Times New Roman">BorgWarner has already secured commitments from the holders of approximately 59% of all outstanding shares of AKASOL via irrevocable undertakings, including from an entity controlled by Schulz.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify">
<FONT size=2 face="Times New Roman">AKASOL is expected to continue to be run independently from its Darmstadt headquarters, and BorgWarner intends to be represented on the Supervisory Board in a manner which appropriately reflects its shareholding. It is currently expected that CEO Schulz, CFO Carsten Bovenschen and CTO Stephen Raiser will continue their roles after completion of the transaction.</FONT></P>

<P STYLE="text-align: right">
<U><FONT size=2 face="Times New Roman">borgwarner.com</FONT></U></P>
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<P STYLE="text-indent: 15pt; text-align: justify">
<FONT size=2 face="Times New Roman">The Offer, which has been unanimously approved by the BorgWarner Board of Directors and the AKASOL Supervisory Board, is expected to be completed late in the second quarter of 2021, subject to the satisfaction of applicable regulatory approvals, as well as other closing conditions. The acceptance period under the Offer is expected to commence by the end of March. The Offer will contain a minimum acceptance threshold of 50% of the AKASOL shares issued plus one share that will be achieved upon the tendering of shares by the shareholders that have irrevocably committed. BorgWarner does not currently intend to enter into a domination agreement and / or profit and loss transfer agreement with AKASOL.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify">
<FONT size=2 face="Times New Roman">BorgWarner currently anticipates that the transaction will be funded primarily with existing cash balances and potentially some incremental debt. For the purpose of satisfying German &#147;Cash Confirmation&#148; requirements, BorgWarner intends to secure a &#36;900 million, 364-day undrawn credit facility.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Advisors</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: justify">
<FONT size=2 face="Times New Roman">BofA Securities, Inc is acting as financial advisor, and Foley &amp; Lardner LLP and Freshfields Bruckhaus Deringer are providing legal advice to BorgWarner. Berenberg is acting as financial advisor and Hogan Lovells is acting as legal advisor to AKASOL.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Transaction Presentation</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: justify">
<FONT size=2 face="Times New Roman">A supplemental presentation regarding the transaction is available on the investor relations section of BorgWarner&#146;s website at https://www.borgwarner.com/investors.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">About BorgWarner</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: justify">
<FONT size=2 face="Times New Roman">BorgWarner Inc. (NYSE: BWA) is a global product leader in clean and efficient technology solutions for combustion, hybrid and electric vehicles. Building on its original equipment expertise, BorgWarner also brings market leading product and service solutions to the global aftermarket. With manufacturing and technical facilities in 96 locations in 24 countries, the company has approximately 50,000 employees worldwide. For more information, please visit borgwarner.com.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">About AKASOL</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: justify">
<FONT size=2 face="Times New Roman">AKASOL is a leading German developer and manufacturer of high-energy and high-performance lithium-ion battery systems for use in buses, commercial vehicles, rail vehicles and industrial vehicles, as well as in ships and boats. With 30 years of experience, AKASOL is a pioneer in the development and manufacture of lithium-ion battery systems for commercial applications. Shares of AKASOL AG stock have been traded on the Prime Standard segment of the Frankfurt Stock Exchange since June 29, 2018.</FONT></P>
<P STYLE="text-align: right">
<U><FONT size=2 face="Times New Roman">borgwarner.com</FONT></U></P>
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<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Forward-Looking Statements</FONT></B></P>
<P STYLE="text-align: justify">
<FONT size=2 face="Times New Roman">This press release may contain forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act that are based on management&#146;s current outlook, expectations, estimates and projections. Words such as &#147;anticipates,&#148; &#147;believes,&#148; &#147;continues,&#148; &#147;could,&#148; &#147;designed,&#148; &#147;effect,&#148; &#147;estimates,&#148; &#147;evaluates,&#148; &#147;expects,&#148; &#147;forecasts,&#148; &#147;goal,&#148; &#147;guidance,&#148; &#147;initiative,&#148; &#147;intends,&#148; &#147;may,&#148; &#147;outlook,&#148; &#147;plans,&#148; &#147;potential,&#148; &#147;predicts,&#148; &#147;project,&#148; &#147;pursue,&#148; &#147;seek,&#148; &#147;should,&#148; &#147;target,&#148; &#147;when,&#148; &#147;will,&#148; &#147;would,&#148; and variations of such words and similar expressions are intended to identify such forward-looking statements. Further, all statements, other than statements of historical fact contained or incorporated by reference in this press release that we expect or anticipate will or may occur in the future regarding our financial position, business strategy and measures to implement that strategy, including changes to operations, competitive strengths, goals, expansion and growth of our business and operations, plans, references to future success and other such matters, are forward-looking statements. Accounting estimates, such as those described under the heading &#147;Critical Accounting Policies and Estimates&#148; in Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2019 (&#147;Form 10-K&#148;), are inherently forward-looking. All forward-looking statements are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. Forward-looking statements are not guarantees of performance, and the Company&#146;s actual results may differ materially from those expressed, projected or implied in or by the forward-looking statements.</FONT></P>
<P STYLE="text-align: justify">
<FONT size=2 face="Times New Roman">You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Forward-looking statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed, projected or implied in or by the forward-looking statements. These risks and uncertainties, among others, include: uncertainties regarding the extent and duration of impacts of matters associated with COVID-19, including additional production disruptions; the possibility that the proposed transaction will not be consummated; failure to obtain necessary regulatory approvals or to satisfy any of the other conditions to the proposed transaction; adverse effects on the market price of BorgWarner&#146;s shares of common stock and BorgWarner&#146;s operating results because of a failure to complete the proposed transaction; failure to realize the expected benefits of the proposed transaction; negative effects relating to the announcement of the proposed transaction or any further announcements relating to the proposed transaction or the consummation of the proposed transaction on the market price of BorgWarner&#146;s shares of common stock; the failure to realize the expected benefits of the acquisition of Delphi Technologies PLC that the Company completed on October 1, 2020; the failure to promptly and effectively integrate acquired businesses; the potential for unknown or inestimable liabilities relating to the acquired businesses; our dependence on automotive and truck production, both of which are highly cyclical; our reliance on major OEM customers; commodities availability and pricing; supply disruptions; fluctuations in interest rates and foreign currency exchange rates; availability of credit; the uncertainty of the global economic environment; and the other risks noted in reports that we file with the Securities and Exchange Commission, including Item 1A, &#147;Risk Factors&#148; in our most recently-filed Form 10-K and in our most recently-filed Form 10-Q. We do not undertake any obligation to update or announce publicly any updates to or revisions to any of the forward-looking statements in this press release to reflect any change in our expectations or any change in events, conditions, circumstances, or assumptions underlying the statements.</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Additional Information About the Offer</FONT></B></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">Additional information regarding the Offer may be found at: http://www.abba-offer.com.</FONT></P>
<P STYLE="text-align: right">
<U><FONT size=2 face="Times New Roman">borgwarner.com</FONT></U></P>
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<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Contacts</FONT></B></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">For BorgWarner:</FONT></B></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">IR</FONT></B><BR>

<FONT size=2 face="Times New Roman">Patrick Nolan</FONT><BR>
<FONT size=2 face="Times New Roman">Phone: +1 248-754-0884 <BR>
Email: ir@borgwarner.com</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">PR</FONT></B><BR>
<FONT size=2 face="Times New Roman">Michelle Collins</FONT><BR>
<FONT size=2 face="Times New Roman">Phone: +1 248-754-0449</FONT><BR>
<FONT size=2 face="Times New Roman">Email: mediacontact@borgwarner.com</FONT></P>
<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">For AKASOL:</FONT></B></P>
<P style="text-align: left;">
<FONT size=2 face="Times New Roman">AKASOL AG, Isabel Heinen <BR>
Phone: +49 (0) 6103 48567-26 <BR>
Email: isabel.heinen@akasol.com</FONT></P>
<P STYLE="text-align: right">
<U><FONT size=2 face="Times New Roman">borgwarner.com</FONT></U></P>



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<P style="text-align: left;">
<B><FONT size=2 face="Times New Roman">Annex 2.1(a) - Agreed Form Ad Hoc Announcement</FONT></B></P>


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   <TD width="50%" noWrap align=left><B><FONT size=4 face="Times New Roman" color=#7F7F7F>AD-HOC ANNOUNCEMENT</FONT></B></TD>

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<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Disclosure of insider information pursuant to Article 17 of Regulation (EU) No 596/2014</FONT></B></P>

<P style="TEXT-ALIGN: justify"><B><FONT size=4 face="Times New Roman">AKASOL and BorgWarner have signed a Business Combination Agreement to enter into a strategic partnership and BorgWarner will launch a voluntary public takeover offer</FONT></B></P>

<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Darmstadt, 15 February 2021 &#8211; AKASOL AG (ISIN: DE000A2JNWZ9, &#8222;AKASOL&#8220;), as well as BorgWarner Inc., and Blitz F21-842 AG (in future: ABBA BidCo AG), a subsidiary of BorgWarner Inc. (together &#8222;BorgWarner&#8220; or &#8222;Investor&#8220;), today have signed a Business Combination Agreement to enter into a strategic partnership.</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Following signing of the Business Combination Agreement, Blitz F21-842 AG (in future: ABBA BidCo AG) today published the decision to make a voluntary public takeover offer to all shareholders of AKASOL for the acquisition of all outstanding no-par value bearer shares in AKASOL against payment of a cash consideration of EUR 120.00 per AKASOL share. The offer price represents a premium of 23.4 percent on the volume-weighted three-month average share price prior to the announcement as of 12 February 2021. It also represents an EV/sales multiple of approx. 6x based on research analysts&#8216; consensus of approx. EUR 125m in 2021E sales as well as an EV/sales multiple of approx. 1.8x based on AKASOL&#8216;s 2024E mid-term sales target in excess of EUR 400m. Sven Schulz (via Schulz Group GmbH) and the other founders of AKASOL, representing 59.4 percent of shares in AKASOL, have signed irrevocable undertakings to tender their shares. The Executive Board and the Supervisory Board of AKASOL welcome the announced voluntary public takeover offer and will support it, subject to the review of the offer document still to be published by the bidder. The offer will be subject to a minimum acceptance threshold of 50 percent plus one share and further customary conditions, including regulatory clearances.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The strategic partnership gives AKASOL the opportunity to lever BorgWarner&#8217;s global business platform, thus facilitating its growth strategy within the e-mobility field. With the Business Combination Agreement, AKASOL and BorgWarner agreed on important cornerstones of the partnership that secure the interests of customers and employees of AKASOL.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">&lt; End of Ad-hoc announcement &gt;</FONT></P>

<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Contact Investor Relations:<BR></FONT></B><FONT size=2 face="Times New Roman">AKASOL AG <BR>Isabel Heinen<BR></FONT><FONT size=2 face="Times New Roman">Telephone: +49 (0) 6151 800 500-193 <BR>E-Mail: isabel.heinen@akasol.com</FONT></P>

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<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Ver&#246;ffentlichung von Insiderinformationen nach Artikel 17 der Verordnung (EU) Nr. 596/2014</FONT></B></P>

<P style="TEXT-ALIGN: justify"><B><FONT size=4 face="Times New Roman">AKASOL und BorgWarner schlie&#223;en Business Combination Agreement ab und </FONT></B><B><FONT size=4 face="Times New Roman">gehen strategische Partnerschaft ein</FONT></B><B><FONT size=4 face="Times New Roman">; BorgWarner k&#252;ndigt freiwilliges &#246;ffentliches &#220;bernahmeangebot an</FONT></B></P>

<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Darmstadt, 15. Februar 2021 &#8211; Die AKASOL AG (ISIN: DE000A2JNWZ9, &#8222;AKASOL&#8220;) sowie BorgWarner Inc., und die Blitz F21-842 AG (k&#252;nftig: ABBA BidCo AG), eine Tochtergesellschaft der BorgWarner Inc. (gemeinsam &#8222;BorgWarner&#8220; oder &#8222;Investor&#8220;), haben heute ein Business Combination Agreement unterzeichnet, um eine strategische Partnerschaft einzugehen.</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Nach Unterzeichnung des Business Combination Agreement hat die Blitz F21-842 AG (k&#252;nftig: ABBA BidCo AG) heute die Entscheidung ver&#246;ffentlicht, s&#228;mtlichen Aktion&#228;ren der AKASOL im Wege eines freiwilligen &#246;ffentlichen &#220;bernahmeangebots anzubieten, s&#228;mtliche ausstehenden auf den Inhaber lautenden St&#252;ckaktien der AKASOL gegen Zahlung einer Geldleistung in H&#246;he von 120,00 EUR je AKASOL-Aktie zu erwerben. Der Angebotspreis entspricht einer Pr&#228;mie von 23,4 Prozent auf den volumengewichteten Durchschnittskurs der letzten drei Monate bezogen auf den 12. Februar 2021. Er stellt zudem ein EV/Umsatzmultiplikator von ca. 6x auf den von Research Analysten prognostizierten 2021er Umsatz von ca. 125 Mio. EUR (Analystenkonsensus) sowie ein EV/Umsatzmultiplikator von ca. 1,8x Umsatz auf das 2024er Mittelfristziel von mind. 400 Mio. EUR dar. Sven Schulz (&#252;ber die Schulz Group GmbH) sowie die weiteren Gr&#252;nder von AKASOL, die gemeinsam &#252;ber einen Aktienanteil von rund 59,4 Prozent verf&#252;gen, haben bereits unwiderrufliche Andienungsvereinbarungen unterzeichnet. Der Vorstand und der Aufsichtsrat der AKASOL hei&#223;en das angek&#252;ndigte freiwillige &#246;ffentliche &#220;bernahmeangebot, vorbehaltlich der Pr&#252;fung der von der Bieterin noch zu ver&#246;ffentlichenden Angebotsunterlage, willkommen und unterst&#252;tzen es. Die Durchf&#252;hrung setzt eine Mindestannahmequote von 50 Prozent plus einer Aktie sowie den Erhalt weiterer &#252;blicher Vollzugsbedingungen voraus, darunter regulatorische Freigaben.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Die strategische Partnerschaft bietet AKASOL die M&#246;glichkeit, unter Nutzung der globalen Plattform von BorgWarner, die Wachstumsstrategie im Elektromobilit&#228;tsumfeld umzusetzen. Dar&#252;ber hinaus haben AKASOL und BorgWarner in dem Business Combination Agreement wichtige Eckpunkte der Partnerschaft vereinbart, die die Interessen der Kunden und Mitarbeiter von AKASOL sichern.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">&lt; Ende der Ad-hoc-Mitteilung &gt;</FONT></P>

<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Kontakt Investor Relations:</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">AKASOL AG</FONT></P>

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<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Isabel Heinen<BR></FONT><FONT size=2 face="Times New Roman">Telefon: +49 (0) 6151 800 500-193 <BR>E-Mail: isabel.heinen@akasol.com</FONT></P>

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<P style="TEXT-ALIGN: justify"><B><FONT size=4 face="Times New Roman">AKASOL and BorgWarner have signed a Business Combination Agreement to enter into a strategic partnership and BorgWarner will launch a voluntary public takeover offer</FONT></B></P>

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   <P align=justify><B><FONT size=2 face="Times New Roman">Following signing of the Business Combination Agreement, BorgWarner today published the decision to make a voluntary public tender Offer for all outstanding AKASOL shares at a price of EUR 120.00 in cash per share</FONT></B></P></TD></TR>

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   <TD style="PADDING-LEFT: 15pt; PADDING-RIGHT: 8pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT> </TD>

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   <P align=justify><B><FONT size=2 face="Times New Roman">Executive Board and Supervisory Board welcome strategic partnership with BorgWarner and voluntary public tender Offer</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-LEFT: 15pt; PADDING-RIGHT: 8pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT> </TD>

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   <P align=justify><B><FONT size=2 face="Times New Roman">AKASOL to benefit from new strategic partner supporting long-term growth and corporate strategy</FONT></B></P></TD></TR>

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   <P align=justify><B><FONT size=2 face="Times New Roman">Shareholders to benefit from premium of 23.4 percent on the volume-weighted three-month average share price as well as a premium of 44.2 percent on the volume-weighted six-month average share price prior to the announcement</FONT></B></P></TD></TR>

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   <TD style="PADDING-LEFT: 15pt; PADDING-RIGHT: 8pt" vAlign=top width="1%"><FONT style="FONT-SIZE: 9.5pt">&#9679;</FONT> </TD>

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   <P align=justify><B><FONT size=2 face="Times New Roman">All founders of AKASOL, representing 59.4 percent of shares in AKASOL, have signed irrevocable undertakings to tender their shares</FONT></B></P></TD></TR>

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   <P align=justify><B><FONT size=2 face="Times New Roman">AKASOL to continue to operate independently under the AKASOL brand</FONT></B></P></TD></TR>

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   <P align=justify><B><FONT size=2 face="Times New Roman">CEO Sven Schulz and CFO Carsten Bovenschen to continue to run the company</FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Darmstadt, 15. February 2021 &#8211; AKASOL AG (ISIN: DE000A2JNWZ9, &#8222;AKASOL&#8220;), a leading German developer and manufacturer of high-performance and high-energy lithium-ion battery systems and a provider of comprehensive solutions, as well as BorgWarner Inc., and Blitz F21-842 AG (in future: ABBA BidCo AG), a subsidiary of BorgWarner Inc. (together &#8222;BorgWarner&#8220; or &#8222;Investor&#8220;), a globally leading automotive supplier, have signed a Business Combination Agreement to enter into a strategic partnership</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The strategic partnership gives AKASOL the opportunity to lever BorgWarner&#8217;s unique global business platform, thus facilitating its ambitious growth strategy within the e-mobility field and further strengthening its market position for battery systems. Under the strategic partnership, AKASOL will continue to operate independently under the AKASOL brand. The Executive Board led by CEO Sven Schulz and CFO Carsten Bovenschen as well as the other founders continue to run the company. Furthermore, with the Business Combination Agreement, AKASOL and BorgWarner agreed on important cornerstones of the partnership that secure the interests of customers and employees of AKASOL.</FONT></P>


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<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Following signing of the Business Combination Agreement, Blitz F21-842 AG (in future: ABBA BidCo AG) today published the decision to make a voluntary public tender offer to the shareholders of AKASOL for the acquisition of all outstanding no-par value bearer shares in AKASOL against payment of a cash consideration of EUR 120.00 per AKASOL share. The offer price represents a premium of 23.4 percent on the volume-weighted three-month average share price prior to the announcement, a premium of 44.2 on the volume-weighted six-month average share price prior to the announcement as well as a significant premium to the median broker target price of EUR 99.00, each as of 12 February 2021 according to Bloomberg. It also represents an EV/sales multiple of approx. 6x based on research analysts&#8216; consensus of approx. EUR 125m in 2021E sales as well as an EV/sales multiple of approx. 1.8x based on AKASOL&#8216;s 2024E mid-term sales target in excess of EUR 400m.</FONT></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Sven Schulz (via Schulz Group GmbH) and the other founders of AKASOL, representing 59.4% percent of shares in AKASOL, have signed irrevocable undertakings to tender their shares.</FONT></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The offer will be subject to a minimum acceptance threshold of 50 percent plus one share and the fulfilment of further customary conditions, including regulatory clearances.</FONT></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Executive Board and the Supervisory Board of AKASOL support the Offer and the strategic partnership. Subject to the careful review of the Offer document and their statutory duties, the Executive Board and the Supervisory Board of AKASOL intend to recommend shareholders of the company to accept the Offer in their reasoned statement.</FONT></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Sven Schulz, CEO of AKASOL: &#8222;The Executive Board welcomes the strategic partnership with BorgWarner, as it offers significant strategic perspectives to AKASOL. BorgWarner shares our vision of emission-free mobility and with joint forces we will expand AKASOL&#8217;s technology and market leadership for high-performance battery systems. After more than 12 years of successful and independent business development as the main shareholder and CEO of AKASOL, I am convinced that this is the right next step for a very promising future of our company, so together with the other founders I have decided to offer my shares to BorgWarner at the offer price, as a clear signal of confidence in their attractive offer and strategic partnership. At the request of BorgWarner and based on my personal motivation, I will continue to lead AKASOL as CEO together with my colleague Carsten Bovenschen, all founders and the management team. We are all excited to create this new chapter of our company history.&#8221; The Offer document (once available) and other information relating to the public tender Offer will be made available by the Investor on the following website: www.abba-offer.com.</FONT></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Berenberg is acting as financial advisor and Hogan Lovells is acting as legal advisor to AKASOL AG, represented by the management board. The supervisory board of AKASOL has sought independent advice; PricewaterhouseCoopers is acting as financial advisor and Allen &amp; Overy as legal advisor.</FONT></P>
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<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Important Note</FONT></B></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">This press release is not a statement from the Executive Board or Supervisory Board to the announced Offer. The Executive Board and the Supervisory Board will provide a reasoned statement pursuant to &#167; 27 Wp&#220;G after publication of the Offer document by the Investor. Shareholders are advised to read the statement in full before reaching their decision as to whether or not to accept the Offer. The sole authoritative document for the Offer itself is the Offer document from the Investor.</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Contact Investor Relations:</FONT></B></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">AKASOL AG, Isabel Heinen<BR>Telephone: +49 (0) 6151 800 500-193<BR>E-Mail: isabel.heinen@akasol.com</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">About AKASOL</FONT></B></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">AKASOL is a leading German developer and manufacturer of high-energy and high-performance lithium-ion battery systems for use in buses, commercial vehicles, rail vehicles and industrial vehicles, as well as in ships and boats. With 30 years of experience, AKASOL is a pioneer in the development and manufacture of lithium-ion battery systems for commercial applications. Shares of AKASOL AG stock have been traded on the Prime Standard segment of the Frankfurt Stock Exchange since June 29, 2018.</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Disclaimer</FONT></B></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Statements contained herein could be deemed to constitute what are referred to as &#8220;forward-looking statements.&#8221; Forward-looking statements are identifiable by the use of words such as &#8220;could,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;plans,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;estimates,&#8221; &#8220;believes,&#8221; &#8220;intends,&#8221; &#8220;envisages,&#8221; &#8220;aims&#8221; or the negative form of these terms, or corresponding modifications and comparable terms.</FONT></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Based on current expectations, forward-looking statements involve a number of known and unknown risks, uncertainties and other factors as a consequence of which actual results, degrees of capacity utilization, developments and successes achieved by the Group, or on the part of the branch of industry in which it operates, might turn out to be materially different from the results contained or implied herein. The faith placed in forward-looking statements should not be unreasonably high. The Group will not update or review any forward-looking statements published herein in light of new information, future events or for any other reason</FONT><B><FONT size=2 face="Times New Roman">.</FONT></B></P>
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<P style="TEXT-ALIGN: justify"><B><FONT size=4 face="Times New Roman">AKASOL und BorgWarner schlie&#223;en Business Combination Agreement ab und gehen strategische Partnerschaft ein; </FONT></B><B><FONT size=4 face="Times New Roman">BorgWarner k&#252;ndigt freiwilliges &#246;ffentliches &#220;bernahmeangebot an</FONT></B></P>
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   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Nach Unterzeichnung des Business Combination Agreement hat BorgWarner die Entscheidung ver&#246;ffentlicht, ein freiwilliges &#246;ffentliches &#220;bernahmeangebot f&#252;r s&#228;mtliche ausstehenden Aktien der AKASOL zum Preis von EUR 120,00 in bar je AKASOL-Aktie abzugeben</FONT></B></P></TD></TR>
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   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Vorstand und Aufsichtsrat hei&#223;en strategische Partnerschaft mit BorgWarner sowie freiwilliges &#246;ffentliches &#220;bernahmeangebot willkommen</FONT></B></P></TD></TR>
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   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">AKASOL profitiert von neuem strategischen Partner, der das langfristige Wachstum und die Unternehmensstrategie unterst&#252;tzt</FONT></B></P></TD></TR>
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   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Aktion&#228;re profitieren von Pr&#228;mie von 23,4 Prozent auf den volumengewichteten Durchschnittskurs der letzten drei Monate sowie einer Pr&#228;mie von 44,2 Prozent auf den volumengewichteten Durchschnittskurs der letzten sechs Monate vor der Ank&#252;ndigung</FONT></B></P></TD></TR>
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   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Alle Gr&#252;nder von AKASOL, die gemeinsam &#252;ber einen Aktienanteil von rund 59,4 Prozent verf&#252;gen, haben unwiderrufliche Andienungsvereinbarungen unterzeichnet</FONT></B></P></TD></TR>
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   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">AKASOL wird eigenst&#228;ndig unter der Marke AKASOL weitergef&#252;hrt</FONT></B></P></TD></TR>
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   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">CEO Sven Schulz und CFO Carsten Bovenschen werden das Unternehmen weiterf&#252;hren</FONT></B></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Darmstadt, 15. Februar 2021 &#8211; Die AKASOL AG (&#8222;AKASOL&#8221;; das &#8222;Unternehmen&#8220;; ISIN DE000A2JNWZ9), ein f&#252;hrender deutscher Entwickler und Hersteller von Hochleistungs- und Hochenergie-Lithium-Ionen-Batteriesystemen sowie Anbieter von Komplettl&#246;sungen, sowie BorgWarner Inc., und die Blitz F21-842 AG (k&#252;nftig: ABBA BidCo AG), eine Tochtergesellschaft der BorgWarner Inc. (gemeinsam &#8222;BorgWarner&#8220; oder &#8222;Investor&#8220;), ein global f&#252;hrender Automobilzulieferer, haben ein Business Combination Agreement unterzeichnet, um eine strategische Partnerschaft einzugehen.</FONT></B></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Die strategische Partnerschaft bietet AKASOL die M&#246;glichkeit, unter Nutzung der globalen Plattform von BorgWarner die ambitionierte Wachstumsstrategie im Elektromobilit&#228;tsumfeld umzusetzen und die Marktposition f&#252;r Batteriesysteme weiter zu st&#228;rken. Dabei soll AKASOL eigenst&#228;ndig und unter der Marke AKASOL weitergef&#252;hrt werden. Der Vorstand um Sven Schulz und Carsten Bovenschen, sowie alle Gr&#252;nder werden dem Unternehmen erhalten bleiben und das Unternehmen weiterentwickeln. Dar&#252;ber hinaus haben AKASOL und BorgWarner in dem Business Combination Agreement wichtige Eckpunkte der Partnerschaft vereinbart, die die Interessen der Kunden und Mitarbeiter von AKASOL sichern.</FONT></P>
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<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Nach Unterzeichnung des Business Combination Agreement hat die Blitz F21-842 AG (k&#252;nftig: ABBA BidCo AG) heute die Entscheidung ver&#246;ffentlicht, den Aktion&#228;ren der AKASOL im Wege eines freiwilligen &#246;ffentlichen &#220;bernahmeangebots anzubieten, s&#228;mtliche ausstehenden auf den Inhaber lautenden St&#252;ckaktien der AKASOL gegen Zahlung einer Geldleistung in H&#246;he von 120,00 EUR je AKASOL-Aktie zu erwerben. Der Angebotspreis entspricht einer Pr&#228;mie von 23,4 Prozent auf den volumengewichteten Durchschnittskurs der letzten drei Monate vor der Ank&#252;ndigung, einer Pr&#228;mie von 44,2 Prozent auf den volumengewichteten Durchschnittskurs der letzten sechs Monate vor der Ank&#252;ndigung sowie einer erheblichen Pr&#228;mie auf das von Bloomberg ermittelte Analystenkursziel im Median von EUR 99,00, jeweils bezogen auf den 12. Februar 2021. Er stellt zudem ein EV/Umsatzmultiplikator von ca. 6x auf den von Research Analysten prognostizierten 2021er Umsatz von ca. 125 Mio. EUR (Analystenkonsensus) sowie ein EV/Umsatzmultiplikator von ca. 1,8x Umsatz auf das 2024er Mittelfristziel von mind. 400 Mio. EUR dar. Sven Schulz (&#252;ber die Schulz Group GmbH) sowie die weiteren Gr&#252;nder von AKASOL, die gemeinsam &#252;ber einen Aktienanteil von rund 59,4 Prozent verf&#252;gen, haben bereits unwiderrufliche Andienungsvereinbarungen unterzeichnet.</FONT></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Die Durchf&#252;hrung setzt eine Mindestannahmequote von 50 Prozent plus einer Aktie sowie die Erf&#252;llung weiterer &#252;blicher Vollzugsbedingungen voraus, darunter regulatorische Freigaben.</FONT></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Vorstand und Aufsichtsrat von AKASOL bef&#252;rworten das Angebot und unterst&#252;tzen die strategische Partnerschaft. Vorbehaltlich der sorgf&#228;ltigen Pr&#252;fung der Angebotsunterlage und der Wahrnehmung ihrer gesetzlichen Verpflichtungen gehen Vorstand und Aufsichtsrat von AKASOL davon aus, in ihrer begr&#252;ndeten Stellungnahme den Aktion&#228;ren des Unternehmens zu empfehlen, das Angebot anzunehmen.</FONT></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Sven Schulz, Vorstandsvorsitzender von AKASOL: &#8222;Der Vorstand begr&#252;&#223;t die strategische Partnerschaft mit BorgWarner, da sie f&#252;r das Unternehmen eine hervorragende strategische Perspektive bietet. BorgWarner teilt unsere Vision der emissionsfreien Mobilit&#228;t und gemeinsam werden wir die Technologie- und Marktf&#252;hrerschaft von AKASOL f&#252;r hochentwickelte Batteriesysteme weiter ausbauen. Nachdem ich AKASOL in den vergangenen 12 Jahren als Hauptaktion&#228;r und Vorstandsvorsitzender aufgebaut und entwickelt habe, bin ich davon &#252;berzeugt, dass dies der richtige n&#228;chste Schritt f&#252;r eine sehr vielversprechende Zukunft unseres Unternehmens ist, so dass ich gemeinsam mit den anderen Gr&#252;ndern beschlossen habe, meine Aktien BorgWarner zum Angebotspreis anzubieten. Das ist ein klares Signal des Vertrauens in ihr attraktives Angebot. Auf Wunsch von BorgWarner und aus eigenem Antrieb werde ich das Unternehmen als CEO zusammen mit meinem Kollegen Carsten Bovenschen, allen Gr&#252;ndern und dem Management Team weiterf&#252;hren. Wir freuen uns sehr auf dieses neue Kapitel unserer Firmengeschichte&#8220;</FONT></P>
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<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Der Investor wird die Angebotsunterlage gemeinsam mit weiteren Informationen in Bezug auf das &#246;ffentliche &#220;bernahmeangebot auf folgender Website zug&#228;nglich machen: www.abba-angebot.de.</FONT></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">F&#252;r die Akasol AG, vertreten durch den Vorstand, agiert Berenberg als Finanzberater, Hogan Lovells fungiert als Rechtsberater. Der Aufsichtsrat von AKASOL l&#228;sst sich unabh&#228;ngig beraten; hier sind PricewaterhouseCoopers als Finanzberater und Allen &amp; Overy als Rechtsberater t&#228;tig.</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Wichtiger Hinweis</FONT></B></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Diese Pressemitteilung stellt keine Stellungnahme von Vorstand oder Aufsichtsrat zu dem angek&#252;ndigten Angebot dar. Vorstand und Aufsichtsrat werden nach Ver&#246;ffentlichung der Angebotsunterlage durch den Investor eine begr&#252;ndete Stellungnahme gem&#228;&#223; &#167; 27 Wp&#220;G abgeben. Den Aktion&#228;ren wird empfohlen, die Stellungnahme vollst&#228;ndig zu lesen, bevor sie ihre Entscheidung &#252;ber Annahme oder Ablehnung des Angebots treffen. Alleinverbindlich f&#252;r das Angebot selbst ist die Angebotsunterlage des Investors.</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Kontakt Investor Relations:</FONT></B></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">AKASOL AG, Isabel Heinen<BR>Telefon: +49 (0) 6151 800 500-193<BR>E-Mail: isabel.heinen@akasol.com</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">&#220;ber AKASOL</FONT></B></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">AKASOL ist ein f&#252;hrender deutscher Entwickler und Hersteller von Hochenergie- und Hochleistungs-Lithium-Ionen-Batteriesystemen f&#252;r Busse, Nutzfahrzeuge, Schienenfahrzeuge, Industriefahrzeuge, Schiffe und Boote sowie Anbieter von Komplettl&#246;sungen. Mit 30 Jahren Erfahrung ist AKASOL ein Pionier in der Entwicklung und Herstellung von Lithium-Ionen-Batteriesystemen f&#252;r kommerzielle Anwendungen. Die Aktien der AKASOL AG werden seit dem 29. Juni 2018 im Prime Standard der Frankfurter Wertpapierb&#246;rse gehandelt.</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Disclaimer</FONT></B></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Hierin enthaltene Aussagen k&#246;nnten sogenannte &#8222;zukunftsgerichtete Aussagen&#8220; darstellen. Zukunftsgerichtete Aussagen sind durch W&#246;rter wie &#8222;k&#246;nnte&#8220;, &#8222;wird&#8220;, &#8222;sollte&#8220;, &#8222;plant&#8220;, &#8222;erwartet&#8220;, &#8222;sieht voraus&#8220;, &#8222;sch&#228;tzt&#8220;, &#8222;glaubt&#8220;, &#8222;beabsichtigt&#8220;, &#8222;hat vor&#8220;, &#8222;zielen&#8220; oder deren negativer Form oder entsprechenden Abwandlungen und vergleichbaren Begriffen erkennbar.</FONT></P>
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<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Zukunftsgerichtete Aussagen basieren auf den gegenw&#228;rtigen Erwartungen und beinhalten eine Reihe bekannter und unbekannter Risiken, Unsicherheiten sowie andere Faktoren, durch welche die tats&#228;chlichen Ergebnisse, Auslastungsgrade, Entwicklungen und Erfolge der Gruppe oder des Industriezweigs, in dem sie t&#228;tig ist, grundlegend anders ausfallen k&#246;nnen als hier enthalten oder impliziert. Es sollte kein unangemessenes Vertrauen in zukunftsgerichtete Aussagen gesetzt werden. Die Gruppe wird die hier ver&#246;ffentlichten zukunftsgerichteten Aussagen aufgrund neuer Informationen, k&#252;nftiger Ereignisse oder aus sonstigen Gr&#252;nden nicht aktualisieren oder &#252;berpr&#252;fen.</FONT></P>
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<TYPE>EX-10.2
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<FILENAME>borg3887841-ex102.htm
<DESCRIPTION>AGREEMENT ON THE IRREVOCABLE UNDERTAKING, DATED FEBRUARY 15, 2021, SVEN
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<P style="TEXT-ALIGN: right"><B><FONT size=2 face="Times New Roman">Exhibit 10.2</FONT></B></P>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Sven Schulz</FONT></P>

<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">AGREEMENT<BR>ON THE<BR></FONT></B><B><FONT size=2 face="Times New Roman">IRREVOCABLE UNDERTAKING</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">among</FONT></P>

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   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(1)</FONT></FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Sven Schulz, born on 6 November 1975, residing at Wannental 21, 88131 Lindau (</FONT><B><I><FONT size=2 face="Times New Roman">S</FONT></I></B><FONT size=2 face="Times New Roman">);</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: justify"></TD></TR>

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   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(2)</FONT></FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Sven Schulz Group GmbH, a limited liability company (</FONT><I><FONT size=2 face="Times New Roman">Gesellschaft mit beschr&#228;nkter Haftung</FONT></I><FONT size=2 face="Times New Roman">) incorporated under the laws of Germany, having its registered office at Ravensburg, Germany, and registered with the Local Court of Ulm under HRB 722493 (the </FONT><B><I><FONT size=2 face="Times New Roman">Shareholder</FONT></I></B><FONT size=2 face="Times New Roman">);</FONT></TD></TR>

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   <TD vAlign=top width="1%">&nbsp;</TD>

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   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(3)</FONT></FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG), a stock corporation (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesellschaft</FONT></I><FONT size=2 face="Times New Roman">) incorporated under the laws of Germany, having its registered office at Frankfurt am Main, Germany, and registered with the Local Court of Frankfurt am Main, Germany under HRB 121819 (the </FONT><B><I><FONT size=2 face="Times New Roman">Bidder</FONT></I></B><FONT size=2 face="Times New Roman">); and</FONT></TD></TR>

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   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(4)</FONT></FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">BorgWarner Inc, a corporation incorporated under the laws of the State of Delaware, United States of America, having its registered office at 3850 Hamlin Road, Auburn Hills, Michigan 48326, United States of America (</FONT><B><I><FONT size=2 face="Times New Roman">BW </FONT></I></B><FONT size=2 face="Times New Roman">and together with the Bidder the </FONT><B><I><FONT size=2 face="Times New Roman">Acquirors</FONT></I></B><FONT size=2 face="Times New Roman">);</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;</TD>

   <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">(S, the Shareholder, Bidder and BW each a <STRONG><EM>Party</EM></STRONG> and together the <STRONG><EM>Parties</EM></STRONG>).</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;</TD>

   <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top width="100%" colSpan=2><B><FONT size=2 face="Times New Roman">PREAMBLE</FONT></B></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;</TD>

   <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(A)</FONT></FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">AKASOL AG is a stock corporation (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesellschaft</FONT></I><FONT size=2 face="Times New Roman">) incorporated under the laws of Germany, having its registered office at at Darmstadt, Germany, and registered with the commercial register of the Local Court of Darmstadt under HRB 97834 (the </FONT><B><I><FONT size=2 face="Times New Roman">Target</FONT></I></B><FONT size=2 face="Times New Roman">, and including its subsidiaries from time to time </FONT><B><I><FONT size=2 face="Times New Roman">Target Group</FONT></I></B><FONT size=2 face="Times New Roman">). The share capital (</FONT><I><FONT size=2 face="Times New Roman">Grundkapital</FONT></I><FONT size=2 face="Times New Roman">) of the Target amounts to EUR </FONT><FONT size=2 face="Times New Roman">6,061,856 and is divided into 6,061,856 non-par value bearer shares (</FONT><I><FONT size=2 face="Times New Roman">auf den Inhaber lautende St&#252;ckaktien</FONT></I><FONT size=2 face="Times New Roman">) with a proportionate amount of EUR 1.00 per share of the share capital (each a </FONT><B><I><FONT size=2 face="Times New Roman">Target Share </FONT></I></B><FONT size=2 face="Times New Roman">and collectively </FONT><B><I><FONT size=2 face="Times New Roman">Target Shares</FONT></I></B><FONT size=2 face="Times New Roman">). The Target Shares are admitted to trading on the regulated market (</FONT><I><FONT size=2 face="Times New Roman">Regulierter Markt</FONT></I><FONT size=2 face="Times New Roman">) with additional post-admission obligations (Prime Standard) of the Frankfurt Stock Exchange under ISIN DE000A2JNWZ9).</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;</TD>

   <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(B)</FONT></FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Shareholder, a wholly-owned subsidiary of S, holds a total of 2,874,116 Target Shares (the </FONT><B><I><FONT size=2 face="Times New Roman">Shareholder&#8217;s Shares</FONT></I></B><FONT size=2 face="Times New Roman">). The Shareholder&#8217;s Shares represent approximately 47,41 per cent of the issued and outstanding share capital of the Target as of the Effective Date (as defined in clause 1.1(a)) and are held in a securities deposit with Landesbank Baden-W&#252;rttemberg in Stuttgart, as confirmed by the deposit confirmation issued by Landesbank Baden-W&#252;rttemberg and attached hereto as </FONT><B><U><FONT size=2 face="Times New Roman">Schedule B</FONT></U></B><FONT size=2 face="Times New Roman">.</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;</TD>

   <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(C)</FONT></FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Bidder, an indirectly wholly-owned subsidiary of BW, considers to make a voluntary public takeover offer within the meaning of Section 29 para. 1 of the German Securities Acquisition and Takeover Act (</FONT><I><FONT size=2 face="Times New Roman">Wertpapiererwerbs-und &#220;bernahmegesetz, <B>Wp&Uuml;G</b></FONT></I><FONT size=2 face="Times New Roman">) for the purchase of all Target Shares against cash consideration per Target Share (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">1|38</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Sven Schulz</FONT></P>

<DIV>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">





<TR>

   <TD STYLE="vertical-align: top"><FONT size=2 face="Times New Roman">(D)</FONT></TD>

   <TD COLSPAN="2" STYLE="text-align: justify; vertical-align: top"><FONT size=2 face="Times New Roman">The Shareholder intends to tender all Shareholder&#8217;s Shares into the Offer subject to the terms and conditions agreed herein.</FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD COLSPAN="2" STYLE="text-align: justify; vertical-align: top"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD COLSPAN="3" STYLE="text-align: justify; vertical-align: top"><FONT size=2 face="Times New Roman">Now, therefore, the Parties enter into this agreement on the acceptance of a potential public takeover offer (the </FONT><B><I><FONT size=2 face="Times New Roman">Agreement</FONT></I></B><FONT size=2 face="Times New Roman">):</FONT></TD></TR>

<TR>

   <TD COLSPAN="3" STYLE="vertical-align: top">

   <P>&nbsp;</P></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"><B><FONT size=2 face="Times New Roman">1.</FONT></B></TD>

   <TD COLSPAN="2" STYLE="text-align: justify; vertical-align: top"><B><FONT size=2 face="Times New Roman">Bidder&#8217;s Obligations regarding the Offer</FONT></B></TD></TR>

<TR>

   <TD STYLE="vertical-align: top">&nbsp;<B><FONT size=2 face="Times New Roman"></FONT></B></TD>

   <TD COLSPAN="2" STYLE="text-align: justify; vertical-align: top"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"><FONT size=2 face="Times New Roman">1.1</FONT></TD>

   <TD COLSPAN="2" STYLE="text-align: justify; vertical-align: top"><FONT size=2 face="Times New Roman">The Bidder hereby undertakes to</FONT></TD></TR>

<TR>
   <TD STYLE="vertical-align: top">&nbsp;</TD>
   <TD COLSPAN="2" STYLE="text-align: justify; vertical-align: top">&nbsp;</TD></TR>
<TR>

   <TD STYLE="vertical-align: top; width: 1%"></TD>

   <TD STYLE="text-align: justify; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top; width: 98%"><FONT size=2 face="Times New Roman">announce its intention to launch the Offer in accordance with Section 10 para. 1 sentence 1 and para. 3 sentence 1 Wp&#220;G immediately after execution of this Agreement (the </FONT><B><I><FONT size=2 face="Times New Roman">Effective Date</FONT></I></B><FONT size=2 face="Times New Roman">);</FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="text-align: justify; vertical-align: top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="text-align: justify; vertical-align: top"></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="text-align: justify; vertical-align: top"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top"><FONT size=2 face="Times New Roman">submit a formal offer document (</FONT><I><FONT size=2 face="Times New Roman">Angebotsunterlage</FONT></I><FONT size=2 face="Times New Roman">) describing the terms and conditions of the Offer (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer Document</FONT></I></B><FONT size=2 face="Times New Roman">) and which has been prepared in accordance with the Takeover Act and the German Regulation on the Content of the Offer Document, the Consideration for Takeover Offers and Mandatory Offers and the Release from the Obligation to Publish and Submit a Tender Offer (</FONT><B><I><FONT size=2 face="Times New Roman">Wp&#220;G-Angebotsverordnung</FONT></I></B><FONT size=2 face="Times New Roman">) to the German Federal Financial Supervisory Authority (</FONT><I><FONT size=2 face="Times New Roman">Bundesanstalt f&#252;r Finanzdienstleistungsaufsicht &#8211; </FONT></I><B><I><FONT size=2 face="Times New Roman">BaFin</FONT></I></B><FONT size=2 face="Times New Roman">) for its review within the time period prescribed in Section 14 para. 1 Wp&#220;G and which shall have a maximum offer period (Section 16 para. 1 Wp&#220;G) of six (6) weeks and which reflects the terms and conditions of this Agreement, in particular as set forth in clauses 1.2 and 1.3 and shall otherwise correspond to the requirements set forth in the Business Combination Agreement executed on or about the date hereof between the Target and the Acquirors (</FONT><B><I><FONT size=2 face="Times New Roman">Business Combination Agreement</FONT></I></B><FONT size=2 face="Times New Roman">);</FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top">&nbsp;</TD>

   <TD STYLE="text-align: justify; vertical-align: top"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top"></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="text-align: justify; vertical-align: top"><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top"><FONT size=2 face="Times New Roman">not apply for any extension of the notice period by the BaFin pursuant to Section 14 para. 1 sentence 3 Wp&#220;G, unless the Shareholder gives its prior written consent;</FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top">&nbsp;</TD>

   <TD STYLE="text-align: justify; vertical-align: top"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="text-align: justify; vertical-align: top"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top"><FONT size=2 face="Times New Roman">publish the Offer Document within the time period prescribed in Section 14 para. 2 Wp&#220;G, provided that the publication of the Offer Document is not prohibited by the BaFin; and</FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top">&nbsp;</TD>

   <TD STYLE="text-align: justify; vertical-align: top"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="text-align: justify; vertical-align: top"><FONT size=2 face="Times New Roman">(e)</FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top"><FONT size=2 face="Times New Roman">settle the Offer by payment of the Offer Price (as defined in clause 1.3) (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer Completion</FONT></I></B><FONT size=2 face="Times New Roman">) against simultaneous transfer of the tendered Target Shares without undue delay and in any event no later than seven (7) Business Days (meaning a day on which banks in Frankfurt am Main, Germany, are open for general commercial business), which obligation shall arise only after (i) the additional acceptance period within the meaning of Section 16 para. 2 Wp&#220;G has expired and (ii) all Offer Conditions have been satisfied or validly waived.</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">2|38</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Sven Schulz</FONT></P>

