Group figures Download G RO U P F I G U RE S KEY FINANCIAL PERFORMANCE INDICATORS: EARNINGS RATIOS 1) Revenue EBITDA EBIT EBITDA margin EBIT margin OTHER FINANCIAL FIGURES: EARNINGS RATIOS 1) Earnings after taxes Earnings after minorities BALANCE SHEET RATIOS Balance sheet total Equity Equity ratio Working capital employed 2) Net debt 3) Gearing 4) CASH-FLOW AND CAPEX Cash flow from operating activities Cash flow from investing activities Free cash flow 5) Cash flow from financing activities in m€ in m€ in m€ in percent in percent in m€ in m€ in m€ in m€ in percent in m€ in m€ in percent in m€ in m€ in m€ in m€ 2017 1,533.0 218.9 132.5 14.3% 8.6% 2018 1,559.6 252.5 161.2 16.2% 10.3% 2019 1,520.1 240.8 131.7 15.8% 8.7% 2020 1,530.4 233.5 107.2 15.3% 7.0% 2021 2,041.7 332.2 193.5 16.3% 9.5% 2017 83.9 44.7 2018 114.2 67.5 2019 95.7 54.5 2020 69.5 34.9 2021 142.9 82.5 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 1,465.2 1,353.9 528.6 36.1% 238.4 375.0 70.9% 2017 161.3 -154.0 7.3 -118.0 550.8 40.7% 245.3 323.3 58.7% 2018 85.5 -102.1 -16.7 -63.3 1,613.9 618.6 38.3% 274.2 395.8 64.0% 2019 257.4 -165.7 91.6 -20.6 1,686.0 2,033.7 654.1 38.8% 181.5 312.4 47.8% 2020 312.8 -147.0 165.8 -104.7 765.6 37.6% 160.5 189.9 24.8% 2021 367.4 -195.1 172.2 -27.6 Capital expenditure 1) 6) in m€ 176.3 165.1 148.9 150.2 178.5 VALUE CREATION ROCE (Return on capital employed) 7) ROE (Return on equity) 8) ROIC (Return on invested capital) 9) 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 in percent in percent in percent 13.9% 17.1% 10.4% 16.6% 21.2% 13.6% 12.7% 16.4% 10.6% 9.7% 10.9% 7.7% 17.4% 20.1% 13.0% STOCK EXCHANGE RATIOS 10) Share price as of December 31; SIX Swiss Exchange 11) Number of shares 11) Market capitalization 12) Earnings per share 13) Book value per share 13) 14) 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 in CHF in m shares in m CHF in € in € 7.39 225.39 1,665.61 1.98 23.45 60.60 22.54 54.00 22.54 71.10 22.54 94.00 33.80 1,365.84 1,217.09 1,602.50 3,176.87 2.99 24.44 2.42 27.45 1.56 29.02 3.34 22.65

4 Revenue (in m€) 2021 2020 2019 2018 2017 EBIT (in m€) 2021 2020 2019 2018 2017 EBITDA (in m€) 2021 2020 2019 2018 2017 Employees (number as of the reporting date) 2021 2020 2019 2018 2017 Sales PTWs (units) 2021 2020 2019 2018 2017 2,042 193.5 332.2 PIERER Mobility (continued operation) Pankl (discontinued operation) 1,530 1,520 1,462 1,560 1,354 1,533 PIERER Mobility (continued operation) Pankl (discontinued operation) 107.2 131.7 128.7 161.2 121.9 132.5 PIERER Mobility (continued operation) Pankl (discontinued operation) 233.5 240.8 211.0 252.5 193.1 218.9 PIERER Mobility (continued operation) Pankl (discontinued operation) 5,249 4,586 4,368 4,303 4,194 5,887 E-Bicycles Motorcycles 280,099 261,454 238,334 409,797 326,471

6 S U S TA I N A BI L I T Y H I G H L I G H T S 2021 K E Y F I G U RE S 131 M€ invested in product development 61.14 G/KM around 2.3 M€ invested in further fleet emissions 1) education of employees 8.4 Lost Time Frequency 90% procurement volume within europe Injury Rate 3) for series production 18.8 M€ invested in alternative drive technologies around 124,000 hours of further compliance cases, incidents with fine or penalty after recalls 0 99.5% renewable energy training of employees share 4) 1) Reduction in energy demand for products (motorcycles and e-bicycles: Ø Emission in g/km ; 2) Calculated from the units of motorcycles and e-bicycles sold (number of units). 3) Rate excl. temporary workers; The LTIFR is the number of lost-time injuries (of at least one workday) per million hours worked, calculated using the formula: LTIFR=(Number of lost-time injuries ) / (Total hours worked in accounting period) x 1,000,000. 4) Electricity and district heating at the main company and production sites of KTM AG, KTM Technologies GmbH, PIERER Mobility AG; 5) t-C02-e compared to the previous year, based on Scope 1 + 2 emissions “location based”

8 K E Y S U S TA I N A BI L I T Y G OA L S 202 2 A N D BE YO N D Electrification of the car fleet - target 20%. Focus on the use of reusable packaging. Increase the reusable quota to 25%. Implement an ESG platform for supplier evaluation with regard to social and environmental criteria. Increase the share of verified series suppliers to 80%. Installation of further photovoltaic systems (logistics center 2, component production). Attract more women to technical professions and increase the proportion of female employees, especially in production. Continuous expansion of training and further education offers (KTM_academy). Reduce the amount of residual waste by 10% in the coming years. Technology openness of the drive concepts. At least three electric platforms with several products will be introduced by 2024. From 2024, „blended fuels“ will be used in MotoGP (regular fuel with e-fuel added), and from 2027, motorsport will be run exclusively on e-fuels. By 2030, at least a third of the Group‘s sales will be generated with electrified two-wheelers. © KTM

10 DNA P I E R E R M O B I L I T Y CONTINUED GROWTH ~16% sales unit CAGR since 1992 resulting in EUR 2,042 million revenue in 2021. PREMIUM BRANDS Strong brands secure sustainable profitability & market presence. Product leadership driving gains in market share. STRONG FOCUS ON RETURNS EBITDA-Margin > 15% and strong Free-Cash-Flow generation. PIONEER IN POWERED TWO-WHEELER (PTW) ELECTRIFICATION E-MOBILITY SALES EUR 181 million in 2021 ~ 60% Sales CAGR since 2019. HIGH INNOVATION RATE Research and Development expenses are around 8 - 9% of revenues. BRABUS 1300 R MAGMA RED, MY22 © KTM

12 FO RE W O RD F RO M T H E E X ECU T I V E BOA RD The PIERER Mobility Group can look back on a new record-breaking year in 2021. The main challenges for the successful continuation of our growth trajectory were the unstable international supply chains, securing the required production capacities as flexibly as possible and minimizing the risks arising from the COVID-19 PANDEMIC for the employees. In 2021, thanks to the high market demand for Powered Two-Wheelers (PTWs) and active manage- ment of the challenges outlined above, the PIERER Mobility Group achieved record growth in both sales and earnings despite the challenging situation. With 332,881 motorcycles sold under the KTM, Husqvarna and GASGAS brands (previous year: 270,407), PIERER Mobility increased its sales by 23% in the 2021 financial year. This was driven by the high global demand for motorcycles. In Europe, unit sales were around 120,000 motorcycles and around two-thirds of the motorcycles (around 210,000) were sold in markets outside Europe, in particular in North America, India and Australia. In addition, the Bicycle Division with its Husqvarna, R Raymon and GASGAS brands achieved sales growth of more than 40%, selling 102,753 bicycles (previous year: 73,277) of which 76,916 were e-bicycles (previous year: 56,064). The completion of the simplification of the ownership structure between the Pierer Group and the Indian Bajaj Group in Q4 2021 should be seen as an important milestone for the company. As planned, in a first step the Bajaj Group contributed a 46.5% share package in the operating subsidiary KTM AG to Pierer Bajaj AG, the majority shareholder of PIERER Mobility AG held by the Pierer Group. In return, Bajaj received a 49.9% stake in Pierer Bajaj AG. In a sec- ond step, this 46.5% KTM share package now held by Pierer Bajaj AG was contributed to PIERER Mobility AG as part of an almost 50% capital increase through contributions in kind. 11,257,861 new shares were issued in the process. This capital increase through contributions in kind from the authorized capital amounting to € 895 million, corresponding to exactly 49.9% of the existing share capital, was carried out with exclusion of subscription rights. Only Pierer Bajaj AG was admitted to subscribe. As a result of this “uplifting project” including the capital increase, PIERER Mobility‘s stake in the operating KTM AG (after acquisition of the remaining approximately 1.5% KTM AG shares held by Bajaj) increased to 99.8% (previous year: 51.7%). In 2022, the remaining 0.2% will be transferred to the main shareholder PIERER Mobility AG in return for an appropriate cash settlement (squeeze-out). This means a clear structure will be created in the PIERER Mobility Group on a sustainable basis and, in the process, the minority interests (“Minorities”) will be reduced to a negligible level. In the 2021 financial year, the bundling of the operating activities of the Bicycle Division was successfully completed in PIERER E-Bikes GmbH. An important highlight was the acquisition of the US brand “FELT” in November. FELT Bicycles was founded in 1991 in Califor- nia, USA, and is known for manufacturing high-performance road, triathlon, track, cyclocross and gravel bikes. FELT bikes have been ridden to stage wins in Grand Tours and earned record-breaking triathlon world championship titles, Olympic gold medals and world championship titles on a variety of different terrains. The process of integrating the FELT brand into PIERER E-Bikes GmbH has already begun. It is also worth noting the major successes in motorcycle racing in 2021. A total of 21 world championship titles were won under the three KTM, Husqvarna and GasGas brands in both road and off- road racing. Jeffrey Herlings secured the MX GP world championship crown riding a KTM bike, Coober Webb (also KTM) was crowned Supercross Champion and Billy Bolt (Husqvarna) won the Hard Enduro Series, to name just a few. In road racing, two KTM riders triumphed in Moto2™, Remy Gardner ahead of his teammate Raul Fernandez, both of whom are also moving up to MotoGP™ in 2022. In January 2022, Sam Sunderland won the prestigious Dakar Rally for the group riding GASGAS. Matthias Walkner, the reigning Cross Country Rallies World Champion, claimed the second podium spot, finishing third in the standings.

14 full speed ahead with its vision to become the world leader in the field of electrically powered two-wheelers (PTW). Focusing on the power range from 250 W to 11 kW, the Group is taking the next steps to intensify research & development (R&D) in the field of electric mobility. The investment volume for the 7,780 m2 e-mobility center of expertise is EUR 20 million. This state-of-the-art facility can accommodate 150 employ- ees and is located right next to Europe‘s largest independent industrial designer KISKA Designstudio, in Anif near Salzburg/Austria. The biggest infrastructure investments in 2021 involved the expansion of the logistics center at the Munderfing site (scheduled for completion in 2022) and the expansion of the new GASGAS production site in Terrassa, Spain. MAXCOM Ltd. is one of the largest bicycle manufacturers in Eastern Europe and a member of the MAXEUROPE Group in Bulgaria. Maxcom already produces R RAYMON bicycles for PIERER E-Bikes GmbH, and increasingly also Husqvarna E-Bicycles. CFMOTO should also be mentioned as another important joint venture partner. The deeper cooperation with partner CFMOTO to establish an additional production facility and supply chain in China has started successfully with the assembly of around 10,000 mid-range motorcycles in 2021. At the joint venture factory in Hangzhou, the 790 cc twin-cylinder platform will be used to create a model family for new, affordable mid- range Duke and Adventure models. Around 25,000 motorcycles are set to be produced in 2022. STRATEGIC PARTNERSHIPS OUTLOOK As a pioneer in the electrification of motorized two-wheelers, the PIERER Mobility Group already generated sales revenues of around € 181 million (+55%) with electrically powered two-wheelers (e-motorcycles and e-bi- cycles) in 2021. In this context, the two strategic partnerships in the field of e-mobility which were entered into in 2021 with Bajaj on the one hand and VARTA on the other hand should be highlighted. PIERER Mobility AG and Bajaj Auto Limited, India‘s second largest motorcycle manufacturer, have now consolidated their 15-year strategic partnership in the international motorcycle industry to include the devel- opment of electric products in the two-wheeler sector. This is in order to meet the growing demand for innovative e-mobility concepts. Both com- panies are exploring common themes, such as the zero-emission exhaust system, low maintenance and durability of light electric vehicles in urban environments and metropolitan areas. This strategy also includes an open approach to different battery solutions to make use of both integrated and removable batteries. Another strategic cooperation for the development of high-efficiency battery systems in the electric two-wheeler sector was agreed in March 2021 by PIERER Mobility AG and VARTA AG, the leading European man- ufacturer of Li-ion cells and a global innovation and technology leader. VARTA and KTM are keen to send a strong signal both within and from Europe with highly efficient battery systems. The objective is to cooperate in the areas of research, development, production, marketing and sales as well as in the area of take-back, recycling and the 2nd life of batteries. The cooperation partners see great potential for the development of a platform battery for lightweight electric vehicles in the 48 volt range with peak performances of up to around 20 kW. To expand the bicycle and e-bike production capacity, in 2021 a 50:50 joint venture was established with MAXCOM Ltd. for e-bike production in Plovdiv. A state-of-the-art e-bike production and assembly facility is being built over an area of 130,000 m². International suppliers will also be given the opportunity to locate themselves at the site. Commissioning is scheduled for the second half of 2023. The annual production capacity will be around 350,000 units. PIERER Mobility AG is contributing all of its vehicle development and production expertise to the joint venture. For the 2022 financial year, the Executive Board anticipates renewed growth with earnings within the long-term range. However, challenges in the international supply chains must continue to be expected in 2022, as capacity and supply bottlenecks at individual suppliers and in interna- tional transport logistics may lead to delays with deliveries. Wide-ranging measures in the area of supply chain management and a high degree of flexibility in production planning are aimed at identifying and minimizing negative effects in good time. The expected challenges and their conse- quences are to be mitigated by the supplier risk assessment, which was revised last year, as well as the program implemented to provide advance warning of global events that directly or indirectly affect the supply chain. On the sales side, PIERER Mobility continues to view the market as consistently positive. Growth is expected to be driven primarily by the continued high global demand and the megatrend toward two-wheelers as well as increasing numbers of electric vehicles, especially in urban areas. In line with the strategic objective of contributing to emissions reduction and neutrality, the focus of development work in the years to come will increasingly be on alternative drive systems in the range up to 15 kW. In the range above this, efforts will focus on the technological advancement of conventional forms of propulsion with synthetic fuels for avoiding CO2. The main goal is to fully exploit the innovation and development potential in the area of electric mobility and to help shape the growing market and secure market share with e-fuel-powered combustion engines as a global player with strong brands. At least three electric platforms with multiple products will be introduced by 2024. While the focus in 2021 in the Bicycle Division was primarily on broaden- ing the establishment of the Husqvarna E-Bicycles and R RAYMON brands in European markets and expanding the network of dealers in the core markets of Germany, Austria and Switzerland (DACH), the acquisition of the FELT brand opens up a new range of product, sales and development opportunities. This is because, with FELT, the existing range of bicycles has been expanded to include the racing segment in particular – a special, new appeal. In conjunction with the existing e-bike products, this creates a comprehensive product mix.

16 BO DI E S O F T H E C O M PA N Y E X EC U T I V E B O A RD Stefan Pierer CEO Appointed until December 31, 2023 Friedrich Roithner CFO Appointed until December 31, 2023 Hubert Trunkenpolz Appointed until December 31, 2023 Viktor Sigl Appointed until December 31, 2023 S U P E R V I S O RY B O A RD Josef Blazicek Chairman of the Supervisory Board Elected until the end of the Annual General Meeting deciding on the ratification of the 2025 financial year Ernst Chalupsky Deputy Chairman of the Supervisory Board Elected until the end of the Annual General Meeting deciding on the ratification of the 2025 financial year Alfred Hörtenhuber Member of the Supervisory Board Elected until the end of the Annual General Meeting deciding on the ratification of the 2022 financial year Klaus Rinnerberger Member of the Supervisory Board Elected until the end of the Annual General Meeting deciding on the ratification of the 2024 financial year

18 and a global innovation and technology leader, should be highlighted. PIERER Mobility AG and Bajaj Auto Limited, India's second largest motorcycle manufacturer, have now consolidated their 15-year strate- gic partnership in the international motorcycle industry to include the development of electric products in the two-wheeler sector. This is in order to meet the growing demand for innovative e-mobility concepts. To expand the bicycle and e-bike production capacity, in 2021 a 50:50 joint venture was established with MAXCOM Ltd. for e-bike production in Plovdiv. CFMOTO should also be mentioned as another important joint venture partner. The deeper cooperation with partner CFMOTO to establish an additional production facility and supply chain in China has started successfully with the assembly of around 10,000 mid- range motorcycles in 2021. On March 1st 2022, trading also commenced in official trading (seg- ment: Prime Market) of the Vienna Stock Exchange, which means that the shares of PIERER Mobility AG are listed in the top segment of the Vienna Stock Exchange. This step is intended to satisfy the great level of interest among investors in Austria and abroad. In the 2021 financial year, all existing 193,340 treasury shares were sold to institutional investors. WORKING CULTURE AND FOCUS OF THE SUPERVISORY BOARD MEETINGS The Supervisory Board held seven meetings in the reporting year, some of which were conducted by telephone or video conference due to the pandemic. In addition, there were further coordination discussions by telephone and resolutions passed by electronic, telephone, or written means. Attendance by members was again at a very high level, as can be seen in the detailed overview at the end of this report. The Supervisory Board's work was characterized by an open and intensive exchange of views. At the meetings of the Supervisory Board, its mem- bers discussed the measures and transactions to be decided upon in detail with the Executive Board. The members of the Supervisory Board regularly prepared for upcoming resolutions on the basis of documents provided by the Executive Board. In its meetings, the Supervisory Board regularly monitored the work of the Executive Board, was informed by the Executive Board about projects and the course of business and business planning - including non-financial performance indicators, and also advised the Executive Board on key strategic decisions. The Supervisory Board also dealt with the corporate governance of the company and compliance manage- ment. In the 2021 financial year, the Code of Conduct of the PIERER Mobility Group was also revised and published in the new version dated September 1, 2021. Other focal points of the Supervisory Board's activities included dealing with new legislation, the legal framework and new, pioneering technologies. Outside of the regular meetings, the Supervisory Board was notified about special events. In addition, the members of the Supervisory Board and the Executive Board held bilateral meetings to exchange views. The Executive Board also in- formed the Supervisory Board about the most important indicators of business development and existing risks by providing verbal reports. At its first meeting on February 24, 2021, the Supervisory Board adopted the budget for the 2021 financial year. In line with the 2021 draft budget which was submitted in December 2020, this was asses- sed again and the 2021 budget was determined on the basis of the business development in the first two months of 2021 and the estimate for the 2021 financial year. The new medium-term planning was also presented to the Supervisory Board. Furthermore, a (virtual) Extraor- dinary General Meeting was held on February 26, 2021 and addressed and resolved on the amendment of the Articles of Association in Section 8 and the supplement to the Articles of Association by adding Section 17 relating to an opting-out clause in accordance with Swiss takeover law. In the meeting on March 23, 2021, the Supervisory Board dealt pri- marily with the discussion and resolution on the audit and adoption of the 2020 annual financial statements, the 2020 management report, and the audit of the 2020 consolidated financial statements, the 2020 consolidated management report, the corporate governance report and the sustainability report (non-financial report pursuant to Section 267a of the Austrian Commercial Code (UGB)). Furthermore, the Supervisory Board dealt with the agenda and the proposed resolutions, as well as the COVID measures for the Annual General Meeting. Out of a total of 238 reports (online and print version) examined in the Swiss Annual Report Rating 2021, PIERER Mobility AG was among the top 20 best-rated companies and came fifth in the “Value Reporting” category. The Swiss Annual Report Rating evaluates annual reports of those companies that are represented in the Swiss Performance Index SPI on the SIX Swiss Exchange, as well as the fifty Swiss companies that generate the highest revenue. The meeting on May 28, 2021 focused on the course of business over the first four months of 2021, the reports of the group companies, and the financial status. Furthermore, the status of the “Uplifting Bajaj” project and the sale of treasury shares was reported. The Supervisory Board meeting on August 26, 2021 focused on the 2021 half-year re- port, the status report on the “Uplifting Bajaj” project, and the revenue forecast for 2021. Due to the continued positive global demand for mo- torized two-wheelers (motorcycles and e-bicycles), the Executive Board announced on August 26, 2021 that it would again raise the revenue forecast for the 2021 financial year which was published in April 2021. At the meeting on September 29, 2021, the Supervisory Board was notified of a current interim assessment of the KTM AG Group, which provides the auditors with a basis for the planned contribution. The Supervisory Board meeting held on October 19, 2021 dealt with the re- solution on the approval of the utilization of the authorized capital and the implementation of the capital increase in return for a contribution in kind as part of the “Uplifting Bajaj” project as well as the resolution on the amendment of the Articles of Association as a result of the utili- zation of the authorized capital. The last meeting of the 2021 reporting year took place on December 17, 2021 and dealt with the course of business after eleven months and the outlook for the 2021 financial year as a whole. The Group companies and the financial status were also reported on at this meeting. Furthermore, the budget for 2022 was

20 The Supervisory Board examined and approved the corporate go- vernance report and the sustainability report (non-financial report pursuant to Section 267a of the Austrian Commercial Code (UGB)) for the 2021 financial year. Furthermore, the Supervisory Board has prepared a remuneration report together with the Management Board pursuant to Section 78c of the Austrian Stock Corporation Act (AktG). The Supervisory Board concurs with the Executive Board with regard to the proposal concerning the distribution of the net profit achieved during the 2021 financial year. Moreover, at the recommendation of the Audit Committee, a pro- posal for the appointment of the auditor for the 2022 financial year was prepared for the 25th Annual General Meeting. KPMG Austria GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft, Linz, is proposed as auditor for the financial year commencing on January 1, 2022 and ending on December 31, 2022. The Supervisory Board would like to thank the Executive Board, as well as all employees and the racing team, for their dedication and contribution to the pleasing results achieved during the last financi- al year. We would also like to convey our thanks to the shareholders, customers and partners who placed their trust in the company and who have therefore played a fundamental role in this success. Wels, March 2022 Chairman of the Supervisory Board Josef Blazicek Committee also exchanged information on other services provided by KPMG outside the scope of the final audit. The Audit Committee discussed and reviewed the summarized “non-financial report”. All questions relating to this were answered by the Executive Board. In addition, an independent limited assurance engagement on the consolidated non-financial report pursuant to Section 267a of the Austrian Commercial Code (UGB) was performed by KPMG again in the last financial year. The Audit Committee stated in its report to the Supervisory Board that it agreed with the result from the auditor, and, following its audit of the annual financial statements and management report, together with the consolidated financial statements, the consolida- ted management report, the corporate governance report and the sustainability report for the 2021 financial year, it concluded that the documents submitted for auditing are correct and in compliance with the law, that the Executive Board’s decisions regarding ac- counting policy are cost-effective and appropriate, and there is no reason for any objections. In the 2022 financial year, risk reporting and reporting on CSR & sustainability will be further expanded in the Audit Committee. The Supervisory Board agrees with the report of the Audit Commit- tee and thereby with the result of the final audit. In its assessment of the situation of the company and the Group, the Supervisory Board concurs with the assessment expressed by the Executive Board in the consolidated management report and the manage- ment report. All questions posed by the Supervisory Board were answered by the auditor and the Executive Board. The final result of the Supervisory Board’s audit of the annual financial statements and the management report, as well as the consolidated financial statements, the consolidated management report, the corporate go- vernance report and the sustainability report for the 2021 financial year, also gives no reason for any objections. Having been accepted by the Supervisory Board, the annual financial statements for the 2021 financial year can be deemed to have been approved pursuant to Section 96 (4) of the Austrian Stock Corporation Act (AktG). The Supervisory Board acknowledged the consolidated financial statements and the consolidated management report for the 2021 financial year. In the 2021 financial year, the Executive Board and Supervisory Board again paid attention to the further development of corporate governance at PIERER Mobility AG. Awareness of, as well as a commitment to, the principles set out in the Code of Conduct and Compliance Guidelines was consistently promoted and expanded over the course of the 2021 financial year.

22 RE A DY T O R A CE RI G H T F RO M T H E S TA R T KTM is Europe’s leading performance manufacturer of premium street and offroad powered two-wheelers, based in Mattighofen, Austria. To describe KTM’s brand philosophy in one phrase is simple: READY TO RACE. Long before any thought of producing compe- tition motorcycles, KTM founder Hans Trunkenpolz and his son Erich were heavily involved in motorsports themselves. Originally running an automotive repair and spare parts fabrication work- shop in Mattighofen, Austria, the family business soon expanded to include the sale of motorcycles. By the 1950s they had de- veloped their own motorcycle design, with the first production models released in 1953 under the KTM name, competing suc- cessfully in local races from the very start. The KTM name stands for Kronreif, Trunkenpolz (the two original founders), Mattighofen (the town in which it all started and in which it continues to this day) and has been synonymous with the distinct READY TO RACE mentality since day one. Over the years KTM has built a reputation as a fierce competitor on racetracks around the world. READY TO RACE is the brand’s main identifying feature and hundreds of World Championship titles are the ultimate proof of KTM’s irrefutable racing attitude. The brand’s remarkable success on the world stage is reflected in every product it creates and in each direction it takes. With an iconic unrivaled presence in the offroad segments, KTM has progressed to become one of the world’s most innovative manu- facturers of street motorcycles, and now aims to be the world’s biggest manufacturer of sport motorcycles while further ex- panding its position in the two-wheeled electric vehicles market across continents. GLOBAL BRAND POSITIONING & MOTORSPORT AS A CENTRAL MARKETING INSTRUMENT Aside from its superb output and its distinct READY TO RACE philosophy, the foundation of the brand’s success is rooted in its values: PURITY, PERFORMANCE, ADVENTURE, and EXTREME. They lie at the heart of all KTM’s endeavors and serve as a guiding compass to every product and activity the brand initi- ates. Empowered by this distinct and consistent positioning and communication, KTM is able to identify expansion opportunities all over the world and take swift advantage of them through a se- ries of strategic actions. The growing global KTM brand presence, along with the company’s continued focus on racing and impres- sive gains in the street and travel-enduro segments, are all part of its steady worldwide expansion. Motorsport has been a core activity for both marketing and de- velopment (with knowledge and expertise from the track directly contributing to the development of consumer products). Since KTM first started twisting throttles with strategic goals, it has amassed a phenomenal tally of 327 FIM World Championship titles across most racing disciplines: from the epic majesty of the Dakar Rally to the global glamor of MotoGP™. KTM’s notable achievements include eight premier class MXGP titles since 2010, five AMA 450SX Supercross championships, 18 consecutive years of Dakar dominance, a litany of titles across the classes in the varying categories of enduro and a rapid impact in Grand Prix road racing. KTM has snared five Moto3™ crowns since the inception of the series in 2012 and recently swept both Moto3™ and Moto2™ contests thanks to the talent in its ‘KTM GP Academy’. 2021 marked only half a decade of action on the MotoGP™ grid but KTM has already taken its RC16 technology to five GP triumphs and more than 10 podium finishes. The spoils, effort, and entertainment are helping to create stories that move fans worldwide. The ambitious objectives of the group therefore go hand-in-hand with a determined motorsport strategy, as this has a direct im- pact on KTM’s global sales activities. Motorsport is, and remains, the central medium for communicating the brand and increasing a valuable emotional connection with the public.

