Letter from the CEO June 2023

Dear shareholders,

I would like to begin this letter by expressing my gratitude for the support and trust that myself and THiS Group have received recently. In this CEO letter, I want to update you on recent developments and share what has been happening.

Regarding the stock market listing, the Board is aware that the delay in the listing process has raised questions among many shareholders. The reason for the prolonged planned listing is due to a series of unforeseen events that have caused delays in the listing process and incurred costs. In order to carry out a successful market listing, several management changes have now been implemented, which are described below, and the Board has also decided to carry out a rights issue.

A press release describing the rights issue is available as a link below. In summary, one (1) share will be issued for every 12 shares held at a price of SEK 3.50. To create the best possible conditions, a subscription option will be added, free of charge, for each subscribed share, which entitles the holder to purchase one (1) additional share at half the prevailing share price in February 2024. The Board's hope is that these terms will be relevant for subscribing to the rights issue and subsequently listing the B-shares.

The rights issue, with a liquidity date set for July 4th, is a prerequisite for the market listing, but it will also provide us with an opportunity to invest in our growth strategy. We look forward to seizing the opportunities available in the market and thus creating profitable growth for the company. We are also confident that our listing will open up new opportunities and contribute to increased visibility for THiS Group.

Regarding the operations, I would like to first inform you about some changes in our Board of Directors, which were decided at the general meeting. Last Tuesday, the annual general meeting elected a new Board, and at the constitutive Board meeting following the meeting, Björn Fjellsäter, an experienced Board member within THiS Group, was elected Chairman of the Board. Björn has demonstrated exceptional leadership and a deep understanding of our business, and we are confident that he will successfully lead us forward.

Unfortunately, Lars Åke Söderlund has expressed a desire not to be re-elected to the Board due to a significant international assignment. The Board thanks him for his contributions and expresses the hope that he can once again engage in Board work in the future when his assignment allows.

I am also proud to welcome Bo T:son Nyström to our Board. Bo is an experienced business leader with extensive experience in direct sales, sales management, and marketing. He has successfully worked in several consumer and specialty industries in Sweden and Scandinavia, including the Scandinavian duty-free market. His expertise and network will be an invaluable asset to our continued growth and expansion. Bo has successfully introduced a range of prominent brands to the market, and we look forward to benefiting from his knowledge and experience.

We have also strengthened our management team with two outstanding individuals. Anna Tenstam has joined us as Chief Commercial Officer (CCO). With over 35 years of experience in the global Life Science market and successful roles as CEO, founder, and chairman of companies in different countries and cultures, Anna will bring a deep understanding of the market and help us maximize our business opportunities.

Furthermore, Niclas Häggström has joined us as Chief Information Officer (CIO). Niclas has solid experience and expertise in IT and digital transformation. He will play a crucial role in strengthening our digital infrastructure and ensuring that we are equipped for future challenges.

Currently, our subsidiary Karuu has successfully started sales in the Asian market, and we have noticed a positive response from customers and stakeholders in the region, giving us great confidence for the future. By expanding our presence and offering our products to the Asian market, we are opening up new growth opportunities and strengthening our global presence.

I would also like to inform you that we have recently concluded successful negotiations for a distribution agreement in Dubai. This agreement will enable us to distribute our products in this important market. Dubai is a dynamic and prominent region, and we look forward to offering our products to the growing customer base there. We believe that this collaboration will create new opportunities for growth and success for THiS Group.

We have also entered into a significant partnership agreement with the Belgian sugar substitute producer, Zusto. Through this collaboration, we can now start selling our sugar substitute products to multiple customers in the Middle East. We have already received an initial order from Chocolala in Dubai, and we expect more orders soon. This partnership provides us with an opportunity to diversify our product portfolio while opening up exciting growth prospects in a growing market.

I would also like to take this opportunity to inform you that our subsidiary, Posterton, has undergone changes in its management team and will now focus on the B2B sector. Niklas Häggström is currently acting as CEO with the goal of expanding the B2B segment and e-commerce division. Our partner and co-owner, MIO, has announced that they will soon launch a checkout that will enable shared customer deliveries, something we have been looking forward to. We highly recommend visiting MIO.se and exploring not only our products but also their summer range.

Digitrust, which we acquired some time ago, has been integrated well into the group. The company will primarily serve as an internal resource for THiS Group but will also offer its services to other clients. The first contracts are expected to be signed during the autumn.

After a couple of very intense weeks, I would like to take this opportunity to wish all employees and shareholders a pleasant Midsummer while also reminding you that the liquidity date for the rights issue with subscription options is July 4th.

Subscription for the rights issue, including the subscription options, can be done via this link. If you have any questions, please email ir@thisgroup.se, and we will make sure to provide answers to your queries: https://emission.typeform.com/this-group

You can read the terms of the rights issue here: https://news.cision.com/se/this-less-is-more-group-ab--publ-/r/this-less-is-more-group-ab--publ--beslutar-om-foretradesemission-av-units-om-ca-10-msek,c3790985

Best regards,

Ali Farmandeh CEO, THiS Group AB, ali.farmendeh@thiscoop.org

Jacob Svensson
Investor Relations
ir@thisgroup.se

THiS Group is a publicly traded investment company with an interest in businesses that focus on health, well-being, and lifestyle through innovative and sustainable products and services. The company provides portfolio and subsidiary management within the framework of commercialization, capitalization, and digitalization. The goal is to improve margins, enhance competitiveness in target markets internationally, and ensure sustainable returns on investments for shareholders.