Kid ASA

Investor Presentation • Feb 15, 2024

GROUP REVENUES increased by 13.0% (+0.7%).

GROSS MARGIN increased by 6.5 percentage points to 63.4% (56.9%).

OPEX increased by 6.9% excluding bonus expenses.

EBITDA increased by MNOK 123.1 to MNOK 419.9 (MNOK 296.8).

CASH FLOW from the operations is all time high.

HALF-YEAR DIVIDEND payment of NOK 3.50 per share, payable in May 2024.

Group revenues

We are proud to present another strong quarter with double digit growth. Our valuefor-money concepts remain resilient under the current demanding market conditions, and we see a strong momentum for our like-for-like stores. Growth in the quarter was further accelerated by our omnichannel and category development initiatives. In Q4, we reached alltime high quarterly revenues of MNOK 1,253 with online sales exceeding MNOK 150, representing an online share of 12.8%.

Extended concept

The Extended concept was launched in Norway in Q4-22 and comprise a new assortment including, among other things, sofas, carpets and beds. Revenues from the Extended assortment amounted to MNOK 14.6 in the quarter, of which MNOK 8.4 from online stores. As previously communicated, we will launch the Extended assortment online and in selected larger stores (+600 sqm.) in Hemtex during Q1-24. In addition, we will

increase the number of Extended stores (+1,200 sqm.) from 5 to 10 stores in Norway, and open 3 Extended stores in Sweden.

Gross margin

Our gross margin has improved as freight rates are back on historical levels and price adjustments implemented during Q1-23. We are closely monitoring the freight situation in the Red Sea / Gulf of Aden and are prepared to take necessary actions if considered necessary, as the current uncertain situation could potentially impact future freight rates and delivery time.

Technology and initiatives

In the fourth quarter, we successfully completed a significant transition from SAP, signifying a year filled with noteworthy events that included the implementation of a new Point of Sale (POS) system and a common Enterprise Resource Planning (ERP) system across the Group. This ensures a modern and effective IT infrastructure. Going forward, we

will continue to invest in, and develop, our systems.

Warehouse project in Sweden

The performance of the new warehouse in Sweden this quarter confirms a successful implementation and operation. Valuable experiences gained since its opening will be taken into account with regard to the planned expansion of the warehouse, in order to establish a joint warehouse for the Group in 2025 with necessary capacity for continued growth. In accordance with our progress plan, we have now taken over the plot and signed the contract agreement. We estimate that operations in the expanded warehouse and relocation from current warehouse in Norway will commence during 2025. The warehouse in Sweden is owned by a Joint Venture which is controlled by Kid (through Kid Eiendom AS) and Fabritius Gruppen AS on a 50/50 basis.

Kid Interior Hemtex

(Amounts million) in NOK	Q4 2023	Q4 2022	FY 2023	FY 2022
Revenue	1,253.2	1,108.6	3,413.6	3,178.0
¹ Like-for-like growth including online sales	9.3 %	1.8 %	% 5.5	3.1 %
COGS	-459.1	-478.1	-1,314.3	-1,331.6
profit Gross	794.1	630.4	2,099.3	1,846.4
(%) Gross margin	63.4%	56.9%	61.5%	58.1%
Other operating income	1.7	1.2	4.3	5.2
Employee benefits expense	-220.0	-176.4	-704.7	-629.9
Other operating expense	-240.5	-230.6	-854.0	-795.5
Other effect operating expense - IFRS 16	84.7	72.0	339.6	291.3
OPEX	-375.8	-334.9	-1,219.1	-1,134.1
EBITDA	419.9	296.8	884.5	717.5
(%) margin EBITDA	33.5%	26.7%	25.9%	22.5%
Depreciation	-26.7	-19.3	-92.6	-74.8
effect Depreciation - IFRS 16	-79.0	-68.1	-311.6	-273.5
EBIT	314.2	209.4	480.4	369.2
margin (%) EBIT	25.0%	18.9%	14.1%	11.6%
financial (expense) Net income	-6.3	-5.3	-33.3	-19.0
financial expense - IFRS 16 effect Net	-11.7	-7.5	-43.3	-28.5
Share of result from joint ventures	0.4	1.6	-1.2	-2.8
Profit before tax	296.6	198.2	402.5	318.9
income Net	233.4	159.0	313.8	249.2
Earnings per share	5.74	3.91	7.72	6.13
Liabilities financial institutions to	-521.7	-551.6	-521.7	-551.6
liabilities - IFRS 16 effect Lease	-1,084.9	-781.8	-1,084.9	-781.8
Cash	225.1	75.7	225.1	75.7
bearing debt Net interest	-1,381.5	-1,257.7	-1,381.5	-1,257.7

