TCM Group

Earnings Release • May 16, 2023

COMPANY ANNOUNCEMENT

No. 165/2023

Tvis, 16 May 2023

TCM GROUP A/S revise full-year financial guidance for 2023.

TCM Group revise the full year financial guidance for 2023 issued on 23 February 2023:

Adjusted outlook for 2023:

We reiterate our full year revenue guidance, but we revise our adjusted EBIT-guidance: Full year revenue is still expected to be in the range DKK 950-1,050 million (unchanged), while we now expect an adjusted EBIT in the range DKK 60-90 million (previously DKK 70-100 million).

For further information please contact:

Torben Paulin, CEO, TCM Group A/S, +45 21 21 04 64 Thomas Hjannung, CFO, TCM Group A/S, +45 97 43 52 00 IR Contact – ir@tcmgroup.dk

About TCM Group

TCM Group is Scandinavia's third largest manufacturer of kitchens and furniture for bathrooms and storage. The products are designed and produced in Denmark and rooted in a proud tradition of good quality and good craftsmanship. TCM Group pursues a multi-brand strategy, under which the main brand is Svane Køkkenet and the other brands are Tvis Køkken and Nettoline. Combined, the brands cater for the entire price spectrum, and are sold through c. 140 dealers in Denmark and the rest of the Scandinavia. TCM Group sells private label kitchens through DIY stores in Denmark and independent kitchen stores in Norway. TCM Group is supplier to the 45% owned e-commerce kitchen business Celebert, which operates under the brands kitchn.dk, billigskabe.dk, Celebert and Just Woods. See www.tcmgroup.dk for more information.