Matas — M&A Activity 2013

Oct 2, 2013

Company announcement 29/2013 Allerød, 2 October 2013

Intention to extend trading terms with associated Matas stores after receipt of signed term sheets regarding the acquisition of six stores

Pursuant to the heads of agreement of 31 May 2013 with the associated stores, a condition for extending the time-limited trading terms from 31 October 2017 to 31 October 2025 including certain changes was, as stated in the offering circular of 13 June 2013 issued by Matas A/S, that Matas would be given the opportunity to acquire six identified associated stores with total revenues of DKK 80-95 million excluding VAT and that final agreements had been entered into with these six stores on or before 1 October 2013.

Matas A/S has received signed term sheets from the six associated stores, which means that an agreement has been reached on the general terms for the acquisition of the six stores. If, as expected, the final agreements for the acquisition of the six stores are entered into and the six stores are taken over on or before 1 November 2013, Matas A/S intends to enter into an agreement with the other associated stores to extend the heads of agreement, including the time-limited trading terms in the articles of association of the Matas store network from 31 October 2017 to 31 October 2025 subject to certain changes as set out in the heads of agreement, including:

• Matas A/S will have the right to charge the associated stores after 31 October 2017 in connection with the support, operation and maintenance of the associated stores' IT system for receipt of orders and management of inventories.
• The associated stores will have an obligation to pay for their share of costs relating to the Club Matas loyalty programme after 31 October 2017 based on an objective and documented basis.
• Matas will have an obligation to pay an agreed share of costs if it becomes necessary to replace the associated stores' current IT system for receipt of orders and management of inventories after 31 October 2017.

Matas A/S

For further information, please contact:

Jesper Breitenstein Head of Investor Relations Tel. +45 2780 7675

About Matas

Matas is the largest health and beauty retailer in Denmark. Since its incorporation in 1949 as an association of independently owned stores, the company has developed a strong reputation for professional advice and customer service excellence that it has leveraged to establish one of the best-known retail chains in Denmark. Matas offers a distinctive one-stop retail concept which serves a broad range of health, beauty, household and personal care needs. The company has more than 2,400 employees and in the financial year 2012/13, revenue amounted to DKK 3,200 million.

Matters discussed in this communication may constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and anticipated or planned financial and operational performance and can be identified by words such as "targets", "believes", "expects", "aims", "intends", "plans", "seeks", "will", "may", "might", "anticipates", "would", "could", "should", "continues", "estimate" or similar expressions. The forward-looking statements in this communication are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although Matas A/S believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this communication by such forward-looking statements.

The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice.