Update on Electrolux operations in North America

Electrolux today announced that results for the business area Major Appliances North America will be significantly lower than anticipated in the first quarter.

Electrolux operations continue to be negatively impacted by the transition of the product ranges within refrigeration and freezers. This transition is a consequence of the new energy requirements imposed during the second half of 2014. Earnings are also affected by the ramp up of the cooking plant in Memphis, which has been slower than anticipated. Results for the business area in the first quarter 2015 will therefore be negative. Electrolux will publish its full report for the first quarter of 2015 on April 24 at 0800 CET.

A program to restore profitability and increase efficiency is under way. It will require most of 2015 before these actions will show full effect.

The preparation work for the integration of GE Appliances is progressing well and Electrolux remains confident that the transaction will be closed in 2015. During the integration planning, additional synergies of USD 50 million have been identified, in excess of the previously communicated USD 300 million. Total cost synergies are now estimated to USD 350 million.

For further information, 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 15.00 CET on April 8, 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.