<DIV>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">1.2</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Offer Document shall only contain those conditions within the meaning of Section 18 para. 1 Wp&#220;G (</FONT><I><FONT size=2 face="Times New Roman">Angebotsbedingungen</FONT></I><FONT size=2 face="Times New Roman">) as set out in </FONT><U><FONT size=2 face="Times New Roman"><STRONG>Schedule 1.2</STRONG></FONT></U><FONT size=2 face="Times New Roman"><STRONG>. </STRONG>For the avoidance of doubt, the Offer Document shall not provide for a minimum acceptance threshold (Mindestannahmeschwelle) in excess of a number of Target Shares equal to the sum of 50% of the number of Target Shares issued plus one Target Share.</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">1.3</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The consideration per share (</FONT><I><FONT size=2 face="Times New Roman">Gegenleistung</FONT></I><FONT size=2 face="Times New Roman">) to be offered to the shareholders of the Target in the Offer Document shall be in cash only and shall be at least EUR 120.00 per Target Share (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer Price</FONT></I></B><FONT size=2 face="Times New Roman">). For the avoidance of doubt, the Shareholder shall not be obliged to accept the Offer if the consideration per share in the Offer Document is below the Offer Price. In the event of (x) any subsequent voluntary increases of the Offer Price or (y) any mandatory increases of the Offer Price pursuant to Section 31 para. 1, 4 through 7 Wp&#220;G and Sections 3 to 5 Wp&#220;G-Angebotsverordnung, the Shareholder hereby irrevocably waives its right to receive any consideration exceeding the Offer Price and shall be obligated to pay back to the Bidder within four (4) Business Days after the Offer Completion, with respect to each of Shareholder&#8217;s Shares, an amount equal to the difference between the initial Offer Price of EUR 120.00 per Target Share and the increased offer price paid by the Bidder at the Offer Completion.</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;</TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">1.4</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">BW hereby guarantees by way of an independent promise of guarantee (</FONT><I><FONT size=2 face="Times New Roman">selbst&#228;ndiges Garantieversprechen</FONT></I><FONT size=2 face="Times New Roman">) within the meaning of Section 311 para. 1 German Civil Code (</FONT><I><FONT size=2 face="Times New Roman">B&#252;rgerliches Gesetzbuch</FONT></I><FONT size=2 face="Times New Roman">, </FONT><B><I><FONT size=2 face="Times New Roman">BGB</FONT></I></B><FONT size=2 face="Times New Roman">) that the Bidder will be in position to finance the settlement of the Offer and that a securities services enterprise independent from the Acquirors and their affiliates within the meaning of Section 15 German Stock Corporation Act (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesetz) (</FONT></I><B><I><FONT size=2 face="Times New Roman">Affliliates</FONT></I></B><FONT size=2 face="Times New Roman">) will issue a financing confirmation in accordance with Section 13 Wp&#220;G (the </FONT><B><I><FONT size=2 face="Times New Roman">Financing Confirmation</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"><B><FONT size=2 face="Times New Roman">2.</FONT></B></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Shareholder&#8217;s Obligations regarding the Acceptance of the Offer</FONT></B></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify">&nbsp;<B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">2.1</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Subject to the Offer Document having been published and fulfilling the requirements set forth in clause 1.1(b), the Shareholder hereby undertakes:</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"> </TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">to accept the Offer in respect of all Shareholder&#8217;s Shares pursuant to the terms and provisions of the Offer Document no later than within three (3) </FONT><B><I><FONT size=2 face="Times New Roman">Business Days </FONT></I></B><FONT size=2 face="Times New Roman">(i.e. days on which banks are open for business in Frankfurt am Main) after commencement of the acceptance period pursuant to Section 16 para. 1 Wp&#220;G; </FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify"></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify">&nbsp;</TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">not to challenge (</FONT><I><FONT size=2 face="Times New Roman">anfechten</FONT></I><FONT size=2 face="Times New Roman">) or withdraw from (</FONT><I><FONT size=2 face="Times New Roman">zur&#252;cktreten</FONT></I><FONT size=2 face="Times New Roman">) any such acceptance, including pursuant to Section 21 para. 4 Wp&#220;G and Section 22 para. 3 Wp&#220;G, and thereby to waive any withdrawal that may exist under the Wp&#220;G or other legislation with regard to the agreements resulting from acceptance of the Offer; however, should the Bidder increase the Offer, the Shareholder shall be entitled to withdraw from the Offer pursuant to section 21 para. 4 Wp&#220;G; in such case, the Shareholder undertakes to accept the Bidder&#180;s increased Offer immediately after the withdrawal but at the latest three (3) Business Days after the publication of the amendment to the Offer; and</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">3|38</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Sven Schulz</FONT></P>

<DIV>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>




<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">to the extent legally permissible, to abstain from any act which should reasonably be expected to materially jeopardize or adversely affect the success of the Offer (in particular the satisfaction of the offer conditions pursuant to clause 1.2).</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">2.2</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">For the avoidance of doubt, the Parties confirm that this Agreement does not constitute a sale and purchase and/or transfer agreement and/or option agreement for the Shareholder&#8217;s Shares, which shall exclusively be executed under the terms of the Offer Document.</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">2.3</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Shareholder shall immediately notify the Acquirors after the Shareholder accepts the Offer in accordance with clause 2.1.(a).</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">2.4</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">With regard to the undertaking pursuant to clause 2.1(a) and the acceptance of the Offer, no consent according to Section 1365 BGB by S&#8217; spouse is required</FONT><B><FONT size=2 face="Times New Roman">.</FONT></B></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman"><STRONG>3.</STRONG></FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Lock up, Standstill, Non-compete</FONT></B></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">3.1</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">From the Effective Date until the earlier of (i) Offer Completion and (ii) the termination of this Agreement in accordance with its terms,</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">the Shareholder shall not sell, transfer, charge, encumber, grant any option over or otherwise dispose of any interest in any of the Shareholder&#8217;s Shares, other than pursuant to its acceptance of the Offer or of an increased or otherwise revised Offer and</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;</TD>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">S will not sell or transfer any shares in the Shareholder.</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;</TD>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">3.2</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">From the Effective Date until the earlier of (i) Offer Completion and (ii) three (3) months following the termination of this Agreement in accordance with its terms, the Shareholder shall not buy or acquire any Target Shares or shares in its subsidiaries or any specific financial instruments relating to such shares, unless BW gives its prior written consent.</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">3.3</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">For a period of two (2) years from the date of Offer Completion, the Shareholder and S shall not, and shall procure that none of their respective Affiliates, directly or indirectly, develop, manufacture, market, sell or distribute products which are of the same kind as products developed, manufactured, marketed, sold or distributed (or are in an advanced stage for sale or distribution) by the Target or its Affiliates at the date of Offer Completion including improved versions or updates as well as successor models, and including, furthermore, products which are fully developed but not yet marketed (together </FONT><B><I><FONT size=2 face="Times New Roman">Relevant Products</FONT></I></B><FONT size=2 face="Times New Roman">). </FONT><FONT size=2 face="Times New Roman">The Shareholder and S shall not, and shall procure that none of their respective Affiliates will, directly or indirectly, hold or acquire any shares or interests in a company which develops, manufactures, markets, sells or distributes Relevant Products, unless the shares or interests are acquired or held purely for financial investment purposes and do not grant the acquirer, directly or indirectly, management functions or any material influence in the competing company.</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">4|38</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Sven Schulz</FONT></P>

<DIV>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">3.4</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Clause 3.3 applies only to the territorial area in which the Company or its Affiliates carry out business activities at the time of Offer Completion or territorial areas where the Company or its Affiliates were planning to enter at such time, provided they already made investments or otherwise incurred expenses in relation to the entry into the relevant territorial area. The Parties are in agreement that any entitlement that S may have to a non-compete compensation shall be settled by the purchase price.</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"><STRONG>4.</STRONG></FONT></FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Representations and Warranties by the Shareholder; Remedies</FONT></B></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">4.1</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Shareholder&#8217;s Guarantees</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Shareholder hereby guarantees to the Acquirors by way of an independent promise of guarantee (</FONT><I><FONT size=2 face="Times New Roman">selbst&#228;ndiges Garantieversprechen</FONT></I><FONT size=2 face="Times New Roman">) within the meaning of Section 311 para. 1 BGB that as of the Effective Date the statements made below are, and as of the date of the Offer Completion will continue to be, true, complete and not misleading:</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Shareholder is a limited liability company (</FONT><I><FONT size=2 face="Times New Roman">Gesellschaft mit beschr&#228;nkter Haftung</FONT></I><FONT size=2 face="Times New Roman">), duly incorporated and existing under the laws of Germany, duly represented by its board of directors.</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Shareholder has the corporate power and authority and has obtained all corporate authorisations to enter into this Agreement and all ancillary agreements hereto and to perform its obligations hereunder and thereunder.</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">No bankruptcy, insolvency or similar proceedings in any jurisdiction have been commenced or applied for with respect to the Shareholder and the Shareholder is not over-indebted (</FONT><I><FONT size=2 face="Times New Roman">&#252;berschuldet</FONT></I><FONT size=2 face="Times New Roman">) or unable to pay its due debts (</FONT><I><FONT size=2 face="Times New Roman">zahlungsunf&#228;hig</FONT></I><FONT size=2 face="Times New Roman">) or for other reasons compelled to apply for the commencement of bankruptcy, insolvency or similar proceedings under applicable law. To the Knowledge of the Shareholder (as defined in clause (m)), as of the Effective Date, no bankruptcy, insolvency or similar filings have been threatened in writing with respect to the Shareholder.</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify">&nbsp;</TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The information contained in Preamble (B) is correct and not misleading.</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">(e)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Shareholder is the sole legal and beneficial owner of the Shareholder&#8217;s Shares.</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify">&nbsp;</TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">(f)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify">



   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Shareholder&#8217;s Shares have been fully paid up and no contributions have been returned (</FONT><I><FONT size=2 face="Times New Roman">Einlagenr&#252;ckgew&#228;hr</FONT></I><FONT size=2 face="Times New Roman">) in respect thereof.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify">&nbsp;</TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD VALIGN="TOP" WIDTH="1%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">(g)</FONT></TD>

   <TD VALIGN="TOP" WIDTH="98%" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Shareholder is entitled to freely dispose of the Shareholder&#8217;s Shares subject only to restrictions under applicable law (including merger control and other regulatory laws). The Shareholder&#8217;s Shares are (i) free of any rights of third parties, including but not limited to liens, charges and other encumbrances (</FONT><I><FONT size=2 face="Times New Roman">dingliche Belastungen</FONT></I><FONT size=2 face="Times New Roman">), except for security interest of Clearstream Banking AG and/or the Shareholders depositary bank (if any), and (ii) not subject to any options, pre-emption rights, rights of first refusal or similar rights of third parties.</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">5|38</FONT></P>

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<!-- part 02 -->
<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Sven Schulz</FONT></P>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(h)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder&#8217;s Shares are held by the Shareholder for its own risk and account and are not subject to any shareholders&#8217; voting, trust, pooling, consultation or similar agreements or arrangements.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="98%" align=left></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(i)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">As of the Signing Date, the Shareholder&#8217;s entering into this Agreement and the performance of the Shareholder&#8217;s respective obligations hereunder neither require any approval or consent by any court, governmental authority or other third party (except for approvals or consents which are Offer Conditions) nor violate any judicial or governmental order or decree or any applicable law.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(j)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">To the Knowledge of the Shareholder, on the Effective Date and on the date of Offer Completion, all notice and disclosure duties of the Shareholder under Section 20, 21 of the AktG, Section 33 et seq. of the Securities Trading Act (</FONT><I><FONT size=2 face="Times New Roman">Wertpapierhandelsgesetz, WpHG</FONT></I><FONT size=2 face="Times New Roman">), if applicable and as amended from time to time, have always been discharged in a timely and proper manner.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(k)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><B><U><FONT size=2 face="Times New Roman">Schedule 4.1(k)</FONT></U></B><FONT size=2 face="Times New Roman"> contains a complete and correct list of all agreements between (i) the Target Group on the one hand and (ii) the Shareholder, S and/or their respective Affiliates, any person close (</FONT><I><FONT size=2 face="Times New Roman">nahestehend</FONT></I><FONT size=2 face="Times New Roman">) to the Shareholder, S and/or their respective Affiliates or any of their direct or indirect shareholders within the meaning of IAS 24 or affiliated companies within the meaning of section 15 </FONT><I><FONT size=2 face="Times New Roman">et. seq</FONT></I><FONT size=2 face="Times New Roman">. of the AktG of such persons (the persons under this clause 4.2(d)(ii) collectively the </FONT><B><I><FONT size=2 face="Times New Roman">Related Persons</FONT></I></B><FONT size=2 face="Times New Roman">) on the other hand (collectively the </FONT><B><I><FONT size=2 face="Times New Roman">Related Persons Agreements</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(l)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><B><U><FONT size=2 face="Times New Roman">Schedule 4.1(l)</FONT></U></B><FONT size=2 face="Times New Roman"> contains a complete and correct list of all intellectual property rights relating to the business of the Target Group (including but not limited to patents, trademarks as well as copyrights) and applications for registration of intellectual property rights that are owned or held by S or the Shareholder rather than by the Target Group (collectively the </FONT><B><I><FONT size=2 face="Times New Roman">Shareholder IP</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(m)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">To the Knowledge of the Shareholder, between 30 September 2020 and the Effective Date, the business operations of the Target have been conducted by the management of the Target in the ordinary course of business, in accordance with the standard of care of a prudent merchant (</FONT><I><FONT size=2 face="Times New Roman">Sorgfalt eines ordentlichen Kaufmanns</FONT></I><FONT size=2 face="Times New Roman">) and in substantially the same business manner as before, i.e. in a manner that would not materially adversely affect the business operations of the Target Group taken as a whole.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">6</FONT><FONT size=2 face="Times New Roman">|38</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Sven Schulz</FONT></P>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(n)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">To the Knowledge of the Shareholder, the consolidated audited financial statements of the Target Group as of 31 December 2019 (</FONT><B><I><FONT size=2 face="Times New Roman">Target&#8217;s Annual Report 2019</FONT></I></B><B><FONT size=2 face="Times New Roman">) </FONT></B><FONT size=2 face="Times New Roman">submitted to BW were prepared in accordance with generally accepted accounting principles and present a true and fair view of the financial position of the Target Group, within the meaning of section 264 para. 2 of the Commercial Code (</FONT><I><FONT size=2 face="Times New Roman">Handelsgesetzbuch, </FONT></I><B><I><FONT size=2 face="Times New Roman">HGB</FONT></I></B><FONT size=2 face="Times New Roman">), of the net assets position (</FONT><I><FONT size=2 face="Times New Roman">Verm&#246;genslage</FONT></I><FONT size=2 face="Times New Roman">), financial condition (</FONT><I><FONT size=2 face="Times New Roman">Finanzlage</FONT></I><FONT size=2 face="Times New Roman">) and results of operation (</FONT><I><FONT size=2 face="Times New Roman">Ertragslage</FONT></I><FONT size=2 face="Times New Roman">) of the Target Group as of the balance sheet date referenced therein. To the Knowledge of the Shareholder, the unaudited consolidated financial statements of the Target Group as of 30 September 2020 present a true and fair view of the financial position of the Target Group as of the relevant dates as applicable and of its financial performance and its cash flows in accordance with International Financial Reporting Standards (</FONT><I><FONT size=2 face="Times New Roman">IFRS</FONT></I><FONT size=2 face="Times New Roman">). To the Knowledge of the Shareholder, (i) the Target has made public all material information required to be made public by applicable law and regulation that is relevant for the valuation of the Target Shares since the publication of Target&#8217;s Annual Report 2019 and (ii) no information made public by or on behalf of the Target since the publication of Target&#8217;s Annual Report 2019 (x) contains any untrue statement of a material fact or (y) omits to state a material fact required to be stated therein, provided that the material fact in (x) or (y), as the case may be, is relevant for the valuation of the Target Shares. Any violations of the statements in this clause 4.1(n) shall only constitute a breach of this Shareholder&#8217;s Guarantee if the circumstances or occurrences underlying the breach have, individually or collectively, a material adverse effect on the Target Group taken as a whole.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(o)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">To the Knowledge of the Shareholder, each member of the Target Group is in compliance in all material respects with all applicable Legal Requirements other than where such non-compliance would not have a material adverse effect on the Target Group taken as a whole. To the Knowledge of the Shareholder, since 1 January 2016, no member of the Target Group has received any notice from any governmental authority or any other person of any alleged violation or noncompliance of any Legal Requirements other than where such non-compliance would not have a material adverse effect on the Target Group taken as a whole. As used herein, the term &#8220;Legal Requirements&#8221; means all laws and regulations which are relevant for the business operations of the Target Group, including anti-bribery and anti-money laundering laws and regulations and economic or trade sanctions, articles of association, by-laws or other equivalent constitutional documents as well as orders, decrees or judgments of any court or any governmental or regulatory authority in any jurisdiction which applies to and are relevant for the business operations of the Target Group.</FONT></P></TD></TR></TABLE>

<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="99%" align=left></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">4.2</FONT></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Knowledge of Shareholder</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">In this Agreement, the Shareholder shall be deemed to have had Knowledge of the Shareholder if, as of the Effective Date, S and any of the Shareholder&#8217;s management had actual knowledge (</FONT><I><FONT size=2 face="Times New Roman">positive Kenntnis</FONT></I><FONT size=2 face="Times New Roman">). For the avoidance of doubt, no attribution of knowledge (</FONT><I><FONT size=2 face="Times New Roman">Wissenszurechnung</FONT></I><FONT size=2 face="Times New Roman">) under the principles of Section 166 para 1 German Civil Code (</FONT><I><FONT size=2 face="Times New Roman">BGB</FONT></I><FONT size=2 face="Times New Roman">) with respect to matters that are known or could have been known by employees of the Target Group shall apply.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">7</FONT><FONT size=2 face="Times New Roman">|38</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Sven Schulz</FONT></P>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">4.3</FONT></TD>
   <TD width="99%">
   <P align=justify><FONT size=2 face="Times New Roman">No Further Representations</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="99%"></TD></TR></TABLE>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">The Shareholder makes no representations and warranties or guarantees other than those expressly and conclusively set forth in clause 4.1. The Parties agree that the statements contained in clause 4.1 shall not constitute a quality guarantee concerning the purchase object within the meanings of Sections 443 and 444 of the German Civil Code (</FONT><I><FONT size=2 face="Times New Roman">BGB</FONT></I><FONT size=2 face="Times New Roman">) (</FONT><I><FONT size=2 face="Times New Roman">keine Garantie f&#252;r die Beschaffenheit oder Haltbarkeit des Kaufgegenstandes</FONT></I><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">S makes no representations and warranties or guarantees whatsoever under this Agreement.</FONT></P></TD></TR></TABLE>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="2%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD vAlign=top width="2%" noWrap><FONT size=2 face="Times New Roman">4.4</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">Remedies</FONT></P></TD></TR></TABLE>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">If the Shareholder is in breach of any its guarantees set forth in clause 4.1 or is otherwise in breach of its obligations under this Agreement, the Shareholder shall, at the Shareholder&#8217;s discretion, either</FONT></P></TD></TR></TABLE>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="98%" noWrap align=left></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">(i)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">no later than twenty (20) Business Days after being notified by BW of such breach in writing, put the Acquirors in such position it would have been in without such breach ((restitution in kind &#8211; <I><FONT size=2 face="Times New Roman">Naturalrestitution</FONT></I>) or</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD vAlign=top width="98%" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">(ii)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">if and to the extent such restitution in kind is impossible or the Shareholder refuses such restitution or if such restitution is not achieved within twenty (20) Business Days after the Shareholder having been notified of such breach, pay to Bidder (as reduction of the Offer Consideration) monetary damages (</FONT><I><FONT size=2 face="Times New Roman">positives Interesse</FONT></I><FONT size=2 face="Times New Roman">), within the meaning of Section 249 et seq. BGB, arising out of such breach, including any foreseeable consequential or indirect damages (</FONT><I><FONT size=2 face="Times New Roman">vorhersehbare Folgesch&#228;den oder vorherseebare mittelbare Sch&#228;den</FONT></I><FONT size=2 face="Times New Roman">), however, excluding (i) any lost profits (Section 252 BGB), (ii) any internal administration or overhead costs and (iii) taxes or similar charges on indemnification payments.</FONT></P></TD></TR></TABLE>

<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">Clause 4.4(a) shall apply mutatis mutandis (</FONT><I><FONT size=2 face="Times New Roman">entsprechende Anwendung</FONT></I><FONT size=2 face="Times New Roman">) to any breach by S of its obligations under this Agreement.</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD width="98%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(c)</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">The aggregate liability of the Shareholder under this Agreement for breaches of the Shareholder&#8217;s guarantees in clauses 4.1(h) to 4.1(o) shall be limited to twenty-five percent (25%) of the Offer Price multiplied by the number of Shareholder&#8217;s Shares actually paid to the Shareholder upon acceptance of the Offer. The aggregate liability of the Shareholder under this Agreement for breaches of the Shareholder&#8217;s guarantees in clauses 4.1(a) to 4.1(g) shall be limited to one hundred percent (100%) of the Offer Price multiplied by the number of Shareholder&#8217;s Shares actually paid to the Shareholder upon acceptance of the Offer. Furthermore, the aggregate liability of the Shareholder and of S for any breaches under this Agreement collectively shall be limited to one hundred percent (100%) of the Offer Price multiplied by the number of Shareholder&#8217;s Shares actually paid to the Shareholder upon acceptance of the Offer.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">8</FONT><FONT size=2 face="Times New Roman">|38</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Sven Schulz</FONT></P>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(d)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Parties agree that the rights and remedies which the Acquirors may have with respect to a breach by the Shareholder of its obligations under this Agreement are limited to the rights and remedies specified in this clause 4.4. Subject to the preceding sentence, with respect to the subject matter of this Agreement, any all and all rights and remedies of any legal nature (other than the rights and claims expressly set forth in this Agreement) of the Acquirors against the Shareholder shall be expressly excluded.</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="98%"></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(e)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The limitations set forth in this clause 4.4 shall not apply in case of fraud (</FONT><I><FONT size=2 face="Times New Roman">arglistige T&#228;uschung</FONT></I><FONT size=2 face="Times New Roman">) or wilful misconduct (</FONT><I><FONT size=2 face="Times New Roman">Vorsatz</FONT></I><FONT size=2 face="Times New Roman">) of the Shareholder.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(f)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Until the twelve-month anniversary of the date of the
   Offer Completion, the Shareholder shall not, and S shall not cause the Shareholder to, directly or indirectly, distribute to
   its owners any portion of the aggregate Offer Price paid by the Bidder at the Offer Completion with respect to the
   Shareholder&#8217;s Shares (the </FONT><B><I><FONT size=2 face="Times New Roman">Shareholder Proceeds</FONT></I></B><FONT size=2 face="Times New Roman">).
   For the avoidance of doubt, this clause 4.1(f) shall not restrict the Shareholder from (i) investing the Shareholder Proceeds
   or (ii) making distributions to its owners of income derived from sources other than the Shareholder Proceeds or the
   investment of such proceeds.</FONT></P></TD></TR></TABLE>

<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="99%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap><B><FONT size=2 face="Times New Roman">5.</FONT></B> </TD>
   <TD width="99%">
   <P align=justify><B><FONT size=2 face="Times New Roman">Representations and Warranties by the Acquirors; Remedies</FONT></B></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">5.1</FONT></TD>
   <TD width="99%">
   <P align=justify><FONT size=2 face="Times New Roman">Acquirors&#8217; Guarantees</FONT></P></TD></TR>
<TR>
   <TD width="1%"></TD>
   <TD width="99%">&nbsp;</TD></TR>
<TR>
   <TD width="1%"></TD>
   <TD width="99%">
   <P align=justify><FONT size=2 face="Times New Roman">The Acquirors hereby guarantee to the Shareholder by way of an independent promise of guarantee (</FONT><I><FONT size=2 face="Times New Roman">selbst&#228;ndiges Garantieversprechen</FONT></I><FONT size=2 face="Times New Roman">) within the meaning of Section 311 para. 1 BGB that as of the Effective Date the statements made below are, and as of the date of the Offer Completion will continue to be, true, complete and not misleading:</FONT></P></TD></TR></TABLE>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">The Bidder is a stock corporation (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesellschaft</FONT></I><FONT size=2 face="Times New Roman">), duly incorporated and existing under the laws of Germany, duly represented by its board of directors. BW is a corporation incorporated under the laws of the State of Delaware, United States of America and duly represented by its board of directors. BW indirectly through BorgWarner US Holding LLC, a corporation incorporated under the laws of the State of Delaware, United States of America, having its registered office at 3850 Hamlin Road, Auburn Hills, Michigan 48326, United States of America, has unrestricted ownership of all shares in the Bidder.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">9</FONT><FONT size=2 face="Times New Roman">|38</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Sven Schulz</FONT></P>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">No bankruptcy, insolvency or similar proceedings in any jurisdiction have been commenced or applied for with respect to either of the Acquirors and neither of the Acquirors is over-indebted (</FONT><I><FONT size=2 face="Times New Roman">&#252;berschuldet</FONT></I><FONT size=2 face="Times New Roman">) or unable to pay its due debts (</FONT><I><FONT size=2 face="Times New Roman">zahlungsunf&#228;hig</FONT></I><FONT size=2 face="Times New Roman">) or for other reasons compelled to apply for the commencement of bankruptcy, insolvency or similar proceedings under applicable law. To the Knowledge of either of the Acquirors (as defined in clause 5.2), as of the Effective Date, no bankruptcy, insolvency or similar filings have been threatened in writing with respect to either of the Acquirors.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="98%" align=left></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(c)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Both of the Acquirors have full authority and capacity to enter into and perform their respective obligations under this Irrevocable, including the consummation of the Offer. The Acquirors' entering into this Agreement and the performance of the Acquirors' respective obligations hereunder do not violate the articles of association (or similar document) or bylaws of either of the Acquirors and have been duly authorized by all necessary corporate actions on the part of each of the Acquirors. As of the Signing Date, the Acquirors' entering into this Agreement and the performance of the Acquirors' respective obligations hereunder neither require any approval or consent by any court, governmental authority or other third party (except for approvals or consents which are Offer Conditions) or violate any judicial or governmental order or decree or any applicable law.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(d)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Acquirors have complied in all material respects with all capital market laws and regulations in Germany and the United States of America applicable to any transaction contemplated by this Agreement including, but not limited to, notification requirements, insider trading and market manipulation rules. None of the Acquirors, any Affiliate of either of the Acquirors, or any entity acting collectively with the Acquirors within the meaning of Section 2 para. 5 Wp&#220;G has before the signing of this Agreement acquired or agreed to acquire or will acquire within a period that will be relevant under the minimum pricing rules pursuant to Section 31 Wp&#220;G and Section 3 et seq. of the Takeover Regulation (</FONT><I><FONT size=2 face="Times New Roman">Wp&#220;G-Angebotsverordnung</FONT></I><FONT size=2 face="Times New Roman">) any Target Shares for a consideration per share exceeding the Offer Price.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(e)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Bidder is acquiring the Shareholder&#8217;s Shares for its own account as well as for investment and not with a view to any sale, distribution or other disposal thereof. Neither of the Acquirors is acting in the interest or for the account of any unaffiliated third party. BW has no intention to sell, distribute other otherwise dispose of any shares held in the Bidder to an entity outside its group.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">10</FONT><FONT size=2 face="Times New Roman">|38</FONT></P>
<HR align=center width="100%" noShade size="2">

<!-- part 03 -->
<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Sven Schulz</FONT></P>
<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">5.2 </FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Knowledge of the Acquirors</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">In this Agreement, the Acquirors shall be deemed to have had Knowledge of either Acquiror, as of the Effective Date, any executive officer of BW or any member of Bidder&#8217;s management board (as the case may be) had actual knowledge </FONT><I><FONT size=2 face="Times New Roman">(positive Kenntnis</FONT></I><FONT size=2 face="Times New Roman">) or any lack of knowledge due to gross negligence (</FONT><I><FONT size=2 face="Times New Roman">grob fahrl&#228;ssige Unkenntnis</FONT></I><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">5.3</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Remedies</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">If either of the Acquirors is in breach of its guarantees set forth in clause 5.1, the Acquirors shall be jointly and severally liable (</FONT><I><FONT size=2 face="Times New Roman">haftend als Gesamtschuldner</FONT></I><FONT size=2 face="Times New Roman">) either (i) no later than twenty (20) Business Days after being notified by the Shareholder of such breach in writing, to put the Shareholder in such position it would have been in without such breach (</FONT><I><FONT size=2 face="Times New Roman">Naturalrestitution</FONT></I><FONT size=2 face="Times New Roman">) or (ii) after the expiration of such period or earlier at the Shareholder's sole discretion, to pay to the Shareholder an amount equal to any damages (</FONT><I><FONT size=2 face="Times New Roman">positives Interesse</FONT></I><FONT size=2 face="Times New Roman">), within the meaning of Section 249 et seq. BGB arising out of such breach, including any foreseeable consequential or indirect damages (</FONT><I><FONT size=2 face="Times New Roman">vorhersehbare Folgesch&#228;den oder vorherseebare mittelbare Sch&#228;den</FONT></I><FONT size=2 face="Times New Roman">), however, excluding (i) any lost profits (Section 252 BGB), (ii) any internal administration or overhead costs and (iii) taxes or similar charges on indemnification payments.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">6.</FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Announcements</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">6.1</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Immediately after the Effective Date, Bidder will publish the announcement of the Offer, also stating the Offer Price, in accordance with Section 10 para. 1 sentence 1 and para. 3 sentence 1 Wp&#220;G and a corresponding press release.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">6.2</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Acquirors can refer to this Agreement and its content in the course of market standard investor relations and/or analyst communications and in their announcements and disclosure in connection with the Bidder&#8217;s decision to make the Offer.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">6.3</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">None of the Parties shall make any further public announcements or press releases in relation to the contents of this Agreement, unless otherwise agreed between the Parties in writing, explicitly provided for in this Agreement or required by applicable law stock market regulation, in the discretion of the disclosing party exercised in good faith, or upon request of a competent authority or stock market.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;</TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">7.</FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Cooperation among the Parties</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">In order to obtain all required regulatory clearances, the
   Acquirors and the Shareholder as well as S shall co-operate in all respects with each other in the preparation of the filing
   and in connection with any submission, investigation or inquiry, supply to any competent authority as promptly as practicable
   any additional information requested pursuant to any applicable law and take all other procedural actions (other than, for
   the avoidance of doubt, offering remedies or entering into any commitment to reduce merger control concerns of competition
   authorities) required in order to obtain any necessary clearance or to cause any applicable waiting periods to commence and
   expire. Without limiting the foregoing, (x) the Acquirors, on the one hand, and the Shareholder and S, on the other hand,
   shall not take any action that has or may have the effect of extending any applicable waiting period or comparable period
   under applicable law or enter into any agreement with any competent authority not to consummate the transactions contemplated
   hereby, except with the prior written consent of the other party, and (y) neither the Shareholder nor S, without BW&#8217;s
   advance written consent in BW&#8217;s sole discretion, shall, directly or indirectly, propose, negotiate, consent to,
   undertake, or agree to any sale, divestiture, lease, license, transfer, disposition, encumbrance, restriction, impairment,
   limitation of freedom of operation, or hold separate of any assets, licenses, properties, operations, rights, product lines,
   businesses, or interests of the Target Group.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">11|38</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Sven Schulz</FONT></P>
<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">8.</FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Transfer of Intellectual Property</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">S and the Shareholder shall transfer and assign all Shareholder IP to the Target with effect from the Offer Completion. S and the Shareholder shall reasonably support the Target in re-registration of such intellectual property rights, including by making statements or producing information necessary to effect the change of the registry.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">9.</FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Exclusion of Claims</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">9.1</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">With the exception of the agreements and arrangements described on </FONT><B><U><FONT size=2 face="Times New Roman">Schedule 4.1(k)</FONT></U></B><FONT size=2 face="Times New Roman"> (collectively the </FONT><B><I><FONT size=2 face="Times New Roman">Surviving Relationships</FONT></I></B><FONT size=2 face="Times New Roman">), and to the extent legally permissible, all claims and remedies of S and the Shareholder against a member of the Target Group, irrespective of their nature, amount and legal basis, are hereby expressly waived and excluded effective upon the Offer Completion with effect from the Offer Completion and therefore, from and after the Offer Completion, neither S nor the Shareholder shall, directly or indirectly, initiate or promote any such claims or remedies against the Target Group.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">9.2</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">For the avoidance of doubt, the waiver and obligation of S and the Shareholder pursuant to the foregoing clause 9.1 shall not apply in cases of intent (</FONT><I><FONT size=2 face="Times New Roman">Vorsatz</FONT></I><FONT size=2 face="Times New Roman">) or willful deceit (</FONT><I><FONT size=2 face="Times New Roman">arglistige T&#228;uschung</FONT></I><FONT size=2 face="Times New Roman">) or fraudulent behavior on the part of the Acquirors.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">10.</FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Termination of Agreements with Target Group</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">With the exception of the Surviving Relationships, S and the Shareholder shall terminate all Related-Party Agreements upon the Offer Completion with effect from the Offer Completion.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">11.</FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Confidentiality</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">11.1</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Parties hereby undertake to each other to keep the existence and contents of this Agreement and anything set out or referred to therein, as well as the discussions between the Parties, and, in particular, terms and conditions of the Offer, strictly confidential, subject only to disclosure on a need to know basis to professional advisors, (on Shareholder&#8217;s and S&#8217;s side) to the Target and to the members of the management board and the supervisory board of the Target and their respective advisors, (on the Acquirors&#8217; side) to sources of debt financing and the issuer of the Financing Confirmation, as provided for in this Agreement or as required, in the discretion of the disclosing party exercised in good faith, by applicable law or stock market regulation or upon request of a competent authority or stock market. Notwithstanding the foregoing, the Acquirors may disclose information regarding this Agreement, the Offer and the Target Group in meetings with its existing or prospective investors, provided that the Acquirors shall provide a copy of any presentation to be used in such an investor meeting to the Target in advance of such investor meeting.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">12|38</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Sven Schulz</FONT></P>
<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">11.2</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Starting from the Offer Completion, the Shareholder and S
   hereby undertake to keep any trade and business secrets (</FONT><I><FONT size=2 face="Times New Roman">Betriebs- und
   Gesch&#228;ftsgeheimnisse</FONT></I><FONT size=2 face="Times New Roman">) of the Target Group strictly
   confidential.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">11.3</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Clause 11.1 and 11.2 shall not include information that (i) is or has become known in the public domain other than through a fault of the Party obliged to hold the information confidential or of any of such Party&#8217;s Affiliates or (ii) was lawfully known to such Party or to any of such Party&#8217;s Affiliates prior to the Effective Date this Agreement and which is not subject to any other confidential obligation to the other Party or Parties concerned.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">11.4</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Shareholder and S hereby consent to the disclosure of the existence and/or the major terms and conditions of this Agreement in connection with the Offer as from the Effective Date and, in particular to BaFin, including in the Offer Document and/or any related or ancillary document, as required by law.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">12.</FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Parent Guarantee</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">BW hereby guarantees by way of an independent guarantee (</FONT><I><FONT size=2 face="Times New Roman">selbst&#228;ndige Garantieversprechen</FONT></I><FONT size=2 face="Times New Roman">) within the meaning of Section 311 para. 1 BGB on first demand (</FONT><I><FONT size=2 face="Times New Roman">nicht-akzessorische Garantie auf erstes Anfordern</FONT></I><FONT size=2 face="Times New Roman">) the full and punctual performance of all obligations and undertakings of the Bidder under or in connection with this Agreement.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">13.</FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Assignment</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Rights and claims under this Agreement may only be assigned with the prior written consent of the respective other Party.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">14.</FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Notices</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">14.1</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">All communications and declarations of will (</FONT><I><FONT size=2 face="Times New Roman">Willenserkl&#228;rungen</FONT></I><FONT size=2 face="Times New Roman">) under or in connection with this Agreement shall be made in writing and shall be conveyed personally, by post or by email to the Parties at the following addresses and marked for the attention of the following persons:</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">13|38</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Sven Schulz</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman">Sven Schulz:</FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Wannental 21, 88131 Lindau, Germany</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Email: sven.schulz@schulz-group.com</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">For the attention of: Sven Schulz</FONT></TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">with a copy to:</FONT></TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Hogan Lovells International LLP</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Gro&#223;e Gallusstra&#223;e 18</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">60312 Frankfurt</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Email:michael.schlitt@hoganlovells.com,</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">tim.brandi@hoganlovells.com</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">For the attention of: Michael Schlitt, Tim Brandi</FONT></TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman">Schulz Group GmbH:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Theodor-Krumm-Str. 18, 88213 Ravensburg, Germany</FONT></TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Email: steffen.schlegel@schulz-group.com</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">For the attention of: Steffen Schlegel<BR>with a copy to: Sven Schulz</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" align=center><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="70%" colSpan=2 align=center>&nbsp;</TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="70%" colSpan=2 align=left><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in Blitz F21-842 AG (in future: ABBA BidCo AG) </FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman">future: ABBA BidCo AG)</FONT>&nbsp;&nbsp;&nbsp;</TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Attn.: Robert Boyle</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">c/o BorgWarner Europe GmbH</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Augustaanlage 54-56</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">68165 Mannheim</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Germany</FONT></TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Email: rboyle@borgwarner.com</FONT></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">14|38</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Sven Schulz</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">with a copy to:</FONT></TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Freshfields Bruckhaus Deringer</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Rechtsanw&#228;lte Steuerberater PartG mbB</FONT></TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Attn.: Rick van Aerssen and Dr. Sabrina Kulenkamp</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Bockenheimer Anlage 44</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">60322 Frankfurt am Main</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Germany</FONT></TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Email: rick.aerssen@freshfields.com</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;sabrina.kulenkamp@freshfields.com</FONT></TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">and</FONT></TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Foley &amp; Lardner LLP</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Attn.: Patrick G. Quick</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">777 East Wisconsin Avenue</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Boston, MA 53202</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">United States of America</FONT></TD></TR>
<TR>
   <TD width="30%">&nbsp;</TD>
   <TD width="70%" colSpan=2></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Email: pgquick@foley.com</FONT></TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="70%" colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman">BorgWarner Inc.:</FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">BorgWarner Inc.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Attn.: Tonit Calaway</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">3850 Hamlin Road</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Auburn Hills, MI 48326</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">United States of America</FONT></TD></TR>
<TR>
   <TD width="30%">&nbsp;</TD>
   <TD width="70%" colSpan=2></TD></TR>
<TR>
   <TD width="30%">&nbsp;</TD>
   <TD width="70%" colSpan=2></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left></TD>
   <TD width="15%" noWrap align=left></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Email: tcalaway@borgwarner.com</FONT></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">15|38</FONT></P>
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<!-- part 04 -->
<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Sven Schulz</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
   <TD width="15%" noWrap align=left>&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">with a copy to:</FONT></TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="15%"></TD>
   <TD width="55%">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Freshfields Bruckhaus Deringer</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Rechtsanw&#228;lte Steuerberater PartG mbB</FONT></TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="15%"></TD>
   <TD width="55%">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Attn.: Rick van Aerssen and Dr. Sabrina Kulenkamp</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Bockenheimer Anlage 44</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">60322 Frankfurt am Main</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Germany</FONT></TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="15%"></TD>
   <TD width="55%">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Email: rick.aerssen@freshfields.com</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="55%" align=left><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;sabrina.kulenkamp@freshfields.com</FONT></TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="15%"></TD>
   <TD width="55%">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">and</FONT></TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="15%"></TD>
   <TD width="55%">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Foley &amp; Lardner LLP</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Attn.: Patrick G. Quick</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">777 East Wisconsin Avenue</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Boston, MA 53202</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">United States of America</FONT></TD></TR>
<TR>
   <TD width="30%"></TD>
   <TD width="15%"></TD>
   <TD width="55%">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="55%" noWrap align=left><FONT size=2 face="Times New Roman">Email: pgquick@foley.com</FONT></TD></TR></TABLE>
 <BR>

<TABLE style="LINE-HEIGHT:normal; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">14.2</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Parties must immediately notify the respective other Parties and their advisers in writing of any changes to their addresses specified above. Until such notice is received, the previous address shall be deemed valid.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">15.</FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Service of Process</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;</TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Clause 14 (</FONT><I><FONT size=2 face="Times New Roman">Notices</FONT></I><FONT size=2 face="Times New Roman">) shall not apply in relation to the service of any claim form, notice, order, judgment or other document relating to or in connection with any legal proceedings, suit or action (including arbitration) arising out of or in connection with this Agreement. BW and the Bidder hereby appoint the lawyers admitted in Germany of the law firm of Freshfields Bruckhaus Deringer Rechtsanw&#228;lte Steuerberater PartG mbB, S and the Shareholder hereby appoint the lawyers admitted in Germany of the law firm of Hogan Lovells International LLP as their respective agent for service of process for all legal proceedings arising out of or in connection with this Agreement. Any appointments shall only terminate upon the appointment of another agent for service of process domiciled in Germany, provided that the agent for service of process is an attorney admitted to the bar in Germany and her/his appointment has been notified to the Shareholder in case of BW&#8217;s or the Bidder&#8217;s agent or to BW and the Bidder in case of the Shareholder&#8217;s agent. If any appointment terminates otherwise (e.g., because the appointee ceases to exist), the relevant Party must without undue delay, but in any event no later than within ten (10) Business Days following such termination, appoint another agent for service of process who meets the requirements set out in the preceding sentence. If such appointment is not made as required, service can be effected, by posting the claim form, notice, order, judgment or other document by registered letter with acknowledgement of receipt or equivalent under the address of the respective Party stated in clause 11.1. Service shall then be deemed to have been effected on the addressee on the tenth (10<SUP>th</SUP>) day following the lodging of the letter. The Parties shall promptly after the Effective Date and upon the appointment of any new agent for service of process issue to the agent a written power of attorney and shall irrevocably instruct the agent to submit such deed in connection with any service of process under or in connection with this Agreement. The Parties agree that they waive any objection to the service so effected.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">16|38</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Sven Schulz</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height:normal; border-collapse: collapse; width: 100%">
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman">16.</FONT></B></TD>
   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><B><FONT size=2 face="Times New Roman">Termination prior to Offer Completion</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"></TD>
   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">16.1</FONT></TD>
   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Shareholder and S shall each individually be entitled to terminate (</FONT><I><FONT size=2 face="Times New Roman">k&#252;ndigen</FONT></I><FONT size=2 face="Times New Roman">) this Agreement by written notice to the Acquirors if</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: justify"></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">the Offer Document has not been published within the time period as prescribed in the Wp&#220;G and/or in compliance with the requirements of clause 1;</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify"></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">either of the Acquirors fails to comply in any material respect with its obligations under this Agreement; or</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify"></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">(c)</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">the Business Combination Agreement has been terminated.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify"></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">16.2</FONT></TD>
   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">The Bidder and BW shall each individually be entitled to terminate this Agreement by written notice to the Shareholder and S if (a) the Shareholder fails in any material respect to comply with its obligations under this Agreement or (b) the Business Combination Agreement has been terminated.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">16.3</FONT></TD>
   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Each Party shall be entitled to terminate this Agreement by written notice to the respective other Party if one or more conditions included in the Offer Document (that has not been waived in accordance with the Offer Document) finally failed (</FONT><I><FONT size=2 face="Times New Roman">endg&#252;ltig ausfallen</FONT></I><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify">


   </TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">16.4</FONT></TD>
   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">The termination rights pursuant to clause 16.1 through clause 16.3 shall only be exercised within one (1) month after the termination right has arisen.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">16.5</FONT></TD>
   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">In case of a termination in accordance with this clause 16,</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">all rights and obligations of the Parties hereunder shall terminate without any liability of any Party to the other Party, other than any liability for breaches of this Agreement prior to the termination which has been the cause for the termination of this Agreement; and</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify"></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">this Agreement shall immediately cease to have any effect, with the exception only of its clause 16.5 and clause 11 (</FONT><I><FONT size=2 face="Times New Roman">Confidentiality</FONT></I><FONT size=2 face="Times New Roman">) through 10 (</FONT><I><FONT size=2 face="Times New Roman">Service of Process</FONT></I><FONT size=2 face="Times New Roman">) and 17 (</FONT><I><FONT size=2 face="Times New Roman">Costs</FONT></I><FONT size=2 face="Times New Roman">) as well as 18 (</FONT><I><FONT size=2 face="Times New Roman">Miscellaneous</FONT></I><FONT size=2 face="Times New Roman">), which shall continue to apply.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">17|38</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Sven Schulz</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: normal; border-collapse: collapse; width: 100%">

<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman">17.</FONT></B></TD>
   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman">Costs</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">All transfer taxes, stamp duties, statutory fees (notarial fees), registration duties or other charges related in order to obtain any regulatory clearances (including merger control and other regulatory proceedings) payable in connection with the execution of this Agreement or the Offer shall be borne by Acquirors. Each Party shall pay its own expenses, including the costs of its advisors, incurred in connection with this Agreement.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman">18.</FONT></B></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><B><FONT size=2 face="Times New Roman">Miscellaneous</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;<B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">18.1</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">If one or more provisions of this Agreement should be or become wholly or partially invalid or void, the validity of the other provisions of this Agreement shall not be affected thereby. The same shall apply if it should transpire that this Agreement contains an omission. In place of the invalid or void provision (or, as the case may be, in order to rectify the omission), an appropriate provision which comes as close as legally possible to what the Parties were trying to achieve with the invalid or void provision (or, as the case may be, the invalid or void part thereof) shall be deemed agreed upon. If a contractual omission needs to be rectified, a provision shall be deemed agreed upon which, in view of the purpose and intent of this Agreement, comes as close as possible to what the Parties would have agreed if they had been aware of the omission at the time that this Agreement was concluded.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">18.2</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">This Agreement sets out the entire agreement between the Parties relating to the subject-matter hereof. Variations and additions to this Agreement shall be made in writing. The same shall apply to any waiver of the need to comply with the provisions of this clause 18.2.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">18.3</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">This Agreement may be executed by the Parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. Any signature (including, without limitation, (i) any electronic symbol or process attached to, or associated with, a contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record and (ii) any facsimile, E-pencil or .pdf signature) hereto or to any other certificate, agreement or document related to this Agreement, and any contract formation or record-keeping, in each case, through electronic means, shall have the same legal validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">18.4</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">Terms to which a German translation has been added shall be interpreted as having the meaning assigned to them by the German translation. The headings of the clauses and subclauses in this Agreement are for convenience purposes only and shall not affect the interpretation of any of the provisions hereof.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">18.5</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">This Agreement shall be governed by the substantive laws of Germany, not taking into account the provisions on conflicts of laws.</FONT></TD></TR>
</TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">18|38</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Sven Schulz</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: normal; border-collapse: collapse; width: 100%">

<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">18.6</FONT></TD>
   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">All disputes arising out of or in connection with this Agreement or its validity shall be finally settled in accordance with the Arbitration Rules of the German Arbitration Institute (</FONT><I><FONT size=2 face="Times New Roman">DIS</FONT></I><FONT size=2 face="Times New Roman">) without recourse to the ordinary courts of law. Claims of the Parties can be decided in a single arbitration (multi-party-arbitration). The arbitral tribunal shall be comprised of three members. The seat of the arbitration is Frankfurt am Main, Germany. The language of the arbitration shall be English. The rules of law applicable to the merits shall be the law referred to in clause 15.5. This clause 15.6 shall not apply vis-&#224;-vis S; however, immediately after the Effective Date, S and Bidder shall execute a separate arbitration agreement substantially in the form attached hereto as </FONT><B><U><FONT size=2 face="Times New Roman">Schedule 18.6</FONT></U></B><FONT size=2 face="Times New Roman">.</FONT></TD></TR>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            <TR STYLE="vertical-align: bottom">
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: center"><I><FONT size=2 face="Times New Roman">[signatures on the following page]</FONT></I></TD></TR>
</TABLE>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">19|38</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Sven Schulz</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" ALIGN="RIGHT" STYLE="line-height: 14pt; border-collapse: collapse; width: 40%">

<TR vAlign=bottom>
   <TD STYLE="border-bottom: Black 1pt solid; width: 100%; white-space: nowrap; text-align: left">
<FONT size=2 face="Times New Roman">/s/ Sven Schulz</FONT>
</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Sven Schulz, Individually</FONT></TD></TR></TABLE>
<br clear=all>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">20|38</FONT></P>

<HR align=center width="100%" noShade size="2">


<!-- part 05 -->
<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Sven Schulz</FONT></P>





<DIV align=right>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left" colspan=2><B><FONT size=2 face="Times New Roman">Schulz Group GmbH</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Sven Schulz

</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Sven Schulz
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Gesch&auml;ftsf&uuml;hrender Gesellschafter
</FONT></TD></TR>
</TABLE></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">21|38</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Sven Schulz</FONT></P>


<DIV align=right>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR STYLE="vertical-align: bottom">
   <TD COLSPAN="2" STYLE="padding-right: 4pt; vertical-align: bottom; text-align: left"><B><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG)
</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 1%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 99%"><FONT size=2 face="Times New Roman">/s/ Robert Boyle
</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Robert Boyle
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Member of the Management Board&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></TD></TR>
</TABLE></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">22|38</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Sven Schulz</FONT></P>

<DIV align=right>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left" colspan=2><B><FONT size=2 face="Times New Roman">BorgWarner Inc.