¹Calculated in constant currency

A robust fourth quarter in terms of basket size resulted in the second consecutive quarter of double -digit growth. Gross margin improved due to freight rates on historical level and price adjustments, in addition to limited need of seasonal sale in the period. Operating expenses (OPEX) increased due to general salary and price increases, as well as bonus expenses. In total, we achieved a record high EBITDA for the Group in the fourth quarter.

Group revenue s

Total Group revenue s increased by 13.0% (+0.7%), with consistent growth in every month of the quarter. In constant currency, revenues increased by 10.2% (+2.1%). Net new stores contributed positively.

The like -for -like revenue increase was 9.3% (+1.8%) in the quarter. Both Kid Interior and Hemtex experienced positive revenue development in both online and in physical stores.

Online revenues increased by 26.6% (+18.2%) in the quarter and represented 12.8% (11.0%) of total revenues.

Categories launched since 2017 accounted for MNOK 166.5 (MNOK 136.1) in revenues, of which the Extended assortment accounted for MNOK 14.6 (MNOK 0), of which MNOK 8.4 online and MNOK 6.2 in physical stores.

Gross margin

Both Kid Interior and Hemtex experienced increased gross margins compared to Q4 -22. The strengthened campaign activities in Hemtex, including Black Week and Cyber Week, affected margin negatively.

As previously communicated, the gross margin in Q4 -22 was unusually low as the high freight rates in 2022 were not sufficiently incorporated in our price calculation models.

Kid Interior Hemtex

Employee expenses increased by MNOK 43.6 to MNOK 220.0:

• MNOK 4.8 in LFL stores mainly due to general salary inflation. Working hours were stable following tight cost control
• MNOK 1.2 increase from net new stores
• MNOK 18.2 due to higher bonus expenses compared to last year
• MNOK 7.2 in HQ costs due to general salary increase and increased number of employees
• MNOK 8.0 in Logistics mainly due to the new central warehouse in Sweden presented as other operating expenses last year, in addition to increased logistics activity in Norway
• MNOK 4.2 due to changes in SEKNOK exchange rate

Other operating expenses decreased by MNOK -2.7 to MNOK 155.8:

• MNOK 9.3 in LFL stores, mainly related to index adjustment of rental costs and increased shared operating costs, however reduced due to decreased electricity costs
• MNOK 0.8 increase in net new stores
• MNOK 6.6 from increase of marketing cost
• MNOK -3.4 in HQ costs, mainly related to less use of external consultants and

logistics personnel, and reduced logistics operating material compared to previous year

• MNOK -10.5 in Logistics operating costs mainly due to personnel costs in Sweden, presented as employee expenses this year
• MNOK -10.5 related to change in IFRS 16 effects, reflecting the increase in rental cost in Logistics, HQ and stores due to index regulations, re-negotiated contracts and net new stores
• MNOK 5.0 due to changes in SEKNOK exchange rate

EBITDA increased compared to Q4-22 mainly due to increased revenues and improved gross margin and tight cost control.

Depreciation increased compared to last year and is mainly due investments in the new warehouse in Sweden and IFRS 16 effect related to the rental portfolio.

Net financial expenses of MNOK 18.0 (MNOK 12.8) relates to net interest expenses of MNOK 4.1 (MNOK 6.8), net other financial expenses of MNOK 0.5 (MNOK 0.0), net FX expenses of MNOK 1.7 (MNOK -1.5) and IFRS 16 interest expenses of MNOK 11.7 (MNOK 7.5).

Liquidity and borrowings During the quarter, dividends of MNOK 111.8 were paid. Furthermore, the draw on revolving credit facility was fully repaid of MNOK 160.0.

Excluding IFRS 16 effects, net interestbearing debt was MNOK 296.6 (MNOK 475.9) at the end of the quarter, corresponding to a gearing ratio of 0.54x (1.12x) of LTM EBITDA. The Group had cash and available credit facilities of MNOK 827.1 (MNOK 552.7) as of 31 December 2023, and has a satisfactorily liquidity situation.

