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GORENJE, d.d., Velenje

Update on the ongoing exploration of strategic partnership opportunities

Pursuant to the provisions of the Rules and Regulations of the Ljubljana Stock Exchange d.d., Financial Instruments Market Act (ZTFI), and the Corporate Governance Code of the Ljubljana Stock Exchange and Warsaw Stock Exchange, the company Gorenje d.d., Velenje, hereby makes the following announcement:

Following the March 8, 2018 announcement relating to the exploration of strategic partnership opportunities, Gorenje, d. d., is providing the following update on the process development.

In addition to the four previously disclosed non-binding offers, Gorenje received a fifth non-binding on March 13, 2018. The offer is from a potential strategic partner in Europe, active in the household appliance industry.

Following a thorough analysis and review of strategic business elements as well as other elements of all five non-binding partnership offers received, Gorenje has invited 3 potential partners into the due diligence phase of the process. All three are based in Asia, are active in the household appliances industry and have submitted offers to acquire a majority stake in the company (at least 50% +1 shares of the whole share capital).

In the due diligence phase of the process potential partners will be granted access to a Virtual Data Room on the Gorenje Group from March 23, 2018 onwards, invited to selected site visits at Gorenje Group facilities as well as meetings with top management during April 2018.

The deadline for submitting binding offers has been set for May 8, 2018.

Taking into account the provisions of the signed confidentiality agreements with interested strategic partners, Gorenje will not comment on potential speculations in the media or general public regarding the names of the interested partners.

The next update on the process will be provided by May 15, 2018.

Disclaimer: The English text for all announcements is for information purposes only!

The information in this announcement will be available on the official web site of the company Gorenje, d.d., Velenje, Slovenia, www.gorenjegoup.com, for at least 5 years from the date of this announcement.

Gorenje, d.d.,
The Management Board
Date: 14.03.2018