24 READY TO RACE P U RI T Y P E RF O R M A N C E A DV E N T U RE E X T RE M E KTM 1290 SUPER ADVENTURE S, MY22 © KTM/Rudi Schedl BRAVE, INNOVATIVE & DIVERSE PRODUCT DEVELOPMENT Equally central to KTM’s prolificacy is taking field-proven racing technol- ogies and directly incorporating them into serial products. The brand’s winning culture flows into the machinery and everything else done at KTM. An essential element of KTM’s long-term growth strategy is to further extend the product range and open up new markets. The constant focus on research and development therefore ensures that KTM is well equipped to remain on the cutting-edge of the industry. With leading suppliers in the advanced technologies sector, as well as KTM both mutually benefiting by collaborating in pre-series development; KTM has acquired a foremost position as a development partner for high-performance rider assistance systems, electronics, and unrivalled steel chassis nuance. In addition, the efforts to reflect the quality of the company across the en- tire sales network are increasing every year. The strengthening of regional trading structures through intensive training activities has long been an important element of KTM’s business. Geared for the future, KTM success- fully markets products that were developed with a great deal of craftsman- ship. With its long history and unique motorsports program, KTM is con- tinually striving to employ the highest development standards, improve its competitiveness, and make further inroads into global markets. Innovation is the decisive factor that will spur KTM on to realizing this vision. In 2021 the street portfolio was boosted by the evolution of the KTM 1290 SUPER DUKE with the revised R model, the KTM 1290 SUPER DUKE R EVO and the long-awaited update for the sports-touring master: the KTM 1290 SUPER DUKE GT. Limited edition, track-based offerings such as the 500- unit exclusive KTM 1290 SUPER DUKE RR and 100-unit exclusive KTM RC 8C were sold out in under 48 minutes and under 4 minutes respectively via KTM’s online sales channels (ktm.com). 25 Lucky KTM RC 8C owners had the opportunity to collect their bikes at an exclusive event in Jerez that included a race track experience with Red Bull KTM Factory Racing test riders Dani Pedrosa and Mika Kallio. As KTM continues to diversify and excite consumers, current and new – the brand intends to use its digital sales channel to repeat its exciting feat of selling out in record speed. In the travel-enduro segment, KTM’s steadily growing ADVENTURE family, sets the industry benchmark. The release of the latest KTM 1290 SUPER ADVENTURE S and KTM 1290 SUPER ADVENTURE R models solidified KTM’s position as the leader for performance, handling, and technology. The flagship KTM 1290 SUPER ADVENTURE S carried a fresh generation of semi-active suspension technology and other benefits such as Adaptive Cruise Control as standard. Underlining its leading role in the offroad sector once again, KTM presented a refined enduro line-up as well as an updated motocross range evolved directly from elite level racer feedback.

26 M O T O R S P O R T READY TO RACE is KTM’s motto and mantra. It defines KTM’s passion for innovation through competition and the desire to win. This company-wide philosophy has been prevalent in almost seventy years of its history, as the company strives to make the most rewarding motorcycling experiences for customers, riders, and race fans. the second time with the KTM 450 SX-F as Cairoli ended a phenomenal eighteen-year career with the distinction of winning at least one race every single season. Prado, in MXGP, and 2020 MX2 World Champion Tom Vialle dwarfed the field in terms of holeshots with Vialle setting a new personal record of 22 from 30 Motos with his KTM 250 SX-F. Through enduro, motocross, rally, road racing and supercross, KTM has amassed no less than 327 FIM World Championships to-date and has increased its prolificacy in the last ten years thanks to six core principles: leadership, the best staff in the right positions, optimum innovation & performance-technology for the track, key technical as- sociations, collective belief & character, and investment in athletes. KTM race teams are driven by the thirst for glory and a hunger for excellence, frequently supported by partners with corresponding ambi- tions like Red Bull, WP Suspension, Pankl, Motorex and Akrapovič. This passion has established the company as one of the most proactive and unbeatable motorcycle sport brands in the world today. MOTOCROSS The initial bright shoots of KTM’s competitive glory lie in motocross. Russian Gennadij Moiseev was the company’s first world champion while Heinz Kinigadner’s two titles in the 1980s contributed an impor- tant racing chapter for the firm. KTM’s first American champion was Trampas Parker. By the time Shayne King and Joel Smets were adding regular trophies to the cupboard at Mattighofen during the turn of the century, KTM were already cemented as a major player in the FIM Motocross World Championship, AMA Motocross and various national series around the globe. In the last two decades, KTM have coated FIM Grand Prix in orange. They claimed victory in the inaugural year of the MX2 class in 2004 with the KTM 250 SX-F and have won every season except for 2005-2007, 2015 and 2021 thanks to nine riders. When Tony Cairoli joined the Red Bull KTM Factory Racing team in 2010 he would bring the premier class crown – MXGP – to the factory for the first time. The legendary Sicilian managed to triumph with both the KTM 350 SX-F and the KTM 450 SX-F. Cairoli, teammate Jeffrey Herlings and starlet Jorge Prado have continued to build a legacy for KTM at the sharp end of FIM MXGP World Championship competition. Cairoli and Herlings dominated the 2018 MXGP term, allowing only one Grand Prix to escape their grasp from 20 rounds, while the graduation of Prado in 2020 meant that Red Bull KTM were the only team in MXGP to celebrate Grand Prix victory with all of their athletes. This was a feat they repeated across both MXGP and MX2 in 2021 with all six racers climbing the top step of the podium at one stage during the campaign. MXGP was tremendously close and was finally owned by Herlings for SUPERCROSS KTM reorganized their efforts in the AMA Supercross at the beginning of the decade with the decision to create a structure at Murrieta in southern California – spearheaded by icon Roger de Coster. Ryan Dun- gey delivered KTM’s first 450 Supercross victory in Phoenix, Arizona in 2012 and would rule the division for three years as the KTM 450 SX-F became a class-leading motorcycle. The team would fight for the crown with Marvin Musquin and then witness Cooper Webb clinch the title in his first season with KTM in 2019. Webb pushed hard to defend his number one plate in the ‘interrupted’ 2020 series and classified a close second but then elevated his performance once more to scoop title #2 in 2021. ENDURO | OFFROAD | RALLY Other spoils have followed suit in the worlds of enduro, offroad and rally; names like Blazusiak, Coma, Cervantes, Despres, Garcia, Knight, Lettenbichler, Price, Salminen, Sunderland, Walker, Walkner and many more have not only made an impact on the results sheets but also the development arch of Austrian machinery to remain at the top of the disciplines. KTM’s speed and reliability in arguably the hardest offroad race of them all – the Dakar Rally – led to a record 18 consecutive vic- tories between 2001 and 2019 thanks to eight different individuals. In a complicated year for competition in 2020, KTM still enjoyed success. In 2021, Red Bull KTM Factory Racing’s Manuel Lettenbichler sealed a third consecutive victory at the notoriously difficult Red Bull Romaniacs Hard Enduro and tussled for the FIM Hard Enduro World Championship until the last round. Teammate Josep Garcia seized the FIM Enduro2 World Championship in a return to EWC action, and was runner-up in the EnduroGP category aboard the KTM 350 EXC-F. Also in 2021, the Dakar rally was back in the Middle East for the second time in a row and attacked by Red Bull KTM Factory Racing’s three rider line-up of Toby Price, Sam Sunderland and Matthias Walkner. Sunderland made the final podium. Walkner was able to shine on the KTM 450 RALLY later in the season by winning the FIM Cross-Country Rallies World Championship.

28 Husqvarna Motorcycles Norden 901, MY22 © Husqvarna Motorcycles/Sebas Romero

30 TOP-CLASS, INNOVATIVE PRODUCT RANGE Husqvarna Motorcycles remains committed to fulfilling a progressive vision of street motorcycling. From returning to the street segment with the 701 Supermoto and 701 Enduro in 2015 to the introduction and sub- sequent expansion of the exciting Vitpilen and Svartpilen family, more recently Husqvarna Motorcycles has now expanded the thrilling street line-up with the Norden 901, a unique travel motorcycle that features a twin-cylinder engine, advanced rider ergonomics and high performance based on years of rally experience, in a distinct modern design. The logo of premium Italian casual clothing brand REPLAY has been proudly displayed on Husqvarna Motorcycles’ official Moto3™ machines since 2020. In 2021, the collaboration inspired a limited edition of 10 machines with exclusive components and Husqvarna Motorcycles with REPLAY branding. The strictly one-off run featured the Vitpilen 701, 701 Supermoto and 701 Enduro LR. A new casual clothing collection also resulted from the alliance. ELECTRIC MOBILITY The explicit focus on product development is a consequence of the clear commitment to establish the Husqvarna Motorcycles brand across the world as a feisty and serious manufacturer in the road motorcycle seg- ment. The brand strategy has been refined to better focus on street-ori- ented customers, considering its potentially huge sales prospects. At the same time, the commitment and the presence of the brand in the offroad sector is consolidated and strengthened by further innovations, such as 2-stroke fuel injection technology and advanced connectivity features that allow riders to manage incoming calls, music and turn-by-turn navigation on the Norden 901 or tailor the performance of their motocross motorcy- cles according to their riding skills and track conditions. In 2021, the company also presented the E-Pilen E-Motorcycle Concept and a Stand-up Scooter Concept in the field of electromobility. These three eco-friendly offerings bring the future of personal urban transport into the present. The brand already has electric motorcycle experience in the offroad segment with the Husqvarna EE 5 mini mo- tocrosser, an early expression of the brand’s commitment to deliver ground-breaking technology and performance to the world of motorcy- cling. To attract and encourage the two-wheel riders of tomorrow at the earliest possible age, Husqvarna Motorcycles also developed the Husqvar- na Replica 12eDrive and 16eDrive electric balance bikes. These offer chil- dren their first taste of two-wheeled fun and freedom, while encouraging the development of essential riding skills. Extreme adventurer, Mike Horn and five-times Dakar Rally winner, Cyril Despres took on a life-changing journey through awe-inspiring Iceland and extensively tested Norden 901 prototypes in the challenging land- scape. Development of the E-mobility range is well-advanced, and Husqvarna Motorcycles’ electric urban mobility offerings will demonstrate the same progressive design values that have seen the brand set benchmarks for quality, aesthetics and performance for more than a century. In another high-profile partnership, Husqvarna Motorcycles ambassador and former world champion slalom and giant slalom skier, Marcel Hirscher is getting straight down to business by riding various Husqvarna machines and competing in various competitions such as the demanding Romaniacs Hard Enduro Rallye. Extensive R&D and design efforts will be concentrated in developing urban e-mobility solutions for the near future, stimulating the imagination of the global community, and offering a tantalising insight into the dy- namic future activities of a brand that is constantly at the forefront of innovation. SMART PROGRESSIVE DYNAMIC PURE DESIGN Stand-up Scooter Concept © Husqvarna Motorcycles

32 M O T O R S P O R T Motorsport is an integral part of Husqvarna Motorcycles 118-year history and a driving factor in the continued development of its class-leading production motorcycles. Husqvarna Motorcycles remain resolute about achieving success at the highest levels of two-wheeled motorsport. FACTORY RACING Having introduced the global Rockstar Energy Husqvarna Factory Racing team in 2015, Husqvarna Motorcycles further solidified its position as a dominant force in all offroad racing activities in 2021. Continuing to establish itself as a dominant force, Husqvarna Motorcycles has secured multiple championship titles in 2021, and, at the hands of the brand’s elite racers across the globe, en- joyed several race wins and podium results in all disciplines. ENDURO | OFFROAD | RALLY Following an intense, season-long battle for supremacy, Billy Bolt emerged victorious in the inaugural FIM Hard Enduro World Championship. With two wins during the season, Bolt was in im- peccable form aboard his TE 300i with a crucial runner-up finish at the final round securing the Brit’s third world title. His Rockstar Energy Husqvarna Factory Racing teammate, Alfredo Gomez, also impressed in 2021 with the Spaniard securing a memorable home win at the Hixpania Hard Enduro on his way to claiming sixth in the series standings. Continuing to build his legacy as one of the world’s most celebrated offroad riders, Colton Haaker claimed his fifth AMA EnduroCross title in 2021 – his fifth championship victory achieved together with Husqvarna Motorcycles. American rally racer Skyler Howes joined Husqvarna Motorcycles for the 2021 FIM Cross-Country Rallies World Championship and secured a highly impressive second overall at the Silk Way Rally in July. With multiple stage wins throughout the season at a variety of events, it marked an impressive first season for Howes on the world stage and a sample of what´s to come for Dakar Rally 2022. MOTOCROSS | SUPERCROSS The 2021 MX2 World Championship once again saw Jed Bea- ton continue to establish himself as one of the best and most consistent racers in the division with the Australian ultimately placing fifth overall in the final standings. Joining Jed in MX2 and making a highly successful transition into the class after a strong EMX250 campaign in 2020, Kay de Wolf’s rookie season was highlighted by a moto win at the MXGP of Belgium along with his five overall podium finishes. Progressing to the hotly contested MXGP class after three rewarding seasons in MX2 with Husqvarna Motorcycles, Thomas Kjer Olsen enjoyed a strong debut season to secure ninth place in the championship. Following a strong end to the 2020 campaign where Zach Osborne, Jason Anderson, and Dean Wilson swept the podium at the final round, the 2021 AMA 450SX Championship brought a challenging season of racing for Rockstar Energy Husqvarna Factory Racing. With all three riders suffering from injury during the year, the series was highlighted by Jason’s two podium results while Zach claimed third place at round seven. In the 250SX West division, both Jalek Swoll and supercross rookie Stilez Robertson secured the very first podium finishes of their young careers aboard their FC 250 machines. The 2021 Pro Motocross season was marked by the rise to the occasion of our 250MX Class Riders. Swoll would enjoy further success by racing to his maiden 250MX class overall victory at round three, with RJ Hampshire claiming first overall at the Red- Bud National on his way to placing fourth in the 250MX series standings. ROAD RACING Boosted by an incredible display of riding and victory at round 12 of the FIM Moto3™ World Championship, Romano Fenati en- joyed a positive season to secure fifth in the final championship standings for the Sterilgarda Max Racing Team. With the team leadership of Max Biaggi and Team Manager Peter Öttl, the team will overhaul their line-up for 2022 and welcome the sharp pace and potential of Ayumu Sasaki as well as the Grand Prix winning experience of John McPhee.

34 PERFORMANCE OFFROAD MOTORCYCLES THAT PUT THE FUN BACK INTO RIDING Known globally for having a long and rich history in both trial and enduro sport, GASGAS is an offroad motorcycle manufacturer moving forward at a rapid pace. Securing multiple FIM trial and enduro titles since 1985, the brand thrives on passion, with the goal of putting the fun back into riding. Acquired and reinvigor- ated by PIERER Mobility AG in July 2020, GASGAS quickly capi- talized on the group’s proven technical platforms to successfully launch 23 high performance offroad models across the trial, enduro, and motocross segments for model year 2021. Through- out 2021, GASGAS continued to build momentum in the offroad world – securing three world titles in trial and enduro. Further successes were achieved in motocross and rally, underlining the brand’s expertise across all offroad disciplines. For 2022, the offroad dirt bike range expands to 29 models – the largest ever for GASGAS, appropriately reflecting the brand’s ambition, and confidence. saw GASGAS travel across Europe with a full model range, providing an immersive brand experience to specialist media and competition winners. With a number of GASGAS brand ambassadors in attendance, showcasing their skills at each event, the United in Dirt tour proved to be a massive hit with both the press and the public. Also in 2021, GASGAS entered the exciting world of e-powered motorsports. In what was a monumental step for GASGAS, the brand played a significant role in the creation of the European Junior e-Motocross Championship. Taking place alongside five rounds of the 2021 MXGP World Championship, the series gave MC-E 5 racers the chance to compete at the same events as their racing heroes and proved to be incredibly popular. So popular in fact that GASGAS has committed to supporting the championship in 2022. A PROUD SPANISH HERITAGE A COMPREHENSIVE OFFROAD MODEL LINE-UP Embracing its Spanish heritage, GASGAS has a pronounced, daring and expressive character – always compelled to share its passion for all things two wheels. GASGAS’ positive attitude, charisma and thirst for fun can be seen in its comprehensive product line-up – a range of bikes that ensure thrill seekers from around the world get the utmost enjoyment, without any fuss. Being incredibly passionate about its trial roots, the development of GASGAS’ all-new facility is in Catalunya, Spain – housing R&D, production, as well as the GASGAS Factory Racing trial team. OFFROAD SPECIALISTS WITH FRESH ENERGY GASGAS actively encourages riders to unite in the dirt and join in on the fun! The ‘enabler’ brand within PIERER Mobility AG with bikes in all sizes, for riders of all abilities, GASGAS’ comprehensive range includes trial, enduro, motocross, and e-bikes – all of which delivers proven performance and serious offroad capabilities. In 2021, GASGAS launched the United in Dirt tour with the mission of ensuring industry players and consumers truly comprehend the GASGAS spirit and edge. The exclusive tour GASGAS is positioned very differently compared to PIERER Mobility AG’s KTM and Husqvarna Motorcycles. Utilizing the group’s shared-platform technology, GASGAS dirt bikes combine proven performance with no-nonsense simplicity. Each bike across its trial, enduro, cross country, and motocross line-ups are completed with distinct signature styling. For 2022, four new models have been added to bridge the gaps within its existing range. There’s now a big wheel MC 85 for junior racers, with an MC 250, MC 350F, and an EX 250 for adults. Along with GASGAS’ electric balance bikes that allow kids as young as three years old to safely begin a lifetime of fun on two wheels - riders of all ages and abilities can now find the perfect bike from GASGAS compre- hensive’ line-up. In commemoration of both the brand’s success- ful racing season debut in the USA in 2021, and the continued collaboration with Troy Lee Designs/Red Bull/GASGAS Factory Racing – GASGAS’ first ever limited edition model, the MC 450F Troy Lee Designs, is available in dealerships since January 2022.

36 MOTORSPORT FACTORY RACING ROAD RACING If GASGAS went big in 2020 – enjoying successful results in MXGP and TrialGP, along with solid finishes in many international enduro events – in 2021 GASGAS went colossal! Solidifying its position as a dominant force in all offroad racing activities, GASGAS secured six world titles, and enjoyed many impressive race wins and podium results, across six disciplines, with 20 factory riders. MOTOCROSS | SUPERCROSS GASGAS’ first season of AMA Supercross in the United States is done and dusted. Riding under the Troy Lee Designs/Red Bull/ GASGAS Factory Racing banner, the GASGAS team won several races, with stand-out performances by Justin Barcia who spear- headed GASGAS’ efforts with his three-peat Anaheim 1 victory, and a very special third-place podium result at round eight that contributed to the first ever KTM AG Group podium. The Troy Lee Designs/Red Bull/GASGAS Factory Racing also had plenty to celebrate in its first year of AMA Pro Motocross racing on American soil. With the line-up of Justin Barcia in the 450MX class, as well as Michael Mosiman and Pierce Brown competing in the 250MX category, the newly bonded team experienced it all in 2021. From the highs of first-time wins, through the tough breaks of injury – the guys were on the gas the whole season. The 2021 MXGP season delivered a rollercoaster of emotions for GASGAS, with plenty of highlights such as podium results and race holeshots, not least Pauls Jonass’ third overall at the infamously tough Grand Prix at Lommel in Belgium. The year also brought tougher times with a number of crashes and injuries, but in true GASGAS style, its riders bounced back to put in great performances throughout the year. Now, looking ahead to 2022, GASGAS is planning to come back stronger than ever before. In 2021 GASGAS took a giant step forward, taking on road racing for the first time ever. With the highly reputable Aspar Team fielding two young Spanish racers in Moto3™ – a union that created a strong Spanish connection to the roots of the brand – team rider Sergio Garcia ended GASGAS’ first season in a fine third place. GASGAS Aspar Team recorded an excellent second overall in the Teams’ Championship, and third in the Constructors’ World Championship classifications following an exciting debut season featuring seven podiums and four wins. And if that wasn’t enough, GASGAS lifted the FIM Moto3™ Junior World Championship in Valencia, wrapping a memorable first season in the road racing world championship action with Dani Holgado mastering the fiercely competitive FIM Moto3™ Junior series. ENDURO | OFFROAD | RALLY GASGAS’ headline results undoubtedly came from the FIM EnduroGP World Championship in 2021 with Italian Andrea Verona dominating the Enduro1 class while offroad legend Laia Sanz wrapped up the FIM EnduroGP Women World Championship in dramatic fashion. On top of this, Andrea Verona claimed the Enduro1 class victory at the 95th ISDE and led Italy to the World Trophy win on home soil. In Rally, Daniel Sanders flew the flag for GASGAS in the FIM Cross-Country Rallies World Championship, honing his skills on his RC 450F as he competed in his first full year in the series. Day wins at the Silk Way Rally, the Rallye du Maroc, and the Abu Dhabi Desert Challenge secured his 2021 FIM bronze medal. Going into his second Dakar Rally next January, Chucky is all fired up.

38 PERFORMANCE & INNOVATION FOR PREMIUM SUSPENSION COMPONENTS SUCCESSES IN MOTORSPORTS Thanks to tireless development work and high-quality standards, WP Suspension has clearly established itself as a successful brand in off-oad motorsport, and hardly any race series is dominated without the participation and support of WP Suspension. Several titles won with WP components, such as Jeffrey Herlings world championship title in the FIM MXGP 2021 or Courtney Duncan‘s taking her third world championship title with Kawasaki in the FIM WMXGP 2021, are testament to the technical superiority in motorsport. With the support of WP Suspension, Billy Bolt became the world champion in the Hard World Enduro category in enduro. Manuel Lettenbichler followed him in the overall classification, taking home the silver medal. Later, Spanish enduro rider Josep Garcia took the world title in the FIM ENDURO2 category; the young rider already has two world titles to his name. And finally, Italian rider Andrea Verona, who already had three en- duro world titles under his belt, added a fourth title, proclaim- ing himself FIM Enduro1 2021 World Champion. Since their entry into the 2012 MotoGP™, riders in the road segment have also been able to write their own success story with WP Suspension products. KTM Red Bull Factory Racing Team riders Miguel Oliveira and Brad Binder have been on the podium several times, with young Pedro Acosta becoming world champion in the Moto3TM class. Our results in all the elite categories in the world of motorsports are proof of our hard work to bring our advances, quality and performance to those riders who want to go one step further than the rest. Whether on the motocross track, on the street or in the mountains, our WP PRO COMPONENTS will make the difference. WP Suspension GmbH is one of the world‘s leading manufac- turers of premium suspension components in the powered two-wheeler and sports car sector. Due to the closeness to motorsports and the influence of the feedback of some of the best professional athletes, WP Suspension presents itself as a constantly growing and innovation-driving force behind numerous successful series in professional and amateur motorsports. The WP Suspension brand, with its worldwide recognition as a sector specialist with its strong development potential, relies on the close networking within the group. This enables to benefit from a wide range of synergies in recent years and to significantly increase its efficiency in the last financial year. Through the intensified and sustainable expansion of the basis of the globally active company, WP Suspension has been able to secure a pioneering position in the market and, by means of innovative product development, stabilize this position. INNOVATIVE PRODUCT DEVELOPMENT Motorsport in all its facets is characterized by rapid change. Through direct contact with numerous successful teams in motorsport, WP Suspension is able to incorporate the latest experiences from the racetrack into product development and to address the fast-moving demands with innovative ideas. Due to intensive efforts in research and development, WP Suspension dominates in a highly competitive market. With the introduction of the WP XPLOR PRO 6500 and WP XACT PRO 6500 cartridges in 2021, the foundation was laid to give newcomers in the world of top performance a tool to take their personal improvement into their own hands. The expansion of the product portfolio to include products for Kawasaki motorsport bikes is emblematic for opening the well-known and proven WP Technology to the entire motorsport community. For the fiscal year 2022 the course has been set. WP Sus- pension will maintain its global pioneering position and significantly strengthen resources for the development of the latest technologies. This ensures that the brand will live up to its claim PERFORMANCE&INNOVATION in both the Offroad and Street sectors and will support professional racers as well as hobby-motorcyclists worldwide with premium suspension systems.

40 © KTM

42 STREET SEGMENT One of the most important projects of last year for the street model platforms was the industrialization of KTM’s spearhead in the street model portfolio – the 1290 SUPER ADVENTURE R and S models as well as the 1290 SUPER DUKE RR hyper-naked bike. Now, for the first time, the 2021 generation KTM 1290 SUPER ADVENTURE S/R comes with a standard, innovative adaptive cruise control. It was developed thanks to intensive research side-by-side with Bosch. It automatically maintains an appropriate distance to other road users in front of the motorcycle using radar sensors and can be set at five levels via the redesigned combination switch. Further highlights include the series production of the KTM RC generation in the Supersport segment, the series ramp-up of the Husqvarna Norden 901 and the ramp-up of the KTM 1290 SUPER DUKE R and KTM 1290 SUPER DUKE GT models, which incorporate extensive updates. The starting point was the KTM 890 DUKE model derivative, based on the successful two-cylinder mid-class platform, which were able to make their series launch before the start of the motorcycle season in February. Both vehicles are further developed variants of pre- vious KTM 790 DUKE and 890 DUKE R models, on which the developers made significant progress, particularly on the mechanics and perfor- mance but also on the emissions profile. Starting in June, the completed series ramp-up of the KTM RC models in the Supersport segment from 125 cm³ to 390 cm³ set a key milestone in the last financial year. After an intensive test and trial phase – one that presented additional challenges for the entire project team due to the far-reaching effects of the COVID pandemic – we presented the fully re- vised model range to the international specialist press. Despite circum- stances which made planning difficult this year, we finished strong with the successful launch of the reworked KTM 1290 SUPER DUKE R EVO and KTM 1290 SUPER DUKE GT models in the premium segment in Decem- ber. While the KTM 1290 SUPER DUKE R EVO stands out in particular for its redeveloped semi-active WP APEX suspension, the KTM 1290 SUPER DUKE GT package was improved, not just by the reworked chas- sis and other details, but by the HMI interface (dashboard, combination switch) already familiar from the KTM 1290 SUPER ADVENTURE. With a prototype of a motorcycle in the mid-class Travel segment called “Norden”, Husqvarna Motorcycles created quite a stir in 2019 at the EICMA, the most important trade fair in the motorcycle seg- ment. In November 2021, exactly two years after its presentation, the series ramp-up of this much anticipated model was launched. With its foundation rooted in the ingenious building blocks of the KTM 890 ADVENTURE/KTM 890 ADVENTURE R models, this model distinguishes itself significantly from its sisters in the group with its unique design, a reworked chassis and a range of other brand-typical detailed solutions. OFFROAD SEGMENT The success story of our group brands is grounded in numerous impres- sive victories in offroad motorsports, which provide us with just that much more inspiration in our tireless efforts to further develop our of- froad competition models. The high points of the previous research year therefore included the development and start of the transition to series production of our new KTM SX/SX-F and Husqvarna Motorcycles TC/FC Motocross model range in the full-size offroad segment. And because KTM’s brand motto is “READY TO RACE”, not only were the prototypes of these bikes successfully subjected to comprehensive prototype tests but, due to our commitment to global motorsports, they were also put up against the toughest conditions. The most recent generation of models from our full-size off-road platform is the result of a complex platform strategy, the primary objective of which is to optimize the per- formance of all built-in components and at the same time ensure a high degree of efficiency.

