CORPORATE NEWS

Daldrup & Söhne AG receives drilling order
from MTU Aero Engines AG

• MTU relies on process and space heat from geothermal energy
• Convincing advantages of geothermal energy at the point of use

Oberhaching / Ascheberg, 9 January 2023. Daldrup & Söhne AG (ISIN DE0007830572), drilling technology and geothermal specialist, has been awarded the general contractor contract by MTU Aero Engines AG for the construction of a geothermal doublet including the construction of the drilling site at the Munich location. The contract value for each of the approx. 3,300 m long boreholes is in the lower 2-digit million range. Work is scheduled to begin in spring 2023. MTU will use the geothermal energy as process and space heat in its operating buildings. In this way, MTU expects to be able to save up to 88% of the current fossil energy. The use of geothermal energy for cooling is also being investigated. Renewable heat from underground is generated directly at the point of consumption.

Andreas Tönies, Chairman of the Board of Daldrup & Söhne AG, attaches great significance to the order: "MTU has recognised the potential of geothermal energy for heat supply. This is the first German DAX-listed company to take an important step towards decarbonising its energy-intensive production with the help of geothermal energy. Other companies will follow this example."

The attractiveness of geothermal heat for the energy supply of industrial companies is essentially based on the independence from fossil fuels, the economically well calculable long-term energy costs and the almost CO2-neutral production. In addition, there is the advantage of demand-oriented energy generation at the point of use without costly investments in the energy infrastructure.

In order to implement the key points paper on geothermal energy (“Eckpunktepapier Geothermie” published by the Federal Ministry of Economics and Climate Protection and to achieve a broader acceptance of geothermal energy among industrial and commercial enterprises, the legislator must now streamline and accelerate the approval procedures and expand the funding options. Without geothermal energy, a decarbonised heat supply and security of supply in Germany and Europe cannot be achieved.

About Daldrup & Söhne AG

Daldrup & Söhne AG (ISIN: DE0007830572, WKN: 783057) with a corporate history spanning more than 75 years is a specialist provider of drilling and environmental services and ranks as one of the leading companies in Germany. Its activities are divided into the business divisions Geothermics, Raw Materials & Exploration, Water Extraction as well as Environment, Development & Services (EDS). The Geothermics business division provides drilling services for near-surface geothermics (especially geothermal probes of heat pumps), along with drilling services for deep geothermics up to 6000 m, in order to utilise the geothermal energy accessible in this way for electricity and/or heat generation. In the Raw Materials and Exploration business division, the bores made by Daldrup & Söhne AG serve for exploring and developing fossil fuel deposits (especially coal and gas) as well as mineral resources and ores (e.g. copper and gold). The Water Extraction business division comprises well construction for the extraction of drinking, service, curative, mineral, boiler-feed or cooling water as well thermal brine. The Environment, Development & Services (EDS) business division comprises special environmental engineering services such as the hydraulic clean-up of contaminated sites, the drilling of gas extraction wells for recovering waste dump gas, the provision of groundwater quality measuring points or the installation of water purification plants.

The shares of Daldrup & Söhne AG are listed in the Scale (sub-segment in the open market of the Frankfurt Stock Exchange) and the respective index of selection Scale30.

Disclaimer

This publication represents neither an offer for sale nor a call to submit a tender for the purchase or underwriting of securities. This publication and the information it contains is not intended for direct or indirect dissemination in or within the United States of America ("USA"), Canada, Australia or Japan.

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