As a result of the effects of the COVID-19, MQ has initiated measures to minimise the negative economic impact of this global pandemic and to respond to the reduced demand for shopping in person. Conversely, we are seeing clear growth in online shopping and in light of this we have introduced free shipping and returns for our customers. MQ will be taking action and reviewing the cost structure in several areas, including reprioritising and deferring costs and investments in non-critical segments of the business.

In order to safeguard the health and safety of our customers and employees, we have enhanced our in-store cleaning and hygiene procedures, with a focus on essential contact surfaces such as changing rooms and checkout counters. We are also postponing planned in-store customer events. MQ is adapting its staff resources to this diminished demand and is entering into negotiations regarding short-term temporary lay-offs of staff as demanded by the current situation. As part of this, we are implementing a number of measures such as reduced opening hours and staffing in our stores, increased allocation of product supply for online shopping and reductions to all costs and investments for this period.

We are also in discussion with all property owners regarding the level of rent during this challenging period and we are working together with Svensk Handel (the Swedish Trade Federation) to push for additional support measures for our industry

MQ is striving to protect the health and safety of its employees and customers and is focusing on measures to limit transmission of the virus in society. We are following developments closely and adjusting our actions in accordance with advice and regulations from local authorities, while striving to mitigate any disruption to our business. As the situation is hugely unpredictable, we cannot rule out the risk of future disruption in spite of all our precautions.

For further information, please contact:

Marie Sandahl, IR Manager, +46 (0)31-388 80 42

This constitutes information that MQ Holding AB (publ) is legally obliged to publish under the EU Market Abuse Regulation and the Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, on 25 March 2020 at 10.00 CET.