</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Tonit M. Calaway
</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Tonit M. Calaway
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Executive Vice President, Chief<BR>
Administrative Officer, General Counsel, and<BR>
Secretary
</FONT></TD></TR>
</TABLE></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">23|38</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Sven Schulz</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Times New Roman">Schedule B Deposit Confirmation</FONT></B></P>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">24|38</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Sven Schulz</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Times New Roman">Schedule 1.2 Offer Conditions</FONT></B></P>

<DIV>

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman">12.</FONT></B></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman">OFFER CONDITIONS</FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman">12.1</FONT></B></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman">Offer Conditions</FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P><FONT size=2 face="Times New Roman">The Offer and the contracts which come into existence as a result of its acceptance by the AKASOL Shareholders are subject to the following conditions (the &#8220;<STRONG>Offer Conditions</STRONG>&#8221;):</FONT></P>

   <P><FONT size=2 face="Times New Roman">[<STRONG>Note:</STRONG><EM> Set of regulatory conditions depends on the outcome of the currently ongoing regulatory analysis and may be amended as required.</EM>]</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P><FONT size=2 face="Times New Roman"></FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.1</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U>Merger control clearances</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U></U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">



   <P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">After publication of this Offer Document and at the latest by [</FONT><FONT size=2 face="Times New Roman">&#9679;</FONT><FONT size=2 face="Times New Roman">]<SUP>1 </SUP>2021, each of the Offer Conditions set out in Section 12.1.1 (a)-(d) of this Offer Document have been fulfilled:</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">the German Federal Cartel Office (<EM>Bundeskartellamt</EM>) has approved the Transaction or the Transaction is deemed to be approved or the FCO has confirmed that it is not competent to review the Transaction;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">the Austrian FCA and FCP have approved the Transaction or the Transaction is deemed to be approved or the FCA and the FCP have confirmed that they are not competent to review the Transaction;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">the Polish UOKiK has approved the Transaction or the Transaction is deemed to be approved or the UOKiK has confirmed that it is not competent to review the Transaction;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">In the event of a referral to the European Commission pursuant to Article 22 of the EU Merger Regulation (&#8220;EUMR&#8221;), the European Commission having approved the Transaction under the EUMR,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">and completion of the Transaction is no longer subject to a suspense obligation under applicable competition law.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.2</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U>[Foreign investment clearance Germany]</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and at the latest by [&#9679;]<SUP>2</SUP> 2021, the BMWi has</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">granted a Certificate of non-objection (<EM>Unbedenklichkeitsbescheinigung</EM>) in accordance with Section 58 para. 1 sentence 1 AWV or otherwise informed the Bidder that it will not initiate proceedings (<EM>Pr&#252;fverfahren</EM>) within the two months&#8217; time period specified in Section 14a para. 1 number 1 of the German Foreign Trade Act (<EM>Au&#223;enwirtschaftsgesetz</EM> &#8211; &#8220;<STRONG>AWG</STRONG>&#8221;); or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">not initiated such proceedings within such time period; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">informed the Bidder in writing, after initiating such proceedings, that the Transaction will not be prohibited or does not meet the requirements for a prohibition; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">not prohibited the Transaction, after initiating such proceedings, within the four months&#8217; time period specified in Section 14a para. 1 number 2 AWG, as possibly extended pursuant to Section 14a paras. 4, 5 and 6 AWG.</FONT></FONT></TD></TR></TABLE>
<DIV>____________________</DIV>
<BR>

<DIV>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>1</SUP></FONT></TD>

   <TD STYLE="vertical-align: top; width: 100%; text-align: justify">



   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note</FONT></B><B><I><FONT size=2 face="Times New Roman">: </FONT></I></B><I><FONT size=2 face="Times New Roman">Long stop date to be determined by BW/BidCo based on outcome of the currently ongoing regulatory analysis and discussion with BaFin.</FONT></I></P></TD></TR>

<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 100%; text-align: justify">

   </TD></TR>

<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>2</SUP></FONT></TD>

   <TD STYLE="vertical-align: top; width: 100%; text-align: justify">

   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note</FONT></B><B><I><FONT size=2 face="Times New Roman">: </FONT></I></B><I><FONT size=2 face="Times New Roman">Long stop date to be determined by BW/BidCo based on outcome of the currently ongoing regulatory analysis and discussion with BaFin.</FONT></I></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">25|38</FONT></P>
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</DIV>

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<BR>


<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.3</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"><U>Minimum Acceptance Threshold</U></FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">



   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Upon expiry of the Acceptance Period, the total sum of the AKASOL Shares</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">for which the acceptance of the Offer has been effectively declared in accordance with Section 13.2 of this Offer Document and for which no withdrawal of the agreement entered into as a result of the acceptance of the Offer has been effectively declared,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">held directly by the Bidder or a person acting jointly with the Bidder pursuant to Section 2 para. 5 Wp&#220;G,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">attributable to the Bidder or any Bidder Parent Company in application of Section 30 Wp&#220;G; and</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">for which the Bidder or persons acting jointly with the Bidder pursuant to Section 2 para. 5 Wp&#220;G have concluded a conditional or unconditional agreement with any AKASOL Shareholder outside of the Offer which entitles them to the transfer of title to these AKASOL Shares,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman">is equivalent to at least 50% of the number of AKASOL Shares outstanding at the end of the Acceptance Period plus one (1) AKASOL Share, i.e. at the time of publication of the Offer Document, at least [6,061,856]<SUP>3</SUP> AKASOL Shares. AKASOL Shares which are subject to several of the preceding paragraphs (a) to (d) will be taken into account only once.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.4</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U>No issuance of instruments to receive AKASOL Shares</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, the Bidder has not received a letter from the management board of AKASOL AG nor has AKASOL AG made a public announcement stating that AKASOL has issued, or guaranteed, subscription rights, options, (convertible) bonds or other financial instruments granting a right to receive AKASOL Shares.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left><FONT  size=2 face="Times New Roman">12.1.5</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><U>No adverse shareholders&#8217; meeting resolution</U></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><U></U></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left><FONT  size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, the general meeting of AKASOL has not adopted a resolution approving</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><U></U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a capital increase; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a change of the rights or nature of shares; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a distribution of a cash or non-cash dividend; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a measure pursuant to the German Transformation Act (<EM>Umwandlungsgesetz</EM>); or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top noWrap align=left></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman">(e)</FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">the conclusion of any upstream intercompany agreement within the meaning of Sections 291, 292 AktG (but excluding any such intercompany agreement with a subsidiary of AKASOL); or</FONT></FONT></TD></TR>

<TR>

   <TD vAlign=top noWrap align=left>&nbsp;</TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman">(f)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">to dissolve AKASOL.</FONT></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left><FONT  size=2 face="Times New Roman">12.1.6</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><U><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">No insolvency of AKASOL</FONT></FONT> <FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"></FONT></FONT></U></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, AKASOL has not published any notification pursuant to Article 17 of Regulation (EU) No 596/2014 (&#8220;<STRONG>Market Abuse Regulation</STRONG>&#8221;) according to which</FONT></FONT></TD></TR></TABLE>

<DIV>____________________</DIV>
<BR>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">



<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>3</SUP></FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top; width: 100%">



   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note: </FONT></B><I><FONT size=2 face="Times New Roman">Number of issued shares TBD on date of publication of offer document.</FONT></I></P></TD></TR>


</TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">26|38</FONT></P>

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<BR>


<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">a loss equaling half of the share capital within the meaning of Section 92 para. 1 AktG has been suffered; or</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">an insolvency proceeding has been instituted against the assets of AKASOL or the management board of AKASOL AG has applied for the institution of such proceeding; or</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">a reason has arisen that would necessitate the filing of an application for the institution of an insolvency proceeding.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"><FONT size=2 face="Times New Roman">12.1.7</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"><U>No market material adverse change</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, neither of the following events has occurred:</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a trading suspension specifically related to the ABBA Shares of more than five consecutive trading days at the Frankfurt Stock Exchange (excluding any general suspension of trading); or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">the closing quote of SDAX (ISIN DE0009653386) in the XETRA trading system of Deutsche B&#246;rse AG, as determined by Deutsche B&#246;rse AG, or a successor thereof, and published on its website (www.deutsche-boerse.com), on more than three consecutive trading days is more than 30% below the closing quote of SDAX as at the last trading day preceding the day of the publication of the decision to launch the Offer pursuant to Section 10 para. 1 sentence 1 Wp&#220;G, i.e., below a SDAX threshold level of [&#9679;]<SUP>4</SUP> points.</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"><FONT  size=2 face="Times New Roman">12.1.8</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><U><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">No target material adverse change</FONT></FONT></U></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT  size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, none of the following events shall have occurred:</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">AKASOL has notified or should have notified the Bidder that AKASOL&#8217;s cumulative order value of framework agreements and call-off agreements agreed with customers (&#8220;<STRONG>Order Backlog</STRONG>&#8221;), determined using the same methodology used to determine the Order Backlog disclosed on page 3 of AKASOL&#8217;s Half Year Financial Report 2020, has fallen below EUR 1.75 billion;</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">(b)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">AKASOL has published any notification pursuant to Article 17 of the Market Abuse Regulation; or</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">circumstances have occurred that would have had to be published by AKASOL pursuant to article 17 para. 1 of the Market Abuse Regulation or where AKASOL decided to delay the publication pursuant to article 17 para. 4 of the Market Abuse Regulation,</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">following in the case of each of clauses (b) and (c) the occurrence of any circumstance (isolated incident) which has had or could reasonably be expected to have a negative impact on AKASOL's unadjusted EBITDA for the financial year 2021 in the amount of at least EUR 15 million (together with the occurrence described in clause (a), each a &#8220;<STRONG>Target Material Ad hoc Obligatory Adverse Change</STRONG>&#8221;). AKASOL&#8217;s unadjusted EBITDA shall be determined in accordance with the same principles as applied in AKASOL&#8217;s [2019] [<STRONG>Note:</STRONG> <EM>If by publication of the offer document the financial accounts 2020 have been published, 2019 should be replaced by 2020</EM>] financial statements.</FONT></FONT></P>

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">Whether during the Acceptance Period a Target Material Ad hoc Obligatory Adverse Change has occurred shall be determined exclusively by an expert opinion of [&#9679; &#8211; <STRONG>Note:</STRONG> <i>Auditor TBD </i></FONT></FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>by BW/BidCo following signing of BCA</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">] as independent expert (&#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Independent Expert</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8220;) applying careful commercial consideration and as set out in Section 12.2.</FONT></P></TD></TR></TABLE>

<DIV>____________________</DIV>
<BR>

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<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>4</SUP></FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top; width: 100%">



   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note: </FONT></B><I><FONT size=2 face="Times New Roman">Threshold TBD following section 10 announcement.</FONT></I></P></TD></TR>


</TABLE>

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<!-- Part 07 -->
<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
 <BR>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; line-height: normal; border-collapse: collapse">
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If (i) the Independent Expert confirms that a Target Material Ad hoc Obligatory Adverse Change has occurred during the Acceptance Period, (ii) the expert opinion of the Independent Expert has been received by the Bidder prior to the expiry of the Acceptance Period, and (iii) the Bidder at the latest until the date of the publication pursuant to Section 23 para. 1 sentence 1 number 2 Wp&#220;G has published the receipt and result of the expert opinion of the Independent Expert, the Offer Condition as set out in this Section 12.1.8 shall be deemed not fulfilled. In all other cases, the Offer Condition as set out in this Section 12.1.8 shall be deemed fulfilled.</FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
     <TD STYLE="vertical-align: top; width: 1%"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
     <TD STYLE="vertical-align: top; width: 98%"></TD></TR>
<TR>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">12.1.9</FONT></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U>No Material Compliance Violation</U></FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U></U></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, no criminal offence or administrative offence (</FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>Ordnungswidrigkeiten</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">), be it an offense under German criminal or administrative law or other applicable laws, in particular bribery offenses and corruption, embezzlement, anti-trust violations or money laundering, by a member of the governing body or an officer of AKASOL or a subsidiary of AKASOL while any of these persons was operating in their official capacity at AKASOL or a subsidiary of AKASOL, is known to have occurred, provided that any such infringement or criminal or administrative offense (i) constitutes inside information for AKASOL pursuant to Article 7 of the Market Abuse Regulation or (ii) has constituted inside information prior to its publication (&#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Material Compliance Violation</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8221;).</FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Whether during the Acceptance Period a Material Compliance Violation has occurred shall be determined exclusively by the Independent Expert as set out in Section 12.2.</FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If (i) the Independent Expert confirms that a Material Compliance Violation has occurred during the Acceptance Period, (ii) the expert opinion of the Independent Expert has been received by the Bidder prior to the expiry of the Acceptance Period, and (iii) the Bidder at the latest until the date of the publication pursuant to Section 23 para. 1 sentence 1 number 2 Wp&#220;G has published the receipt and result of the expert opinion of the Independent Expert, the Closing Condition as set out in this Section 12.1.9 shall be deemed not fulfilled. In all other cases, the Closing Condition as set out in this Section 12.1.9 shall be deemed fulfilled.</FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">12.1.10 </FONT></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U>Breach of Certain Covenants</U></FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U></U></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Prior to expiry of the Acceptance Period neither of the following events has occurred (either, a &#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Breach of Certain Covenants</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8221;): </FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">(a)</FONT></DIV></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Sven Schulz and Sven Schulz Group GmbH shall have failed to transfer and assign all intellectual property rights relating to the business of the AKASOL Group (including but not limited to patents, trademarks as well as copyrights) and applications for registration of intellectual property rights that are owned or held by Sven Schulz or Sven Schulz Group GmbH rather than by the AKASOL Group to AKASOL with effect from the Offer Completion.</FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD>
     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">(b)</FONT></DIV></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Any member of the AKASOL Group shall have, without the approval of BorgWarner whose consent shall be deemed granted unless BorgWarner objects to a respective request by AKASOL addressed to Demetri Samohin by email at </FONT><FONT style="font-size: 10pt" face="Times New Roman">dsamohin@borgwarner.com</FONT><FONT style="font-size: 10pt" face="Times New Roman">, with a copy to Tonit Calaway by email at tcalaway@borgwarner.com, within five (5) Business Days from receipt of such request, incurred, assumed or guaranteed any indebtedness for borrowed money, except for (i) borrowings under credit or loan agreements existing and not yet drawn at the Effective Date, which shall not exceed EUR 25 million in the aggregate for the&nbsp;AKASOL Group, (ii) guarantees and factorings not to exceed EUR 10 million in the aggregate for the AKASOL Group, and (iii) indebtedness among AKASOL and any other member of the AKASOL Group.</FONT></DIV></TD></TR></TABLE>

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<TR>
   <TD vAlign=top width="1%">
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></DIV></DIV></TD>
   <TD vAlign=top width="99%">
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U></U></FONT></DIV>
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Whether during the Acceptance Period a Breach of Certain Covenants has occurred shall be determined exclusively by the Independent Expert as set out in Section 12.2.</FONT></DIV></DIV></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If (i) the Independent Expert confirms that a Breach of Certain Covenants has occurred during the Acceptance Period, (ii) the expert opinion of the Independent Expert has been received by the Bidder prior to the expiry of the Acceptance Period, and (iii) the Bidder at the latest until the date of the publication pursuant to Section 23 para. 1 sentence 1 number 2 Wp&#220;G has published the receipt and result of the expert opinion of the Independent Expert, the Offer Condition as set out in this Section 12.1.10 shall be deemed not fulfilled. In all other cases, the Offer Condition as set out in this Section 12.1.10 shall be deemed fulfilled.</FONT></DIV></DIV></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>12.2</B></FONT></DIV></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>Independent Expert</B></FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 10pt" face="Times New Roman">12.2.1 </FONT></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">The Independent Expert shall only act upon request by the Bidder. The Bidder shall publish, without undue delay (</FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>unverz&#252;glich</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">) and with reference to this Offer, the commencement of the procedure to determine whether a Target Material Ad hoc Obligatory Adverse Change, a Material Compliance Violation and/or a Breach of Certain Covenants has occurred during the Acceptance Period in the German Federal Gazette and on the internet at http://www.abba-offer.com. In case the Bidder receives an expert opinion of the Independent Expert prior to the expiry of the Acceptance Period which states that during the Acceptance Period a Target Material Ad hoc Obligatory Adverse Change, a Material Compliance Violation and/or a Breach of Certain Covenants has occurred, the Bidder is obliged to publish the fact that it has received such expert opinion and the result of such expert opinion, without undue delay, and in any case on or prior to the date of the publication pursuant to Section 23 para 1 sentence 1 no. 2 Wp&#220;G, and with reference to this Offer, in the German Federal Gazette and on the internet at http://www.abba-offer.com. The expert opinion of the Independent Expert shall be binding and final upon the Bidder and the accepting AKASOL Shareholders. The costs and disbursements of the Independent Expert shall be borne by the Bidder.</FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp; </TD></TR>
<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 10pt" face="Times New Roman"><B>12.3 </B></FONT></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>Nonfulfillment of the Offer Conditions; Waiver of Offer Conditions</B></FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">The Offer Conditions set out in Sections 12.1.1 through 12.1.10 of this Offer Document shall each constitute independent and separable conditions. The Bidder may waive all or individual Offer Conditions in advance &#8211; to the extent permissible &#8211; pursuant to Section 21 para. 1 sentence 1 no. 4 Wp&#220;G as long as such Offer Conditions have not ultimately lapsed.</FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">A waiver is equivalent to the fulfilment of the relevant Offer Condition. If the Bidder waives any of the Offer Conditions within the last two weeks prior to expiry of the Acceptance Period, the Acceptance Period will be extended by two weeks (Section 21 para. 5 Wp&#220;G), </FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>i.e., </I></FONT><FONT style="font-size: 10pt" face="Times New Roman">until [</FONT><FONT style="font-size: 10pt" face="Times New Roman">&#9679;</FONT><FONT style="font-size: 10pt" face="Times New Roman">] 2021, 24:00 hrs (local time Frankfurt am Main) / 18:00 hrs (local time New York).</FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If the Offer Conditions set forth in Section 12.1 of this Offer Document either have not been satisfied on or prior to the applicable date or have definitively lapsed before these dates and the Bidder has not effectively waived them in advance, the Offer shall lapse. In this case, the contracts which come into existence as a result of accepting the Offer will cease to exist and will not be consummated (conditions subsequent); and delivered AKASOL Shares will be returned. The Settlement Agent (as defined in Section 13.1 of this Offer Document) will promptly, at the latest within four Banking Days after announcement of the expiry of the Offer, order the rebooking of the Tendered AKASOL Shares (ISIN [</FONT><FONT style="font-size: 10pt" face="Times New Roman">&#9679;</FONT><FONT style="font-size: 10pt" face="Times New Roman">]) to ISIN DE000A2JNWZ9 by the Custodian Banks (as defined in Section 13.2 of this Offer Document) through Clearstream Banking AG, Frankfurt am Main, Germany (&#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Clearstream</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8221;). The rebooking is generally free
    of costs and expenses of the Custodian Banks for the AKASOL Shareholders who hold their AKASOL Shares in a securities deposit account in the Federal Republic of Germany. Any foreign taxes or costs and fees of foreign Custodian Banks that do not have securities deposit account connections with Clearstream must, however, be paid by the respective AKASOL Shareholders.</FONT></DIV></TD></TR></TABLE>
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<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 10pt" face="Times New Roman"><B>12.4 </B></FONT></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>Publications concerning Offer Conditions</B></FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 12pt" face="Times New Roman"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">The Bidder will promptly announce on the internet at http://www.abba-offer.com (in German and in an English translation) and in the Federal Gazette (</FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>Bundesanzeiger</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">) if (i) an Offer Condition has been effectively waived in advance, (ii) an Offer Condition has been fulfilled, (iii) all Offer Conditions have either been fulfilled or have been effectively waived in advance or (iv) the Offer is not consummated because an Offer Condition has finally not been fulfilled or lapsed. Likewise, the Bidder will promptly announce at the end of the Acceptance Period, as part of the publication according to Section 23 para. 1 no. 2 Wp&#220;G, which of the Offer Conditions of Section 12.1 of this Offer Document have been fulfilled by such time.</FONT></DIV></TD></TR></TABLE>


 </DIV>
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<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Sven Schulz</FONT></P>

<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Schedule 4.2(c) Related-Party Agreements</FONT></B></P>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">31|38</FONT></P>

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<!-- part 07 -->
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<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Sven Schulz</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Times New Roman">Schedule 4.2(d) Shareholder IP</FONT></B></P>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">32|38</FONT></P>

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<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Sven Schulz</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Times New Roman">Schedule 18.6 Draft Arbitration Agreement</FONT></B></P>

<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">ARBITRATION AGREEMENT </FONT></B><FONT size=2 face="Times New Roman"></FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">among</FONT></P>

<TABLE style="LINE-HEIGHT: normal; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(1)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">Sven Schulz, born on 6 November 1975, residing at Wannental 21, 88131 Lindau (<EM><STRONG>S</STRONG></EM>)</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(2)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">Sven Schulz Group GmbH, a limited liability company (</FONT><FONT size=2 face="Times New Roman"><EM>Gesellschaft mit beschr&#228;nkter Haftung</EM>) incorporated under the laws of Germany, having its registered office at Ravensburg, Germany, and registered with the Local Court of Ulm under HRB 722493 (the <STRONG><EM>Shareholder</EM></STRONG>);</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(3)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG),, a stock corporation (</FONT><FONT size=2 face="Times New Roman"><EM>Aktiengesellschaft</EM>) incorporated under the laws of Germany, having its registered office at Frankfurt am Main, Germany, and registered with the Local Court of Frankfurt am Main, Germany under HRB121819 (the <STRONG><EM>Bidder</EM></STRONG>); and</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(4</FONT>)</TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">BorgWarner Inc, a corporation incorporated under the laws of the State of Delaware, United States of America, having its registered office at 3850 Hamlin&nbsp;Road, Auburn Hills, Michigan 48326, United States of America (<STRONG><EM>BW </EM></STRONG>and together with the Bidder the <STRONG><EM>Acquirors</EM></STRONG>)</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">(S, the Shareholder, Bidder and BW each a </FONT><B><I><FONT size=2 face="Times New Roman">Party </FONT></I></B><FONT size=2 face="Times New Roman">and together the </FONT><B><I><FONT size=2 face="Times New Roman">Parties</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></TD></TR>

<TR>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 100%; text-align: justify">&nbsp;&nbsp;&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 100%; text-align: justify"><B><FONT size=2 face="Times New Roman">PREAMBLE</FONT></B></TD></TR>

<TR>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 100%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(A)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">AKASOL AG is a stock corporation (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesellschaft</FONT></I><FONT size=2 face="Times New Roman">) incorporated under German law, having its registered office at Darmstadt, Germany, and registered with the commercial register of the Local Court of Darmstadt under HRB 97834 (the <STRONG><EM>Target</EM></STRONG>).</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(B)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">On 15 February 2021, the Parties entered into the &#8220;Agreement on the Irrevocable Undertaking&#8221; (the <STRONG><EM>Irrevocable Undertaking</EM></STRONG>), where the Bidder <EM>inter alia </EM>undertakes to make a voluntary public takeover offer within the meaning of Section 29 para. 1 of the German Securities Acquisition and Takeover Act (<EM>Wertpapiererwerbs- und &#220;bernahmegesetz</EM>) for the purchase of all shares issued by the Target (the <STRONG><EM>Offer</EM></STRONG>), the Shareholder, inter alia, undertakes to accept the Offer in respect of all shares the Shareholder holds in the Target and the Parties, inter alia, give explicit representations and warranties.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(C)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">The Parties intend to settle all disputes arising out of or in connection with the Irrevocable Undertaking by arbitration. To fulfil the formal requirements according to Section 1031 para. 5 sentence 1 of the German Civil Procedure Code (</FONT><I><FONT size=2 face="Times New Roman">Zivilprozessordnung</FONT></I><FONT size=2 face="Times New Roman">), the Parties enter into this separate arbitration agreement:</FONT></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">33|38</FONT></P>

<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Sven Schulz</FONT></P>

<TABLE style="LINE-HEIGHT: normal; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">All disputes arising out of or in connection with the Irrevocable Undertaking or its validity shall be finally settled in accordance with the Arbitration Rules of the German Arbitration Institute (DIS) without recourse to the ordinary courts of law. Claims of the Parties can be decided in a single arbitration (<EM>multi-party-arbitration</EM>). The arbitral tribunal shall be comprised of three members. The seat of the arbitration is Frankfurt am Main, Germany. The language of the arbitration shall be English. The rules of law applicable to the merits shall be the laws of Germany.</FONT></TD></TR>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">

   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: center"><I><FONT size=2 face="Times New Roman">[signatures on the following page]</FONT></I></TD></TR>
</TABLE>
<BR>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">34|38</FONT></P>

<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Sven Schulz</FONT></P>


<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 100%">



<TR vAlign=bottom>

   <TD STYLE="width: 60%; white-space: nowrap; text-align: left"></TD>

   <TD STYLE="width: 40%; white-space: nowrap; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ Sven Schulz</FONT>
</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Sven Schulz, Individually</FONT></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">35|38</FONT></P>
<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Sven Schulz</FONT></P>

<DIV align=right>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left" colspan=2><B><FONT size=2 face="Times New Roman">Schulz Group GmbH</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Sven Schulz

</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Sven Schulz
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Gesch&auml;ftsf&uuml;hrender Gesellschafter
</FONT></TD></TR>
</TABLE></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">36|38</FONT></P>
<HR align=center width="100%" noShade size="2">


<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Sven Schulz</FONT></P>
<DIV align=right>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR STYLE="vertical-align: bottom">
   <TD COLSPAN="2" STYLE="padding-right: 4pt; vertical-align: bottom; text-align: left"><B><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG)
</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Robert Boyle
</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Robert Boyle
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Member of the Management Board
</FONT></TD></TR>
</TABLE></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">37|38</FONT></P>
<HR align=center width="100%" noShade size="2">
<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Sven Schulz</FONT></P>


<DIV align=right>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left" colspan=2><B><FONT size=2 face="Times New Roman">BorgWarner Inc.

</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Tonit M. Calaway
</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Tonit M. Calaway
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Executive Vice President, Chief<BR>
Administrative Officer, General Counsel, and<BR>
Secretary
</FONT></TD></TR>
</TABLE></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">38|38</FONT></P>

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</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>borg3887841-ex103.htm
<DESCRIPTION>AGREEMENT ON THE IRREVOCABLE UNDERTAKING, DATED FEBRUARY 15, 2021, STEPHEN
<TEXT>

<HTML>
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   <TITLE></TITLE>
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<P style="TEXT-ALIGN: right"><B><FONT size=2 face="Times New Roman">Exhibit 10.3</FONT></B></P>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Stephen Raiser</FONT></P>

<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">AGREEMENT<BR>ON THE<BR>IRREVOCABLE UNDERTAKING</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">among</FONT></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(1)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Stephen Raiser, born on March 06, 1970, residing at Rettbergsaue 1, 65203 Wiesbaden, Germany (the </FONT><B><I><FONT size=2 face="Times New Roman">Shareholder</FONT></I></B><FONT size=2 face="Times New Roman">);</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(2)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG), a stock corporation (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesellschaft</FONT></I><FONT size=2 face="Times New Roman">) incorporated under the laws of Germany, having its registered office at Frankfurt am Main, Germany, and registered with the Local Court of Frankfurt am Main under no. HRB 121819 (the </FONT><B><I><FONT size=2 face="Times New Roman">Bidder</FONT></I></B><FONT size=2 face="Times New Roman">); and</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(3)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">BorgWarner Inc., a corporation incorporated under the laws of the State of Delaware, United States of America, having its registered office at 3850 Hamlin Road, Auburn Hills, Michigan 48326, United States of America (</FONT><B><I><FONT size=2 face="Times New Roman">BW </FONT></I></B><FONT size=2 face="Times New Roman">and together with the Bidder the </FONT><B><I><FONT size=2 face="Times New Roman">Acquirors</FONT></I></B><FONT size=2 face="Times New Roman">)</FONT></P>





   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">(the Shareholder, Bidder and BW each a </FONT><B><I><FONT size=2 face="Times New Roman">Party </FONT></I></B><FONT size=2 face="Times New Roman">and together the </FONT><B><I><FONT size=2 face="Times New Roman">Parties</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">PREAMBLE</FONT></B></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(A)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">AKASOL AG is a stock corporation (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesellschaft</FONT></I><FONT size=2 face="Times New Roman">) incorporated under the laws of Germany, having its registered office at Darmstadt, Germany, and registered with the commercial register of the Local Court of Darmstadt under HRB 97834 (the </FONT><B><I><FONT size=2 face="Times New Roman">Target</FONT></I></B><FONT size=2 face="Times New Roman">, and including its subsidiaries from time to time </FONT><B><I><FONT size=2 face="Times New Roman">Target Group</FONT></I></B><FONT size=2 face="Times New Roman">). The share capital (</FONT><I><FONT size=2 face="Times New Roman">Grundkapital</FONT></I><FONT size=2 face="Times New Roman">) of the Target amounts to EUR 6,061,856 and is divided into 6,061,856 non-par value bearer shares (</FONT><I><FONT size=2 face="Times New Roman">auf den Inhaber lautende St&#252;ckaktien</FONT></I><FONT size=2 face="Times New Roman">) with a proportionate amount of EUR 1.00 per share of the share capital (each a </FONT><B><I><FONT size=2 face="Times New Roman">Target Share </FONT></I></B><FONT size=2 face="Times New Roman">and collectively </FONT><B><I><FONT size=2 face="Times New Roman">Target Shares</FONT></I></B><FONT size=2 face="Times New Roman">). The Target Shares are admitted to trading on the regulated market (</FONT><I><FONT size=2 face="Times New Roman">Regulierter Markt</FONT></I><FONT size=2 face="Times New Roman">) with additional post-admission obligations (Prime Standard) of the Frankfurt Stock Exchange under ISIN DE000A2JNWZ9).</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(B)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder holds a total of 262,305 Target Shares (the </FONT><B><I><FONT size=2 face="Times New Roman">Shareholder</FONT></I></B><B><I><FONT size=2 face="Times New Roman">&#8217;</FONT></I></B><B><I><FONT size=2 face="Times New Roman">s Shares</FONT></I></B><FONT size=2 face="Times New Roman">). The Shareholder</FONT><FONT size=2 face="Times New Roman">&#8217;</FONT><FONT size=2 face="Times New Roman">s Shares represent approximately 4.32714 per cent of the issued and outstanding share capital of the Target as of the Effective Date (as defined in clause </FONT><FONT size=2 face="Times New Roman">1.1(a))</FONT><FONT size=2 face="Times New Roman"> and are held in a securities deposit with ING DiBa AG in Frankfurt, Germany, as confirmed by the deposit confirmation issued by ING DiBa AG and attached hereto as </FONT><B><U><FONT size=2 face="Times New Roman">Schedule B</FONT></U></B><FONT size=2 face="Times New Roman">.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(C)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Bidder, an indirectly wholly-owned subsidiary of BW, considers to make a voluntary public takeover offer within the meaning of Section 29 para. 1 of the German Securities Acquisition and Takeover Act (</FONT><I><FONT size=2 face="Times New Roman">Wertpapiererwerbs- und &#220;bernahmegesetz</FONT></I><FONT size=2 face="Times New Roman">, </FONT><B><I><FONT size=2 face="Times New Roman">Wp&#220;G</FONT></I></B><FONT size=2 face="Times New Roman">) for the purchase of all Target Shares against cash consideration per Target Share (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="99%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(D)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder intends to tender all Shareholder</FONT><FONT size=2 face="Times New Roman">&#8217;</FONT><FONT size=2 face="Times New Roman">s Shares into the Offer subject to the terms and conditions agreed herein.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">1|32</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Stephen Raiser</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Now, therefore, the Parties enter into this agreement on the acceptance of a potential public takeover offer (the </FONT><B><I><FONT size=2 face="Times New Roman">Agreement</FONT></I></B><FONT size=2 face="Times New Roman">):</FONT></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">1.</FONT></B></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Bidder</FONT></B><B><FONT size=2 face="Times New Roman">&#8217;s Obligations regarding the Offer</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">1.1</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Bidder hereby undertakes to</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">announce its intention to launch the Offer in accordance with Section 10 para. 1 sentence 1 and para. 3 sentence 1 Wp&#220;G immediately after execution of this Agreement (the </FONT><B><I><FONT size=2 face="Times New Roman">Effective Date</FONT></I></B><FONT size=2 face="Times New Roman">);</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="98%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">submit a formal offer document (</FONT><I><FONT size=2 face="Times New Roman">Angebotsunterlage</FONT></I><FONT size=2 face="Times New Roman">) describing the terms and conditions of the Offer (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer Document</FONT></I></B><FONT size=2 face="Times New Roman">) and which has been prepared in accordance with the Takeover Act and the German Regulation on the Content of the Offer Document, the Consideration for Takeover Offers and Mandatory Offers and the Release from the Obligation to Publish and Submit a Tender Offer (</FONT><B><I><FONT size=2 face="Times New Roman">Wp&#220;G-Angebotsverordnung</FONT></I></B><FONT size=2 face="Times New Roman">) to the German Federal Financial Supervisory Authority (</FONT><I><FONT size=2 face="Times New Roman">Bundesanstalt f&#252;r Finanzdienstleistungsaufsicht </FONT></I><I><FONT size=2 face="Times New Roman">&#8211; </FONT></I><B><I><FONT size=2 face="Times New Roman">BaFin</FONT></I></B><FONT size=2 face="Times New Roman">) for its review within the time period prescribed in Section 14 para. 1 Wp&#220;G and which shall have a maximum offer period (Section 16 para. 1 Wp&#220;G) of six (6) weeks and which reflects the terms and conditions of this Agreement, in particular as set forth in clauses </FONT><FONT size=2 face="Times New Roman">1.2</FONT><FONT size=2 face="Times New Roman"> and </FONT><FONT size=2 face="Times New Roman">1.3</FONT><FONT size=2 face="Times New Roman"> and shall otherwise correspond to the requirements set forth in the Business Combination Agreement executed on or about the date hereof between the Target and the Acquirors (</FONT><B><I><FONT size=2 face="Times New Roman">Business Combination Agreement</FONT></I></B><FONT size=2 face="Times New Roman">);</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">not apply for any extension of the notice period by the BaFin pursuant to Section 14 para. 1 sentence 3 Wp&#220;G, unless the Shareholder gives its prior written consent;</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="98%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">publish the Offer Document within the time period prescribed in Section 14 para. 2 Wp&#220;G, provided that the publication of the Offer Document is not prohibited by the BaFin; and</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="98%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(e)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">settle the Offer by payment of the Offer Price (as defined in clause 1.3) (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer Completion</FONT></I></B><FONT size=2 face="Times New Roman">) against simultaneous transfer of the tendered Target Shares without undue delay and in any event no later than seven (7) Business Days (meaning a day on which banks in Frankfurt am Main, Germany, are open for general commercial business), which obligation shall arise only after (i) the additional acceptance period within the meaning of Section 16 para. 2 Wp&#220;G has expired and (ii) all Offer Conditions have been satisfied or validly waived.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">1.2</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Offer Document shall only contain those conditions within the meaning of Section 18 para. 1 Wp&#220;G (</FONT><I><FONT size=2 face="Times New Roman">Angebotsbedingungen</FONT></I><FONT size=2 face="Times New Roman">) as set out in </FONT><B><U><FONT size=2 face="Times New Roman">Schedule 1.2</FONT></U></B><B><FONT size=2 face="Times New Roman">. </FONT></B><FONT size=2 face="Times New Roman">For the avoidance of doubt, the Offer Document shall not provide for a minimum acceptance threshold (</FONT><I><FONT size=2 face="Times New Roman">Mindestannahmeschwelle</FONT></I><FONT size=2 face="Times New Roman">) in excess of a number of Target Shares equal to the sum of 50% of the number of Target Shares issued plus one Target Share.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">2|32</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Stephen Raiser</FONT></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">1.3</FONT></TD>

   <TD vAlign=top width="100%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The consideration per share (</FONT><I><FONT size=2 face="Times New Roman">Gegenleistung</FONT></I><FONT size=2 face="Times New Roman">) to be offered to the shareholders of the Target in the Offer Document shall be in cash only and shall be at least EUR 120.00 per Target Share (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer Price</FONT></I></B><FONT size=2 face="Times New Roman">). For the avoidance of doubt, the Shareholder shall not be obliged to accept the Offer if the consideration per share in the Offer Document is below the Offer Price. In the event of (x) any subsequent voluntary increases of the Offer Price or (y) any mandatory increases of the Offer Price pursuant to Section 31 para. 1, 4 through 7 Wp&#220;G and Sections 3 to 5 Wp&#220;G-Angebotsverordnung, the Shareholder hereby irrevocably waives its right to receive any consideration exceeding the Offer Price and shall be obligated to pay back to the Bidder within four (4) Business Days after the Offer Com</FONT><FONT size=2 face="Times New Roman">pletion, with respect to each of Shareholder&#8217;s Shares, an </FONT><FONT size=2 face="Times New Roman">amount equal to the difference between the initial Offer Price of EUR 120.00 per Target Share and the increased offer price paid by the Bidder at the Offer Completion.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="100%" colSpan=2 align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">1.4</FONT></TD>

   <TD vAlign=top width="100%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">BW hereby guarantees by way of an independent promise of guarantee (</FONT><I><FONT size=2 face="Times New Roman">selbst&#228;ndiges Garantieversprechen</FONT></I><FONT size=2 face="Times New Roman">) within the meaning of Section 311 para. 1 German Civil Code (</FONT><I><FONT size=2 face="Times New Roman">B&#252;rgerliches Gesetzbuch</FONT></I><FONT size=2 face="Times New Roman">, </FONT><B><I><FONT size=2 face="Times New Roman">BGB</FONT></I></B><FONT size=2 face="Times New Roman">) that the Bidder will be in position to finance the settlement of the Offer and that a securities services enterprise independent from the Acquirors and their affiliates within the meaning of Section 15 German Stock Corporation Act (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesetz) (</FONT></I><B><I><FONT size=2 face="Times New Roman">Affliliates</FONT></I></B><FONT size=2 face="Times New Roman">) will issue a financing confirmation in accordance with Section 13 Wp&#220;G (the </FONT><B><I><FONT size=2 face="Times New Roman">Financing Confirmation</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="100%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">2.</FONT></B></TD>

   <TD vAlign=top width="100%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Shareholder</FONT></B><B><FONT size=2 face="Times New Roman">&#8217;</FONT></B><B><FONT size=2 face="Times New Roman">s Obligations regarding the Acceptance of the Offer</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="100%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">2.1</FONT></TD>

   <TD vAlign=top width="100%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Subject to the Offer Document having been published and fulfilling the requirements set forth in clause </FONT><FONT size=2 face="Times New Roman">1.1(b),</FONT><FONT size=2 face="Times New Roman"> the Shareholder hereby undertakes:</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="100%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">to accept the Offer in respect of all </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s Shares </FONT><FONT size=2 face="Times New Roman">pursuant to the terms and provisions of the Offer Document no later than within three (3) </FONT><B><I><FONT size=2 face="Times New Roman">Business Days </FONT></I></B><FONT size=2 face="Times New Roman">(i.e. days on which banks are open for business in Frankfurt am Main) after commencement of the acceptance period pursuant to Section 16 para. 1 Wp&#220;G;</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">not to challenge (</FONT><I><FONT size=2 face="Times New Roman">anfechten</FONT></I><FONT size=2 face="Times New Roman">) or withdraw from (</FONT><I><FONT size=2 face="Times New Roman">zur&#252;cktreten</FONT></I><FONT size=2 face="Times New Roman">) any such acceptance, including pursuant to Section 21 para. 4 Wp&#220;G and Section 22 para. 3 Wp&#220;G, and thereby to waive any withdrawal that may exist under the Wp&#220;G or other legislation with regard to the agreements resulting from acceptance of the Offer; however, should the Bidder increase the Offer, the Shareholder shall be entitled to withdraw from the Offer pursuant to section 21 para. 4 Wp&#220;G; in such case, the Shareholder undertakes to accept the Bidder&#180;s increased Offer immediately after the withdrawal but at the latest three (3) Business Days after the publication of the amendment to the Offer; and</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">to the extent legally permissible, to abstain from any act which should reasonably be expected to materially jeopardize or adversely affect the success of the Offer (in particular the satisfaction of the offer conditions pursuant to clause 1.2).</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">3|32</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Stephen Raiser</FONT></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">2.2</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">For the avoidance of doubt, the Parties confirm that this Agreement does not constitute a sale and purchase and/or transfer agreement and/or option agreement for the </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s Shares</FONT><FONT size=2 face="Times New Roman">, which shall exclusively be executed under the terms of the Offer Document.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">2.3</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder shall immediately notify the Acquirors after the Shareholder accepts the Offer in accordance with clause 2.1.(a).</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">2.4</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">With regard to the undertaking pursuant to clause </FONT><FONT size=2 face="Times New Roman">2.1(a)</FONT><FONT size=2 face="Times New Roman"> and the acceptance of the Offer, no consent according to Section 1365 BGB by Shareholder</FONT><FONT size=2 face="Times New Roman">&#8217;</FONT><FONT size=2 face="Times New Roman">s spouse is required</FONT><B><FONT size=2 face="Times New Roman">.</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="99%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">3.</FONT></B></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Lock up, Standstill, Non-compete</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">3.1</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">From the Effective Date until the earlier of (i) Offer Completion and (ii) the termination of this Agreement in accordance with its terms, the Shareholder shall not sell, transfer, charge, encumber, grant any option over or otherwise dispose of any interest in any of the </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s </FONT><FONT size=2 face="Times New Roman">Shares, other than pursuant to its acceptance of the Offer or of an increased or otherwise revised Offer.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">3.2</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">From the Effective Date until the earlier of (i) Offer Completion and (ii) three (3) months following the termination of this Agreement in accordance with its terms, the Shareholder shall not buy or acquire any Target Shares or shares in its subsidiaries or any specific financial instruments relating to such shares, unless BW gives its prior written consent.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">3.3</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">For a period of two (2) years from the date of Offer Completion, the Shareholder shall not, and shall procure that none of its respective Affiliates, directly or indirectly, develop, manufacture, market, sell or distribute products which are of the same kind as products developed, manufactured, marketed, sold or distributed (or are in an advanced stage for sale or distribution) by the Target or its Affiliates at the date of Offer Completion including improved versions or updates as well as successor models, and including, furthermore, products which are fully developed but not yet marketed (together </FONT><B><I><FONT size=2 face="Times New Roman">Relevant Products</FONT></I></B><FONT size=2 face="Times New Roman">). The Shareholder shall not, and shall procure that none of its respective Affiliates will, directly or indirectly, hold or acquire any shares or interests in a company which develops, manufactures, markets, sells or distributes Relevant Products, unless the shares or interests are acquired or held purely for financial investment purposes and do not grant the acquirer, directly or indirectly, management functions or any material influence in the competing company.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="99%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">3.4</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Clause 3.3 applies only to the territorial area in which the Company or its Affiliates carry out business activities at the time of Offer Completion or territorial areas where the Company or its Affiliates were planning to enter at such time, provided they already made investments or otherwise incurred expenses in relation to the entry into the relevant territorial area. The Parties are in agreement that any entitlement that the Shareholder may have to a non-compete compensation shall be settled by the purchase price.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">4|32</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Stephen Raiser</FONT></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">4.</FONT></B></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Representations and Warranties by the Shareholder; Remedies</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">4.1</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Shareholder&#8217;s </FONT><FONT size=2 face="Times New Roman">Guarantees</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder hereby guarantees to the Acquirors by way of an independent promise of guarantee (</FONT><I><FONT size=2 face="Times New Roman">selbst&#228;ndiges Garantieversprechen</FONT></I><FONT size=2 face="Times New Roman">) within the meaning of Section 311 para. 1 BGB that as of the Effective Date the statements made below are, and as of the date of the Offer Completion will continue to be, true, complete and not misleading:</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">No bankruptcy, insolvency or similar proceedings in any jurisdiction have been commenced or applied for with respect to the Shareholder and the Shareholder is not unable to pay its due debts (</FONT><I><FONT size=2 face="Times New Roman">zahlungsunf&#228;hig</FONT></I><FONT size=2 face="Times New Roman">) or for other reasons compelled to apply for the commencement of bankruptcy, insolvency or similar proceedings under applicable law. To the Knowledge of the Shareholder (as defined in clause 4.2), as of the Effective Date, no bankruptcy, insolvency or similar filings have been threatened in writing with respect to the Shareholder.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The information contained in Preamble (B) is correct and not misleading.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder is the sole legal and beneficial owner of the Share</FONT><FONT size=2 face="Times New Roman">holder&#8217;s Shares.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s Shares </FONT><FONT size=2 face="Times New Roman">have been fully paid up and no contributions have been returned (</FONT><I><FONT size=2 face="Times New Roman">Einlagenr&#252;ckgew&#228;hr</FONT></I><FONT size=2 face="Times New Roman">) in respect thereof.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(e)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder is entitled to freely dispose of the Shareholder</FONT><FONT size=2 face="Times New Roman">&#8217;s </FONT><FONT size=2 face="Times New Roman">Shares subject only to restrictions under applicable law (including merger control and other regulatory laws). The </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s </FONT><FONT size=2 face="Times New Roman">Shares are (i) free of any rights of third parties, including but not limited to liens, charges and other encumbrances (</FONT><I><FONT size=2 face="Times New Roman">dingliche Belastungen</FONT></I><FONT size=2 face="Times New Roman">), except for security interest of Clearstream Banking AG and/or the Shareholders depositary bank (if any), and (ii) not subject to any options, pre-emption rights, rights of first refusal or similar rights of third parties.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(f)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s </FONT><FONT size=2 face="Times New Roman">Shares are held by the Shareholder for its own risk and account and are not subject to any shareholders</FONT><FONT size=2 face="Times New Roman">&#8217; </FONT><FONT size=2 face="Times New Roman">voting, trust, pooling, consultation or similar agreements or arrangements.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(g)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">As of the Signing Date, the Shareholder&#8217;s entering into this Agreement </FONT><FONT size=2 face="Times New Roman">and </FONT><FONT size=2 face="Times New Roman">the performance of the Shareholder&#8217;s respective obligations hereun</FONT><FONT size=2 face="Times New Roman">der neither require any approval or consent by any court, governmental authority or other third party (except for approvals or consents which are Offer Conditions) nor violate any judicial or governmental order or decree or any applicable law.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(h)</FONT></TD>

