Electrolux contests the U.S. Department of Justice’s opposition to the acquisition of GE Appliances

The U.S. Department of Justice ("DOJ") has announced that it will seek to stop
Electrolux proposed acquisition of the appliances business of General Electric
(“GE Appliances”). Electrolux contests vigorously this effort by the DOJ to
oppose the transaction. The review of the proposed acquisition will now continue
in a court procedure.
On September 8, 2014, Electrolux announced it had entered into an agreement to
acquire GE Appliances, a well-known manufacturer of kitchen and laundry products
in the United States, for a cash consideration of USD 3.3 billion.

Electrolux does not agree with the DOJ’s assessment that the acquisition will
harm competition. Electrolux believes the acquisition will increase competition
and provide consumers access to a greater choice of high quality products at a
wider range of competitive prices. The acquisition is intended to enhance
Electrolux scale and efficiencies in order to invest more in innovation and
growth for the benefit of all consumers, retailers, employees and shareholders.
Electrolux also finds DOJ’s opposition to be wholly inconsistent with its 2006
decision to approve Whirlpool’s acquisition of Maytag – at the time one of
Whirlpool’s major competitors on the U.S. home appliance market.

“The appliances industry is more competitive than ever,” said Keith McLoughlin,
President and CEO of Electrolux.  “We believe this acquisition accelerates
consumer innovation, which improves the industry as a whole, and results in more
consumer choice than ever.”

Electrolux has already obtained regulatory approval in Brazil, Canada and
Ecuador. The transaction is subject to filing requirements in a few more
countries in Latin America. Electrolux remains confident in its assessment of
the competitive merits of this transaction and its favorable impact on consumers
and Electrolux therefore still expects the transaction to close in 2015. The
transaction is expected to generate annual cost synergies of approximately USD
350 million. The largest are expected to come from sourcing, operations and
logistics.

Telephone conferences today and tomorrow
Today, Wednesday July 1, Electrolux will host a media telephone conference for
its legal advisors to discuss its defense and legal options for the planned
acquisition. The conference call will begin at 2215 CET (1615 ET).

Details for the call are as follows:
Participants in the U.S. should call +1 (844) 327-4622
Other participants should call +1 (682) 888-5022
Conference ID#77924983

On Thursday, July 2, an investor telephone conference will be held with Keith
McLoughlin, President and CEO of Electrolux, and Tomas Eliasson, CFO. This
conference call will begin at 0830 CET (0230 ET).

Details for the call are as follows:
Participants in Sweden should call +46 (8) 505 564 74
Participants in the UK/Europe should call +44 (203) 364 5374
Participants in the U.S. should call +1 (855) 753 2230
Contacts for further information

International and European media: Daniel Frykholm, Head of Group Media
Relations, +46 73 885 71 59

North American media: Eloise Hale, Vice President Communications Electrolux
North America, +1 980 236 2929

Investors and financial analysts: Catarina Ihre, Vice President Investor
Relations, +46 70 607 92 63

Alternatively, please contact Electrolux Press Hotline, +46 8 657 65 07

Electrolux discloses the information provided herein pursuant to the Securities
Market Act and/or the Financial Instruments Trading Act. The information was
submitted for publication at 21.15 CET on July 1, 2015.
Electrolux is a global leader in home appliances, based on deep consumer insight
and developed in close collaboration with professional users. We offer
thoughtfully designed, innovative solutions for households and businesses, with
products such as refrigerators, dishwashers, washing machines, cookers, vacuum
cleaners, air conditioners and small domestic appliances. Under esteemed brands
including Electrolux, AEG, Zanussi, Frigidaire and Electrolux Grand Cuisine, the
Group sells more than 50 million products to customers in more than 150 markets
every year. In 2014, Electrolux had sales of SEK 112 billion and 60,000
employees. For more information go to www.electroluxgroup.com.