Announcement of a change in shareholding according to Chapter 9, Section 10 of the Finnish Securities Market Act

Musti Group plc                         Stock Exchange Release                                         6 March 2024 at 9.00 a.m.

Musti Group plc (the "Company") has on 5 March 2024 received a notification in accordance with the Chapter 9, Section 5 of the Finnish Securities Markets Act from Efanor Investimentos, SGPS S.E., according to which the holding of Flybird Holding Oy ("Sonae") of the shares and votes of the Company increased above the threshold of 50 percent on 5 March 2024.

Sonae holds a total of 17,181,593 shares rights corresponding to an ownership of 51.23 percent of the Company's shares.

Total positions of Sonae according to the notification:

% of % of shares and Total Total number of shares
shares voting rights of and voting rights of
and through financial both issuer
voting instruments (total in %
rights of B) (A +
(total B)
of A)
Resulting 51.23 - 51.23   33,535,453
situation on the
date on
which threshold
was crossed or
reached
Position of 15.85 - 15.85   33,535,453
previous
notification
(if applicable)

Notified details of the resulting situation on the date on which the threshold was crossed or reached:

A: Shares and voting rights

Class/type Number % of shares and voting rights
of shares of
shares
and
voting
rights
ISIN code Direct Indirect Direct Indirect
(if (SMA (SMA 9:6 and 9:7) (SMA 9:5) (SMA 9:6 and 9:7)
possible) 9:5)
FI4000410758 N/A 17,181,593 N/A 51.23
SUBTOTAL A N/A 17,181,593 N/A 51.23

B: Financial instruments according to the Finnish Securities Market Act 9:6a

Type of Expiration Exercise/ Physical or Number of shares % of shares
financial date Conversion cash and voting rights and voting
instrument period settlement rights
N/A
SUBTOTAL B N/A N/A

Full chain of controlled undertakings through which the voting rights and/or the

financial instruments are effectively held:

Name % of shares % of shares and votingrights Total of both
and voting throughfinancial instruments
rights

Efanor 0 0 0
Investimentos,
SGPS, S.E.
Sonae - SGPS, 0 0 0
S.A.
Sonae Holdings, 0 0 0
S.A.
Flybird Holding 51.23 0 51.23
Oy

Additional information

Martin Svedholm

Director, Treasury and Investor Relations

tel. +358 50 579 0324, martin.svedholm@mustigroup.com

Musti in brief

Musti makes the life of pets and their owners easier, safer and more fun. We are the leading Nordic pet care company, and we operate an omnichannel business model to cater for the needs of pets and their owners across Finland, Sweden and Norway. We offer a wide, curated assortment of pet products. We also provide pet care services such as grooming, training and veterinary services in selected locations.

Musti Group's net sales were EUR 426 million in the financial year 2023. At the end of the financial year 2023, the company had 1,643 employees, 1.5 million loyal customers and 342 stores.