   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">To the Knowledge of the Shareholder, on the Effective Date
   and on the date of Offer Completion, all notice and disclosure duties of the Shareholder under Section 20, 21 of the AktG,
   Section 33 et seq. of the Securities Trading Act (</FONT><I><FONT size=2 face="Times New Roman">Wertpapierhandelsgesetz,
   WpHG</FONT></I><FONT size=2 face="Times New Roman">)), if applicable and as amended from time to time, have always been
discharged in a timely and proper manner.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">5|32</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Stephen Raiser</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: normal; border-collapse: collapse; width: 100%">

<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">(i)</FONT></TD>
   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: left; text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Except for the </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s existing </FONT><FONT size=2 face="Times New Roman">employment agreement entered into between the Target and the Shareholder, there are no agreements between (i) the Target Group on the one hand and (ii) the Shareholder and/or their respective Affiliates, any person close (</FONT><I><FONT size=2 face="Times New Roman">nahestehend</FONT></I><FONT size=2 face="Times New Roman">) to the Shareholder and/or their respective Affiliates or any of their direct or indirect shareholders within the meaning of IAS 24 or affiliated companies within the meaning of section 15 </FONT><I><FONT size=2 face="Times New Roman">et. seq</FONT></I><FONT size=2 face="Times New Roman">. of the AktG of such persons (the persons under this clause 4.2(d)(ii) collectively the </FONT><B><I><FONT size=2 face="Times New Roman">Related Persons</FONT></I></B><FONT size=2 face="Times New Roman">) on the other hand (collectively the </FONT><B><I><FONT size=2 face="Times New Roman">Related Persons Agreements</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: left; text-align: justify">


   </TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">(j)</FONT></TD>
   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: left; text-align: justify">

   <P STYLE="text-align: justify"><B><U><FONT size=2 face="Times New Roman">Schedule 4.1(j)</FONT></U></B><FONT size=2 face="Times New Roman"> contains a complete and correct list of all intellectual property rights relating to the business of the Target Group (including but not limited to patents, trademarks as well as copyrights) and applications for registration of intellectual property rights that are owned or held by the Shareholder rather than by the Target Group (collectively the </FONT><B><I><FONT size=2 face="Times New Roman">Shareholder IP</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: left; text-align: justify">


   </TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">4.2</FONT></TD>
   <TD COLSPAN="3" STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">Knowledge of Shareholder</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD COLSPAN="3" STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD COLSPAN="3" STYLE="vertical-align: top; text-align: left">

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">In this Agreement, the Shareholder shall be deemed to have had Knowledge of the Shareholder if, as of the Effective Date, the Shareholder had actual knowledge (</FONT><I><FONT size=2 face="Times New Roman">positive Kenntnis</FONT></I><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD COLSPAN="3" STYLE="vertical-align: top; text-align: left">

   </TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">4.3</FONT></TD>
   <TD COLSPAN="3" STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">No Further Representations</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD COLSPAN="3" STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD COLSPAN="3" STYLE="vertical-align: top; text-align: left">

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder makes no representations and warranties or guarantees other than those expressly and conclusively set forth in clause 4.1. The Parties agree that the statements contained in clause 4.1 shall not constitute a quality guarantee concerning the purchase object within the meanings of Sections 443 and 444 of the German Civil Code (</FONT><I><FONT size=2 face="Times New Roman">BGB</FONT></I><FONT size=2 face="Times New Roman">) (</FONT><I><FONT size=2 face="Times New Roman">keine Garantie f&#252;r die Beschaffenheit oder Haltbarkeit des Kaufgegenstandes</FONT></I><FONT size=2 face="Times New Roman">)</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
   <TD COLSPAN="3" STYLE="vertical-align: top; text-align: left">

   </TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">4.4</FONT></TD>
   <TD COLSPAN="3" STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">Remedies</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD COLSPAN="3" STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: left; text-align: justify"><FONT size=2 face="Times New Roman">If the Shareholder is in breach of any its guarantees set forth in clause 4.1 or is otherwise in breach of its obligations under this Agreement, the Shareholder shall, at his discretion, either</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD COLSPAN="2" STYLE="vertical-align: top; text-align: left; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; width: 1%; text-align: left"></TD>
   <TD STYLE="vertical-align: top; width: 1%; text-align: left; text-align: justify"><FONT size=2 face="Times New Roman">(i)</FONT></TD>
   <TD STYLE="vertical-align: top; width: 97%; text-align: left; text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">no later than twenty (20) Business Days after being notified by BW of such breach in writing, put the Acquirors in such position it would have been in without such breach (restitution in kind </FONT><FONT size=2 face="Times New Roman">&#8211; </FONT><I><FONT size=2 face="Times New Roman">Naturalrestitution</FONT></I><FONT size=2 face="Times New Roman">) or</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: left; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left; text-align: justify">

   </TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: left; text-align: justify"><FONT size=2 face="Times New Roman">(ii)</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: left; text-align: justify"><FONT size=2 face="Times New Roman">if and to the extent such restitution in kind is impossible or the Shareholder refuses such restitution or if such restitution is not achieved within twenty (20) Business Days after the Shareholder having been notified of such breach, pay to Bidder (as reduction of the Offer Consideration) monetary damages (</FONT><I><FONT size=2 face="Times New Roman">positives Interesse</FONT></I><FONT size=2 face="Times New Roman">), within the meaning of Section 249 et seq. BGB, arising out of such breach, including any foreseeable consequential or indirect damages (</FONT><I><FONT size=2 face="Times New Roman">vorhersehbare Folgesch&#228;den oder vorherseebare mittelbare Sch&#228;den</FONT></I><FONT size=2 face="Times New Roman">), however, excluding (i) any lost profits (Section 252 BGB), (ii) any internal administration or overhead costs and (iii) taxes or similar charges on indemnification payments.</FONT></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">6|32</FONT></P>
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<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Stephen Raiser</FONT></P>


<TABLE style="LINE-HEIGHT:normal; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD WIDTH="1%" STYLE="text-align: left; vertical-align: top"><FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD STYLE="vertical-align: top; width: 98%; text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The aggregate liability of the Shareholder under this Agreement for breaches of the </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s </FONT><FONT size=2 face="Times New Roman">guarantees in clauses 4.1(f) through </FONT><FONT size=2 face="Times New Roman">4.1(j)</FONT><FONT size=2 face="Times New Roman"> shall be limited to twenty-five per cent (25%) of the Offer Price multiplied by the nu</FONT><FONT size=2 face="Times New Roman">mber of Shareholder&#8217;s Shares actually paid to the Share</FONT><FONT size=2 face="Times New Roman">holder upon acceptance of the Offer. The aggregate liability of the </FONT><FONT size=2 face="Times New Roman">Shareholder under this Agreement for breaches of the Shareholder&#8217;s </FONT><FONT size=2 face="Times New Roman">guarantees in clauses 4.1(a) through 4.1(e) shall be limited to one hundred percent (100%) of the Offer Price multiplied by the number of Sh</FONT><FONT size=2 face="Times New Roman">areholder&#8217;s Shares actually paid to the Shareholder upon acceptance </FONT><FONT size=2 face="Times New Roman">of the Offer. Furthermore, the aggregate liability of the Shareholder for any breaches under this Agreement collectively shall be limited to one hundred percent (100%) of the Offer Price multiplied by the number of </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s Shares actually paid to the Shareholder upon acceptance </FONT><FONT size=2 face="Times New Roman">of the Offer.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD WIDTH="1%" STYLE="text-align: left; vertical-align: top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="vertical-align: top; width: 98%; text-align: justify">

   </TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD WIDTH="1%" STYLE="text-align: left; vertical-align: top"><FONT size=2 face="Times New Roman">(c)</FONT></TD>
   <TD STYLE="vertical-align: top; width: 98%; text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Parties agree that the rights and remedies which the Acquirors may have with respect to a breach by the Shareholder of its obligations under this Agreement are limited to the rights and remedies specified in this clause </FONT><FONT size=2 face="Times New Roman">4.4</FONT><FONT size=2 face="Times New Roman">. Subject to the preceding sentence, with respect to the subject matter of this Agreement, any all and all rights and remedies of any legal nature (other than the rights and claims expressly set forth in this Agreement) of the Acquirors against the Shareholder shall be be expressly excluded.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD WIDTH="1%" STYLE="text-align: left; vertical-align: top"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
   <TD STYLE="vertical-align: top; width: 98%; text-align: justify">

   </TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD WIDTH="1%" STYLE="text-align: left; vertical-align: top"><FONT size=2 face="Times New Roman">(d)</FONT></TD>
   <TD STYLE="vertical-align: top; width: 98%; text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The limitations set forth in this clause </FONT><FONT size=2 face="Times New Roman">4.4</FONT><FONT size=2 face="Times New Roman"> shall not apply in case of fraud (</FONT><I><FONT size=2 face="Times New Roman">arglistige T&#228;uschung</FONT></I><FONT size=2 face="Times New Roman">) or wilful misconduct (</FONT><I><FONT size=2 face="Times New Roman">Vorsatz</FONT></I><FONT size=2 face="Times New Roman">) of the Shareholder.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD WIDTH="1%" STYLE="text-align: left; vertical-align: top"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
   <TD STYLE="vertical-align: top; width: 98%; text-align: justify">

   </TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">5.</FONT></B></TD>
   <TD vAlign=top width="99%" colSpan=2 align=left><B><FONT size=2 face="Times New Roman">Representations and Warranties by the Acquirors; Remedies</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="99%" colSpan=2 align=left><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">5.1</FONT></TD>
   <TD vAlign=top width="99%" colSpan=2 align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Acquiror</FONT><FONT size=2 face="Times New Roman">s&#8217; Guarantees</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD vAlign=top width="99%" colSpan=2 align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Acquirors hereby guarantee to the Shareholder by way of an independent promise of guarantee (</FONT><I><FONT size=2 face="Times New Roman">selbst&#228;ndiges Garantieversprechen</FONT></I><FONT size=2 face="Times New Roman">) within the meaning of Section 311 para. 1 BGB that as of the Effective Date the statements made below are, and as of the date of the Offer Completion will continue to be, true, complete and not misleading:</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD WIDTH="1%" NOWRAP STYLE="text-align: left; vertical-align: top"><FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD STYLE="width: 98%; text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Bidder is a stock corporation (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesellschaft</FONT></I><FONT size=2 face="Times New Roman">), duly incorporated and existing under the laws of Germany, duly represented by its board of directors. BW is a corporation incorporated under the laws of the State of Delaware, United States of America and duly represented by its board of directors. BW, indirectly through BorgWarner US Holding LLC, a corporation incorporated under the laws of the State of Delaware, United States of America, having its registered office at 3850 Hamlin Road, Auburn Hills, Michigan 48326, United States of America, has unrestricted ownership of all shares in the Bidder.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">7|32</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Stephen Raiser</FONT></P>

<TABLE style="LINE-HEIGHT:normal; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD vAlign=top width="98%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">No bankruptcy, insolvency or similar proceedings in any jurisdiction have been commenced or applied for with respect to either of the Acquirors and neither of the Acquirors is over-indebted (</FONT><I><FONT size=2 face="Times New Roman">&#252;berschuldet</FONT></I><FONT size=2 face="Times New Roman">) or unable to pay its due debts (</FONT><I><FONT size=2 face="Times New Roman">zahlungsunf&#228;hig</FONT></I><FONT size=2 face="Times New Roman">) or for other reasons compelled to apply for the commencement of bankruptcy, insolvency or similar proceedings under applicable law. To the Knowledge of either of the Acquirors (as defined in clause 5.2), as of the Effective Date, no bankruptcy, insolvency or similar filings have been threatened in writing with respect to either of the Acquirors.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="98%" align=left>

   </TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">(c)</FONT></TD>
   <TD VALIGN="TOP" WIDTH="98%" ALIGN="LEFT" STYLE="text-align: justify">


   <FONT size=2 face="Times New Roman">Both of the Acquirors have full authority and capacity to enter into and perform their respective obligations under this Irrevocable, including the consummation of the Offer. The Acquirors' entering into this Agreement and the performance of the Acquirors' respective obligations hereunder do not violate the articles of association (or similar document) or bylaws of either of the Acquirors and have been duly authorized by all necessary corporate actions on the part of each of the Acquirors. As of the Signing Date, the Acquirors' entering into this Agreement and the performance of the Acquirors' respective obligations hereunder neither require any approval or consent by any court, governmental authority or other third party (except for approvals or consents which are Offer Conditions) or violate any judicial or governmental order or decree or any applicable law.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="98%" align=left>


   </TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">(d)</FONT></TD>
   <TD vAlign=top width="98%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Acquirors have complied in all material respects with all capital market laws and regulations in Germany and the United States of America applicable to any transaction contemplated by this Agreement including, but not limited to, notification requirements, insider trading and market manipulation rules. None of the Acquirors, any Affiliate of either of the Acquirors, or any entity acting collectively with the Acquirors within the meaning of Section 2 para. 5 Wp&#220;G has before the signing of this Agreement acquired or agreed to acquire or will acquire within a period that will be relevant under the minimum pricing rules pursuant to Section 31 Wp&#220;G and Section 3 et seq. of the Takeover Regulation (</FONT><I><FONT size=2 face="Times New Roman">Wp&#220;G-Angebotsverordnung</FONT></I><FONT size=2 face="Times New Roman">) any Target Shares for a consideration per share exceeding the Offer Price.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
   <TD vAlign=top width="98%" align=left>


   </TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">(e)</FONT></TD>
   <TD vAlign=top width="98%" align=left>


   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Bidder is acquiring the </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s </FONT><FONT size=2 face="Times New Roman">Shares for its own account as well as for investment and not with a view to any sale, distribution or other disposal thereof. Neither of the Acquirors is acting in the interest or for the account of any unaffiliated third party. BW has no intention to sell, distribute other otherwise dispose of any shares held in the Bidder to an entity outside its group.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">8|32</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Stephen Raiser</FONT></P>

<TABLE style="LINE-HEIGHT:normal; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">5.2</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Knowledge of the Acquirors</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">In this Agreement, the Acquirors shall be deemed to have had Knowledge of either Acquiror, as of the Effective Date, any executive officer of BW or any member of </FONT><FONT size=2 face="Times New Roman">Bidder&#8217;s </FONT><FONT size=2 face="Times New Roman">management board (as the case may be) had actual knowledge </FONT><I><FONT size=2 face="Times New Roman">(positive Kenntnis</FONT></I><FONT size=2 face="Times New Roman">) or any lack of knowledge due to gross negligence (</FONT><I><FONT size=2 face="Times New Roman">grob fahrl&#228;ssige Unkenntnis</FONT></I><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

  </TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">5.3</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Remedies</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">If either of the Acquirors is in breach of its guarantees set forth in clause 5.1, the Acquirors shall be jointly and severally liable (haftend als Gesamtschuldner) either (i) no later than twenty (20) Business Days after being notified by the Shareholder of such breach in writing, to put the the Shareholder in such position it would have been in without such breach (Naturalrestitution) or (ii) after the expiration of such period or earlier at the Shareholder's sole discretion, to pay to the Shareholder an amount equal to any damages (positives Interesse), within the meaning of Section 249 et seq. BGB arising out of such breach, including any foreseeable consequential or indirect damages (</FONT><I><FONT size=2 face="Times New Roman">vorhersehbare Folgesch&#228;den oder vorhersehbare mittelbare Sch&#228;den</FONT></I><FONT size=2 face="Times New Roman">), however, excluding (i) any lost profits (Section 252 BGB), (ii) any internal administration or overhead costs and (iii) taxes or similar charges on indemnification payments.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   </TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman">6.</FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Announcements</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;<B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">6.1</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Immediately after the Effective Date, Bidder will publish the announcement of the Offer, also stating the Offer Price, in accordance with Section 10 para. 1 sentence 1 and para. 3 sentence 1 Wp&#220;G and a corresponding press release.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">6.2</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Acquirors can refer to this Agreement and its content in the course of market standard investor relations and/or analyst communications and in their announcements and disclosure in connection with the Bidder</FONT><FONT size=2 face="Times New Roman">&#8217;</FONT><FONT size=2 face="Times New Roman">s decision to make the Offer.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   </TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">6.3</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">None of the Parties shall make any further public announcements or press releases in relation to the contents of this Agreement, unless otherwise agreed between the Parties in writing, explicitly provided for in this Agreement or required by applicable law stock market regulation, in the discretion of the disclosing party exercised in good faith, or upon request of a competent authority or stock market.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman">7.</FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Transfer of Intellectual Property</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;<B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Shareholder shall transfer and assign all Shareholder IP to the Target with effect from the Offer Completion. The Shareholder shall reasonably support the Target in re-registration of such intellectual property rights, including by making statements or producing information necessary to effect the change of the registry.</FONT></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">9|32</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Stephen Raiser</FONT></P>
<TABLE style="LINE-HEIGHT:normal; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman">8.</FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Exclusion of Claims</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">8.1</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">With the exception of </FONT><FONT size=2 face="Times New Roman">the Shareholder&#8217;s existing employment agreement e</FONT><FONT size=2 face="Times New Roman">ntered into between the Target and the Shareholder (the </FONT><B><I><FONT size=2 face="Times New Roman">Surviving Relationships</FONT></I></B><FONT size=2 face="Times New Roman">) to the extent legally permissible, all claims and remedies of the Shareholder against a member of the Target Group (including but not limited to claims under the German Employee Invention Act), irrespective of their nature, amount and legal basis, are hereby expressly waived and excluded upon the Offer Completion with effect from the Offer Completion and therefore, from and after the Offer Completion, the Shareholder shall, not directly or indirectly, initiate or promote any such claims or remedies against the Target Group. The Shareholder shall notify the Target within three (3) Business Day after the Effective Date of such waiver.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   </TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">8.2</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">For the avoidance of doubt, the waiver and obligation of the Shareholder pursuant to the foregoing clause 8.1 shall not apply in cases of intent (</FONT><I><FONT size=2 face="Times New Roman">Vorsatz</FONT></I><FONT size=2 face="Times New Roman">) or willful deceit (</FONT><I><FONT size=2 face="Times New Roman">arglistige T&#228;uschung</FONT></I><FONT size=2 face="Times New Roman">) or fraudulent behavior on the part of the Acquirors.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   </TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman">9.</FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Termination of Agreements with Target Group</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;<B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">With the exception of the Surviving Relationships, the Shareholder shall terminate all Related-Party Agreemeents upon the Offer Completion with effect from the Offer Completion</FONT><I><FONT size=2 face="Times New Roman">.</FONT></I></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   </TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman">10.</FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Confidentiality</FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;<B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">10.1</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Parties hereby undertake to each other to keep the existence and contents of this Agreement and anything set out or referred to therein, as well as the discussions between the Parties, and, in particular, terms and conditions of the Offer, strictly confidential, subject only to disclosure on a need to know basis to professional advisors, </FONT><FONT size=2 face="Times New Roman">(on Shareholder&#8217;s side) to the Target and to the mem</FONT><FONT size=2 face="Times New Roman">bers of the management board and the supervisory board of the Target and their respective advisors, (on the Acquirors</FONT><FONT size=2 face="Times New Roman">&#8217; </FONT><FONT size=2 face="Times New Roman">side) to sources of debt financing and the issuer of the Financing Confirmation, as provided for in this Agreement or as required, in the discretion of the disclosing party exercised in good faith, by applicable law or stock market regulation or upon request of a competent authority or stock market. Notwithstanding the foregoing, the Acquirors may disclose information regarding this Agreement, the Offer and the Target Group in meetings with its existing or prospective investors, provided that the Acquirors shall provide a copy of any presentation to be used in such an investor meeting to the Target in advance of such investor meeting.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   </TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">10.2</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Starting from the Offer Completion, the Shareholder hereby undertake to keep any trade and business secrets (</FONT><I><FONT size=2 face="Times New Roman">Betriebs- und Gesch&#228;ftsgeheimnisse</FONT></I><FONT size=2 face="Times New Roman">) of the Target Group strictly confidential.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left>&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   </TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">10.3</FONT></TD>
   <TD VALIGN="TOP" WIDTH="99%" ALIGN="LEFT" STYLE="text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Clause 10.1 and 10.2 shall not include information that (i) is or has become known in the public domain other than through a fault of the Party obliged to </FONT><FONT size=2 face="Times New Roman">hold the information confidential or of any of such Party&#8217;s Affiliates or (ii) was lawfully known to such Party or to any of such Party&#8217;s Af</FONT><FONT size=2 face="Times New Roman">filiates prior to the Effective Date this Agreement and which is not subject to any other confidential obligation to the other Party or Parties concerned.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">10|32</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Stephen Raiser</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; line-height: normal">





<TR>

   <TD STYLE="vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman">10.4 </FONT></TD>

   <TD STYLE="vertical-align: top; width: 99%">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder hereby consent to the disclosure of the existence and/or the major terms and conditions of this Agreement in connection with the Offer as from the Effective Date and, in particular to BaFin, including in the Offer Document and/or any related or ancillary document, as required by law.</FONT></DIV></TD></TR>

<TR>

   <TD STYLE="vertical-align: top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top"></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"><B><FONT size=2 face="Times New Roman">11. </FONT></B></TD>

   <TD STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Parent Guarantee</FONT></B></DIV></TD></TR>

<TR>

   <TD STYLE="vertical-align: top">&nbsp;</TD>

   <TD STYLE="vertical-align: top"></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">BW hereby guarantees by way of an independent guarantee (</FONT><I><FONT size=2 face="Times New Roman">selbst&#228;ndige Garantieversprechen</FONT></I><FONT size=2 face="Times New Roman">) within the meaning of Section 311 para. 1 BGB on first demand (</FONT><I><FONT size=2 face="Times New Roman">nicht-akzessorische Garantie auf erstes Anfordern</FONT></I><FONT size=2 face="Times New Roman">) the full and punctual performance of all obligations and undertakings of the Bidder under or in connection with this Agreement.</FONT></DIV></TD></TR>

<TR>

   <TD STYLE="vertical-align: top">&nbsp;</TD>

   <TD STYLE="vertical-align: top"></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"><B><FONT size=2 face="Times New Roman">12. </FONT></B></TD>

   <TD STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Assignment</FONT></B></DIV></TD></TR>

<TR>

   <TD STYLE="vertical-align: top">&nbsp;</TD>

   <TD STYLE="vertical-align: top"></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Rights and claims under this Agreement may only be assigned with the prior written consent of the respective other Party.</FONT></DIV></TD></TR>

<TR>

   <TD STYLE="vertical-align: top">&nbsp;</TD>

   <TD STYLE="vertical-align: top"></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"><B><FONT size=2 face="Times New Roman">13. </FONT></B></TD>

   <TD STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Notices</FONT></B></DIV></TD></TR>

<TR>

   <TD STYLE="vertical-align: top">&nbsp;</TD>

   <TD STYLE="vertical-align: top"></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"><FONT size=2 face="Times New Roman">13.1 </FONT></TD>

   <TD STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">All communications and declarations of will (</FONT><I><FONT size=2 face="Times New Roman">Willenserkl&#228;rungen</FONT></I><FONT size=2 face="Times New Roman">) under or in connection with this Agreement shall be made in writing and shall be conveyed personally, by post or by email to the Parties at the following addresses and marked for the attention of the following persons:</FONT></DIV></TD></TR></TABLE><BR>

<TABLE style="LINE-HEIGHT: 14pt" cellSpacing=0 cellPadding=0 width="100%" border=0>



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   <DIV style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><FONT style="FONT-SIZE: 10pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></DIV></TD>

   <TD vAlign=top width="35%" noWrap align=left><FONT size=2 face="Times New Roman">Shareholder:</FONT></TD>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">Rettbergsaue 1<BR><FONT size=2 face="Times New Roman">65203 Wiesbaden<BR><FONT size=2 face="Times New Roman">Germany</FONT></FONT></FONT></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">Email: stephen.raiser@akasol.com;<BR>
stephen.raiser@imail.de</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">For the attention of: Stephen Raiser</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="35%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp; </FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="35%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;&nbsp; </FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="35%" noWrap align=left><FONT size=2 face="Times New Roman">Bidder:</FONT></TD>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG)</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=center><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=3 align=center><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">Attn.: Robert Boyle</FONT><BR>c/o BorgWarner Europe GmbH<BR><FONT size=2 face="Times New Roman">Augustaanlage 54-56<BR><FONT size=2 face="Times New Roman">68165 Mannheim<BR><FONT size=2 face="Times New Roman">Germany</FONT></FONT></FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">Email: rboyle@borgwarner.com</FONT></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">11|32</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Stephen Raiser</FONT></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>

   <DIV style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><FONT style="FONT-SIZE: 10pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></DIV></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">For the attention of: Robert Boyle</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp; </FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">with a copy to:</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp; </FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">Freshfields Bruckhaus Deringer<BR><FONT size=2 face="Times New Roman">Rechtsanw&#228;lte Steuerberater PartG mbB</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">Attn.: Rick van Aerssen and Dr. Sabrina Kulenkamp<BR><FONT size=2 face="Times New Roman">Bockenheimer Anlage 44<BR><FONT size=2 face="Times New Roman">60322 Frankfurt am Main<BR><FONT size=2 face="Times New Roman">Germany</FONT></FONT></FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=center>&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=3 align=center><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">Email: rick.aerssen@freshfields.com</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; sabrina.kulenkamp@freshfields.com</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">and</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=center><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=3 align=center>&nbsp;<FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left>

   <P><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">Foley &amp; Lardner LLP <BR></FONT>Attn.: Patrick G. Quick</FONT> <BR></FONT></FONT><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">111 Huntington Avenue</FONT><BR>Boston, MA 02199<BR></FONT><FONT size=2 face="Times New Roman">United States of America</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=center><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=3 align=center>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">Email: pgquick@foley.com</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="35%" noWrap align=left></TD>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="35%" noWrap align=left><FONT size=2 face="Times New Roman">BW:</FONT></TD>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="63%" noWrap align=left><FONT size=2 face="Times New Roman">BorgWarner Inc.<BR><FONT size=2 face="Times New Roman">Attn.: Tonit M. Calaway<BR><FONT size=2 face="Times New Roman">3850 Hamlin Road<BR><FONT size=2 face="Times New Roman">Auburn Hills, MI 48326<BR><FONT size=2 face="Times New Roman">United States of America</FONT></FONT></FONT></FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD width="35%" noWrap align=left></TD>

   <TD width="1%" noWrap align=left></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" align=center><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="99%" colSpan=3 align=center>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD width="35%" noWrap align=left></TD>

   <TD width="1%" noWrap align=left></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman">Email: tcalaway@borgwarner.com</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD width="35%" noWrap align=left></TD>

   <TD width="1%" noWrap align=left></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD width="35%" noWrap align=left></TD>

   <TD width="1%" noWrap align=left></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD width="35%" noWrap align=left></TD>

   <TD width="1%" noWrap align=left></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD width="35%" noWrap align=left></TD>

   <TD width="1%" noWrap align=left></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman">For the attention of: Tonit M. Calaway</FONT></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">12|32</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Stephen Raiser</FONT></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>


   <DIV style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></DIV></TD>

   <TD width="35%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman">with a copy to:</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><DIV style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></DIV></TD>

   <TD width="35%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"></FONT></FONT></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp; </FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="35%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman">Freshfields Bruckhaus Deringer <BR><FONT size=2 face="Times New Roman">Rechtsanw&#228;lte Steuerberater PartG mbB</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="35%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp; </FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="35%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman">Attn.: Rick van Aerssen and Dr. Sabrina Kulenkamp<BR><FONT size=2 face="Times New Roman">Bockenheimer Anlage 44<BR><FONT size=2 face="Times New Roman">60322 Frankfurt am Main<BR><FONT size=2 face="Times New Roman">Germany</FONT></FONT></FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="35%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp; </FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="35%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman">Email: rick.aerssen@freshfields.com</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" align=center><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="35%" align=center><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="1%" align=center><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="63%" align=left><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; sabrina.kulenkamp@freshfields.com</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="35%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp; </FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="35%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman">and</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="35%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="63%" noWrap align=left>&nbsp; </TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="35%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman">Foley &amp; Lardner LLP<BR><FONT size=2 face="Times New Roman">Attn.: Patrick G. Quick<BR><FONT size=2 face="Times New Roman">111 Huntington Avenue<BR><FONT size=2 face="Times New Roman">Boston, MA 02199<BR><FONT size=2 face="Times New Roman">United States of America</FONT></FONT></FONT></FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="35%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="35%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="63%" noWrap align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">Email: pgquick@foley.com</FONT></FONT></TD></TR></TABLE>

<P style="MARGIN: 0px"></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman"></FONT></P>

<TABLE style="WIDTH: 100%; LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">13.2&nbsp;</FONT> </FONT></TD>

   <TD vAlign=top width="99%">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Parties must immediately notify the respective other Parties and their advisers in writing of any changes to their addresses specified above. Until such notice is received, the previous address shall be deemed valid.</FONT></DIV></TD></TR>

<TR>

   <TD vAlign=top width="1%">

   <DIV style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></DIV></TD>

   <TD vAlign=top width="99%">&nbsp;</TD></TR>

<TR>

   <TD vAlign=top width="1%"><B><FONT size=2 face="Times New Roman">14. </FONT></B></TD>

   <TD vAlign=top width="99%">

   <DIV style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Service of Process</FONT></B></DIV></TD></TR>

<TR>

   <TD vAlign=top width="1%">&nbsp;</TD>

   <TD vAlign=top width="99%">&nbsp;</TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="99%">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Clause 13 (<EM>Notices</EM>) shall not apply in relation to the service of any claim form, notice, order, judgment or other document relating to or in connection with any legal proceedings, suit or action (including arbitration) arising out of or in connection with this Agreement. BW and the Bidder hereby appoint the lawyers admitted in Germany of the law firm of Freshfields Bruckhaus Deringer Rechtsanw&#228;lte Steuerberater PartG mbB as their respective agent for service of process for all legal proceedings arising out of or in connection with this Agreement. Any appointments shall only terminate upon the appointment of another agent for service of process domiciled in Germany, provided that the agent for service of process is an attorney admitted to the bar in Germany and her/his appointment has been notified to the Shareholder in case of BW&#8217;s or the Bidder&#8217;s agent or to BW and the Bidder in case of the Shareholder&#8217;s agent. If any appointment terminates otherwise (e.g., because the appointee ceases to exist), the relevant Party must without undue delay, but in any event no later than within ten (10) Business Days following such termination, appoint another agent for service of process who meets the requirements set out in the preceding sentence. If such appointment is not made as required, service can be effected, by posting the claim form, notice, order, judgment or other document by registered letter with acknowledgement of receipt or equivalent under the address of the respective Party stated in clause 10.1. Service shall then be deemed to have been effected on the addressee on the tenth (10<SUP>th</SUP>) day following the lodging of the letter. The Parties shall promptly after the Effective Date and upon the appointment of any new agent for service of process issue to the agent a written power of attorney and shall irrevocably instruct the agent to submit such deed in connection with any service of process under or in connection with this Agreement. The Parties agree that they waive any objection to the service so effected.</FONT></DIV></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">13|32</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Stephen Raiser</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; line-height: normal">





<TR>

   <TD STYLE="vertical-align: top"><B><FONT size=2 face="Times New Roman">15. </FONT></B></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top"><B><FONT size=2 face="Times New Roman">Termination prior to Offer Completion</FONT></B></TD></TR>

<TR>

   <TD STYLE="vertical-align: top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>

<TR>

   <TD STYLE="vertical-align: top"><FONT size=2 face="Times New Roman">15.1</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder shall be entitled to terminate (</FONT><I><FONT size=2 face="Times New Roman">k&#252;ndigen</FONT></I><FONT size=2 face="Times New Roman">) this Agreement by written notice to the Acquirors if</FONT></DIV></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%"></TD>

   <TD STYLE="vertical-align: top; width: 1%">

   <DIV style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;</FONT></DIV></TD>

   <TD STYLE="vertical-align: top; width: 98%">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman"></FONT></DIV></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">(a)</FONT></DIV></TD>

   <TD STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">the Offer Document has not been published within the time period as prescribed in the Wp&#220;G and/or in compliance with the requirements of clause 1;</FONT></DIV></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top">

<DIV style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></DIV></TD>

   <TD STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman"></FONT>&nbsp;</DIV></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top">

  <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">(b)</FONT></DIV></TD>

   <TD STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">either of the Acquirors fails to comply in any material respect with its obligations under this Agreement; or</FONT></DIV></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top">&nbsp;</TD>

   <TD STYLE="vertical-align: top">&nbsp; </TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">(c)</FONT></DIV></TD>

   <TD STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">the Business Combination Agreement has been terminated.</FONT></DIV></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top">&nbsp;</TD>

   <TD STYLE="vertical-align: top"></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"><FONT size=2 face="Times New Roman">15.2</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Bidder and BW shall each individually be entitled to terminate this Agreement by written notice to the Shareholder if (a) the Shareholder fails in any material respect to comply with its obligations under this Agreement or (b) the Business Combination Agreement has been terminated.</FONT></DIV></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>

<TR>

   <TD STYLE="vertical-align: top"><FONT size=2 face="Times New Roman">15.3</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Each Party shall be entitled to terminate this Agreement by written notice to the respective other Party if one or more conditions included in the Offer Document (that has not been waived in accordance with the Offer Document) finally failed (</FONT><I><FONT size=2 face="Times New Roman">endg&#252;ltig ausfallen</FONT></I><FONT size=2 face="Times New Roman">).</FONT></DIV></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>

<TR>

   <TD STYLE="vertical-align: top"><FONT size=2 face="Times New Roman">15.4</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The terminaton rights pursuant to clause 15.1 through clause 15.3 shall only be exercised within one (1) month after the termination right has arisen.</FONT></DIV></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>

<TR>

   <TD STYLE="vertical-align: top"><FONT size=2 face="Times New Roman">15.5 </FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">In case of a termination in accordance with this clause </FONT><FONT size=2 face="Times New Roman">15,</FONT></DIV></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">(a)</FONT></DIV></TD>

   <TD STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">all rights and obligations of the Parties hereunder shall terminate without any liability of any Party to the other Party, other than any liability for breaches of this Agreement prior to the termination which has been the cause for the termination of this Agreement; and </FONT></DIV></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top">&nbsp;</TD>

   <TD STYLE="vertical-align: top"></TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">(b)</FONT></DIV></TD>

   <TD STYLE="vertical-align: top">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">this Agreement shall immediately cease to have any effect, with the exception only of its clause </FONT><FONT size=2 face="Times New Roman">15.5</FONT><FONT size=2 face="Times New Roman"> and clause 10 (</FONT><I><FONT size=2 face="Times New Roman">Confidentiality</FONT></I><FONT size=2 face="Times New Roman">) through 10 (</FONT><I><FONT size=2 face="Times New Roman">Service of Process</FONT></I><FONT size=2 face="Times New Roman">) and </FONT><FONT size=2 face="Times New Roman">17</FONT><FONT size=2 face="Times New Roman"> (</FONT><I><FONT size=2 face="Times New Roman">Costs</FONT></I><FONT size=2 face="Times New Roman">) as well as 17 (</FONT><I><FONT size=2 face="Times New Roman">Miscellaneous</FONT></I><FONT size=2 face="Times New Roman">), which shall continue to apply.</FONT></DIV></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">14|32</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Stephen Raiser</FONT></P>

<TABLE style="WIDTH: 100%; LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD vAlign=top width="1%">

  <DIV style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">16.</FONT></B></DIV></TD>

   <TD vAlign=top width="99%">

   <DIV style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Costs</FONT></B></DIV></TD></TR>

<TR>

   <TD vAlign=top width="1%">

   <DIV style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></DIV></TD>

   <TD vAlign=top width="99%">&nbsp;&nbsp;</TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="99%">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">All transfer taxes, stamp duties, statutory fees (notarial fees), registration duties or other charges related in order to obtain any regulatory clearances (including merger control and other regulatory proceedings) payable in connection with the execution of this Agreement or the Offer shall be borne by Acquirors. Each Party shall pay its own expenses, including the costs of its advisors, incurred in connection with this Agreement.</FONT></DIV></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="99%">&nbsp;</TD></TR>

<TR>

   <TD vAlign=top width="1%">

   <DIV style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">17. </FONT></B></DIV></TD>

   <TD vAlign=top width="99%">

   <DIV style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Miscellaneous</FONT></B></DIV></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="99%">&nbsp;</TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">17.1 </FONT></TD>

   <TD vAlign=top width="99%">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">If one or more provisions of this Agreement should be or become wholly or partially invalid or void, the validity of the other provisions of this Agreement shall not be affected thereby. The same shall apply if it should transpire that this Agreement contains an omission. In place of the invalid or void provision (or, as the case may be, in order to rectify the omission), an appropriate provision which comes as close as legally possible to what the Parties were trying to achieve with the invalid or void provision (or, as the case may be, the invalid or void part thereof) shall be deemed agreed upon. If a contractual omission needs to be rectified, a provision shall be deemed agreed upon which, in view of the purpose and intent of this Agreement, comes as close as possible to what the Parties would have agreed if they had been aware of the omission at the time that this Agreement was concluded.</FONT></DIV></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="99%">&nbsp;</TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">17.2</FONT></TD>

   <TD vAlign=top width="99%">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">This Agreement sets out the entire agreement between the Parties relating to the subject-matter hereof. Variations and additions to this Agreement shall be made in writing. The same shall apply to any waiver of the need to comply with the provisions of this clause 17.2.</FONT></DIV></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="99%">&nbsp;</TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">17.3 </FONT></TD>

   <TD vAlign=top width="99%">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">This Agreement may be executed by the Parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. Any signature (including, without limitation, (i) any electronic symbol or process attached to, or associated with, a contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record and (ii) any facsimile, E-pencil or .pdf signature) hereto or to any other certificate, agreement or document related to this Agreement, and any contract formation or record-keeping, in each case, through electronic means, shall have the same legal validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law.</FONT></DIV></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="99%">&nbsp;</TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">17.4 </FONT></TD>

   <TD vAlign=top width="99%">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Terms to which a German translation has been added shall be interpreted as having the meaning assigned to them by the German translation. The headings of the clauses and subclauses in this Agreement are for convenience purposes only and shall not affect the interpretation of any of the provisions hereof.</FONT></DIV></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="99%">&nbsp;</TD></TR>

<TR>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">17.5 </FONT></TD>

   <TD vAlign=top width="99%">

   <DIV style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">This Agreement shall be governed by the substantive laws of Germany, not taking into account the provisions on conflicts of laws.</FONT></DIV></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">15|32</FONT></P>

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<!-- part 04 -->
<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Stephen Raiser</FONT></P>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">17.6</FONT></TD>
   <TD width="99%">
   <P align=justify><FONT size=2 face="Times New Roman">All disputes arising out of or in connection with this Agreement or its validity shall be finally settled in accordance with a separate arbitration agreement, substantially in the form attached hereto as </FONT><B><U><FONT size=2 face="Times New Roman">Schedule 17.6</FONT></U></B><FONT size=2 face="Times New Roman">., which shall be executed by the Parties immediately after the Effective Date.</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="99%">
   <P align=justify><FONT size=2 face="Times New Roman"></FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: center"><I><FONT size=2 face="Times New Roman">[signatures on the following page]</FONT></I></P>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">16|32</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Stephen Raiser</FONT></P>
<DIV ALIGN="RIGHT">
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 40%">

<TR vAlign=bottom>
   <TD STYLE="border-bottom: Black 1pt solid; width: 100%; text-align: left"><FONT size=2 face="Times New Roman">/s/ Stephen Raiser</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="text-align: left"><FONT size=2 face="Times New Roman">Stephen Raiser, Individually</FONT></TD></TR></TABLE>

</DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">17|32</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Stephen Raiser</FONT></P>


<DIV align=right>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR STYLE="vertical-align: bottom">
   <TD COLSPAN="2" STYLE="padding-right: 4pt; vertical-align: bottom; text-align: left"><B><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG)
</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Robert Boyle
</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Robert Boyle
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Member of the Management Board
</FONT></TD></TR>
</TABLE></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">18|32</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Stephen Raiser</FONT></P>

<DIV align=right>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left" colspan=2><B><FONT size=2 face="Times New Roman">BorgWarner Inc.