44 RESEARCH AND DEVELOPMENT IN THE FIELD OF ELECTRIC MOBILITY As a pioneer in the field of electric mobility, PIERER Mobility AG has demonstrated extensive expertise in the area since 2014. It already offers fully electric powered vehicles across the spectrum of all group brands, such as the internationally successful KTM Freeride-E, the E-Mini and E-Bicycle products. Our in-house center of expertise in Anif near Salzburg is fully dedicated to further development in the area of electric mobility. In order to meet the growing demand for innovative e-mobility concepts and to achieve economies of scale regarding crit- ical components, PIERER Mobility AG and its business partner Bajaj Auto Limited have also increased their cooperation mainly in their joint development of electrical drive platforms. This enables both companies to quickly and effectively adapt to ever-changing customer needs. Part of this strategy is an open approach to different battery solutions that take advantage of both integrated and removable batteries. The 2021 research year included a series of R&D projects in the field of purely electric powered vehicle concepts. While a large part of the basic and technological research, such as the development and testing of new energy accumulators and drive systems, is being carried out behind closed doors, a number of new vehicle concepts were presented to the public last year for the first time: The Husqvarna E-Pilen concept is inspired by the design of the successful Husqvarna Vitpilen and Svartpilen models and the brand gives a tantalizing vision of what its future move into electric urban mobility will look like. It offers a well-rounded riding experience that appeals to new and experienced riders equally. With an output of 8 kW and a range of 100 kilometers, the vehicle was primarily developed for commuters and leisure riders. The Stand-Up Scooter Concept, also presented in 2021, can be folded up and carried easily into buildings or onto public transport. Riders stand upright as they glide on the noise- less and emission-free vehicle, reaching their destination in busy urban traffic in no time. Drivers stand upright as they glide on the noiseless and emission-free concept vehicle, reaching their destination in busy urban traffic in no time. The Stand-Up Scooter Concept will offer a range of 40 km and with the power output of 0.5 kW it will deliver a top speed of 20 km/h. A further milestone in the previous research year was the strategic cooperation between PIERER Mobility AG and the battery manufacturer VARTA. The mission of this cooperation is to use highly efficient battery systems in the electric two-wheel sector to send a strong signal both within and outside of Europe. VARTA AG is the leading European manu- facturer of Li-ion cells and a global leader in innovation and technology. The cooperation partners see great potential for the development of a platform battery for lightweight electric vehicles in the 48 volt range with peak performances of up to approx. 20 kW. The main focus of the cooperation is the development and industrialization of low-volt- age battery platforms for long-range, high-performance vehicles with a peak power of 250 watts to 20 kilowatts. In particular, the partners are looking to cooperate in the areas of research, development and produc- tion, joint marketing and sales activities, as well as return of vehicles, recycling and second life strategies for battery storage systems. In addition, KTM AG formed a consortium for motorcycles with ex- changeable batteries with Honda Motor, the Piaggio Group and Yama- ha Motor. The aim of the consortium is to develop solutions to address customers’ concerns regarding the future of electric mobility, such as range, charging time and infrastructure as well as costs. This is to be achieved while adhering to four main objectives: (a) development of common technical specifications for interchangeable battery systems; (b) confirmation of the joint use of battery systems; (c) promotion of the common specifications of the consortium in European and international standardization committees as well as their adoption as a standard; (d) worldwide application of the common specifications of the consortium. Signing this consortium contract is an important step in ensuring that PIERER Mobility AG can further advance its clear strategic vision for electric powered two-wheelers (PTW) and implement innovations quick- ly. Work is being carried out together with the consortium partners to develop an exchangeable battery system for low-voltage vehicles (48 V) with up to 11 kW of power, which is based on international technical standards. RESEARCH ON TECHNOLOGIES TO REDUCE CO₂ EMISSIONS FOR COMBUSTION ENGINES In parallel to the initiatives mentioned above in the area of electric mobility, the PIERER Mobility Group is also working on technologies for further reducing the emissions profiles of motorcycles equipped with combustion engines. The development strategy of the PIERER Mobility Group in the area of combustion engines development has a clear target of reducing consumption and emissions. This includes R&D activities which address the further development of the thermodynamic system (electronic fuel injection, combustion) as well as exhaust aftertreat- ment systems (catalytic converters). Furthermore, approaches to using CO2-free or CO2-neutral fuels, which can be obtained from, among other things, the CO2 in the atmosphere, are being studied. All engines in the displacement category over 500 cm3 are already qualified for operation with synthetic fuels (e-fuels) – other engine platforms can be changed within short response times. With the particularly technology-driven racing series MotoGP™ and Moto3™, the use of blended fuels (40% consisting of non-fossil fuels) will also be tested beginning in the 2024 season. It currently looks like the premier class of the Motorcycle World Championship is planning to completely switch to synthetic fuels start- ing in the 2027 season.

46 T O G E T H E R W E A RE S H A P I N G T H E F U T U RE O N T W O W H E E L S P I E RE R I N N O VAT I O N I S S H A P I N G T H E D I G I TA L I N N O VAT I O N & T R A N S F O R M AT I O N O F T H E T W O - W H E E L M A R K E T I N A M E A N I N G F U L A N D S U S TA I N A B L E W AY Digitalization is about more than the ongoing use new technologies to increase efficiency in our companies. The digital world is constantly providing new opportunities and potential. Today most innovations are based on digital developments. Software dominates our world. This has resulted in unprecedented success for Big Tech companies, whose market capitalization is larger than that of many stock indices. for user experience design, software development, data science and new digital technologies and are shaping the digital future of Pierer Mobility AG. Scouting specialists work on a continuous exchange of technology and trend analyses to evaluate social and cultural changes and derive possible use and business cases. In this way, they are laying the foundation for the development of new concepts. Many new technological developments have accelerated processes of change in product development, commerce and process optimization. These include connectivity and artificial intelligence (AI) in addition to the many new software technologies in general. Connectivity is a topic for everyone, and not just in the smart home. Consumer goods and vehicles are also becoming increasingly interconnected. Today‘s innovation landscape therefore extends way beyond considering just the product. Increasingly, customer experiences and services need to be considered in the development. This requires greater transparency and the direct involvement of our dealers and customers in the processes. Pierer Innovation’s Business Modeling Unit also aims to create added value from existing and new data sources and to design new products and services. This is where the Smart Commerce Stream comes in. It aims to take both the customer experience at every digital touchpoint and the motorcycling experience to a new level. This guarantees a stable and powerful innovation pipeline. The vision is to develop strong technology portfolios that demonstrate the innovation potential across the entire customer journey (online and onsite at the dealer) with targeted communi- cation and services. DATA AS AN OPPORTUNITY In order to meet precisely this challenge, Pierer Innovation GmbH was founded and a number of digital companies such as Avocodo GmbH, DC Digital GmbH, etc. were acquired. Pierer Innovation, with its now 50-plus-strong team, is addressing precisely this issue – and taking the digitalization drive to a new level. Together, Pierer Innovation GmbH with Avocodo GmbH and DC digital GmbH represent the competence center Software platforms are the invisible machines that have created, influenced or transformed nearly every major branch of industry over the last quarter of a century. They make cell phones, car navigation devices, search engines and web portals work. They create a huge benefit for the customer and are driving changes that will dwarf all previous technical and business developments.

48 KTM 390 ADVENTURE MY22 © francescmonterophoto

50 P I E RE R E- BI K E S CH A RG E D U P FO R 202 2 2021 was a monumental year for PIERER E-Bikes. Unwaivered from its mission to define and shape the next leap in electric-powered two-wheel mobility – the company continued to make strides in modernizing and strategically linking expertise and technology advancements acquired across its bicycle brands. In terms of ex- pansion, PIERER E-Bikes experienced exponential growth in sales, segment share, product portfolio and innovation while making progress in supplier relations – all amidst a global pandemic. As of July 31st 2021, PIERER E-Bikes GmbH finalized the integration of all of its subsidiaries – ultimately streamlining all processes, dealer contracts, SAP via the all-new DealerNet; a one-stop hub for all dealer-related requests, communications and tasks. The imple- mentation came at an appropriate time as demand for e-bicycles surged, boosted by the pandemic’s effect on society’s perception towards mobility and changes in recreational behavior – all leading towards to a higher appreciation for e-bicycles. In contrast, the pandemic continued to dampen the speed and delivery of the sup- ply chain, which led to a shortage in products. Even then, PIERER E-Bikes sold over 100,000 units of bikes in 2021, a 40% increase from 2020. The positive uptake can be attributed to a few new key progresses made; GASGAS Bicycles being distributed exclusively by GAS- GAS motorcycle dealers; and Husqvarna E-Bicycles marking its presence in North America. Whilst most of PIERER E-Bikes’ focus in 2021 was in the EU, the process of internationalization will continue in 2022/23 with UK and Australia being the company’s next new priority markets. As of October 2021, PIERER E-Bikes has a total of 1,028 Independent Bicycle Dealers and 294 Motorcycle Dealers across Europe and North America. More key strategic moves were made in 2021 to fuel PIERER E-Bikes’ momentum and trajectory. In November, PIERER E-Bikes successfully acquired US-based FELT Bicycles. FELT Bicycles has an established reputation for producing high-performance, drop- bar road, triathlon, track, cyclocross, gravel, and adventure bikes. The brand has also pioneered carbon fiber usage in bike design, set new standards in mountain bike suspension systems, and rev- olutionized aerodynamic development in the pursuit of the ultimate racing equipment. To top it off, FELT bikes have been ridden to stage wins at Grand Tours, earned record-breaking triathlon world titles, Olympic gold medals, and world championships on various terrain. By having FELT in its portfolio, PIERER E-Bikes is not only making strong headways in North America, but has now gained access to insights and expertise from FELT’s 30-year experience and R&D. As a step to address the stunted status of global supply chains and to bring manufacturing back to Europe, PIERER Mobility AG formed a joint venture with Maxcom Ltd. for e-bicycle production in Bulgaria with the goal of expanding the company’s bicycle and e-bicycle production capacity in Europe. Maxcom Ltd. is one of the largest bicycle manufacturers in Eastern Europe and is an existing supplier of PIERER E-Bikes, mainly for R Raymon and Husqvarna E-Bicycles. As part of the joint venture, a state-of-the-art e-bicy- cle production facility is being built on an area of 130,000 m². HUSQVARNA E-BICYCLES Conceived to introduce new possibilities and experiences within E-Mobility – Husqvarna E-Bicycles has set innovation as its status quo. In line with the brand’s motivation to evolve and advance the segment towards becoming the future-forward bike company of the world, the brand expanded its reach to two new promising markets in 2021 – Spain and North America. In addition, Husqvarna E-Bi- cycles launched its new website in February with improved user interface and aligning its web experience with Husqvarna Motorcy- cles. The enhancement of user experience was also extended with the launch of the Ride Husqvarna Bicycle app – enabling riders to track their performance in real-time; ultimately giving riders the data and insights they need to zone-in and improve their skills and excursions. On the media front, Husqvarna E-Bicycles radically amplified its visibility and reputation. The brand’s newly forged partnership with Electric Mountain Bike Network (EMBN) as the official bike partner resulted in the creation of over 20 new videos that helped accumu- lated 500,000 views online within 5 months. Husqvarna E-Bicycles’ inaugural entry to EWS-E in the Enduro World Series putting Husqvarna E-Bicycles within the immediate radar of serious, high potential audience. What took the cake in 2021, were the different initiatives the brand made to preview its vision of the future, starting with the Husqvarna Model Year 2022 fleet. Boasting new offroad models with new signature frame designs and engineering advancements – the fleet’s offering was encapsulated and manifested in the

52 K T M T ECH N O LO G I E S H I G H - E N D E N G I N E E RI N G A N D CU T T I N G - E D G E T ECH - N O LO GY FO R T O M O RRO W ‘ S P RO DU C T S True to the motto “DRIVEN BY THE NEW”, KTM TECHNOLOGIES GMBH in Anif near Salzburg develops inspiring vehicle concepts and innovative lightweight design solutions. the activities across different industries, the customers also benefit from broad know-how and the possibilities of technology transfer. SPECIALISTS IN THE DEVELOPMENT OF E-VEHICLES KTM TECHNOLOGIES GMBH was established in 2007 when a small group of engineers with a keen interest in motorsport transformed the vision of the X-BOW super sports car into series production at KTM. The X-BOW with its lightweight carbon fiber chassis was way ahead of its time and is considered a milestone in KTM‘s history. Since this project, the experienced team has proven itself as PIERER Mobility AG’s strategic development service provider in many exciting and challenging projects. In 2010, for example, they played a key role in the development of the “XL1” - Volkswagen‘s with their expertise in lightweight construction. This also heralded the start of electric mobility, which continued in 2012 with the development of the AUDI e-bike “Wörthersee” and in the years that followed with many more mobility projects. Highly qualified employees are the basis for satisfied customers and for ensuring the company‘s continuous success. As early as 2014, KTM AG launched the “Freeride-E” electric motor- cycle, its first purely electrically powered production bike. The trend toward sustainable and low-emission drives has now accelerated, not least thanks to continuous technological advances, especially in the area of battery storage technology. In line with this trend, KTM TECHNOLOGIES GMBH has also worked very hard in recent years on many e-mobility projects and built up know-how, resources, and infrastructure in this area. For this purpose, the site in Salzburg has been expanded to create a development center. This has resulted in offices, workshops and state-of-the-art test benches over 7,780 m² of floor space which can be used by the companies belonging to the Pierer Mobility Group. As a service provider, the company also continues to work with third-party customers on strategically meaningful projects, thereby gaining valuable expertise that extends beyond the two-wheeler sector. The group of partners and customers includes automotive OEMs and suppliers as well as companies from other industries, such as mechanical engineering, aviation and electronics. Thanks to The challenges in developing successful electric vehicles are complex and multifaceted. KTM TECHNOLOGIES GMBH has many years of experience in vehicle architecture and holistic development methods for designing vehicles that have low costs and offer a great benefit to the customer. It has a range of skills in the core areas of component and whole vehicle development. This applies in particular to requirements management, technology and concept development, simulation, prototype construction, and testing. It conducts research and development work with a strong applica- tion orientation and focuses on products with the highest possible potential marketability. The main focus is on products with low-volt- age drive systems and maximum continuous power of up to 11 kW and peak power of up to around 20 kW. In addition to the existing e-products, work is being done on further e-vehicle models (such as e-motorcycle, e-(stand-up) scooter, light motorcycles licensed for use on the road to various sports vehicles for off-road use). The company works closely with KTM Forschungs und Entwicklungs GmbH and other companies in the PIERER Mobility Group, as well as with external partners and universities. TECHNOLOGICAL CHANGE In the single-track vehicle segment with continuous power of up to approx. 11 kW corresponding to 50-125 cc, the electric powertrain will gradually replace the combustion engine over the coming years. Specifically in urban areas, with moderate speeds and compar- atively short distances, the electric vehicle can demonstrate its advantages: high torque, low noise, largely maintenance-free and environmentally friendly. Also, legal restrictions on internal combus- tion engines in this segment can be expected in the future and this will further accelerate the change. Cost-effectiveness considerations and current production volume scenarios call for the development and application of cross-vehicle

54 E M P LOY E E S A S A S U C CE S S FA C T O R EMPLOYMENT TREND In 2021, around 83.1% of the employees of the PIERER Mobility Group were employed in Austria. The proportion of female employees was around 24.2%. Internal and external measures for increasing the attractiveness of the company as an employer are an essential element in conveying the prevailing spirit of the PIERER Mobility Group to po- tential new employees. Various cross-media employee campaigns enabled the company to largely meet its personnel requirements in the reporting year. As of December 31, 2021, the Group had 5,249 employees worldwide (previous year: 4,586), of which 4,340 were in Austria. RECRUITMENT AND RETENTION OF EMPLOYEES Finding qualified employees and retaining them in the company over a long period of time poses a significant challenge, particularly for rural sites. Every employee in the PIERER Mobility Group forms part of the large team that drives the success of the company with dedication and enthusiasm. Attractive jobs offering exciting challenges and opportunities for training and career progression give employees the chance to demonstrate and expand their skills. Growing by embracing challenges is one of the premises in personnel development. The “Employees Recruit Employees” initiative was also launched in 2021 and symbolizes sustainable recruitment. These recommendations enabled a recruitment rate of 39,7% to be achieved. This means that one in 13 employees in production came via an employee referral. The integration of non-Group companies goes hand in hand with the dynamic growth of the PIERER Mobility Group. In order to meet employee needs efficiently and sustain- ably, the focus was placed specifically on retaining these employees, and integration and organizational development were continuously monitored. In 2021, 209 temporary workers were taken on (concerns employees for the production site in Mattighofen and Munderfing/Austria). In January 2021, a uniform procedure was defined for employees and managers in relation to internal job applications. This is because not only external employees have the opportunity to apply for advertised positions. An application portal exclusively for employees also provides the opportunity to publish positions exclusively for employees. PIERER Mobility AG consciously promotes the internal development of employees. For example, in 2021, about one third of the positions advertised in Austria were filled internally and two thirds of the management positions advertised enabled existing employees to take the next step in their career.

56 EDUCATION AND TRAINING With less education and training being offered in 2020 due to Covid, the PIERER Mobility Group got going again fully in 2021. The number of hours of education and training for employees in Austria was around 124,000 hours (previous year: around 29,000). The average number of hours per employee was 26 hours (previous year: around 7 hours). The costs of ed- ucation and training amounted to around EUR 2,292,000 in the reporting year (including companies in Austria, Germany and Australia). Structured personnel management as well as the constant pursuit of personnel development programs are designed to prevent the unwanted departure of employees from the company. A shortage of skilled workers at KTM is also being addressed with a comprehensive apprentice training program in our own apprentice workshop. In production, a qualification matrix is used to map the employees‘ ability to work. In addition, this matrix is used to continuously determine the employees‘ qualification requirements and to plan further training accordingly. In particular, the PIERER Mobility Group will in future increasingly rely on online training to deliver education and training for its employees. This training is flexible in terms of time and location. Furthermore, we will focus on sharing knowledge internally through experts. This is also the reason why PIERER Mobility has defined its employees as the fourth pillar of its success alongside globalization, innovation and brands in the company, and constantly strives to reinforce this pillar by expanding the education and training it offers. Since personal development is now characterized by huge changes in an age of digitalization, a web-based learning management system (“KTM_academy training portal”) was launched in 2019. This makes the education and training of employees even more attractive, efficient and transparent. In 2021, KTM Technologies GmbH was also connected to the learning management system. Partly due to the Covid-19 pandemic, many courses were successfully digitalized or carried out in hybrid form. This ensured that employees continued to receive education and training even in these turbulent times. In addition to further development of the learning management system, the mobile app for all employees of KTM AG was added to the existing desktop system at the end of 2021. The app gives employees even easier access to education and training opportuni- ties. In the app, digital learning content can be accessed on the go and employees can browse through the training catalog. For managers, this means that managerial functions are also available at any time while traveling, for example on business trips. In addition, access to the KTM_academy training portal has also been extended internationally and is available to a large proportion of employ- ees in the PIERER Mobility Group in German and English. For example, many employees worldwide have the opportunity to participate online in important courses such as “IT Security Awareness”. For 2022, the plan is to expand the offer and also provide dedicated training content for the subsidiaries via the KTM_academy training portal. With the newly created Production Academy in Mattighofen, KTM AG is investing heavily in the education and training of production employees. In the new training center, production employees receive intensive support and training, from onboarding through to technical training. In 2021, more than 100 new employees from leasing companies and from AMS (Public Employment Service Austria) and apprentices have already been trained up for the various KTM production plants. In particular, special informa- tion days were organized with AMS to give interested parties an advance insight into production, possible areas of responsibility and the company. In 2021, the focus was also on increasing employee awareness with regard to IT security awareness. To this end, KTM AG offered an online course for all employees. This is supplemented by face2face training ses- sions to clearly communicate the importance of the topic and the sphere of influence of each individual employee on the company‘s IT security. STEM PROFESSIONS To support women in STEM professions, KTM AG has already implemented several measures (Girl‘s Day, technical apprenticeship) and these are constantly being expanded. Every year, KTM invites interested girls to gain an insight into the company‘s technical training. In addition, the PIERER Mobility Group‘s subsidiaries are seeking joint projects with universities and technical colleges. These range from various research projects and activities in the context of joint student research projects to special academic courses (KTM Intrapreneurship MBA, KTM Young Pioneers College, Delta Academy of Montanuni Leoben) as well as business-sci- ence cooperations (Upper Austria University of Applied Sciences, Wels University of Applied Sciences, HTL Leonding, Software Competence Center Hagenberg). In addition to addressing current issues such as sustainability, these activities also promote a closer working relationship with the training institutions in order to combat the lack of skilled staff and introduce joint measures if necessary.

58 S U S TA I N A BI L I T Y AT T H E CE N T E R As a reliable employer, fair business partner and technology pioneer, we drive the development of sustainable mobility concepts and produce them in the most environmentally conscious way possible. In this way, we behave fairly and responsibly toward people, the environment and the economy and contribute to the achievement of the global Sustainable Development Goals (SDGs). We have assigned our key topics, which we review at least annually to ensure they are up to date1, to the following four ESG areas. Reliable employer Our employees are the fourth pillar of succes alongside globalization, innovation and brands. As one of the largest employers in Upper Austria, we have a special responsibility toward them. Our focus is on supporting decent work, providing education & learning opportunities, promoting potential and ensuring health and safety. Sustainable mobility We secure our role as an innovation company through constant devel- opment work. As a primary goal, we focus on the highest quality and security for our customers and drive product and technology development in the area of sustainable mobility concepts such as electrified vehicles, reduction of noise and exhaust emissions. Environmentally conscious production As a manufacturing company, we are aware of our environmental impact and rely on the safe and efficient use of resources. Our recycling strategy focuses on material cycles and high recycling quotes. Fair business practice We contribute to sustainable economic growth. We operate in compliance with legal provisions and ethical principles in doing so. We are interested in long-term and trusting business relationships with business partners (especially suppliers) and are strongly anchored in the region. ESG Program In the future, the ESG program will be an overview of all ESG measures used to address or achieve the key ESG topics and associated targets. The measures and targets in this ESG program will be reviewed, updated or redefined in annual workshops with the departments along the ESG topics which are identified as material. The ESG program will then be submitted to the Executive Board for approval. An initial version of the ESG program was prepared in 2021 in line with the future process and is published in detailed form in the Sustainability Report 2021. Governance In response to increasing stakeholder interest in environmental, sus- tainability and governance issues, ESG management is being expanded. The ESG team, comprising employees from Risk Management, Quality Management and Investor Relations, is in regular consultation with ESG officers/responsible persons from all specialist departments. The manag- ing directors/divisional heads of the respective business units/divisions are responsible for implementing the ESG process and for creating and achieving ESG targets. The targets are regularly monitored and approved by the Executive Board. Overall responsibility rests with the CEO. Further information on the members of the Executive Board and their areas of responsibility can be found from page 66 onward in this Annual Report. 1 With the assistance of our stakeholders, a materiality analysis was last carried out in the 2020 reporting year, the results of which have been able to confirm unchanged for the current Sustainability Report

60 S H A RE & I N V E S T O R RE L AT I O N S The current share capital of € 33,796,535 is divided into 33,796,535 no-par bearer shares with voting rights, where every ordinary share has an equal stake in the share capital. In the 2021 financial year, the Management Board of the company, with the consent of the Supervisory Board, utilized the authorised capital and increased the share capital by € 11,257,861 from € 22,538,674 to € 33,796,535 by issuing 11,257,861 new shares in return for a contribution in kind. In the context of this contribution in kind, the Indian Bajaj group contributed approximately 46.5% of its shares in KTM AG to the company via Pierer Bajaj AG. As a result, and after the acquisition of Bajaj's remaining 1.5% KTM AG shareholdings, the company‘s share in KTM AG has increased from previously around 51.7% to around 99.8%. In 2020, the remaining 0.2% will be transferred to the main shareholder PIERER Mobility AG in return for an appropriate cash settlement (squeeze-out). Share price performance PIERER Mobility AG (SIX) vs. SPI PMAG - indexed SPI - indexed 3.1.2017 3.7.2017 3.1.2018 3.7.2018 3.1.2019 3.7.2019 1.3.2020 7.3.2020 1.3.2021 7.3.2021 31.12.2021 Share price performance PIERER Mobility AG (SIX) vs. SPI PMAG - indexed SPI - indexed CHF 200 180 160 140 120 100 80 60 40 CHF 135 130 125 120 115 110 105 100 95 90 1.2021 2.2021 3.2021 4.2021 5.2021 6.2021 7.2021 8.2021 9.2021 10.2021 11.2021 12.2021 31.12.2021 The shares of PIERER Mobility AG have had a primary listing in the Inter- national Reporting Standard of the SIX Swiss Exchange since November 14, 2016 (opening price of CHF 4.90*). The shares of PIERER Mobility AG were accepted into the Swiss Performance Index (SPI) of the SIX Swiss Exchange on March 29, 2017. Since March 3, 2020, the shares of PIERER Mobility AG have also been listed on the Regulated Market of the Frankfurt Stock Exchange (General Standard). Stifel Europe Bank AG (formerly MainFirst Bank AG) acts as the designated sponsor in Xetra trading. Baader Bank AG is the specialist on the trading floor of the Frankfurt Stock Exchange. On its own initiative, Wiener Börse AG has included the shares of PIERER Mobility AG in the „global market“ of global companies with effect from October 1, 2020. LISTING IN THE PRIME MARKET OF THE VIENNA STOCK EXCHANGE PIERER Mobility AG has applied for the admission of its shares to the Official Market (prime market segment) of the Vienna Stock Exchange. With PIERER Mobility AG as the leading European manufacturer of two-wheelers an important part of the Pierer Group joined the Vienna Stock Exchange with an additional listing. Trading in the prime market, the top segment of the Vienna Stock Exchange, commenced on 1 March, 2022. This step was taken following the great investor interest in Austria and abroad. PERFORMANCE OF THE PIERER MOBILITY SHARE The PIERER Mobility share first started trading on the SIX Swiss Exchange on November 14, 2016, with an opening price of CHF 4.90*. In the 2017 financial year, the share increased to CHF 7.39* (closing price on 12/29/2017). In the 2018 financial year, the closing price on December 28, 2018, was CHF 60.6. The share closed at CHF 54.0 on the last trading day of the 2019 financial year (12/30/2021). The global spread of the coronavirus had a massive impact on the stock markets in the spring of 2020, resulting in major price losses on the stock exchanges. As a result, the PMAG share also fell sharply. It was able to recover significantly during the year 2020 and recorded a rising price trend until the end of the year 2020. Starting from a year-end price of CHF 71.1 on December 30, 2020, the stock market price of the PMAG share increased continuously in the 2021 financial year. The PMAG share closed at CHF 94.0 on the last trading day of the 2021 financial year (12/30/2021). The highest closing price on the SIX Swiss Exchange during the reporting year was CHF 95.0; the lowest was CHF 71.9. The market capitalization as at December 12, 2021 was CHF 3,176.9 million. * price per share before the 10:1 reverse stock split in April 2018

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64 CORPORATE GOVERNANCE REPORT 2021 (Ö C G K ) The shares of PIERER Mobility AG have been listed on the SIX Swiss Exchange (SIX) in the International Reporting Standard since November 14, 2016 (ISIN AT0000KTMIG02). In addition, the shares of PIERER Mobility AG have been listed on the regulated market (General Standard) of the Frankfurt Stock Exchange since March 3, 2020 and on the Official Market (prime market segment) of the Vienna Stock Exchange since 1 March 2022. 01 A D H E RE N C E T O T H E A U S T RI A N C O D E O F C O R P O R AT E G O V E R N A N C E (Ö C G K ) The Austrian Code of Corporate Governance provides Austrian stock corporations with a framework for managing and monitoring their company. The Code aims to establish a system of management and control for companies and groups that is accountable and geared towards creating sustainable, long-term value. It is designed to provide a high degree of transparency for all stakeholders of a company. The Code is based on the provisions of Austrian stock corporation, stock exchange, and capital market law, the EU recommendations regarding the responsibilities of members of Supervisory Boards and the compensation of company directors, as well as the OECD Principles of Corporate Governance. Since 2002, the Code has undergone a number of revisions. The present Corporate Governance Report is based on the most recent version of the Code, which was adopted in January 2021. The Code can be accessed by the public at www.corporate-governance.at in its currently valid version. PIERER Mobility AG (formerly KTM Industries AG) is fully committed to the Austrian Code of Corporate Governance in its current version. This commitment by PIERER Mobility AG is voluntary and aims to boost shareholder confidence and to constantly optimize the high internal legal, behavioral and ethical standards of PIERER Mobility AG. The Corporate Governance Report for the 2021 financial year is publicly available on the homepage of the company (www.pierermobility.com) in the section Investor Relations > Corporate Governance > Corporate Governance Report. As a result of this commitment, PIERER Mobility AG has to comply with more than just the legal requirements (“L-Rules”). This voluntary self-imposed obligation means that it must explain non-compliance with the so-called C-Rules (“comply or explain”) which go above and beyond the legal require- ments. In accordance with this part of the Austrian Code of Corporate Governance, PIERER Mobility AG explains its nonconformity with C-Rules of the Code as follows: “C-Rule 18”: In light of the company’s size, no separate internal audit department has been set up. However, the company has established an internal control and reporting system which enables the Executive Board to identify risks and quickly implement an appropriate response. The Supervisory Board, particularly the Audit Committee, is kept regularly informed about the internal control mechanisms and risk management in place across the group. Further information on risk management can be found in the notes to the consolidated financial statements as at December 31, 2021. “C-Rule 26”: Stefan Pierer holds more than four supervisory board mandates in stock corporations that do not belong to the PIERER Mobility Group. These are supervisory board mandates in the superordinate Pierer Industrie Group. “C-Rule 27”: The variable annual compensation components are unlimited in terms of their amount. The variable remuneration takes only financial criteria into account. “C-Rules 39 and 41”: As the Supervisory Board of Pierer Mobility AG consisted solely of four members during the 2021 financial year, a Nomination Committee, as well as a committee that is authorized to make decisions in urgent cases, has not been established, as it would not lead to an increase in the efficiency of the Supervisory Board’s work. The tasks of the Nomination Committee are fulfilled by the entire Supervisory Board. “C-Rule 49”: The conclusion of contracts with members of the Supervisory Board, by means of which such members are committed to performing a service for the company outside of their activities on the Supervisory Board in return for remuneration not of minor value, shall legally require the consent of the Supervisory Board. However, these shall not be published by the company in view of the associated company and business secrets. In addition, the notes to the consolidated financial statements contain notes regarding “Explanations regarding related parties and the corporate bodies”, which detail the remuneration of Supervisory Board members outside of their activities on the Supervisory Board.

