EQS-CMS: Adtran Holdings, Inc.: Release according to Article 50 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution

On 25 January 2023, BlackRock, Inc. and its subsidiaries BlackRock, Inc., BlackRock Financial Management, Inc. and BlackRock Holdco 2, Inc. (together referred to as the “Notifying Parties”), London EC2N 2DL, United Kingdom, submitted, in connection with the voting rights notification pursuant to Sections 33, 34 WpHG, a notification according to Section 43 WpHG to Adtran Holdings, Inc. as set out below:

The crossing of the thresholds do not result from acquisitions by the Notifying Parties but from attributions from investment managers and advisors which qualify as subsidiaries of at least one of the Notifying Parties and to which the voting rights are attributed.

In respect of the aims underlying the purchase of the voting rights, we, the Notifying Parties, notify that:

1. The investments are aimed at both implementing strategic objectives and at generating a trading profit. This results from Notifying Parties’ overall intention to gain maximum returns for BlackRock’s clients on both a short and a long term basis.

2. We plan to acquire further voting rights within the next twelve months by means of a purchase or by any other means. Because our intention is to gain maximum returns for BlackRock’s clients and therefore we may also sell shares.

3. We intend to exert an influence on the appointment or removal of members of the issuer’s administrative, managing and supervisory bodies. We will continue to exercise our right to vote at the company's annual general meeting, and any special general meetings should they be called in the best interests of our clients.

4. We do not intend to achieve a material change in the company’s capital structure, in particular as regards the ratio between own funds and external funds and the dividend policy. However, we might vote on such topics in the same way we set out in no. 3.

In respect of the origin of the funds used, we, the Notifying Parties, notify that:
Client funds were used in order to finance the purchase of the voting rights.