</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Tonit M. Calaway
</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Tonit M. Calaway
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Executive Vice President, Chief<BR>
Administrative Officer, General Counsel, and<BR>
Secretary
</FONT></TD></TR>
</TABLE></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">19|32</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Stephen Raiser</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Schedule B Deposit Confirmation by ING DiBa AG</FONT></B></P>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">20|32</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Stephen Raiser</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Schedule 1.2 Offer Conditions</FONT></B></P>

<DIV>

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman">12.</FONT></B></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman">OFFER CONDITIONS</FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman">12.1</FONT></B></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman">Offer Conditions</FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P><FONT size=2 face="Times New Roman">The Offer and the contracts which come into existence as a result of its acceptance by the AKASOL Shareholders are subject to the following conditions (the &#8220;<STRONG>Offer Conditions</STRONG>&#8221;):</FONT></P>

   <P><FONT size=2 face="Times New Roman">[<STRONG>Note:</STRONG><EM> Set of regulatory conditions depends on the outcome of the currently ongoing regulatory analysis and may be amended as required.</EM>]</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P><FONT size=2 face="Times New Roman"></FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.1</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U>Merger control clearances</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U></U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">



   <P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">After publication of this Offer Document and at the latest by [</FONT><FONT size=2 face="Times New Roman">&#9679;</FONT><FONT size=2 face="Times New Roman">]<SUP>1 </SUP>2021, each of the Offer Conditions set out in Section 12.1.1 (a)-(d) of this Offer Document have been fulfilled:</FONT></P></TD></TR>

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   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"></TD></TR>

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   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">the German Federal Cartel Office (<EM>Bundeskartellamt</EM>) has approved the Transaction or the Transaction is deemed to be approved or the FCO has confirmed that it is not competent to review the Transaction;</FONT></TD></TR>

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   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

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   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">the Austrian FCA and FCP have approved the Transaction or the Transaction is deemed to be approved or the FCA and the FCP have confirmed that they are not competent to review the Transaction;</FONT></TD></TR>

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   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

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   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">the Polish UOKiK has approved the Transaction or the Transaction is deemed to be approved or the UOKiK has confirmed that it is not competent to review the Transaction;</FONT></TD></TR>

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   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

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   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">In the event of a referral to the European Commission pursuant to Article 22 of the EU Merger Regulation (&#8220;EUMR&#8221;), the European Commission having approved the Transaction under the EUMR,</FONT></TD></TR>

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   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">and completion of the Transaction is no longer subject to a suspense obligation under applicable competition law.</FONT></TD></TR>

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   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.2</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U>[Foreign investment clearance Germany]</U></FONT></TD></TR>

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   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

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   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and at the latest by [&#9679;]<SUP>2</SUP> 2021, the BMWi has</FONT></TD></TR>

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   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

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   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">granted a Certificate of non-objection (<EM>Unbedenklichkeitsbescheinigung</EM>) in accordance with Section 58 para. 1 sentence 1 AWV or otherwise informed the Bidder that it will not initiate proceedings (<EM>Pr&#252;fverfahren</EM>) within the two months&#8217; time period specified in Section 14a para. 1 number 1 of the German Foreign Trade Act (<EM>Au&#223;enwirtschaftsgesetz</EM> &#8211; &#8220;<STRONG>AWG</STRONG>&#8221;); or</FONT></FONT></TD></TR>

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   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

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   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">not initiated such proceedings within such time period; or</FONT></FONT></TD></TR>

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   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

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   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">informed the Bidder in writing, after initiating such proceedings, that the Transaction will not be prohibited or does not meet the requirements for a prohibition; or</FONT></FONT></TD></TR>

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   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

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   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">not prohibited the Transaction, after initiating such proceedings, within the four months&#8217; time period specified in Section 14a para. 1 number 2 AWG, as possibly extended pursuant to Section 14a paras. 4, 5 and 6 AWG.</FONT></FONT></TD></TR></TABLE>
<DIV>____________________</DIV>
<BR>

<DIV>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>1</SUP></FONT></TD>

   <TD STYLE="vertical-align: top; width: 100%; text-align: justify">



   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note</FONT></B><B><I><FONT size=2 face="Times New Roman">: </FONT></I></B><I><FONT size=2 face="Times New Roman">Long stop date to be determined by BW/BidCo based on outcome of the currently ongoing regulatory analysis and discussion with BaFin.</FONT></I></P></TD></TR>

<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 100%; text-align: justify">

   </TD></TR>

<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>2</SUP></FONT></TD>

   <TD STYLE="vertical-align: top; width: 100%; text-align: justify">

   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note</FONT></B><B><I><FONT size=2 face="Times New Roman">: </FONT></I></B><I><FONT size=2 face="Times New Roman">Long stop date to be determined by BW/BidCo based on outcome of the currently ongoing regulatory analysis and discussion with BaFin.</FONT></I></P></TD></TR></TABLE>

   <P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">21|32</FONT></P>


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<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.3</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"><U>Minimum Acceptance Threshold</U></FONT></FONT></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">



   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Upon expiry of the Acceptance Period, the total sum of the AKASOL Shares</FONT></P></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">for which the acceptance of the Offer has been effectively declared in accordance with Section 13.2 of this Offer Document and for which no withdrawal of the agreement entered into as a result of the acceptance of the Offer has been effectively declared,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">held directly by the Bidder or a person acting jointly with the Bidder pursuant to Section 2 para. 5 Wp&#220;G,</FONT></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">attributable to the Bidder or any Bidder Parent Company in application of Section 30 Wp&#220;G; and</FONT></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">for which the Bidder or persons acting jointly with the Bidder pursuant to Section 2 para. 5 Wp&#220;G have concluded a conditional or unconditional agreement with any AKASOL Shareholder outside of the Offer which entitles them to the transfer of title to these AKASOL Shares,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman">is equivalent to at least 50% of the number of AKASOL Shares outstanding at the end of the Acceptance Period plus one (1) AKASOL Share, i.e. at the time of publication of the Offer Document, at least [6,061,856]<SUP>3</SUP> AKASOL Shares. AKASOL Shares which are subject to several of the preceding paragraphs (a) to (d) will be taken into account only once.</FONT></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.4</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U>No issuance of instruments to receive AKASOL Shares</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, the Bidder has not received a letter from the management board of AKASOL AG nor has AKASOL AG made a public announcement stating that AKASOL has issued, or guaranteed, subscription rights, options, (convertible) bonds or other financial instruments granting a right to receive AKASOL Shares.</FONT></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left><FONT  size=2 face="Times New Roman">12.1.5</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><U>No adverse shareholders&#8217; meeting resolution</U></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><U></U></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left><FONT  size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, the general meeting of AKASOL has not adopted a resolution approving</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><U></U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a capital increase; or</FONT></FONT></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a change of the rights or nature of shares; or</FONT></FONT></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a distribution of a cash or non-cash dividend; or</FONT></FONT></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a measure pursuant to the German Transformation Act (<EM>Umwandlungsgesetz</EM>); or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top noWrap align=left></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman">(e)</FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">the conclusion of any upstream intercompany agreement within the meaning of Sections 291, 292 AktG (but excluding any such intercompany agreement with a subsidiary of AKASOL); or</FONT></FONT></TD></TR>

<TR>

   <TD vAlign=top noWrap align=left>&nbsp;</TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman">(f)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">to dissolve AKASOL.</FONT></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left><FONT  size=2 face="Times New Roman">12.1.6</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><U><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">No insolvency of AKASOL</FONT></FONT> <FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"></FONT></FONT></U></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, AKASOL has not published any notification pursuant to Article 17 of Regulation (EU) No 596/2014 (&#8220;<STRONG>Market Abuse Regulation</STRONG>&#8221;) according to which</FONT></FONT></TD></TR></TABLE>

<DIV>____________________</DIV>
<BR>

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<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>3</SUP></FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top; width: 100%">



   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note: </FONT></B><I><FONT size=2 face="Times New Roman">Number of issued shares TBD on date of publication of offer document.</FONT></I></P></TD></TR>


</TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">22|32</FONT></P>

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<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">a loss equaling half of the share capital within the meaning of Section 92 para. 1 AktG has been suffered; or</FONT></TD></TR>

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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">an insolvency proceeding has been instituted against the assets of AKASOL or the management board of AKASOL AG has applied for the institution of such proceeding; or</FONT></TD></TR>

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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">a reason has arisen that would necessitate the filing of an application for the institution of an insolvency proceeding.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"><FONT size=2 face="Times New Roman">12.1.7</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"><U>No market material adverse change</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, neither of the following events has occurred:</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a trading suspension specifically related to the ABBA Shares of more than five consecutive trading days at the Frankfurt Stock Exchange (excluding any general suspension of trading); or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">the closing quote of SDAX (ISIN DE0009653386) in the XETRA trading system of Deutsche B&#246;rse AG, as determined by Deutsche B&#246;rse AG, or a successor thereof, and published on its website (www.deutsche-boerse.com), on more than three consecutive trading days is more than 30% below the closing quote of SDAX as at the last trading day preceding the day of the publication of the decision to launch the Offer pursuant to Section 10 para. 1 sentence 1 Wp&#220;G, i.e., below a SDAX threshold level of [&#9679;]<SUP>4</SUP> points.</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"><FONT  size=2 face="Times New Roman">12.1.8</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><U><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">No target material adverse change</FONT></FONT></U></TD></TR>

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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT  size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, none of the following events shall have occurred:</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">AKASOL has notified or should have notified the Bidder that AKASOL&#8217;s cumulative order value of framework agreements and call-off agreements agreed with customers (&#8220;<STRONG>Order Backlog</STRONG>&#8221;), determined using the same methodology used to determine the Order Backlog disclosed on page 3 of AKASOL&#8217;s Half Year Financial Report 2020, has fallen below EUR 1.75 billion;</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">(b)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">AKASOL has published any notification pursuant to Article 17 of the Market Abuse Regulation; or</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">circumstances have occurred that would have had to be published by AKASOL pursuant to article 17 para. 1 of the Market Abuse Regulation or where AKASOL decided to delay the publication pursuant to article 17 para. 4 of the Market Abuse Regulation,</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">following in the case of each of clauses (b) and (c) the occurrence of any circumstance (isolated incident) which has had or could reasonably be expected to have a negative impact on AKASOL's unadjusted EBITDA for the financial year 2021 in the amount of at least EUR 15 million (together with the occurrence described in clause (a), each a &#8220;<STRONG>Target Material Ad hoc Obligatory Adverse Change</STRONG>&#8221;). AKASOL&#8217;s unadjusted EBITDA shall be determined in accordance with the same principles as applied in AKASOL&#8217;s [2019] [<STRONG>Note:</STRONG> <EM>If by publication of the offer document the financial accounts 2020 have been published, 2019 should be replaced by 2020</EM>] financial statements.</FONT></FONT></P>

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">Whether during the Acceptance Period a Target Material Ad hoc Obligatory Adverse Change has occurred shall be determined exclusively by an expert opinion of [&#9679; &#8211; <STRONG>Note:</STRONG> <i>Auditor TBD </i></FONT></FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>by BW/BidCo following signing of BCA</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">] as independent expert (&#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Independent Expert</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8220;) applying careful commercial consideration and as set out in Section 12.2.</FONT></P></TD></TR></TABLE>

<DIV>____________________</DIV>
<BR>

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<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>4</SUP></FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top; width: 100%">



   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note: </FONT></B><I><FONT size=2 face="Times New Roman">Threshold TBD following section 10 announcement.</FONT></I></P></TD></TR>


</TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">23|32</FONT></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; line-height: normal; border-collapse: collapse">
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     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If (i) the Independent Expert confirms that a Target Material Ad hoc Obligatory Adverse Change has occurred during the Acceptance Period, (ii) the expert opinion of the Independent Expert has been received by the Bidder prior to the expiry of the Acceptance Period, and (iii) the Bidder at the latest until the date of the publication pursuant to Section 23 para. 1 sentence 1 number 2 Wp&#220;G has published the receipt and result of the expert opinion of the Independent Expert, the Offer Condition as set out in this Section 12.1.8 shall be deemed not fulfilled. In all other cases, the Offer Condition as set out in this Section 12.1.8 shall be deemed fulfilled.</FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
     <TD STYLE="vertical-align: top; width: 1%"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
     <TD STYLE="vertical-align: top; width: 98%"></TD></TR>
<TR>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">12.1.9</FONT></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U>No Material Compliance Violation</U></FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U></U></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, no criminal offence or administrative offence (</FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>Ordnungswidrigkeiten</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">), be it an offense under German criminal or administrative law or other applicable laws, in particular bribery offenses and corruption, embezzlement, anti-trust violations or money laundering, by a member of the governing body or an officer of AKASOL or a subsidiary of AKASOL while any of these persons was operating in their official capacity at AKASOL or a subsidiary of AKASOL, is known to have occurred, provided that any such infringement or criminal or administrative offense (i) constitutes inside information for AKASOL pursuant to Article 7 of the Market Abuse Regulation or (ii) has constituted inside information prior to its publication (&#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Material Compliance Violation</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8221;).</FONT></DIV></TD></TR>
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     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Whether during the Acceptance Period a Material Compliance Violation has occurred shall be determined exclusively by the Independent Expert as set out in Section 12.2.</FONT></DIV></TD></TR>
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     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If (i) the Independent Expert confirms that a Material Compliance Violation has occurred during the Acceptance Period, (ii) the expert opinion of the Independent Expert has been received by the Bidder prior to the expiry of the Acceptance Period, and (iii) the Bidder at the latest until the date of the publication pursuant to Section 23 para. 1 sentence 1 number 2 Wp&#220;G has published the receipt and result of the expert opinion of the Independent Expert, the Closing Condition as set out in this Section 12.1.9 shall be deemed not fulfilled. In all other cases, the Closing Condition as set out in this Section 12.1.9 shall be deemed fulfilled.</FONT></DIV></TD></TR>
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     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
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     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">12.1.10 </FONT></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U>Breach of Certain Covenants</U></FONT></DIV></TD></TR>
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     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U></U></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Prior to expiry of the Acceptance Period neither of the following events has occurred (either, a &#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Breach of Certain Covenants</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8221;): </FONT></DIV></TD></TR>
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     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">(a)</FONT></DIV></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Sven Schulz and Sven Schulz Group GmbH shall have failed to transfer and assign all intellectual property rights relating to the business of the AKASOL Group (including but not limited to patents, trademarks as well as copyrights) and applications for registration of intellectual property rights that are owned or held by Sven Schulz or Sven Schulz Group GmbH rather than by the AKASOL Group to AKASOL with effect from the Offer Completion.</FONT></DIV></TD></TR>
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     <TD STYLE="vertical-align: top"></TD>
     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD>
     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV></DIV></TD></TR>
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     <TD STYLE="vertical-align: top"></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">(b)</FONT></DIV></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Any member of the AKASOL Group shall have, without the approval of BorgWarner whose consent shall be deemed granted unless BorgWarner objects to a respective request by AKASOL addressed to Demetri Samohin by email at </FONT><FONT style="font-size: 10pt" face="Times New Roman">dsamohin@borgwarner.com</FONT><FONT style="font-size: 10pt" face="Times New Roman">, with a copy to Tonit Calaway by email at tcalaway@borgwarner.com, within five (5) Business Days from receipt of such request, incurred, assumed or guaranteed any indebtedness for borrowed money, except for (i) borrowings under credit or loan agreements existing and not yet drawn at the Effective Date, which shall not exceed EUR 25 million in the aggregate for the&nbsp;AKASOL Group, (ii) guarantees and factorings not to exceed EUR 10 million in the aggregate for the AKASOL Group, and (iii) indebtedness among AKASOL and any other member of the AKASOL Group.</FONT></DIV></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">24|32</FONT></P>
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   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></DIV></DIV></TD>
   <TD vAlign=top width="99%">
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U></U></FONT></DIV>
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Whether during the Acceptance Period a Breach of Certain Covenants has occurred shall be determined exclusively by the Independent Expert as set out in Section 12.2.</FONT></DIV></DIV></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If (i) the Independent Expert confirms that a Breach of Certain Covenants has occurred during the Acceptance Period, (ii) the expert opinion of the Independent Expert has been received by the Bidder prior to the expiry of the Acceptance Period, and (iii) the Bidder at the latest until the date of the publication pursuant to Section 23 para. 1 sentence 1 number 2 Wp&#220;G has published the receipt and result of the expert opinion of the Independent Expert, the Offer Condition as set out in this Section 12.1.10 shall be deemed not fulfilled. In all other cases, the Offer Condition as set out in this Section 12.1.10 shall be deemed fulfilled.</FONT></DIV></DIV></DIV></TD></TR>
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   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>12.2</B></FONT></DIV></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>Independent Expert</B></FONT></DIV></TD></TR>
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   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 10pt" face="Times New Roman">12.2.1 </FONT></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">The Independent Expert shall only act upon request by the Bidder. The Bidder shall publish, without undue delay (</FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>unverz&#252;glich</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">) and with reference to this Offer, the commencement of the procedure to determine whether a Target Material Ad hoc Obligatory Adverse Change, a Material Compliance Violation and/or a Breach of Certain Covenants has occurred during the Acceptance Period in the German Federal Gazette and on the internet at http://www.abba-offer.com. In case the Bidder receives an expert opinion of the Independent Expert prior to the expiry of the Acceptance Period which states that during the Acceptance Period a Target Material Ad hoc Obligatory Adverse Change, a Material Compliance Violation and/or a Breach of Certain Covenants has occurred, the Bidder is obliged to publish the fact that it has received such expert opinion and the result of such expert opinion, without undue delay, and in any case on or prior to the date of the publication pursuant to Section 23 para 1 sentence 1 no. 2 Wp&#220;G, and with reference to this Offer, in the German Federal Gazette and on the internet at http://www.abba-offer.com. The expert opinion of the Independent Expert shall be binding and final upon the Bidder and the accepting AKASOL Shareholders. The costs and disbursements of the Independent Expert shall be borne by the Bidder.</FONT></DIV></TD></TR>
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   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp; </TD></TR>
<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 10pt" face="Times New Roman"><B>12.3 </B></FONT></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>Nonfulfillment of the Offer Conditions; Waiver of Offer Conditions</B></FONT></DIV></TD></TR>
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   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
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   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">The Offer Conditions set out in Sections 12.1.1 through 12.1.10 of this Offer Document shall each constitute independent and separable conditions. The Bidder may waive all or individual Offer Conditions in advance &#8211; to the extent permissible &#8211; pursuant to Section 21 para. 1 sentence 1 no. 4 Wp&#220;G as long as such Offer Conditions have not ultimately lapsed.</FONT></DIV></TD></TR>
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   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">A waiver is equivalent to the fulfilment of the relevant Offer Condition. If the Bidder waives any of the Offer Conditions within the last two weeks prior to expiry of the Acceptance Period, the Acceptance Period will be extended by two weeks (Section 21 para. 5 Wp&#220;G), </FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>i.e., </I></FONT><FONT style="font-size: 10pt" face="Times New Roman">until [</FONT><FONT style="font-size: 10pt" face="Times New Roman">&#9679;</FONT><FONT style="font-size: 10pt" face="Times New Roman">] 2021, 24:00 hrs (local time Frankfurt am Main) / 18:00 hrs (local time New York).</FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If the Offer Conditions set forth in Section 12.1 of this Offer Document either have not been satisfied on or prior to the applicable date or have definitively lapsed before these dates and the Bidder has not effectively waived them in advance, the Offer shall lapse. In this case, the contracts which come into existence as a result of accepting the Offer will cease to exist and will not be consummated (conditions subsequent); and delivered AKASOL Shares will be returned. The Settlement Agent (as defined in Section 13.1 of this Offer Document) will promptly, at the latest within four Banking Days after announcement of the expiry of the Offer, order the rebooking of the Tendered AKASOL Shares (ISIN [</FONT><FONT style="font-size: 10pt" face="Times New Roman">&#9679;</FONT><FONT style="font-size: 10pt" face="Times New Roman">]) to ISIN DE000A2JNWZ9 by the Custodian Banks (as defined in Section 13.2 of this Offer Document) through Clearstream Banking AG, Frankfurt am Main, Germany (&#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Clearstream</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8221;). The rebooking is generally free
    of costs and expenses of the Custodian Banks for the AKASOL Shareholders who hold their AKASOL Shares in a securities deposit account in the Federal Republic of Germany. Any foreign taxes or costs and fees of foreign Custodian Banks that do not have securities deposit account connections with Clearstream must, however, be paid by the respective AKASOL Shareholders.</FONT></DIV></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">25|32</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>

<TABLE style="WIDTH: 100%; LINE-HEIGHT: normal; border-collapse: collapse" cellSpacing=0 cellPadding=0 border=0>

<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 10pt" face="Times New Roman"><B>12.4 </B></FONT></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>Publications concerning Offer Conditions</B></FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 12pt" face="Times New Roman"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">The Bidder will promptly announce on the internet at http://www.abba-offer.com (in German and in an English translation) and in the Federal Gazette (</FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>Bundesanzeiger</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">) if (i) an Offer Condition has been effectively waived in advance, (ii) an Offer Condition has been fulfilled, (iii) all Offer Conditions have either been fulfilled or have been effectively waived in advance or (iv) the Offer is not consummated because an Offer Condition has finally not been fulfilled or lapsed. Likewise, the Bidder will promptly announce at the end of the Acceptance Period, as part of the publication according to Section 23 para. 1 no. 2 Wp&#220;G, which of the Offer Conditions of Section 12.1 of this Offer Document have been fulfilled by such time.</FONT></DIV></TD></TR></TABLE>


 </DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">26|32</FONT></P>

<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Stephen Raiser</FONT></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman">Schedule 4.1(j)&nbsp;</FONT></B></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Shareholder IP</FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">27|32</FONT></P>

<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Stephen Raiser</FONT></P>

<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Schedule 17.6 Draft Arbitration Agreement</FONT></B></P>

<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">ARBITRATION AGREEMENT</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">among</FONT></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(1)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Stephen Raiser, born on March 06, 1970, residing at Rettbergsaue 1, 65203 Wiesbaden, Germany (the </FONT><B><I><FONT size=2 face="Times New Roman">Shareholder</FONT></I></B><FONT size=2 face="Times New Roman">;</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(2)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG), a stock corporation (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesellschaft</FONT></I><FONT size=2 face="Times New Roman">) incorporated under the laws of Germany, having its registered office at Frankfurt am Main, Germany, and registered with the Local Court of Frankfurt am Main under no. HRB 121819 (the </FONT><B><I><FONT size=2 face="Times New Roman">Bidder</FONT></I></B><I><FONT size=2 face="Times New Roman">)</FONT></I><FONT size=2 face="Times New Roman">, and</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(3)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">BorgWarner Inc., a corporation incorporated under the laws of the State of Delaware, United States of America, having its registered office at 3850 Hamlin Road, Auburn Hills, Michigan 48326, United States of America (</FONT><B><I><FONT size=2 face="Times New Roman">BW </FONT></I></B><FONT size=2 face="Times New Roman">and together with the Bidder the </FONT><B><I><FONT size=2 face="Times New Roman">Acquirors</FONT></I></B><FONT size=2 face="Times New Roman">)</FONT></P>





   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">(the Shareholder, Bidder and BW each a </FONT><B><I><FONT size=2 face="Times New Roman">Party </FONT></I></B><FONT size=2 face="Times New Roman">and together the </FONT><B><I><FONT size=2 face="Times New Roman">Parties</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">PREAMBLE</FONT></B></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(A)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">AKASOL AG is a stock corporation (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesellschaft</FONT></I><FONT size=2 face="Times New Roman">) incorporated under German law, having its registered office at Darmstadt, Germany, and registered with the commercial register of the Local Court of Darmstadt under HRB 97834 (the </FONT><B><I><FONT size=2 face="Times New Roman">Target</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" align=left></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(B)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">On 15 </FONT><FONT size=2 face="Times New Roman">February 2021, the Parties entered into the &#8220;Agreement on the Irrevocable Undertaking&#8221; (the </FONT><B><I><FONT size=2 face="Times New Roman">Irrevocable Undertaking</FONT></I></B><FONT size=2 face="Times New Roman">), where the Bidder </FONT><I><FONT size=2 face="Times New Roman">inter alia </FONT></I><FONT size=2 face="Times New Roman">undertakes to make a voluntary public takeover offer within the meaning of Section 29 para. 1 of the German Securities Acquisition and Takeover Act (</FONT><I><FONT size=2 face="Times New Roman">Wertpapiererwerbs- und &#220;bernahmegesetz</FONT></I><FONT size=2 face="Times New Roman">) for the purchase of all shares issued by the the Target (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer</FONT></I></B><FONT size=2 face="Times New Roman">), the Shareholder, inter alia, undertakes to accept the Offer in respect of all shares the Shareholder holds in the Target and the Parties, inter alia</FONT><I><FONT size=2 face="Times New Roman">, </FONT></I><FONT size=2 face="Times New Roman">give explicit representations and warranties.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(C)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Parties intend to settle all disputes arising out of or in connection with the Irrevocable Undertaking by arbitration. To fulfil the formal requirements according to Section 1031 para. 5 sentence 1 of the German Civil Procedure Code (</FONT><I><FONT size=2 face="Times New Roman">Zivilprozessordnung</FONT></I><FONT size=2 face="Times New Roman">), the Parties enter into this separate arbitration agreement:</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">28|32</FONT></P>

<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Stephen Raiser</FONT></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">All disputes arising out of or in connection with the Irrevocable Undertaking or its validity shall be finally settled in accordance with the Arbitration Rules of the German Arbitration Institute (DIS) without recourse to the ordinary courts of law. Claims of the Parties can be decided in a single arbitration (</FONT><I><FONT size=2 face="Times New Roman">multi-party-arbitration</FONT></I><FONT size=2 face="Times New Roman">). The arbitral tribunal shall be comprised of three members. The seat of the arbitration is Frankfurt am Main, Germany. The language of the arbitration shall be English. The rules of law applicable to the merits shall be the laws of Germany.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: center"><I><FONT size=2 face="Times New Roman">[signatures on the following page]</FONT></I></P>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">29|32</FONT></P>

<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Stephen Raiser</FONT></P>
<DIV Align=right>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 40%">

<TR vAlign=bottom>
   <TD STYLE="border-bottom: Black 1pt solid; width: 100%; text-align: left"><FONT size=2 face="Times New Roman">/s/ Stephen Raiser</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="text-align: left"><FONT size=2 face="Times New Roman">Stephen Raiser, Individually</FONT></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">30|32</FONT></P>
<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Stephen Raiser</FONT></P>



<DIV align=right>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR STYLE="vertical-align: bottom">
   <TD COLSPAN="2" STYLE="padding-right: 4pt; vertical-align: bottom; text-align: left"><B><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG)
</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Robert Boyle
</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Robert Boyle
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Member of the Management Board
</FONT></TD></TR>
</TABLE></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">31|32</FONT></P>
<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Stephen Raiser</FONT></P>
<DIV align=right>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left" colspan=2><B><FONT size=2 face="Times New Roman">BorgWarner Inc.

</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Tonit M. Calaway
</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Tonit M. Calaway
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Executive Vice President, Chief<BR>
Administrative Officer, General Counsel, and<BR>
Secretary
</FONT></TD></TR>
</TABLE></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">32|32</FONT></P>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>borg3887841-ex104.htm
<DESCRIPTION>AGREEMENT ON THE IRREVOCABLE UNDERTAKING, DATED FEBRUARY 15, 2021, FELIX
<TEXT>

<HTML>
<HEAD>
   <TITLE></TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

<P style="TEXT-ALIGN: right"><B><FONT size=2 face="Times New Roman">Exhibit 10.4</FONT></B></P>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>

<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">AGREEMENT <BR>ON THE<BR></FONT></B><B><FONT size=2 face="Times New Roman">IRREVOCABLE UNDERTAKING </FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">among</FONT></P>

<TABLE style="LINE-HEIGHT: normal; font-size: 10pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(1)</FONT></TD>

   <TD width="99%">

   <P align=justify><FONT size=2 face="Times New Roman">Felix von Borck, born on September 13, 1969, residing at Schreberweg 51, 64289 Darmstadt, Germany (the </FONT><B><I><FONT size=2 face="Times New Roman">Shareholder</FONT></I></B><FONT size=2 face="Times New Roman">);</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="99%">

   <P align=justify><FONT size=2 face="Times New Roman"></FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(2)</FONT></TD>

   <TD width="99%">

   <P align=justify><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG), a stock corporation
   (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesellschaft</FONT></I><FONT size=2 face="Times New Roman">)
   incorporated under the laws of Germany, having its registered office at Frankfurt am Main, Germany, and registered with the
   Local Court of Frankfurt am Main, Germany, under HRB 121819 (the </FONT><B><I><FONT size=2 face="Times New Roman">Bidder</FONT></I></B><FONT size=2 face="Times New Roman">);
   and</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(3)</FONT></TD>

   <TD width="99%">

   <P align=justify><FONT size=2 face="Times New Roman">BorgWarner Inc., a corporation incorporated under the laws of the State
   of Delaware, United States of America, having its registered office at 3850 Hamlin Road, Auburn Hills, Michigan 48326,
   United States of America (</FONT><B><I><FONT size=2 face="Times New Roman">BW </FONT></I></B><FONT size=2 face="Times New Roman">and
   together with the Bidder the </FONT><B><I><FONT size=2 face="Times New Roman">Acquirors</FONT></I></B><FONT size=2 face="Times New Roman">)</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD width="1%"></TD>

   <TD width="99%">

   <P align=justify><FONT size=2 face="Times New Roman">(the Shareholder, Bidder and BW each a </FONT><B><I><FONT size=2 face="Times New Roman">Party </FONT></I></B><FONT size=2 face="Times New Roman">and together the </FONT><B><I><FONT size=2 face="Times New Roman">Parties</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">PREAMBLE</FONT></B></P>

<TABLE style="LINE-HEIGHT: normal; font-size: 10pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(A)</FONT></TD>

   <TD width="99%">

   <P align=justify><FONT size=2 face="Times New Roman">AKASOL AG is a stock corporation (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesellschaft</FONT></I><FONT size=2 face="Times New Roman">)
   incorporated under the laws of Germany, having its registered office at Darmstadt, Germany, and registered with the
   commercial register of the Local Court of Darmstadt under HRB 97834 (the </FONT><B><I><FONT size=2 face="Times New Roman">Target</FONT></I></B><FONT size=2 face="Times New Roman">,
   and including its subsidiaries from time to time </FONT><B><I><FONT size=2 face="Times New Roman">Target
   Group</FONT></I></B><FONT size=2 face="Times New Roman">). The share capital (</FONT><I><FONT size=2 face="Times New Roman">Grundkapital</FONT></I><FONT size=2 face="Times New Roman">)
   of the Target amounts to EUR 6,061,856 and is divided into 6,061,856 non-par value bearer shares (</FONT><I><FONT size=2 face="Times New Roman">auf
   den Inhaber lautende St&#252;ckaktien</FONT></I><FONT size=2 face="Times New Roman">) with a proportionate amount of EUR 1.00
   per share of the share capital (each a </FONT><B><I><FONT size=2 face="Times New Roman">Target Share </FONT></I></B><FONT size=2 face="Times New Roman">and
   collectively </FONT><B><I><FONT size=2 face="Times New Roman">Target Shares</FONT></I></B><FONT size=2 face="Times New Roman">).
   The Target Shares are admitted to trading on the regulated market (</FONT><I><FONT size=2 face="Times New Roman">Regulierter
   Markt</FONT></I><FONT size=2 face="Times New Roman">) with additional post-admission obligations (Prime Standard) of the
   Frankfurt Stock Exchange under ISIN DE000A2JNWZ9).</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="99%">

   <P align=justify><FONT size=2 face="Times New Roman"></FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(B)</FONT></TD>

   <TD width="99%">

   <P align=justify><FONT size=2 face="Times New Roman">The Shareholder holds a total of 303,296 Target Shares (the </FONT><B><I><FONT size=2 face="Times New Roman">Shareholder&#8217;s
   Shares</FONT></I></B><FONT size=2 face="Times New Roman">). The Shareholder&#8217;s Shares represent approximately 5.00335
   per cent of the issued and outstanding share capital of the Target as of the Effective Date (as defined in clause 1.1(a)) and
   are held in a securities deposit with Commerzbank and Targobank in Darmstadt, Germany, as attached hereto as </FONT><B><U><FONT size=2 face="Times New Roman">Schedule
   B.</FONT></U></B></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="99%">

   <P align=justify>&nbsp;</P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(C)</FONT></TD>

   <TD width="99%">

   <P align=justify><FONT size=2 face="Times New Roman">Bidder, an indirectly wholly-owned subsidiary of BW, considers to make a
   voluntary public takeover offer within the meaning of Section 29 para. 1 of the German Securities Acquisition and Takeover
   Act (</FONT><I><FONT size=2 face="Times New Roman">Wertpapiererwerbs- und &#220;bernahmegesetz</FONT></I><FONT size=2 face="Times New Roman">, </FONT><B><I><FONT size=2 face="Times New Roman">Wp&#220;G</FONT></I></B><FONT size=2 face="Times New Roman">)
   for the purchase of all Target Shares against cash consideration per Target Share (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD width="99%">

   <P align=justify>&nbsp;</P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(D)</FONT></TD>

   <TD width="99%">

   <P align=justify><FONT size=2 face="Times New Roman">The Shareholder intends to tender all Shareholder&#8217;s Shares into the Offer subject to the terms and conditions agreed herein.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">1</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>


<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Now, therefore, the Parties enter into this agreement on the acceptance of a potential public takeover offer (the </FONT><B><I><FONT size=2 face="Times New Roman">Agreement</FONT></I></B><FONT size=2 face="Times New Roman">):</FONT></P>

<TABLE style="LINE-HEIGHT: normal; font-size: 10pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD vAlign=top width="1%" noWrap><B><FONT size=2 face="Times New Roman">1.</FONT></B></TD>

   <TD vAlign=top width="99%" colSpan=2>

   <P align=justify><B><FONT size=2 face="Times New Roman">Bidder&#8217;s Obligations regarding the Offer</FONT></B></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">1.1</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2>

   <P align=justify><FONT size=2 face="Times New Roman">The Bidder hereby undertakes to</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">announce its intention to launch the Offer in accordance with Section 10 para. 1 sentence 1 and para. 3 sentence 1 Wp&#220;G immediately after execution of this Agreement (the </FONT><B><I><FONT size=2 face="Times New Roman">Effective Date</FONT></I></B><FONT size=2 face="Times New Roman">);</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">submit a formal offer document (</FONT><I><FONT size=2 face="Times New Roman">Angebotsunterlage</FONT></I><FONT size=2 face="Times New Roman">)
   describing the terms and conditions of the Offer (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer
   Document</FONT></I></B><FONT size=2 face="Times New Roman">) and which has been prepared in accordance with the Takeover Act
   and the German Regulation on the Content of the Offer Document, the Consideration for Takeover Offers and Mandatory Offers
   and the Release from the Obligation to Publish and Submit a Tender Offer (</FONT><B><I><FONT size=2 face="Times New Roman">Wp&#220;G-Angebotsverordnung</FONT></I></B><FONT size=2 face="Times New Roman">)
   to the German Federal Financial Supervisory Authority (</FONT><I><FONT size=2 face="Times New Roman">Bundesanstalt f&#252;r
   Finanzdienstleistungsaufsicht &#8211; </FONT></I><B><I><FONT size=2 face="Times New Roman">BaFin</FONT></I></B><FONT size=2 face="Times New Roman">)
   for its review within the time period prescribed in Section 14 para. 1 Wp&#220;G and which shall have a maximum offer period
   (Section 16 para. 1 Wp&#220;G) of six (6) weeks and which reflects the terms and conditions of this Agreement, in particular
   as set forth in clauses 1.2 and 1.3 and shall otherwise correspond to the requirements set forth in the Business Combination
   Agreement executed on or about the date hereof between the Target and the Acquirors (</FONT><B><I><FONT size=2 face="Times New Roman">Business
   Combination Agreement</FONT></I></B><FONT size=2 face="Times New Roman">);</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">not apply for any extension of the notice period by the BaFin pursuant
   to Section 14 para. 1 sentence 3 Wp&#220;G, unless the Shareholder gives its prior written consent;</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">publish the Offer Document within the time period prescribed in Section 14 para. 2 Wp&#220;G, provided that the publication of the Offer Document is not prohibited by the BaFin; and</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman"></FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(e)</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">settle the Offer by payment of the Offer Price (as defined in clause
   1.3) (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer Completion</FONT></I></B><FONT size=2 face="Times New Roman">)
   against simultaneous transfer of the tendered Target Shares without undue delay and in any event no later than seven (7)
   Business Days (meaning a day on which banks in Frankfurt am Main, Germany, are open for general commercial business), which
   obligation shall arise only after (i) the additional acceptance period within the meaning of Section 16 para. 2 Wp&#220;G has
   expired and (ii) all Offer Conditions have been satisfied or validly waived.</FONT></P></TD></TR></TABLE>

<TABLE style="LINE-HEIGHT: normal; font-size: 10pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="99%">

   <P align=justify><FONT size=2 face="Times New Roman"></FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">1.2</FONT></TD>

   <TD width="99%">

   <P align=justify><FONT size=2 face="Times New Roman">The Offer Document shall only contain those conditions within the meaning of Section 18 para. 1 Wp&#220;G (</FONT><I><FONT size=2 face="Times New Roman">Angebotsbedingungen</FONT></I><FONT size=2 face="Times New Roman">) as set out in </FONT><U><FONT size=2 face="Times New Roman"><STRONG>Schedule 1.2</STRONG></FONT></U><FONT size=2 face="Times New Roman"><STRONG>. </STRONG>For the avoidance of doubt, the Offer Document shall not provide for a minimum acceptance threshold (<EM>Mindestannahmeschwelle</EM>) in excess of a number of Target Shares equal to the sum of 50% of the number of Target Shares issued plus one Target Share.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">2</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>


<TABLE style="LINE-HEIGHT: normal; font-size: 10pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">1.3</FONT></TD>

   <TD width="99%">

   <P align=justify><FONT size=2 face="Times New Roman">The consideration per share (</FONT><I><FONT size=2 face="Times New Roman">Gegenleistung</FONT></I><FONT size=2 face="Times New Roman">)
   to be offered to the shareholders of the Target in the Offer Document shall be in cash only and shall be at least EUR 120.00
   per Target Share (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer Price</FONT></I></B><FONT size=2 face="Times New Roman">).
   For the avoidance of doubt, the Shareholder shall not be obliged to accept the Offer if the consideration per share in the
   Offer Document is below the Offer Price. In the event of (x) any subsequent voluntary increases of the Offer Price or (y) any
   mandatory increases of the Offer Price pursuant to Section 31 para. 1, 4 through 7 Wp&#220;G and Sections 3 to 5
   Wp&#220;G-Angebotsverordnung,the Shareholder hereby irrevocably waives its right to receive any consideration exceeding the
   Offer Price and shall be obligated to pay back to the Bidder within four (4) Business Days after the Offer Completion, with
   respect to each of Shareholder&#8217;s Shares, an amount equal to the difference between the initial Offer Price of EUR
   120.00 per Target Share and the increased offer price paid by the Bidder at the Offer Completion.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="99%">

   <P align=justify><FONT size=2 face="Times New Roman"></FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">1.4</FONT></TD>

   <TD width="99%">

   <P align=justify><FONT size=2 face="Times New Roman">BW hereby guarantees by way of an independent promise of guarantee
   (</FONT><I><FONT size=2 face="Times New Roman">selbst&#228;ndiges Garantieversprechen</FONT></I><FONT size=2 face="Times New Roman">)
   within the meaning of Section 311 para. 1 German Civil Code (</FONT><I><FONT size=2 face="Times New Roman">B&#252;rgerliches
   Gesetzbuch</FONT></I><FONT size=2 face="Times New Roman">, </FONT><B><I><FONT size=2 face="Times New Roman">BGB</FONT></I></B><FONT size=2 face="Times New Roman">)
   that the Bidder will be in position to finance the settlement of the Offer and that a securities services enterprise
   independent from the Acquirors and their affiliates within the meaning of Section 15 German Stock Corporation Act
   (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesetz) (</FONT></I><B><I><FONT size=2 face="Times New Roman">Affliliates</FONT></I></B><FONT size=2 face="Times New Roman">)
   will issue a financing confirmation in accordance with Section 13 Wp&#220;G (the </FONT><B><I><FONT size=2 face="Times New Roman">Financing Confirmation</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><B><FONT size=2 face="Times New Roman">2.</FONT></B> </TD>

   <TD width="99%">

   <P align=justify><B><FONT size=2 face="Times New Roman">Shareholder&#8217;s Obligations regarding the Acceptance of the Offer</FONT></B></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">2.1</FONT></TD>

   <TD width="99%">

   <P align=justify><FONT size=2 face="Times New Roman">Subject to the Offer Document having been published and fulfilling the
   requirements set forth in clause 1.1(b), the Shareholder hereby undertakes:</FONT></P></TD></TR>                                                                                                   <TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
</TABLE>

<TABLE style="LINE-HEIGHT: normal; font-size: 10pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">to accept the Offer in respect of all Shareholder&#8217;s Shares
   pursuant to the terms and provisions of the Offer Document no later than within three (3) </FONT><B><I><FONT size=2 face="Times New Roman">Business
   Days </FONT></I></B><FONT size=2 face="Times New Roman">(i.e. days on which banks are open for business in Frankfurt am Main)
   after commencement of the acceptance period pursuant to Section 16 para. 1 Wp&#220;G;</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman"></FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">not to challenge (</FONT><I><FONT size=2 face="Times New Roman">anfechten</FONT></I><FONT size=2 face="Times New Roman">)
   or withdraw from (</FONT><I><FONT size=2 face="Times New Roman">zur&#252;cktreten</FONT></I><FONT size=2 face="Times New Roman">)
   any such acceptance, including pursuant to Section 21 para. 4 Wp&#220;G and Section 22 para. 3 Wp&#220;G, and thereby to
   waive any withdrawal that may exist under the Wp&#220;G or other legislation with regard to the agreements resulting from
   acceptance of the Offer; however, should the Bidder increase the Offer, the Shareholder shall be entitled to withdraw from
   the Offer pursuant to section 21 para. 4 Wp&#220;G; in such case, the Shareholder undertakes to accept the Bidder&#180;s
   increased Offer immediately after the withdrawal but at the latest three (3) Business Days after the publication of the
   amendment to the Offer; and</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">to the extent legally permissible, to abstain from any act which should
   reasonably be expected to materially jeopardize or adversely affect the success of the Offer (in particular the
   satisfaction of the offer conditions pursuant to clause 1.2).</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">3</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>


<TABLE style="LINE-HEIGHT: normal; font-size: 10pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">2.2</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">For the avoidance of doubt, the Parties confirm that this Agreement does not constitute a sale and purchase and/or transfer agreement and/or option agreement for the Shareholder&#8217;s Shares, which shall exclusively be executed under the terms of the Offer Document.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman"></FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">2.3</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">The Shareholder shall immediately notify the Acquirors after the Shareholder accepts the Offer in accordance with clause 2.1.(a).</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">2.4</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">With regard to the undertaking pursuant to clause 2.1(a) and the acceptance of the Offer, no consent according to Section 1365 BGB by Shareholder&#8217;s spouse is required</FONT><B><FONT size=2 face="Times New Roman">.</FONT></B></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><B><FONT size=2 face="Times New Roman">3.</FONT></B> </TD>

   <TD width="98%">

   <P align=justify><B><FONT size=2 face="Times New Roman">Lock up, Standstill</FONT></B></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">3.1</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">From the Effective Date until the earlier of (i) Offer Completion and (ii) the termination of this Agreement in accordance with its terms, the Shareholder shall not sell, transfer, charge, encumber, grant any option over or otherwise dispose of any interest in any of the Shareholder&#8217;s Shares, other than pursuant to its acceptance of the Offer or of an increased or otherwise revised Offer.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">3.2</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">From the Effective Date until the earlier of (i) Offer Completion and (ii) three (3) months following the termination of this Agreement in accordance with its terms, the Shareholder shall not buy or acquire any Target Shares or shares in its subsidiaries or any specific financial instruments relating to such shares, unless BW gives its prior written consent.</FONT></P></TD></TR>                                                                                                                                                                                                                                                                                                                                                                                                                                                       <TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
</TABLE>

<TABLE style="LINE-HEIGHT: normal; font-size: 10pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD vAlign=top width="1%" noWrap><B><FONT size=2 face="Times New Roman">4.</FONT></B> </TD>

   <TD width="98%">

   <P align=justify><B><FONT size=2 face="Times New Roman">Representations and Warranties by the Shareholder; Remedies</FONT></B></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">4.1</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">Shareholder&#8217;s Guarantees</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">The Shareholder hereby guarantees to the Acquirors by way of an independent promise of guarantee (</FONT><I><FONT size=2 face="Times New Roman">selbst&#228;ndiges Garantieversprechen</FONT></I><FONT size=2 face="Times New Roman">) within the meaning of Section 311 para. 1 BGB that as of the Effective Date the statements made below are, and as of the date of the Offer Completion will continue to be, true, complete and not misleading:</FONT></P></TD></TR>                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 <TR>
   <TD>&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
</TABLE>

<TABLE style="LINE-HEIGHT: normal; font-size: 10pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD width="97%">

   <P align=justify><FONT size=2 face="Times New Roman">No bankruptcy, insolvency or similar proceedings in any jurisdiction
   have been commenced or applied for with respect to the Shareholder and the Shareholder is not unable to pay its due debts
   (</FONT><I><FONT size=2 face="Times New Roman">zahlungsunf&#228;hig</FONT></I><FONT size=2 face="Times New Roman">) or for
   other reasons compelled to apply for the commencement of bankruptcy, insolvency or similar proceedings under applicable
   law. To the Knowledge of the Shareholder (as defined in clause 4.2), as of the Effective Date, no bankruptcy, insolvency or
   similar filings have been threatened in writing with respect to the Shareholder.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="97%">

   <P align=justify><FONT size=2 face="Times New Roman"></FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD width="97%">

   <P align=justify><FONT size=2 face="Times New Roman">The information contained in Preamble (B) is correct and not misleading.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD width="97%">

   <P align=justify><FONT size=2 face="Times New Roman">The Shareholder is the sole legal and beneficial owner of the Shareholder&#8217;s Shares.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">4</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>


<TABLE style="LINE-HEIGHT: normal; font-size: 10pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">The Shareholder&#8217;s Shares have been fully paid up and no contributions have been returned (</FONT><I><FONT size=2 face="Times New Roman">Einlagenr&#252;ckgew&#228;hr</FONT></I><FONT size=2 face="Times New Roman">) in respect thereof.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(e)</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">The Shareholder is entitled to freely dispose of the Shareholder&#8217;s
   Shares subject only to restrictions under applicable law (including merger control and other regulatory laws). The
   Shareholder&#8217;s Shares are (i) free of any rights of third parties, including but not limited to liens, charges and other
   encumbrances (</FONT><I><FONT size=2 face="Times New Roman">dingliche Belastungen</FONT></I><FONT size=2 face="Times New Roman">),
   except for security interest of Clearstream Banking AG and/or the Shareholders depositary bank (if any), and (ii) not subject
   to any options, pre-emption rights, rights of first refusal or similar rights of third parties.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(f)</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">The Shareholder&#8217;s Shares are held by the Shareholder for its own risk and account and are not subject to any shareholders&#8217; voting, trust, pooling, consultation or similar agreements or arrangements.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(g)</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">To the Knowledge of the Shareholder, on the Effective Date and on the date of Offer Completion, all notice and disclosure duties of the Shareholder under Section 20, 21 of the AktG, Section 33 et seq. of the Securities Trading Act (</FONT><I><FONT size=2 face="Times New Roman">Wertpapierhandelsgesetz, WpHG</FONT></I><FONT size=2 face="Times New Roman">), if applicable and as amended from time to time, have always been discharged in a timely and proper manner.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(h)</FONT></TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman">As of the Signing Date, the Shareholder&#8217;s entering into this
   Agreement and the performance of the Shareholder&#8217;s respective obligations hereunder neither require any approval or
   consent by any court, governmental authority or other third party (except for approvals or consents which are Offer
   Conditions) nor violate any judicial or governmental order or decree or any applicable law.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="98%">

   <P align=justify><FONT size=2 face="Times New Roman"></FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">4.2</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Knowledge of Shareholder</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">In this Agreement, the Shareholder shall be deemed to have had Knowledge of the Shareholder if, as of the Effective Date, the Shareholder had actual knowledge (<I>positive Kenntnis</I>).</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">4.3</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2>

   <P><FONT size=2 face="Times New Roman">No Further Representations</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap></TD>

   <TD vAlign=top width="99%" colSpan=2>

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">The Shareholder makes no representations and warranties or guarantees other than those expressly and conclusively set forth in clause 4.1. The Parties agree that the statements contained in clause 4.1 shall not constitute a quality guarantee concerning the purchase object within the meanings of Sections 443 and 444 of the German Civil Code (</FONT><I><FONT size=2 face="Times New Roman">BGB</FONT></I><FONT size=2 face="Times New Roman">) (</FONT><I><FONT size=2 face="Times New Roman">keine Garantie f&#252;r die Beschaffenheit oder Haltbarkeit des Kaufgegenstandes</FONT></I><FONT size=2 face="Times New Roman">) </FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">4.4</FONT></TD>

   <TD vAlign=top width="99%" colSpan=2>

   <P><FONT size=2 face="Times New Roman">Remedies</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;</TD>
   <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD vAlign=top width="98%">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">If the Shareholder is in breach of any its guarantees set forth in clause 4.1 or is
   otherwise in breach of its obligations under this Agreement, the Shareholder shall, at his discretion, either</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">5</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<!-- PART 2-->

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>


<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; WIDTH: 100%; TEXT-ALIGN: justify; LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="1%">(i)</TD>

   <TD vAlign=top width="97%">no later than twenty (20) Business Days after being notified by BW of such breach in writing, put the Acquirors in such position it would have been in without such breach (restitution in kind &#8211; <EM>Naturalrestitution</EM>) or </TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="1%"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="97%">&nbsp;</TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="1%">(ii)</TD>

   <TD vAlign=top width="97%">if and to the extent such restitution in kind is impossible or the Shareholder refuses such restitution or if such restitution is not achieved within twenty (20) Business Days after the Shareholder having been notified of such breach, pay to Bidder (as reduction of the Offer Consideration) monetary damages (positives Interesse), within the meaning of Section 249 et seq. BGB, arising out of such breach, including any foreseeable consequential or indirect damages (<EM>vorhersehbare Folgesch&#228;den oder vorherseebare mittelbare Sch&#228;den</EM>), however, excluding (i) any lost profits (Section 252 BGB), (ii) any internal administration or overhead costs and (iii) taxes or similar charges on indemnification payments.</TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="99%" colSpan=3>&nbsp;<FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap></TD>

   <TD vAlign=top width="1%">(b)</TD>

   <TD vAlign=top width="98%" colSpan=2>The aggregate liability of the Shareholder under this Agreement for breaches of the Shareholder&#8217;s guarantees set forth in clauses 4.1(f) through 4.1(h) shall be limited to twenty-five per cent (25%) of the Offer Price multiplied by the number of Shareholder&#8217;s Shares actually paid to the Shareholder upon acceptance of the Offer. The aggregate liability of the Shareholder under this Agreement for breaches of the Shareholder&#8217;s guarantees in clauses 4.1(a) through 4.1(e)shall be limited to one hundred percent (100%) of the Offer Price multiplied by the number of Shareholder&#8217;s Shares actually paid to the Shareholder upon acceptance of the Offer. Furthermore, the aggregate liability of the Shareholder for any breaches under this Agreement collectively shall be limited to one hundred percent (100%) of the Offer Price multiplied by the number of Shareholder&#8217;s Shares actually paid to the Shareholder upon acceptance of the Offer.</TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT></TD>

   <TD vAlign=top width="1%"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="1%"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="97%"></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap></TD>

   <TD vAlign=top width="1%">(c)</TD>

   <TD vAlign=top width="98%" colSpan=2>The Parties agree that the rights and remedies which the Acquirors may have with respect to a breach by the Shareholder of its obligations under this Agreement are limited to the rights and remedies specified in this clause 4.4. Subject to the preceding sentence, with respect to the subject matter of this Agreement, any all and all rights and remedies of any legal nature (other than the rights and claims expressly set forth in this Agreement) of the Acquirors against the Shareholder shall be be expressly excluded.</TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT></FONT></TD>

   <TD vAlign=top width="1%"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></FONT></TD>

   <TD vAlign=top width="97%"></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap></TD>

   <TD vAlign=top width="1%">(d) </TD>

   <TD vAlign=top width="98%" colSpan=2>The limitations set forth in this clause 4.4 shall not apply in case of fraud (<EM>arglistige T&#228;uschung</EM>) or wilful misconduct (<EM>Vorsatz</EM>) of the Shareholder.</TD></TR>




</TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">6</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>

<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; WIDTH: 100%; TEXT-ALIGN: justify; LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 border=0>


<TR>

   <TD vAlign=top width="1%"><STRONG>5. </STRONG></TD>

   <TD vAlign=top width="99%" colSpan=3><STRONG>Representations and Warranties by the Acquirors; Remedies</STRONG></TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="99%" colSpan=3>

   <DIV style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10pt" color=#ffffff face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></FONT></FONT>&nbsp;</DIV></TD></TR>

<TR>

   <TD vAlign=top width="1%">5.1</TD>

   <TD vAlign=top width="99%" colSpan=3>

   <DIV>

   <DIV style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10pt" color=#ffffff face="Times New Roman"></FONT></DIV>

   <DIV>Acquirors&#8217; Guarantees</DIV></DIV></TD></TR>



<TR>
   <TD STYLE="vertical-align: top">&nbsp;</TD>
   <TD COLSPAN="3" STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="99%" colSpan=2>The Acquirors hereby guarantee to the Shareholder by way of an independent promise of guarantee (<EM>selbst&#228;ndiges Garantieversprechen</EM>) within the meaning of Section 311 para. 1 BGB that as of the Effective Date the statements made below are, and as of the date of the Offer Completion will continue to be, true, complete and not misleading:</TD></TR>

