ALPINE RACING LTD SPEEDS UP ITS DEVELOPMENT AND ATTRACTS €200M FROM WORLD CLASS INVESTORS

Boulogne-Billancourt, New York & Los Angeles – June 26, 2023 – Renault Group and Alpine announced a €200 million investment from Otro Capital and their partner, RedBird Capital Partners, along with Maximum Effort Investments (together the “Investor Group”) in Alpine Racing Ltd; (representing a 24% equity stake). Alpine Racing Ltd, the world class F1 team that finished top 4 in the 2022 F1 World Championship, is the entity representing Alpine’s F1 team and activities, based in Enstone (UK).

The transaction values Alpine Racing Ltd around $900 million following this investment. It will accelerate Alpine’s growth plans and sporting ambitions in F1.

Alpine F1 team will benefit from the Investor Group’s collective expertise and track record in the sports industry including media, sponsorship, ticketing, hospitality, commercial rights management, licensing, and merchandising strategies to unlock incremental value creation and new growth levers. The Investor Group has a strong track record of company-building with recognized partners such as the Dallas Cowboys, Fenway Sports Group, the NFL, Toulouse FC and Wrexham AFC. Alpine F1 team will also benefit from the Investor Group's expertise in data and technology, key enablers of marketing and commercial performance.

Alec Scheiner, Co-Founder and Partner of Otro Capital, will join Alpine Racing Ltd’s Board of Directors.

Alpine Racing SAS, the entity manufacturing F1 engines in Viry-Châtillon, France, is not part of the transaction and will remain entirely owned by Renault Group.

Luca de Meo, CEO of Renault Group: “Formula 1 and Alpine are strategic assets for Renault Group. Over the past two years, we have re-ignited Alpine, capitalizing on its iconic A110 sports coupé, boosting it by entering Formula 1, where it aims to become a championship contender. This partnership will accelerate Alpine F1 development by diversifying revenue drivers and increasing brand value.”

Laurent Rossi, CEO of Alpine: “This association is an important step to enhance our performance at all levels. First, Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with strong track record in the sports industry, will bring their recognized expertise to boost our media and marketing strategy, essential to support our sporting performance over the long term. Second, the incremental revenue generated will in turn be reinvested in the team, in order to further accelerate our Mountain Climber plan, aimed at catching up with top teams in terms of state-of-the-art facilities and equipment.”

Alec Scheiner, Co-Founder and Partner of Otro Capital: “We are thrilled to have the opportunity to invest in Alpine F1. We believe in the management of the company, the value of the brand as well as the long-term trajectory of the sport. We believe that, along with our partners RedBird and Maximum Effort Investments, we can add value to Alpine's business operations and brand building, especially in North America.”

James Toney, Co-Founder of Maximum Effort Investments: “Maximum Effort Investments focuses on unlocking value through the power of storytelling, and we believe there is tremendous untapped potential in Alpine Racing. We are eager to help shine a light on this incredible team. We’re thankful to our partners at Otro Capital and RedBird Capital Partners and look forward to diving in with them, as well as our co-investors Michael B. Jordan and Rob McElhenney."

Otro and RedBird’s investment also includes participation from the Huntsman Family and Main Street Advisors.

Renault Group will detail Alpine’s strategy on June 26th, 2023 during its Alpine Future Tour. This event will be hosted by Luca de Meo, CEO of Renault Group, and Laurent Rossi, CEO of Alpine, in Enstone (UK).

The conference will take place from 1.00 pm (London time) / 2.00 pm (Paris time) and can be accessed remotely via the following link:

Alpine Future Tour link