OMA SAVINGS BANK PLC STOCK EXCHANGE RELEASE, 29 JUNE 2023 AT 13.31 P.M. EET, OTHER INFORMATION DISCLOSED ACCORDING TO THE RULES OF THE EXCHANGE

Oma Savings Bank Plc’s composition of Shareholders’ Nomination Committee

According to the shareholder list on 1 June 2023, representatives of the five largest shareholders have been appointed to the Nomination Committee of Oma Savings Bank Plc (OmaSp):

• Raimo Härmä, appointed by Etelä-Karjalan Säästöpankkisäätiö
• Ari Lamminmäki, appointed by Parkanon Säästöpankkisäätiö
• Jouni Niuro, appointed by Liedon Säästöpankkisäätiö
• Aino Lamminmäki, appointed by Töysän Säästöpankkisäätiö
• Simo Haarajärvi, appointed by Kuortaneen Säästöpankkisäätiö

The Nomination Committee elects a Chairman from among its members.

The Nomination Committee prepares proposals for the election of the Board of Directors and the remuneration of the Board of Directors to the Annual General Meeting and, if necessary, for an Extraordinary General Meeting. OmaSp’s five largest shareholders each have the right to appoint one representative to the Nomination Committee. The Nomination Board should give their recommendations regarding the members of the Board of Directors and their respective compensations to the Board of Directors by the end of January preceding the Annual General Meeting. In the case of an Extraordinary General Meeting, the Nomination Committee should accordingly give their respective recommendations well in advance before the General Meeting, taking into account applicable regulations. The Chairman of the Board of Directors acts as the convener. The Nomination Committee complies with the rules of procedure approved by the Annual General Meeting.

Oma Savings Bank Plc

Additional information:
Minna Sillanpää, CCO, tel. +358 50 66592, minna.sillanpaa@omasp.fi

DISTRIBUTION
Nasdaq Helsinki Ltd
Major media
www.omasp.fi

Oma Savings Bank in short

OmaSp is a growing Finnish bank and the largest savings bank in Finland based on total assets. About 450 professionals provide nationwide services through OmaSp’s 45 branch offices and digital service channels to over 200,000 customers. OmaSp focuses primarily on retail banking operations and provides its clients with a broad range of banking services both through its own balance sheet as well as by acting as an intermediary for its partners’ products. The intermediated products include credit, investment and loan insurance products. OmaSp is also engaged in mortgage banking operations.

OmaSp core idea is to provide personal service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to offer premium level customer experience through personal service and easy accessibility. In addition, the development of the operations and services is customer-oriented. The personnel is committed and OmaSp seeks to support their career development with versatile tasks and continuous development. A substantial part of the personnel also own shares in OmaSp.

SANTA MONICA, Calif., June 29, 2023 (GLOBE NEWSWIRE) — Macerich (NYSE: MAC), one of the nation’s leading owners, operators and developers of one-of-a-kind retail and mixed-use properties in top markets, today announced that Primark has opened a new Long Island store at Green Acres Mall.

Irish retail brand Primark is a leading international clothing retailer that draws shoppers to the high street worldwide with its wide selection of essentials and fashion favorites built around everyday affordability. At Green Acres, Primark is located in Center Court, adjacent to another prominent international retailer scheduled to open in Fall 2023. The two retailers replace a former JCPenney, revitalizing the space and demonstrating Macerich’s continued success in redeveloping underused property elements across its portfolio.

Green Acres Mall marks Primark’s seventh store at a Macerich property and seventh in New York State. Set just east of New York City on the border of Queens and Nassau counties in the diverse, idyllic Long Island villages, Green Acres Mall is a popular retail destination for residents and visitors alike. At more than 2 million square feet, Green Acres is the nation’s 18^th-largest enclosed shopping center, with over 150 exciting retailers and restaurants to choose from.

“Primark has won over millions of shoppers around the world with its global style for fashion and the home, and we’re excited to be part of Primark’s plan to have 60 U.S. stores by 2026,” said F.K. Grunert, Executive Vice President, Leasing, Macerich. “The enthusiasm for this store opening has been palpable for months. We are pleased that our guests can finally see what Primark is all about as they experience the rest of Green Acres Mall.”

Macerich is one of Primark’s largest U.S. landlords, with Primark stores open at Kings Plaza (Brooklyn), Danbury Fair (Connecticut), Fashion District Philadelphia, and Freehold Raceway Mall (New Jersey), and opening soon at Queens Center (Brooklyn) and Tysons Corner Center (McClean, Virginia).

Located in Valley Stream, New York, Green Acres Mall is ideally situated within the Long Island villages and, along with neighboring Green Acres Commons, offers a wide variety of desirable shopping, dining and entertainment brands around, including stores like Macy’s, Target, Walmart, Burlington, H&M, Old Navy, Victoria’s Secret, Pandora, Home Depot, Aldi, Home Goods, Ulta Beauty, 24 Hour Fitness, DICK’S Sporting Goods and BJ’s Wholesale Club, and restaurants such as BJ’s Restaurant & Brewhouse, Olive Garden, Red Lobster and Buffalo Wild Wings.

About Macerich
Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns 47 million square feet of real estate consisting primarily of interests in 44 regional town centers, many of which contain mixed uses. Macerich is firmly dedicated to advancing environmental goals, social good and sound corporate governance. A recognized leader in sustainability, Macerich has achieved a #1 Global Real Estate Sustainability Benchmark (GRESB) ranking for the North American retail sector for eight consecutive years (2015-2022). For more information, please visit www.Macerich.com.

Macerich uses, and intends to continue to use, its Investor Relations website, which can be found at investing.macerich.com, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Additional information about Macerich can be found through social media platforms such as LinkedIn. Reconciliations of non-GAAP financial measures, including NOI and FFO, to the most directly comparable GAAP measures are included in the earnings release and supplemental filed on Form 8-K with the SEC, which are posted on the Investor Relations website at investing.macerich.com.