66 C O M P O S I T I O N O F T H E E X EC U T I V E B O A R D: In the financial year 2021, the Executive Board of PIERER Mobility AG consisted of the following members (C-Rule 16 of the ÖCGK): Name Year of Birth Stefan Pierer born 1956 Friedrich Roithner born 1963 Hubert Trunkenpolz born 1962 Viktor Sigl, MBA born 1974 Position Initial Appointment Member of the Executive Board (CEO) June 2, 2015* End of the current term of office December 31, 2023 Member of the Executive Board (CFO) Member of the Executive Board Member of the Executive Board June 2, 2015** December 31, 2023 January 1, 2018 December 31, 2023 December 19, 2019 December 31, 2023 Areas of Responsibilities strategic overall management product management quality management purchase supply chain international projects finance (Group)accounting tax affairs legal affairs risk management sales marketing customer service joint ventures human resources organisation IT * Stefan Pierer has been a member of the Executive Board of CROSS Industries AG (FN 261823 i) since April 30, 2005. In the Annual General Meetings of BF HOLDING AG (FN 78112 x) and CROSS Industries AG on April 22, 2015 the resolution was passed to merge CROSS Industries AG as the transferring company with BF HOLDING AG as the acquiring company within the framework of a universal succession. With effect from June 2, 2015 CROSS Industries AG was merged into BF HOLDING AG. At the same time, the name of the acquiring company (FN 78112 x) was changed to CROSS Industries AG. Since June 2, 2015 Stefan Pierer is therefore member of the Executive Board of CROSS Industries AG (now PIERER Mobility AG). ** Friedrich Roithner has been a member of the Executive Board of CROSS Industries AG (FN 261823 i) since June 23, 2010. In the Annual General Meetings of BF HOLDING AG (FN 78112 x) and CROSS Industries AG on April 22, 2015 the resolution was passed to merge CROSS Industries AG as the transferring company with BF HOLDING AG as the acquiring company within the framework of universal succession. With effect from June 2, 2015 CROSS Industries AG was merged into BF HOLDING AG. At the same time, the name of the acquiring company (FN 78112 x) was changed to CROSS Industries AG. Since June 2, 2015 Friedrich Roithner is member of the Executive Board of CROSS Industries AG (now PIERER Mobility AG). STEFAN PIERER (CEO) Professional Career: After graduating from the Montan University in Leoben, Austria (Business and Energy Management), Stefan Pierer began his career as a sales assistant at HOVAL GmbH in Marchtrenk in 1982, where he continued as a sales manager and authorized signatory. In 1987, he founded the PIERER Mobility Group, where he acts as majority shareholder and member of the Executive Board. He has been shareholder and member of the Executive Board of the KTM AG since 1992. In 2011, he established Pierer Industrie AG, where he is sole shareholder and Chairman of the Executive Board. Further main functions within the Group: Chairman of the Executive Board of KTM AG Member of the Supervisory Board of PIERER E-Bikes GmbH Membership of supervisory boards or comparable functions in other foreign and domestic companies, excluding companies included in the consolidated financial statements: Chairman of the Supervisory Board of Pankl Racing Systems AG Member of the Supervisory Board of SHW AG Chairman of the Supervisory Board of Pankl AG (formerly Pankl SHW Industries AG) Member of the Supervisory Board of Schwäbische Hüttenwerke Automotive GmbH Chairman of the Supervisory Board of Westpark Wels AG Member of the Board of Directors of swisspartners Group AG Member of the Board of Directors of Pierer Swiss AG

68 W O R K I N G P R O C E D U R E S O F T H E S U P E R V I S O RY B O A R D: During the 2021 financial year, the Supervisory Board diligently performed the duties and tasks incumbent upon it under Austrian law, the Articles of Association, the Austrian Code of Corporate Governance (ÖCGK), and the Rules of Procedure. All members of the Supervisory Board and its com- mittees are free and independent according to the terms of the Austrian Code of Corporate Governance. The Supervisory Board held a total of seven meetings during the 2021 financial year. Only at one Supervisory Board meeting, one member of the Supervisory Board was excused; at the other six Supervisory Board meetings all members of the Supervisory Board were present. The meetings lasted approximately two to two and a half hours on average. In addition, two Audit Committee meetings were held; the meetings lasted approximately one hour on average. In its meetings in the financial year 2021, the Supervisory Board dealt with project monitoring, business development and business planning (forecast, budget and multi-year plan- ning), including non-financial performance indicators. In addition, the Supervisory Board focused in its meetings on discussing and passing resolutions on the review and approval of the 2020 annual financial statements, the review of the 2020 consolidated financial statements, the agenda and the proposed resolutions for the extraordinary General Meeting and the 24th Annual General Meeting, the financial status and Executive Board matters. The report by the Supervisory Board on the 2021 financial year provides further details. The Supervisory Board also dealt with compliance management and corporate governance of the company. In accordance with the Articles of Association, the Supervisory Board has elected a Chairman and a Deputy Chairman and has appointed an Audit Committee in order to comply with legal requirements. The Supervisory Board meetings were conducted by the Chairman, or, in the event that he was unable to attend, by his representative. Members of the Supervisory Board receive the agenda that has been agreed with the Chairman at least 7 days before each meeting, together with comprehensive information concerning each point included on the agenda. In urgent cases, the Chairman of the Supervisory Board is permitted to shorten that period, provided he can provide evidence that all Members of the Supervisory Board have been informed of this. In the event that the above-mentioned period is shortened, and if not all Members of the Supervisory Board are present or represented, only those points on the agenda that resulted in the notice period being shortened shall be addressed. A quorum of the Supervisory Board shall be present when all Members of the Supervisory Board have been duly invited and at least half of the elected members, but no fewer than three members, including the Chairman or his Deputy, participate in the meeting in person. Supervisory Board decisions shall be made on the basis of a simple majority of the votes cast; in the event that votes are tied, the Chairman of the Supervisory Board shall cast the deciding vote. The transfer of ownership of shares in KTM AG, PIERER E-Bikes GmbH and Kiska GmbH and their subsidiaries, capital increases of any kind at KTM AG, PIERER E-Bikes GmbH and Kiska GmbH and their subsidiaries as well as the sale or transfer of ownership of all material assets of the company and Kiska GmbH and their subsidiaries require the consent of all capital representatives on the Supervisory Board. The Supervisory Board shall be entitled to request written reports from the Executive Board at any time with regard to company affairs and manage- ment issues. As a general rule, the Executive Board shall also participate in meetings of the Supervisory Board and the Audit Committee, unless the Chairman of the Supervisory Board states otherwise. Members of the Executive Board do not possess any voting rights. During the Supervisory Board meeting, the Members of the Executive Board will provide a comprehensive explanation of the course of business and the personal and financial development of the Group. Lengthy discussions take place between the Executive Board and the members. Resolutions concern- ing investments, acquisitions and other requests made in accordance with the rules of procedure of the Executive Board represent an additional focus for each Supervisory Board meeting. The committees formed by the Supervisory Board shall carry out their tasks on behalf of the Supervisory Board. Each committee must comprise at least 2 members. For each committee formed, the Supervisory Board shall appoint a chairman from among the members of that committee. The rules of procedure of the Supervisory Board shall apply with regard to the notice period, the meetings and resolutions of a committee.

70 Ernst Chalupsky Member In accordance with the Stock Corporation Act, the Supervisory Board of PIERER Mobility AG established an Audit Committee to perform its scheduled supervisory and control functions. The Audit Committee is responsible for the auditing and preparation for the establishment of the annual financial statements, the proposed distribu- tion of net income and the management report, as well as the auditing of the consolidated financial statements and the corporate governance report. The Audit Committee makes a proposal for the selection of the auditor and presents the proposal of the Supervisory Board to the Annual General Meeting for voting. In line with C-Rule 81a of the ÖCGK, the Audit Committee must establish a mutual line of communication with the financial auditor in a meeting. The Audit Committee of PIERER Mobility AG held two meetings during the 2021 financial year, in which a representative of the certified public accoun- tant also participated. The Remuneration Committee of PIERER Mobility AG comprises two members and is composed as follows: Josef Blazicek Chairman Ernst Chalupsky Member The Remuneration Committee of PIERER Mobility AG was established at the meeting of the Supervisory Board of PIERER Mobility AG on 20 December 2021 and therefore held its first constituent meeting in the 2021 financial year. Since the Supervisory Board consists of no more than six members, the tasks of the Nomination committee are fulfilled by the entire Supervisory Board. I N D E P E N D E N C E O F T H E S U P E R V I S O RY B O A R D: A member of the Supervisory Board shall be deemed to be independent if said member does not have any business or personal relations with the company or its Executive Board that constitute a material conflict of interests and are therefore capable of influencing the behavior of the member. Ernst Chalupsky is partner and general manager of Saxinger, Chalupsky & Partner Rechtsanwälte GmbH. The PIERER Mobility Group is advised by Saxinger, Chalupsky & Partner Rechtsanwälte GmbH on legal affairs. The advisory services are provided in accordance with standard market terms and conditions. The independence of the Supervisory Board members is defined by the following guidelines: Criterion 1: The Supervisory Board member was not a member of the Executive Board or a top executive of PIERER Mobility AG or a subsidiary of the company during the previous five-year period. Criterion 2: The Supervisory Board member does not or did not maintain any business relationships with the company or a subsidiary of the company in the previous year of a scope which may be considered significant for the Supervisory Board member. This also applies to business rela- tionships with companies in which the Supervisory Board member has a considerable economic interest, but not to performing roles on committees within the Group. Approval of individual transactions by the Supervisory Board pursuant to L-Rule 48 of the Austrian Code of Corporate Governance does not automatically disqualify the Supervisory Board member from being independent. Criterion 3: The Supervisory Board member was not an auditor of the company, a shareholder or employee of the auditing company during the previous three years. Criterion 4: : The Supervisory Board member is not a member of the Executive Board of another company, in which a member of the Executive Board of PIERER Mobility AG serves on its Supervisory Board.

72 COMPOSITION OF THE EXECUTIVE BOARD Concept: Candidates for an Executive Board position are selected based on their specialist qualification for the role applied for, their leadership qualities and previous performance, as well as their knowledge of the company. The aim is to ensure that the Executive Board as a whole has many years of experience in the areas of development, production, sales and finances. A person’s age and sex play no role in the decision to appoint members of the Executive Board; there is no preference or disadvantage in the selection process. At least two members of the Executive Board should have technical professional training. Objectives: The objective of the Diversity Concept is to fill the Executive Board with persons that complement each other based on their various professional and life experience. It should be ensured that the Executive Board as a whole has the highest level of experience and specialist training in order to successfully manage the PIERER Mobility Group and achieve the best results. Implementation: The Supervisory Board decides on the composition of the Executive Board roles using the criteria set out in the diversity concept, taking into account the interests of the company. Results in the reporting period: There were no changes to the composition of the Executive Board of PIERER Mobility AG in the 2021 financial year. At the end of the 2021 financial year, the Executive Board consists of 4 members who meet the requirements of the concept. COMPOSITION OF THE SUPERVISORY BOARD Concept: The Supervisory Board is composed of professionally and personally qualified s personnel. In the process the structure and business activities and expert balanced composition of the PIERER Mobility Group must be considered. A minimum of one financial expert must hold a seat on the Supervi- sory Board. Wherever possible, the Supervisory Board should include a total of 2 members with international experience or special expertise in one or more of the markets outside Austria that are of importance to the PIERER Mobility Group. Wherever possible, the Supervisory Board should include a total of one member, who, by virtue of his / her prior experience, has a detailed knowl- edge of PIERER Mobility AG. Aspects relating to diversity within the Supervisory Board should be taken into account, with regard to the age structure and the representation of both genders on the Supervisory Board. Greater attention must be devoted to these criteria, the larger the membership of the Supervisory Board becomes. Objectives: The objective of the diversity concept is to populate the Supervisory Board with individuals that complement one another based on their differing pro- fessional and life experience. It is necessary to ensure that the Supervisory Board as a whole possesses the highest level of experience and specialist training in order to monitor the business activities of PIERER Mobility AG and that of the PIERER Mobility Group in a critical manner and from as many different angles as possible. Implementation: Nominations for election to the Supervisory Board that are submitted to the Annual General Meeting should take account of the criteria laid down in the Diversity Concept. The objectives of the Supervisory Board with regard to its membership will not restrict the voting freedom enjoyed by the Annual General Meeting. Results in the reporting period: In the 2021 financial year, the Supervisory Board proposed to the 24th Annual General Meeting to re-elect Ernst Chalupsky and Josef Blazicek , who would have left the Supervisory Board at the end of the 24th Annual General Meeting, as members of the Supervisory Board. The election proposal of the Supervisory Board was made on the basis of the requirements of Section 87 para 2a AktG and the Corporate Governance Code and took into account the qualifications and experience of Ernst Chalupsky and Josef Blazicek and the excellent cooperation with them to date. The Annual General

74 R E P O R T P U R S U A N T T O T H E D I R E C T I V E O N C O R P O R AT E G O V E R N A N C E ( D C G) O F T H E S I X S W I S S E XC H A N G E As an Austrian company listed in Switzerland, PIERER Mobility AG (formerly KTM Industries AG) is subject to the rules of the Directive on Information relating to Corporate Governance of the SIX Swiss Exchange (the “Swiss Directive on Corporate Governance”). The Swiss Directive on Corporate Governance is available at https://www.ser-ag.com/dam/downloads/regulation/listing/directives/DCG-en.pdf. PIERER Mobility AG draws your attention to the fact that the company has been established under Austrian law and that the names, responsibilities and duties of organs of the company may therefore diverge from the rules applicable in Switzerland. In consequence, only Austrian legal terminology will be used in what follows. Companies that are not constituted in accordance with the Swiss Code of Obligations are required to fulfil the stipula- tions of the Swiss Directive on Corporate Governance, which are formulated with close reference to the Code of Obligations, in a manner analogous to Swiss companies. A short description of Austrian organizational structure therefore follows: Executive Board: The Executive Board is responsible for the general management and representation of the company; it is the sole organ of general management and representation. The Executive Board is not bound by any instructions from the shareholders or the Supervisory Board; rather, it acts under its own responsibility and without being under orders. Only when undertaking certain extraordinary transactions is the Executive Board required to obtain the consent of the Supervisory Board. Where the Swiss Directive on Corporate Governance requires details of the “management”, details regarding the Executive Board will be provided accordingly. However, the function of the Executive Board does not precisely match that of the “management” in a Swiss company. Supervisory Board: The Supervisory Board appoints, dismisses and oversees the Executive Board. Its consent is also required for certain legal transactions. Where the Swiss Directive on Corporate Governance requires details of the “board of directors”, details regarding the Supervisory Board will be provided accordingly. However, the function of the Supervisory Board does not precisely match that of the board of directors of a Swiss company. Annual General Meeting: The Annual General Meeting, as the highest board of the company, appoints and dismisses the members of the Supervi- sory Board and appoints the auditor. Where the Swiss Directive on Corporate Governance requires details of the “general meeting of shareholders”, details regarding the General Meeting will be provided accordingly. Differences exist between Austrian and Swiss law with respect to general meetings. 1. G R O U P S T RU C T U R E A N D S H A R E H O L D E R B A S E 1.1. GROUP STRUCTURE PIERER Mobility AG, with registered office in 4600 Wels, Edisonstraße 1, Austria, has had its primary listing on the SIX Swiss Exchange since Novem- ber 14, 2016 (ISIN: AT0000820659, Security Number: 504.289). PIERER Mobility AG has a share capital of EUR 33’796’535, divided into 33’796’535 voting bearer shares of no-par value. Every share has an equal stake in the share capital. The object of PIERER Mobility AG is in particular to act as a holding company, with a particular focus on the acquisition and administration of industri- al companies and holdings in such companies, the management of companies and holdings forming part of the PIERER Mobility Group, the implemen- tation of the activities of Pierer Industrie AG in the field of mobility (Mobility) and the performance of services for these companies (group services), as well as corporate advisory services in general. This corporate object of the company is laid down in Section 2 of the articles of association, which can be found on the PIERER Mobility AG website (https://www.pierermobility.com/wp-content/uploads/2021/10/2021-10-22_Articles-of-Association_PIERER-Mobility-AG.pdf). Management of the PIERER Mobility Group is carried out by a management team that includes divisional managers who are responsible for managing a particular product group within the framework of the strategy set by the Executive Board. Divisional managers report directly to the Executive Board of PIERER Mobility AG. PIERER Mobility AG is the parent company of the PIERER Mobility Group. The PIERER Mobility Group is Europe’s leading “Powered Two-Wheeler” manufacturer with a focus on highly innovative premium motorcycles and electric mobility for two-wheeled vehicles. The PIERER Mobility Group is divided into the strategic core divisions of (i) Motorcycles with its equity holding in the KTM AG, (ii) Design, Concept Development and Digitalization with the equity holdings in KTM Technologies GmbH, PIERER Innovation GmbH, KISKA GmbH, Avocodo GmbH and DealerCenter Digital GmbH, and (iii) E-Bicycles with the equity holding in PIERER E-Bikes GmbH.

76 PIERER E-Bikes GmbH The E-Bicycle division of the PIERER Mobility Group with the brands HUSQVARNA E-Bicycles and R RAYMON, GASGAS and FELT Bicycles is bundled in PIERER E-Bikes GmbH. List of the active non-listed subsidiaries A detailed list of the active non-listed subsidiaries of PIERER Mobility AG can be found in the schedule of equity holdings (pages 191-193 in the Annual Report). 1.2. SIGNIFICANT SHAREHOLDERS The shareholder structure of PIERER Mobility AG as at Tuesday, December 31, 2021 was as follows: Pierer-Group: Pierer Bajaj AG Pierer Konzerngesellschaft Free float 73.32% 2.58% 24.1% As at the reporting date of December 31, 2021, the Pierer Group thus held approximately 75.90.% of the share capital and voting rights of PIERER Mobility AG. PIERER Mobility AG is not aware of any other shareholders holding over 3 percent of the company’s voting rights, whether directly or indirectly. Notifications of significant shareholders and shareholder groups made to PIERER Mobility AG and the Disclosure Office of SIX Swiss Exchange AG pursuant to Art.120 et seq. of the Financial Markets Infrastructure Act (FinFraG) can be viewed on the publications platform of the Disclosure Office at https://www.ser-ag.com/de/resources/notifications-market-participants/significant-shareholders.html#/. 1.3 CROSS-SHAREHOLDINGS There are no cross-shareholdings. 2. C A P I TA L S T RU C T U R E 2.1 CAPITAL As at the reporting date, the share capital of PIERER Mobility AG was EUR 33’796’535 and was fully paid-up. The share capital of PIERER Mobility AG is divided into 33’796’535 bearer shares of no par value, each of which represents an equal interest in the share capital. The shares grant the rights that are due to stockholders under the Austrian Stock Corporation Act. These include in particular the right to payout of the dividend resolved upon at the Annual General Meeting as well as the right to vote at Annual General Meetings. On the reporting date of December 31, 2021, PIERER Mobility AG held both, conditional capital and authorized capital. According to §5 of the Articles of Association the authorized capital amounts to EUR 11’269’337, of which an amount of EUR 11’257’861 has already been utilised. As of the reporting date 31 December 2021, there remains thus an authorized capital in the amount of EUR 11’476. The conditional capital according to § 5a of the Articles of Association amounts to EUR 25’000’000 and has not yet been utilised.

78 d) The Executive Board is authorized to exclude the pre-emption rights of shareholders to financial instruments in the sense of Section 174 AktG with the agreement of the Supervisory Board. e) The conditional increase of the Company share capital in accordance with Section 159, paragraph 2, no. 1 AktG by up to EUR 25 million by issuing up to 25 million no-par value bearer shares (ordinary shares) for issue to creditors of financial instruments in accordance with Section 174 AktG, which are issued using the authorization granted in this Annual General Meeting, in so far as the creditors of the financial instru- ments make use of their options of exchange and/or pre-emption rights on Company shares. The issue price and the conversion ratio shall be determined according to a recognized pricing procedure, following accepted financial mathematical methods and based on the company’s share price. The newly issued shares of the conditional capital increase have the same dividend entitlement as the pre-existing shares of the Company. The Executive Board, subject to the approval of the Supervisory Board, is authorized to determine the further details of the execution of the conditional capital increase. The Supervisory Board is authorized to pass amendments to the articles of association that may arise due to the issue of shares from the conditional capital. The corresponding provision of the Articles of Association in § 5a Conditional Capital reads as follows: § 5a Conditional Capital In accordance with § 159 (2) Z 1 AktG, the share capital of the Company is increased by up to EUR 25,000,000.00 by issuing up to 25’000’000 no-par value bearer shares of common stock (no-par value shares) to be issued to creditors of financial instruments in accordance with § 174 AktG, which are issued by the Company using the authorization granted at this Annual General Meeting. The capital increase may only be carried out to the extent that the creditors of the financial instruments exercise their conversion and/or subscription rights to shares of the Company. The issue price and the exchange ratio shall be determined in accordance with recognized financial mathematical methods and the share price in a recognized pricing procedure. The newly issued shares of the conditional capital increase are entitled to dividends to the same extent as the existing shares of the Company. The Executive Board is authorized, with the approval of the Supervisory Board, to determine the further details of the implementation of the conditional capital increase. The Supervisory Board is authorized to resolve on amendments to the Articles of Association resulting from the issue of shares from the conditional capital 2.3 CHANGES IN CAPITAL IN THE LAST THREE REPORTING PERIODS The consolidated equity of PIERER Mobility AG was EUR 618.6 million on 31 December 31, 2019, EUR 654.1 million on 31 December 2020 and EUR 765.6 million on 31 December 2021. Information on changes in equity is set out in the consolidated statement of changes in equity in the Annual Report (pages 126-127). At the extraordinary general meeting of PIERER Mobility AG on October 4, 2019, a resolution was passed to launch a share buyback program and to buy back up to 7.404% (corresponding to 20% of the free float) of the share capital of PIERER Mobility AG. The acquired bearer shares could be used both as consideration for the acquisition of companies, for resale and for reducing the share capital by redeeming treasury shares. The repurchase of treasury bearer shares started on October 22, 2019, was suspended with effect from April, 7 2020 and ended prematurely on January 20, 2021. A total of 224’043 no-par value shares were acquired on the stock exchange as part of the buyback program. All treasury shares acquired under the share buyback program were resold by the reporting date. As of the reporting date, PIERER Mobility AG does not hold any treasury shares. The Executive Board of PIERER Mobility AG decided on September 29, 2021 to carry out a capital increase against contribution in kind from the authorised capital. In the process, 11’257’861 new shares were issued at an issue price of EUR 79.50 per share. As a result of the capital increase through contributions in kind, the share capital of PIERER Mobility AG increased by EUR 11’257’861 from EUR 22’538’674 to EUR 33’796’535. 2.4 / 2.5 SHARES AND PARTICIPATION CERTIFICATES/DIVIDEND-RIGHT CERTIFICATES As at the reporting date, the share capital of PIERER Mobility AG was EUR 33’796’535 and was fully paid-up. The share capital of PIERER Mobility AG is divided into 33’796’535 bearer shares of no par value, each of which represents an equal interest in the share capital. PIERER Mobility AG has issued no participation certificates or dividend-right certificates.

80 Due to the COVID-19 crisis, the 24th Annual General Meeting of PIERER Mobility AG was held as a virtual general meeting without the physical presence of the participants in order to prevent the further spread of the coronavirus and to protect the shareholders and other participants. Pursuant to the COVID-19 Ordinance under company law issued on the occasion of the COVID-19 crisis, the virtual general meeting of a public limited company must be able to be attended from any location by means of an acoustic and optical connection in real time, so that the individual shareholder can fol- low the course of the meeting. In addition, the shareholder must be enabled to make requests to speak during the meeting and to participate in voting. A special proxy is responsible for proposing resolutions, casting votes, and raising objections at the virtual shareholders’ meeting. The Company must propose at least four suitable and independent persons for selection as special proxies. Shareholders are thus connected to the General Meeting by a livestream and exercise their right to propose, vote and object via this proxy; changes to instructions are possible up to the end of the general debate. Shareholders can submit questions electronically - also during the virtual shareholders’ meeting - until the chairman of the meeting announces the end of the general debate. Right of petition Pursuant to § 109 of the Austrian Stock Corporation Act, shareholders whose cumulative holdings reach 5% of the share capital may demand in writing that certain points be placed on the agenda of the Annual General Meeting and announced. Each agenda point thus moved must include a proposal for a resolution and provide grounds. The petitioning shareholders must have held the shares for at least three months before the petition is submitted. The shareholders’ demand must reach the company no later than the 21st day before an Annual General Meeting, or no later than the 19th day before any other General Meeting (§ 109, paragraph 2 of the Austrian Stock Corporation Act). Pursuant to § 110 of the Austrian Stock Corporation Act, shareholders whose cumulative holdings reach 1% of the share capital may submit proposed resolutions on each point of the agenda to the company in text form and demand that said proposals be made available on the company’s website together with the names of the shareholders concerned, the grounds for the proposal and the opinion, if any, of the Executive or Supervisory Board. The demand shall be valid if it reaches the company no later than on the seventh working day before the Annual General Meeting. Where the proposal is for the election of a member of the Supervisory Board, the declaration of the nominee as per § 87(2) of the Austrian Stock Corporation Act shall be submitted in place of the grounds for the proposal. Pursuant to § 119 of the Austrian Stock Corporation Act, every shareholder has the right to propose a motion on any point on the agenda at an Annual General Meeting. Where a motion is proposed at the Annual General Meeting itself, there is no requirement to provide grounds. Right to information / Right of inquiry Pursuant to § 118 of the Austrian Stock Corporation Act, information on matters concerning the company is to be given to every shareholder on demand at the Annual General Meeting, insofar as such information is necessary for the factual assessment of a point on the agenda. The right to information allows information to be obtained on the company’s position and serves as a basis for the company’s decision-making. In principle, the obligation to provide information is incumbent on the Executive Board only, not on the Supervisory Board, except as regards matters that concern the Supervisory Board alone. Information need not be provided if, according to reasonable commercial judgment, it is of a nature that may cause substantial harm to the company or an affiliated company, or if providing it would be a criminal offense. Further, information need not be provided where it has been constantly availa- ble in question-and-answer form on the company’s website for at least seven days before the start of the Annual General Meeting. Right to speak Every shareholder has the right to express his opinion at the Annual General Meeting. The Annual General Meeting is the shareholders’ forum for infor- mation and discussion. The chairman of the Meeting may restrict the right to speak from the start of the meeting or as required. The right to speak as such may not be set aside entirely. Voting rights Every shareholder has a right to vote at the Annual General Meeting in proportion to his shareholding. The Articles of Association 4 cannot generally grant a shareholder more votes than he has shares; however, it is permissible to restrict voting rights for equity holdings inter alia exceeding a certain size. Shareholders may exercise their voting right in three ways: they may vote for a motion, vote against the motion, or abstain. Voting rights in respect of specific resolutions are suspended in certain cases of a shareholder’s conflict of interest. 4 The Articles of Association are available to view on the PIERER Mobility AG website: https://www.pierermobility.com/wp-content/uploads/2021/10/2021-10-22_Articles-of-Association_PIERER-Mobility-AG.pdf

82 Josef Blazicek (born 1964), Austrian citizen, has been active in business since completing high school. He began his career in the International Sales division of GIRO Credit Bank der Österreichischen Sparkassen AG. From 1989, he was head of the trading department at ERSTE BANK AG, before taking up the same position at INVESTMENTBANK AUSTRIA AG in 1991, where he was inter alia a director of Bank Austria Securities Ltd. in New York. From 1997 to 2000, he was Head of Syndications at ICE Securities Ltd. in London. Subsequently, until 2003, he was managing shareholder at OCEAN Equities Ltd. From 2000 he worked in various positions within the QINO Group. In addition, Josef Blazicek is vice chairman of the supervisory board of Pierer Industrie AG (Austria). Josef Blazicek has no material business relationship with PIERER Mobility AG or any group company of PIERER Mobility AG. Josef Blazicek has been a member of the Supervisory Board since 2008. He currently serves as Chairman of the Supervisory Board of PIERER Mobility AG. His term of office will expire at the end of the Annual General Meeting ruling upon the financial year 2025. Ernst Chalupsky (born 1954), Austrian citizen, is an attorney and partner in the international law firm of SCWP Schindhelm. Ernst Chalupsky studied at the Johannes Kepler Universität, Linz and trained as an attorney at a highly reputed partnership in Upper Austria. He has been a practicing attorney in Wels since 1982. He was a partner in the firm of Chalupsky & Gumpoldsberger, which merged in 2000 with Saxinger & Baumann to form SCWP. Ernst Chalupsky completed a master’s degree in European and International Commercial Law at the Universität St. Gallen in 1996 - 97. In addition, Ernst Chalupsky is chairman of the supervisory board of Pierer Industrie AG (Austria). Ernst Chalupsky has been a member of the Supervisory Board since 2014. He currently serves as Deputy Chairman of the Supervisory Board of PIERER Mobility AG. His term of office will expire at the end of the Annual General Meeting ruling upon the financial year 2025. Ernst Chalupsky is partner and managing director of Saxinger, Chalupsky & Partner Rechtsanwälte GmbH. The PIERER Mobility Group is advised by Saxinger, Chalupsky & Partner Rechtsanwälte GmbH on legal affairs. The advisory services are provided in accordance with standard market terms and conditions. Ernst Chalupsky has no material business relationship with PIERER Mobility AG or any group company of PIERER Mobility AG. Klaus Rinnerberger (born 1964), Austrian citizen, studied law in Vienna and began his career in 1987 as an auditor and consultant at Arthur Andersen & Co. He subsequently performed a variety of management roles in the automotive industry, including serving on the Executive Boards of Magna Automobiltechnik AG and Magna Steyr AG. In 2009, he joined the Executive Board of Polytec Holding AG, serving as CEO of the Peguform Group after its separation from Polytec until 2011. In addition, Klaus Rinnerberger is member of the Executive Board of Pierer Industrie AG (Austria). Klaus Rinnerberger has no material business relationship with PIERER Mobility AG or any group company of PIERER Mobility AG. Klaus Rinnerberger has been a member of the Supervisory Board since 2015. His term of office will expire at the end of the Annual General Meeting ruling upon the financial year 2024. Alfred Hörtenhuber (born 1955), Austrian citizen, graduated from high school in 1975 and began his career as an assistant salesman at K. Rosen- bauer KG in Leonding, later rising to be Head of Exports for Western Europe. He completed his management training at the MZSG St. Gallen and the IMD Lausanne. In 1985, he joined the Miba Group, initially as a marketing manager. In 1990, he became a member of the Executive Board at Miba Sintermetall AG, with responsibility for marketing, research and development. In 1998, he became CEO of the Miba Friction Group and a member of the Executive Board of Miba AG Holding. Alfred Hörtenhuber has been a member of the management team of the PIERER Mobility Group since February 6, 2008. Alfred Hörtenhuber was a member of the Executive Board of PIERER Mobility AG from June 2, 2015 to December 31, 2017. Alfred Hörtenhuber has no material business relationship with PIERER Mobility AG or any group company of PIERER Mobility AG. Since April 26, 2018, Alfred Hörtenhuber is member of the Supervisory Board of the company. His term of office will expire at the end of the Annual General Meeting ruling upon the financial year 2022. SIGNIFICANT OTHER FUNCTIONS OF THE MEMBERS OF THE SUPERVISORY BOARD The following table contains the names of the companies and enterprises in which the current members of the Supervisory Board - to the knowledge of the Company - have been a member of an administrative, management or supervisory body of PIERER Mobility AG or a group company of PIERER Mobility AG during the last three years. Furthermore, current activities in management and supervisory bodies of major Swiss and foreign corpora- tions, institutions and foundations under private and public law are listed. The column headed “Still serving” indicates whether the partnership or membership of a management, executive or supervisory board is still current.