Cash flow from operations is record high due to historically low net working capital (NWC) and strong profit in the period. NWC can partially be attributed to significant public payable due in February 2024, in addition to timing of payments.

Capital expenditures (CAPEX) amounted to MNOK 30.7 (MNOK 67.7) during Q4, mainly relating to store openings and refurbishments. Investments in the new warehouse in Sweden accounted for MNOK 0 (MNOK 16.6) in the quarter.

Personell Other Opex

376

KID Interior
(Amounts in NOK millions)	Q4 2023	Q4 2022	FY 2023	FY 2022
Revenue	768.5	703.4	2,122.9	1,983.6
Revenue growth	9.3 %	2.3 %	7.0 %	5.3 %
LFL growth including online sales	8.5 %	0.9 %	6.1 %	3.2 %
COGS	-265.2	-294.7	-796.2	-828.0
Gross profit	503.3	408.7	1,326.7	1,155.6
Gross margin (%)	65.5 %	58.1 %	62.5 %	58.3 %
Other operating revenue	0.0	0.0	0.1	0.1
Employee benefits expense	-140.7	-114.8	-436.5	-392.2
Other operating expense	-133.4	-127.2	-463.9	-434.4
Other operating expense - IFRS 16 effect	46.2	41.3	189.2	168.7
EBITDA	275.4	208.0	615.5	497.9
EBITDA margin (%)	35.8 %	29.6 %	29.0 %	25.1 %
No. of shopping days No. of physical stores at period end	7 9 157	8 1 156	306 157	308 156
Hemtex
(Amounts in NOK millions)	Q4 2023	Q4 2022	FY 2023	FY 2022
Revenue	484.7	405.2	1,290.7	1,194.4
Revenue growth ¹	11.9 %	1.7 %	3.2 %	3.2 %
LFL growth including online sales ¹	10.7 %	3.5 %	4.4 %	2.8 %
COGS	-193.9	-183.4	-518.0	-503.6
Gross profit	290.8	221.8	772.6	690.8
Gross margin (%)	60.0 %	54.7 %	59.9 %	57.8 %
Other operating revenue	1.7	1.2	4.2	5.1
Employee benefits expense	-79.4	-61.6	-268.2	-237.6
Other operating expense	-107.0	-103.3	-390.0	-361.3
Other operating expense - IFRS 16 effect	38.4	30.7	150.4	122.6
EBITDA	144.5	88.8	269.0	219.7
EBITDA margin (%)	29.7 %	21.8 %	20.8 %	18.3 %
No. of shopping days No. of physical stores at period end (excl. franchise)	9 1 119	9 1 119	362 119	362 119

¹ Calculated in local currency

*Fully-owned stores. Hemtex has an additional 11 franchise stores

Revenue s increased compared to last year, mainly due to increased basket size and footfall in both physical like -for like stores and online. The number of shopping days were reduced by two days to 79 (81) in total for the quarter.

Online revenues increased by +28.4% (+23.9%) to MNOK 81.9 (MNOK 63.8).

The Extended assortment accounted for MNOK 14.6 (MNOK 0) in revenue s for the quarter.

Gross margin increased by 7.4 percentage points driven by freight rates on historical levels in combination with price adjustments implemented during Q1 -23 .

Employee expenses increased by MNOK 25.9:

• MNOK 3.9 in LFL stores mainly due to general salary inflation
• MNOK 0.9 due to net new stores
• MNOK 15.4 due to higher bonus expense s
• MNOK 3.0 in HQ costs mainly due to increase in HQ staff as well as general salary increases
• MNOK 2.7 in Logistics due to increased activity

Bonus provision year -to -date amounted to MNOK 25.9 (MNOK 2.4).

Other operating expenses increased by MNOK 1.3 :

• MNOK 5.0 in LFL stores mainly related to index adjustment of rental costs and increased shared operating costs as well as last mile transportation costs related to Extended furniture produced in the Baltics, and somewhat reduced by decreased electricity costs
• MNOK 0.7 in net new stores
• MNOK 3.1 from increase of marketing cost
• MNOK -2.5 in HQ, mainly related to less use of external consultants and logistics personnel, and reduced logistics operating material
• MNOK -0.1 in Logistics mainly due to less repair and maintenance partly offset by higher costs for harbour fee
• MNOK -4.9 related to change in IFRS 16 effects, reflecting the increase in rental cost included in Logistics, HQ and stores due to index regulations, re -negotiated contracts and net new stores

Revenues increased, mainly due to increased basket size. The conclusion of "Hemtex 50 Years" campaign in October was an important growth driver, combined with increased campaign activity in Black Week and Cyber Week. The number of shopping days (91) in the quarter was unchanged compared to last year.