MAC-L
SOURCE: Macerich

MEDIA CONTACT: Karen Maurer, Macerich, 602-708-6311, Website: http://www.macerich.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b673a6a2-5fd7-403e-9090-99ab9a7e740d

 

OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE 29 JUNE 2023 AT 13.30 P.M. EET, OTHER INFORMATION DISCLOSED ACCORDING TO THE RULES OF THE EXCHANGE

Oma Savings Bank Plc updates its medium-term financial goals regarding comparable return on equity and capital adequacy

At its meeting on 29 June 2023, the Board of Directors of Oma Savings Bank Plc (OmaSp or the Company) has updated its medium-term (3-5 years) financial goals as part of its strategy process and updates its medium-term return on equity and capital adequacy. The Company’s updated target level for comparable return on equity (ROE) is at least 16 percent instead of the previous 10 percent. The updated target level for the Common Equity Tier 1 (CET1) capital ratio is at least 2 percentage points above the regulatory requirement instead of the previous target of at least 14 percent. The updated target levels will be effective from 1 July 2023.

The Company’s Board of Directors has confirmed the following financial goals as of 1 July 2023:

• Growth: 10-15 percent annual growth in total operating income under the current market conditions.
• Profitability: Cost/income ratio less than 45 percent.
• Return on equity (ROE): Long-term return on equity (ROE) over 16 percent.
• Capital adequacy: Common Equity Tier 1 (CET1) capital ratio at least 2 percentage points above the regulatory requirement.

The Board of Directors of Oma Savings Bank Plc

Additional information:
Pasi Sydänlammi, CEO, tel +358 45 657 5506, pasi.sydanlammi@omasp.fi
Sarianna Liiri, CFO, tel +358 40 835 6712, sarianna.liiri@omasp.fi
Minna Sillanpää, CCO, tel +358 50 66592, minna.sillanpaa@omasp.fi

Distribution:
Nasdaq Helsinki Ltd
Major media
www.omasp.fi

OmaSp is a growing Finnish bank and the largest savings bank in Finland based on total assets. About 450 professionals provide nationwide services through OmaSp’s 45 branch offices and digital service channels to over 200,000 private and corporate customers. OmaSp focuses primarily on retail banking operations and provides its clients with a broad range of banking services both through its own balance sheet as well as by acting as an intermediary for its partners’ products. The intermediated products include credit, investment and loan insurance products. OmaSp is also engaged in mortgage banking operations.

OmaSp core idea is to provide personal service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to offer premium level customer experience through personal service and easy accessibility. In addition, the development of the operations and services is customer-oriented. The personnel is committed and OmaSp seeks to support their career development with versatile tasks and continuous development. A substantial part of the personnel also own shares in OmaSp.

COMPANY ANNOUNCEMENT

No. 174/2023

Tvis, 29 June 2023

Major shareholder announcement
Referring to section 30 of the Capital Markets Act, TCM Group A/S (the “Company”), can inform, that Taiga Investment Funds PLC has notified, that their aggregate holding of shares amounts to less than 5% as of 29 June 2023.

For further information please contact:
Torben Paulin, CEO, TCM Group A/S, +45 21 21 04 64

About TCM Group

TCM Group is Scandinavia’s third largest manufacturer of kitchens and furniture for bathrooms and storage. The products are designed and produced in Denmark and rooted in a proud tradition of good quality and good craftsmanship. TCM Group pursues a multi-brand strategy, under which the main brand is Svane Køkkenet and the other brands are Tvis Køkken and Nettoline. Combined, the brands cater for the entire price spectrum, and are sold through c. 140 dealers in Denmark and the rest of the Scandinavia. TCM Group sells private label kitchens through DIY stores in Denmark and independent kitchen stores in Norway. TCM Group is supplier to the 45% owned e-commerce kitchen business Celebert, which operates under the brands kitchn.dk, billigskabe.dk, Celebert and Just Wood. See www.tcmgroup.dk for more information.

• 174. Major shareholder announcement

June 29, 2023

MONTHLY DISCLOSURE OF THE TOTAL NUMBER OF SHARES AND VOTING RIGHTS

Articles L. 233-8 II of the Commercial Code and 223-16 of the General Regulation of the AMF

Date	Shares	Voting rights
		Theoretical*	Exercisable**
31 May 2023	44,253,225	49,733,907	49,142,847

*This number is calculated on the basis of all the shares to which voting rights are attached, including shares which voting rights have been suspended, in accordance with Article 223-11 of the AMF general regulation related to the calculation of the crossing of thresholds with regard to the number of voting rights.

**For information purposes, this number excludes the shares which voting rights have been suspended.

The information is also available in the « Regulated Information » section of the Ipsos website: https://www.ipsos.com/en/regulated-informations/en.

 

• Ipsos_Monthly declaration of voting rights_May 2023

Company announcement no. 16-2023

Copenhagen June 29, 2023

Konsolidator enters market maker agreement with Pareto Securities AB

Today, Konsolidator has entered a market maker agreement with Pareto Securities AB, where Pareto Securities AB will promote the liquidity in the Konsolidator share. The agreement commences on July 3, 2023 and will remain in force until terminated by either Konsolidator or Pareto Securities AB.

Besides promoting the liquidity in the share, the agreement with Pareto Securities AB also undertakes to quote bid- and ask- orders in the Konsolidator share with the intention to reduce the spread between the bid and ask prices. The agreement has been concluded with reference to Nasdaq Nordic’s Member rules.

CFO Jack Skov comments, “With a market maker agreement we will improve the shareholder interest by securing a higher liquidity in the share as well as securing a maximum spread between the bid and ask price. High liquidity and low spread will make it easier for shareholders to trade our share which we believe will benefit all shareholders.”

Contacts

Certified Adviser

About Konsolidator
Konsolidator A/S is a financial consolidation software company whose primary objective is to make Group CFOs around the world better through automated financial consolidation and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a vital part of strategic decision-making. Konsolidator was listed at Nasdaq First North Growth Market Denmark in 2019. Ticker Code: KONSOL

• Konsolidator Company announcement no 16-2023

LA JOLLA, Calif., June 29, 2023 (GLOBE NEWSWIRE) — MediciNova, Inc., a biopharmaceutical company traded on the NASDAQ Global Market (NASDAQ:MNOV) and the Standard Market of the Tokyo Stock Exchange (Code Number: 4875), today announced that Principal Investigator, Lara Ray, PhD, Professor, Department of Psychology, University of California Los Angeles (UCLA) presented the results of the Phase 2b trial of MN-166 (ibudilast) in alcohol use disorder (AUD) at the 46th Annual Research Society on Alcoholism (RSA) Scientific Meeting held June 24 – 28, 2023, in Bellevue, Washington.

The clinical trial was a collaborative effort between MediciNova and Dr. Lara Ray, Professor, Department of Psychology and Department of Psychiatry and Biobehavioral Sciences, Brain Research Institute at UCLA, and was funded by the National Institute on Alcohol Abuse and Alcoholism (NIAAA), a component of the National Institutes of Health (NIH).