84 Please refer to the Report under the Austrian Corporate Governance Code (Committees of the Supervisory Board, pages 69-70). 3.5.3 Working methods of the Supervisory Board and its committees Please refer to the Report under the Austrian Corporate Governance Code (Working procedures of the Supervisory Board, pages 68-69). In the financial year 2021, the Supervisory Board addressed the efficiency of its activities, in particular its organization and working methods, and carried out a self-evaluation. 3.6 DEFINITION OF AREAS OF RESPONSIBILITY Responsibility for the management of an Austrian Aktiengesellschaft lies with the Executive Board. Neither the Supervisory Board nor the Annual General Meeting has a right to issue instructions to the Executive Board. However, under the Austrian Stock Corporation Act, the Executive Board is required to obtain the consent of the Supervisory Board before entering into certain extraordinary transactions. The Executive Board consults with the Supervisory Board on the strategic direction of the company and discusses the implementation status of the strategy with the Supervisory Board at regular intervals. The duty of the Supervisory Board is to appoint and dismiss the Executive Board and in particular to review the ongoing activities of the Executive Board. To this end, the Executive Board informs the Supervisory Board of its activities on a regular basis. The Supervisory Board held a total of seven meetings during the 2021 financial year. The meetings lasted approximately two to two and a half hours on average. Two meetings of the Audit Committee also took place; these meetings lasted approximately one hour on average (see also the Report under the Austrian Corporate Governance Code, Working procedures of the Supervisory Board, pages 68-69). 3.7 INFORMATION AND CONTROL INSTRUMENTS VIS-À-VIS THE EXECUTIVE BOARD PIERER Mobility AG does not have its own risk management system. In light of the company’s size, no separate internal audit department has been set up. However, the company has established an internal control and reporting system which enables the Executive Board to identify risks and quickly implement an appropriate response. The Supervisory Board, particularly the Audit Committee, is kept regularly informed about the internal control mechanisms and risk management in place across the group. Under the internal control and reporting system, identifiable risks in numerous areas of the business are captured and evaluated on an ongoing basis; material results are assessed by the Executive Board and brought to the attention of the Supervisory Board. Further information on risk management can be found in the notes to the consolidated financial statements as at December 31, 2021. The company’s management information system collates a large number of performance indicators from various areas of the PIERER Mobility Group, as well as comprehensive financial information. The system makes this data available electronically to the company’s management in a predesigned format. The Supervisory Board receives monthly and quarterly reports based on information in the management information system.

86 Membership of supervisory boards or comparable functions in other foreign and domestic companies, excluding companies included in the consolidated financial statements: Chairman of the Supervisory Board of Pankl Racing Systems AG Member of the Supervisory Board of SHW AG Chairman of the Supervisory Board of Pankl AG (formerly Pankl SHW Industries AG) Member of the Supervisory Board of Schwäbische Hüttenwerke Automotive GmbH Chairman of the Supervisory Board of Westpark Wels AG Member of the Board of Directors of swisspartners Group AG Member of the Board of Directors of Pierer Swiss AG FRIEDRICH ROITHNER (born 1963), Austrian citizen, graduated in business studies from the University of Linz and subsequently worked as an assis- tant auditor, with a focus on auditing and tax, at an international accountancy firm. From 1992 onwards, he was employed by Austria Metall AG, where he was a member of the Executive Board from 2002 to 2006. Since the end of 2007, Friedrich Roithner has been part of the management team at the PIERER Mobility Group. Friedrich Roithner is Chief Financial Officer of the PIERER Mobility AG. Further main functions within the Group: Chairman of the Supervisory Board of KTM AG Chairman of the Supervisory Board of KTM Components GmbH Chairman of the Supervisory Board of PIERER E-Bikes GmbH Membership of supervisory boards or comparable functions in other foreign and domestic companies, excluding companies included in the consolidated financial statements: Member of the Supervisory Board of Pankl Racing Systems AG Member of the Supervisory Board of SHW AG Member of the Supervisory Board of Pankl AG (formerly Pankl SHW Industries AG) Member of the Supervisory Board of Westpark Wels AG HUBERT TRUNKENPOLZ (born 1962), Austrian citizen, started his career after graduating from the Johannes Kepler University Linz (Business Admin- istration) at ISA Audivisual Communication Corp. as marketing manager and subsequently at TRUMAG as sales manager/managing director. He has been at the PIERER Mobility Group since 1992 and a member of the Executive Board of the KTM Group since 2004. Hubert Trunkenpolz also became a member of the Executive Board of KTM AG in 2007 and of PIERER Mobility AG in 2018. Further main functions within the Group: Member of the Executive Board of KTM AG Managing Director of PIERER E-Bikes GmbH Membership of supervisory boards or comparable functions in other foreign and domestic companies, excluding companies included in the consolidated financial statements: None. VIKTOR SIGL, MBA (born 1974), Austrian citizen, graduated from the Johannes Kepler University in Linz with a degree in Business Administration and started his professional carrier at KPMG in the field of financial auditing and tax consultancy. In 2005, after completing his tax consultancy examinations and an MBA program at the University of Toronto, Viktor Sigl joined voestalpine AG to become head of Corporate Tax & Finance Advisory. Before joining the KTM AG, he was commercial director in the field of international industrial assembly. Since December 19, 2019, Viktor Sigl is in the Executive Board of PIERER Mobility AG. Further main functions within the Group: Member of the Executive Board of KTM AG Vice Chairman of the Supervisory Board of KTM Components GmbH Member of the Supervisory Board of PIERER E-Bikes GmbH

88 EXECUTIVE BOARD COMPANY KTM AG KTM Components GmbH Pankl Racing Systems AG POSITION Chairman of the Supervisory Board Chairman of the Supervisory Board Member of the Supervisory Board Pankl AG (formerly Pankl SHW Industries AG) Member of the Supervisory Board Hubert Trunkenpolz Viktor Sigl, MBA Pierer Bajaj AG Pierer Beteiligungs GmbH PIERER E-Bikes GmbH PIERER IMMOREAL GmbH Pierer Industrie AG SHW AG W Verwaltungs AG (company dissolved) Westpark Wels AG GASGAS Motorcycles GmbH HDC GmbH Husqvarna Motorcycles GmbH Member of the Executive Board Managing Director Chairman of the Supervisory Board Managing Director Member of the Executive Board Member of the Supervisory Board Chairman of the Supervisory Board Deputy chairman of the Supervisory Board Member of the Executive Board Member of the Supervisory Board Managing Director Managing Director Managing Director Husqvarna Motorcycles North America, Inc. Managing Director KTM AG KTM Canada, Inc. KTM Japan K.K. KTM North America, Inc. KTM Österreich GmbH KTM Sportcar GmbH KTM Sportmotorcycle Deutschland GmbH KTM Sportmotorcycle GmbH KTM MOTOHALL GmbH KTM Racing GmbH PIERER E-Bikes GmbH W Verwaltungs AG (company dissolved) HDC GmbH GASGAS Motorcycles GmbH Husqvarna Motorcycles GmbH KTM AG KTM Beteiligungs GmbH KTM Components GmbH KTM Immobilien GmbH (formerly KTM Motorrad AG, formerly KTM-Sportmotorcycle AG) Member of the Executive Board Managing Director Managing Director Managing Director Managing Director Managing Director Managing Director Managing Director Managing Director Managing Director Managing Director Deputy chairman of the Supervisory Board Managing Director Managing Director Managing Director Member of the Executive Board Managing Director Deputy chairman to the Supervisory Board Managing Director KTM Logistikzentrum GmbH Managing Director STILL SERVING Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No Yes Yes Yes Yes Yes Yes Yes Yes Yes No Yes Yes Yes Yes Yes Yes No Yes Yes Yes Yes Yes Yes Yes Yes

90 6 . S H A R E H O L D E R S ’ PA R T I C I PAT I O N RI G H T S 6.1 VOTING RIGHTS RESTRICTIONS AND REPRESENTATION PIERER Mobility AG has 33’796’535 shares of no par value in issue. Each share confers one vote. There are no shares with preferential rights and no restrictions on the shares in issue. The principle of “one share – one vote” thus applies. Voting rights may be exercised by proxy. Proxy authorization must be granted in text form to a specific person and forwarded to PIERER Mobility AG, which must retain or traceably record it. There are thus no restrictions on voting rights in the articles of association, no group clauses and no rules on granting exceptions. 6.2 QUORUMS REQUIRED BY THE ARTICLES OF ASSOCIATION Where the law does not prescribe a different majority, the Annual General Meeting shall pass resolutions by simple majority of the votes cast and, in those cases where a majority of the capital is required, by simple majority of the share capital represented. The Articles of Association of PIERER Mobility AG5 do not set more stringent voting requirements than those set by the Austrian Stock Corporation Act. 6.3 / 6.4 CONVOCATION OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS, INCLUSION OF ITEMS ON THE AGENDA The provisions regarding the convocation of the Annual General Meeting do not diverge from the provisions of the Austrian Stock Corporation Act.6 Convocation should be issued no later than the 28th day before an Annual General Meeting, and no later than the 21st day before any other General Meeting. Convocations are published in the “Wiener Zeitung”, made known via a European dissemination system and made available on the website of PIERER Mobility AG. Annual General Meetings are normally convoked by the Executive Board of the company. The Executive Board is also obliged to convoke a General Meeting if shareholders holding at least 5% of the share capital submit a written demand for convocation, stating the grounds for the demand and presenting an agenda and a proposed resolution for each point thereon. The articles of association may modify this statutory requirement by relaxing the formal requirements or reducing the minimum size of the shareholding required to demand convocation of a General Meeting. The Articles of Association of PIERER Mobility AG currently contain no such provisions that deviate from the statutory requirements7. The petitioning shareholders must have held their shares for at least three months before submitting the petition and retain them until a decision on the petition is made. If the convocation is not issued by the Executive Board, the Executive Board is obliged to assist as necessary with the proper convocation of and preparation for the General Meeting. 6.5 SHARE REGISTER PIERER Mobility AG has only bearer shares in issue. It therefore does not maintain a share register. 7. C H A N G E S O F C O N T R O L A N D D E F E N S E M E A S U R E S 7.1 DUTY TO MAKE AN OFFER Due to the admission of the shares to the Official Market of the Vienna Stock Exchange, the provisions of the Austrian Takeover Act are applicable to PIERER Mobility AG. The Austrian Takeover Act (ÜbG) recognises both mandatory and voluntary takeover offers. The Articles of Association of PIERER The Articles of Association are available to view on the PIERER Mobility AG website: https://www.pierermobility.com/wp-content/uploads/2021/10/2021-10-22_Articles-of-Association_PIERER-Mobility-AG.pdf 5 6 The Articles of Association are available to view on the PIERER Mobility AG website: 7 The Articles of Association are available to view on the PIERER Mobility AG website: https://www.pierermobility.com/wp-content/uploads/2021/10/2021-10-22_Articles-of-Association_PIERER-Mobility-AG.pdf https://www.pierermobility.com/wp-content/uploads/2021/10/2021-10-22_Articles-of-Association_PIERER-Mobility-AG.pdf

92 Voluntary Offer A voluntary offer is an offer that is neither required by law nor a means to bring about a change of control. In practice, voluntary offers are frequently used by existing controlling shareholders to reduce the free float. Bidders making voluntary offers are not subject to statutory rules regarding the offer price, which they can set freely. 7.2 CLAUSES ON CHANGE OF CONTROL As at the balance sheet date, the management of the company (Executive Board and Supervisory Board) has not made any special contractual agree- ments to protect itself against a hostile takeover. 8 . A U D I T O R S 8.1 DURATION OF MANDATE AND TERM OF OFFICE OF THE LEAD AUDIT PARTNER KPMG Austria GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft, Linz, was appointed by the 24th Annual General Meeting to serve as the auditor of the consolidated financial statements and separate financial statements of the company for the 2021 financial year. KPMG Austria GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft was first appointed as group and company auditor for the short accounting period from 10/01/2014 to 12/31/2014. The lead audit partner is Mr. Helge Löffler, who first fulfilled this role for the short accounting period from 1/1/2019 to 12/31/2019. 8.2 AUDIT FEE Please refer to the Report under the Austrian Corporate Governance Code (Audit and External Evaluation, page 73). 8.3 ADDITIONAL FEES Please refer to the Report under the Austrian Corporate Governance Code (Audit and External Evaluation, page 73). 8.4 INFORMATION AND CONTROL INSTRUMENTS PERTAINING TO THE AUDITOR OF THE FINANCIAL STATEMENTS During the reporting year, the auditor attended two meetings of the Supervisory Board and two meetings of the Audit Committee. The auditor is moni- tored and evaluated at regular intervals by the Audit Committee of the Supervisory Board. The Audit Committee makes a proposal for the selection of the auditor and presents the proposal of the Supervisory Board to the Annual General Meeting for voting. The Audit Committee must also meet with the auditor to establish a mutual line of communication. The Audit Committee must also approve non-audit reviews by the auditor (auditor of the consolidated financial statements). Finally, the independence and activities of the auditor are reviewed and monitored, particularly with regard to the additional services provided to the audited company. The compensation paid to the auditor is reviewed regularly for conformity to market terms and conditions. The lead audit partner for the company rotates every 7 years (internal rotation). By virtue of the implementation of Regulation (EU) No. 537/2014 of April 16, 2014 on specific requirements regarding statutory audit of public-interest entities, PIERER Mobility AG must change its auditor by the 2024 financial year at the latest (external rotation).

94 10. Q U I E T P E RI O D S Due to the submission of shares to the regulated market (General Standard) of the Frankfurt Stock Exchange, PIERER Mobility was subject to provi- sions of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation, MAR) in the 2021 financial year. Article 19 para 11 MAR stipulates a trading ban for persons discharging managerial responsibilities. Within the meaning of the provisions of MAR, the following persons are deemed to be persons discharging managerial responsibilities at PIERER Mobility AG: (i) persons who belong to an administrative, management or supervisory body of the company (members of the Executive Board and the Supervisory Board) and (ii) persons who, as senior executives, do not belong to any of these bodies but regularly have access to insider information directly or indirectly related to this company and are authorized to make business decisions about future developments and business prospects of the company. The trading ban covers any transactions on its own account or for the account of a third parties relating to the shares of the company. The trading ban applies to a closed period of 30 calendar days before the announcement of an interim financial report or a year-end report which the company is obliged to make public. During such a trading ban, persons discharging managerial responsibilities are only allowed to trade with shares of the company in individual cases due to the existence of exceptional circumstances such as severe financial difficulty, which require the immediate sale of shares (Article 19 para 12 (a) MAR). Transactions in connection with employee participation programs, options, warrants, with compulsory shares and subscription rights as well as pure custody account transfers may also be exempt from the trading ban (Article 19 para 12 (b) MAR). In order to apply these exceptions, the explicit permission of the person concerned must be obtained from the company. In implementation of Article 19 para 11 MAR, PIERER Mobility AG has set up the following general quiet periods for persons discharging managerial responsibilities in the 2021 financial year: February 28, 2021 to March 30, 2021 (prior to publication of the annual financial report 2020 on March 30, 2021) August 1, 2021 to August 31, 2021 (prior to publication of the 2021 half-year financial report on August 31, 2021). No exemptions from the general trading ban have been applied for or granted for these periods.

96 MANAGEMENT REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS A S O F D E C E M B E R 31 S T 2 0 21 O F P I E R E R M O B I L I T Y A G , W E L S 1. D E V E L O P M E N T O F T H E P I E RE R M O B I L I T Y G R O U P THE COMPANY The PIERER Mobility Group is Europe‘s leading manufacturer of powered two-wheelers (PTWs). With its KTM, HUSQVARNA Motorcycles, and GASGAS motorcycle brands, it is one of the technology and market leaders in Europe, especially when it comes to premium motorcycles. In addition to vehicles with combustion engines, the product range of the PIERER Mobility Group also includes zero-emission two-wheelers with electric powertrains (in particular e-motorcycles and e-bicycles). As a pioneer in electric mobility of two-wheelers, the group, with its strategic partner Bajaj, has created the basis for assuming a leading global role in the low-voltage range (48 volts). Establishing the (e-)bicycle division with PIERER E-Bikes GmbH was another important move in also stepping up its activities in the area of electric bicycle mobility. The bicycles will be marketed under the HUSQVARNA E-Bicycles, R Raymon, and GASGAS E-Bicycles brands and, from 2022, also under the FELT Bicycles brand in order to gain a share of the attractive market growth in this segment and to develop into a significant international player in this field. Since November 14th 2016, the shares of PIERER Mobility AG have had a primary listing in the International Reporting Standard of the SIX Swiss Ex- change. On March 29th 2017, the shares of PIERER Mobility AG were included in the Swiss Performance Index (SPI) of the SIX Swiss Exchange. Since March 3rd 2020, the shares of PIERER Mobility AG have also been listed on the regulated market of the Frankfurt Stock Exchange (General Standard). As of March 1st 2022, trading has also commenced on the Prime Market of the Vienna Stock Exchange, which means that the shares of PIERER Mo- bility AG are listed in the top segment of the Vienna Stock Exchange. This step is intended to satisfy the great level of interest among investors in Austria and abroad. DEVELOPMENT OF SALES AND REVENUE IN THE 2021 FINANCIAL YEAR Despite supreme challenges in the international supply chains and the risks arising from the COVID-19 pandemic, the PIERER Mobility Group improved its revenue by about 1/3 and achieved record revenue of € 2,041.7 million (previous year: € 1,530 million). With 332,881 motorcycles sold under the KTM, HUSQVARNA and GASGAS brands (previous year: 270,407), PIERER Mobility increased its sales by 23%. This was driven by the high global demand for motorcycles. In addition, the Bicycle Division with its HUSQVARNA, R RAYMON and GASGAS brands achieved sales growth of more than 40%, selling 102,753 bicycles (previous year: 73,277) of which 76,916 were e-bicycles (previous year: 56,064). In Europe, unit sales to dealers were 120,049 motorcycles and 101,437 bicycles. Almost two thirds of the motorcycles (212,832 units) were sold in markets outside Europe, and in particular in North America, India, and Australia. The implementation of the global product strategy and the expansion into further Asian and South American markets were pursued consistently over the past financial year. A similar picture to wholesale is also reflected in the international retail market environment, where the European motorcycle market grew by approxi- mately 8% to 740,000 units. The market share of all three motorcycle brands was therefore 11.5% in 2021. Both the U.S. and Australian markets also performed positively, each recording significant double-digit market share figures of 11.3% and 19.7%, respectively. The Indian motorcycle market as a whole is on a slight upswing (+2%). Bajaj sold around 60,000 KTM and Husqvarna motorcycles in India, resulting in a market share of 7%. The PIERER Mobility Group thus reaffirmed the strong registration figures of the previous year and was able to maintain global registrations at a high level. ACQUISITION OF FELT BICYCLES In the 2021 financial year, the bundling of the operating activities of the Bicycle Division was successfully completed in PIERER E-Bikes GmbH. An im- portant highlight is this segment was the acquisition of the US brand “FELT” in November. FELT Bicycles was founded in 1991 in California, USA, and is known for manufacturing high-performance road, triathlon, track, cyclocross and gravel bikes. FELT bikes have been ridden to stage wins in Grand Tours and earned record-breaking triathlon world championship titles, Olympic gold medals and world championship titles on a variety of different terrains. The process of integrating the Felt brand into PIERER E-Bikes GmbH has already begun. SIMPLIFICATION OF THE OWNERSHIP STRUCTURE WITH BAJAJ The completion of the simplification of the ownership structure between the Pierer Group and the Indian Bajaj Group in Q4 2021 should be seen as an important milestone for the company. As planned, in a first step the Bajaj Group contributed a 46.5% share package in the operating subsidiary KTM AG to Pierer Bajaj AG, the majority shareholder of PIERER Mobility AG held by the Pierer Group. In return, Bajaj received a 49.9% stake in Pierer Bajaj

98 COVID-19 PANDEMIC In the 2021 financial year, there were no significant interruptions to production at the Austrian production sites. However, the occasionally high in- fection rate and the resulting temporary absence of employees posed significant challenges for production and logistics. Due to the high flexibility of employees, an additional expansion of employee numbers and the introduction of additional shifts, these challenges were largely overcome. There was some instability and some delays in international supply chains. The recovery of the global economy led to an increase in demand and bottlenecks in freight containers and therefore a significant increase in freight costs. The risk detection system (revised in the past year) for identi- fying global events with a direct or indirect impact on the supply chain, has been improved in a goal-oriented manner. The proven supply chain from supplier to production sites in Mattighofen and Munderfing is primarily intended to ensure parts availability at economically competitive costs, but also to create a basis for the parties involved as suppliers and customers to establish or expand long-term business relationships. In order to be able to achieve these goals, a wide range of employees from the purchasing, quality management and research & development departments contribute their expertise even before the award of a contract for a new purchased part to a supplier company in a selection process. These proven relationships played a major part in ensuring that the global shortage of resources and bottlenecks in the supply chains had only a minor impact on the business operations of the group. Motorcycle production at our strategic partner Bajaj ran in a largely normal manner and ensured the supply of small-engine KTM and Husqvarna street motorcycles (up to 400 cm³) for the worldwide sales of the PIERER Mobility Group. Relaxation of the national lockdown measures in some countries re- sulted in partial reopening of the global dealer network. The continued high demand for powered two-wheelers has resulted from a significant change in consumer behavior with regard to the use of public transport and an unwillingness to travel. The recovery effects recorded in retail sales continued in the past year in all relevant sales markets. The effects of the outbreak of the COVID-19 pandemic had already been recognized by management at an early stage in 2019. KTM responded in a consistently proactive manner to the COVID-19 crisis in line with national regulations to restrict the spread of the virus and implemented these regu- lations in full. Production in 2021 proceeded continuously and without any direct restrictions due to the COVID-19 pandemic, allowing motorsport and marketing activities to significantly increase once again. The lockdown measures at the end of 2021 had only a minor impact; production was able to continue due to the measures taken and expansion of working from home reduced the number of employees on site and therefore the risk of infection. The supply of spare parts to end customers was guaranteed at all times. Temporary delays in investment and development projects, as occurred in the year before, were avoided in 2021. Liquidity developed in a very pos- itive manner in the course of business. In addition to the issue of a registered bond in the amount of € 30 million in May 2021, liquidity was further strengthened by the taking out of a loan with the European Investment Bank amounting to € 50 million. Aided by the positive development of retail sales and the working capital optimizations established in previous years and pursued consistently since, a free cash flow of € 172.2 million (previous year: € 165.8 million) was generated. Net financial debt was further reduced by € 122.5 million to € 189.9 million (previous year: € 312.4 million). In order to minimize the risk of the COVID-19 pandemic and to ensure that production capacities were kept running, a comprehensive prevention con- cept was developed in 2021. This is guided by and implements the required regulatory measures. Various other precautions were taken to protect the health of employees. These included social distancing rules, regular disinfection of work areas as well as hygiene measures and restrictions on access depending on status as vaccinated, recovered or having recently tested negative. Due to the positive reception of working from home, it was retained on a flexible basis. A wide range of COVID-19 vaccination measures were offered to employees that was maintained continuously over the entire finan- cial year and was in high demand among employees.

