NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO OR FROM ANY OTHER JURISDICTION WHERE TO DO SO WOULD VIOLATE THE LAWS OF SUCH JURISDICTION

Beowolff Capital Successfully Completes Voluntary Takeover and Delisting Offer for artnet and Secures 98.93% of all artnet Shares

• Beowolff Capital secured c. 98.93% of artnet’s entire share capital following successful completion of the voluntary takeover and delisting offer
• Delisting of artnet shares on the Frankfurt Stock Exchange took effect on August 22, 2025
• Transaction positions Beowolff Capital as a premier investment entity that aims to expand the art market among both buyers and sellers

London, U.K. – August 27, 2025: Leonardo Art Holdings GmbH (“Leonardo Art Holdings”), an investment vehicle advised by Beowolff Capital Management Ltd. (collectively, “Beowolff Capital”), today announced the successful completion of the voluntary takeover and delisting offer (the “Offer”) for artnet AG (“artnet”).

During the additional acceptance period, which ended on August 22, 2025, 78,856 artnet shares were tendered into the Offer. This corresponds to approximately 1.35% of all outstanding artnet shares. Including share purchases and binding agreements with shareholders, Beowolff Capital has thus secured a total stake of approximately 98.93% in artnet.

The artnet shares were delisted from trading on the regulated market on the Frankfurt Stock Exchange with effect from end of August 22, 2025. In addition, on August 19, Beowolff Capital submitted a request to implement a squeeze-out of the minority shareholders of artnet.

Information relating to the Offer is published on the following website: www.leonardo-offer.com.

Advisors

Beowolff Capital is advised by ParkView Partners as exclusive financial advisor and Kirkland & Ellis as legal advisor on this transaction.

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About the Beowolff Capital team

Andrew Wolff is the Chief Executive Officer of Beowolff Capital. He has been a private market investor for 30 years in the United States, Europe, and Asia. He spent the bulk of his career at Goldman Sachs, where he was most recently the Global Co-Head of the Merchant Banking Division and the Global Co-Head of the Corporate Equity Investing business. Andrew also served as the Co-CIO of Goldman Sachs’ flagship private equity funds. He was named partner in 2006. Andrew earned a B.A. in Philosophy from Yale University, and a J.D. and M.B.A. from Harvard Law and Business Schools.

Jan Petzel is the Chief Investment Officer of Beowolff Capital, with 27 years of experience investing in and building businesses across Europe, the United States, and Asia. He started his career at McKinsey & Company, helping clients drive cross-border integrations, organizational transformations, and sales growth. In 2003, Jan joined Goldman Sachs’ Merchant Banking Division, rising to Managing Director in 2011 and later leading Private Credit for Germany and Northern Europe. Since leaving Goldman Sachs, he has invested his own and third-party capital into the clean tech and fintech sectors. Jan holds a Master of Engineering from ETH Zurich, was a visiting scholar at MIT, and earned his M.B.A. at Harvard Business School.

To find out more, visit: www.beowolff.com.

Contact

For media inquiries, please email: leonardo-offer@brunswickgroup.com.

Important notice

This press release is neither an offer to purchase nor a solicitation of an offer to sell shares in artnet AG. The Offer itself as well as its provisions and other regulations concerning the Offer are set out in the Offer Document approved for publication by BaFin. Shareholders of artnet AG are advised to thoroughly read the Offer Document and all other relevant documents regarding the offer upon their availability as they contain important information. The Offer is solely subject to the laws of the Federal Republic of Germany and certain applicable provisions of securities law of the United States of America. Any agreement that is entered into as a result of accepting the Offer will be exclusively governed by the laws of the Federal Republic of Germany and is to be interpreted in accordance with such laws.