This study was a randomized, double-blind, placebo-controlled, Phase 2b clinical trial in treatment-seeking men and women with moderate or severe AUD. Participants took MN-166 (ibudilast) 50 mg or placebo twice a day for 12 weeks. A total of 102 subjects were enrolled in this trial. The primary objective of the trial was to evaluate the effects of MN-166 (ibudilast) vs. placebo on percent heavy drinking days defined as ≥5 drinks for men and ≥4 drinks for women over the course of a 12-week treatment period.

MN-166 (ibudilast) treatment was not superior to placebo for reducing percent heavy drinking days. Also, MN-166 (ibudilast) treatment was not superior to placebo for the secondary endpoints of 1) the number of drinks consumed per day, 2) the number of drinks consumed per drinking day, 3) the percentage of days abstinent, 4) the percentage of subjects with no heavy drinking days, and 5) the percentage of subjects who are abstinent.

Kazuko Matsuda MD, PhD, MPH, Chief Medical Officer of MediciNova, Inc. commented, “Unfortunately, there was no evidence of efficacy of MN-166 treatment for AUD in this study population, the first study targeting “treatment-seeking” individuals who met the criteria for moderate or severe AUD. We observed a so-called placebo effect – both placebo and MN-166 treatments decreased heavy drinking by equal magnitudes. We look forward to future discussions with Dr. Ray on further analyses, including subgroup analyses, and the future direction of MN-166 and AUD.”

About the Clinical Trial

This study was a randomized, double-blind, placebo-controlled, outpatient clinical trial that targeted treatment-seeking men and women who met current DSM-5 diagnostic criteria for moderate or severe AUD. Participants took MN-166 (ibudilast) 50 mg or placebo twice a day for 12 weeks and completed the NIAAA-developed computer-delivered program “Take Control” during the study. The primary objective of the trial was to test whether MN-166 (ibudilast) will decrease percent heavy drinking days (defined as ≥5 drinks for men and ≥4 drinks for women), as compared to placebo, over the course of the 12-week treatment period. The secondary objectives were to evaluate the efficacy of MN-166 (ibudilast) on 1) the number of drinks consumed per day, 2) the number of drinks consumed per drinking day, 3) the percentage of days abstinent, 4) the percentage of subjects with no heavy drinking days, and 5) the percentage of subjects who were abstinent, as well as measures of alcohol craving and negative mood, over the course of the 12-week treatment period. Exploratory endpoints included evaluation of whether the effects of MN-166 (ibudilast) on the primary and secondary endpoints are moderated by depressive symptomatology and whether MN-166 (ibudilast) reduces neuroinflammation over the course of the 12-week treatment period.

About Alcohol Use Disorder

Alcohol use disorder (AUD) is a prevalent and disabling psychiatric disorder with limited treatment options.  AUD is a chronic relapsing brain disease characterized by compulsive alcohol use, loss of control over alcohol intake, and a negative emotional state when not using alcohol.  According to the National Institute on Alcohol Abuse and Alcoholism (NIAAA), an estimated 29.5 million people in the U.S. have AUD and only 5% received treatment for the disease in the past year. There is a high unmet medical need for better treatments for AUD.

About MN-166

MN-166 (ibudilast) is a small molecule compound that inhibits phosphodiesterase type-4 (PDE4) and inflammatory cytokines, including macrophage migration inhibitory factor (MIF). It is in late-stage clinical development for the treatment of neurodegenerative diseases such as ALS (amyotrophic lateral sclerosis), progressive MS (multiple sclerosis), and DCM (degenerative cervical myelopathy); and is also in development for glioblastoma, CIPN (chemotherapy-induced peripheral neuropathy), Long COVID, and substance use disorder. In addition, MN-166 (ibudilast) was evaluated in patients that are at risk for developing acute respiratory distress syndrome (ARDS).

About MediciNova

MediciNova, Inc. is a clinical-stage biopharmaceutical company developing a broad late-stage pipeline of novel small molecule therapies for inflammatory, fibrotic, and neurodegenerative diseases. Based on two compounds, MN-166 (ibudilast) and MN-001 (tipelukast), with multiple mechanisms of action and strong safety profiles, MediciNova has 11 programs in clinical development. MediciNova’s lead asset, MN-166 (ibudilast), is currently in Phase 3 for amyotrophic lateral sclerosis (ALS) and degenerative cervical myelopathy (DCM) and is Phase 3-ready for progressive multiple sclerosis (MS). MN-166 (ibudilast) is also being evaluated in Phase 2 trials in glioblastoma, Long COVID, and substance dependence. MN-001 (tipelukast) was evaluated in a Phase 2 trial in idiopathic pulmonary fibrosis (IPF) and a second Phase 2 trial in non-alcoholic fatty liver disease (NAFLD) is ongoing. MediciNova has a strong track record of securing investigator-sponsored clinical trials funded through government grants.

Statements in this press release that are not historical in nature constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the future development and efficacy of MN-166, MN-001, MN-221, and MN-029. These forward-looking statements may be preceded by, followed by, or otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “estimates,” “projects,” “can,” “could,” “may,” “will,” “would,” “considering,” “planning” or similar expressions. These forward-looking statements involve a number of risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Factors that may cause actual results or events to differ materially from those expressed or implied by these forward-looking statements include, but are not limited to, risks of obtaining future partner or grant funding for development of MN-166, MN-001, MN-221, and MN-029 and risks of raising sufficient capital when needed to fund MediciNova’s operations and contribution to clinical development, risks and uncertainties inherent in clinical trials, including the potential cost, expected timing and risks associated with clinical trials designed to meet FDA guidance and the viability of further development considering these factors, product development and commercialization risks, the uncertainty of whether the results of clinical trials will be predictive of results in later stages of product development, the risk of delays or failure to obtain or maintain regulatory approval, risks associated with the reliance on third parties to sponsor and fund clinical trials, risks regarding intellectual property rights in product candidates and the ability to defend and enforce such intellectual property rights, the risk of failure of the third parties upon whom MediciNova relies to conduct its clinical trials and manufacture its product candidates to perform as expected, the risk of increased cost and delays due to delays in the commencement, enrollment, completion or analysis of clinical trials or significant issues regarding the adequacy of clinical trial designs or the execution of clinical trials, and the timing of expected filings with the regulatory authorities, MediciNova’s collaborations with third parties, the availability of funds to complete product development plans and MediciNova’s ability to obtain third party funding for programs and raise sufficient capital when needed, and the other risks and uncertainties described in MediciNova’s filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2022 and its subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Undue reliance should not be placed on these forward-looking statements, which speak only as of the date hereof. MediciNova disclaims any intent or obligation to revise or update these forward-looking statements.