100 The e-mobility market has great potential for growth. E-bicycles represent a healthy, sustainable, and individual mode of transport. They are an in- creasingly important component of modern mobility concepts. The popularity of e-bicycles, in particular, is growing dynamically and now encompasses all model groups in the bicycle sector. E-bicycles enable longer distances and higher average speeds, creating new mobility options in urban and rural areas. It is evident that high-quality brand-name products are also gaining ground in the bicycle market. Consumers are proving to be more quality aware and more environmentally aware, which directly results in higher demand on the bicycle market. This has proven to be a trend, especially in terms of data for the German sales market, which, according to recent scientific findings, depends not least on the changing population structure as well as the general level of education, which is becoming more aware of environmental issues. According to reports from the German Two-Wheeler Industry Association (ZIV), 5.04 million units (e-bicycles and non-e-bicycles) were sold in Germany in 2020, a year-on-year increase of +16.9%. With conventional bicycles down by -7.2%, the strong growth was primarily attributable to the e-bicycles segment. In its report on the first half of 2021, ZIV confirms these positive trends for the e-bicycle market, while the forecast decline in the sales figures for bicycles overall is exclusively due to the decline in conventional bicycles. For example, ZIV reports that 1.95 million e-bicycles were sold in Germany in 2020 (2019: 1.36 million). Accordingly, the market share of e-bicycles in 2020 was 38.7% (2019: 31.5%). In the medium term, a market share of 40% to 50% of the total bicycle market in Germany is forecast for e-bicycles. Similarly, a trend study by the auditing and consulting firm PwC indicates that the bicycle market will grow globally at an average rate of approx. 5.5% annually in the years ahead. This development is largely driven by the strong growth in the sales figures for e-bicycles (7.4% per annum according to the study). According to the study, the greatest potential for growth lies in the East Asian as well as the European and North American markets, with an estimated sales volume of approximately 210.4 million bicycles (e-bicycles and non-e-bicycles; estimated value of the sales volume: approximately EUR 80 billion) sold worldwide in 2025. 3 . F I N A N C I A L P E R F O R M A N C E I N D I C AT O R S KEY FINANCIAL PERFORMANCE INDICATORS: EARNINGS RATIOS Revenue EBITDA EBITDA margin Result from operating activities (EBIT) EBIT margin OTHER FINANCIAL FIGURES: EARNINGS RATIOS Earnings after taxes Earnings after minorities BALANCE SHEET RATIONS Balance sheet total Equity Equity ratio Working capital employed 1) Net debt 2) Gearing 3) in € million in € million in % in € million in % in € million in € million in € million in € million in % in € million in € million in % 2020 1,530.4 233.5 15.3% 107.2 7.0% 2021 CHANGE IN % 2,041.7 332.2 16.3% 193.5 9.5% 33.4% 42.3% 80.5% 2020 69.5 34.9 2021 CHANGE IN % 142.9 82.5 >100.0% >100.0% 12/31/2020 12/31/2021 CHANGE IN % 1,686.0 2,033.7 654.1 38.8% 181.5 312.4 47.8% 765.6 37.6% 160.5 189.9 24.8% 20.6% 17.0% -11.6% -39.2%

102 The sales figures for PTWs – motorcycles of the KTM, Husqvarna Motorcycles, and GASGAS brands as well as e-bicycles (excluding non-e-bicycles) – are distributed as follows: Sales 2020 PTWs (units) 326,471 KTM Husqvarna Motorcycles GASGAS E-Bicycles Sales 2021 PTWs (units) 409,797 212,713 49,046 8,648 56,064 249,290 60,801 22,790 76,916 The two segments “Motorcycles” and “E-Bicycles” represent the main operational areas of the PIERER Mobility Group, the development of which is discussed below. MOTORCYCLES The revenue drops recorded in 2020 owing to interruptions to production caused by the COVID pandemic were compensated for in the 2021 financial year and total revenue was significantly increased. In the KTM group, revenue of € 1,876.4 million was achieved in the past financial year (previous year: € 1,414.0 million), which corresponds to an increase in revenue of 32.7%. KTM achieved EBITDA of € 325.2 million in the 2021 financial year (+44.1% compared to the previous year) and EBIT of € 192.8 million (+83.1% compared to the previous year). This corresponds to an EBITDA margin of 17.3% (previous year: 16.0%) and an EBIT margin of 10.3% (previous year: 7.4%). The net result after tax was € 146.1 million (previous year: € 71.2 million). In North America, KTM recorded revenue growth of 24.8% to € 466.1 million. This meant that 24.8% of revenue was generated in North America (pre- vious year: 26.4%). In Europe, revenue increased by 29.1% to € 980.8 million compared to the previous year, which corresponds to a share of 52.3% (previous year: 53.7%). Revenue also increased in other countries by 52.9% to € 429.4 million compared to the previous year. The share of revenue generated in other countries was 22.9% (previous year: 19.9%). With 249,290 KTM motorcycles sold, 60,801 HUSQVARNA motorcycles sold and 22,790 GASGAS motorcycles sold in the 2021 financial year, the KTM group sold a total of 332,881 motorcycles (+23.1% year-on-year; taking into account the motorcycles sold in India and Indonesia by partner Bajaj), thereby consolidating its presence in the key motorcycle sales markets with its three motorcycle brands. In the European sales regions, unit sales were 120,049 motorcycles (+23.3%). Significant growth was also recorded by the North American sales subsidiary with 65,792 motorcycles sold (+24.6%), and in Australia sales increased by 25.7% to 20,811. The strongest growth potential was seen in South America (+62.5%) with 32,562 and in Asia (+55.8%) with 29,847 motorcycles sold. UNIT SALES BY REGIONS FY 2021 36.1% Europe 19.8% North America (incl. Mexico) 18.1% Indien / Indonesia (by Bajaj) 26.0% remaining global region REVENUE BY REGIONS FY 2021 52.3% Europe 24.8% North America (incl. Mexico) 22.9% remaining global region

104 STATEMENT OF FINANCIAL POSITION ANALYSIS The balance sheet structure of the PIERER Mobility Group is as follows: Non-current assets Current assets Assets Equity Non-current liabilities Current liabilities Equity and liabilities 2020 2021 € million in % € million in % 942.0 744.0 1,686.0 654.1 581.4 450.5 1,686.0 55.9% 44.1% 100.0% 38.8% 34.5% 26.7% 100.0% 992.8 1,040.9 2,033.7 765.6 649.5 618.7 2,033.7 48.8% 51.2% 100.0% 37.6% 31.9% 30.4% 100.0% The balance sheet total of the PIERER Mobility Group increased by 20.6% from € 1,686.0 million to € 2,033.7 million as of December 31st 2021 com- pared to the consolidated financial statements as of December 31st 2020. Non-current assets increased from € 942.0 million to € 992.8 million in 2021, representing an increase of € 50.8 million or 5.4%. The increase was largely due to the level of investment being higher than depreciation and amortization, especially in the area of development projects, and the re- sulting increase in intangible assets. Within current assets, cash in particular increased by € 155.2 million and stock by € 106.4 million. This was due in particular to the build-up of stock of unfinished products, raw materials and supplies. Overall, this resulted in a significant increase in current assets of 39.9% to € 1,040.9 million. Current liabilities increased by € 168.2 million to € 618.7 million (+37.3%) in the past financial year. The increase is mainly due to the increase in trade payables amounting to € 133.5 million. Other increases related, among other things, to sales bonuses and employee benefits. Non-current liabilities increased by 11.7% to € 649.5 million, largely as a result of borrowings. In May 2021, KTM AG issued registered bonds with a term of 12 years at a nominal value of € 30 million. In addition, a loan of € 50 million was taken out from the European Investment Bank in December 2021. Equity increased by € 111.4 million to € 765.6 million in the 2021 financial year. On the one hand, equity was boosted by the pleasing net result after tax of € 142.9 million and the sale of treasury shares amounting to € 13.6 million. On the other hand, dividend payments amounting to € 24.4 million and the acquisition of shares in subsidiaries (increase in shares in KTM AG and KTM Technologies GmbH) totaling € 30.5 million led to a reduction in equity. The other effects mainly related to the recognition in equity of foreign currency differences, the valuation of financial instruments and the re- valuation of the net defined benefit liability. At 37.6%, the equity ratio reported as of December 31st 2021 was lower than the previous year’s figure of 38.8% due to the increase in the balance sheet total described above. LIQUIDITY ANALYSIS Cash flow from operating activities amounted to € 367.4 million in the 2021 financial year, which was up 17.5% on the previous year’s figure of € 312.8 million, and this was mainly attributable to the positive operating earnings development (EBITDA +€ 98.7 million compared to the same period in the previous year). The cash outflow from investments amounted to € -195.1 million and was significantly higher overall than the previous year’s figure of € -147.0 million. This increase was mainly due to the higher payments for the acquisition of intangible assets and property, plant and equipment (effect € -34.1 million). Due to the excellent result and the low working capital level, a strong free cash flow of € 172.2 million was generated, corresponding to 8.4% of ‘rev- enue. Free cash flow increased by a total of € 6.4 million compared to the same period in the previous year.

106 5. RE S E A R C H & D E V E L O P M E N T A N D N E W M O D E L S PIERER Mobility AG intends to continue to expand its pioneering role in relation to technology, sales and image, especially in the motorcycle world. We have been particularly focused on the area of research and development for several years. The result of the R&D strategy we have pursued is innova- tive products, which meet our customers’ high expectations in technology and performance. Thanks to the globally active research and development organization, the PIERER Mobility Group has a network of highly qualified employees – for instance in the construction, computation and simulation sectors. This network is supported by the in-house machinery and equipment that performs the production, construction and validation of newly de- veloped prototypes. Research and development expenses (before capitalization of development services) in the PIERER Mobility Group in the 2021 financial year amounted to € 162.4 million (previous year: € 137.7 million), which corresponds to 8.0% (previous year: 9.0%) of revenue. The products of all group companies operate at a very demanding performance level, which is why customers demand ongoing development and evolution. In the research and development department, the PIERER Mobility Group had as of December 31 in the 2021 financial year 976 employees (previous year: 808 employees), which corre- sponds to 18.6% of the total workforce. Around 6.4% of total revenue was invested in research and development (-0.8 percentage points compared to the previous year). The research and development department is a global organization, with decentralized locations in Europe (in particular Austria and Spain), America and Colombia. The development programs are managed centrally at the research and development headquarters of KTM AG in Mattighofen and Mun- derfing. A large proportion of the employees from the research and development department are located here over a floor space of more than 20,000 m². Focusing on the power range from 250 W to 11 kW, the group is taking the next steps to intensify research & development (R&D) in the field of electric mobility and is pressing ahead at full speed in pursuing its vision to become the global leader in the field of electrically powered two-wheelers (PTW). For example, in the reporting year all R&D activities were combined and expanded further into their own research and development company – KTM Forschungs & Entwicklungs GmbH (KTM F&E GmbH) – which will ensure that KTM is always able to keep up with the ever-increasing pace of technological development. A special focus of the past year was making the move to the newly developed R&D location in Anif near Salzburg, which, in addition to the E-drive development division within F&E GmbH, also provides KTM Technologies GmbH with space for further growth. The investment volume for the 7,780 m² e-mobility center of expertise is EUR 20 million. The state-of-the-art facility provides space for more than 150 employees and is located right next to the KISKA design studio in Anif near Salzburg, Austria. In 2021, we also made further progress in the development of batteries. KTM participates in a consortium for motorcycles with swappable batteries with Honda Motor, Piaggio Group and Yamaha Motor for motorcycles and light electric vehicles. Over the next three years, the consortium will develop a common technical standard for a battery swap system including the corresponding battery swap stations. The research and development function of PIERER E-Bikes GmbH is organized in decentralized locations across Europe (Austria, Germany, Spain). This facilitates a specific response to the mobility needs of the respective markets, whether this is urban mobility in Munich and Barcelona or the off-road or dual sport community in rural or even alpine areas around Schweinfurt, Salzburg, and Munderfing. MOTORCYCLES In 2021, all three motorcycle brands made a clear statement with innovative upgrades and new models, both in the on-road and off-road segments. One of the most important projects of last year for the street model platforms was the industrialization of KTM’s spearheads in the street model portfolio – the 1290 SUPER ADVENTURE R and S models as well as the 1290 SUPER DUKE RR hyper-naked bike. Now, for the first time, the 2021 generation KTM 1290 SUPER ADVENTURE S comes with innovative adaptive cruise control as standard. It was developed thanks to intensive research side-by-side with Bosch. It automatically maintains an appropriate distance to other road users in front of the motorcycle using radar sensors and can be set at five levels via the redesigned combination switch. Further highlights include the series production of the KTM RC generation in the Supersport segment, the series ramp-up of the HUSQVARNA Norden 901 and the ramp-up of the KTM 1290 SUPER DUKE R and KTM 1290 SUPER DUKE GT models, which incorporate extensive updates. The starting point was the KTM 890 DUKE model derivative, based on the two-cylinder mid-class platform, which had its series launch before the start of the motorcycle season in February 2021. The 890 DUKE adds the finishing touch to KTM’s naked bike range, offering a direct successor to the extremely popular

108 frame designs and technical innovations, which is represented above all by the brand new Mountain Cross 6 (MC 6). The MC 6 proves that Husqvarna E-Bicycles takes kinematics, design, and technology seriously and is aimed at a new generation of riders. Together with Husqvarna Motorcycles, Husqvarna E-Bicycles also presented its fleet of urban mobility vehicles, and the group positioned itself on this basis at the IAA Mobility 2021 in Munich as a holistic, zero-emission manufacturer of motorized two-wheelers. In January 2022, HUSQVARNA E-Bicycles also presented the ‘Legacy Edition’, an upgraded edition of the Mountain Cross 5 with an updated design. In 2021, GASGAS Bicycles presented the Enduro Cross 9.0 as the top model. It combines the well-known robust aluminum frame, shaped in enduro geometry, with a Rock Shox ZEB 160 fork and a Rock Shox SDS+ shock absorber, as well as wheels in the 29” front and 27.5” rear formats for perfect handling and excellent agility. With its SRAM SX Eagle 12-speed drive, 4-piston Tektro brakes, a Yamaha PW-X2 motor with an advanced Quad Sensor System, 250 W power, and an integrated 630 Wh battery in the down tube, it embodies everything the GASGAS Bicycles brand represents. In 2021, R RAYMON introduced its claim “Ride here. Ride now.” that expresses the brand’s attributes of growth and spirit. A typical example of this is the all-round TourRay E 5.0 with a sporty Yamaha PWST drive with 60 Nm of torque and the semi-integrated Yamaha battery with 500 Wh. The trekking power of the TourRay made it the absolute best seller in the e-bike range of 2021. With its 27.5” inch wheels, disc brakes, and an SR Suntour suspension fork with 75 millimeters of suspension travel, the TourRay E 5.0 offers plenty of comfort and traction on all types of terrain. In 2022, R RAYMON will once again expand its portfolio and enter the market of light e-mountain bikes. With the AirRay, R RAYMON will change perceptions – it combines the typical fun of a trail bike with solid performance and an ideal battery capacity. The highest torque motors and highest battery capacities were deliberately not selected for these three models. Instead, the focus was on achieving a balance between the three pillars of motor, battery, and weight. Equipped with the AIR DRIVE motor powered by Yamaha (50 Nm torque), a slim 2.8 kg carbon fiber frame, agile handling and riding dynamics at the highest level, the lightweight e-mountain bike R RAYMON AirRay 29” weighs less than 20 kilograms with a suspension travel of a full 150 mm. Further innovations can be expected in the coming year, which will include new frame platforms and concepts, while at the same time R RAYMON in- tends to establish itself more firmly in the sports segment. 6 . O P P O R T U N I T I E S A N D RI S K RE P O R T As Europe’s leading “Powered Two-Wheeler” (PTW) manufacturer, the PIERER Mobility Group with its KTM, HUSQVARNA Motorcycles, and GASGAS motorcycle brands is among the European technology and market leaders. The business activities of the PIERER Mobility Group are characterized by ongoing changes. Exploiting the opportunities that these changes present is the essential cornerstone of the success of the PIERER Mobility Group. In order to secure the future success of the business and exploit the opportunities that arise, the group must consciously take risks. The management of opportunities and risks is the basis for responding appropriately to changes in the underlying political, economic, technical or legal conditions. Where it is likely that the opportunities or risks identified will occur, they have already been incorporated into the statements made in the notes to the consolidated financial statements and the group management report. The following statements include possible future developments or events that could lead to a positive (opportunities) or negative (risks) deviation from the company forecast for the PIERER Mobility Group. As part of risk management, all individual and cumulative risks that could jeopardize the success of the company are monitored and controlled. Risks that could jeopardize the company as a going concern are generally avoided. The scope of risk consolidation corresponds to the scope of consolidation of the consolidated financial statements of the PIERER Mobility Group. RISK MANAGEMENT SYSTEM The main purpose of the PIERER Mobility Group’s risk management system is to safeguard and strengthen the company by correctly and transparently assessing financial, operational and strategic risks. In this context, the Executive Board, together with the management of the main group companies, in particular KTM AG, performs extensive management and controlling tasks within the framework of an internal, integrated control system that covers all major sites. Recognizing, evaluating and responding to strategic and operational risks promptly is an essential part of the management activities of these units and adds significant value to the company. The basis for this is a uniform, group-wide reporting system established on a monthly basis, and ongoing monitoring of operational and strategic plans. The PIERER Mobility Group has a multi-level risk management system in which group-wide risks are identified by location or geographical area. Oper- ational responsibility and the assessment of group-wide risks is carried out by the risk management of KTM AG and local management and is reported directly to and monitored by the Executive Board and the Group Executive Board.

110 ASSESSMENT METHODOLOGY Opportunities and individual risks are assessed on the basis of their likelihood of occurrence and their significance for the net assets, financial posi- tion and earnings position of the group. This assessment is based on information about a) risks that have actually occurred in the past, b) benchmark values from the industry or c) realistic expert estimates prepared by the group itself. The quantitative assessment follows a scenario-based approach, distinguishing between the following categories: Best Case (BC), Most Likely Case (MLC), and Worst Case (WC). This is a classic triangular distribution. For isolated risks, a qualitative assessment can additionally be used, if neces- sary, or alternative distributions (normal distribution, etc.) can be used for fluctuating risks. The choice of the respective distribution depends on the type of risk. RISK MONITORING / CONTROL The essence of operational risk management is to identify, evaluate and control significant risks arising from operations. This process is carried out in particular by the senior and middle management levels of KTM AG and monitored by the Executive Board of PIERER Mobility AG. OPPORTUNITIES AND RISK REPORT The following overview provides a general summary of all identified risks and opportunities and highlights their significance for the PIERER Mobility Group. Overall, the PIERER Mobility Group has not identified any risks that could jeopardize its continued existence as a going concern, neither on the reporting date nor at the time that the financial statements were prepared. MARKET RISKS Cyclical risk The KTM group operates primarily in the motorcycle sector and the PIERER E-Bikes Group in the bicycle sector. Sales opportunities are determined by the general economic situation in the countries and regions in which the PIERER Mobility Group is represented with its products. As recent years have shown, the motorcycle sector in particular is cyclical and subject to large fluctuations regarding demand. This risk is counteracted by relevant market research and market forecasts, which are then taken into account in the planning process. Due to the change in mobility behavior, the global motor- cycle market continues to grow, in particular in the most important sales regions year-on-year. Competition and pricing pressure Competition on the motorcycle market in industrialized countries is particularly intense; KTM’s strongest competitors are four Japanese and three Eu- ropean manufacturers and, on a slightly smaller scale, a U.S. manufacturer, some of which have greater financial resources, higher sales figures and market shares. Price pressure in the street motorcycle market is very high, and new competitors are trying to enter the market using low-price strate- gies. Thanks to its successful market strategy, KTM is Europe’s leading manufacturer of powered two-wheel vehicles. The full integration of GASGAS as the third motorcycle brand and the further development of the dealer network has also contributed to this. Thanks to our innovative strength, we see ourselves as the technology leader in the two-wheeler sector in Europe. The strategic partnership with Bajaj, India’s second-largest motorcycle manufacturer, consolidates our competitiveness in global markets. Sales risk The largest individual sales markets of the PIERER Mobility Group are the European market and the U.S. market. A slump in these markets could have a negative impact on business activities. Entering new markets involves a major cost risk as, in some of these markets, the trend of sales as well as the geopolitical conditions are difficult to assess. By collaborating with its strategic partner Bajaj Auto Ltd., Pune, India, the company is working steadily toward implementing a global product strategy in the motorcycle sector. In order to diversify the sales risk, the Bicycle Division is also pur- suing the goal of expanding successfully in other markets.

112 Research and development, racing Technical innovations and the introduction of new products are largely responsible for the PIERER Mobility Group’s position in the market. To this end, new trends must be identified promptly. To counteract the risk, our own products’ innovative capacity must be ensured. Racing achievements are not only an important marketing instrument for the company but also form the basis for product development and set standards for series development. Valuable experience is gathered whenever products can be tested in racing conditions at racing events. Before being introduced into series production, all technical innovations are moreover subjected to comprehensive testing by the quality management system so as to eliminate, to the greatest extent possible, any technical defects that could have a negative effect on earnings development. In order to further expand our role as a technological pioneer and also to keep pace with major competitors, the PIERER Mobility Group pursues a very intensive research and development strategy. This also explains the relatively high research-spending ratio – currently around 8-9% of revenue. IT RISKS The PIERER Mobility Group has implemented an IT security and risk management system for the purpose of identifying and managing company-rel- evant risks in the area of information security. For further information on IT risks, please refer to the notes to the consolidated financial statements (Chapter VII) of PIERER Mobility AG. FINANCIAL RISKS For further information on the risk report and on financial instruments, including the specific measures to mitigate risks through the use of financial instruments (e.g. hedging of foreign currency positions with futures, swaps, etc.), please refer to the notes to the consolidated financial statements (Chapters VII and VIII) of PIERER Mobility AG. OTHER RISKS Risks due to the legal framework As the PIERER Mobility Group distributes motorcycles and e-bicycles or non-e-bicycles to a large number of countries through its stakes in the KTM group and PIERER E-Bikes Group, it is exposed to the risk of changes in national regulations, terms of licenses, taxes, trade restrictions, prices, income and foreign exchange restrictions, as well as the risk of political, social and economic instability, and inflation and interest rate fluctuations. Motorcycles registered for road use must comply with corresponding provisions concerning noise and exhaust gas emissions in order to be approved for marketing in the respective country. The possible offroad uses of motorcycles are also considerably influenced by the national legal framework in the countries where the vehicles are sold. In order to counteract the risk and to be able to act promptly in the event of changes in national legal frame- works, the respective country-specific regulations are thoroughly reviewed and monitored on an ongoing basis prior to market entry. Business and environmental risk Environmental risks may relate to products, production, procurement and non-operating factors. With regard to the products, risks arise in relation to emissions such as noise and pollutants or the leakage of harmful substances such as fuel or oil. In order to minimize these risks that may be caused by potential malfunctions, the homologation requirements are strictly observed in addition to other measures, each vehicle tested for its functionality and compliance with all limit values on our own test benches, and a laboratory is in operation to test the interaction of materials used with people and the environment. In addition, the development of emission-free alternative drive systems and products is becoming an increasingly important focus. In production, environmental risks arise due to the potential leakage of substances, waste and material residues on the premises. Numerous measures are implemented to prevent them. These include waste management concepts, an engine oil treatment plant, emergency plans for each site and pro- fessional extraction systems for metal chips that deposit them in the container provided for this purpose. Emissions from operating the test benches are also caught by extraction systems. Environmental risks in procurement may result from the environment-related shortage and rising prices of resources, cooperation with suppliers that do not operate with sufficient environmental measures, and emissions from delivery routes. In order to minimize these risks, measures are taken that include auditing suppliers, optimizing procurement channels, prioritizing regional procurement, and the use of resource-saving, modern production technology.

114 3. To the company’s knowledge, as of December 31st 2021, the following direct or indirect equity holding in the capital of PIERER Mobility AG amounting to at least 10 percent existed: Pierer Bajaj AG (formerly: PTW Holding AG): 73.32% (direct equity holding); Pierer Industrie AG: 73.32% (indirect equity holding); Pierer Konzerngesellschaft mbH (direct and indirect equity holding): 2.58% (direct equity holding) and 73.32% (indirect equity holding). 4. There are no shares with special control rights. 5. There are currently no employee participation models. 6. There are no provisions going beyond the law with regard to the appointment and dismissal of members of the Executive Board and Supervisory Board and amendments to the articles of association. 7. Options to issue or buy back shares: The following resolutions were adopted at the Annual General Meeting on April 27th 2017: a) To authorize the Executive Board, with the approval of the Supervisory Board, to issue financial instruments within the meaning of Section 174 of the Austrian Stock Corporation Act (AktG), in particular convertible bonds, income bonds and profit participation rights, with a total nominal value of EUR 150,000,000.00 until April 1st 2022, which may also grant subscription and/or conversion rights to acquire a total of up to 25,000,000 shares in the company and/or are structured in such a way that they can be reported as equity, also in several tranches and in different combinations. b) The Executive Board may use the conditional capital and/or treasury shares to service the conversion and/or subscription rights. c) The issue price and terms of issue of the financial instruments shall be determined by the Executive Board with the approval of the Supervisory Board, whereby the issue price shall be determined in accordance with recognized methods of financial mathematics and the price of the shares of the company in a recognized pricing procedure. d) The Executive Board is authorized, with the approval of the Supervisory Board, to exclude shareholders’ subscription rights to financial instru- ments within the meaning of Section 174 of the Austrian Stock Corporation Act (AktG). e) The conditional increase of the share capital of the company pursuant to Section 159 para. 2 no. 1 of the Austrian Stock Corporation Act (AktG) by up to EUR 25,000,000.00 by issuing up to 25,000,000 no-par-value ordinary bearer shares for issuance to creditors of financial instruments pursuant to Section 174 of the Austrian Stock Corporation Act (AktG), which are issued by the company using the authorization granted in this Annual General Meeting, to the extent that the creditors of the financial instruments exercise their conversion and/or subscription rights to shares in the company. The issue amount and the exchange ratio are to be determined in accordance with recognized methods of financial mathematics and the share price in a recognized pricing procedure. The newly issued shares of the conditional capital increase are entitled to dividends to the same extent as the existing shares in the company. The Executive Board is authorized, with the approval of the Supervisory Board, to determine the further details of the implementation of the conditional capital increase. The Supervisory Board is authorized to resolve amendments to the articles of association resulting from the issue of shares from the conditional capital. f) Pursuant to Section 65 para. 1 no. 8 and para. 1a and 1b of the Austrian Stock Corporation Act (AktG), the Executive Board is authorized to ac- quire no-par-value bearer shares of the company representing up to 10% of the share capital of the company for a period of 30 months from the date of the resolution, both on and off the stock exchange, whereby the lowest price may not be more than 20% below and the highest price may not be more than 10% above the average closing price on the last three trading days prior to the acquisition of the shares. Trading in treasury shares is excluded as a purpose of the acquisition. The authorization may be exercised in whole or in part or in several installments and in pur- suit of one or more purposes by the company, by subsidiaries or by third parties for the account of the company. g) The Executive Board may decide to acquire shares on the stock exchange, but the Supervisory Board must be informed of this decision after- ward. Off-market acquisitions are subject to the prior approval of the Supervisory Board.