<TR>

   <TD vAlign=top width="1%"></TD>

   <TD vAlign=top width="99%" colSpan=2>&nbsp;<FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap></TD>

   <TD vAlign=top width="1%">(a)</TD>

   <TD vAlign=top width="98%">The Bidder is a stock corporation (<EM>Aktiengesellschaft</EM>), duly incorporated and existing under the laws of Germany, duly represented by its board of directors. BW is a corporation incorporated under the laws of the State of Delaware, United States of America and duly represented by its board of directors. BW, indirectly through BorgWarner US Holding LLC, a corporation incorporated under the laws of the State of Delaware, United States of America, having its registered office at 3850 Hamlin Road, Auburn Hills, Michigan 48326, United States of America, has unrestricted ownership of all shares in the Bidder.</TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap></TD>

   <TD vAlign=top width="1%"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="98%"></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap></TD>

   <TD vAlign=top width="1%">(b)</TD>

   <TD vAlign=top width="98%">No bankruptcy, insolvency or similar proceedings in any jurisdiction have been commenced or applied for with respect to either of the Acquirors and neither of the Acquirors is over-indebted (<EM>&#252;berschuldet</EM>) or unable to pay its due debts (<EM>zahlungsunf&#228;hig</EM>) or for other reasons compelled to apply for the commencement of bankruptcy, insolvency or similar proceedings under applicable law. To the Knowledge of either of the Acquirors (as defined in clause 5.2), as of the Effective Date, no bankruptcy, insolvency or similar filings have been threatened in writing with respect to either of the Acquirors.</TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT></TD>

   <TD vAlign=top width="1%"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="98%"></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap></TD>

   <TD vAlign=top width="1%">(c)</TD>

   <TD vAlign=top width="98%">Both of the Acquirors have full authority and capacity to enter into and perform their respective obligations under this Irrevocable, including the consummation of the Offer. The Acquirors' entering into this Agreement and the performance of the Acquirors' respective obligations hereunder do not violate the articles of association (or similar document) or by-laws of either of the Acquirors and have been duly authorized by all necessary corporate actions on the part of each of the Acquirors. As of the Signing Date, the Acquirors' entering into this Agreement and the performance of the Acquirors' respective obligations hereunder neither require any approval or consent by any court, governmental authority or other third party (except for approvals or consents which are Offer Conditions) or violate any judicial or governmental order or decree or any applicable law.</TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></TD>

   <TD vAlign=top width="1%"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT></FONT></TD>

   <TD vAlign=top width="98%"></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap></TD>

   <TD vAlign=top width="1%">(d) </TD>

   <TD vAlign=top width="98%">The Acquirors have complied in all material respects with all capital market laws and regulations in Germany and the United States of America applicable to any transaction contemplated by this Agreement including, but not limited to, notification requirements, insider trading and market manipulation rules. None of the Acquirors, any Affiliate of either of the Acquirors, or any entity acting collectively with the Acquirors within the meaning of Section 2 para. 5 Wp&#220;G has before the signing of this Agreement acquired or agreed to acquire or will acquire within a period that will be relevant under the minimum pricing rules pursuant to Section 31 Wp&#220;G and Section 3 et seq. of the Takeover Regulation (<EM>Wp&#220;G-Angebotsverordnung</EM>) any Target Shares for a consideration per share exceeding the Offer Price. </TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">7</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>




<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>

<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; WIDTH: 100%; TEXT-ALIGN: justify; LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT></TD>

   <TD vAlign=top width="1%">(e)</TD>

   <TD vAlign=top width="98%">The Bidder is acquiring the Shareholder&#8217;s Shares for its own account as well as for investment and not with a view to any sale, distribution or other disposal thereof. Neither of the Acquirors is acting in the interest or for the account of any unaffiliated third party. BW has no intention to sell, distribute other otherwise dispose of any shares held in the Bidder to an entity outside its group.</TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT></TD>

   <TD vAlign=top width="1%"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="98%"></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>5.2</TD>

   <TD vAlign=top width="99%" colSpan=2>Knowledge of the Acquirors</TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap></TD>

   <TD vAlign=top width="99%" colSpan=2>In this Agreement, the Acquirors shall be deemed to have had Knowledge of either Acquiror, as of the Effective Date, any executive officer of BW or any member of Bidder&#8217;s management board (as the case may be) had actual knowledge (<EM>positive Kenntnis</EM>) or any lack of knowledge due to gross negligence (<EM>grob fahrl&#228;ssige Unkenntnis</EM>).</TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>5.3</TD>

   <TD vAlign=top width="99%" colSpan=2>Remedies</TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap></TD>

   <TD vAlign=top width="99%" colSpan=2>If either of the Acquirors is in breach of its guarantees set forth in clause 5.1, the Acquirors shall be jointly and severally liable <EM>(haftend als Gesamtschuldner</EM>) either (i) no later than twenty (20) Business Days after being notified by the Shareholder of such breach in writing, to put the the Shareholder in such position it would have been in without such breach (<EM>Naturalres-titution</EM>) or (ii) after the expiration of such period or earlier at the Shareholder's sole discretion, to pay to the Shareholder an amount equal to any damages (<EM>positives Interesse</EM>), within the meaning of Section 249 et seq. BGB arising out of such breach, including any foreseeable consequential or indirect damages (<EM>vorhersehbare Folgesch&#228;den oder vorhersehbare mittelbare Sch&#228;den</EM>), however, excluding (i) any lost profits (Section 252 BGB), (ii) any internal administration or overhead costs and (iii) taxes or similar charges on indemnification payments.</TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><STRONG>6.</STRONG></TD>

   <TD vAlign=top width="99%" colSpan=2><STRONG>Announcements</STRONG></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>6.1</TD>

   <TD vAlign=top width="99%" colSpan=2>Immediately after the Effective Date, Bidder will publish the announcement of the Offer, also stating the Offer Price, in accordance with Section 10 para. 1 sentence 1 and para. 3 sentence 1 Wp&#220;G and a corresponding press release. </TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>6.2</TD>

   <TD vAlign=top width="99%" colSpan=2>The Acquirors can refer to this Agreement and its content in the course of market standard investor relations and/or analyst communications and in their announcements and disclosure in connection with the Bidder&#8217;s decision to make the Offer.</TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>6.3</TD>

   <TD vAlign=top width="99%" colSpan=2>None of the Parties shall make any further public announcements or press releases in relation to the contents of this Agreement, unless otherwise agreed between the Parties in writing, explicitly provided for in this Agreement or required by applicable law stock market regulation, in the discretion of the disclosing party exercised in good faith, or upon request of a competent authority or stock market.</TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">8</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>

<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; WIDTH: 100%; TEXT-ALIGN: justify; LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD vAlign=top width="1%" noWrap><STRONG>7.</STRONG></TD>

   <TD vAlign=top width="99%" colSpan=2><STRONG>Exclusion of Claims</STRONG></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%"></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>7.1</TD>

   <TD vAlign=top width="99%" colSpan=2>With the exception of the Shareholder&#8217;s existing employment agreement entered into between the Target and the Shareholder (the <STRONG><EM>Surviving Relationship</EM></STRONG>) to the extent legally permissible, all claims and remedies of the Shareholder against a member of the Target Group, irrespective of their nature, amount and legal basis, are hereby expressly waived and excluded effective upon the Offer Completion with effect from the Offer Completion and therefore, from and after the Offer Completion, the Shareholder shall, not directly or indirectly, initiate or promote any such claims or remedies against the Target Group.</TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>7.2</TD>

   <TD vAlign=top width="99%" colSpan=2>For the avoidance of doubt, the waiver and obligation of the Shareholder pursuant to the foregoing clause shall not apply in cases of intent (<EM>Vorsatz</EM>) or willful deceit (<EM>arglistige T&#228;uschung</EM>) or fraudulent behavior on the part of the Acquirors. </TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><STRONG>8.</STRONG></TD>

   <TD vAlign=top width="99%" colSpan=2><STRONG>Confidentiality</STRONG></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>8.1</TD>

   <TD vAlign=top width="99%" colSpan=2>The Parties hereby undertake to each other to keep the existence and contents of this Agreement and anything set out or referred to therein, as well as the discussions between the Parties, and, in particular, terms and conditions of the Offer, strictly confidential, subject only to disclosure on a need to know basis to professional advisors, (on Shareholder&#8217;s side) to the Target and to the members of the management board and the supervisory board of the Target and their respective advisors, (on the Acquirors&#8217; side) to sources of debt financing and the issuer of the Financing Confirmation, as provided for in this Agreement or as required, in the discretion of the disclosing party exercised in good faith, by applicable law or stock market regulation or upon request of a competent authority or stock market. Notwithstanding the foregoing, the Acquirors may disclose information regarding this Agreement, the Offer and the Target Group in meetings with its existing or prospective investors, provided that the Acquirors shall provide a copy of any presentation to be used in such an investor meeting to the Target in advance of such investor meeting. </TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>8.2</TD>

   <TD vAlign=top width="99%" colSpan=2>Starting from the Offer Completion, the Shareholder hereby undertake to keep any trade and business secrets (<EM>Betriebs- und Gesch&#228;ftsgeheimnisse</EM>) of the Target Group strictly confidential.</TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>8.3</TD>

   <TD vAlign=top width="99%" colSpan=2>Clause 8.1 and 8.2 shall not include information that (i) is or has become known in the public domain other than through a fault of the Party obliged to hold the information confidential or of any of such Party&#8217;s Affiliates or (ii) was lawfully known to such Party or to any of such Party&#8217;s Affiliates prior to the Effective Date this Agreement and which is not subject to any other confidential obligation to the other Party or Parties concerned.</TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">9</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>




<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>

<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; WIDTH: 100%; TEXT-ALIGN: justify; LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD vAlign=top width="1%" noWrap>8.4</TD>

   <TD vAlign=top width="99%">The Shareholder hereby consent to the disclosure of the existence and/or the major terms and conditions of this Agreement in connection with the Offer as from the Effective Date and, in particular to BaFin, including in the Offer Document and/or any related or ancillary document, as required by law.</TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><STRONG>9.</STRONG></TD>

   <TD vAlign=top width="99%" colSpan=2><STRONG>Parent Guarantee</STRONG></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap></TD>

   <TD vAlign=top width="99%" colSpan=2>BW hereby guarantees by way of an independent guarantee (<EM>selbst&#228;ndige Garantieversprechen</EM>) within the meaning of Section 311 para. 1 BGB on first demand (<EM>nicht-akzessorische Garantie auf erstes Anfordern</EM>) the full and punctual performance of all obligations and undertakings of the Bidder under or in connection with this Agreement.</TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><STRONG>10.</STRONG></TD>

   <TD vAlign=top width="99%" colSpan=2><STRONG>Assignment</STRONG></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap></TD>

   <TD vAlign=top width="99%" colSpan=2>Rights and claims under this Agreement may only be assigned with the prior written consent of the respective other Party.</TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><STRONG>11.</STRONG></TD>

   <TD vAlign=top width="99%" colSpan=2><STRONG>Notices</STRONG></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD vAlign=top width="99%" colSpan=2>&nbsp;</TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap>11.1</TD>

   <TD vAlign=top width="99%" colSpan=2>All communications and declarations of will (Willenserkl&#228;rungen) under or in connection with this Agreement shall be made in writing and shall be conveyed personally, by post or by email to the Parties at the following addresses and marked for the attention of the following persons:</TD></TR></TABLE><BR>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="font: 10pt/normal Times New Roman; width: 100%; text-align: justify">



<TR>

   <TD STYLE="vertical-align: top; width: 1%"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 35%">Shareholder:</TD>


   <TD STYLE="vertical-align: top; width: 64%">Schreberweg 51<BR>64289 Darmstadt<BR>Germany </TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top">&nbsp;</TD>


   <TD STYLE="vertical-align: top">&nbsp;</TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top">&nbsp;</TD>


   <TD STYLE="vertical-align: top">Email: felix.vonborck@akasol.com; felix@borck.de</TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top">&nbsp;</TD>


   <TD STYLE="vertical-align: top">&nbsp;</TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top">&nbsp;</TD>


   <TD STYLE="vertical-align: top">For the attention of: Felix von Borck</TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top">&nbsp; </TD>


   <TD STYLE="vertical-align: top">&nbsp;</TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top">Bidder:</TD>


   <TD STYLE="vertical-align: top">Blitz F21-842 AG (in future: ABBA BidCo AG) </TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top"></TD>


   <TD STYLE="vertical-align: top">&nbsp;</TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top"></TD>


   <TD STYLE="vertical-align: top">Attn.: Robert Boyle <BR>c/o BorgWarner Europe GmbH<BR>Augustaanlage&nbsp;54-56<BR>68165 Mannheim <BR>Germany </TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top"></TD>


   <TD STYLE="vertical-align: top">&nbsp;</TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top"></TD>


   <TD STYLE="vertical-align: top">Email: rboyle@borgwarner.com </TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top"></TD>


   <TD STYLE="vertical-align: top">&nbsp;</TD></TR>

<TR>

   <TD STYLE="vertical-align: top"></TD>

   <TD STYLE="vertical-align: top"></TD>


   <TD STYLE="vertical-align: top">For the attention of: Robert Boyle</TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">10</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<!-- PART 3-->

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 100%">

<TR vAlign=bottom>
   <TD STYLE="width: 1%; white-space: nowrap; text-align: left"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>
   <TD STYLE="width: 35%; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="width: 64%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">with a copy to:</FONT></TD></TR>
<TR>
   <TD></TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Freshfields Bruckhaus Deringer</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Rechtsanw&#228;lte Steuerberater PartG mbB</FONT></TD></TR>
<TR>
   <TD></TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Attn.: Rick van Aerssen and Dr. Sabrina Kulenkamp</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Bockenheimer Anlage 44</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">60322 Frankfurt am Main</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Germany</FONT></TD></TR>
<TR>
   <TD></TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Email: rick.aerssen@freshfields.com</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;sabrina.kulenkamp@freshfields.com</FONT></TD></TR>
<TR>
   <TD></TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">and</FONT></TD></TR>
<TR>
   <TD></TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="text-align: center"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="text-align: center"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="text-align: left"><FONT size=2 face="Times New Roman">Foley &amp; Lardner LLP</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="text-align: center"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="text-align: center"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="text-align: left"><FONT size=2 face="Times New Roman">Attn.: Patrick G. Quick</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="text-align: center"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="text-align: center"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="text-align: left"><FONT size=2 face="Times New Roman">111 Huntington Avenue</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Boston, MA 02199</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">United States of America</FONT></TD></TR>
<TR>
   <TD></TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Email: pgquick@foley.com</FONT></TD></TR>
<TR>
   <TD></TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
   <TD></TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
   <TD></TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">BW:</FONT></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">BorgWarner Inc.</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="text-align: center"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="text-align: center"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="text-align: left"><FONT size=2 face="Times New Roman">Attn.: Tonit M. Calaway</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">3850 Hamlin Road</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Auburn Hills, MI 48326</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">United States of America</FONT></TD></TR>
<TR>
   <TD>&nbsp;</TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
   <TD>&nbsp;</TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Email: tcalaway@borgwarner.com</FONT></TD></TR>
<TR>
   <TD></TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">For the attention of: Tonit M. Calaway</FONT></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">11|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>
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   <TD STYLE="width: 1%; white-space: nowrap; text-align: left"><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><FONT style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>
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   <TD STYLE="width: 64%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">with a copy to:</FONT></TD></TR>
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   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Freshfields Bruckhaus Deringer</FONT></TD></TR>
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   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Rechtsanw&#228;lte Steuerberater PartG mbB</FONT></TD></TR>
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   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Attn.: Rick van Aerssen and Dr. Sabrina Kulenkamp</FONT></TD></TR>
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   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Bockenheimer Anlage 44</FONT></TD></TR>
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   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">60322 Frankfurt am Main</FONT></TD></TR>
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   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Germany</FONT></TD></TR>
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   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Email: rick.aerssen@freshfields.com</FONT></TD></TR>
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   <TD STYLE="text-align: left"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;sabrina.kulenkamp@freshfields.com</FONT></TD></TR>
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   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">and</FONT></TD></TR>
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   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Foley &amp; Lardner LLP</FONT></TD></TR>
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   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Attn.: Patrick G. Quick</FONT></TD></TR>
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   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">111 Huntington Avenue</FONT></TD></TR>
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   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Boston, MA 02199</FONT></TD></TR>
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   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">United States of America</FONT></TD></TR>
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   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Email: pgquick@foley.com</FONT></TD></TR></TABLE><BR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">11.2</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Parties must immediately notify the respective other Parties and their advisers in writing of any changes to their addresses specified above. Until such notice is received, the previous address shall be deemed valid.</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
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   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">12.</FONT></B></TD>
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   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Service of Process</FONT></B></P></TD></TR>
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   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Clause 11 (</FONT><I><FONT size=2 face="Times New Roman">Notices</FONT></I><FONT size=2 face="Times New Roman">) shall not apply in relation to the service of any claim form, notice, order, judgment or other document relating to or in connection with any legal proceedings, suit or action (including arbitration) arising out of or in connection with this Agreement. BW and the Bidder hereby appoint the lawyers admitted in Germany of the law firm of Freshfields Bruckhaus Deringer Rechtsanw&#228;lte Steuerberater PartG mbB as their respective agent for service of process for all legal proceedings arising out of or in connection with this Agreement. Any appointments shall only terminate upon the appointment of another agent for service of process domiciled in Germany, provided that the agent for service of process is an attorney admitted to the bar in Germany and her/his appointment has been notified to the Shareholder in case of BW&#8217;s or the Bidder&#8217;s agent or to BW and the Bidder in case of the Shareholder&#8217;s agent. If any appointment terminates otherwise (e.g., because the appointee ceases to exist), the relevant Party must without undue delay, but in any event no later than within ten (10) Business Days following such termination, appoint another agent for service of process who meets the requirements set out in the preceding sentence. If such appointment is not made as required, service can be effected, <FONT size=2 face="Times New Roman">by posting the claim form, notice, order, judgment or other document by registered letter with acknowledgement of receipt or equivalent under the address of the respective Party stated in clause 8.1. Service shall then be deemed to have been effected on the addressee on the tenth (10<SUP>th</SUP>) day following the lodging of the letter. The Parties shall promptly after the Effective Date and upon the appointment of any new agent for service of process issue to the agent a written power of attorney and shall irrevocably instruct the agent to submit such deed in connection with any service of process under or in connection with this Agreement. The Parties agree that they waive any objection to the service so effected.</FONT></FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">12|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>
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   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">13.</FONT></B></TD>
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   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Termination prior to Offer Completion</FONT></B></P></TD></TR>
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   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">13.1</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder shall be entitled to terminate (</FONT><I><FONT size=2 face="Times New Roman">k&#252;ndigen</FONT></I><FONT size=2 face="Times New Roman">) this Agreement by written notice to the Acquirors if</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left>&nbsp;</TD>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(a)</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">the Offer Document has not been published within the time period as prescribed in the Wp&#220;G and/or in compliance with the requirements of clause 1;</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(b)</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">either of the Acquirors fails to comply in any material respect with its obligations under this Agreement; or</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(c)</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">the Business Combination Agreement has been terminated.</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">13.2</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Bidder and BW shall each individually be entitled to terminate this Agreement by written notice to the Shareholder if (a) the Shareholder fails in any material respect to comply with its obligations under this Agreement or (b) the Business Combination Agreement has been terminated..</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">13.3</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Each Party shall be entitled to terminate this Agreement by written notice to the respective other Party if one or more conditions included in the Offer Document (that has not been waived in accordance with the Offer Document) finally failed (</FONT><I><FONT size=2 face="Times New Roman">endg&#252;ltig ausfallen</FONT></I><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">13.4 </FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The terminaton rights pursuant to clause 13.1 through clause 13.3 shall only be exercised within one (1) month after the termination right has arisen.</FONT></P></TD></TR>
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   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">13.5 </FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">In case of a termination in accordance with this clause 13,</FONT></P></TD></TR>
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   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(a)</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">all rights and obligations of the Parties hereunder shall terminate without any liability of any Party to the other Party, other than any liability for breaches of this Agreement prior to the termination which has been the cause for the termination of this Agreement; and</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left>&nbsp;</TD>
   <TD vAlign=top width="98%" align=left></TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(b)</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">this Agreement shall immediately cease to have any effect, with the exception only of its clause 13.5 and clause 8 (</FONT><I><FONT size=2 face="Times New Roman">Confidentiality</FONT></I><FONT size=2 face="Times New Roman">) through 10 (</FONT><I><FONT size=2 face="Times New Roman">Service of Process</FONT></I><FONT size=2 face="Times New Roman">) and 17 (</FONT><I><FONT size=2 face="Times New Roman">Costs</FONT></I><FONT size=2 face="Times New Roman">) as well as 15 (</FONT><I><FONT size=2 face="Times New Roman">Miscellaneous</FONT></I><FONT size=2 face="Times New Roman">), which shall continue to apply.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">13|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>
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   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">14.</FONT></B></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Costs</FONT></B></P></TD></TR>
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   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="99%" align=left></TD></TR>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">All transfer taxes, stamp duties, statutory fees (notarial fees), registration duties or other charges related in order to obtain any regulatory clearances (including merger control and other regulatory proceedings) payable in connection with the execution of this Agreement or the Offer shall be borne by Acquirors. Each Party shall pay its own expenses, including the costs of its advisors, incurred in connection with this Agreement.</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">15.</FONT></B></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Miscellaneous</FONT></B></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">15.1</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">If one or more provisions of this Agreement should be or become wholly or partially invalid or void, the validity of the other provisions of this Agreement shall not be affected thereby. The same shall apply if it should transpire that this Agreement contains an omission. In place of the invalid or void provision (or, as the case may be, in order to rectify the omission), an appropriate provision which comes as close as legally possible to what the Parties were trying to achieve with the invalid or void provision (or, as the case may be, the invalid or void part thereof) shall be deemed agreed upon. If a contractual omission needs to be rectified, a provision shall be deemed agreed upon which, in view of the purpose and intent of this Agreement, comes as close as possible to what the Parties would have agreed if they had been aware of the omission at the time that this Agreement was concluded.</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">15.2</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">This Agreement sets out the entire agreement between the Parties relating to the subject-matter hereof. Variations and additions to this Agreement shall be made in writing. The same shall apply to any waiver of the need to comply with the provisions of this clause 15.2.</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">15.3</FONT></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">This Agreement may be executed by the Parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. Any signature (including, without limitation, (i) any electronic symbol or process attached to, or associated with, a contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record and (ii) any facsimile, E-pencil or .pdf signature) hereto or to any other certificate, agreement or document related to this Agreement, and any contract formation or record-keeping, in each case, through electronic means, shall have the same legal validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law.</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">15.4</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Terms to which a German translation has been added shall be interpreted as having the meaning assigned to them by the German translation. The headings of the clauses and subclauses in this Agreement are for convenience purposes only and shall not affect the interpretation of any of the provisions hereof.</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">15.5</FONT></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">This Agreement shall be governed by the substantive laws of Germany, not taking into account the provisions on conflicts of laws.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">14|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">15.6</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">All disputes arising out of or in connection with this Agreement or its validity shall be finally settled in accordance with a separate arbitration agreement, substantially in the form attached hereto as </FONT><B><U><FONT size=2 face="Times New Roman">Schedule 15.6</FONT></U></B><FONT size=2 face="Times New Roman">., which shall be executed by the Parties immediately after the Effective Date.</FONT></P></TD></TR>
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<DIV style="TEXT-ALIGN: center"><I><FONT size=2 face="Times New Roman">[signatures on the following page]</FONT></I></DIV>
<P STYLE="text-align: right"><FONT size=2 face="Times New Roman">15|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>
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<!-- PART 4-->



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>


<DIV ALIGN="RIGHT">
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 40%">

<TR vAlign=bottom>
   <TD STYLE="border-bottom: Black 1pt solid; width: 100%; text-align: left"><FONT size=2 face="Times New Roman">/s/ Felix von Borck</FONT></TD></TR>

<TR vAlign=bottom>
   <TD STYLE="text-align: left"><FONT size=2 face="Times New Roman">Felix von Borck, Individually</FONT></TD></TR></TABLE>
</DIV>




<P STYLE="text-align: right"><FONT size=2 face="Times New Roman">16|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

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<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR STYLE="vertical-align: bottom">
   <TD COLSPAN="2" STYLE="padding-right: 4pt; vertical-align: bottom; text-align: left"><B><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG)
</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Robert Boyle
</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Robert Boyle
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Member of the Management Board
</FONT></TD></TR>
</TABLE>


<P STYLE="text-align: right"><FONT size=2 face="Times New Roman">17|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

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<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>






<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left" colspan=2><B><FONT size=2 face="Times New Roman">BorgWarner Inc.

</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Tonit M. Calaway
</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Tonit M. Calaway
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Executive Vice President, Chief<BR>
Administrative Officer, General Counsel, and<BR>
Secretary
</FONT></TD></TR>
</TABLE>

<P STYLE="text-align: right"><FONT size=2 face="Times New Roman">18|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

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<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>

<P STYLE="text-align: left"><B><FONT size=2 face="Times New Roman">Schedule B Deposit Confirmation by Commerzbank and Targobank</FONT></B></P>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">19|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

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<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Felix von Borck</FONT></P>





<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Times New Roman">Schedule&nbsp;1.2 Offer Conditions</FONT></B></P>

<DIV>

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman">12.</FONT></B></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman">OFFER CONDITIONS</FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman">12.1</FONT></B></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman">Offer Conditions</FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P><FONT size=2 face="Times New Roman">The Offer and the contracts which come into existence as a result of its acceptance by the AKASOL Shareholders are subject to the following conditions (the &#8220;<STRONG>Offer Conditions</STRONG>&#8221;):</FONT></P>

   <P><FONT size=2 face="Times New Roman">[<STRONG>Note:</STRONG><EM> Set of regulatory conditions depends on the outcome of the currently ongoing regulatory analysis and may be amended as required.</EM>]</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P><FONT size=2 face="Times New Roman"></FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.1</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U>Merger control clearances</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U></U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">



   <P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">After publication of this Offer Document and at the latest by [</FONT><FONT size=2 face="Times New Roman">&#9679;</FONT><FONT size=2 face="Times New Roman">]<SUP>1 </SUP>2021, each of the Offer Conditions set out in Section 12.1.1 (a)-(d) of this Offer Document have been fulfilled:</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">the German Federal Cartel Office (<EM>Bundeskartellamt</EM>) has approved the Transaction or the Transaction is deemed to be approved or the FCO has confirmed that it is not competent to review the Transaction;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">the Austrian FCA and FCP have approved the Transaction or the Transaction is deemed to be approved or the FCA and the FCP have confirmed that they are not competent to review the Transaction;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">the Polish UOKiK has approved the Transaction or the Transaction is deemed to be approved or the UOKiK has confirmed that it is not competent to review the Transaction;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">In the event of a referral to the European Commission pursuant to Article 22 of the EU Merger Regulation (&#8220;EUMR&#8221;), the European Commission having approved the Transaction under the EUMR,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">and completion of the Transaction is no longer subject to a suspense obligation under applicable competition law.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.2</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U>[Foreign investment clearance Germany]</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and at the latest by [&#9679;]<SUP>2</SUP> 2021, the BMWi has</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">granted a Certificate of non-objection (<EM>Unbedenklichkeitsbescheinigung</EM>) in accordance with Section 58 para. 1 sentence 1 AWV or otherwise informed the Bidder that it will not initiate proceedings (<EM>Pr&#252;fverfahren</EM>) within the two months&#8217; time period specified in Section 14a para. 1 number 1 of the German Foreign Trade Act (<EM>Au&#223;enwirtschaftsgesetz</EM> &#8211; &#8220;<STRONG>AWG</STRONG>&#8221;); or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">not initiated such proceedings within such time period; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">informed the Bidder in writing, after initiating such proceedings, that the Transaction will not be prohibited or does not meet the requirements for a prohibition; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">not prohibited the Transaction, after initiating such proceedings, within the four months&#8217; time period specified in Section 14a para. 1 number 2 AWG, as possibly extended pursuant to Section 14a paras. 4, 5 and 6 AWG.</FONT></FONT></TD></TR></TABLE>
<DIV>____________________</DIV>
<BR>

<DIV>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>1</SUP></FONT></TD>

   <TD STYLE="vertical-align: top; width: 100%; text-align: justify">



   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note</FONT></B><B><I><FONT size=2 face="Times New Roman">: </FONT></I></B><I><FONT size=2 face="Times New Roman">Long stop date to be determined by BW/BidCo based on outcome of the currently ongoing regulatory analysis and discussion with BaFin.</FONT></I></P></TD></TR>

<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 100%; text-align: justify">

   </TD></TR>

<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>2</SUP></FONT></TD>

   <TD STYLE="vertical-align: top; width: 100%; text-align: justify">

   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note</FONT></B><B><I><FONT size=2 face="Times New Roman">: </FONT></I></B><I><FONT size=2 face="Times New Roman">Long stop date to be determined by BW/BidCo based on outcome of the currently ongoing regulatory analysis and discussion with BaFin.</FONT></I></P></TD></TR></TABLE><BR>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">20|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

</DIV>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<BR>


<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.3</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"><U>Minimum Acceptance Threshold</U></FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">



   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Upon expiry of the Acceptance Period, the total sum of the AKASOL Shares</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">for which the acceptance of the Offer has been effectively declared in accordance with Section 13.2 of this Offer Document and for which no withdrawal of the agreement entered into as a result of the acceptance of the Offer has been effectively declared,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">held directly by the Bidder or a person acting jointly with the Bidder pursuant to Section 2 para. 5 Wp&#220;G,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">attributable to the Bidder or any Bidder Parent Company in application of Section 30 Wp&#220;G; and</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">for which the Bidder or persons acting jointly with the Bidder pursuant to Section 2 para. 5 Wp&#220;G have concluded a conditional or unconditional agreement with any AKASOL Shareholder outside of the Offer which entitles them to the transfer of title to these AKASOL Shares,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman">is equivalent to at least 50% of the number of AKASOL Shares outstanding at the end of the Acceptance Period plus one (1) AKASOL Share, i.e. at the time of publication of the Offer Document, at least [6,061,856]<SUP>3</SUP> AKASOL Shares. AKASOL Shares which are subject to several of the preceding paragraphs (a) to (d) will be taken into account only once.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.4</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U>No issuance of instruments to receive AKASOL Shares</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, the Bidder has not received a letter from the management board of AKASOL AG nor has AKASOL AG made a public announcement stating that AKASOL has issued, or guaranteed, subscription rights, options, (convertible) bonds or other financial instruments granting a right to receive AKASOL Shares.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left><FONT  size=2 face="Times New Roman">12.1.5</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><U>No adverse shareholders&#8217; meeting resolution</U></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><U></U></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left><FONT  size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, the general meeting of AKASOL has not adopted a resolution approving</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><U></U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a capital increase; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a change of the rights or nature of shares; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a distribution of a cash or non-cash dividend; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a measure pursuant to the German Transformation Act (<EM>Umwandlungsgesetz</EM>); or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top noWrap align=left></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman">(e)</FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">the conclusion of any upstream intercompany agreement within the meaning of Sections 291, 292 AktG (but excluding any such intercompany agreement with a subsidiary of AKASOL); or</FONT></FONT></TD></TR>

<TR>

   <TD vAlign=top noWrap align=left>&nbsp;</TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman">(f)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">to dissolve AKASOL.</FONT></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left><FONT  size=2 face="Times New Roman">12.1.6</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><U><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">No insolvency of AKASOL</FONT></FONT> <FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"></FONT></FONT></U></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, AKASOL has not published any notification pursuant to Article 17 of Regulation (EU) No 596/2014 (&#8220;<STRONG>Market Abuse Regulation</STRONG>&#8221;) according to which</FONT></FONT></TD></TR></TABLE>

<DIV>____________________</DIV>
<BR>

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<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>3</SUP></FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top; width: 100%">



   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note: </FONT></B><I><FONT size=2 face="Times New Roman">Number of issued shares TBD on date of publication of offer document.</FONT></I></P></TD></TR>


</TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">21|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

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<BR>


<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">a loss equaling half of the share capital within the meaning of Section 92 para. 1 AktG has been suffered; or</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">an insolvency proceeding has been instituted against the assets of AKASOL or the management board of AKASOL AG has applied for the institution of such proceeding; or</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">a reason has arisen that would necessitate the filing of an application for the institution of an insolvency proceeding.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"><FONT size=2 face="Times New Roman">12.1.7</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"><U>No market material adverse change</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, neither of the following events has occurred:</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a trading suspension specifically related to the ABBA Shares of more than five consecutive trading days at the Frankfurt Stock Exchange (excluding any general suspension of trading); or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">the closing quote of SDAX (ISIN DE0009653386) in the XETRA trading system of Deutsche B&#246;rse AG, as determined by Deutsche B&#246;rse AG, or a successor thereof, and published on its website (www.deutsche-boerse.com), on more than three consecutive trading days is more than 30% below the closing quote of SDAX as at the last trading day preceding the day of the publication of the decision to launch the Offer pursuant to Section 10 para. 1 sentence 1 Wp&#220;G, i.e., below a SDAX threshold level of [&#9679;]<SUP>4</SUP> points.</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"><FONT  size=2 face="Times New Roman">12.1.8</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><U><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">No target material adverse change</FONT></FONT></U></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT  size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, none of the following events shall have occurred:</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">AKASOL has notified or should have notified the Bidder that AKASOL&#8217;s cumulative order value of framework agreements and call-off agreements agreed with customers (&#8220;<STRONG>Order Backlog</STRONG>&#8221;), determined using the same methodology used to determine the Order Backlog disclosed on page 3 of AKASOL&#8217;s Half Year Financial Report 2020, has fallen below EUR 1.75 billion;</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">(b)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">AKASOL has published any notification pursuant to Article 17 of the Market Abuse Regulation; or</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">circumstances have occurred that would have had to be published by AKASOL pursuant to article 17 para. 1 of the Market Abuse Regulation or where AKASOL decided to delay the publication pursuant to article 17 para. 4 of the Market Abuse Regulation,</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">following in the case of each of clauses (b) and (c) the occurrence of any circumstance (isolated incident) which has had or could reasonably be expected to have a negative impact on AKASOL's unadjusted EBITDA for the financial year 2021 in the amount of at least EUR 15 million (together with the occurrence described in clause (a), each a &#8220;<STRONG>Target Material Ad hoc Obligatory Adverse Change</STRONG>&#8221;). AKASOL&#8217;s unadjusted EBITDA shall be determined in accordance with the same principles as applied in AKASOL&#8217;s [2019] [<STRONG>Note:</STRONG> <EM>If by publication of the offer document the financial accounts 2020 have been published, 2019 should be replaced by 2020</EM>] financial statements.</FONT></FONT></P>

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">Whether during the Acceptance Period a Target Material Ad hoc Obligatory Adverse Change has occurred shall be determined exclusively by an expert opinion of [&#9679; &#8211; <STRONG>Note:</STRONG> <i>Auditor TBD </i></FONT></FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>by BW/BidCo following signing of BCA</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">] as independent expert (&#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Independent Expert</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8220;) applying careful commercial consideration and as set out in Section 12.2.</FONT></P></TD></TR></TABLE>

<DIV>____________________</DIV>
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   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>4</SUP></FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top; width: 100%">



   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note: </FONT></B><I><FONT size=2 face="Times New Roman">Threshold TBD following section 10 announcement.</FONT></I></P></TD></TR>


</TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">22|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

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<!-- Part 07 -->
<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
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     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If (i) the Independent Expert confirms that a Target Material Ad hoc Obligatory Adverse Change has occurred during the Acceptance Period, (ii) the expert opinion of the Independent Expert has been received by the Bidder prior to the expiry of the Acceptance Period, and (iii) the Bidder at the latest until the date of the publication pursuant to Section 23 para. 1 sentence 1 number 2 Wp&#220;G has published the receipt and result of the expert opinion of the Independent Expert, the Offer Condition as set out in this Section 12.1.8 shall be deemed not fulfilled. In all other cases, the Offer Condition as set out in this Section 12.1.8 shall be deemed fulfilled.</FONT></DIV></TD></TR>
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     <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
     <TD STYLE="vertical-align: top; width: 1%"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
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<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">12.1.9</FONT></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U>No Material Compliance Violation</U></FONT></DIV></TD></TR>
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     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U></U></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
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     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, no criminal offence or administrative offence (</FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>Ordnungswidrigkeiten</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">), be it an offense under German criminal or administrative law or other applicable laws, in particular bribery offenses and corruption, embezzlement, anti-trust violations or money laundering, by a member of the governing body or an officer of AKASOL or a subsidiary of AKASOL while any of these persons was operating in their official capacity at AKASOL or a subsidiary of AKASOL, is known to have occurred, provided that any such infringement or criminal or administrative offense (i) constitutes inside information for AKASOL pursuant to Article 7 of the Market Abuse Regulation or (ii) has constituted inside information prior to its publication (&#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Material Compliance Violation</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8221;).</FONT></DIV></TD></TR>
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     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
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     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Whether during the Acceptance Period a Material Compliance Violation has occurred shall be determined exclusively by the Independent Expert as set out in Section 12.2.</FONT></DIV></TD></TR>
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     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
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     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If (i) the Independent Expert confirms that a Material Compliance Violation has occurred during the Acceptance Period, (ii) the expert opinion of the Independent Expert has been received by the Bidder prior to the expiry of the Acceptance Period, and (iii) the Bidder at the latest until the date of the publication pursuant to Section 23 para. 1 sentence 1 number 2 Wp&#220;G has published the receipt and result of the expert opinion of the Independent Expert, the Closing Condition as set out in this Section 12.1.9 shall be deemed not fulfilled. In all other cases, the Closing Condition as set out in this Section 12.1.9 shall be deemed fulfilled.</FONT></DIV></TD></TR>
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<DIV>&nbsp;</DIV></DIV></TD></TR>
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<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">12.1.10 </FONT></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U>Breach of Certain Covenants</U></FONT></DIV></TD></TR>
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     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U></U></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Prior to expiry of the Acceptance Period neither of the following events has occurred (either, a &#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Breach of Certain Covenants</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8221;): </FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">(a)</FONT></DIV></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Sven Schulz and Sven Schulz Group GmbH shall have failed to transfer and assign all intellectual property rights relating to the business of the AKASOL Group (including but not limited to patents, trademarks as well as copyrights) and applications for registration of intellectual property rights that are owned or held by Sven Schulz or Sven Schulz Group GmbH rather than by the AKASOL Group to AKASOL with effect from the Offer Completion.</FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD>
     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">(b)</FONT></DIV></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Any member of the AKASOL Group shall have, without the approval of BorgWarner whose consent shall be deemed granted unless BorgWarner objects to a respective request by AKASOL addressed to Demetri Samohin by email at </FONT><FONT style="font-size: 10pt" face="Times New Roman">dsamohin@borgwarner.com</FONT><FONT style="font-size: 10pt" face="Times New Roman">, with a copy to Tonit Calaway by email at tcalaway@borgwarner.com, within five (5) Business Days from receipt of such request, incurred, assumed or guaranteed any indebtedness for borrowed money, except for (i) borrowings under credit or loan agreements existing and not yet drawn at the Effective Date, which shall not exceed EUR 25 million in the aggregate for the&nbsp;AKASOL Group, (ii) guarantees and factorings not to exceed EUR 10 million in the aggregate for the AKASOL Group, and (iii) indebtedness among AKASOL and any other member of the AKASOL Group.</FONT></DIV></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">23|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>
<HR align=center width="100%" noShade size="2">
<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>

<TABLE style="WIDTH: 100%; LINE-HEIGHT: normal; border-collapse: collapse" cellSpacing=0 cellPadding=0 border=0>

<TR>
   <TD vAlign=top width="1%">
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></DIV></DIV></TD>
   <TD vAlign=top width="99%">
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U></U></FONT></DIV>
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Whether during the Acceptance Period a Breach of Certain Covenants has occurred shall be determined exclusively by the Independent Expert as set out in Section 12.2.</FONT></DIV></DIV></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If (i) the Independent Expert confirms that a Breach of Certain Covenants has occurred during the Acceptance Period, (ii) the expert opinion of the Independent Expert has been received by the Bidder prior to the expiry of the Acceptance Period, and (iii) the Bidder at the latest until the date of the publication pursuant to Section 23 para. 1 sentence 1 number 2 Wp&#220;G has published the receipt and result of the expert opinion of the Independent Expert, the Offer Condition as set out in this Section 12.1.10 shall be deemed not fulfilled. In all other cases, the Offer Condition as set out in this Section 12.1.10 shall be deemed fulfilled.</FONT></DIV></DIV></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>12.2</B></FONT></DIV></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>Independent Expert</B></FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 10pt" face="Times New Roman">12.2.1 </FONT></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">The Independent Expert shall only act upon request by the Bidder. The Bidder shall publish, without undue delay (</FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>unverz&#252;glich</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">) and with reference to this Offer, the commencement of the procedure to determine whether a Target Material Ad hoc Obligatory Adverse Change, a Material Compliance Violation and/or a Breach of Certain Covenants has occurred during the Acceptance Period in the German Federal Gazette and on the internet at http://www.abba-offer.com. In case the Bidder receives an expert opinion of the Independent Expert prior to the expiry of the Acceptance Period which states that during the Acceptance Period a Target Material Ad hoc Obligatory Adverse Change, a Material Compliance Violation and/or a Breach of Certain Covenants has occurred, the Bidder is obliged to publish the fact that it has received such expert opinion and the result of such expert opinion, without undue delay, and in any case on or prior to the date of the publication pursuant to Section 23 para 1 sentence 1 no. 2 Wp&#220;G, and with reference to this Offer, in the German Federal Gazette and on the internet at http://www.abba-offer.com. The expert opinion of the Independent Expert shall be binding and final upon the Bidder and the accepting AKASOL Shareholders. The costs and disbursements of the Independent Expert shall be borne by the Bidder.</FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp; </TD></TR>
<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 10pt" face="Times New Roman"><B>12.3 </B></FONT></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>Nonfulfillment of the Offer Conditions; Waiver of Offer Conditions</B></FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">The Offer Conditions set out in Sections 12.1.1 through 12.1.10 of this Offer Document shall each constitute independent and separable conditions. The Bidder may waive all or individual Offer Conditions in advance &#8211; to the extent permissible &#8211; pursuant to Section 21 para. 1 sentence 1 no. 4 Wp&#220;G as long as such Offer Conditions have not ultimately lapsed.</FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">A waiver is equivalent to the fulfilment of the relevant Offer Condition. If the Bidder waives any of the Offer Conditions within the last two weeks prior to expiry of the Acceptance Period, the Acceptance Period will be extended by two weeks (Section 21 para. 5 Wp&#220;G), </FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>i.e., </I></FONT><FONT style="font-size: 10pt" face="Times New Roman">until [</FONT><FONT style="font-size: 10pt" face="Times New Roman">&#9679;</FONT><FONT style="font-size: 10pt" face="Times New Roman">] 2021, 24:00 hrs (local time Frankfurt am Main) / 18:00 hrs (local time New York).</FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If the Offer Conditions set forth in Section 12.1 of this Offer Document either have not been satisfied on or prior to the applicable date or have definitively lapsed before these dates and the Bidder has not effectively waived them in advance, the Offer shall lapse. In this case, the contracts which come into existence as a result of accepting the Offer will cease to exist and will not be consummated (conditions subsequent); and delivered AKASOL Shares will be returned. The Settlement Agent (as defined in Section 13.1 of this Offer Document) will promptly, at the latest within four Banking Days after announcement of the expiry of the Offer, order the rebooking of the Tendered AKASOL Shares (ISIN [</FONT><FONT style="font-size: 10pt" face="Times New Roman">&#9679;</FONT><FONT style="font-size: 10pt" face="Times New Roman">]) to ISIN DE000A2JNWZ9 by the Custodian Banks (as defined in Section 13.2 of this Offer Document) through Clearstream Banking AG, Frankfurt am Main, Germany (&#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Clearstream</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8221;). The rebooking is generally free
    of costs and expenses of the Custodian Banks for the AKASOL Shareholders who hold their AKASOL Shares in a securities deposit account in the Federal Republic of Germany. Any foreign taxes or costs and fees of foreign Custodian Banks that do not have securities deposit account connections with Clearstream must, however, be paid by the respective AKASOL Shareholders.</FONT></DIV></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">24|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>

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<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 10pt" face="Times New Roman"><B>12.4 </B></FONT></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>Publications concerning Offer Conditions</B></FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 12pt" face="Times New Roman"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">The Bidder will promptly announce on the internet at http://www.abba-offer.com (in German and in an English translation) and in the Federal Gazette (</FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>Bundesanzeiger</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">) if (i) an Offer Condition has been effectively waived in advance, (ii) an Offer Condition has been fulfilled, (iii) all Offer Conditions have either been fulfilled or have been effectively waived in advance or (iv) the Offer is not consummated because an Offer Condition has finally not been fulfilled or lapsed. Likewise, the Bidder will promptly announce at the end of the Acceptance Period, as part of the publication according to Section 23 para. 1 no. 2 Wp&#220;G, which of the Offer Conditions of Section 12.1 of this Offer Document have been fulfilled by such time.</FONT></DIV></TD></TR></TABLE>


 </DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">25|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Felix von Borck</FONT></P>

<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Schedule 15.6 Draft Arbitration Agreement</FONT></B></P>

<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">ARBITRATION AGREEMENT</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">among</FONT></P>



<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(1)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Felix von Borck, born on September 13, 1969, residing at Schreberweg 51, 64289 Darmstadt, Germany (the <STRONG><EM>Shareholder</EM></STRONG>)</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(2)</FONT></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG), a stock corporation (<EM>Aktieng-esellschaft</EM>) incorporated under the laws of Germany, having its registered office at Frankfurt am Main, Germany, and registered with the Local Court of Frankfurt am Main under no. HRB 121819 (the <STRONG><EM>Bidder</EM></STRONG>), and</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify">
&nbsp;
   </TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(3)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify">



   <P><FONT size=2 face="Times New Roman">BorgWarner Inc., a corporation incorporated under the laws of the State of Delaware, United States of America, having its registered office at 3850 Hamlin Road, Auburn Hills, Michigan 48326, United States of America (<STRONG><EM>BW</EM></STRONG> and together with the Bidder the <EM><STRONG>Acquirors</STRONG></EM>)</FONT></P>

   <P><FONT size=2 face="Times New Roman">(the Shareholder, Bidder and BW each a <STRONG><EM>Party</EM></STRONG> and together the <EM><B>Parties</B></EM>).</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">PREAMBLE</FONT></B></P>



<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(A)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">AKASOL AG is a stock corporation (<EM>Aktiengesellschaft</EM>) incorporated under German law, having its registered office at Darmstadt, Germany, and registered with the commercial register of the Local Court of Darmstadt under HRB 97834 (the <STRONG><EM>Target</EM></STRONG>).</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(B)</FONT></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">On 15 February 2021, the Parties entered into the &#8220;Agreement on the Irrevocable Undertaking&#8221; (the <STRONG><EM>Irrevocable Undertaking</EM></STRONG>), where the Bidder inter alia undertakes to make a voluntary public takeover offer within the meaning of Section 29 para. 1 of the German Securities Acquisition and Takeover Act (<EM>Wertpapiererwerbs- und &#220;bernahmegesetz</EM>) for the purchase of all shares issued by the the Target (the <STRONG><EM>Offer</EM></STRONG>), the Shareholder, inter alia, undertakes to accept the Offer in respect of all shares the Shareholder holds in the Target and the Parties, inter alia, give explicit representations and warranties.</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"></FONT></FONT>&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify">

   </TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(C)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">The Parties intend to settle all disputes arising out of or in connection with the Irrevocable Undertaking by arbitration. To fulfil the formal requirements according to Section 1031 para. 5 sentence 1 of the German Civil Procedure Code (<EM>Zivilprozessordnung</EM>), the Parties enter into this separate arbitration agreement:</FONT></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">26</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Felix von Borck</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">All disputes arising out of or in connection with the Irrevocable Undertaking or its validity shall be finally settled in accordance with the Arbitration Rules of the German Arbitration Institute (DIS) without recourse to the ordinary courts of law. Claims of the Parties can be decided in a single arbitration (</FONT><I><FONT size=2 face="Times New Roman">multi-party-arbitration</FONT></I><FONT size=2 face="Times New Roman">). The arbitral tribunal shall be comprised of three members. The seat of the arbitration is Frankfurt am Main, Germany. The language of the arbitration shall be English. The rules of law applicable to the merits shall be the laws of Germany.</FONT></P>

<P style="TEXT-ALIGN: center"><I><FONT size=2 face="Times New Roman">[signatures on the following page]</FONT></I></P>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">27</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Felix von Borck</FONT></P>

<DIV ALIGN="RIGHT">
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 40%">

<TR vAlign=bottom>
   <TD STYLE="border-bottom: Black 1pt solid; width: 100%; text-align: left"><FONT size=2 face="Times New Roman">/s/ Felix von Borck</FONT></TD></TR>

<TR vAlign=bottom>
   <TD STYLE="text-align: left"><FONT size=2 face="Times New Roman">Felix von Borck, Individually</FONT></TD></TR></TABLE>
</DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">28</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Felix von Borck</FONT></P>

<DIV align=right>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR STYLE="vertical-align: bottom">
   <TD COLSPAN="2" STYLE="padding-right: 4pt; vertical-align: bottom; text-align: left"><B><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG)
</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Robert Boyle
</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Robert Boyle
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Member of the Management Board
</FONT></TD></TR>
</TABLE></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">29</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>





<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Felix von Borck</FONT></P>
<DIV ALIGN=RIGHT>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left" colspan=2><B><FONT size=2 face="Times New Roman">BorgWarner Inc.