INVESTOR CONTACT:
	Geoff O’Brien
	Vice President
	MediciNova, Inc.
	info@medicinova.com

 

• Improved Operating Profit Margin 80 Basis Points Over the Prior Year and Adjusted Operating Profit Margin 100 Basis Points Over the Prior Year
• Grew Diluted EPS and Adjusted Diluted EPS 7 Percent Over the Prior Year
• Generated Strong Cash Flow from Operations and Allocated Capital to the Acquisition of KE2 Therm and the Continued Repurchasing of Outstanding Shares

ATLANTA, June 29, 2023 (GLOBE NEWSWIRE) — Acuity Brands, Inc. (NYSE: AYI) (the “Company”), a market-leading industrial technology company, announced net sales of $1.0 billion in the third quarter of fiscal 2023 ended May 31, 2023, a decrease of 5.7 percent, or $60.3 million compared to the prior year.

“In the third quarter of fiscal 2023, we expanded adjusted operating profit margin both sequentially and year-over-year. We continued to grow adjusted diluted earnings per share and we generated strong cash flow from operations, despite a decline in net sales,” stated Neil Ashe, Chairman, President and Chief Executive Officer of Acuity Brands, Inc. “We completed the acquisition of KE2 Therm, and we continued to repurchase our shares.”

Operating profit was $143.3 million in the third quarter of fiscal 2023, an increase of $0.6 million, compared to the prior year. Operating profit as a percent of net sales was 14.3 percent in the third quarter of fiscal 2023, an increase of 80 basis points, compared to the prior year. Adjusted operating profit was $162.9 million in the third quarter of fiscal 2023, an increase of $0.1 million, compared to the prior year. Adjusted operating profit as a percent of net sales was 16.3 percent in the third quarter of fiscal 2023, an increase of 100 basis points, compared to the prior year.

Diluted earnings per share was $3.28 in the third quarter of fiscal 2023, an increase of $0.21, or 6.8 percent, compared to the prior year. Adjusted diluted earnings per share was $3.75 in the third quarter of fiscal 2023, an increase of $0.23, or 6.5 percent, from $3.52, in the prior year.

Segment Performance

Acuity Brands Lighting and Lighting Controls (“ABL”)

ABL generated net sales of $940.7 million in the third quarter of fiscal 2023, a decrease of $67.7 million, or 6.7 percent, compared to the prior year.

ABL operating profit was $150.0 million in the third quarter of fiscal 2023, an increase of $0.4 million, compared to the prior year. ABL operating profit as a percent of ABL net sales was 15.9 percent in the third quarter of fiscal 2023, an increase of 110 basis points compared to the prior year. ABL adjusted operating profit was $159.7 million in the third quarter of fiscal 2023, a decrease of $0.1 million, compared to the prior year. ABL adjusted operating profit as a percent of ABL net sales was 17.0 percent in the third quarter of fiscal 2023, an increase of 120 basis points compared to the prior year.

Intelligent Spaces Group (“ISG”)

ISG generated net sales of $65.8 million in the third quarter of fiscal 2023, an increase of $7.5 million, or 12.9 percent, compared to the prior year.

ISG operating profit was $8.6 million in the third quarter of fiscal 2023, a decrease of $0.6 million, compared to the prior year. ISG adjusted operating profit was $12.8 million in the third quarter of fiscal 2023, a decrease of $0.8 million, compared to the prior year.

Cash Flow and Capital Allocation

Net cash from operating activities was $471.5 million for the first nine months of fiscal 2023, an increase of $305.8 million compared to the prior year due primarily to an improvement in our working capital.

During the first nine months of fiscal 2023, the Company repurchased approximately 1.3 million shares of common stock for a total of $219 million.

In the third quarter of fiscal 2023, the Company announced that it had completed the acquisition of KE2 Therm.

Today’s Call Details

The Company will host a conference call at 8:00 a.m. (ET) today, Thursday, June 29, 2023. Neil Ashe, Chairman, President and Chief Executive Officer of Acuity Brands, Inc. will lead the call. The conference call and earnings release can be accessed via the Investor Relations section of the Company’s website at www.investors.acuitybrands.com. A replay of the call will also be posted to the Investor Relations website within two hours of the completion of the conference call and will be available on the website for a limited time.

About Acuity Brands

Acuity Brands, Inc. (NYSE: AYI) is a market-leading industrial technology company. We use technology to solve problems in spaces, light, and more things to come. Through our two business segments, Acuity Brands Lighting and Lighting Controls (ABL) and the Intelligent Spaces Group (ISG), we design, manufacture, and bring to market products and services that make a valuable difference in people’s lives.

We achieve growth through the development of innovative new products and services, including lighting, lighting controls, building management solutions, and location-aware applications. We achieve customer-focused efficiencies that allow us to increase market share and deliver superior returns. We look to aggressively deploy capital to grow the business and to enter attractive new verticals.

Acuity Brands, Inc. is based in Atlanta, Georgia, with operations across North America, Europe, and Asia. The Company is powered by more than 13,000 dedicated and talented associates. Visit us at www.acuitybrands.com

Non-GAAP Financial Measures

This news release includes the following non-generally accepted accounting principles (“GAAP”) financial measures: “adjusted operating profit” and “adjusted operating profit margin” for total company and by segment; “adjusted net income;” “adjusted diluted EPS;” “earnings before interest, taxes, depreciation, and amortization (“EBITDA”);” and “adjusted EBITDA”. These non-GAAP financial measures are provided to enhance the reader’s overall understanding of the Company’s current financial performance and prospects for the future. Specifically, management believes that these non-GAAP measures provide useful information to investors by excluding or adjusting items for amortization of acquired intangible assets, share-based payment expense, loss on sale of business, and special charges associated with continued efforts to streamline the organization and integrate recent acquisitions.

We also provide “free cash flow” (“FCF”) to enhance the reader’s understanding of the Company’s ability to generate additional cash from its business.

