Definitive interim result of public tender offer for u-blox – Offer declared successful

Thalwil, Switzerland, and Luxembourg, 15 October 2025 – ZI Zenith S.à r.l. (“Zenith”), a European indirect subsidiary of funds managed and/or advised by Advent International, L.P. (“Advent”), a leading private equity investor, today announced the definitive interim result of its public tender offer (“Offer”) for all publicly held registered shares of u-blox Holding AG (“u-blox”) (SIX: UBXN), a global provider of positioning and wireless communication technologies.

As of the end of the offer period on 9 October 2025, and based on the definitive result, 4,774,528 u-blox shares had been tendered. Including irrevocable undertakings received prior to the publication of the provisional interim result, and considering the shares already held by Zenith and persons acting in concert with it, Zenith’s total participation amounted to 4,964,580 u-blox shares, representing 64.64% of the issued share capital and voting rights of u-blox.

Following the publication of the provisional interim result, additional shareholders provided irrevocable undertakings to tender their shares and Zenith purchased additional shares. Taking these further undertakings and market purchases made after the end of the offer period and prior to the publication of this notice into account, the total participation now amounts to 5,188,557 shares, corresponding to 67.55% of the issued share capital and voting rights of u-blox. Accordingly, Zenith declares the Offer to be successful. 

An additional acceptance period of ten trading days will commence on 16 October 2025 and end on 29 October 2025 at 4:00 p.m. CEST. Shareholders who have not yet tendered their shares may do so under the same terms and conditions as set out in the Offer Document.

The definitive notice of the interim result has been published on the official publication platform of the Swiss Takeover Board and is available at www.zenith-offer.com. The final result of the Offer will be published after the end of the additional acceptance period.

Completion of the transaction is expected in the fourth quarter of 2025, subject to the fulfillment of the offer conditions and receipt of required regulatory approvals. As set out in the offer prospectus, settlement of the Offer remains subject to further offer conditions, including approval of the delisting by the extraordinary shareholders’ meeting and the election of the persons nominated by Zenith to the board of directors of u-blox.

Following settlement of the Offer, and subject to such conditions, Advent intends to initiate a squeeze-out procedure, and to delist u-blox shares from the SIX Swiss Exchange.

Ends