Europris

M&A Activity • Jan 31, 2024

Europris to exercise option for remaining 80 per cent of Runsvengruppen/ÖoB

Europris to exercise option for remaining 80 per cent of Runsvengruppen/ÖoB

Fredrikstad, 31 January 2024: Europris owns 20 per cent of Runsvengruppen AB. As

communicated in the notice from the company published 18 December 2023, the

tribunal ruled that Europris' option to acquire RuNor's shareholding in

Runsvengruppen had not expired. Europris has decided to exercise its option to

acquire ÖoB and the process to finalise the acquisition will now be initiated.

The preliminary option strike price of approximately NOK 211 million for the

remaining 80 per cent of the shares in Runsvengruppen will be settled with

treasury shares. The final purchase price will be based on an average of

Runsvengruppen's EBITDA for 2019 and 2020. The EBITDA for 2020 is not yet agreed

between the parties. Once EBITDA for 2020 is agreed or otherwise determined the

final purchase price will be settled.

ÖoB is one of the leading discount variety retailers in Sweden. The chain has

around 90 stores and an annual turnover of about SEK 4 billion. The ÖoB concept

is similar to that used by Europris, with a large product overlap - particularly

for non-food items. However, Europris' assessment is that ÖoB needs a turnaround

after several years of limited sales growth and weak profitability.

The group will provide the market with information on closing and when the final

purchase price has been settled. More information about operational plans for

ÖoB will be shared at a later stage.

For further inquiries, please contact:

CEO Espen Eldal, Europris, espen.eldal@europris.no, +47 48 29 24 24

CFO Stina Charlene Byre, Europris, stina.byre@europris.no, +47 41 10 58 08

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation article 17 and is subject to the disclosure requirements

pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock

exchange release was published by Trine Engløkken, Head of investor relations in

Europris ASA on the time and date set out in the notification.