116 9. There are no compensation agreements between the company and its Executive Board and Supervisory Board members or employees in the event of a public takeover bid. 8 . M A I N F E AT U RE S O F T H E I N T E R N A L C O N T R O L S Y S T E M S EC T I O N 24 3 A ( 2) O F T H E A U S T RI A N C O M M E R C I A L C O D E ( U G B) The internal control system of the PIERER Mobility Group has the task of ensuring the correctness and reliability of financial reporting, compliance with the legal and internal regulations applicable to the company, as well as the effectiveness and efficiency of operating activity, including the pro- tection of assets from losses caused by damages and malversations. Internationally recognized frameworks for internal control systems (e.g. COSO framework) were taken into account in designing the elements of the internal control system. The system includes: Group-wide specifications for financial reporting Segregation of duties as an organizational measure System-based and process-dependent controls Process-independent controls The PIERER Mobility Group is committed to the continuous development and improvement of the internal control system. To this end, its functionality is regularly monitored through process and data analyses as well as independent, external audit activities. The main features of the internal control system with regard to the financial reporting process are presented below. CONTROL ENVIRONMENT The organizational structure of the PIERER Mobility Group forms the basis for the control environment and the internal control system within the company. In terms of the organizational structure in (group) financial reporting, there are clear areas of competence and responsibility at the various management and hierarchical levels of the group. On the one hand, this relates to the group headquarters in Wels as well as the Austrian and all in- ternational subsidiaries. Treasury and Business Process Finance are located in the operating areas of the group, with duties and responsibilities also being clearly divided here. The strong international orientation of the PIERER Mobility Group and the associated decentralized structures of the company and different sites are taken into account by centralizing key corporate functions in the area of financial reporting at the Austrian sites (especially in Mattighofen). The per- formance and management of national business activities is the responsibility of the respective local management and is monitored by the Executive Board of KTM AG and the Group Executive Board. In terms of process organization, the PIERER Mobility Group relies on a distinctive and comprehensive set of accounting, valuation and account assignment rules. This provides an appropriate basis for a strong control environment and control system. New accounting standards are assessed with regard to their impact on the financial reporting of the PIERER Mobility Group. The specifications for financial reporting and financial reporting processes are reviewed on an ongoing basis and adjusted at least annually, or more frequently if necessary. Monitoring compliance with the controls and regulations relating to financial reporting is the responsibility of the relevant management. RISK ASSESSMENT Risks relating to the financial reporting process are identified and monitored by management. The focus is placed on those risks that are typically to be regarded as material. Material risks in the area of financial reporting include incomplete recording of facts relevant to accounting, errors in document recording, and incor- rect calculations. Complex accounting principles could lead to an increased risk of error, incorrect reporting, and late preparation of financial state- ments. There is also a risk of data being accessed by unauthorized persons or of data being manipulated, IT systems failing, and data being lost. For the preparation of the financial statements, estimates have to be made on a regular basis and there is an inherent risk that future developments may deviate from these estimates. This applies in particular to the following matters/items in the consolidated financial statements: Social capital,

118 9. O U T L O O K For the 2022 financial year, the Executive Board anticipates renewed growth both for motorcycles and bicycles with earnings within the long-term range. However, challenges in the international supply chains must continue to be expected in 2022, as capacity and supply bottlenecks at individual suppliers and in international transport logistics may lead to delays with deliveries. Wide-ranging measures in the area of supply chain management and a high degree of flexibility in production planning are aimed at identifying and minimizing negative effects in good time. The expected challenges and their consequences are to be mitigated by the supplier risk assessment, which was revised last year, as well as the program implemented to provide advance warning of global events that directly or indirectly affect the supply chain. On the sales side, PIERER Mobility continues to view the market as consistently positive. Growth is expected to be driven primarily by the continued high global demand and the megatrend toward two- wheelers as well as increasing numbers of electric vehicles, especially in urban areas. In line with the strategic objective of contributing to emissions reduction and emissions neutrality for motorcycles, the focus of development work in the years to come will increasingly be on alternative drive systems in the range up to 15 kW. In the range above this, efforts will focus on the tech- nological advancement of conventional forms of propulsion with synthetic fuels for avoiding CO2. The main goal is to fully exploit the innovation and development potential in the area of electric mobility and to help shape the growing market and secure market share with e-fuel-powered combustion engines as a global player with strong brands. At least three electric platforms with multiple products will be launched by 2024. While the focus in 2021 in the Bicycle Division was primarily on broadening the establishment of the Husqvarna E-Bicycles and R RAYMON brands in European markets and expanding the network of dealers in the core markets of Germany, Austria and Switzerland (DACH), the acquisition of the FELT brand opens up a new range of product, sales and development opportunities. With FELT, the existing range of bicycles has been expanded, in particular by adding the racing division, and this will provide a stronger opening as well as positioning on the North American market for all bicycle products. In addition to the DACH region, the North American market offers enormous growth and sales potential for the sale of e-bicycles. In addi- tion, further expansion stages are to focus on the overseas market of Australia as well as Southern Europe. The dynamic growth trajectory will also be further advanced by adding the GASGAS brand to the e-bicycle product range and expanding e-bicycle sales in the existing motorcycle trade. In the 2022 financial year, the PIERER Mobility Group will continue to focus on growth in all core areas, both motorcycles and (e-)bicycles, despite the challenges that exist in the supply chain. The Executive Board anticipates revenue growth of between 6% and 10% (2021 financial year: EUR 2,041.7 million) with an EBIT margin of 8 to 10% and an EBITDA margin of between 15 and 17%. In addition, PIERER Mobility AG listed its shares in the official trading (prime market segment) of the Vienna Stock Exchange. The admission to trading on the prime market, the top segment of the Vienna Stock Exchange, took place on March 1st 2022. In addition, it is also important to keep a closer eye on geopolitical risks. In particular, the military conflicts in Ukraine will have a negative impact on the global economy. The exchange rate environment is expected to remain volatile in the regions important to PIERER Mobility. Wels, March 11th 2022 The Executive Board of PIERER Mobility AG Stefan Pierer Friedrich Roithner Hubert Trunkenpolz Viktor Sigl, MBA

120 C O N S O L I D AT E D S TAT E M E N T O F F I N A N C I A L P O S I T I O N A S AT D EC E M B E R 31, 2 0 21 EURk Assets: Non-current assets: Goodwill Intangible assets Property, plant, and equipment Investments accounted for using the equity method Deferred tax assets Other non-current assets Current assets: Inventories Trade receivables Receivables and other assets Tax refund claims Cash and cash equivalents Notes No. 12/31/2021 12/31/2020 21 22 23 24 25 26 27 28 29 30 130,711 473,561 361,330 13,562 9,617 4,033 992,814 405,174 150,861 110,801 560 373,509 1,040,905 2,033,719 131,034 426,835 356,219 13,252 11,518 3,137 941,995 298,744 144,887 81,621 517 218,270 744,039 1,686,034

122 C O N S O L I D AT E D I N C O M E S TAT E M E N T F O R T H E F I N A N C I A L Y E A R F R O M 1 / 1 / 2 0 21 T H R O U G H 12 / 31 / 2 0 21 EURk Revenue Production costs of the services provided to generate the revenue Gross profit from sales Selling and racing expenses Research and development expenses Administration expenses Other operating expenses Other operating income Earnings from at-equity holdings Result from operating activities Interest income Interest expenses Other financial and investment income (expenses) Result before taxes Income taxes Profit or loss for the financial year thereof owners of the parent company thereof non-controlling shareholders Undiluted (=diluted) earnings per share (EUR) Notes No. 2021 2020 8 9 10 11 12 13 14 15 16 16 16 17 18 2,041,730 -1,448,631 593,099 -237,847 -33,330 -128,857 -1,990 744 1,666 193,485 1,864 -12,858 9,097 191,588 -48,716 142,872 82,540 60,332 3.34 1,530,382 -1,103,550 426,832 -192,216 -23,391 -102,645 -164 5 -1,180 107,241 1,629 -15,213 -2,833 90,824 -21,369 69,455 34,911 34,544 1.56

124 C O N S O L I D AT E D S TAT E M E N T O F C A S H F L O W S F O R T H E F I N A N C I A L Y E A R 1 / 1 / 2 0 21 T H R O U G H 12 / 31 / 2 0 21 EURk Operations Profit or loss for the financial year Interest expenses / interest income + (-) + Tax expenses + Depreciation/amortization of property, plant and equipment and intangible assets + (-) Addition (reversal) of non-current liabilities for employee benefits (-) + Profit (loss) from equity consolidation (-) + Profit (loss) from the diposal of fixed assets + (-) Other non-cash expenses (income) + Interest received - Interest payments - Tax payments + Dividends received Gross cash flow - (+) Increase (decrease) in inventories - (+) + (-) Increase (decrease) in trade receivables, advance payments, other current and non-current assets Increase (decrease) in trade payables, advance payments and other current and non-current liabilities Increase (decrease) in the net current assets Notes No. 2021 2020 16 17 22, 23 15 22, 23 VI 142,872 10,994 48,716 138,717 554 -1,666 12,286 -13,284 1,855 -11,954 -31,048 1,022 299,064 -104,641 298 172,642 68,299 69,455 13,584 21,369 126,289 -100 1,180 2,471 5,060 1,621 -14,807 -4,087 606 222,641 17,128 25,618 47,432 90,178 Cash flow from operations 367,363 312,819

126 C O N S O L I D AT E D S TAT E M E N T O F C H A N G E S I N EQ U I T Y EURk Balance as of January 1, 2021 Profit or loss for the financial year Other comprehensive income Total comprehensive income Transactions with shareholders Dividends to third parties Acquisition/disposal of shares to subsidiaries Changes to the scope of consolidation Gains and losses on hedging transactions and hedging costs reclassified to inventories Disposal of own shares Capital measures Miscellaneous Balance as of December 31, 2021 EURk Balance as of January 1, 2020 Profit or loss for the financial year Other comprehensive income Total comprehensive income Transactions with shareholders Dividends to third parties Acquisition/disposal of shares to subsidiaries Changes to the scope of consolidation Gains and losses on hedging transactions and hedging costs reclassified to inventories Acquisition of own shares Disposal of own shares Miscellaneous Balance as of December 31, 2020 Notes No. 31 18, 31 31 7 31 Notes No. 31 31 31 31 31

128 GASGAS Trail Cross 9.0, MY21 © GASGAS/KISKA

130 I . G E N E R A L I N F O R M AT I O N 1. C O M PA N Y I N F O R M AT I O N The PIERER Mobility Group is Europe‘s leading “Powered Two-Wheeler” (PTW) manufacturer with a focus on highly innovative sports motorcycles and electric mobility. With its KTM, HUSQVARNA Motorcycles, and GASGAS motorcycle brands, it is one of the technology and market leaders in Europe, especially when it comes to premium motorcycles. In addition to vehicles with combustion engines, the product range also includes zero-emission two-wheelers with electric powertrains (e-motorcycles, e-bicycles). As a pioneer in electric mobility for two-wheelers, the group, with its strategic partner Bajaj, has created the basis for assuming a leading global role in the low-voltage range (48 volts). Establishing the (e-)bicycle division with PIERER E-Bikes GmbH was another important move in also stepping up its activities in the area of electric bicycle mobility. The bicycles will be marketed under the HUSQVARNA E-Bicycles, R Raymon, GASGAS E-Bicycles and FELT Bicycles brands in order to gain a share of the attractive market growth in this segment and to develop into a significant international player in this field. PIERER Mobility AG has its headquarters at Edisonstraße 1, 4600 Wels, and is registered in the commercial register at the Provincial Court of Wels in its capacity as Commercial Court, under the registration number FN 78112 x. The company is part of the same group as Pierer Konzerngesellschaft mbH, Wels (ultimate parent company of the group) and its affiliated companies, and is included within the consolidated financial statements of that group. These consolidated financial statements are filed with the Provincial Court of Wels in its capacity as Commercial Court under file number FN 134766 k and are the consolidated financial statements for the largest scope of consolidation. The shares of PIERER Mobility AG are listed in the “Swiss Performance Index (SPI)” of the SIX Swiss Exchange in Zurich and since March 3rd 2020 have also been listed in the regulated market of the Frankfurt Stock Exchange. As of March 1st 2022, trading has additionally commenced on the Prime Market of the Vienna Stock Exchange, which means that the shares of PIERER Mobility AG are listed in the top segment of the Vienna Stock Exchange. 2. P RI N C I P L E S O F F I N A N C I A L R E P O R T I N G The consolidated financial statements for the period January 1st to December 31st 2021 were prepared in accordance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and in accordance with the interpretations of the Interna- tional Financial Reporting Interpretations Committee (IFRIC) insofar as they are applied in the European Union. The additional requirements stipulated by Section 245a (1) of the Austrian Commercial Code (UGB) were also met in this context. The companies included in the consolidated financial statements are established on the basis of uniform financial reporting provisions. These provi- sions were applied by all consolidated entities. The companies included in the annual financial statements have prepared their financial statements as of the consolidated balance sheet date of December 31st. The financial statements of all major domestic and foreign companies included in the consolidated financial statements, which are subject to manda- tory auditing in accordance with national regulations, were audited by independent auditors and received an unqualified audit opinion. The figures in the consolidated financial statements are reported in the functional currency of the Group parent, the euro. Unless otherwise specifically indicated, all amounts are rounded to the nearest 1,000 euros (EUR k), which may give rise to rounding differences. The use of automated calculating tools may result in rounding differences with accumulation of rounded figures and with percentages.

132 5 . E S T I M AT E S A N D D I S C R E T I O N A RY D EC I S I O N S In the consolidated financial statements, certain estimates and assumptions must be made that affect the recognized assets and liabilities, the disclosure of contingent liabilities as at the reporting date, and the presentation of income and expenses for the financial year. In making estimates, the Executive Board takes account of empirical values and current forecasts. The amounts actually arising may differ from the estimates if assumed parameters develop contrary to expectations. If new conditions become known, they are duly taken into account and previous assumptions are revised. In particular, assumptions are made to assess the recoverability of goodwill and intangible assets of indeterminate useful life. Goodwill of EUR 130,711k (previous year: EUR 131,034k) was recognized at the reporting date, along with the “KTM” brand, which is valued at EUR 61,103k (previous year: EUR 61,103k), the “GASGAS” brand, which is valued at EUR 13,346k (previous year: EUR 13,346k), and the “FELT” brand, which is valued at EUR 3,707k (previous year: EUR 0k). For further information, see the explanatory notes in Note 21. “Goodwill” and Note 22. “Intangible assets”. Deferred tax assets on tax loss carryforwards not subject to expiration are recognized based on the assumption that sufficient taxable income will be generated in the future to allow them to be utilized. Suitable allowances are made in the event of uncertainties in the assumptions. As of Decem- ber 31st 2021, deferred tax assets for loss carryforwards of EUR 3,077k (previous year: EUR 7,721k) were capitalized. Based on current tax planning, management expects that the loss carryforwards recognized as of December 31st 2021 will be utilized over the next five years. For further details on deferred taxes, see the explanatory notes in Note 25. “Deferred tax assets”. In cash flow hedge accounting, assessments are made regarding the occurrence of future cash flows. These cash flows could occur differently in terms of their amount and timing and therefore have an impact on cash flow hedge accounting. Furthermore, there is some uncertainty as to the estimation for the recognition and measurement of liabilities for employee benefits. Assumptions are made concerning the following factors: Empirical values, demographic assumptions such as the retirement age of women/men and staff turno- ver, as well as financial assumptions such as the discount rate and future wage and salary trends. Liabilities for employee benefits of EUR 28,763k (previous year: EUR 28,665k) were recognized at the reporting date. For further information, see the explanatory notes in Note 33. “Liabilities for employee benefits”. Estimates for provisions mainly relate to provisions relating to guarantees and warranties. To determine the amount of the provisions, a direct correlation was established for each product group between revenues and the guarantee and warranty expenses incurred. The percentage value of guarantee and warranty expenses in terms of revenue is checked several times a year and adjusted if necessary. As at December 31st 2021 provi- sions relating to guarantees and warranties of EUR 20,000k (previous year: EUR 14,612k) were recognized. The determination of the fair values of assets and liabilities acquired as part of a business combination and the useful lives of these assets is based on assessments by the management. Leases Assessments of the term and interest rates are made. Further details are provided under Note 23. “Property, Plant and Equipment” and Note 47. “Leases as lessee”. Estimates are made for inventories in connection with inventory valuation and analysis of coverage. In addition, allowance requirements are record- ed on a case-by-case basis due to long storage periods and limited sales possibilities. The following judgments were made in respect of the application of accounting policies in the PIERER Mobility Group: Development costs Development costs are capitalized in accordance with the accounting policy presented. The initial capitalization of costs is based on management assumptions for assessing the future economic benefit of the expenses incurred and the technical feasibility of the developed product or process, as well as its marketability. Derecognition of receivables in connection with ABS and factoring agreements Evaluations were made with respect to the conditions for derecognition under IFRS 9. For further details, please refer to Section VIII. “Financial instruments and capital management”.

134 US-dollar Swiss franc Japanese yen South African rand Mexican peso Australian dollar Closing rate 12/31/2020 12/31/2021 1.1326 1.0331 130.3800 18.0625 23.1438 1.5615 1.2271 1.0802 126.4900 18.0219 24.4160 1.5896 Average rate 2021 1.1816 1.0799 2020 1.1470 1.0709 130.3200 121.8842 17.5922 24.0516 1.5783 18.9139 24.7300 1.6567 7. C H A N G E S I N T H E S C O P E O F C O N S O L I D AT I O N All subsidiaries under the legal or de facto control of PIERER Mobility AG are included in the consolidated financial statements as of December 31st 2021. The number of companies included in the scope of consolidation changed as follows in the 2021 financial year: Fully consolidated companies At-equity companies Balance as of 12/31/2020 Additions to the scope of consolidation Eliminations from the scope of consolidation Balance as of 12/31/2021 thereof foreign companies 66 5 -4 67 47 4 0 -1 3 2 PIERER Mobility AG, as the parent company of the PIERER Mobility Group, has not been included in this list. The entities included in the consolidated financial statements and their dates of initial consolidation are listed in Section XII. “Group companies (schedule of equity holdings)”. CHANGES IN THE FULLY CONSOLIDATED ENTITIES Additions to the scope of consolidation: In March 2021, KTM Forschungs & Entwicklungs GmbH, with its registered office in Munderfing, was newly established and initially consolidated. In July 2021, PIERER Mobility AG acquired an additional 30.46% of the shares in DealerCenter Digital GmbH, Landshut, Germany. At the time of the sale, PIERER Mobility AG held 45% of the company and now holds a total stake of 75.46% as of December 31st 2021. The shares previously held were included using the equity method. Immediately before control was obtained, the previous shares were remeasured at their fair value. The initial consolidation resulted in an expense of EUR 1,258k, which is reported under other operating expenses. The initial consolidation of the newly established PIERER E-Bikes Benelux, Gembloux, Belgium, took place in November 2021. With effect from November 17th 2021, PIERER E-Bikes GmbH acquired 100% of the shares in FELT GmbH, Munich, Germany. PIERER E-Bikes GmbH, Munderfing, Austria, together with MAXCOM LTD, Plovdiv, Bulgaria, established PIERER & MAXCOM MOBILITY OOD, Plovdiv, Bulgaria, a joint venture that will manufacture bicycles for PIERER E-Bikes GmbH, in December 2021. PIERER E-Bikes GmbH holds 50% of the shares in this company and has a controlling interest within the meaning of IFRS 10. The initial consolidation of PIERER & MAXCOM MOBILITY OOD took place on December 2nd 2021. Net assets of EUR 901k were acquired from all additions to the consolidated group. The net outflow from the acquisitions amounted to EUR -13k.

136 None of the segments has a dependency on external customers within the meaning of IFRS 8.34. Goods and services between the segments are provided on an arm‘s length basis. The segment performance indicator EBIT describes the operating result for the period before the financial result and income taxes. The investments relate to additions to property, plant and equipment and intangible assets (excluding lease additions in accord- ance with IFRS 16). Income accounted for using the equity method is included in EBIT in accordance with the classification of the consolidated income statement. Working capital employed corresponds to the total of stock and trade receivables less trade payables at the reporting date. Net financial debt corresponds to the total of current and non-current financial liabilities (including lease liabilities) less cash at the reporting date. The segment information for the 2021 and 2020 financial year breaks down among the segments described as follows: 2021 EURk Revenues (including revenues within the segments) External revenues Result from operating activities Investments 1) Depreciation and amortization Motorcycles E-Bicycles 1,876,418 1,876,222 192,763 166,652 -132,482 162,719 162,717 7,032 9,859 -4,348 Other Consolidation TOTAL 54,433 2,791 -7,713 1,974 -1,888 -51,840 0 1,403 2,041,730 2,041,730 193,485 0 0 178,485 -138,718 Share in the result of companies accounted for using the equity method 256 0 0 1,410 1,666 Balance sheet total Equity Working Capital Employed Net debt 2020 EURk Revenues (including revenues within the segments) External revenues Result from operating activities Investments 1) Depreciation and amortization 1,891,760 730,894 156,136 -174,517 Motorcycles 1,413,978 1,413,959 105,304 147,949 -120,357 110,409 40,623 -4,904 6,589 E-Bicycles 112,497 112,424 2,216 1,513 -4,333 362,274 306,513 7,743 -22,806 -330,724 -312,479 1,479 857 2,033,719 765,551 160,454 -189,877 Other Consolidation TOTAL 36,141 3,999 -179 718 -1,599 -32,234 0 -100 1,530,382 1,530,382 107,241 0 0 150,180 -126,289 Share in the result of companies accounted for using the equity method -1,359 0 0 179 -1,180 Balance sheet total Equity Working Capital Employed Net debt 1,561,592 634,969 173,982 -281,786 102,505 32,810 4,299 -3,347 296,378 246,213 -460 -34,738 -274,441 -259,873 3,711 7,458 1,686,034 654,119 181,532 -312,413 1) Excluding IFRS 16 (Leases); lease additions amounted to EUR 24,626k in 2021 (previous year: EUR 19,484k)

138 10. S E L L I N G A N D R A C I N G E X P E N S E S The group‘s selling and racing expenses are made up as follows: EURk Cost of materials and purchased services Personnel expenses Depreciation/amortization of property, plant and equipment and other intangible assets Other operating expenses Sponsorship money and other operating income 11. R E S E A R C H A N D D E V E L O P M E N T E X P E N S E S The group‘s research and development expenses are made up as follows: EURk Cost of materials and purchased services Personnel expenses Depreciation/amortization of property, plant and equipment and other intangible assets Other operating expenses Subsidies and other operating income 2021 2020 39,737 95,017 13,537 130,136 -40,580 237,847 33,291 73,282 10,188 106,633 -31,178 192,216 2021 2020 8,534 29,210 8,420 3,384 -16,218 33,330 4,432 24,238 8,008 966 -14,253 23,391 Expenses disclosed under research and development expenses comprise research costs and non-capitalizable development costs. Personnel expenses before the effects of capitalizing development costs were EUR 77,374k (previous year: EUR 61,614k). In total, research and development expenses (before capitalized development costs) amounted to EUR 162,361k (previous year: EUR 137,713k) and thus 8.0% (previous year: 9.0%) of revenue. 12. A D M I N I S T R AT I V E E X P E N S E S The group‘s administrate expenses are made up as follows: EURk Cost of materials and purchased services Personnel expenses Depreciation/amortization of property, plant and equipment and other intangible assets Other operating expenses Other operating income 2021 2020 3,300 52,082 28,891 46,572 -1,988 128,857 1,571 45,911 29,026 28,199 -2,062 102,645

140 The group‘s other financial and investment income is made up as follows: EURk Foreign exchange valuation of bank deposits Cost of hedging Valuation interest swap Impairment of non-current financial assets Gain / Loss from the disposal of non-consolidated subsidiaries 17. I N C O M E TA X E S The group’s income tax expense and income are attributable to current taxes and deferred taxes as follows: EURk Current tax Deferred tax 2021 8,652 71 365 0 9 9,097 2020 -2,158 83 -262 -494 -2 -2,833 2021 2020 -34,933 -13,783 -48,716 -11,824 -9,545 -21,369 Income taxes comprise taxes on income and earnings payable in each country as well as deferred taxes. The Austrian companies of the PIERER Mobil- ity Group are subject to a corporate income tax rate of 25.0%. The calculation of foreign income taxes is based on the laws and regulations that are in force or have been adopted in the individual countries. The income tax rates applicable to foreign entities vary from 9.0% to 37.8%. A reconciliation between the expected tax expense for the financial year (application of the group tax rate of 25.0% to earnings before taxes) and the actual tax expense recognized can be presented as follows: EURk Profit before income taxes Expected tax expenses / income Non-temporary differences and other tax additions Recognition / allowances / utilization of loss carryforwards Non-taxable results in consequence of consolidation changes Taxes in relation to prior periods Effects of foreign tax rates Earnings from equity holdings Investment benefits Miscellaneous 2021 2020 191,588 -47,897 -3,935 211 -776 -1,081 -408 488 3,850 832 -48,716 90,824 -22,706 -93 -4 -163 -1,058 -827 -219 3,932 -231 -21,369

142 V. N O T E S T O T H E C O N S O L I D AT E D S TAT E M E N T O F F I N A N CI A L P O S I T I O N 21. G O O D W I L L In accordance with IAS 36.99, the detailed calculation of the recoverable amount as of December 31st 2020 was used for the impairment test of the cash-generating units (CGUs) “KTM” and “PIERER E-Bikes”. Since the last calculation of the recoverable amount, the assets and liabilities of the CGUs have not changed materially; the last calculation showed a material excess of the carrying amount of the CGUs. Based on an analysis of the events that have occurred and changed circumstances since December 31st 2020, management believes that there is an extremely remote likelihood that the recoverable amount would be less than the carrying amount in a current calculation. The calculation as of December 31st 2020 was performed using the following method: The forecast of cash flows is based on financial budgets approved by management and/or forecasting, taking into account the medium-term strategy targets. The estimated cash flows are based on the medium-term strategy targets approved by management. Estimated cash flows beyond this period are calculated by extrapolation of budget/forecast values, whereby constant further development based on a growth rate of 1% is assumed from the third year onwards. The breakdown of goodwill and its development as well as its allocation to the respective CGUs is as follows: EURk Acquisition and production costs: Balance as of 01/01 Changes in the scope of consolidation Currency translation Balance as of 12/31 Accumulated depreciation and amortization: Balance as of 01/01 Changes in the scope of consolidation Currency translation Balance as of 12/31 Balance as of 12/31 KTM PIERER E-Bikes Avocodo 2 2. I N TA N G I B L E A S S E T S 2021 2020 150,995 -569 255 150,681 19,961 0 9 19,970 130,711 110,309 19,457 945 150,289 679 27 150,995 19,978 0 -17 19,961 131,034 110,063 20,026 945 Intangible assets are capitalized in the same way as property, plant and equipment, at acquisition or production cost and valued less amortization. Depreciation is calculated in accordance with the straight line method and is based on the following expected useful lives: Useful life Software Intangible assets generated internally in years 3 - 5 5

144 EURk Acquisition and production costs: Balance as of 01/01/2020 Additions Disposals Changes in the scope of consolidation Currency translation Transfers Balance as of 12/31/2020 Accumulated depreciation and amortization: Balance as of 01/01/2020 Additions Disposals Changes in the scope of consolidation Currency translation Transfers Balance as of 12/31/2020 Carrying amount: Balance as of 12/31/2020 Balance as of 12/31/2019 Concessions, industrial property rights and similar rights and benefits as well as resulting licenses Customers, Brand values, Development cost Advance payments Total 67,293 7,094 0 632 -57 4,946 79,908 37,631 13,016 0 90 -19 0 50,718 29,190 29,662 466,336 106,618 -28,772 0 1 480 544,663 124,750 52,258 -26,279 0 0 0 150,729 5,474 3,517 0 0 0 -5,280 3,711 0 0 0 0 0 0 0 539,103 117,229 -28,772 632 -56 146 628,282 162,381 65,274 -26,279 90 -19 0 201,447 393,934 356,818 3,711 5,474 426,835 391,954 In the current financial year, development costs of an asset not available for use amounting to EUR 8,829k (previous year: EUR 2,493k) were derecognized due to the termination of the project. In the consolidated statement of cash flows, an adjustment of EUR 4,432k (previous year: EUR 687k) was made to additions to property, plant, and equipment to reflect transactions that had no cash flow effect. Government grants related to capitalized development costs are recognized over the expected useful life of the development costs in accordance with IAS 20. The net presentation in accordance with IAS 20 is applied, i.e. grants for non-current assets are deducted from the carrying amount of the asset in the consolidated statement of financial position. 2 3. P R O P E R T Y, P L A N T A N D EQ U I P M E N T Property, plant and equipment are valued at their acquisition or production cost less depreciation. Depreciation is calculated in accordance with the straight line method and is based on the following expected useful lives: Useful life Buildings Technical plant and machinery Fixtures and fittings, tools and equipment in years 10 - 50 2 - 10 2 - 10

146 EURk Real Estate Buildings Technical plant and machinery Operational and business equipment Advance payments and investments in construction Total 300,317 61,015 -3,707 975 -1,664 0 356,936 0 0 0 0 0 0 0 Accumulated depreciation and amortization: Balance as of 01/01/2020 Additions Disposals Changes in the scope of consolidation Currency translation Transfers Balance as of 12/31/2020 Carrying amount: Balance as of 12/31/2020 Balance as of 12/31/2019 176 164 0 0 -2 0 338 49,897 13,895 -108 511 -663 0 63,532 178,158 27,063 -798 10 -7 0 204,426 26,382 22,920 192,177 163,895 81,665 77,951 72,086 19,893 -2,801 454 -992 0 88,640 50,297 51,421 5,698 10,310 356,219 326,497 Additions to property, plant and equipment include investments amounting to EUR 24,626k (previous year: EUR 19,484k) as additions from leases, which had no cash flow effect on the reporting date. For more details, please refer to Note 47. “Leases as lessee”. In the consolidated statement of cash flows, an adjustment of EUR -995k (previous year: EUR -3,011k) was made to additions to other property, plant and equipment to reflect transac- tions that had no cash flow effect. Property, plant and equipment amounting to EUR 76,200k (previous year: EUR 76,200k) was secured by registered and deposited pledge agreements, primarily for liabilities owed to credit institutions, as of the reporting date. In accordance with IAS 20, investment grants for property, plant and equipment are recognized over the expected useful lives of the assets. The net presentation in accordance with IAS 20 is applied, i.e. grants for non-current assets are deducted from the carrying amount of the asset in the con- solidated statement of financial position. 24. I N V E S T M E N T S A C C O U N T E D F O R U S I N G T H E EQ U I T Y M E T H O D The investments in associates accounted for under the equity method are regarded individually as immaterial. As of December 31st 2021, the financial assets accounted for using the equity method are Kiska GmbH, KTM Asia Motorcycle Manufacturing Inc. and CFMOTO-KTMR2R Motorcycles Co., Ltd. The changes in companies accounted for using the equity method can be found in Note 7. “Changes in the scope of consolidation”. Kiska GmbH is a design business that provides development and design services. The reporting date of Kiska GmbH is March 31, which was de- termined prior to the acquisition of the investment. A change in the accounting date is not sought on account of materiality considerations. For the purposes of accounting under the equity method, unaudited interim financial statements as at December 31 were used. PIERER Mobility AG holds 50% of the company. KTM Asia Motorcycle Manufacturing Inc. was jointly founded in June 2016 in partnership with Ayala Corp. The company began the CKD (completely knocked down) assembly of KTM motorcycles in the Philippines in mid-2017. The KTM group‘s equity holding was increased from 34% to 40% in the 2021 financial year. The KTM joint venture in China conducted in partnership with CFMOTO was established in the 2018 financial year under the name “Zhejiang CFMOTO-KTMR2R Motorcycles Co., Ltd.”. The company began operation in the 2021 financial year. Mid-class motorcycles are produced in Hangzhou, China. The KTM group has an equity holding of 49% of the company.