Online revenues increased by +24.8% (+12.6%) to MNOK 78.2 (MNOK 62.7) based on a constant currency calculation.

Hemtex 24h revenues increased by MNOK 0.4 compared to Q4-22. Reference is made to the Q1-23 report related to the termination of the agreement with ICA Gruppen, which impacted revenues this year.

Gross margin increased by 5.3 percentage points driven by freight rates on historical levels in combination with price adjustments implemented during Q1-23. The increased campaign activities in Hemtex, including Black Week and Cyber Week, affected margin negatively.

Employee expenses increased by MNOK 17.8:

• MNOK 0.9 in LFL stores due to general salary increase
• MNOK 0.4 due to net new stores
• MNOK 2.8 due to higher bonus expenses
• MNOK 4.1 in HQ due to correction of employee taxes last year, more services provided by HQ in Norway as well as general salary increases, partly offset by a reduced number of employees
• MNOK 5.3 in Logistics due to new employees following the inhouse logistic operations in Sweden
• MNOK 4.3 due to changes in SEKNOK exchange rate

Bonus provision year-to-date amounted to MNOK 3.8 (MNOK 0.0).

Other operating expenses decreased by MNOK -4.0:

• MNOK 4.2 in LFL stores, mainly related to index adjustment of rental costs and store expansions
• MNOK 0.2 in net new stores
• MNOK 3.5 from increase of marketing cost
• MNOK -0.9 in HQ mainly due to less use of temporary hired personnel as well as lower IT costs
• MNOK -10.4 in Logistics operating costs mainly due to personnel costs now presented as employee expenses of MNOK -5.3, as well as reduced other operating expenses
• due to the inhouse logistic operations • MNOK -5.6 related to change in IFRS 16 effects, reflecting the increase in rental cost in Logistics, HQ and stores due to index regulations, renegotiated contracts and net new stores
• MNOK 5.0 due to changes in SEKNOK exchange rate

The Board will propose to the Annual General Meeting a dividend payment of NOK 3.50 payable in May 2024. Together with the prepayment of NOK 2.75 from November 2023 this represent 81% of the net profit - in line with our Financial Objectives.

The board of directors will also propose to the Annual General Meeting that the board is given the authority to distribute additional half-year dividend in

November 2024 in accordance with the dividend policy and considering third quarter 2024 results.

We remain optimistic of our market position and growth initiatives going forward. However, we expect continued high cost inflation in 2024.

The Group paid a total of MNOK 340 in 2023 related to fixed store- and warehouse rent. The rent is subject to

Lier, 14 February 2024 The Board of Kid ASA

Petter Schouw-Hansen Chair

Karin Bing Orgland Board member

Rune Marsdal Board member

Liv Berstad Board member

Gyrid Skalleberg Ingerø Board member

Espen Gundersen Board member

Anders Fjeld Chief Executive Officer unusual high inflation in all our markets in 2023, the rent index regulation for 2024 will be in the range of 5-7%. There have been no other significant events after the end of the reporting period.

