HUMBLE CONTINUES TO GROW THE DISTRIBUTION IN THE FUTURE SNACKING SEGMENT

Humble Group AB (publ) (“Humble” or the “Company”) continues to expand within the Future Snacking segment – ​​the category for reduced-sugar and more sustainable food and snack products. Among other things, the Company has expanded its domestic and international distribution for a number of its brands and carried out significant investments for continued high growth, increased capacity and quality.

The Future Snacking segment has continued to grow it’s distribution in both the Swedish and international markets. With a strong demand and an ambition to drive value in the category of healthier and more sustainable food and snack products, Humble has made significant investments to expand the product offering, continue to improve quality and for capacity improvement initiatives to meet the increased demand.

Humble's investments have resulted in several brands within the Future Snacking segment growing rapidly through expanded product offerings, won listings and continued international expansion. Below are examples of some of the most recent business events.

• Pändy has, through a successful collaboration with Humble's subsidiary First Class Brands, quickly become a top seller in the segment at ICA since its launch during week 19, with several products that have reached the top-5 in the sales lists.
   
• Wellibites has secured several strong listings, including at Life's and Dollarstore's all stores in Sweden, as well as launched for selected products at apotea.se, MEDS Apotek, apohem.se, Svenskt Kosttillskott, Proteinbolaget.se and selected ICA stores.
   
• Tweek has introduced several new flavors, including through new product collaborations with Probrands, which have been well received by our customers. Tweek has also increased product exposure through new listings with retailers such as Holland & Barrett, Snackfully and Epicurium in the UK and the Netherlands.
   
• True Gum has continued to expand its presence with new listings, including in the local market at Coop 365discount and through international expansion to, among others, Italy, Belgium, New Zealand and Germany, where True Gum's products are now found in some of the larger retailers such as Rossmann, dm-drogerie markt Deutschland, REWE Group, Countdown Supermarkets.

Following the completion of the Privab acquisitions, Humble has also developed a new by weight concept “Sweets With Benefits” in order to quickly accelerate the growth of sugar-reduced foods in the Swedish trade. The concept implies a new offer with sugar-reduced sweets, where the consumer can pick their own mix. The concept will be test-launched during the summer of 2023 and the aim is to roll out the concept on a larger scale during the second half of the year. The concept is the first commercial project to be launched from the Humble Incubator, where the Company aims to continuously launch new products and concepts through existing and new brands, in order to drive increased organic growth and capitalize on the manufacturing and distribution platform available in the group.

"Our products have reached a technical level where consumers no longer need to skimp on the taste in order to treat themselves and at the same time avoid ingesting high amounts of sugar and calories. We continue to see a growing demand with an increasing share of the total sale compared to regular confectionery and are convinced that Humble is in a unique position to continue to develop and accelerate the Swedish market's transition to healthier candy. There is also great potential in driving a similar transformation in the other Nordic countries as well as other important international markets, where the potential are many times bigger. Here we have the advantage of Humble already being a leading player and owns the major share of the market in Sweden and that we can show with data how it drives value and increases sales in the category. The global shift towards this type of snack and confectionery products is still in its infancy and we are well positioned to continue growing the market with innovative products through our own brands and also help external players as contract manufacturing partners." says Simon Petrén, CEO of Humble Group AB.

Humble is a leading brand owner and producer in the category for sugar-reduced and sustainable food and snack products. Through continuous innovation and a focus on quality and taste, Humble strives to offer products with less sugar and calories without compromising on taste, mouthfeel and texture.

For further information, please contact:
Simon Petrén, CEO, Humble Group AB
E-mail: simon.petren@humblegroup.se
Telephone: +468 61 32 888

The information in this press release has been published by the above contact person, at the time specified by Humble Group's news distributor Cision at the time of publication of this press release.

ABOUT HUMBLE
Humble Group is a Swedish food-tech and FMCG-group, supplying the next generation of products that are good for people and the planet. Humble targets the segments of foodtech, eco, sustainability and vegan to drive high organic growth, acquisitions and utilize synergies in the different operation entities: Brands, Distribution, Manufacturing and Ingredients and R&D. Humble’s technology solutions, refined through scientific research and extensive market experience, facilitate new formulations and recipes that improve the taste and texture of the next generation of sugar-reduced, sustainable and vegan products. For more information visit www.humblegroup.se

Humble is listed on Nasdaq Stockholm, First North Growth Market, under the ticker HUMBLE. FN Sweden AB is Humble’s certified adviser. Tel: 08-528 00 399 E-mail: info@fnca.se