Management typically adjusts for these items for internal reviews of performance and uses the above non-GAAP measures for baseline comparative operational analysis, decision making, and other activities. Management believes these non-GAAP measures provide greater comparability and enhanced visibility into the Company’s results of operations as well as comparability with many of its peers, especially those companies focused more on technology and software. Non-GAAP financial measures included in this news release should be considered in addition to, and not as a substitute for or superior to, results prepared in accordance with GAAP.

The most directly comparable GAAP measures for adjusted operating profit and adjusted operating profit margin for total company and by segment are “operating profit” and “operating profit margin,” respectively, for total company and by segment, which include the impact of amortization of acquired intangible assets, share-based payment expense, and special charges. Adjusted operating profit margin is adjusted operating profit divided by net sales for total company and by segment. The most directly comparable GAAP measures for adjusted net income and adjusted diluted EPS are “net income” and “diluted EPS,” respectively, which include the impact of amortization of acquired intangible assets, loss on sale of business, share-based payment expense, and special charges. Adjusted diluted EPS is adjusted net income divided by diluted weighted average shares outstanding. The most directly comparable GAAP measure for EBITDA is “net income”, which includes the impact of net interest expense, income taxes, depreciation, and amortization of acquired intangible assets. The most directly comparable GAAP measure for adjusted EBITDA is “net income”, which includes the impact of net interest expense, income taxes, depreciation, amortization of acquired intangible assets, share-based payment expense, special charges, and miscellaneous (income) expense, net. A reconciliation of each measure to the most directly comparable GAAP measure is available in this news release.

The Company defines FCF as net cash provided by operating activities less purchases of property, plant and equipment. A calculation of this measure is available in this news release.

The Company’s non-GAAP financial measures may not be comparable to similarly titled non-GAAP financial measures used by other companies, have limitations as an analytical tool, and should not be considered in isolation or as a substitute for GAAP financial measures. Our presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that our future results will be unaffected by other unusual or non-recurring items.

Forward-Looking Information

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the “Act”). Forward-looking statements use words such as “expect,” “believe,” “intend,” “anticipate,” “indicative,” “projection,” “predict,” “plan,” “may,” “could,” “should,” “would,” “potential,” and words of similar meaning, as well as other words or expressions referencing future events, conditions, or circumstances. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Act. Statements that describe or relate to the Company’s plans, goals, intentions, strategies, or financial outlook, and statements that do not relate to historical or current fact, are examples of forward-looking statements. Forward-looking statements are not guarantees of future performance. Our forward-looking statements are based on our current beliefs, expectations, and assumptions, which may not prove to be accurate, and are subject to known and unknown risks and uncertainties, many of which are outside of our control. These risks and uncertainties could cause actual results to differ materially from our historical experience and management’s present expectations or projections. These risks and uncertainties are discussed in our filings with the U.S. Securities and Exchange Commission, including our most recent annual report on Form 10-K (including, but not limited to, Part I, Item 1a Risk Factors), quarterly reports on Form 10-Q, and current reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made. You are cautioned not to place undue reliance on any forward-looking statements. Except as required by law, we undertake no obligation to publicly update or release any revisions to these forward-looking statements to reflect any events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, or otherwise.

ACUITY BRANDS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except share data)

	May 31, 2023				August 31, 2022
	(unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	359.3			$	223.2
Accounts receivable, less reserve for doubtful accounts of $1.3 and $1.2, respectively		545.0				665.9
Inventories		400.5				485.7
Prepayments and other current assets		103.6				91.2
Total current assets		1,408.4				1,466.0
Property, plant, and equipment, net		290.4				276.5
Operating lease right-of-use assets		84.8				74.9
Goodwill		1,096.7				1,084.3
Intangible assets, net		504.9				529.2
Deferred income taxes		1.3				1.3
Other long-term assets		52.4				48.0
Total assets	$	3,438.9			$	3,480.2
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	344.3			$	397.8
Current maturities of debt		—				18.0
Current operating lease liabilities		19.2				15.7
Accrued compensation		83.1				88.0
Other current liabilities		177.6				214.1
Total current liabilities		624.2				733.6
Long-term debt		495.4				495.0
Long-term operating lease liabilities		78.0				67.4
Accrued pension liabilities		41.9				41.4
Deferred income taxes		103.2				102.1
Other long-term liabilities		126.4				128.9
Total liabilities		1,469.1				1,568.4
Stockholders’ equity:
Preferred stock, $0.01 par value; 50,000,000 shares authorized; none issued		—				—
Common stock, $0.01 par value; 500,000,000 shares authorized; 54,400,920 and 54,241,069 issued, respectively		0.5				0.5
Paid-in capital		1,056.9				1,036.3
Retained earnings		3,426.6				3,176.2
Accumulated other comprehensive loss		(120.0	)			(125.8	)
Treasury stock, at cost, of 23,055,460 and 21,753,820 shares, respectively		(2,394.2	)			(2,175.4	)
Total stockholders’ equity		1,969.8				1,911.8
Total liabilities and stockholders’ equity	$	3,438.9			$	3,480.2

ACUITY BRANDS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(In millions, except per share data)

	Three Months Ended							Nine Months Ended
	May 31, 2023			May 31, 2022				May 31, 2023			May 31, 2022
Net sales	$	1,000.3		$	1,060.6			$	2,941.8		$	2,895.8
Cost of products sold		553.0			615.5				1,671.3			1,685.6
Gross profit		447.3			445.1				1,270.5			1,210.2
Selling, distribution, and administrative expenses		304.0			302.4				899.9			850.1
Special charges		—			—				6.9			—
Operating profit		143.3			142.7				363.7			360.1
Other expense:
Interest expense, net		3.9			6.2				16.2			18.1
Miscellaneous expense (income), net		0.7			(1.5	)			6.1			(3.1	)
Total other expense		4.6			4.7				22.3			15.0
Income before income taxes		138.7			138.0				341.4			345.1
Income tax expense		33.7			32.3				78.3			76.5
Net income	$	105.0		$	105.7			$	263.1		$	268.6
Earnings per share(1):
Basic earnings per share	$	3.31		$	3.10			$	8.22		$	7.75
Basic weighted average number of shares outstanding		31.682			34.079				32.006			34.659
Diluted earnings per share	$	3.28		$	3.07			$	8.13		$	7.66
Diluted weighted average number of shares outstanding		32.011			34.440				32.360			35.067
Dividends declared per share	$	0.13		$	0.13			$	0.39		$	0.39

⁽¹⁾ Earnings per share is calculated using unrounded numbers. Amounts in the table may not recalculate exactly due to rounding.

