De Nora Completes The Acquisition Of BW Water

Milan – Industrie De Nora S.p.A. ("De Nora") – an Italian multinational listed on Euronext Milan,  specialized in electrochemistry, water treatment systems and sustainable solutions – announces that it has today  completed the acquisition of 100% of BW Water Pte. Ltd. (“BW Water”), a fast-growing global player in the  water treatment solutions segment.

The transaction, announced on 26 May 2026, became effective on 1 July 2026 following the satisfaction of the  conditions precedent set out in the Share Purchase Agreement. The consideration paid at closing amounted to  USD 60.8 million. As already indicated in the press release dated May 26 2026, the final consideration and the  EV (Enterprise Value) will be determined in the third quarter, following adjustments related to the completion of  the financial statements as of the closing date. The EV will, in any case, not exceed USD 66.5 million.

The acquisition will enable De Nora to create a solution-driven platform to address global water challenges related  to scarcity and security, strengthening its position along the value chain and enhancing proximity to customers. By combining De Nora’s technological expertise with BW Water’s engineering and system integration capabilities,  the Group will be able to improve the execution of large-scale projects, offer comprehensive turnkey solutions,  access new high-growth markets, including semiconductors, mining, pharmaceuticals, food & beverage and  desalination. The transaction will also enable De Nora to strengthen its presence in key geographic areas,  including Southeast Asia, and to develop commercial and operational synergies, including cross-selling  opportunities and access to projects and tenders requiring end-to-end solutions.

Paolo Dellachà, Chief Executive Officer of De Nora, commented: “The completion of the BW Water  acquisition represents a key milestone in executing our strategy in the water treatment segment, while  accelerating the Group’s growth trajectory. In addition to strengthening our positioning along the value chain and  completing our offering with turnkey solutions, the transaction allows us to enter new high-growth markets,  including semiconductors, desalination and mining. We are pleased to welcome BW Water’s team to the De Nora  Group and to embark together on this new phase of growth”.

Industrie De Nora S.p.A. is an Italian multinational company founded in 1923 and listed on the Euronext Milan  stock exchange. A global leader in electrochemical processes and technologies for water management, it provides  products and services that enable industrial processes in the chlor-alkali, electronics, battery, water treatment  (both municipal and industrial), and green hydrogen sectors. With an operational presence across multiple  regions–including the Americas, Europe, the United Arab Emirates, and Asia–De Nora delivers customized  solutions, effectively and reliably meeting market demands. Committed to ESG principles, the company integrates  environmental sustainability and social responsibility into all its activities.