Musti Group Oyj - Inside information

Inside information: Musti Group Plc's Board of Directors has decided to withdraw the company's long-term financial targets and to amend the company's dividend policy

Inside information: Musti Group Plc's Board of Directors has decided to withdraw
the company's long-term financial targets and to amend the company's dividend
policy

Musti Group Plc                   Inside information                29 April
2024 at 7.00 p.m.

The Board of Directors of Musti Group Plc has decided to withdraw the company's
long-term financial targets, updated by the Board of Directors on 3 May 2021. In
addition, the Board of Directors has resolved to amend the company's dividend
policy as follows: The company's net profit shall be used towards financing the
company's growth and investments, and the company does not expect to distribute
dividends. The Board of Directors may however assess dividend distribution
annually.

"Following its review, the Board of Directors has decided to focus Musti's
efforts and profits towards further sustainable growth by amending the previous
dividend policy. We remain impressed by the work of Musti's employees and
management team and are confident that the company is on the right track to
create value to its pet parent customers and other stakeholders", says Cláudia
Azevedo, the Chair of the company's Board of Directors.

The previous long-term financial targets and dividend policy were the following:

  · Growth: Net sales to reach at least EUR 500 million by the financial year
2024 by continuation of strong customer acquisition momentum and increasing
share of wallet.
  · Profitability: Mid- to long-term adjusted EBITA margin of at least 13 per
cent with steadily improving profile. Margin increase is expected to be realised
through steady gross margin and improving operating leverage.
  · Capital structure: Maintain net debt in relation to adjusted EBITDA below
2.5x in the long term.
  · Dividend policy: To pay a dividend corresponding to 60-80 per cent of net
profit. Any potential dividend shall take into account acquisitions, the
company's financial position, cash flow and future growth opportunities.

Musti Group Plc

Board of Directors

Additional information:

Martin Svedholm, Director, Treasury and Investor Relations, tel. +358 50 579
0324

Distribution:
Nasdaq Helsinki
Pricipal media
www.mustigroup.com

Musti Group in brief

Musti makes the life of pets and their owners easier, safer and more fun. We are
the leading Nordic pet care company, and we operate an omnichannel business
model to cater for the needs of pets and their owners across Finland, Sweden and
Norway. We offer a wide, curated assortment of pet products. We also provide pet
care services such as grooming, training and veterinary services in selected
locations.

Musti Group's net sales were EUR 426 million in the financial year 2023. At the
end of the financial year 2023, the company had 1,643 employees, 1.5 million
loyal customers and 342 stores.

Forward-looking statements

This release contains statements that, to the extent they are not historical
facts, constitute "forward-looking statements". Forward-looking statements
include statements concerning plans, expectations, projections, objectives,
targets, goals, strategies, future events, future revenues or performance,
capital expenditures, financing needs, plans or intentions relating to
acquisitions, competitive strengths and weaknesses, plans or goals relating to
financial position, future operations and development, business strategy and the
trends in the industries and the political and legal environment and other
information that is not historical information. In some instances, they can be
identified by the use of forward-looking terminology, including the terms
"believes", "intends", "may", "will" or "should" or, in each case, their
negative or variations on comparable terminology. By their very nature, forward
-looking statements involve inherent risks, uncertainties and assumptions, both
general and specific, and risks exist that the predictions, forecasts,
projections and other forward-looking statements will not be achieved. Given
these risks, uncertainties and assumptions, investors are cautioned not to place
undue reliance on such forward-looking statements. Any forward-looking
statements contained herein speak only as at the date of this release.