Dividend payout

Musti’s long-term objectives include to pay a dividend corresponding to 60–80 percent of net profit. Any potential dividend shall take into account acquisitions, the company’s financial position, cash flow and future growth opportunities.

The Annual General Meeting resolved, in accordance with the proposal of the Board of Directors, that the profit for the financial year 1 October 2022 – 30 September 2023 be added to retained earnings and that no dividend will be paid. Instead, the Annual General Meeting resolved to authorize the Board of Directors, at its discretion, to decide on the payment of a return of capital of an aggregate maximum of EUR 0.60 per share from the Company‘s invested unrestricted equity reserve in one or more instalments later.

At the time of the Annual General Meeting, the offer period of the recommended public cash tender offer for the Company (the “Tender Offer”) by the consortium formed by Sonae Holdings, S.A., Jeffrey David, Chairman of the Board of Directors of the Company, Johan Dettel, a member of the Board of Directors of the Company and David Rönnberg, CEO of the Company, is still ongoing and the final results of the Tender Offer will only be known at a later date. As the offer document published on 15 December 2023 provides that the offer price payable in the Tender Offer shall be adjusted on a euro-for-euro basis should the Company declare or distribute dividend or otherwise distribute funds or any other assets to its shareholders, the Board of Directors’ authorization to pay return of capital only enters into force as of the publication of the final results of the Tender Offer.

The authorization is valid until the beginning of the next Annual General Meeting. The Company shall publish any decisions concerning the return of capital made by the Board of Directors pursuant to the authorization separately and will in connection therewith confirm the record date and the payment date applicable to the return of capital.

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