148 The temporary differences in deferred tax liabilities in the “Non-current assets” item result mainly from development costs that cannot be capitalized for tax purposes and from quasi-permanent differences due to the recognition of the “KTM” brand as an asset. As at December 31st 2021 (as at the previous year end), it was to be assumed either that under current tax regulations the differences between the value for tax purposes of equity interests in consolidated subsidiaries and the proportion of equity recognized in the consolidated IFRS financial statem- ents (outside-basis differences), which arise largely from retained profits/uncovered losses, will remain untaxed in the foreseeable future, or that their reversal can be controlled by the group. It was also to be assumed either that the differences between the value for tax purposes of equity interests in holdings accounted for using the equity method and the carrying value of those holdings (outside-basis differences) will remain untaxed in the foresee- able future, or that their reversal can be controlled by the group. In accordance with IAS 12.39, no deferred tax was recognized in connection with the temporary differences of EUR 242,829k (previous year: EUR 476,815k) arising in connection with holdings in subsidiaries and financial investments accounted for using the equity method. Movements in deferred taxes in the financial year were as follows: EURk 2021 2020 Deferred tax (net) at 1/1 Change in scope of consolidation Deferred taxes recognized in the income statement Deferred taxes recognized in other comprehensive income Deferred taxes recognized in equity Foreign currency Deferred tax (net) at 12/31 -75,422 -296 -13,783 -942 -52 135 -90,360 -69,464 0 -9,545 132 3,784 -329 -75,422 The tax loss carryforwards existing and capitalized in the PIERER Mobility Group can be summarized as follows: EURk PIERER Mobility AG HDC GmbH Other EURk PIERER Mobility AG HDC GmbH Other Loss carryforward 12/31/2021 thereof not recognized 12/31/2021 Remaining loss carryforward 12/31/2021 Deferred tax asset 12/31/2021 62,754 11,497 12,308 86,559 -62,754 -11,497 0 -74,251 0 0 12,308 12,308 0 0 3,077 3,077 Loss carryforward 12/31/2020 thereof not recognized 12/31/2020 Remaining loss carryforward 12/31/2020 Deferred tax asset 12/31/2020 56,335 11,500 33,013 100,848 -56,335 -11,500 -42 -67,877 0 0 32,971 32,971 0 0 7,721 7,721

150 EURk Gross inventory level - Allowances Net inventory level 12/31/2021 12/31/2020 432,956 -27,782 405,174 327,347 -28,603 298,744 The carrying amount of inventories written down to the lower net realizable value is EUR 68,502k (previous year: EUR 61,076k). 2 8 . T R A D E R EC E I VA B L E S The gross value of third-party trade receivables is stated net of individual allowances of EUR 4,060k (previous year: EUR 4,176k). Movements in allowances on receivables were as follows: EURk Balance as of 01/01/2020 Change in scope of consolidation Currency translation Additions to specific valuation allowance Additions to expected loss allowance Utilization Reversals to expected loss allowance Reversals Balance as of 12/31/2020 = 01/01/2021 Change in scope of consolidation Currency translation Additions to specific valuation allowance Additions to expected loss allowance Utilization Reversals to expected loss allowance Reversals Balance as of 12/31/2021 Expenses for the complete derecognition of trade receivables amounted to EUR 225k (prior year: EUR 121k). Trade receivables 2,921 0 -81 1,633 55 -32 -18 -302 4,176 0 -47 1,070 28 -224 -5 -939 4,060

152 In the current financial year, the remaining 193,340 treasury shares were sold at a price of EUR 13,595k and with a profit of EUR 5,148k. The reserve for treasury shares as of the reporting date amounts to EUR 0k (previous year: EUR -8,447k). PIERER Mobility AG now no longer holds any treasury shares. The reserve in accordance with IFRS 9 includes the cash flow hedge reserve. The cash flow hedge reserve comprises the effective portion of the cumulative net changes in the fair value of hedging in-struments used to hedge cash flows until subsequent recognition in profit or loss or direct rec- ognition in the costs of acquisition or carrying amount of a non-financial asset or a non-financial liability. The reserve for hedging costs shows profits and losses on the portion excluded from the designated hedging transaction that relates to the forward element of the forward currency transaction. These are initially recognized as other comprehensive income and accounted for in the same way as profit and losses in the hedging transaction. The development of the cash flow hedge reserve and the reserve for hedging costs is explained in Note 45. “Hedges”. Non-controlling interests comprise the shares of third parties in the equity of the consolidated subsidi-aries: 2021 EURk Percentage of non-controlling interests on reporting date Revenue Profit Other comprehensive income Total comprehensive income Profit assigned to non-controlling interests Other comprehensive income assigned to non-controlling interests Non-current assets Current assets Non-current liabilities Current liabilities Net assets Carrying amount of non-controlling interests Cash flow from operating activities Cash flow from investing activity Cash flow from financing activity Cash change Dividends to non-controlling interests 1 Until October 2021, the percentage of non-controlling shareholders was approximately 48 Other Total KTM AG 0.25%1 1,876,418 165,312 2,041,730 146,067 6,364 152,431 60,201 2,235 907,154 951,711 -610,265 -544,853 703,747 2,633 359,846 -183,746 -35,985 140,115 13,275 -3,195 1,378 -1,817 131 -7 85,660 89,194 -39,201 -73,849 61,804 2,776 7,517 -11,377 8,364 4,504 0 142,872 7,742 150,614 60,332 2,228 992,814 1,040,905 -649,466 -618,702 765,551 5,409 367,363 -195,123 -27,621 144,619 13,275

154 The difference recognized in equity mainly results from the increase of the shares in KTM AG from 51.71% to 99.75% in the current financial year. On the one hand, this relates to the contribution of around 46.5% of the shares in KTM AG by Pierer Bajaj AG (parent company of PIERER Mobility AG) to PIERER Mobility AG, as has already been discussed under this item. On the other hand, a further approx. 1.5% of the shares in KTM AG were acquired in the 2021 financial year. The equity holding in KTM AG thus increased from 51.71% to 99.75%. In the current financial year, PIERER Mobility AG also increased its shares in KTM Technologies GmbH from 70% to 100%. In the previous year, PIERER Mobility AG increased its shares in Avocodo GmbH from 70% to 100%. Other comprehensive income after tax developed as follows in the consolidated equity: EURk 2021 Currency translation differences Cash flow hedge Revaluation of net debt from defined benefit plans 2020 Currency translation differences Cash flow hedge Revaluation of net debt from defined benefit plans 32. F I N A N C I A L L I A B I L I T I E S EURk Promissory note loans Registered bond Liabilities owed to credit institutions Liabilities from factoring program between group companies Liabilities from supplier finance program between group companies Lease liabilities Other interest-bearing liabilities Total financial liabilities Provision as per IFRS 9 Reserves including total earnings Foreign currency translation reserve Total Interests non-controlling shareholders Total consolidated equity 0 1,871 0 1,871 0 -1,215 0 -1,215 0 0 206 206 0 0 352 352 3,437 0 0 3,437 -2,219 0 0 -2,219 3,437 1,871 206 5,514 -2,219 -1,215 352 -3,082 1,480 385 363 2,228 -2,057 139 329 -1,589 4,917 2,256 569 7,742 -4,276 -1,076 681 -4,671 12/31/2021 12/31/2021 12/31/2021 Nominal Carrying amount Term < 1 year 12/31/2021 Term > 1 year 225,000 60,000 206,596 2,498 1,836 65,442 2,802 564,174 224,661 59,551 206,596 2,498 1,836 65,442 2,802 563,386 5,998 0 23,805 2,498 1,836 19,908 2,802 56,847 218,663 59,551 182,791 0 0 45,534 0 506,539

156 Movements in the net liability under the defined benefit plans in respect of severance pay were as follows during the financial year: EURk Conditional benefit: Balance as of 01/01 Service cost Interest expenses Payments made Actuarial gain / loss (other net result) Changes in the scope of consolidation Miscellaneous Balance as of 12/31 12/31/2021 12/31/2020 21,946 22,501 752 231 -622 -759 0 -346 21,202 838 245 -588 -908 1 -143 21,946 The weighted maturity terms (duration) of the severance payment obligations as of December 31st 2021 amount to 12 years (previous year: 13 years). The actuarial profit/loss is made up of the following factors: EURk Change in expected values Change in demographic assumptions Change in financial assumptions Actuarial gain / loss The measurement of the obligation is based on the following assumptions: Discount rate Wage / salary trend Retirement age (years) women/men 12/31/2021 12/31/2020 -260 -196 -303 -759 -807 5 -106 -908 12/31/2021 12/31/2020 1.23% 2.75% 0.90% 2.50% 62 - 65 years 62 - 65 years The discount rate was determined taking into account the average duration and average remaining life expectancy. The discount rate is the market yield on high quality, fixed-interest corporate bonds at the end of the reporting period. Staff turnover is determined on a company-specific basis and takes account of age and length of service. The actuarial measurements are based on country-specific mortality tables. The chosen retirement age is the statutory retirement age in each country.

158 Other current liabilities essentially comprise the following: EURk Sales bonuses Liabilities from derivative financial instruments Price rebates Other financial liabilities Other current financial liabilities Employee benefits Prepayments Tax liabilities Other non-financial liabilities Other current non-financial liabilities Other current liabilities 12/31/2021 12/31/2020 46,678 3,709 1,988 15,954 68,329 49,486 5,998 9,460 44 64,988 133,317 28,365 7,236 3,078 10,920 49,599 30,289 2,808 3,715 205 37,017 86,616 Current employee benefits mainly include liabilities for unconsumed vacations, liabilities for employee bonuses, liabilities to district health insurance funds, and wage and salary liabilities. Supplier finance: Companies in the PIERER Mobility Group have entered into a supplier finance program (a revolving facility for the financing of trade payables) with an Austrian credit institution. Suppliers can sell their receivables from the PIERER Mobility Group to the credit institution before the due date. The PIERER Mobility Group is not released from its original obligation and, due to a quantitative and qualitative audit, there is no significant change in the contractual terms and conditions. The liabilities continue to be shown under trade payables and are reported in cash flow from operating activities. As of December 31st 2021, this supplier finance program affected trade payables of EUR 167,344k (previous year: EUR 119,558k). This is 42.3% (previous year: 45.6%) of total trade liabilities as at the reporting date in the amount of EUR 395,581k (previous year: EUR 262,099k). In addition to suppliers outside the group, such a program was also concluded between Austrian companies of the PIERER Mobility Group. From the point of view of the PIERER Mobility group, no exchange of services took place; it merely made use of external financing, which is reported under current financial liabilities. Cash flows are reported under cash flow from financing activities. As of December 31st 2021, liabilities from this program totaled EUR 169,180k (previous year: EUR 122,875k), of which, as of December 31st 2021, the relationships between group companies amounting to EUR 1,836k (previous year: EUR 3,317k) are presented as current financial liabilities in the consolidated financial statements of PIERER Mobility AG. Contingent liabilities: PIERER Mobility AG has issued a guarantee for DealerCenter Digital GmbH, Landshut, Germany to RLB OÖ, arising from obligations to suppliers, up to a maximum amount of TEUR 500 (previous year: TEUR 0). For a reverse factoring program at Erste Group Bank AG, PIERER Mobility AG has issued a letter of comfort for PIERER E-Bikes GmbH, Vienna, in the amount of TEUR 15,000 (previous year: TEUR 15,000). As of the reporting date, the reverse factoring program resulted in a liability amount of TEUR 15,000 (previous year: TEUR 0). In the previous year, PIERER Mobility AG issued a guarantee for PEXCO GmbH, Schweinfurt, Germany to KGI Bank Co., Ltd., Taiwan, for obligations to suppliers up to a maximum amount of TEUR 16,299. The amount outstanding to suppliers in the previous year was EUR 7,685 thousand.

160 EURk Balance as of 1/1/2020 Changes affecting cash flow Changes not affecting cash flow Acquisition Reclassifica- tion Scope of consolidation changes Transaction costs Current financial liabilities Non-current financial liabilities Current lease liabilities Non-current lease liabilities Total 69,772 -53,545 424,763 0 0 0 28,518 10,409 -28,518 17,498 16,586 -18,821 -47 21,773 45,546 0 18,463 -21,773 0 0 0 103 0 0 Carrying amount 12/31/2020 Accrued in terest, foreign ex change effect 55,103 413,853 19,491 42,236 -51 7 0 0 556,667 -72,366 18,416 0 27,907 103 -44 530,683 V I I . RI S K RE P O R T 3 6 . RI S K M A N A G E M E N T As a group of companies conducting business on a global scale, the PIERER Mobility Group faces a multitude of possible risks that are monitored by means of a comprehensive risk management system. The Executive Board and Supervisory Board are periodically informed about risks that may have a major impact on the group’s business operations. Management takes timely action to avoid, minimize and hedge risks. An internal control system adapted to the company’s needs and incorporating basic principles such as segregation of duties and dual control has been integrated into the financial reporting process. Internal and external audits ensure that the processes are continually improved and optimized. Further- more, a uniform reporting system is in place throughout the group, for the ongoing management and control of the risk management process. Continuous growth depends on a variety of factors, such as demand behavior, product development, changes in foreign exchange rates, the general economic setting in the individual sales markets, prices of goods purchased from others, and talent management. Increased market research activities and a model policy reflecting the resulting findings are the means of responding to a market environment characterized by rapidly changing situations. In order to prevent risks associated with fraud, corruption, and bribery, employees are obliged to behave in accordance with the principles defined in the Code of Conduct. The code is binding for all employees, managers, and board members as well as for consultants, business partners, and cus- tomers of the PIERER Mobility Group. The 2021 financial year also marks the conclusion of accepting the Code of Conduct as a further Annex and thus as an integral part of the existing dealer contracts for the KTM group. Since the beginning of 2020, this has already been the case with new dealer contracts and also with new contractual relationships in the supply sector. In order to counteract negative macroeconomic and geopolitical effects, PIERER Mobility promotes global diversification of the sales markets. The greatest relative growth in the coming years is expected in Asia. In order to promote this growth, intensive cooperation with our strategic partner Bajaj is being continuously expanded. In addition, investments have been made in production sites with local partners in China and the Philippines. The earnings position of PIERER Mobility AG (as an individual company) is shaped by expenses in connection with financing raised, acquisitions of in- vestments and project expenses and depends to a large extent on the dividend policy of its investees. The investment in the KTM group is currently the largest and most significant investment of PIERER Mobility AG. The PIERER E-Bikes Group represents another core operating investment of the group. In accordance with the requirements of Section 243(c) of the Austrian Commercial Code (UGB), a corporate governance report has been drawn up. In this regard, we refer to the publication in the annual report of PIERER Mobility AG or to the website of PIERER Mobility AG.

162 3 8 . I N D U S T RY- S P EC I F I C RI S K S RESTRICTIONS RELATING TO MOTORCYCLING The revenue of the group depends, inter alia, on the possible offroad uses of motorcycles and is therefore considerably influenced by the national legal framework regulating offroad motorsport, motorcycle registration and rider’s licenses in the countries where the vehicles are sold. PROCUREMENT RISK In the current situation, the procurement risk faced by the KTM group is principally failing to receive ordered components or receiving them on dates other than those originally agreed. In order to ensure the best possible availability of components, there is a major focus on long-term cooperations with our supply partners as well as the careful selection of excellent new suppliers in accordance with established criteria. The group works continu- ously on developing its relationships with its suppliers. A deep mutual understanding of the processes is essential here. As the quality of the products is strongly determined by the quality and properties of the sourced subcomponents, particular attention is paid to suitable operating facilities and production processes of suppliers, as well as their financial strength and compliance with ecological, social and ethical standards. The procurement of components and bicycles is planned for the medium term. Short-term fluctuations can also be offset by appropriate storage capacities. The products are priced on the basis of fixed negotiated purchase prices. Prices and capacities are agreed with suppliers in advance and secured. The PIERER E-Bikes Group has several suppliers from different countries in its portfolio to reduce the risk of dependency, as far as possible, and increase the stability of the supply chains. As a risk, the timely availability of frames and drive components places increased demands on suppli- ers. Bicycles and bicycle parts purchased from outside Europe incur import duties of around 6%. Rising or falling import duties lead to higher or lower purchase prices and may have a positive or negative impact on margins if these effects are not passed on to customers in full. In the second year following the outbreak of the COVID-19 pandemic, the PIERER Mobility Group faced increasing difficulties with regard to the supply of semiconductors and the associated shortages of electronic components. In order to support its suppliers in this situation, the group actively inter- vened in the procurement of electronic components and was thus able to prevent major shortages both at suppliers and at its own production sites. In addition to the shortage of electrical components, there were also bottlenecks in the supply of raw materials such as aluminum and plastic granulate, but these only had immaterial effects due to intensive cooperation in the supply chain. For 2022, it is expected that the situation will worsen – at least in the first two quarters. The difficult supply situation for suppliers, capacity bottle- necks at suppliers themselves and interruptions to logistical processes will continue to require close coordination with our partners. To reduce risk, among other things, stock at suppliers was built up in 2022, a market intelligence system for electronic components was introduced, and the logic of our scheduling agreement releases adapted to the changed situation. RESEARCH AND DEVELOPMENT, RACING Technical innovations and the introduction of new products are largely responsible for the PIERER Mobility Group’s competitive position. To this end, new trends must be identified promptly. To counteract the risk, our own products’ innovative capacity must be ensured. The PIERER Mobility Group therefore attaches great importance to identifying trends at an early stage, conducting research and development in tech- nical and functional areas, and researching what customers want in order to develop innovative products that reflect what the market wants. Racing achievements are not only an important marketing instrument for the company but also form the basis for product development and set standards for series development. Valuable experience is gathered whenever products can be tested in racing conditions at racing events. Before being introduced into series production, all technical innovations are moreover subjected to comprehensive testing by the quality management system so as to elimi- nate, to the greatest extent possible, any technical defects that could have a negative effect on earnings development. PRODUCT LIABILITY RISK The PIERER Mobility Group is also exposed in its business activity to claims for damages owing to accidents and injuries. This applies especially to the U.S., where claims asserted in product liability cases involve higher amounts of liability. In addition to existing safeguards, this risk is minimized by comprehensive quality control in all production areas..

164 The main causes of ineffectiveness in currency hedges are: the impact of the credit risk of the counterparties and the group on the fair value of the forward currency transactions that is not reflected in the change in the fair value of the hedged cash flows attributable to changes in foreign exchange rates; changes in the transaction date of the hedged items. Sensitivity analyses have been performed on currency risks in relation to financial instruments in order to show the effects that hypothetical changes in the exchange rates have on profit or loss (after taxes) and equity. The relevant balances as of the reporting date and foreign currency purchases and sales budgeted for the 2022 financial year were used as a basis. It was assumed that the risk faced on the reporting date essentially represents the risk present during the financial year. The group tax rate of 25% was used as the tax rate. Furthermore, it was assumed in the analysis that all other variables, in particular the interest rates, remained constant. Currency risks relating to financial instruments of a monetary nature that are de- nominated in a currency other than the functional currency were included in the analysis. In the scope of the sensitivity analysis, effects of changes in the exchange rate of ± 10% are shown as profit or loss, other comprehensive income, and equity. The PIERER Mobility Group bases the analysis on the following assumptions: For the sensitivity of profit and loss, the group‘s bank balances, receivables and payables are considered, as are future receipts and payments in foreign currency that are not accounted for in the functional currency of the group company. Account is also taken of open derivatives on cash flow hedges where the hedged item has already been realized on the reporting date (recognized as income). For the sensitivity of other comprehensive income, account is taken of open derivatives from cash flow hedges where the hedged item has not yet been realized on the reporting date (movements are not recognized in profit and loss). The exposure corresponds to the notional amount of the open derivatives. Increase (+) / Decrease (-) EURk Change in net result Change in currency-related cash flow hedge provisions Change in equity INTEREST RATE RISKS 10% increase 12/31/2020 12/31/2021 -23,490 10,995 -12,495 -22,223 2,199 -20,024 10% devaluation 12/31/2021 12/31/2020 28,709 -13,439 15,270 27,161 -2,688 24,473 Financial instruments on both the assets side and the liabilities side mainly carry interest at variable rates. The risk therefore comprises rising inter- est expenses or falling interest income resulting from an adverse change in market interest rates. The PIERER Mobility Group has refinanced part of its debt at variable rates and is thus exposed to the risk of interest rate fluctuations on the market. Regular monitoring of the money and capital markets and, in some cases, the use of interest rate swaps (fixed interest rate payer swaps) serve to re- spond to this risk. Under the interest rate swaps entered into, the concern receives variable interest payments and, in return, pays fixed interest on the notional amounts of the contracts entered into. Interest rate risks thus result mainly from primary financial instruments carrying interest at variable rates (cash flow risk). Sensitivity analyses were performed on the interest rate risks of these financial instruments in order to show the effects that hypothetical changes in the market interest rate level have on profit or loss (after tax) and equity. The relevant balances as of the reporting date were used as a basis. It was assumed that the risk faced on the reporting date essentially represents the risk present during the financial year. The group tax rate of 25% was used as the tax rate. Fur- thermore, it was assumed in the analysis that all other variables, in particular the exchange rates, remained constant.

166 A summary of the default risk on trade receivables as of December 31st 2021 is presented in the following table. Trade receivables EURk Not overdue Overdue 1-30 days Overdue 31-60 days Overdue 61-90 days Overdue > 90 days Total gross carrying amount Impairment loss Total Not impaired in creditworthiness Creditworthiness impaired Total 129,036 15,182 1,884 1,212 2,775 150,089 -103 149,985 0 0 0 0 4,833 4,833 -3,957 876 129,036 15,182 1,884 1,212 7,608 154,921 -4,060 150,861 A summary of the default risk on trade receivables as of December 31st 2020 is presented in the following table. Trade receivables EURk Not overdue Overdue 1-30 days Overdue 31-60 days Overdue 61-90 days Overdue > 90 days Total gross carrying amount Impairment loss Total Not impaired in creditworthiness Creditworthiness impaired Total 125,475 11,136 353 1,010 4,731 142,705 -135 142,570 0 0 0 0 6,358 6,358 -4,041 2,317 125,475 11,136 353 1,010 11,089 149,063 -4,176 144,887 In order to determine the need for impairment of trade receivables for which no individual value adjustments have been made, the PIERER Mobility Group evaluated the defaults of recent years. The analysis showed that there is only an insignificant risk for receivables with a certain overdue status. The estimate of loss rates is based on historical default rates in relation to overdue receivables and considering forward-looking information. As regards the current portfolio of trade and other receivables that are neither impaired nor past due, there are no indications as of the closing date that the debtors will not meet their payment obligations. There are no concentration risks. Estimation of expected credit losses Based on actual defaults observed in the past, an average default rate in the KTM group of 0.06% (previous year: 0.06%) of trade receivables was determined. A reversal of EUR 5k (previous year: EUR 18k) was recorded. In the E-Bikes segment, an average default rate of 0.13% (previous year: 0.39%) of trade receivables was determined. An addition of EUR 28k (previous year: EUR 55k) was recorded. The impairment for expected losses as of December 31st 2021 in the PIERER Mobility Group amounts to a total of EUR 158k (previous year: EUR 135k).

168 The contractually agreed (undiscounted) cash flows (payments of interest and principal) and the remaining terms to maturity of the financial liabilities are composed of the following: EURk Carrying amount 12/31/2021 Cash flow 2022 Fixed interest Variable interest Repay- ment Cash flow 2023 to 2026 Fixed interest Variable interest Repay- ment Cash flow from 2027 Fixed interest Variable interest Repay- ment Fair value - hedging instruments Other financial liabilities - Financial liabilities measured at fair value derivatives with negative market value that have already been assigned to receivables derivatives with negative market value (cash flow hedge) Total Other financial liabilities - Financial liabilities not measured at fair value At amortized cost Interest-bearing liabilities Lease liabilites Trade payables Other financial liabilities (current and non-current)) Total Total 479 1,509 1,988 0 0 0 0 0 0 479 1,509 1,988 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 497,944 5,292 1,202 34,838 16,330 3,837 282,787 6,312 942 179,134 65,442 395,581 79,175 0 0 0 797 19,909 0 7 395,581 78,029 0 0 0 1,552 34,784 0 11 0 329 0 0 0 3,319 10,749 0 0 0 817 1,038,142 1,040,130 5,292 5,292 2,006 2,006 528,357 530,345 16,330 16,330 5,400 5,400 317,900 317,900 6,312 6,312 4,261 4,261 190,700 190,700

170 41. O T H E R RI S K S PROCESS RISKS There is a risk that standardized processes will not be adhered to, particularly in production. To minimize this risk, these processes are documented in work instructions, process manuals, and handbooks. Employees are trained in the use of this documentation and the documents are freely accessible via various systems. RISKS DUE TO THE LEGAL FRAMEWORK As the PIERER Mobility Group markets motorcycles and e-bikes and non-e-bikes in a large number of countries through its equity holdings in the KTM group and PIERER E-Bikes Group, it is exposed to the risk of changes in national regulations, terms of licenses, taxes, trade restrictions, prices, in- come, and exchange restrictions as well as to the risk of political, social, and economic instability, inflation, and interest rate fluctuations. Motorcycles registered for road use must comply with corresponding provisions concerning noise and exhaust gas emissions in order to be approved for marketing in the respective country. For all new models that are homologated for road use, the KTM group complies with the Euro V European emis- sion standard that is relevant for motorcycles. The possible offroad uses of motorcycles are considerably influenced by the national and legal condi- tions in the countries where the vehicles are sold. To counteract this risk, the respective regulations specific to the given country are analyzed in detail prior to market launch and continue to be monitored on an ongoing basis in order to be able to react in good time to any changes. The strong focus on research and development ensures that all products of the PIERER Mobility Group will continue to meet regulatory requirements in the future. Fully electric motorcycles already complement the KTM group product range today. At the same time, research and development is also focusing on other alternative drive technologies. BUSINESS AND ENVIRONMENTAL RISK Environmental risks may relate to products, production, procurement and non-operating factors. More detailed examinations of environmental risks can also be found in the sustainability report published annually by PIERER Mobility AG and/or the reporting it contains in accordance with the recom- mendations of the Task Force on Climate-Related Financial Disclosures (TCFD) on climate-related opportunities and risks. With regard to the products, risks arise in relation to emissions such as noise and pollutants or the leakage of harmful substances such as fuel or oil. In order to minimize these risks that may be caused by potential malfunctions, the homologation requirements are strictly observed in addition to other measures, each vehicle tested for its functionality and compliance with all limit values on our own test benches, and a laboratory is in operation to test the interaction of materials used with people and the environment. In addition, the development of emission-free alternative drive systems and products is becoming an increasingly important focus. With respect to production, environmental risks arise due to the potential leakage of substances, waste and material residues on the premises. Nu- merous measures are undertaken to prevent these. These include waste management concepts, an engine oil treatment plant, emergency plans for each site and professional extraction systems for metal chips that deposit them in the container provided for this purpose. Emissions from operating the test benches are also caught by extraction systems. Environmental risks in procurement may result from the environment-related shortage and rising prices of resources, cooperation with suppliers that do not operate with sufficient environmental measures, and emissions from delivery routes. In order to minimize these risks, measures are taken that include auditing suppliers, optimizing procurement channels, prioritizing regional procurement, and the use of resource-saving, modern production technology. In addition, environmental risks arise from weather-related and climate-related phenomena, such as floods and other natural disasters. Although it is not possible to completely rule out the risk of natural disasters, the PIERER Mobility Group makes efforts to minimize the risk of production processes being impaired by having suitable emergency plans and insurance policies. For the main factories in Mattighofen and Munderfing, the risk of natural disasters occurring is considered to be low due to their geographical location.