Komplett ASA: The board is proposing that no dividend is to be paid for 2021 in order to reduce the planned share issue

Sandefjord, 10 May 2022: Reference is made to the stock exchange release by Komplett ASA ("Komplett" or the “Company”) dated 9 February 2022 on the combination with NetOnNet AB ("NetOnNet").

As stated in the release, Komplett has financed the NOK 1,500m cash consideration paid to the NetOnNet shareholder with a bridge loan maturing in April 2023 which Komplett at the time intended to replace with proceeds from the issuance of new shares in due course.

The board of directors is of the view that it is in the best interest of shareholders to reduce the size of the planned share issue in the current market. The board of directors has therefore decided that no dividend shall be proposed for 2021 and thereby reducing the need for new equity by approximately NOK 310m (based on the board’s former NOK 2.90 per share dividend proposal). The Company is also considering refinancing a portion of the remaining part of the NOK 1,500m bridge loan with long-term debt and thereby further reduce the size of the planned share issue.

The final financing structure will support Komplett’s dividend policy which remains a pay-out of 60-80% of net profit adjusted for any non-recurring and special items going forward.

For further inquiries, please contact:

Kristin Hovland, Head of Communication
Kristin.Hovland@komplett.com

Krister A. Pedersen, CFO
Krister.Pedersen@komplett.com

About Komplett ASA

Komplett Group is a leading online-first electronics and IT products retailer, operating in Norway, Sweden and Denmark. Serving customers in the B2C, B2B and distribution markets, the Group is deeply focused on delivering best in class customer experience, built through decades of knowhow, expertise and deep customer commitment. Komplett Group operates an efficiency and scalable business model that supports costs leadership and enables a competitive product offering.