Musti Group Plc                   Inside information                29 April 2024 at 7.00 p.m.

The Board of Directors of Musti Group Plc has decided to withdraw the company's long-term financial targets, updated by the Board of Directors on 3 May 2021. In addition, the Board of Directors has resolved to amend the company's dividend policy as follows: The company's net profit shall be used towards financing the company's growth and investments, and the company does not expect to distribute dividends. The Board of Directors may however assess dividend distribution annually.

"Following its review, the Board of Directors has decided to focus Musti's efforts and profits towards further sustainable growth by amending the previous dividend policy. We remain impressed by the work of Musti's employees and management team and are confident that the company is on the right track to create value to its pet parent customers and other stakeholders", says Cláudia Azevedo, the Chair of the company's Board of Directors.

• Growth: Net sales to reach at least EUR 500 million by the financial year 2024 by continuation of strong customer acquisition momentum and increasing share of wallet.
• Profitability: Mid- to long-term adjusted EBITA margin of at least 13 per cent with steadily improving profile. Margin increase is expected to be realised through steady gross margin and improving operating leverage.
• Capital structure: Maintain net debt in relation to adjusted EBITDA below 2.5x in the long term.
• Dividend policy: To pay a dividend corresponding to 60-80 per cent of net profit. Any potential dividend shall take into account acquisitions, the company's financial position, cash flow and future growth opportunities.

Musti Group Plc

Board of Directors

Additional information:

Martin Svedholm, Director, Treasury and Investor Relations, tel. +358 50 579 0324

Distribution:
Nasdaq Helsinki
Pricipal media
www.mustigroup.com

Musti Group 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.

Forward-looking statements

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