an annual index regulation. Due to

(Amounts in NOK thousand)	Note	Q4 2023	Q4 2022	FY 2023	FY 2022
		Unaudited	Unaudited	Unaudited	Audited
Revenue		1,253,169	1,108,573	3,413,595	3,177,991
Other operating revenue		1,692	1,228	4,270	5,236
Total revenue		1,254,861	1,109,801	3,417,866	3,183,227
Cost of goods sold		-459,106	-478,132	-1,314,280	-1,331,613
Employee benefits expense		-220,040	-176,390	-704,722	-629,892
	9
Depreciation and amortisation expenses		-105,711	-87,408	-404,136	-348,296
Other operating expenses		-155,808	-158,519	-514,371	-504,198
Total operating expenses		-940,665	-900,450	-2,937,508	-2,813,999
Operating profit		314,195	209,351	480,357	369,228
Financial income		3,766	3,482	10,844	4,948
Financial expense		-21,721	-16,261	-87,473	-52,476
Net financial income (+) / expense (-)		-17,954	-12,779	-76,630	-47,528
Share of result from joint ventures		388	1,618	-1,200	-2,787
Profit before tax		296,630	198,190	402,528	318,913
Income tax expense		-63,251	-39,157	-88,701	-69,668
Net profit (loss) for the period		233,378	159,034	313,827	249,245
Interim condensed consolidated statement of comprehensive income
Profit for the period		233,378	159,034	313,827	249,245
Other comprehensive income		-53,812	-56,076	62,695	154,152
Tax on comprehensive income		15,747	10,884	-8,335	-35,877
Total comprehensive income for the period		195,314	113,841	368,187	367,520
Attributable to equity holders of the parent		195,314	113,841	368,187	367,520
Basic and diluted Earnings per share (EPS):		5.74	3.91	7.72	6.13

(Amounts thousand) in NOK	Note	31.12.2023	31.12.2022
Assets		Unaudited	Audited
Goodwill	9	70,169	65,479
Trademark	9	1,513,851	1,510,224
Other intangible assets	9	46,699	35,326
Deferred tax asset		6,593	1,859
Total intangible assets		1,637,312	1,612,888
Right of use asset	9	1,050,028	760,734
and fittings , tools , office machinery and Fixtures
equipment	9	303,178	237,245
Total tangible assets		1,353,206	997,979
associated and Investments in companies joint ventures	1 0	1,013	0
Loans associated companies and joint to ventures	8	50,702	23,795
Total financial fixed assets		51,716	23,795
Total fixed assets		3,042,234	2,634,663
Inventories		576,279	668,753
Trade receivables		32,640	12,094
Other receivables		43,031	35,241
Derivatives		29,337	59,449
Totalt receivables		105,009	106,784
Cash and bank deposits		225,065	75,721
Total currents assets		906,353	851,259
Total assets		3,948,587	3,485,922

(Amounts thousand) in NOK	Note	31.12.2023	31.12.2022
Equity and liabilities		Unaudited	Audited
Share
capital		48,770	48,770
Share premium		321,050	321,050
Other paid-in-equity		64,617	64,617
Total paid-in-equity		434,440	434,440
Other equity		880,840	838,940
Total equity		1,315,280	1,273,380
Deferred tax		312,218	322,723
Total provisions		312,218	322,723
liabilities Lease		779,287	523,528
Liabilities financial institutions to	6	491,661	521,646
Total long-term liabilities		1,270,947	1,045,175
liabilities Lease		305,640	258,257
Liabilities financial institutions to	6	30,000	30,000
Trade payable		203,375	122,459
payable Tax		55,813	57,745
Public duties payable		209,941	167,139
Other short-term liabilities		191,626	201,815
Derivatives		53,748	7,229
Total short-term liabilities		1,050,144	844,644
Total liabilities		2,633,310	2,212,542
Total equity and liabilities		3,948,587	3,485,922

(Amounts in NOK thousand)	Total paid-in equity	Other equity	Total equity
Balance at 1 Jan 2022	434,440	828,209	1,262,660
Profit for the period YTD 2022	0	249,246	249,246
Other comprehensive income	0	118,276	118,276
Realized cash flow hedges	0	-92,623	-92,623
Dividend	0	-264,194	-264,194
Balance at 31 Des 2022	434,440	838,940	1,273,380
Balance at 1 Jan 2023	434,440	838,940	1,273,380
Profit for the period YTD 2023	0	313,827	313,827
Other comprehensive income	0	54,361	54,361
Realized cash flow hedges	0	-92,575	-92,575
Dividend	0	-233,710	-233,710
Balance at 31 Des 2023	434,440	880,842	1,315,282

