Elmwood Asset Management Llc

Allegations: ON OCTOBER 25, 2024, ELLIOTT INVESTMENT MANAGEMENT L.P. ("ELLIOTT") BECAME AWARE OF A NOTICE (THE "NOTICE") ISSUED BY BUNDESANSTALT FUR FINANZDIENSTLEISTUNGSAUFSICGHT ("BAFIN"), ADDRESSED TO MR. PAUL SINGER, THE ULTIMATE CONTROL PERSON OF ELLIOTT, ALLEGING THAT ELLIOTT FAILED TO TIMELY FILE CERTAIN NOTIFICATIONS IN CONNECTION WITH AN INVESTMENT MADE BY CERTAIN OF EIM'S ADVISORY CLIENTS (THE "ELLIOTT FUNDS") IN HELLA GMBH & CO. KGAA, A GERMAN-DOMICILED COMPANY (THE "ISSUER"). ELLIOTT TIMELY FILED SUCH NOTIFICATIONS AND CORRECTLY IDENTIFIED BOTH THE LEGAL AND ULTIMATE BENEFICIAL OWNERS IN SUCH NOTIFICATIONS AT THAT TIME. ELLIOTT SUBSEQUENTLY NOTIFIED BAFIN OF ITS INTENTION TO UPDATE, AND THEN UPDATED, THE NOTIFICATIONS WITH RESPECT TO IDENTIFYING CERTAIN ENTITIES IN THE HOLDING STRUCTURE THROUGH WHICH THE ISSUER WAS HELD BY THE ELLIOTT FUNDS. BAFIN HAS ALLEGED THAT ELLIOTT FAILED TO CORRECTLY IDENTIFY THOSE ENTITIES IN THE HOLDING STRUCTURE IN ITS ORIGINAL NOTIFICATIONS. Status: Pending Summary: ON OCTOBER 25, 2024, ELLIOTT BECAME AWARE OF THE NOTICE FROM BAFIN DATED JULY 30, 2024 STATING THAT BAFIN HAD INITIATED ADMINISTRATIVE OFFENCE PROCEEDINGS AGAINST MR. SINGER, THE ULTIMATE CONTROL PERSON OF ELLIOTT. PURSUANT TO SUCH NOTICE, BAFIN IS PROVIDING AN OPPORTUNITY TO COMMENT ON THE FOREGOING ALLEGATIONS PRIOR TO DECIDING WHETHER TO TAKE ANY ACTION WITH RESPECT TO THIS MATTER. ELLIOTT IS SUBMITTING A WRITTEN RESPONSE TO BAFIN WITH RESPECT TO THESE ALLEGATIONS.