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Palfingers Supervisory Board reflects Commitment of the Palfinger Family

SALZBURG/AUSTRIA, December 10, 2013 - At today’s meeting of the Supervisory Board, Alexander Doujak, Chairman of the Supervisory Board of Palfinger AG, announced his resignation as Chairman and member of the Board. Today Hubert Palfinger, until now Deputy Chairman of the Supervisory Board, was elected as the new Chairman and his brother Hannes Palfinger became the new Deputy Chairman.

Doujak has been with the PALFINGER Group for 18 years, holding numerous positions – first as a management consultant, since 2006 also as a member of the Supervisory Board of Palfinger AG and since 2010 as Chairman of the Supervisory Board. He was thus one of the trailblazers of Palfinger AG, making valuable contributions to the Company’s successful development. He sees his resignation as the final step in the ongoing generation change on the Supervisory Board. The Supervisory Board and the Management Board sincerely regret his retirement and would like to thank him for his support.

Hubert Palfinger, born in 1969, has held a seat on the Supervisory Board of Palfinger AG since 2005, acting as Deputy Chairman since 2008. The fact that he has now become Chairman of the Supervisory Board emphasizes the clear commitment of the Palfinger family as the Company’s long-term, stable majority owner, especially in light of the increasing internationalization of PALFINGER as well as the participation of the Chinese joint venture partner Sany.