(Amounts in NOK thousand)	Note	Q4 2023	Q4 2022	FY 2023	FY 2022
		Unaudited	Unaudited	Unaudited	Audited
Cash Flow from operation
Profit before income taxes		296,630	198,191	402,528	318,914
Taxes paid in the period		-9,101	-8,399	-74,940	-105,571
Depreciation & Impairment	9	105,711	87,408	404,136	348,296
Effect of exchange fluctuations		4,180	3,197	10,192	1,341
Change in net working capital
Change in inventory		162,657	199,196	111,538	-29,170
Change in trade debtors		-22,521	3,841	-20,231	9,135
Change in trade creditors		46,954	9,000	76,510	-34,347
Change in other provisions ¹		100,904	89,389	51,711	39,259
Net cash flow from operations		685,414	581,822	961,444	547,857
Cash flow from investment
Purchase of fixed assets	9	-22,218	-57,750	-163,697	-119,264
Loans to associated companies and joint ventures	8, 10	-5,000	282	-17,785	-23,795
Net Cash flow from investments		-27,218	-57,469	-181,481	-143,059
Cash flow from financing
Proceeds from long term loans		0	50,000	0	100,000
Proceeds from revolving credit facility				160,000	130,000
Repayment of revolving credit facility		-160,000	-130,000	-160,000	-195,118
Repayment of Term Loans		-20,000	-20,000	-30,000	-30,000
Overdraft facility		-45,853	-170,693	0	0
Lease payments for principal portion of lease liability		-72,982	-64,565	-296,250	-263,350
Dividend payment		-111,774	-101,613	-233,710	-264,194
Net interest		-19,912	-12,601	-79,743	-46,436
Net cash flow from financing		-430,522	-449,473	-639,703	-569,098
Cash and cash equivalents at the beginning of the period		0	6,481	75,722	239,331
Net change in cash and cash equivalents		227,674	74,881	140,260	-164,299
Exchange gains / (losses) on cash and cash equivalents		-2,609	-5,640	9,084	690
Cash and cash equivalents at the end of the period		225,066	75,721	225,066	75,721

¹ Change in other provisions includes other receivables, public duties payable, short-term liabilities and accrued interest.

Kid ASA and its subsidiaries` (together the "company" or the "Group") operating activities are related to resale of home and interior products in Norway, Sweden, Finland and Estonia. The Kid Group offers a full range of products comprising textiles, curtains, bed linens, furniture, accessories and other interior products. We design,source, market and sell these productsthrough ourstores as well as through our online sales platforms.

All amountsin the interim financial statements are presented in NOK 1,000 unless otherwise stated. Due to rounding, there may be differences in the summation columns.

These interim financialstatementsfor the fourth quarter of 2023 have been prepared in accordance with IAS 34, 'Interim financial reporting'. The interim financial statements should be read in conjunction with the consolidated financialstatements for the year ended 31 December 2022, which have been prepared in accordance with IFRS as adopted by the European Union ('IFRS').

The accounting policies applied in the preparation of the consolidated interim financial statements are consistent with those applied in the preparation of the annual IFRS financial statementsfor the year ended 31 December 2022. Amendmentsto IFRSs effective for the financial year ending 31 December 2023 do not have a material impact on the Group.

The Preparation of interim financial statementsrequires management to make judgments, estimates and assumptionsthat affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates.

In preparing these interim financialstatementsthe significant judgements made by managementin applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those applied to the consolidated financial statementsfor the year ended 31 December 2022.

Kid Group reports segmentsin accordance with how the chief operating decision maker makes, follows up and evaluatesits decisions. Within the Group, Kid Interior relatesto Norway and Hemtex relatesto Sweden with a few storesin Estonia and Finland. The Group also sells home textilesthrough the Group's online websites. Over 98% of the products are sold under own brands.

Q4 2023

(Amounts in NOK thousand)	KID Interior	Hemtex	Total
Revenue	768,514	484,654	1,253,169
COGS	-265,213	-193,893	-459,106
Gross profit	503,301	290,762	794,063
Other operating revenue	2	1,690	1,692
Operating expense (OPEX)	-227,866	-147,982	-375,848
EBITDA	275,437	144,469	419,906
Operating profit	217,168	97,027	314,195
Gross margin (%)	65.5 %	60.0 %	63.4 %
OPEX to sales margin (%)	29.7 %	30.5 %	30.0 %
EBITDA margin (%)	35.8 %	29.7 %	33.5 %
Inventory	377,550	198,729	576,279
Total assets	2,627,588	1,320,998	3,948,587

Financing agreements

During the quarter, a new term loan of MNOK 125 was signed related to the expansion of the warehouse in Sweden. At the balance sheet date, the Group has the following facilities:

