Kid ASA - Temporarily closing of stores following governmental restrictions

Lier, 25 January 2021:

As a consequence of the Norwegian authorities’ decision to temporarily close retail trade stores in 25 municipalities in and around the greater Oslo area, Kid has now closed 38 of its stores until 31 January 2021.Kid has initiated actions to reduce personnel costs and will today give notice of temporary layoffs to approximately 300 store employees (equal to approximately 100 full-time employees). More information regarding our stores is available on www.kidinterior.no

Kid monitors the situation closely and will initiate further actions to reduce costs if deemed necessary.

For further queries, please contact:

Anders Fjeld, CEO Kid ASA, +47 996 32 121
Eystein Lund, CFO Kid ASA, +47 906 02 127