</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Tonit M. Calaway
</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Tonit M. Calaway
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Executive Vice President, Chief<BR>
Administrative Officer, General Counsel, and<BR>
Secretary
</FONT></TD></TR>
</TABLE>

</DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">30</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">30</FONT></P>
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<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>borg3887841-ex105.htm
<DESCRIPTION>AGREEMENT ON THE IRREVOCABLE UNDERTAKING, DATED FEBRUARY 15, 2021, DR. BJ&#246;RN
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<P style="TEXT-ALIGN: right"><B><FONT size=2 face="Times New Roman">Exhibit 10.5</FONT></B></P>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Dr Bj&#246;rn Eberleh</FONT></P>
<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">AGREEMENT<BR>ON THE<BR></FONT></B><B><FONT size=2 face="Times New Roman">IRREVOCABLE UNDERTAKING</FONT></B></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">among</FONT></P>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(1)</FONT></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Dr Bj&#246;rn Eberleh, born on January 19, 1976, residing at Bickenbacher Stra&#223;e 40, 64665 Alsbach-H&#228;hnlein, Germany (the </FONT><B><I><FONT size=2 face="Times New Roman">Shareholder</FONT></I></B><FONT size=2 face="Times New Roman">);</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="99%" align=left></TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(2)</FONT></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG), a stock corporation (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesellschaft</FONT></I><FONT size=2 face="Times New Roman">) incorporated under the laws of Germany, having its registered office at Frankfurt am Main, Germany, and registered with the Local Court of Frankfurt am Main under no. HRB 121819 (the </FONT><B><I><FONT size=2 face="Times New Roman">Bidder</FONT></I></B><FONT size=2 face="Times New Roman">); and</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(3)</FONT></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">BorgWarner Inc., a corporation incorporated under the laws of the State of Delaware, United States of America, having its registered office at 3850 Hamlin Road, Auburn Hills, Michigan 48326, United States of America (</FONT><B><I><FONT size=2 face="Times New Roman">BW </FONT></I></B><FONT size=2 face="Times New Roman">and together with the Bidder the </FONT><B><I><FONT size=2 face="Times New Roman">Acquirors</FONT></I></B><FONT size=2 face="Times New Roman">)</FONT></P>


   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">(the Shareholder, Bidder and BW each a </FONT><B><I><FONT size=2 face="Times New Roman">Party </FONT></I></B><FONT size=2 face="Times New Roman">and together the </FONT><B><I><FONT size=2 face="Times New Roman">Parties</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">PREAMBLE</FONT></B></P>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(A)</FONT></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">AKASOL AG is a stock corporation (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesellschaft</FONT></I><FONT size=2 face="Times New Roman">) incorporated under the laws of Germany, having its registered office at Darmstadt, Germany, and registered with the commercial register of the Local Court of Darmstadt under HRB 97834 (the </FONT><B><I><FONT size=2 face="Times New Roman">Target</FONT></I></B><FONT size=2 face="Times New Roman">, and including its subsidiaries from time to time </FONT><B><I><FONT size=2 face="Times New Roman">Target Group</FONT></I></B><FONT size=2 face="Times New Roman">). The share capital (</FONT><I><FONT size=2 face="Times New Roman">Grundkapital</FONT></I><FONT size=2 face="Times New Roman">) of the Target amounts to EUR 6,061,856 and is divided into 6,061,856 non-par value bearer shares (</FONT><I><FONT size=2 face="Times New Roman">auf den Inhaber lautende St&#252;ckaktien</FONT></I><FONT size=2 face="Times New Roman">) with a proportionate amount of EUR 1.00 per share of the share capital (each a </FONT><B><I><FONT size=2 face="Times New Roman">Target Share </FONT></I></B><FONT size=2 face="Times New Roman">and collectively </FONT><B><I><FONT size=2 face="Times New Roman">Target Shares</FONT></I></B><FONT size=2 face="Times New Roman">). The Target Shares are admitted to trading on the regulated market (</FONT><I><FONT size=2 face="Times New Roman">Regulierter Markt</FONT></I><FONT size=2 face="Times New Roman">) with additional post-admission obligations (Prime Standard) of the Frankfurt Stock Exchange under ISIN DE000A2JNWZ9).</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="99%" align=left></TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(B)</FONT></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder holds a total of 158.941 Target Shares (the </FONT><B><I><FONT size=2 face="Times New Roman">Shareholder</FONT></I></B><B><I><FONT size=2 face="Times New Roman">&#8217;</FONT></I></B><B><I><FONT size=2 face="Times New Roman">s Shares</FONT></I></B><FONT size=2 face="Times New Roman">). The Shareholder</FONT><FONT size=2 face="Times New Roman">&#8217;</FONT><FONT size=2 face="Times New Roman">s Shares represent approximately 2.62 per cent of the issued and outstanding share capital of the Target as of the Effective Date (as defined in clause </FONT><FONT size=2 face="Times New Roman">1.1(a))</FONT><FONT size=2 face="Times New Roman"> and are held in a securities deposit with Volksbank Darmstadt in Germany, as confirmed by the deposit confirmation issued by Volksbank Darmstadt, Germany and attached hereto as </FONT><B><U><FONT size=2 face="Times New Roman">Schedule B</FONT></U></B><FONT size=2 face="Times New Roman">.</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left>&nbsp;</TD>
   <TD vAlign=top width="99%" align=left></TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(C)</FONT></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Bidder, an indirectly wholly-owned subsidiary of BW, considers to make a voluntary public takeover offer within the meaning of Section 29 para. 1 of the German Securities Acquisition and Takeover Act (</FONT><I><FONT size=2 face="Times New Roman">Wertpapiererwerbs- und &#220;bernahmegesetz</FONT></I><FONT size=2 face="Times New Roman">, </FONT><B><I><FONT size=2 face="Times New Roman">Wp&#220;G</FONT></I></B><FONT size=2 face="Times New Roman">) for the purchase of all Target Shares against cash consideration per Target Share (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(D)</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder intends to tender all Shareholder</FONT><FONT size=2 face="Times New Roman">&#8217;</FONT><FONT size=2 face="Times New Roman">s Shares into the Offer subject to the terms and conditions agreed herein.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">1</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
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<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Dr Bj&#246;rn Eberleh</FONT></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Now, therefore, the Parties enter into this agreement on the acceptance of a potential public takeover offer (the </FONT><B><I><FONT size=2 face="Times New Roman">Agreement</FONT></I></B><FONT size=2 face="Times New Roman">):</FONT></P>
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   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">1.</FONT></B></TD>
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   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Bidder</FONT></B><B><FONT size=2 face="Times New Roman">&#8217;s Obligations regarding the Offer</FONT></B></P></TD></TR>
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   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">1.1</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Bidder hereby undertakes to</FONT></P></TD></TR>
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   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(a)</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">announce its intention to launch the Offer in accordance with Section 10 para. 1 sentence 1 and para. 3 sentence 1 Wp&#220;G immediately after execution of this Agreement (the </FONT><B><I><FONT size=2 face="Times New Roman">Effective Date</FONT></I></B><FONT size=2 face="Times New Roman">);</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="98%" align=left></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(b)</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">submit a formal offer document (</FONT><I><FONT size=2 face="Times New Roman">Angebotsunterlage</FONT></I><FONT size=2 face="Times New Roman">) describing the terms and conditions of the Offer (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer Document</FONT></I></B><FONT size=2 face="Times New Roman">) and which has been prepared in accordance with the Takeover Act and the German Regulation on the Content of the Offer Document, the Consideration for Takeover Offers and Mandatory Offers and the Release from the Obligation to Publish and Submit a Tender Offer (</FONT><B><I><FONT size=2 face="Times New Roman">Wp&#220;G-Angebotsverordnung</FONT></I></B><FONT size=2 face="Times New Roman">) to the German Federal Financial Supervisory Authority (</FONT><I><FONT size=2 face="Times New Roman">Bun-desanstalt f&#252;r Finanzdienstleistungsaufsicht </FONT></I><I><FONT size=2 face="Times New Roman">&#8211; </FONT></I><B><I><FONT size=2 face="Times New Roman">BaFin</FONT></I></B><FONT size=2 face="Times New Roman">) for its review within the time period prescribed in Section 14 para. 1 Wp&#220;G and which shall have a maximum offer period (Section 16 para. 1 Wp&#220;G) of six (6) weeks and which reflects the terms and conditions of this Agreement, in particular as set forth in clauses </FONT><FONT size=2 face="Times New Roman">1.2</FONT><FONT size=2 face="Times New Roman"> and </FONT><FONT size=2 face="Times New Roman">1.3</FONT><FONT size=2 face="Times New Roman"> and shall otherwise correspond to the requirements set forth in the Business Combination Agreement executed on or about the date hereof between the Target and the Acquirors (</FONT><B><I><FONT size=2 face="Times New Roman">Business Combination Agreement</FONT></I></B><FONT size=2 face="Times New Roman">);</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(c)</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">not apply for any extension of the notice period by the BaFin pursuant to Section 14 para. 1 sentence 3 Wp&#220;G, unless the Shareholder gives its prior written consent;</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
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   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(d)</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">publish the Offer Document within the time period prescribed in Section 14 para. 2 Wp&#220;G, provided that the publication of the Offer Document is not prohibited by the BaFin; and</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(e)</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">settle the Offer by payment of the Offer Price (as defined in clause 1.3) (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer Completion</FONT></I></B><FONT size=2 face="Times New Roman">) against simultaneous transfer of the tendered Target Shares without undue delay and in any event no later than seven (7) Business Days (meaning a day on which banks in Frankfurt am Main, Germany, are open for general commercial business), which obligation shall arise only after (i) the additional acceptance period within the meaning of Section 16 para. 2 Wp&#220;G has expired and (ii) all Offer Conditions have been satisfied or validly waived.</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">1.2</FONT></TD>
   <TD vAlign=top width="99%" colSpan=2 align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Offer Document shall only contain those conditions within the meaning of Section 18 para. 1 Wp&#220;G (</FONT><I><FONT size=2 face="Times New Roman">Angebotsbedingungen</FONT></I><FONT size=2 face="Times New Roman">) as set out in </FONT><B><U><FONT size=2 face="Times New Roman">Schedule 1.2</FONT></U></B><B><FONT size=2 face="Times New Roman">. </FONT></B><FONT size=2 face="Times New Roman">For the avoidance of doubt, the Offer Document shall not provide for a minimum acceptance threshold (</FONT><I><FONT size=2 face="Times New Roman">Mindestannahmeschwelle</FONT></I><FONT size=2 face="Times New Roman">) in excess of a number of Target Shares equal to the sum of 50% of the number of Target Shares issued plus one Target Share.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">2</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Dr Bj&#246;rn Eberleh</FONT></P>
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<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">1.3</FONT></TD>
   <TD vAlign=top width="99%" colSpan=2 align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The consideration per share (</FONT><I><FONT size=2 face="Times New Roman">Gegenleistung</FONT></I><FONT size=2 face="Times New Roman">) to be offered to the shareholders of the Target in the Offer Document shall be in cash only and shall be at least EUR 120.00 per Target Share (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer Price</FONT></I></B><FONT size=2 face="Times New Roman">). For the avoidance of doubt, the Shareholder shall not be obliged to accept the Offer if the consideration per share in the Offer Document is below the Offer Price. In the event of (x) any subsequent voluntary increases of the Offer Price or (y) any mandatory increases of the Offer Price pursuant to Section 31 para. 1, 4 through 7 Wp&#220;G and Sections 3 to 5 Wp&#220;G-Angebotsverordnung, the Shareholder hereby irrevocably waives its right to receive any consideration exceeding the Offer Price and shall be obligated to pay back to the Bidder within four (4) Business Days after the </FONT><FONT size=2 face="Times New Roman">Offer Completion, with respect to each of Shareholder&#8217;s Shares, an </FONT><FONT size=2 face="Times New Roman">amount equal to the difference between the initial Offer Price of EUR 120.00 per Target Share and the increased offer price paid by the Bidder at the Offer Completion.</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="98%" align=left></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">1.4</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">BW hereby guarantees by way of an independent promise of guarantee (</FONT><I><FONT size=2 face="Times New Roman">selbst&#228;ndiges Garantieversprechen</FONT></I><FONT size=2 face="Times New Roman">) within the meaning of Section 311 para. 1 German Civil Code (</FONT><I><FONT size=2 face="Times New Roman">B&#252;rgerliches Gesetzbuch</FONT></I><FONT size=2 face="Times New Roman">, </FONT><B><I><FONT size=2 face="Times New Roman">BGB</FONT></I></B><FONT size=2 face="Times New Roman">) that the Bidder will be in position to finance the settlement of the Offer and that a securities services enterprise independent from the Acquirors and their affiliates within the meaning of Section 15 German Stock Corporation Act (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesetz) (</FONT></I><B><I><FONT size=2 face="Times New Roman">Affliliates</FONT></I></B><FONT size=2 face="Times New Roman">) will issue a financing confirmation in accordance with Section 13 Wp&#220;G (the </FONT><B><I><FONT size=2 face="Times New Roman">Financing Confirmation</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">2.</FONT></B></TD>
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   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Shareholder</FONT></B><B><FONT size=2 face="Times New Roman">&#8217;</FONT></B><B><FONT size=2 face="Times New Roman">s Obligations regarding the Acceptance of the Offer</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">2.1</FONT></TD>
   <TD vAlign=top width="99%" colSpan=2 align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Subject to the Offer Document having been published and fulfilling the requirements set forth in clause </FONT><FONT size=2 face="Times New Roman">1.1(b),</FONT><FONT size=2 face="Times New Roman"> the Shareholder hereby undertakes:</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left>&nbsp;</TD>
   <TD vAlign=top width="98%" align=left></TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD vAlign=top width="98%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">to accept the Offer in respect of all </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s Shares </FONT><FONT size=2 face="Times New Roman">pursuant to the terms and provisions of the Offer Document no later than within three (3) </FONT><B><I><FONT size=2 face="Times New Roman">Business Days </FONT></I></B><FONT size=2 face="Times New Roman">(i.e. days on which banks are open for business in Frankfurt am Main) after commencement of the acceptance period pursuant to Section 16 para. 1 Wp&#220;G;</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD vAlign=top width="98%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">not to challenge (</FONT><I><FONT size=2 face="Times New Roman">anfechten</FONT></I><FONT size=2 face="Times New Roman">) or withdraw from (</FONT><I><FONT size=2 face="Times New Roman">zur&#252;cktreten</FONT></I><FONT size=2 face="Times New Roman">) any such acceptance, including pursuant to Section 21 para. 4 Wp&#220;G and Section 22 para. 3 Wp&#220;G, and thereby to waive any withdrawal that may exist under the Wp&#220;G or other legislation with regard to the agreements resulting from acceptance of the Offer; however, should the Bidder increase the Offer, the Shareholder shall be entitled to withdraw from the Offer pursuant to section 21 para. 4 Wp&#220;G; in such case, the Shareholder undertakes to accept the Bidder&#180;s increased Offer immediately after the withdrawal but at the latest three (3) Business Days after the publication of the amendment to the Offer; and</FONT></P></TD></TR>
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   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(c)</FONT></TD>
   <TD vAlign=top width="98%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">to the extent legally permissible, to abstain from any act which should reasonably be expected to materially jeopardize or adversely affect the success of the Offer (in particular the satisfaction of the offer conditions pursuant to clause 1.2).</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">3</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Dr Bj&#246;rn Eberleh</FONT></P>
<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">2.2</FONT></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">For the avoidance of doubt, the Parties confirm that this Agreement does not constitute a sale and purchase and/or transfer agreement and/or option agreement for the </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s Shares</FONT><FONT size=2 face="Times New Roman">, which shall exclusively be executed under the terms of the Offer Document.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="99%" align=left></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">2.3</FONT></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder shall immediately notify the Acquirors after the Shareholder accepts the Offer in accordance with clause 2.1.(a).</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">2.4</FONT></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">With regard to the undertaking pursuant to clause </FONT><FONT size=2 face="Times New Roman">2.1(a)</FONT><FONT size=2 face="Times New Roman"> and the acceptance of the Offer, no consent according to Section 1365 BGB by Shareholder</FONT><FONT size=2 face="Times New Roman">&#8217;</FONT><FONT size=2 face="Times New Roman">s spouse is required</FONT><B><FONT size=2 face="Times New Roman">.</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;</TD>
   <TD vAlign=top width="99%" align=left></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">3.</FONT></B></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Lock up, Standstill, Non-compete</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">3.1</FONT></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">From the Effective Date until the earlier of (i) Offer Completion and (ii) the termination of this Agreement in accordance with its terms, the Shareholder shall not sell, transfer, charge, encumber, grant any option over or otherwise dispose of any interest in any of the </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s </FONT><FONT size=2 face="Times New Roman">Shares, other than pursuant to its acceptance of the Offer or of an increased or otherwise revised Offer.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">3.2</FONT></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">From the Effective Date until the earlier of (i) Offer Completion and (ii) three (3) months following the termination of this Agreement in accordance with its terms, the Shareholder shall not buy or acquire any Target Shares or shares in its subsidiaries or any specific financial instruments relating to such shares, unless BW gives its prior written consent.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;</TD>
   <TD vAlign=top width="99%" align=left></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">3.3</FONT></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">For a period of two (2) years from the date of Offer Completion, the Shareholder shall not, and shall procure that none of its respective Affiliates, directly or indirectly, develop, manufacture, market, sell or distribute products which are of the same kind as products developed, manufactured, marketed, sold or distributed (or are in an advanced stage for sale or distribution) by the Target or its Affiliates at the date of Offer Completion including improved versions or updates as well as successor models, and including, furthermore, products which are fully developed but not yet marketed (together </FONT><B><I><FONT size=2 face="Times New Roman">Relevant Products</FONT></I></B><FONT size=2 face="Times New Roman">). The Shareholder shall not, and shall procure that none of its respective Affiliates will, directly or indirectly, hold or acquire any shares or interests in a company which develops, manufactures, markets, sells or distributes Relevant Products, unless the shares or interests are acquired or held purely for financial investment purposes and do not grant the acquirer, directly or indirectly, management functions or any material influence in the competing company.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">3.4</FONT></TD>
   <TD vAlign=top width="99%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Clause 3.3 applies only to the territorial area in which the Company or its Affiliates carry out business activities at the time of Offer Completion or territorial areas where the Company or its Affiliates were planning to enter at such time, provided they already made investments or otherwise incurred expenses in relation to the entry into the relevant territorial area. The Parties are in agreement that any entitlement that the Shareholder may have to a non-compete compensation shall be settled by the purchase price.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">4</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Dr Bj&#246;rn Eberleh</FONT></P>
<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">4.</FONT></B></TD>
   <TD vAlign=top width="99%" colSpan=2 align=left>

   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Representations and Warranties by the Shareholder; Remedies</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">4.1</FONT></TD>
   <TD vAlign=top width="99%" colSpan=2 align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Shareholder&#8217;s </FONT><FONT size=2 face="Times New Roman">Guarantees</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;</TD>
   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" colSpan=2 align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder hereby guarantees to the Acquirors by way of an independent promise of guarantee (</FONT><I><FONT size=2 face="Times New Roman">selbst&#228;ndiges Garantieversprechen</FONT></I><FONT size=2 face="Times New Roman">) within the meaning of Section 311 para. 1 BGB that as of the Effective Date the statements made below are, and as of the date of the Offer Completion will continue to be, true, complete and not misleading:</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD vAlign=top width="98%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">No bankruptcy, insolvency or similar proceedings in any jurisdiction have been commenced or applied for with respect to the Shareholder and the Shareholder is not unable to pay its due debts (</FONT><I><FONT size=2 face="Times New Roman">zahlungsunf&#228;hig</FONT></I><FONT size=2 face="Times New Roman">) or for other reasons compelled to apply for the commencement of bankruptcy, insolvency or similar proceedings under applicable law. To the Knowledge of the Shareholder (as defined in clause 4.2), as of the Effective Date, no bankruptcy, insolvency or similar filings have been threatened in writing with respect to the Shareholder.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="98%" align=left></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD vAlign=top width="98%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The information contained in Preamble (B) is correct and not misleading.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(c)</FONT></TD>
   <TD vAlign=top width="98%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder is the sole legal and beneficial owner of the Share</FONT><FONT size=2 face="Times New Roman">holder&#8217;s Shares.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(d)</FONT></TD>
   <TD vAlign=top width="98%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s Shares </FONT><FONT size=2 face="Times New Roman">have been fully paid up and no contributions have been returned (</FONT><I><FONT size=2 face="Times New Roman">Einlagenr&#252;ckgew&#228;hr</FONT></I><FONT size=2 face="Times New Roman">) in respect thereof.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(e)</FONT></TD>
   <TD vAlign=top width="98%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder is entitled to freely dispose of the Shareholder</FONT><FONT size=2 face="Times New Roman">&#8217;s </FONT><FONT size=2 face="Times New Roman">Shares subject only to restrictions under applicable law (including merger control and other regulatory laws). The </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s </FONT><FONT size=2 face="Times New Roman">Shares are (i) free of any rights of third parties, including but not limited to liens, charges and other encumbrances (</FONT><I><FONT size=2 face="Times New Roman">dingliche Belastungen</FONT></I><FONT size=2 face="Times New Roman">), except for security interest of Clearstream Banking AG and/or the Shareholders depositary bank (if any), and (ii) not subject to any options, pre-emption rights, rights of first refusal or similar rights of third parties.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(f)</FONT></TD>
   <TD vAlign=top width="98%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s </FONT><FONT size=2 face="Times New Roman">Shares are held by the Shareholder for its own risk and account and are not subject to any shareholders</FONT><FONT size=2 face="Times New Roman">&#8217; </FONT><FONT size=2 face="Times New Roman">voting, trust, pooling, consultation or similar agreements or arrangements.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(g)</FONT></TD>
   <TD vAlign=top width="98%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">As of the Signing Date, the Shareholder&#8217;s entering into this Agreement </FONT><FONT size=2 face="Times New Roman">and </FONT><FONT size=2 face="Times New Roman">the performance of the Shareholder&#8217;s respective obligations hereun</FONT><FONT size=2 face="Times New Roman">der neither require any approval or consent by any court, governmental authority or other third party (except for approvals or consents which are Offer Conditions) nor violate any judicial or governmental order or decree or any applicable law.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(h)</FONT></TD>
   <TD vAlign=top width="98%" align=left>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">To the Knowledge of the Shareholder, on the Effective Date and on the date of Offer Completion, all notice and disclosure duties of the Shareholder under Section 20, 21 of the AktG, Section 33 et seq. of the Securities Trading Act (</FONT><I><FONT size=2 face="Times New Roman">Wertpapierhandelsgesetz, WpHG</FONT></I><FONT size=2 face="Times New Roman">), if applicable and as amended from time to time, have always been discharged in a timely and proper manner.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">5</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<!-- PART 02 -->


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Dr Bj&#246;rn Eberleh</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: normal; border-collapse: collapse; width: 100%">

<TR>
   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap"></TD>
   <TD STYLE="vertical-align: top; width: 2%; white-space: nowrap"><FONT size=2 face="Times New Roman">(i)</FONT></TD>
   <TD STYLE="width: 97%">
   <P align=justify><FONT size=2 face="Times New Roman">Except for the </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s </FONT><FONT size=2 face="Times New Roman">existing employment agreement entered into between the Target and the Shareholder, there are no agreements between (i) the Target Group on the one hand and (ii) the Shareholder and/or their respective Affiliates, any person close (</FONT><I><FONT size=2 face="Times New Roman">nahestehend</FONT></I><FONT size=2 face="Times New Roman">) to the Shareholder and/or their respective Affiliates or any of their direct or indirect shareholders within the meaning of IAS 24 or affiliated companies within the meaning of section 15 </FONT><I><FONT size=2 face="Times New Roman">et. seq</FONT></I><FONT size=2 face="Times New Roman">. of the AktG of such persons (the persons under this clause 4.2(d)(ii) collectively the </FONT><B><I><FONT size=2 face="Times New Roman">Related Persons</FONT></I></B><FONT size=2 face="Times New Roman">) on the other hand (collectively the </FONT><B><I><FONT size=2 face="Times New Roman">Related Persons Agreements</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD STYLE="vertical-align: top; white-space: nowrap">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD></TD></TR>
<TR>
   <TD STYLE="vertical-align: top; white-space: nowrap"></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap"><FONT size=2 face="Times New Roman">(j)</FONT></TD>
   <TD>
   <P align=justify><B><U><FONT size=2 face="Times New Roman">Schedule 4.1(j)</FONT></U></B><FONT size=2 face="Times New Roman"> contains a complete and correct list of all intellectual property rights relating to the business of the Target Group (including but not limited to patents, trademarks as well as copyrights) and applications for registration of intellectual property rights that are owned or held by the Shareholder rather than by the Target Group (collectively the </FONT><B><I><FONT size=2 face="Times New Roman">Shareholder IP</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR></TABLE>
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<TR>
   <TD vAlign=top width="2%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD vAlign=top width="2%" noWrap><FONT size=2 face="Times New Roman">4.2</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">Knowledge of Shareholder</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="2%" noWrap></TD>
   <TD width="98%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="2%" noWrap></TD>
   <TD width="98%">
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">In this Agreement, the Shareholder shall be deemed to have had Knowledge of the Shareholder if, as of the Effective Date, the Shareholder had actual knowledge (</FONT><I><FONT size=2 face="Times New Roman">positive Kenntnis</FONT></I><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR></TABLE>
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<TR>
   <TD vAlign=top width="2%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD vAlign=top width="2%" noWrap><FONT size=2 face="Times New Roman">4.3</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">No Further Representations</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="2%" noWrap></TD>
   <TD width="98%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="2%" noWrap></TD>
   <TD width="98%">
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder makes no representations and warranties or guarantees other than those expressly and conclusively set forth in clause 4.1. The Parties agree that the statements contained in clause 4.1 shall not constitute a quality guarantee concerning the purchase object within the meanings of Sections 443 and 444 of the German Civil Code (</FONT><I><FONT size=2 face="Times New Roman">BGB</FONT></I><FONT size=2 face="Times New Roman">) (</FONT><I><FONT size=2 face="Times New Roman">keine Garantie f&#252;r die Beschaffenheit oder Haltbarkeit des Kaufgegenstandes</FONT></I><FONT size=2 face="Times New Roman">)</FONT></P></TD></TR></TABLE>
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<TR>
   <TD vAlign=top width="2%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD vAlign=top width="2%" noWrap><FONT size=2 face="Times New Roman">4.4</FONT></TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">Remedies</FONT></P></TD></TR></TABLE>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="2%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="97%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="2%" noWrap><FONT size=2 face="Times New Roman">(a)</FONT></TD>
   <TD width="97%">
   <P align=justify><FONT size=2 face="Times New Roman">If the Shareholder is in breach of any its guarantees set forth in clause 4.1 or is otherwise in breach of its obligations under this Agreement, the Shareholder shall, at his discretion, either</FONT></P></TD></TR></TABLE>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="2%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="97%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="2%" noWrap><FONT size=2 face="Times New Roman">(i)</FONT></TD>
   <TD width="97%">
   <P align=justify><FONT size=2 face="Times New Roman">no later than twenty (20) Business Days after being notified by BW of such breach in writing, put the Acquirors in such position it would have been in without such breach ((restitution in kind </FONT><FONT size=2 face="Times New Roman">&#8211; <EM>Naturalrestitution</EM>) or</FONT></P></TD></TR>
<TR>
   <TD width="1%"></TD>
   <TD width="2%"></TD>
   <TD width="97%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="2%" noWrap><FONT size=2 face="Times New Roman">(ii)</FONT></TD>
   <TD width="97%">
   <P align=justify><FONT size=2 face="Times New Roman">if and to the extent such restitution in kind is impossible or the Shareholder refuses such restitution or if such restitution is not achieved within twenty (20) Business Days after the Shareholder having been notified of such breach, pay to Bidder (as reduction of the Offer Consideration) monetary damages (</FONT><I><FONT size=2 face="Times New Roman">positives Interesse</FONT></I><FONT size=2 face="Times New Roman">), within the meaning of Section 249 et seq. BGB, arising out of such breach, including any foreseeable consequential or indirect damages (</FONT><I><FONT size=2 face="Times New Roman">vorhersehbare Folgesch&#228;den oder vorherseebare mittelbare Sch&#228;den</FONT></I><FONT size=2 face="Times New Roman">), however, excluding (i) any lost profits (Section 252 BGB), (ii) any internal administration or overhead costs and (iii) taxes or similar charges on indemnification payments.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">6</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Dr Bj&#246;rn Eberleh</FONT></P>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(b)</FONT> </TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">The aggregate liability of the Shareholder under this Agreement for breaches of the </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s </FONT><FONT size=2 face="Times New Roman">guarantees in clauses 4.1(f) through </FONT><FONT size=2 face="Times New Roman">4.1(j)</FONT><FONT size=2 face="Times New Roman"> </FONT><FONT size=2 face="Times New Roman">shall be limited to twenty-five per cent (25%) of the Offer Price multiplied by the nu</FONT><FONT size=2 face="Times New Roman">mber of Shareholder&#8217;s Shares actually paid to the Shareholder upon acceptance of the Offer. The aggregate liability of the Shareholder under this Agreement for breaches of the Shareholder&#8217;s guarantees in clauses 4.1(a) through 4.1(e) shall be limited to one hundred percent (100%) of the Offer Price multiplied by the number of Shareholder&#8217;s Shares actually paid to the Shareholder upon acceptance of the Offer. Furthermore, the aggregate liability of the Shareholder for any breaches under this Agreement collectively shall be limited to one hundred percent (100%) of the Offer Price multiplied by the number of Shareholder&#8217;s Shares actually paid to the Shareholder upon acceptance of the Offer.</FONT></P></TD></TR>
<TR>
   <TD width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(c)</FONT> </TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">The Parties agree that the rights and remedies which the Acquirors may have with respect to a breach by the Shareholder of its obligations under this Agreement are limited to the rights and remedies specified in this clause </FONT><FONT size=2 face="Times New Roman">4.4. </FONT><FONT size=2 face="Times New Roman">Subject to the preceding sentence, with respect to the subject matter of this Agreement, any all and all rights and remedies of any legal nature (other than the rights and claims expressly set forth in this Agreement) of the Acquirors against the Shareholder shall be expressly excluded.</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD width="98%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(d)</FONT> </TD>
   <TD width="98%">
   <P align=justify><FONT size=2 face="Times New Roman">The limitations set forth in this clause </FONT><FONT size=2 face="Times New Roman">4.4 </FONT><FONT size=2 face="Times New Roman">shall not apply in case of fraud (</FONT><I><FONT size=2 face="Times New Roman">arglistige T&#228;uschung</FONT></I><FONT size=2 face="Times New Roman">) or wilful misconduct (</FONT><I><FONT size=2 face="Times New Roman">Vorsatz</FONT></I><FONT size=2 face="Times New Roman">) of the Shareholder. </FONT></P></TD></TR></TABLE>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD vAlign=top width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="99%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap><B><FONT size=2 face="Times New Roman">5.</FONT></B> </TD>
   <TD width="99%">
   <P align=justify><B><FONT size=2 face="Times New Roman">Representations and Warranties by the Acquirors; Remedies</FONT></B></P></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">5.1</FONT> </TD>
   <TD width="99%">
   <P align=justify><FONT size=2 face="Times New Roman">Acquiror</FONT><FONT size=2 face="Times New Roman">s&#8217; Guarantees</FONT></P></TD></TR>
<TR>
   <TD width="1%"></TD>
   <TD width="99%">&nbsp;</TD></TR>
<TR>
   <TD width="1%">&nbsp;</TD>
   <TD width="99%">
   <P align=justify><FONT size=2 face="Times New Roman">The Acquirors hereby guarantee to the Shareholder by way of an independent promise of guarantee (</FONT><I><FONT size=2 face="Times New Roman">selbst&#228;ndiges Garantieversprechen</FONT></I><FONT size=2 face="Times New Roman">) within the meaning of Section 311 para. 1 BGB that as of the Effective Date the statements made below are, and as of the date of the Offer Completion will continue to be, true, complete and not misleading:</FONT></P></TD></TR></TABLE>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR>
   <TD width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="1%" noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="98%"></TD></TR>
<TR>
   <TD vAlign=top width="1%" noWrap></TD>
   <TD vAlign=top width="1%" noWrap><FONT size=2 face="Times New Roman">(a)</FONT> </TD>
   <TD width="98%">
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Bidder is a stock corporation (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesellschaft</FONT></I><FONT size=2 face="Times New Roman">), duly incorporated and existing under the laws of Germany, duly represented by its board of directors. BW is a corporation incorporated under the laws of the State of Delaware, United States of America and duly represented by its board of directors. BW, indirectly through BorgWarner US Holding LLC, a corporation incorporated under the laws of the State of Delaware, United States of America, having its registered office at 3850 Hamlin Road, Auburn Hills, Michigan 48326, United States of America, has unrestricted ownership of all shares in the Bidder.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">7</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Dr Bj&#246;rn Eberleh</FONT></P>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(b)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">No bankruptcy, insolvency or similar proceedings in any jurisdiction have been commenced or applied for with respect to either of the Acquirors and neither of the Acquirors is over-indebted (</FONT><I><FONT size=2 face="Times New Roman">&#252;berschuldet</FONT></I><FONT size=2 face="Times New Roman">) or unable to pay its due debts (</FONT><I><FONT size=2 face="Times New Roman">zahlungsunf&#228;hig</FONT></I><FONT size=2 face="Times New Roman">) or for other reasons compelled to apply for the commencement of bankruptcy, insolvency or similar proceedings under applicable law. To the Knowledge of either of the Acquirors (as defined in clause 5.2), as of the Effective Date, no bankruptcy, insolvency or similar filings have been threatened in writing with respect to either of the Acquirors.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="98%" align=left></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(c)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Both of the Acquirors have full authority and capacity to enter into and perform their respective obligations under this Irrevocable, including the consummation of the Offer. The Acquirors' entering into this Agreement and the performance of the Acquirors' respective obligations hereunder do not violate the articles of association (or similar document) or bylaws of either of the Acquirors and have been duly authorized by all necessary corporate actions on the part of each of the Acquirors. As of the Signing Date, the Acquirors' entering into this Agreement and the performance of the Acquirors' respective obligations hereunder neither require any approval or consent by any court, governmental authority or other third party (except for approvals or consents which are Offer Conditions) or violate any judicial or governmental order or decree or any applicable law.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(d)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Acquirors have complied in all material respects with all capital market laws and regulations in Germany and the United States of America applicable to any transaction contemplated by this Agreement including, but not limited to, notification requirements, insider trading and market manipulation rules. None of the Acquirors, any Affiliate of either of the Acquirors, or any entity acting collectively with the Acquirors within the meaning of Section 2 para. 5 Wp&#220;G has before the signing of this Agreement acquired or agreed to acquire or will acquire within a period that will be relevant under the minimum pricing rules pursuant to Section 31 Wp&#220;G and Section 3 et seq. of the Takeover Regulation (</FONT><I><FONT size=2 face="Times New Roman">Wp&#220;G-Angebotsverordnung</FONT></I><FONT size=2 face="Times New Roman">) any Target Shares for a consideration per share exceeding the Offer Price.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="98%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(e)</FONT></TD>
   <TD vAlign=top width="98%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Bidder is acquiring the </FONT><FONT size=2 face="Times New Roman">Shareholder&#8217;s </FONT><FONT size=2 face="Times New Roman">Shares for its own account as well as for investment and not with a view to any sale, distribution or other disposal thereof. Neither of the Acquirors is acting in the interest or for the account of any unaffiliated third party. BW has no intention to sell, distribute other otherwise dispose of any shares held in the Bidder to an entity outside its group.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">8</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Dr Bj&#246;rn Eberleh</FONT></P>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">5.2</FONT></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Knowledge of the Acquirors</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="99%" align=left></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">In this Agreement, the Acquirors shall be deemed to have had Knowledge of either Acquiror, as of the Effective Date, any executive officer of BW or any member of </FONT><FONT size=2 face="Times New Roman">Bidder&#8217;s </FONT><FONT size=2 face="Times New Roman">management board (as the case may be) had actual knowledge </FONT><I><FONT size=2 face="Times New Roman">(positive Kenntnis</FONT></I><FONT size=2 face="Times New Roman">) or any lack of knowledge due to gross negligence (</FONT><I><FONT size=2 face="Times New Roman">grob fahrl&#228;ssige Unkenntnis</FONT></I><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">5.3</FONT></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Remedies</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">If either of the Acquirors is in breach of its guarantees set forth in clause 5.1, the Acquirors shall be jointly and severally liable (haftend als Gesamtschuldner) either (i) no later than twenty (20) Business Days after being notified by the Shareholder of such breach in writing, to put the Shareholder in such position it would have been in without such breach (Naturalrestitution) or (ii) after the expiration of such period or earlier at the Shareholder's sole discretion, to pay to the Shareholder an amount equal to any damages (positives Interesse), within the meaning of Section 249 et seq. BGB arising out of such breach, including any foreseeable consequential or indirect damages (</FONT><I><FONT size=2 face="Times New Roman">vorhersehbare Folgesch&#228;den oder vorhersehbare mittelbare Sch&#228;den</FONT></I><FONT size=2 face="Times New Roman">), however, excluding (i) any lost profits (Section 252 BGB), (ii) any internal administration or overhead costs and (iii) taxes or similar charges on indemnification payments.</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">6.</FONT></B></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Announcements</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">6.1</FONT></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Immediately after the Effective Date, Bidder will publish the announcement of the Offer, also stating the Offer Price, in accordance with Section 10 para. 1 sentence 1 and para. 3 sentence 1 Wp&#220;G and a corresponding press release.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">6.2</FONT></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Acquirors can refer to this Agreement and its content in the course of market standard investor relations and/or analyst communications and in their announcements and disclosure in connection with the Bidder</FONT><FONT size=2 face="Times New Roman">&#8217;</FONT><FONT size=2 face="Times New Roman">s decision to make the Offer.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">6.3</FONT></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">None of the Parties shall make any further public announcements or press releases in relation to the contents of this Agreement, unless otherwise agreed between the Parties in writing, explicitly provided for in this Agreement or required by applicable law stock market regulation, in the discretion of the disclosing party exercised in good faith, or upon request of a competent authority or stock market.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">7.</FONT></B></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Transfer of Intellectual Property</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder shall transfer and assign all Shareholder IP to the Target with effect from the Offer Completion. The Shareholder shall reasonably support the Target in re-registration of such intellectual property rights, including by making statements or producing information necessary to effect the change of the registry.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">9</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Dr Bj&#246;rn Eberleh</FONT></P>
<TABLE style="LINE-HEIGHT: NORMAL; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">8.</FONT></B></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Exclusion of Claims</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD vAlign=top width="99%" align=left></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">8.1</FONT></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">With the exception of </FONT><FONT size=2 face="Times New Roman">the Shareholder&#8217;s existing employment agreement en</FONT><FONT size=2 face="Times New Roman">tered into between the Target and the Shareholder (the </FONT><B><I><FONT size=2 face="Times New Roman">Surviving Relationships</FONT></I></B><FONT size=2 face="Times New Roman">), to the extent legally permissible, all claims and remedies of the Shareholder against a member of the Target Group (including but not limited to claims under the German Employee Invention Act), irrespective of their nature, amount and legal basis, are hereby expressly waived and excluded upon the Offer Completion with effect from the Offer Completion and therefore, from and after the Offer Completion, the Shareholder shall, not directly or indirectly, initiate or promote any such claims or remedies against the Target Group. The Shareholder shall notify the Target within three (3) Business Day after the Effective Date of such waiver.</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">8.2</FONT></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">For the avoidance of doubt, the waiver and obligation of the Shareholder pursuant to the foregoing clause 8.1 shall not apply in cases of intent (</FONT><I><FONT size=2 face="Times New Roman">Vorsatz</FONT></I><FONT size=2 face="Times New Roman">) or willful deceit (</FONT><I><FONT size=2 face="Times New Roman">arglistige T&#228;uschung</FONT></I><FONT size=2 face="Times New Roman">) or fraudulent behavior on the part of the Acquirors.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">9.</FONT></B></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Termination of Agreements with Target Group</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">With the exception of the Surviving Relationships, the Shareholder shall terminate all Related-Party Agreements upon the Offer Completion with effect from the Offer Completion</FONT><I><FONT size=2 face="Times New Roman">.</FONT></I></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><B><FONT size=2 face="Times New Roman">10.</FONT></B></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Confidentiality</FONT></B></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">10.1</FONT></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Parties hereby undertake to each other to keep the existence and contents of this Agreement and anything set out or referred to therein, as well as the discussions between the Parties, and, in particular, terms and conditions of the Offer, strictly confidential, subject only to disclosure on a need to know basis to professional advisors, </FONT><FONT size=2 face="Times New Roman">(on Shareholder&#8217;s side) to the Target and to the mem</FONT><FONT size=2 face="Times New Roman">bers of the management board and the supervisory board of the Target and their respective advisors, (on the Acquirors</FONT><FONT size=2 face="Times New Roman">&#8217; </FONT><FONT size=2 face="Times New Roman">side) to sources of debt financing and the issuer of the Financing Confirmation, as provided for in this Agreement or as required, in the discretion of the disclosing party exercised in good faith, by applicable law or stock market regulation or upon request of a competent authority or stock market. Notwithstanding the foregoing, the Acquirors may disclose information regarding this Agreement, the Offer and the Target Group in meetings with its existing or prospective investors, provided that the Acquirors shall provide a copy of any presentation to be used in such an investor meeting to the Target in advance of such investor meeting.</FONT></P></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">10.2</FONT></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Starting from the Offer Completion, the Shareholder hereby undertake to keep any trade and business secrets (</FONT><I><FONT size=2 face="Times New Roman">Betriebs- und Gesch&#228;ftsgeheimnisse</FONT></I><FONT size=2 face="Times New Roman">) of the Target Group strictly confidential.</FONT></P></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">10.3</FONT></TD>
   <TD vAlign=top width="99%" align=left>
   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Clause 10.1 and 10.2 shall not include information that (i) is or has become known in the public domain other than through a fault of the Party obliged to </FONT><FONT size=2 face="Times New Roman">hold the information confidential or of any of such Party&#8217;s Affiliates or (ii) was lawfully known to such Party or to any of such Party&#8217;s Affili</FONT><FONT size=2 face="Times New Roman">ates prior to the Effective Date this Agreement and which is not subject to any other confidential obligation to the other Party or Parties concerned.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">10</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<!-- PART 03 -->


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Dr Bj&#246;rn Eberleh</FONT></P>

<DIV>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">



<TR>

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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman"></FONT></P></TD></TR>


<TR>

   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">10.4</FONT></TD>

   <TD COLSPAN="2">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder hereby consent to the disclosure of the existence and/or the major terms and conditions of this Agreement in connection with the Offer as from the Effective Date and, in particular to BaFin, including in the Offer Document and/or any related or ancillary document, as required by law.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>

   <TD STYLE="vertical-align: top; text-align: left"><B><FONT size=2 face="Times New Roman">11.</FONT></B></TD>

   <TD COLSPAN="2">



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Parent Guarantee</FONT></B></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>

   <TD STYLE="vertical-align: top; text-align: left"></TD>

   <TD COLSPAN="2">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">BW hereby guarantees by way of an independent guarantee (</FONT><I><FONT size=2 face="Times New Roman">selbst&#228;ndige Garantieversprechen</FONT></I><FONT size=2 face="Times New Roman">) within the meaning of Section 311 para. 1 BGB on first demand (</FONT><I><FONT size=2 face="Times New Roman">nicht-akzessorische Garantie auf erstes Anfordern</FONT></I><FONT size=2 face="Times New Roman">) the full and punctual performance of all obligations and undertakings of the Bidder under or in connection with this Agreement.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>

   <TD STYLE="vertical-align: top; text-align: left"><B><FONT size=2 face="Times New Roman">12.</FONT></B></TD>

   <TD COLSPAN="2">



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Assignment</FONT></B></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>

   <TD STYLE="vertical-align: top; text-align: left"></TD>

   <TD COLSPAN="2">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Rights and claims under this Agreement may only be assigned with the prior written consent of the respective other Party.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>

   <TD STYLE="vertical-align: top; text-align: left"><B><FONT size=2 face="Times New Roman">13.</FONT></B></TD>

   <TD COLSPAN="2">



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Notices</FONT></B></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>

