KER UPDATE ON THE MANDATORY SELL-OUT PROCEEDING

Kernel Holding S.A., a Luxembourg-registered company (the "Company"), hereby informs that, on 7 August 2026, the Company received from Namsen Limited, the Company's majority shareholder, a letter concerning the mandatory sell-out proceeding in respect of the Company's shares (ISIN LU0327357389) conducted under Article 5 of the Luxembourg law of 21 July 2012 on mandatory squeeze-out and sell-out of securities of companies currently admitted or previously admitted to trading on a regulated market or having been offered to the public, as amended, and the decision of the Commission de Surveillance du Secteur Financier dated 30 June 2026 setting the fair price of the shares of the Company at PLN 19.93 per share, as disclosed in Current report No. 17/2026 dated 1 July 2026.
The letter, together with its attachment, namely the Notice on the conditions for the exercise of the mandatory sell-out in respect of the shares of the Company, is enclosed to this report. The Company will inform the market of any further material developments in connection with the sell-out procedure, as required under applicable laws and regulations.