ACUITY BRANDS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(In millions)

	Nine Months Ended
	May 31, 2023				May 31, 2022
Cash flows from operating activities:
Net income	$	263.1			$	268.6
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization		70.4				71.4
Share-based payment expense		32.4				27.5
Gain on sale of property, plant, and equipment		—				(2.3	)
Asset impairment		4.3				1.7
Loss on sale of a business		11.2				—
Changes in operating assets and liabilities, net of acquisitions and divestitures:
Accounts receivable		123.9				(27.2	)
Inventories		82.6				(174.5	)
Prepayments and other current assets		(9.6	)			(38.3	)
Accounts payable		(53.4	)			58.9
Other		(53.4	)			(20.1	)
Net cash provided by operating activities		471.5				165.7
Cash flows from investing activities:
Purchases of property, plant, and equipment		(48.0	)			(38.0	)
Proceeds from sale of property, plant, and equipment		—				8.9
Acquisition of businesses, net of cash acquired		(35.4	)			(12.2	)
Other investing activities		7.0				(1.9	)
Net cash used for investing activities		(76.4	)			(43.2	)
Cash flows from financing activities:
Repayments on credit facility, net of borrowings		(18.0	)			122.0
Repurchases of common stock		(216.2	)			(403.5	)
Proceeds from stock option exercises and other		2.1				10.6
Payments of taxes withheld on net settlement of equity awards		(13.9	)			(8.0	)
Dividends paid		(12.7	)			(13.7	)
Net cash used for financing activities		(258.7	)			(292.6	)
Effect of exchange rate changes on cash and cash equivalents		(0.3	)			(3.0	)
Net change in cash and cash equivalents		136.1				(173.1	)
Cash and cash equivalents at beginning of period		223.2				491.3
Cash and cash equivalents at end of period	$	359.3			$	318.2

ACUITY BRANDS, INC.
DISAGGREGATED NET SALES
(In millions)

The following tables show net sales by channel for the periods presented:

	Three Months Ended
	May 31, 2023				May 31, 2022				Increase (Decrease)				Percent Change
ABL:
Independent sales network	$	686.0			$	725.9			$	(39.9	)		(5.5	)	%
Direct sales network		103.9				96.1				7.8			8.1		%
Retail sales		48.0				44.7				3.3			7.4		%
Corporate accounts		44.4				59.1				(14.7	)		(24.9	)	%
Original equipment manufacturer and other		58.4				82.6				(24.2	)		(29.3	)	%
Total ABL		940.7				1,008.4				(67.7	)		(6.7	)	%
ISG		65.8				58.3				7.5			12.9		%
Eliminations		(6.2	)			(6.1	)			(0.1	)		1.6		%
Total	$	1,000.3			$	1,060.6			$	(60.3	)		(5.7	)	%

	Nine Months Ended
	May 31, 2023				May 31, 2022				Increase (Decrease)				Percent Change
ABL:
Independent sales network	$	1,995.0			$	1,977.0			$	18.0			0.9		%
Direct sales network		305.0				269.3				35.7			13.3		%
Retail sales		148.3				134.3				14.0			10.4		%
Corporate accounts		147.5				149.7				(2.2	)		(1.5	)	%
Original equipment manufacturer and other		182.8				224.8				(42.0	)		(18.7	)	%
Total ABL		2,778.6				2,755.1				23.5			0.9		%
ISG		180.8				154.7				26.1			16.9		%
Eliminations		(17.6	)			(14.0	)			(3.6	)		25.7		%
Total	$	2,941.8			$	2,895.8			$	46.0			1.6		%

ACUITY BRANDS, INC.
Reconciliation of Non-U.S. GAAP Measures

The tables below reconcile certain GAAP financial measures to the corresponding non-GAAP measures for total Company as well as our reportable operating segments (in millions except per share data):

	Three Months Ended
	May 31, 2023							May 31, 2022						Increase (Decrease)				Percent Change
Net sales	$	1,000.3						$	1,060.6					$	(60.3	)		(5.7	)	%
Operating profit (GAAP)	$	143.3						$	142.7					$	0.6			0.4		%
Percent of net sales					14.3	%						13.5	%		80			bps
Add-back: Amortization of acquired intangible assets		9.2							10.2
Add-back: Share-based payment expense		10.4							9.9
Adjusted operating profit (Non-GAAP)	$	162.9						$	162.8					$	0.1			0.1		%
Percent of net sales (Non-GAAP)					16.3	%						15.3	%		100			bps
Net income (GAAP)	$	105.0						$	105.7					$	(0.7	)		(0.7	)	%
Add-back: Amortization of acquired intangible assets		9.2							10.2
Add-back: Share-based payment expense		10.4							9.9
Total pre-tax adjustments to net income		19.6							20.1
Income tax effects		(4.5	)						(4.5	)
Adjusted net income (Non-GAAP)	$	120.1						$	121.3					$	(1.2	)		(1.0	)	%
Diluted earnings per share (GAAP)	$	3.28						$	3.07					$	0.21			6.8		%
Adjusted diluted earnings per share (Non-GAAP)	$	3.75						$	3.52					$	0.23			6.5		%
Net income (GAAP)	$	105.0						$	105.7					$	(0.7	)		(0.7	)	%
Interest expense, net		3.9							6.2
Income tax expense		33.7							32.3
Depreciation		12.7							13.3
Amortization		9.2							10.2
EBITDA (Non-GAAP)		164.5							167.7						(3.2	)		(1.9	)	%
Share-based payment expense		10.4							9.9
Miscellaneous expense (income), net		0.7							(1.5	)
Adjusted EBITDA (Non-GAAP)	$	175.6						$	176.1					$	(0.5	)		(0.3	)	%

		Three Months Ended
ABL		May 31, 2023				May 31, 2022				Increase (Decrease)				Percent Change
Net sales		$	940.7			$	1,008.4			$	(67.7	)		(6.7	)	%
Operating profit (GAAP)		$	150.0			$	149.6			$	0.4			0.3		%
Add-back: Amortization of acquired intangible assets			6.1				7.0
Add-back: Share-based payment expense			3.6				3.2
Adjusted operating profit (Non-GAAP)		$	159.7			$	159.8			$	(0.1	)		(0.1	)	%
Operating profit margin (GAAP)			15.9	%			14.8	%			110			bps
Adjusted operating profit margin (Non-GAAP)			17.0	%			15.8	%			120			bps

