News Release：Announcement of Shareholder Change

Pioneer Corporation (“Pioneer”) and CarUX Holding Limited (“CarUX”), a leading innovator in smart cockpit solutions and a subsidiary of Innolux Corporation (3481.TW), have announced the signing of definitive agreements under which CarUX will acquire all shares in Pioneer from EQT.

Following the completion of this share transfer, Pioneer will join the Innolux Group and pursue further global growth.

The collaboration between CarUX and Pioneer presents significant opportunities for joint development―particularly in integrated cockpit solutions including audio technologies, and enhanced hardware-software integration. Together, the companies aim to deliver a more comprehensive product portfolio and customer experience, addressing the evolving needs of global automotive and consumer markets.

Sanjay Dhawan, Chairperson and independent director of Pioneer Corporation, said: “The automotive industry is undergoing a profound digital transformation, with digital content in vehicles rising from 27% to 40% and software playing an increasingly central role in cars. Under EQT’s ownership, Pioneer has embarked on a transformative journey―embracing innovation to lead in this new, software-defined era of mobility. This innovation has created substantial value across the board, benefiting customers, employees, and shareholders alike.”

Shiro Yahara, President and CEO of Pioneer Corporation, said: “We are delighted to welcome CarUX as our new shareholder as we advance our corporate vision of ‘Creating the Future of Mobility Experiences.’ CarUX brings global expertise and a proven track record in smart cockpit displays and vehicle solutions. Together with CarUX, we believe we can bring unprecedented integrated valued products to the industry. We are also grateful for EQT’s partnership and look forward to working with the Innolux Group to achieve further growth.”

Shane Predeek, Partner within EQT Private Capital, said: “We are proud to have helped revitalize one of Japan’s most iconic brands and reposition it for long-term success. This milestone marks an exciting new chapter for Pioneer, and we believe that there are synergies with CarUX and its parent company, Innolux, that will greatly benefit the business and its future potential. At EQT, we are committed to being responsible stewards of our companies―ensuring they are handed over to owners who can continue the momentum we’ve built and support their next phase of growth. This transaction also reflects EQT’s growing momentum in Japan, where we continue to execute on our strategy of building stronger, more resilient businesses with global ambition.”

Jim Hung, Chairman & CEO of Innolux Corporation and Chairman of CarUX, said: “This strategic acquisition not only expands CarUX's product and technological capabilities but also signifies Innolux's proactive move towards becoming an integrated smart cockpit supplier beyond automotive displays solutions. We are confident that the combined strengths of CarUX and Pioneer will drive innovation and create value for our customers.”

The share transfer is subject to regulatory approvals and other customary closing conditions and is expected to be completed by the fourth quarter of 2025. Details of the transaction have not been disclosed.

Deutsche Securities served as lead financial advisor, BofA Securities also acted as financial advisor, and Morrison Foerster, White & Case, and Nagashima Ohno & Tsunematsu served as legal counsel to EQT.

About Pioneer

Pioneer is a leading global manufacturer that has been developing an array of world-first products and services since its inception in 1938 based on its corporate mission of “Move the Heart and Touch the Soul.” Through our core car electronics business, we propose new and unique value by providing products and services that realize comfort, excitement, safety and security in vehicle interiors, utilizing unique and innovative ideas combined with cutting-edge technologies. We have formulated the goal of "Creating the Future of Mobility Experiences" as our corporate vision and are committed to transforming into a solution company that uses products and services to solve the myriad challenges of the mobility field. For more information on Pioneer,

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About EQT

EQT is a purpose-driven global investment organization with EUR 273 billion in total assets under management (EUR 142 billion in fee-generating assets under management) as of 31 March 2025, within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

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About Innolux

implements the core business philosophy of “More than Panel”, restructuring the business units into two domains, Display and Non-display. Display domain focuses on vertically integrated display applications, technological efficiency improvements, and operational synergies. Non-display domain extends to automotive, medical, Fan-Out Panel-Level Packaging and other fields, and provides customers with comprehensive solutions. Innolux has thirteen front-end fabs (including advanced packaging) located in Jhunan and Tainan in Taiwan, along with assembly facilities in China, including in Shanghai, Ningbo, and Foshan. Innolux Corporation (3481.TW) is listed on the Taiwan Stock Exchange (TWSE). The company’s 2024 consolidated revenue reached NT$ 216.5 billion. For more information,

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About CarUX

Headquartered in Singapore with operational and manufacturing sites in Asia and four R&D centers in Europe and Asia, CarUX focuses on the design, development, and production of smart cockpit display solutions that enhance the in-vehicle user experience. With over 20 years of experience as a Tier-1 supplier, CarUX has established long-term partnerships with leading global OEMs. Known for its innovation, product quality, and customer-centric approach, CarUX is trusted by many of the world’s top automotive brands.