Outlook Update for Fiscal Year 2020

On December 22, 2020, the Management Board decided in the context of the preparation of the financial statements 2020 to specify the published expectations of the business development for Fiscal Year 2020, i.e. Nevertheless, the overall EBIT for the Fiscal Year 2020 will be negative since it will be affected by further necessary reorganization measures for which an accrual has to be booked in December 2020 in a lower- to mid-double digit million-euro amount. For Fiscal Year 2021, the Management Board expects that the economic recovery will continue; compared to Fiscal Year 2020, higher revenues and a positive EBIT is expected. Despite of the challenging economic environment, a positive Free Cashflow in the range of € 30 million to € 40 million is expected for fiscal Year 2020 (previous year: € 20.7 million). Augsburg, December 22, 2020KUKA AktiengesellschaftThe Management Board