Answear.com S.A. — Earnings Release 2022

Jul 5, 2022

The Management Board of Answear.com SA (the_quot;Company_quot;) presents the preliminary selected sales data for Q2 2022 andH1 2022, together with comparative figures for Q2 2021 and H1 2021.

Preliminary sales figures for Q2 2022 and H1 2022:

- In Q2 2022, online sales (1) increased by 30%compared to the same period in 2021, amounting to PLN 198 million (Q22021: PLN 152 million). Online sales for H1 2022 amounted to PLN 364million and increased by 31% compared to H1 2021, when online sales ofPLN 278 million has been recorded.- Salesrevenue according to IFRS (2) reported for Q2 2022 amounted to PLN 196million achieving a 2Q2022 / 2Q2021 dynamic equivalent to 34% (Q2 2021revenues: PLN 146 million). Sales revenue for H1 2022 amounted to PLN374 million and increased by 39% compared to H1 2021 sales revenue beingPLN 270 million.

Management's commentary on the figures:

- The second quarter was characterised by strongsales of the summer collection, which was complemented by sales of thenew product category 'Home_amp;Lifestyle'. Consistently during the period,the Company broadened and deepened its offering especially in thepremium brand segment, while its own brand answear.LAB presented a newcollection _quot;Be Brave_quot;, inspired by strong and courageous women knownfrom the world of pop culture and art;

- market sentiment, heavily influenced in the firstquarter by the events in Ukraine, gradually recovered, delivering solidsales growth rates;- in May, theManagement decided to restart deliveries to customers on the Ukrainianmarket (see also current report no. 10/2022 dated 16 May 2022).Following the restart of the operations on this market, the Companyrecorded positive online sales growth in the period of two months (Mayand June) compared to the same two-month period last year;

- in June , the Company opened new,_#160;11thmarket - Slovenia - being the country with a high per capita incomeratio and a high awareness of premium brands as well as having potentialfor further optimisation of Answear.com's logistics service for theBalkan region;

- the Company continued to improve its operationalefficiency in the second quarter - improvement in operational andfinancial indicators, combined with the sales dynamics should -according to the Management Board opinion - end up with goodprofitability to be reported in that period.

Explanatory notes:

(1) On-line sales means salesinvoiced during the period, including also credit notes related toreturns received and booked during the period and also including salesbased on commission agreements with suppliers in its full price (netvalue) paid by customer. On-line sales include also charges invoiced tocustomers for shipments below the free delivery threshold.

(2) Sales revenues according toIFRS accounting standards include revenues from the sale of goodspurchased for its own account as well as revenues from the sales basedon commission agreement expressed as revenue from commission servicesbeing calculated as the difference between sales price invoiced tocustomer and value of merchandise sold. Moreover sales revenue includealso commission for running the www.wearmedicine.com internet site andcharges invoiced to customer for shipments below the free deliverythreshold. Sales revenues are also adjusted by the value of provisionsfor the returns corresponding to sales transactions executed duringreported period but expected to be processed in the next period.Moreover it also includes provision for customer loyalty programaccounted for sales recorded in reported period.

Disclaimer: The Company advisesthat the sales figures presented are preliminary and have beencalculated in accordance with the best Management's knowledge at thisstage and may differ from the final figures for Q2 2022 and H1 2022which will be published in quarterly report.