   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">13.1</FONT></TD>

   <TD COLSPAN="2">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">All communications and declarations of will (</FONT><I><FONT size=2 face="Times New Roman">Willenserkl&#228;rungen</FONT></I><FONT size=2 face="Times New Roman">) under or in connection with this Agreement shall be made in writing and shall be conveyed personally, by post or by email to the Parties at the following addresses and marked for the attention of the following persons:</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"></TD>

   <TD STYLE="vertical-align: top; width: 49%; padding-left: 15pt"><FONT size=2 face="Times New Roman">Shareholder:</FONT></TD>

   <TD STYLE="width: 50%">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Bickenbacher Stra&#223;e 40<BR>64665 Alsbach-H&#228;hnlein<BR>Germany</FONT></P>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Email: </FONT><FONT size=2 face="Times New Roman">bjoern.eberleh@akasol.com;<BR>
beberleh@freenet.de</FONT></P>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">For the attention of: Bj&#246;rn Eberleh</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD STYLE="vertical-align: top; text-align: left"></TD>

   <TD STYLE="vertical-align: top; padding-left: 15pt"><FONT size=2 face="Times New Roman">Bidder:</FONT></TD>

   <TD>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG)</FONT></P>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Attn.: Robert Boyle<BR>c/o BorgWarner Europe GmbH<BR>Augustaanlage 54-56<BR>68165 Mannheim<BR>Germany</FONT></P>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Email: rboyle@borgwarner.com</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">11|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Dr Bj&#246;rn Eberleh</FONT></P>

<DIV>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="49%"></TD>

   <TD width="50%">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">For the attention of: Robert Boyle</FONT></P>





   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">with a copy to:</FONT></P>





   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Freshfields Bruckhaus Deringer <BR>Rechtsanw&#228;lte Steuerberater PartG mbB</FONT></P>





   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Attn.: Rick van Aerssen and Dr. Sabrina Kulenkamp <BR>Bockenheimer Anlage 44<BR>60322 Frankfurt am Main<BR>Germany</FONT></P>





   <P STYLE="text-align: left"><FONT size=2 face="Times New Roman">Email: rick.aerssen@freshfields.com<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;sabrina.kulenkamp@freshfields.com</FONT></P>





   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">and</FONT></P>





   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Foley &amp; Lardner LLP<BR>Attn.: Patrick G. Quick<BR>111 Huntington Avenue<BR>Boston, MA 02199<BR>United States of America</FONT></P>





   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Email:
   pgquick@foley.com</FONT></P></TD></TR>

<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="49%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="50%"></TD></TR>

<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"></TD>

   <TD STYLE="vertical-align: top; width: 49%; padding-left: 15pt"><FONT size=2 face="Times New Roman">BW:</FONT></TD>

   <TD width="50%">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">BorgWarner Inc. <BR>Attn.: Tonit Calaway <BR>3850 Hamlin Road <BR>Auburn Hills, MI 48326 <BR>United States of America</FONT></P>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Email: tcalaway@borgwarner.com</FONT></P>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">For the attention of: Tonit Calaway</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">12</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Dr Bj&#246;rn Eberleh</FONT></P>

<DIV>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"></TD>

   <TD width="49%"></TD>

   <TD width="50%">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">with a copy to:</FONT></P>





   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Freshfields Bruckhaus Deringer <BR>Rechtsanw&#228;lte Steuerberater PartG mbB</FONT></P>





   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Attn.: Rick van Aerssen and Dr. Sabrina Kulenkamp <BR>Bockenheimer Anlage 44 <BR>60322 Frankfurt am Main <BR>Germany</FONT></P>





   <P STYLE="text-align: left"><FONT size=2 face="Times New Roman">Email: rick.aerssen@freshfields.com <BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;sabrina.kulenkamp@freshfields.com</FONT></P>





   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">and</FONT></P>





   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Foley &amp; Lardner LLP <BR>Attn.: Patrick G. Quick <BR>111 Huntington Avenue <BR>Boston, MA 02199 <BR>United States of America</FONT></P>





   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Email:
   pgquick@foley.com</FONT></P></TD></TR>

<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="49%"></TD>

   <TD width="50%"></TD></TR>

<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">13.2</FONT></TD>

   <TD width="99%" colSpan=2>

   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Parties must immediately notify the respective other Parties and their advisers in writing of any changes to their addresses specified above. Until such notice is received, the previous address shall be deemed valid.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"><B><FONT size=2 face="Times New Roman">14.</FONT></B></TD>

   <TD width="99%" colSpan=2>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Service of Process</FONT></B></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"></TD>

   <TD width="99%" colSpan=2>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Clause 13 (</FONT><I><FONT size=2 face="Times New Roman">Notices</FONT></I><FONT size=2 face="Times New Roman">) shall not apply in relation to the service of any claim form, notice, order, judgment or other document relating to or in connection with any legal proceedings, suit or action (including arbitration) arising out of or in connection with this Agreement. BW and the Bidder hereby appoint the lawyers admitted in Germany of the law firm of Freshfields Bruckhaus Deringer Rechtsanw&#228;lte Steuerberater PartG mbB. Any appointments shall only terminate upon the appointment of another agent for service of process domiciled in Germany, provided that the agent for service of process is an attorney admitted to the bar in Germany and her/his appointment has been notified to the Shareholder in case of BW</FONT><FONT size=2 face="Times New Roman">&#8217;s or </FONT><FONT size=2 face="Times New Roman">the Bidder</FONT><FONT size=2 face="Times New Roman">&#8217;</FONT><FONT size=2 face="Times New Roman">s agent or to BW and the Bidder in case of the Shareholder</FONT><FONT size=2 face="Times New Roman">&#8217;</FONT><FONT size=2 face="Times New Roman">s agent. If any appointment terminates otherwise (e.g., because the appointee ceases to exist), the relevant Party must without undue delay, but in any event no later than within ten (10) Business Days following such termination, appoint another agent for service of process who meets the requirements set out in the preceding sentence. If such appointment is not made as required, service can be effected, by posting the claim form, notice, order, judgment or other document by registered letter with acknowledgement of receipt or equivalent under the address of the respective Party stated in clause 10.1. Service shall then be deemed to have been effected on the addressee on the tenth (10<SUP>th</SUP>) day following the lodging of the letter. The Parties shall promptly after the Effective Date and upon the appointment of any new agent for service of process issue to the agent a written power of attorney and shall irrevocably instruct the agent to submit such deed in connection with any service of process under or in connection with this Agreement. The Parties agree that they waive any objection to the service so effected.</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">13</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Dr Bj&#246;rn Eberleh</FONT></P>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="line-height: 1pt;">

   <TD STYLE="width: 1%; vertical-align: top; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD width="98%"></TD></TR>

<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman"><STRONG>15.</STRONG></FONT></TD>

   <TD width="99%" colSpan=2><FONT size=2 face="Times New Roman"><STRONG>Termination prior to Offer Completion</STRONG></FONT></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">15.1</FONT></TD>

   <TD width="99%" colSpan=2>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Shareholder shall be entitled to terminate (</FONT><I><FONT size=2 face="Times New Roman">k&#252;ndigen</FONT></I><FONT size=2 face="Times New Roman">) this Agreement by written notice to the Acquirors if </FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"></TD>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD width="98%">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">the Offer Document has not been published within the time period as prescribed in the Wp&#220;G and/or in compliance with the requirements of clause 1; </FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"></TD>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD width="98%">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">either of the Acquirors fails to comply in any material respect with its obligations under this Agreement; or</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"></TD>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD width="98%">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">the Business Combination Agreement has been terminated.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">15.2</FONT></TD>



   <TD width="98%" colspan=2>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Bidder and BW shall each individually be entitled to terminate this Agreement by written notice to the Shareholder if (a) the Shareholder fails in any material respect to comply with its obligations under this Agreement or (b) the Business Combination Agreement has been terminated.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">15.3</FONT></TD>



   <TD width="98%" colspan=2>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Each Party shall be entitled to terminate this Agreement by written notice to the respective other Party if one or more conditions included in the Offer Document (that has not been waived in accordance with the Offer Document) finally failed (</FONT><I><FONT size=2 face="Times New Roman">endg&#252;ltig ausfallen</FONT></I><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">15.4</FONT></TD>



   <TD width="98%" colspan=2>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The terminaton rights pursuant to clause 15.1 through clause 15.3 shall only be exercised within one (1) month after the termination right has arisen.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">15.5</FONT></TD>



   <TD width="98%" colspan=2>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">In case of a termination in accordance with this clause </FONT><FONT size=2 face="Times New Roman">15,</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"></TD>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD width="98%">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">all rights and obligations of the Parties hereunder shall terminate without any liability of any Party to the other Party, other than any liability for breaches of this Agreement prior to the termination which has been the cause for the termination of this Agreement; and </FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"></TD>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD width="98%">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">this Agreement shall immediately cease to have any effect, with the exception only of its clause </FONT><FONT size=2 face="Times New Roman">15.5</FONT><FONT size=2 face="Times New Roman"> and clause 10 (</FONT><I><FONT size=2 face="Times New Roman">Confidentiality</FONT></I><FONT size=2 face="Times New Roman">) through 10 (</FONT><I><FONT size=2 face="Times New Roman">Service of Process</FONT></I><FONT size=2 face="Times New Roman">) and </FONT><FONT size=2 face="Times New Roman">17 (<I>Costs</I>) as well as 17 (<I>Miscellaneous</I>), which shall continue to apply.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman"><STRONG>16.</STRONG></FONT></TD>

   <TD width="99%" colSpan=2><FONT size=2 face="Times New Roman"><STRONG>Costs</STRONG></FONT></TD></TR>

<TR>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>

   <TD STYLE="width: 1%; vertical-align: top; text-align: left"></TD>

   <TD width="99%" colSpan=2><FONT size=2 face="Times New Roman">All transfer taxes, stamp duties, statutory fees (notarial fees), registration duties or other charges related in order to obtain any regulatory clearances (including merger control and other regulatory proceedings) payable in connection with the execution of this Agreement or the Offer shall be borne by Acquirors. Each Party shall pay its own expenses, including the costs of its advisors, incurred in connection with this Agreement.</FONT></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">14</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>


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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA <BR>Irrevocable Undertaking <BR>Dr Bj&#246;rn Eberleh</FONT></P>




<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">




<TR style="line-height: 1pt;">
   <TD STYLE="vertical-align: top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>

   <TD STYLE="vertical-align: top; width: 1%"><B><FONT size=2 face="Times New Roman">17.</FONT></B></TD>

   <TD STYLE="vertical-align: top; width: 99%">



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Miscellaneous</FONT></B></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top">&nbsp;</TD>
   <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>

   <TD STYLE="vertical-align: top"><FONT size=2 face="Times New Roman">17.1</FONT></TD>

   <TD STYLE="vertical-align: top">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">If one or more provisions of this Agreement should be or become wholly or partially invalid or void, the validity of the other provisions of this Agreement shall not be affected thereby. The same shall apply if it should transpire that this Agreement contains an omission. In place of the invalid or void provision (or, as the case may be, in order to rectify the omission), an appropriate provision which comes as close as legally possible to what the Parties were trying to achieve with the invalid or void provision (or, as the case may be, the invalid or void part thereof) shall be deemed agreed upon. If a contractual omission needs to be rectified, a provision shall be deemed agreed upon which, in view of the purpose and intent of this Agreement, comes as close as possible to what the Parties would have agreed if they had been aware of the omission at the time that this Agreement was concluded.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top">&nbsp;</TD>
   <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>

   <TD STYLE="vertical-align: top"><FONT size=2 face="Times New Roman">17.2</FONT></TD>

   <TD STYLE="vertical-align: top">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">This Agreement sets out the entire agreement between the Parties relating to the subject-matter hereof. Variations and additions to this Agreement shall be made in writing. The same shall apply to any waiver of the need to comply with the provisions of this clause 17.2.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top">&nbsp;</TD>
   <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>

   <TD STYLE="vertical-align: top"><FONT size=2 face="Times New Roman">17.3</FONT></TD>

   <TD STYLE="vertical-align: top">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">This Agreement may be executed by the Parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. Any signature (including, without limitation, (i) any electronic symbol or process attached to, or associated with, a contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record and (ii) any facsimile, E-pencil or .pdf signature) hereto or to any other certificate, agreement or document related to this Agreement, and any contract formation or record-keeping, in each case, through electronic means, shall have the same legal validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top">&nbsp;</TD>
   <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>

   <TD STYLE="vertical-align: top"><FONT size=2 face="Times New Roman">17.4</FONT></TD>

   <TD STYLE="vertical-align: top">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Terms to which a German translation has been added shall be interpreted as having the meaning assigned to them by the German translation. The headings of the clauses and subclauses in this Agreement are for convenience purposes only and shall not affect the interpretation of any of the provisions hereof.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top">&nbsp;</TD>
   <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>

   <TD STYLE="vertical-align: top"><FONT size=2 face="Times New Roman">17.5</FONT></TD>

   <TD STYLE="vertical-align: top">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">This Agreement shall be governed by the substantive laws of Germany, not taking into account the provisions on conflicts of laws.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top">&nbsp;</TD>
   <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>

   <TD STYLE="vertical-align: top"><FONT size=2 face="Times New Roman">17.6</FONT></TD>

   <TD STYLE="vertical-align: top">



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">All disputes arising out of or in connection with this Agreement or its validity shall be finally settled in accordance with a separate arbitration agreement, substantially in the form attached hereto as </FONT><B><U><FONT size=2 face="Times New Roman">Schedule 17.6</FONT></U></B><FONT size=2 face="Times New Roman">., which shall be executed by the Parties immediately after the Effective Date.</FONT></P></TD></TR>

<TR>
   <TD STYLE="vertical-align: top">&nbsp;</TD>
   <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>

   <TD></TD>

   <TD>



   <P style="TEXT-ALIGN: center"><I><FONT size=2 face="Times New Roman">[signatures on the following page]</FONT></I></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">15|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>

<HR align=center width="100%" noShade size="2">





<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<!-- PART 04 -->
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Dr Bj&#246;rn Eberleh</FONT></P>

<Div  ALIGN="RIGHT">
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 40%">

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   <TD STYLE="border-bottom: Black 1pt solid; width: 100%; text-align: left">
<FONT size=2 face="Times New Roman">/s/ Bj&ouml;rn Eberleh
</FONT>
</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="text-align: left"><FONT size=2 face="Times New Roman">Bj&ouml;rn Eberleh, Individually</FONT></TD></TR></TABLE>
   </DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">16|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Dr Bj&#246;rn Eberleh</FONT></P>
<DIV align=right>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR STYLE="vertical-align: bottom">
   <TD COLSPAN="2" STYLE="padding-right: 4pt; vertical-align: bottom; text-align: left"><B><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG)
</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Robert Boyle
</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Robert Boyle
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Member of the Management Board
</FONT></TD></TR>
</TABLE></DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">17|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Dr Bj&#246;rn Eberleh</FONT></P>

<DIV align=right>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

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   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left" colspan=2><B><FONT size=2 face="Times New Roman">BorgWarner Inc.

</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Tonit M. Calaway
</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Tonit M. Calaway
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Executive Vice President, Chief<BR>
Administrative Officer, General Counsel, and<BR>
Secretary
</FONT></TD></TR>
</TABLE></DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">18|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Dr Bj&#246;rn Eberleh</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Schedule B Deposit Confirmation by Volksbank Darmstadt</FONT></B></P>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">19</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Dr Bj&#246;rn Eberleh</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Schedule 1.2 Offer Conditions</FONT></B></P>
<DIV>

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman">12.</FONT></B></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman">OFFER CONDITIONS</FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman">12.1</FONT></B></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman">Offer Conditions</FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P><FONT size=2 face="Times New Roman">The Offer and the contracts which come into existence as a result of its acceptance by the AKASOL Shareholders are subject to the following conditions (the &#8220;<STRONG>Offer Conditions</STRONG>&#8221;):</FONT></P>

   <P><FONT size=2 face="Times New Roman">[<STRONG>Note:</STRONG><EM> Set of regulatory conditions depends on the outcome of the currently ongoing regulatory analysis and may be amended as required.</EM>]</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P><FONT size=2 face="Times New Roman"></FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.1</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U>Merger control clearances</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U></U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">



   <P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">After publication of this Offer Document and at the latest by [</FONT><FONT size=2 face="Times New Roman">&#9679;</FONT><FONT size=2 face="Times New Roman">]<SUP>1 </SUP>2021, each of the Offer Conditions set out in Section 12.1.1 (a)-(d) of this Offer Document have been fulfilled:</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">the German Federal Cartel Office (<EM>Bundeskartellamt</EM>) has approved the Transaction or the Transaction is deemed to be approved or the FCO has confirmed that it is not competent to review the Transaction;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">the Austrian FCA and FCP have approved the Transaction or the Transaction is deemed to be approved or the FCA and the FCP have confirmed that they are not competent to review the Transaction;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">the Polish UOKiK has approved the Transaction or the Transaction is deemed to be approved or the UOKiK has confirmed that it is not competent to review the Transaction;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">In the event of a referral to the European Commission pursuant to Article 22 of the EU Merger Regulation (&#8220;EUMR&#8221;), the European Commission having approved the Transaction under the EUMR,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">and completion of the Transaction is no longer subject to a suspense obligation under applicable competition law.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.2</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U>[Foreign investment clearance Germany]</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and at the latest by [&#9679;]<SUP>2</SUP> 2021, the BMWi has</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">granted a Certificate of non-objection (<EM>Unbedenklichkeitsbescheinigung</EM>) in accordance with Section 58 para. 1 sentence 1 AWV or otherwise informed the Bidder that it will not initiate proceedings (<EM>Pr&#252;fverfahren</EM>) within the two months&#8217; time period specified in Section 14a para. 1 number 1 of the German Foreign Trade Act (<EM>Au&#223;enwirtschaftsgesetz</EM> &#8211; &#8220;<STRONG>AWG</STRONG>&#8221;); or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">not initiated such proceedings within such time period; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">informed the Bidder in writing, after initiating such proceedings, that the Transaction will not be prohibited or does not meet the requirements for a prohibition; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">not prohibited the Transaction, after initiating such proceedings, within the four months&#8217; time period specified in Section 14a para. 1 number 2 AWG, as possibly extended pursuant to Section 14a paras. 4, 5 and 6 AWG.</FONT></FONT></TD></TR></TABLE>
<DIV>____________________</DIV>
<BR>

<DIV>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>1</SUP></FONT></TD>

   <TD STYLE="vertical-align: top; width: 100%; text-align: justify">



   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note</FONT></B><B><I><FONT size=2 face="Times New Roman">: </FONT></I></B><I><FONT size=2 face="Times New Roman">Long stop date to be determined by BW/BidCo based on outcome of the currently ongoing regulatory analysis and discussion with BaFin.</FONT></I></P></TD></TR>

<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 100%; text-align: justify">

   </TD></TR>

<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>2</SUP></FONT></TD>

   <TD STYLE="vertical-align: top; width: 100%; text-align: justify">

   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note</FONT></B><B><I><FONT size=2 face="Times New Roman">: </FONT></I></B><I><FONT size=2 face="Times New Roman">Long stop date to be determined by BW/BidCo based on outcome of the currently ongoing regulatory analysis and discussion with BaFin.</FONT></I></P></TD></TR></TABLE>

   <P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">20</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>

</DIV>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<BR>


<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.3</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"><U>Minimum Acceptance Threshold</U></FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">



   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">Upon expiry of the Acceptance Period, the total sum of the AKASOL Shares</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">for which the acceptance of the Offer has been effectively declared in accordance with Section 13.2 of this Offer Document and for which no withdrawal of the agreement entered into as a result of the acceptance of the Offer has been effectively declared,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">held directly by the Bidder or a person acting jointly with the Bidder pursuant to Section 2 para. 5 Wp&#220;G,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">attributable to the Bidder or any Bidder Parent Company in application of Section 30 Wp&#220;G; and</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">for which the Bidder or persons acting jointly with the Bidder pursuant to Section 2 para. 5 Wp&#220;G have concluded a conditional or unconditional agreement with any AKASOL Shareholder outside of the Offer which entitles them to the transfer of title to these AKASOL Shares,</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman">is equivalent to at least 50% of the number of AKASOL Shares outstanding at the end of the Acceptance Period plus one (1) AKASOL Share, i.e. at the time of publication of the Offer Document, at least [6,061,856]<SUP>3</SUP> AKASOL Shares. AKASOL Shares which are subject to several of the preceding paragraphs (a) to (d) will be taken into account only once.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left><FONT size=2 face="Times New Roman">12.1.4</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"><U>No issuance of instruments to receive AKASOL Shares</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, the Bidder has not received a letter from the management board of AKASOL AG nor has AKASOL AG made a public announcement stating that AKASOL has issued, or guaranteed, subscription rights, options, (convertible) bonds or other financial instruments granting a right to receive AKASOL Shares.</FONT></TD></TR>

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   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left><FONT  size=2 face="Times New Roman">12.1.5</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><U>No adverse shareholders&#8217; meeting resolution</U></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><U></U></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left><FONT  size=2 face="Times New Roman"></FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, the general meeting of AKASOL has not adopted a resolution approving</FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><U></U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a capital increase; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a change of the rights or nature of shares; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(c)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a distribution of a cash or non-cash dividend; or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(d)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a measure pursuant to the German Transformation Act (<EM>Umwandlungsgesetz</EM>); or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top noWrap align=left></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman">(e)</FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">the conclusion of any upstream intercompany agreement within the meaning of Sections 291, 292 AktG (but excluding any such intercompany agreement with a subsidiary of AKASOL); or</FONT></FONT></TD></TR>

<TR>

   <TD vAlign=top noWrap align=left>&nbsp;</TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman">(f)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">to dissolve AKASOL.</FONT></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left><FONT  size=2 face="Times New Roman">12.1.6</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><U><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">No insolvency of AKASOL</FONT></FONT> <FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman"></FONT></FONT></U></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD vAlign=top width="1%" noWrap align=left>&nbsp;</TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, AKASOL has not published any notification pursuant to Article 17 of Regulation (EU) No 596/2014 (&#8220;<STRONG>Market Abuse Regulation</STRONG>&#8221;) according to which</FONT></FONT></TD></TR></TABLE>

<DIV>____________________</DIV>
<BR>

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<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>3</SUP></FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top; width: 100%">



   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note: </FONT></B><I><FONT size=2 face="Times New Roman">Number of issued shares TBD on date of publication of offer document.</FONT></I></P></TD></TR>


</TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">21</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<BR>


<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(a)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">a loss equaling half of the share capital within the meaning of Section 92 para. 1 AktG has been suffered; or</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">an insolvency proceeding has been instituted against the assets of AKASOL or the management board of AKASOL AG has applied for the institution of such proceeding; or</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman">a reason has arisen that would necessitate the filing of an application for the institution of an insolvency proceeding.</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"><FONT size=2 face="Times New Roman">12.1.7</FONT></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman"><U>No market material adverse change</U></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD VALIGN="TOP" WIDTH="99%" COLSPAN="2" ALIGN="LEFT" STYLE="text-align: justify"><FONT size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, neither of the following events has occurred:</FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">a trading suspension specifically related to the ABBA Shares of more than five consecutive trading days at the Frankfurt Stock Exchange (excluding any general suspension of trading); or</FONT></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT size=2 face="Times New Roman"></FONT></TD></TR>

<TR vAlign=bottom>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT size=2 face="Times New Roman">(b)</FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">the closing quote of SDAX (ISIN DE0009653386) in the XETRA trading system of Deutsche B&#246;rse AG, as determined by Deutsche B&#246;rse AG, or a successor thereof, and published on its website (www.deutsche-boerse.com), on more than three consecutive trading days is more than 30% below the closing quote of SDAX as at the last trading day preceding the day of the publication of the decision to launch the Offer pursuant to Section 10 para. 1 sentence 1 Wp&#220;G, i.e., below a SDAX threshold level of [&#9679;]<SUP>4</SUP> points.</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"><FONT  size=2 face="Times New Roman">12.1.8</FONT></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><U><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">No target material adverse change</FONT></FONT></U></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left><FONT  size=2 face="Times New Roman"></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, none of the following events shall have occurred:</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD vAlign=top width="99%" colSpan=2 align=left></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">(a)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">AKASOL has notified or should have notified the Bidder that AKASOL&#8217;s cumulative order value of framework agreements and call-off agreements agreed with customers (&#8220;<STRONG>Order Backlog</STRONG>&#8221;), determined using the same methodology used to determine the Order Backlog disclosed on page 3 of AKASOL&#8217;s Half Year Financial Report 2020, has fallen below EUR 1.75 billion;</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">(b)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">AKASOL has published any notification pursuant to Article 17 of the Market Abuse Regulation; or</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">(c)</FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman">circumstances have occurred that would have had to be published by AKASOL pursuant to article 17 para. 1 of the Market Abuse Regulation or where AKASOL decided to delay the publication pursuant to article 17 para. 4 of the Market Abuse Regulation,</FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify">&nbsp;</TD>

   <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD>

   <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT  size=2 face="Times New Roman"><FONT  size=2 face="Times New Roman"></FONT></FONT></TD></TR>

<TR>

   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: justify"></TD>

   <TD COLSPAN="2" STYLE="vertical-align: top; width: 99%; text-align: justify">

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">following in the case of each of clauses (b) and (c) the occurrence of any circumstance (isolated incident) which has had or could reasonably be expected to have a negative impact on AKASOL's unadjusted EBITDA for the financial year 2021 in the amount of at least EUR 15 million (together with the occurrence described in clause (a), each a &#8220;<STRONG>Target Material Ad hoc Obligatory Adverse Change</STRONG>&#8221;). AKASOL&#8217;s unadjusted EBITDA shall be determined in accordance with the same principles as applied in AKASOL&#8217;s [2019] [<STRONG>Note:</STRONG> <EM>If by publication of the offer document the financial accounts 2020 have been published, 2019 should be replaced by 2020</EM>] financial statements.</FONT></FONT></P>

   <P STYLE="text-align: justify"><FONT size=2 face="Times New Roman"><FONT size=2 face="Times New Roman">Whether during the Acceptance Period a Target Material Ad hoc Obligatory Adverse Change has occurred shall be determined exclusively by an expert opinion of [&#9679; &#8211; <STRONG>Note:</STRONG> <i>Auditor TBD </i></FONT></FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>by BW/BidCo following signing of BCA</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">] as independent expert (&#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Independent Expert</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8220;) applying careful commercial consideration and as set out in Section 12.2.</FONT></P></TD></TR></TABLE>

<DIV>____________________</DIV>
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<TR>

   <TD STYLE="padding-right: 4pt; vertical-align: top; width: 1%"><FONT size=2 face="Times New Roman"><SUP>4</SUP></FONT></TD>

   <TD STYLE="text-align: justify; vertical-align: top; width: 100%">



   <P STYLE="text-align: justify"><B><FONT size=2 face="Times New Roman">Note: </FONT></B><I><FONT size=2 face="Times New Roman">Threshold TBD following section 10 announcement.</FONT></I></P></TD></TR>


</TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">22</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>

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<!-- Part 07 -->
<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
 <BR>

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     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If (i) the Independent Expert confirms that a Target Material Ad hoc Obligatory Adverse Change has occurred during the Acceptance Period, (ii) the expert opinion of the Independent Expert has been received by the Bidder prior to the expiry of the Acceptance Period, and (iii) the Bidder at the latest until the date of the publication pursuant to Section 23 para. 1 sentence 1 number 2 Wp&#220;G has published the receipt and result of the expert opinion of the Independent Expert, the Offer Condition as set out in this Section 12.1.8 shall be deemed not fulfilled. In all other cases, the Offer Condition as set out in this Section 12.1.8 shall be deemed fulfilled.</FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
     <TD STYLE="vertical-align: top; width: 1%"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
     <TD STYLE="vertical-align: top; width: 98%"></TD></TR>
<TR>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">12.1.9</FONT></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U>No Material Compliance Violation</U></FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U></U></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">After publication of this Offer Document and prior to expiry of the Acceptance Period, no criminal offence or administrative offence (</FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>Ordnungswidrigkeiten</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">), be it an offense under German criminal or administrative law or other applicable laws, in particular bribery offenses and corruption, embezzlement, anti-trust violations or money laundering, by a member of the governing body or an officer of AKASOL or a subsidiary of AKASOL while any of these persons was operating in their official capacity at AKASOL or a subsidiary of AKASOL, is known to have occurred, provided that any such infringement or criminal or administrative offense (i) constitutes inside information for AKASOL pursuant to Article 7 of the Market Abuse Regulation or (ii) has constituted inside information prior to its publication (&#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Material Compliance Violation</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8221;).</FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Whether during the Acceptance Period a Material Compliance Violation has occurred shall be determined exclusively by the Independent Expert as set out in Section 12.2.</FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If (i) the Independent Expert confirms that a Material Compliance Violation has occurred during the Acceptance Period, (ii) the expert opinion of the Independent Expert has been received by the Bidder prior to the expiry of the Acceptance Period, and (iii) the Bidder at the latest until the date of the publication pursuant to Section 23 para. 1 sentence 1 number 2 Wp&#220;G has published the receipt and result of the expert opinion of the Independent Expert, the Closing Condition as set out in this Section 12.1.9 shall be deemed not fulfilled. In all other cases, the Closing Condition as set out in this Section 12.1.9 shall be deemed fulfilled.</FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">12.1.10 </FONT></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U>Breach of Certain Covenants</U></FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV></DIV></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U></U></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Prior to expiry of the Acceptance Period neither of the following events has occurred (either, a &#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Breach of Certain Covenants</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8221;): </FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD COLSPAN="2" STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">(a)</FONT></DIV></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Sven Schulz and Sven Schulz Group GmbH shall have failed to transfer and assign all intellectual property rights relating to the business of the AKASOL Group (including but not limited to patents, trademarks as well as copyrights) and applications for registration of intellectual property rights that are owned or held by Sven Schulz or Sven Schulz Group GmbH rather than by the AKASOL Group to AKASOL with effect from the Offer Completion.</FONT></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
<DIV>&nbsp;</DIV></DIV></TD>
     <TD STYLE="vertical-align: top">
<DIV>
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV></DIV></TD></TR>
<TR>
     <TD STYLE="vertical-align: top"></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">(b)</FONT></DIV></TD>
     <TD STYLE="vertical-align: top">
<DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Any member of the AKASOL Group shall have, without the approval of BorgWarner whose consent shall be deemed granted unless BorgWarner objects to a respective request by AKASOL addressed to Demetri Samohin by email at </FONT><FONT style="font-size: 10pt" face="Times New Roman">dsamohin@borgwarner.com</FONT><FONT style="font-size: 10pt" face="Times New Roman">, with a copy to Tonit Calaway by email at tcalaway@borgwarner.com, within five (5) Business Days from receipt of such request, incurred, assumed or guaranteed any indebtedness for borrowed money, except for (i) borrowings under credit or loan agreements existing and not yet drawn at the Effective Date, which shall not exceed EUR 25 million in the aggregate for the&nbsp;AKASOL Group, (ii) guarantees and factorings not to exceed EUR 10 million in the aggregate for the AKASOL Group, and (iii) indebtedness among AKASOL and any other member of the AKASOL Group.</FONT></DIV></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">23</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
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<TR>
   <TD vAlign=top width="1%">
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></DIV></DIV></TD>
   <TD vAlign=top width="99%">
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><U></U></FONT></DIV>
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">Whether during the Acceptance Period a Breach of Certain Covenants has occurred shall be determined exclusively by the Independent Expert as set out in Section 12.2.</FONT></DIV></DIV></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"></FONT></DIV>
   <DIV>
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If (i) the Independent Expert confirms that a Breach of Certain Covenants has occurred during the Acceptance Period, (ii) the expert opinion of the Independent Expert has been received by the Bidder prior to the expiry of the Acceptance Period, and (iii) the Bidder at the latest until the date of the publication pursuant to Section 23 para. 1 sentence 1 number 2 Wp&#220;G has published the receipt and result of the expert opinion of the Independent Expert, the Offer Condition as set out in this Section 12.1.10 shall be deemed not fulfilled. In all other cases, the Offer Condition as set out in this Section 12.1.10 shall be deemed fulfilled.</FONT></DIV></DIV></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>12.2</B></FONT></DIV></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>Independent Expert</B></FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 10pt" face="Times New Roman">12.2.1 </FONT></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">The Independent Expert shall only act upon request by the Bidder. The Bidder shall publish, without undue delay (</FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>unverz&#252;glich</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">) and with reference to this Offer, the commencement of the procedure to determine whether a Target Material Ad hoc Obligatory Adverse Change, a Material Compliance Violation and/or a Breach of Certain Covenants has occurred during the Acceptance Period in the German Federal Gazette and on the internet at http://www.abba-offer.com. In case the Bidder receives an expert opinion of the Independent Expert prior to the expiry of the Acceptance Period which states that during the Acceptance Period a Target Material Ad hoc Obligatory Adverse Change, a Material Compliance Violation and/or a Breach of Certain Covenants has occurred, the Bidder is obliged to publish the fact that it has received such expert opinion and the result of such expert opinion, without undue delay, and in any case on or prior to the date of the publication pursuant to Section 23 para 1 sentence 1 no. 2 Wp&#220;G, and with reference to this Offer, in the German Federal Gazette and on the internet at http://www.abba-offer.com. The expert opinion of the Independent Expert shall be binding and final upon the Bidder and the accepting AKASOL Shareholders. The costs and disbursements of the Independent Expert shall be borne by the Bidder.</FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp; </TD></TR>
<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 10pt" face="Times New Roman"><B>12.3 </B></FONT></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>Nonfulfillment of the Offer Conditions; Waiver of Offer Conditions</B></FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">The Offer Conditions set out in Sections 12.1.1 through 12.1.10 of this Offer Document shall each constitute independent and separable conditions. The Bidder may waive all or individual Offer Conditions in advance &#8211; to the extent permissible &#8211; pursuant to Section 21 para. 1 sentence 1 no. 4 Wp&#220;G as long as such Offer Conditions have not ultimately lapsed.</FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">A waiver is equivalent to the fulfilment of the relevant Offer Condition. If the Bidder waives any of the Offer Conditions within the last two weeks prior to expiry of the Acceptance Period, the Acceptance Period will be extended by two weeks (Section 21 para. 5 Wp&#220;G), </FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>i.e., </I></FONT><FONT style="font-size: 10pt" face="Times New Roman">until [</FONT><FONT style="font-size: 10pt" face="Times New Roman">&#9679;</FONT><FONT style="font-size: 10pt" face="Times New Roman">] 2021, 24:00 hrs (local time Frankfurt am Main) / 18:00 hrs (local time New York).</FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">If the Offer Conditions set forth in Section 12.1 of this Offer Document either have not been satisfied on or prior to the applicable date or have definitively lapsed before these dates and the Bidder has not effectively waived them in advance, the Offer shall lapse. In this case, the contracts which come into existence as a result of accepting the Offer will cease to exist and will not be consummated (conditions subsequent); and delivered AKASOL Shares will be returned. The Settlement Agent (as defined in Section 13.1 of this Offer Document) will promptly, at the latest within four Banking Days after announcement of the expiry of the Offer, order the rebooking of the Tendered AKASOL Shares (ISIN [</FONT><FONT style="font-size: 10pt" face="Times New Roman">&#9679;</FONT><FONT style="font-size: 10pt" face="Times New Roman">]) to ISIN DE000A2JNWZ9 by the Custodian Banks (as defined in Section 13.2 of this Offer Document) through Clearstream Banking AG, Frankfurt am Main, Germany (&#8220;</FONT><FONT style="font-size: 10pt" face="Times New Roman"><B>Clearstream</B></FONT><FONT style="font-size: 10pt" face="Times New Roman">&#8221;). The rebooking is generally free
    of costs and expenses of the Custodian Banks for the AKASOL Shareholders who hold their AKASOL Shares in a securities deposit account in the Federal Republic of Germany. Any foreign taxes or costs and fees of foreign Custodian Banks that do not have securities deposit account connections with Clearstream must, however, be paid by the respective AKASOL Shareholders.</FONT></DIV></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">24</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
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<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 10pt" face="Times New Roman"><B>12.4 </B></FONT></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman"><B>Publications concerning Offer Conditions</B></FONT></DIV></TD></TR>
<TR>
   <TD vAlign=top width="1%"><FONT style="font-size: 12pt" face="Times New Roman"><FONT style="font-size: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></TD>
   <TD vAlign=top width="99%">&nbsp;</TD></TR>
<TR>
   <TD vAlign=top width="1%"></TD>
   <TD vAlign=top width="99%">
   <DIV style="TEXT-ALIGN: justify"><FONT style="font-size: 10pt" face="Times New Roman">The Bidder will promptly announce on the internet at http://www.abba-offer.com (in German and in an English translation) and in the Federal Gazette (</FONT><FONT style="font-size: 10pt" face="Times New Roman"><I>Bundesanzeiger</I></FONT><FONT style="font-size: 10pt" face="Times New Roman">) if (i) an Offer Condition has been effectively waived in advance, (ii) an Offer Condition has been fulfilled, (iii) all Offer Conditions have either been fulfilled or have been effectively waived in advance or (iv) the Offer is not consummated because an Offer Condition has finally not been fulfilled or lapsed. Likewise, the Bidder will promptly announce at the end of the Acceptance Period, as part of the publication according to Section 23 para. 1 no. 2 Wp&#220;G, which of the Offer Conditions of Section 12.1 of this Offer Document have been fulfilled by such time.</FONT></DIV></TD></TR></TABLE>


 </DIV>


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">25</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>

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<!-- PART 06 -->


<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Dr Bj&ouml;rn Eberleh</FONT></P>

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   <TD vAlign=top width="1%" noWrap align=left><B><FONT size=2 face="Times New Roman">Schedule 4.1(j)&nbsp;</FONT></B></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Shareholder IP</FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">26</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Dr Bj&ouml;rn Eberleh</FONT></P>

<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">Schedule 17.6 Draft Arbitration Agreement</FONT></B></P>

<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">ARBITRATION AGREEMENT</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">among</FONT></P>

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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(1)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Dr Bj&ouml;rn Eberleh, born on January 19, 1976, residing at Bickenbacher Stra&szlig;e 40, 64665 Alsbach-H&auml;hnlein, Germany (the </FONT><B><I><FONT size=2 face="Times New Roman">Shareholder</FONT></I></B><FONT size=2 face="Times New Roman">;</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" align=left></TD></TR>

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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(2)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG), a stock corporation (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesellschaft</FONT></I><FONT size=2 face="Times New Roman">) incorporated under the laws of Germany, having its registered office at Frankfurt am Main, Germany, and registered with the Local Court of Frankfurt am Main under no. HRB 121819 (the </FONT><B><I><FONT size=2 face="Times New Roman">Bidder</FONT></I></B><I><FONT size=2 face="Times New Roman">)</FONT></I><FONT size=2 face="Times New Roman">, and</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(3)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">BorgWarner Inc., a corporation incorporated under the laws of the State of Delaware, United States of America, having its registered office at 3850 Hamlin Road, Auburn Hills, Michigan 48326, United States of America (</FONT><B><I><FONT size=2 face="Times New Roman">BW </FONT></I></B><FONT size=2 face="Times New Roman">and together with the Bidder the </FONT><B><I><FONT size=2 face="Times New Roman">Acquirors</FONT></I></B><FONT size=2 face="Times New Roman">)</FONT></P>





   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">(the Shareholder, Bidder and BW each a </FONT><B><I><FONT size=2 face="Times New Roman">Party </FONT></I></B><FONT size=2 face="Times New Roman">and together the </FONT><B><I><FONT size=2 face="Times New Roman">Parties</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify"><B><FONT size=2 face="Times New Roman">PREAMBLE</FONT></B></P>

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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(A)</FONT></TD>

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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">AKASOL AG is a stock corporation (</FONT><I><FONT size=2 face="Times New Roman">Aktiengesellschaft</FONT></I><FONT size=2 face="Times New Roman">) incorporated under German law, having its registered office at Darmstadt, Germany, and registered with the commercial register of the Local Court of Darmstadt under HRB 97834 (the </FONT><B><I><FONT size=2 face="Times New Roman">Target</FONT></I></B><FONT size=2 face="Times New Roman">).</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" align=left></TD></TR>

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   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(B)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">On 15 </FONT><FONT size=2 face="Times New Roman">February 2021, the Parties entered into the &#8220;Agreement on the Irrevocable Undertaking&#8221; (the </FONT><B><I><FONT size=2 face="Times New Roman">Irrevocable Undertaking</FONT></I></B><FONT size=2 face="Times New Roman">), where the Bidder </FONT><I><FONT size=2 face="Times New Roman">inter alia </FONT></I><FONT size=2 face="Times New Roman">undertakes to make a voluntary public takeover offer within the meaning of Section 29 para. 1 of the German Securities Acquisition and Takeover Act (</FONT><I><FONT size=2 face="Times New Roman">Wertpapiererwerbs- und &#220;bernahmegesetz</FONT></I><FONT size=2 face="Times New Roman">) for the purchase of all shares issued by the Target (the </FONT><B><I><FONT size=2 face="Times New Roman">Offer</FONT></I></B><FONT size=2 face="Times New Roman">), the Shareholder, inter alia, undertakes to accept the Offer in respect of all shares the Shareholder holds in the Target and the Parties, inter alia</FONT><I><FONT size=2 face="Times New Roman">, </FONT></I><FONT size=2 face="Times New Roman">give explicit representations and warranties.</FONT></P></TD></TR>

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   <TD vAlign=top width="1%" align=left></TD>

   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left><FONT size=2 face="Times New Roman">(C)</FONT></TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Parties intend to settle all disputes arising out of or in connection with the Irrevocable Undertaking by arbitration. To fulfil the formal requirements according to Section 1031 para. 5 sentence 1 of the German Civil Procedure Code (</FONT><I><FONT size=2 face="Times New Roman">Zivilprozessordnung</FONT></I><FONT size=2 face="Times New Roman">), the Parties enter into this separate arbitration agreement:</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">27|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR>Irrevocable Undertaking<BR>Dr Bj&ouml;rn Eberleh</FONT></P>

<TABLE style="LINE-HEIGHT: normal" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR vAlign=bottom>

   <TD vAlign=top width="1%" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>

   <TD vAlign=top width="99%" align=left>



   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">All disputes arising out of or in connection with the Irrevocable Undertaking or its validity shall be finally settled in accordance with the Arbitration Rules of the German Arbitration Institute (DIS) without recourse to the ordinary courts of law. Claims of the Parties can be decided in a single arbitration (</FONT><I><FONT size=2 face="Times New Roman">multi-party-arbitration</FONT></I><FONT size=2 face="Times New Roman">). The arbitral tribunal shall be comprised of three members. The seat of the arbitration is Frankfurt am Main, Germany. The language of the arbitration shall be English. The rules of law applicable to the merits shall be the laws of Germany.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: center"><I><FONT size=2 face="Times New Roman">[signatures on the following page]</FONT></I></P>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">28</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Dr Bj&ouml;rn Eberleh</FONT></P>




<Div  ALIGN="RIGHT">
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 40%">

<TR vAlign=bottom>
   <TD STYLE="border-bottom: Black 1pt solid; width: 100%; text-align: left">
<FONT size=2 face="Times New Roman">/s/ Bj&ouml;rn Eberleh
</FONT>
</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="text-align: left"><FONT size=2 face="Times New Roman">Bj&ouml;rn Eberleh, Individually</FONT></TD></TR></TABLE>
   </DIV>
<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">29</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Dr Bj&ouml;rn Eberleh</FONT></P>
<DIV align=right>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR STYLE="vertical-align: bottom">
   <TD COLSPAN="2" STYLE="padding-right: 4pt; vertical-align: bottom; text-align: left"><B><FONT size=2 face="Times New Roman">Blitz F21-842 AG (in future: ABBA BidCo AG)
</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Robert Boyle
</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Robert Boyle
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Member of the Management Board
</FONT></TD></TR>
</TABLE></DIV>

<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">30</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>
<HR align=center width="100%" noShade size="2">



<DIV style="PAGE-BREAK-BEFORE: always"></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Project ABBA<BR></FONT><FONT size=2 face="Times New Roman">Irrevocable Undertaking<BR></FONT><FONT size=2 face="Times New Roman">Dr Bj&ouml;rn Eberleh</FONT></P>


<DIV align=right>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; border-collapse: collapse; width: 50%">

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left" colspan=2><B><FONT size=2 face="Times New Roman">BorgWarner Inc.

</FONT></B>
</TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; width: 2%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 98%"><FONT size=2 face="Times New Roman">/s/ Tonit M. Calaway
</FONT></TD></tr>

<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Name: Tonit M. Calaway
</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="padding-right: 4pt; vertical-align: bottom; white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD><FONT size=2 face="Times New Roman">Title: Executive Vice President, Chief<BR>
Administrative Officer, General Counsel, and<BR>
Secretary
</FONT></TD></TR>
</TABLE></DIV>



<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">31</FONT><FONT size=2 face="Times New Roman">|</FONT><FONT size=2 face="Times New Roman">31</FONT></P>


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<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>9
<FILENAME>bwa-20210215_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>10
<FILENAME>bwa-20210215_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
<TEXT>
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<span style="display: none;">v3.21.1</span><table class="report" border="0" cellspacing="2" id="idm139949507361976">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Feb. 15, 2021</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfCapitalizationEquityLineItems', window );"><strong>Schedule of Capitalization, Equity [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K/A<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentDescription', window );">Amendment Description</a></td>
<td class="text">This Amendment No. 1 to Current Report on Form 8-K/A is being filed by the Company to amend Item 9.01 of the Form 8-K to file the following as exhibits to the Form 8-K: (i) the BCA, which is filed as Exhibit 10.1 hereto and is incorporated herein by reference; (ii) the Irrevocable by and among Sven Schulz, Sven Schulz Group GmbH, the Company and BidCo, which is filed as Exhibit 10.2 hereto and is incorporated herein by reference; (iii) the Irrevocable by and among Stephen Raiser, the Company and BidCo, which is filed as Exhibit 10.3 hereto and is incorporated herein by reference; (iv) the Irrevocable by and among Felix von Borck, the Company and BidCo, which is filed as Exhibit 10.4 hereto and is incorporated herein by reference; and (v) the Irrevocable by and among Dr. Bj&#246;rn Eberleh, the Company and BidCo, which is filed as Exhibit 10.5 hereto and is incorporated herein by reference.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Feb. 15,  2021<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-12162<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">BorgWarner Inc.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000908255<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">13-3404508<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">3850 Hamlin Road<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Auburn Hills<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">MI<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">48326<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">248<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">754-9200<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember', window );">Common Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfCapitalizationEquityLineItems', window );"><strong>Schedule of Capitalization, Equity [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock, par value $0.01 per share<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">BWA<span></span>
</td>
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<tr class="ro">
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<td class="text">NYSE<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=bwa_SeniorNotesDueNovember2022Member', window );">Senior Notes Due November 2022 [Member] | Senior Notes [Member]</a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfCapitalizationEquityLineItems', window );"><strong>Schedule of Capitalization, Equity [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">1.80% Senior Notes due 2022<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">BWA22<span></span>
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<td class="text">NYSE<span></span>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
