Schmid Anette → SCHMID Group N.V. SHMDW

The information regarding the Exchange and the Business Combination set forth in Item 3 above is incorporated into this Item 4 by reference. All of the Class A Shares beneficially owned by the Reporting Persons, as reported in this Schedule 13D/A, were received in connection with the Exchange and the Business Combination as described in Item 3 above. Anette Schmid serves on the Issuer's board of directors as does Christian Schmid, who also serves as the Chief Executive Officer of the Issuer. Accordingly, the Reporting Persons have influence over the corporate activities of the Issuer, including activities that may relate to items described in clauses (a) through (j) of Item 4 of this Schedule 13D. As a result of the Business Combination described above, the Reporting Persons hold a majority stake in the Issuer. The Reporting Persons were also the sole beneficial shareholders of Gebr. Schmid GmbH (which is now a 100% subsidiary of SCHMID Group N.V.), and plan to continue to hold their securities and retain control of the Issuer for the purpose of managing it. Other than as set forth in this Statement, the Reporting Persons have no present plans or proposals which relate to or would result in the matters set forth in clauses (a) through (j) of Item 4 of Schedule 13D; provided that the Reporting Persons may, at any time, review or reconsider their position with respect to the Issuer and the market and reserve the right to develop and/or amend any such plans or proposals.