	Utilised
(Amounts in NOK thousand)	31.12.2023		Facility Interest	Maturity	Repayment
Total term loan	521,700	521,700		15.05.2026	Instalments¹
Of which secured with fixed interest rate:
Denominated in NOK	395,000		395,000 Fixed rate at 1,876% + 1.25% ²
Denominated in SEK	45,000		45,000 Fixed rate at 1,460% + 1.25% ³
New term loan			125,000 3 months NIBOR + 1.69%	01/05/2027	Instalments⁴
Revolving credit facility	-		230,000 3 months NIBOR + 1.31%	27.04.2026	At maturity
Overdraft	0		247,000 1 week IBOR + 1.10%	12 months	At maturity
	521,700	1,123,700

¹MNOK 30 in annual instalments with bi-annual payments

²Fixed interest rate is secured through an interest rate swap of MNOK 395 maturing May 2029 and subject to hedge accounting

³Fixed interest rate and denomination in SEK is hedged through a cross currency interest swap of MNOK 115 maturing November 2024

⁴MNOK 25 in annual instalments with bi-annual payments

The effect of the change in fair value of the cross-currency interest swap is booked against foreign exchange gains/losses in Statement of profit and loss

	Q4 2023	Q4 2022	FY 2023	FY 2022
Weighted number of ordinary shares	40,645,162	40,645,162	40,645,162	40,645,162
Net profit or loss for the year	233,378	159,034	313,827	249,245
Earnings per share (basic and diluted) - NOK per share	5.74	3.91	7.72	6.13

The Group's related parties include its associates, joint ventures, key management and members of the board. None of the Board members have been granted loans or guarantees in the current quarter. Furthermore, none of the Board members are included in the Group's pension or bonus plans.

The following table provides the year-end balance that have been entered into with related parties during the fourth quarter of 2023 and 2022:

Related Party	FY 2023	FY 2022
Holding (Loan) Prognosgatan AS	50,702	23,795
Total	50,702	23,795

Additions on Right of use Assets during the quarter relates to new and renegotiated rental agreements for stores. Additions on PPE relates to investments in the new warehouse in Sweden as well as store openings and refurbishments.

	Right of use			Other
(amounts in NOK thousand)	Asset	PPE	Trademark	Intangibles	Goodwill
Balance 01.01.2023	760 734	237 245	1 510 224	35 327	65 479
Exchange differences	27 424	6 604	3 627	2 492	4 690
Additions, disposals and adjustments	573 430	143 676		17 110
Depreciation and amortisation	-311 560	-84 347		-8 229
Balance 31.12.2023	1 050 028	303 178	1 513 851	46 699	70 169

	Right of use			Other
(amounts in NOK thousand)	Asset	PPE	Trademark	Intangibles	Goodwill
Balance 01.01.2022	756 941	203 158	1 511 788	19 096	70 286
Exchange differences	-6 067	-3 867	-1 564	-775	-4 807
Additions, disposals and adjustments	283 391	108 854		20 871
Depreciation and amortisation	-273 530	-70 900		-3 865
Balance 31.12.2022	760 734	237 245	1 510 224	35 327	65 479

The Group had the following subsidiaries as of 31 December 2023:

Name	Place of business	Nature of business	Proportion of shares directly held by parent (%)
Kid Interiør AS	Norway	Interior goods retailer	100
Kid Logistikk AS	Norway	Logistics	100
Kid Eiendom AS	Norway	Logistics	100
Hemtex AB	Sweden	Interior goods retailer	100
Hemtex OY	Finland	Interior goods retailer	100
Kid International Logistic AB	Sweden	Logistics	100

All subsidiary undertakings are included in the consolidation.

The Group had the following joint ventures as of 31 December 2023:

Name	Place of business	Nature of relationship	Measurement method	Ownership share	Carrying amount
Prognosgatan Holding	Norway	Joint	Equity	%	1
AS		venture	method	50	013

The joint venture is reflected in the statement of profit and loss and the statement of financial position. The share of result from the joint venture for Q4-23 was MNOK 0.4 (MNOK 1.6). Furthermore MNOK 5.0 of the loan to JV was converted to equity. Per the reporting date, the carrying amount of the investment is MNOK 1.0 (MNOK -2.7 classified as other short-term liabilities).

Constant currency is the exchange rate that the Group uses to eliminate the effect of exchange rates fluctuations when calculating financial performance numbers.

