Bang & Olufsen

Related Party Transaction • Jun 30, 2021

Bang & Olufsen and HP extend partnership agreement

Bang & Olufsen and HP extend partnership agreement

Today, Bang & Olufsen and HP Inc. have agreed to extend their existing partnership for three more years, with options to extend the partnership for up to two more years. Since 2015 Bang & Olufsen and HP have had a close collaboration where HP sells select computers cobranded with and sound tuned by Bang & Olufsen.

The agreement between Bang & Olufsen and HP has been extended on similar terms as the current agreement and will continue to be royalty based.

The total license fee received by Bang & Olufsen continues to depend on the number of cobranded computers sold by HP.

Bang & Olufsen, CEO Kristian Tear:

“We are really pleased to extend our strong partnership with HP and continue to bring great sound and music experiences to consumers around the world using HP computers. This new agreement underlines the fruitful collaboration we have had with HP since 2015 and the value we bring to the customer experience.”

For further information, please contact:

Martin Raasch Egenhardt,

Investor Relations

Phone: +45 5370 7439

Jens Gamborg

Group Communications

Phone: +45 2496 9371

Attachment

• BO_2103_Extended partnership with HP_UK