Operational update: Agreements and teams in place for continued rapid and profitable expansion

STOCKHOLM, 22 sep, 2021 09.30 CEST

Important events in summary:

iQ Fuel is growing rapidly through central listing at Circle K in Sweden and the S Group in Finland

• iQ Fuel has a central listing at Circle K in Sweden, and the functional drink has been launched at the chain's approximately 300 retailers.
• In November, iQ Fuel will also be launched via central listing on Finland's largest grocery chain, the S Group, which has around 1,100 stores in the country.

Comment: Central listing creates conditions for rapid expansion as the product becomes a central part of the chain's marketing and IT and distribution system.

Beijing8 - market investment, increased distribution and sales

• Collaboration with TV4 and Köket.se started in September.
• Sales of dumplings increased in September by about 100% compared with the previous year.
• Fuud's joint sales force has increased distribution coverage in Sweden by more than 40%.
• Doubling of production capacity to meet increased volumes before central listing at ICA, which starts from the end of September 2021.

Comment: With Fuud's joint sales force and a central listing at ICA, good conditions are created for continued rapid expansion

Investment in E-commerce

• Recruitment of experienced Growth Manager who took office in September. Ali Nouri, founder of the international watch brand Carl Edmond.
• Launch of central e-commerce during Q3-Q4 2021. Synergies between brands in the form of newsletters, campaigns, cross-selling, increased average orders, joint distribution / logistics.

Comment: Through e-commerce, conditions are created for faster and more cost-effective expansion and consistently higher gross margins.

Recruitment of key people

• Camilla Lönn took over as the new CFO on 1 September. Camilla has previous experience as CFO at Karo Pharma, CFO at Boomerang, Business Controller at Mobiloperatören 3 and Svenssons in Lammhult.
• Louise Nobel, former Marketing Manager for NOCCO at Vitamin Well and Marketing Manager at Spotify, will take over as Marketing Director for Fuud in November 2021.

Comment: An experienced team enables the potential for rapid and profitable expansion to be utilized.

Launch of Juicekultur - Pure juice from press to bottle

• The Juicekultur brand is launched during w.39 at 7-Eleven and Pressbyrån in Sweden.
• Juicekultur is Sweden's only organic fruit juice that is neither based on concentrate nor heat treated. Juicekultur is a real juice that is both organic and free of additives.

Comment: The launch of Juicekultur at 7-Eleven and Pressbyrån is a strategically important channel for both volume sales and brand exposure.

Launch of Barfly - Juice brand for the HORECA segment

• The Barfly brand has been launched on the juice market and is aimed at bars, restaurants and nightclubs.
• Competitive through the combination of long shelf life through cold pressing, high quality and organic products.

Comment: The juice market is characterized by rapid growth, and the consumption of drinks with bases of juices is large.

Released restrictions give strength to the collaboration with HockeyAllsvenskan

• Live audiences at Allsvenskan hockey matches are expected to increase sales and exposure through Fuud's collaboration with HockeyAllsvenskan.
• Released restrictions enable sales-related activities in the form of store events, competitions, tastings and sales at the arenas.

Comment: Collaborations in sports contexts are a powerful and cost-effective way to build brands.

Product development and news launches for Q1 2022

• A number of news and new product groups are planned for launch via central listings during the first quarter of 2022.

Comment: Organization and several central listings are in place, which creates conditions for a profitable and rapid expansion via new products.

Comment by CEO Peter Blom

Fuud is in a position to develop strongly in the coming years. In 2021, we changed the company's focus towards becoming a leading Functional Foods company in the Nordic region. Through acquisitions and organic growth, we will see a rapid improvement in profitability in 2022.

I am often asked if it has not become more difficult to find potential acquisition objects. My assessment is that I have probably never experienced that there are so many interesting and profitable candidates as now.

It can be added that through the right people and the right agreements, we can more easily and in a faster manner take leverage of future acquisitions. Our ambitious plan will continue to require that we have the right attitude, that we are serious and disciplined. Our started journey is ambitious in nature and is based on strong commercial foundations.

Our plan is to further strengthen our position in the Nordic region within Functional Foods with the goal of achieving a leading position by the end of 2025.

We are ready to take the next step in our geographical expansion. The next step means that we take the step into Denmark.

In the next year, we will launch several new products and brands. We have strengthened our organization to meet the new challenges, and Fuud currently has all the prerequisites to succeed. Fuud is an interesting alternative for shareholders who want to invest in Functional Foods. We look with confidence at our ability to continue to deliver rapid and increasingly profitable growth. - Peter Blom, September 2021.

For further information, please contact:

Peter Blom, CEO Fuud AB

Tel: +46 706 555 698

Email: peter.blom@fuudunited.com

About the Fuud Group

With the vision of being the Nordic market leader in 2025, Fuud brings together several exciting Swedish brands within Functional Foods under one roof, in order to jointly challenge the existing players in one of the food industry's fastest growing categories.

Fuud is growing through a combination of organic growth and acquisitions with a strong focus on high-quality content, exciting innovations and attractive design. Fuud's goal is to offer new and better alternatives than those already on the market, and at the same time contribute to both better health and increased quality of life for the Nordic population.

With a naturally built-in forward-thinking spirit, a strong and motivated sales force and a number of experienced key players in management and the board, Fuud has created a balance between muscle, drive and experience. The Fuud Group currently has the following brands: iQ Fuel, Homie, Beijing8, Juica, Juice Culture, Bacoccoli, Frill, Nathalie’s, Barfly and Bezzt of Nature.

The company is based in Stockholm and is listed on the Nasdaq First North Growth Market, short name Fuud. FNCA Sweden AB is the company's Certified Adviser. Tel. +46 (0) 8 528 00 399, email info@fnca.se