		Three Months Ended
ISG		May 31, 2023				May 31, 2022				Increase (Decrease)				Percent Change
Net sales		$	65.8			$	58.3			$	7.5			12.9		%
Operating profit (GAAP)		$	8.6			$	9.2			$	(0.6	)		(6.5	)	%
Add-back: Amortization of acquired intangible assets			3.1				3.2
Add-back: Share-based payment expense			1.1				1.2
Adjusted operating profit (Non-GAAP)		$	12.8			$	13.6			$	(0.8	)		(5.9	)	%
Operating profit margin (GAAP)			13.1	%			15.8	%			(270	)		bps
Adjusted operating profit margin (Non-GAAP)			19.5	%			23.3	%			(380	)		bps

(In millions, except per share data)	Nine Months Ended
	May 31, 2023							May 31, 2022							Increase (Decrease)			Percent Change
Net sales	$	2,941.8						$	2,895.8						$	46.0		1.6		%
Operating profit (GAAP)	$	363.7						$	360.1						$	3.6		1.0		%
Percent of net sales					12.4	%						12.4	%			—		bps
Add-back: Amortization of acquired intangible assets		32.1							30.8
Add-back: Share-based payment expense		32.4							27.5
Add-back: Special charges		6.9							—
Adjusted operating profit (Non-GAAP)	$	435.1						$	418.4						$	16.7		4.0		%
Percent of net sales					14.8	%						14.4	%			40		bps
Net income (GAAP)	$	263.1						$	268.6						$	(5.5	)	(2.0	)	%
Add-back: Amortization of acquired intangible asset		32.1							30.8
Add-back: Share-based payment expense		32.4							27.5
Add-back: Loss on sale of a business		11.2							—
Add-back: Special charges		6.9							—
Total pre-tax adjustments to net income		82.6							58.3
Income tax effect		(19.1	)						(13.3	)
Adjusted net income (Non-GAAP)	$	326.6						$	313.6						$	13.0		4.1		%
Diluted earnings per share (GAAP)	$	8.13						$	7.66						$	0.47		6.1		%
Adjusted diluted earnings per share (Non-GAAP)	$	10.09						$	8.94						$	1.15		12.9		%
Net income (GAAP)	$	263.1						$	268.6						$	(5.5	)	(2.0	)	%
Interest expense, net		16.2							18.1
Income tax expense		78.3							76.5
Depreciation		38.3							40.6
Amortization		32.1							30.8
EBITDA (Non-GAAP)		428.0							434.6						$	(6.6	)	(1.5	)	%
Share-based payment expense		32.4							27.5
Miscellaneous expense (income), net		6.1							(3.1	)
Special charges		6.9							—
Adjusted EBITDA (Non-GAAP)	$	473.4						$	459.0						$	14.4		3.1		%

		Nine Months Ended
ABL		May 31, 2023				May 31, 2022				Increase (Decrease)				Percent Change
Net sales		$	2,778.6			$	2,755.1			$	23.5			0.9		%
Operating profit		$	391.7			$	394.2			$	(2.5	)		(0.6	)	%
Add-back: Amortization of acquired intangible assets (1)			22.8				21.2
Add-back: Share-based payment expense			10.4				9.5
Add-back: Special charges			6.9				—
Adjusted operating profit		$	431.8			$	424.9			$	6.9			1.6		%
Operating profit margin			14.1	%			14.3	%			(20	)		bps
Adjusted operating profit margin			15.5	%			15.4	%			10			bps

⁽¹⁾ Amortization expense for the first nine months of fiscal 2023 includes accelerated amortization of $4.0 million for certain discontinued brands.

		Nine Months Ended
ISG		May 31, 2023				May 31, 2022				Increase (Decrease)			Percent Change
Net sales		$	180.8			$	154.7			$	26.1		16.9	%
Operating profit		$	22.7			$	12.4			$	10.3		83.1	%
Add-back: Amortization of acquired intangible assets			9.3				9.6
Add-back: Share-based payment expense			3.9				3.3
Adjusted operating profit		$	35.9			$	25.3			$	10.6		41.9	%
Operating profit margin			12.6	%			8.0	%			460		bps
Adjusted operating profit margin			19.9	%			16.4	%			350		bps

	Nine Months Ended
	May 31, 2023				May 31, 2022				Increase (Decrease)			Percent Change
Net cash provided by operating activities (GAAP)	$	471.5			$	165.7			$	305.8		184.6	%
Less: Purchases of property, plant, and equipment		(48.0	)			(38.0	)
Free cash flow (Non-GAAP)	$	423.5			$	127.7			$	295.8		231.6	%

Investor Contact:
Charlotte McLaughlin
Vice President, Investor Relations
(404) 853-1456
investorrelations@acuitybrands.com

Media Contact:
Cathy Lewandowski
Senior Manager, External Communications
Catherine.Lewandowski@acuitybrands.com

The Danish Agency for Higher Education and Science has today informed NNIT of a decision to withdraw from the contract on the Future State Educational Grant and Loan Payment System, which was awarded to NNIT on October 14, 2022, cf. company announcement no. 13/2022.

The withdrawal is completed in accordance with the standard clause in the contract following constructive dialogue and cooperation with NNIT during the clarification phase, which has established that the scope of the project exceeds initial expectations and that the project consequently cannot continue in its current form. NNIT expects that the Danish Agency for Higher Education and Science will re-tender the contract and that NNIT will be part of the tender procedure.

The withdrawal has no effect on NNIT’s 2023 outlook.

Contact for further information

Carsten Ringius
EVP & CFO
Tel: +45 3077 8888

Media Relations
Tina Joanne Hindsbo
Media Relations Manager
Tel: +45 3077 9578
tnjh@nnit.com

The NNIT Group provides a wide range of IT and consulting services internationally.

In Denmark, where the Group HQ is based, we are one of the leading IT companies, servicing both private and public sector customers across all industries. In the rest of Europe, Asia and USA, we are solely focused on companies within life sciences.

Supporting the entire supply chain, we help optimize internal company processes, production, sales and customer experiences:

We advise, build, operate and support, enabling digital transformation and customers to reap the full potential of their organizations. Our role is to foster innovation and make the mark our customers and we aspire to.

The NNIT Group consists of group company NNIT A/S and subsidiaries SCALES, Excellis Health Solutions and SL Controls. Read more at www.nnit.com.