EBIT (earnings before interest and tax) is operating profit. The performance measure is considered useful to the users of the financial statements when evaluating operational profitability.

EBIT margin is EBIT divided by total revenue. The performance measure is an important key figure for Kid Group and considered useful to the users of the financial statements when evaluating operational efficiency.

EBITDA is earnings before tax, interests, amortisation of other intangibles and depreciation and write-down of property, plant and equipment and right-of-use assets. The performance measure is an important key figure for Kid Group and considered useful to the users of the financial statements when evaluating operational profitability on a more variable cost basis as it excludes amortisation and depreciation expense related to capital expenditure.

EBITDA margin is EBITDA divided by total revenue. The performance measure is an important key figure for Kid Group and considered useful to the users of the financial statements when evaluating operational efficiency on a more variable cost basis as it excludes amortization and depreciation expenses.

Gearing ratio is defined as net interestbearing debt divided by LTM EBITDA excluding IFRS 16 effects.

Gross margin is defined as gross profit divided by revenue. The gross margin reflects the percentage margin of the sales revenue that the Group retains after incurring the direct costs associated with the purchase and distribution of the goods and is an important internal KPI.

Gross profit is defined as revenue minus the cost of goods sold (COGS). The gross profit represents sales revenue that the Group retains after incurring the direct costs associated with the purchase and distribution of the goods.

Like-for-like revenue are revenue from physical stores and online stores that were in operation from the start of last fiscal year all through the end of the current reporting period. Like-for-like (LFL) is calculated in constant currency.

Net Capital expenditure represent the cash flow from the investment spending in property, plant and equipment and other intangibles, less sale such asset.

Net Income is profit (loss) for the period.

OPEX-to-sales ratio is the sum of employee benefits expense and other operating expenses divided by revenue. The OPEX to sales ratio measures operating cost efficiency as percentage of sales revenue and is an important internal KPI.

Revenue growth represents the growth in revenue for the current reporting period compared to the same period the previous year. Revenue growth for Hemtex is calculated in constant currency. Revenue growth is an important key figure for the Group and users of financial statements as it illustrates the underlying organic revenue growth.

EBIT (earnings before interest and tax) is operating profit. The performance measure is considered useful to the users of the financial statements when evaluating operational profitability.

EBITDA is earnings before tax, interests, amortization of other intangibles and depreciation and write -down of property, plant and equipment and right -of -use assets. The performance measure is an important key figure for Kid Group and considered useful to the users of the financial statements when evaluating operational profitability on a more variable cost basis as it excludes amortisation and depreciation expense related to capital expenditure.

EBITDA margin is EBITDA divided by total revenue. The performance measure is an important key figure for Kid Group and considered useful to the users of the financial statements when evaluating operational efficiency on a more variable cost basis as is excludes amortisation and depreciation expense related to capital expenditure.

Gross profit is defined as revenue minus the cost of goods sold (COGS). The gross profit represents sales revenue that the

Group retains after incurring the direct costs associated with the purchase and distribution of the goods.

Gross margin is defined as gross profit divided by revenue. The gross margin reflects the percentage margin of the sales revenue that the Group retains after incurring the direct costs associated with the purchase and distribution of the goods and is an important internal KPI.

OPEX -to -sales ratio is the sum of employee benefits expense and other operating expenses divided by revenue. The OPEX to sales ratio measures operating cost efficiency as percentage of sales revenue and is an important internal KPI.

Thisreport includes forward -looking statements which are based on our current expectations and projections about future events. Allstatements other than statements of historical facts included in this report, including statementsregarding our future financial position,risks and uncertaintiesrelated to our business, strategy, capital expenditures, projected costs and our plans and objectivesfor future operations, including our plans for future costs savings and synergies may be deemed to be forward -looking statements. Words such as "believe," "expect," "anticipate,", "may," "assume," "plan," "intend," "will," "should," "estimate," "risk" and similar expressions or the negatives of these expressions are intended to identify forward -looking statements.

Kid ASA, Gilhusveien 1, 3426 Gullaug Customerservice: +31 00 20 00 www.kid.no

By their nature, forward -looking statementsinvolve known and unknown risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward looking statements are not guarantees of future performance. You should not place undue reliance on these forward looking statements. In addition, any forward -looking statements are made only as of the date of this notice, and we do not intend and do not assume any obligation to update any statementsset forth in this notice.