• 17_2023 Company Announcement

COMPANY ANNOUNCEMENT                                                                                                                    

No. 173/2023

Tvis, 29 June 2023

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, JAPAN, SOUTH AFRICA, HONG KONG OR AUSTRALIA, EXCEPT AS PERMITTED BY APPLICABLE LAW, OR IN ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION IS UNLAWFUL.

TCM Group A/S – Registration of Share Capital Increase of 1,221,419 New Shares Completed

TCM Group A/S (“TCM” or the “Company”) has in connection with the directed issue and private placement today registered with the Danish Business Authority, a capital increase of a nominal value of DKK 122,141.9 (1,221,419 shares of DKK 0.10 each) (the “New Shares”), representing 13.4% of the registered share capital prior to the capital increase (the “Offering”).

The New Shares have been issued under a temporary ISIN code and are expected to be admitted to trading and official listing under the permanent ISIN code DK0060915478 on Nasdaq Copenhagen A/S with effect from 30 June 2023. After registration of the share capital increase, the share capital of TCM amounts to nominally DKK 1,036,371.3 divided into 10,363,713 shares of DKK 0.10 each. The total number of voting rights in the Company is 10,363,713.

The New Shares rank pari passu with the Company’s existing shares and carry the same dividend and other rights. Each New Share carries one vote at the Company’s general meetings.

Reference is made to company announcements no. 170 and 171 of 26 June 2023.

The amendments to the Company’s articles of association required by the capital increase have been registered today with the Danish Business Authority and an updated version can be found at www.tcmgroup.dk.

SOLE GLOBAL COORDINATOR AND BOOKRUNNER
Carnegie Investment Bank, filial af Carnegie Investment Bank AB (publ), Sverige has acted as Sole Global Coordinator and Bookrunner in connection with the Offering.

Kromann Reumert acts as Danish legal advisor to the Company. Gorrissen Federspiel Advokatpartnerselskab acts as Danish legal advisor to the Sole Global Coordinator and Bookrunner.

For further information please contact:
Torben Paulin, CEO, TCM Group A/S, +45 21 21 04 64
Thomas Hjannung, CFO, TCM Group A/S, +45 97 43 52 00
IR Contact – ir@tcmgroup.dk

About TCM Group
TCM Group is Scandinavia’s third largest manufacturer of kitchens and furniture for bathrooms and storage. The products are designed and produced in Denmark and rooted in a proud tradition of good quality and good craftsmanship. TCM Group pursues a multi-brand strategy, under which the main brand is Svane Køkkenet and the other brands are Tvis Køkken and Nettoline. Combined, the brands cater for the entire price spectrum, and are sold through c. 140 dealers in Denmark and the rest of the Scandinavia. TCM Group sells private label kitchens through DIY stores in Denmark and independent kitchen stores in Norway. TCM Group is supplier to the 45% owned e-commerce kitchen business Celebert, which operates under the brands kitchn.dk, billigskabe.dk, Celebert and Just Wood. See www.tcmgroup.dk for more information.

DISCLAIMER
This company announcement may contain forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties, in particular this announcement should not be construed as a confirmation neither that the Offering will complete, nor of the deal size or the price. Therefore, actual future results and trends may differ materially from what is forecast in this report due to a variety of factors.

This announcement is intended for the sole purpose of providing information. Persons needing advice should consult an independent financial adviser. This announcement does not constitute an investment recommendation.

This announcement is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia, the “United States”), Canada, Japan, South Africa, Hong Kong or Australia, except as permitted by applicable law, or any other jurisdiction in which such publication or distribution is unlawful.

This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States, Canada, Japan, South Africa, Hong Kong, Australia or any other jurisdiction in which such offers or sales are unlawful (the “Excluded Territories”). Any failure to comply with this may constitute a violation of US, Canadian, Japanese, South African, Hong Kong or Australian securities laws or the securities laws of other states as the case may be.

The securities offered in connection with the Offering have not been and will not be registered under any applicable securities laws of any state, province, territory, county or jurisdiction of the Excluded Territories. Accordingly, such securities may not be offered, sold, resold, taken up, exercised, renounced, transferred, delivered or distributed, directly or indirectly, in or into the Excluded Territories or any other jurisdiction if to do so would constitute a violation of the relevant laws of, or require registration of such securities in, the relevant jurisdiction. There will be no public offer of securities in the United States or elsewhere.

This announcement is not a prospectus and has been prepared on the basis that any offers of securities referred to herein in any member state of the European Economic Area will be made pursuant to an exemption under Regulation (EU) 2017/1129 on prospectuses (the “Prospectus Regulation”). The information set forth in this announcement is only being distributed to, and directed at, persons in member states of the European Economic Area who are qualified investors (“Qualified Investors”) within the meaning of the Prospectus Regulation.

No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by TCM or by any of its affiliates or agents, or the Sole Global Coordinator and Bookrunner, as to or in relation to, the accuracy, completeness or sufficiency of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers in connection with the Company’s Offering of the New Shares and/or the private placement referred to herein, and any liability therefore is expressly disclaimed.

The Sole Global Coordinator and Bookrunner and its affiliates is acting exclusively for TCM Group A/S and no-one else in connection with the Offering. It will not regard any other person as its respective clients in relation to the Offering and will not be responsible to anyone other than TCM Group A/S for providing the protections afforded to its respective clients, nor for providing advice in relation to the Offering, the contents of this announcement or any transaction, arrangement or other matter referred to herein.

Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended (“MiFID II”); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the “MiFID II Product Governance Requirements”), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any “manufacturer” (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares in TCM Group A/S have been subject to a product approval process, which has determined that such shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the “Target Market Assessment”). Notwithstanding the Target Market Assessment, Distributors should note that: the price of the shares in TCM Group A/S may decline and investors could lose all or part of their investment; the shares in TCM Group A/S offer no guaranteed income and no capital protection; and an investment in the shares in TCM Group A/S is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the contemplated share issue. Furthermore, it is noted that, notwithstanding the Target Market Assessment, Carnegie Investment Bank, filial af Carnegie Investment Bank AB (publ), Sverige will only procure investors who meet the criteria of professional clients and eligible counterparties.
 
For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares in TCM Group A/S. Each distributor is responsible for undertaking its own target market assessment in respect of the shares in TCM Group A/S and determining appropriate distribution channels.

• 173. Registration of Share Capital Increase of 1,221,419 New Shares Completed