Fuud communicates financial forecast for 2022 and provides operational update

STOCKHOLM, 27 Jan, 2022 08.30 CET

Fuud submits a revenue forecast for the year 2022. Fuud's assessment is that sales in 2022 will amount to approximately SEK 170 million organically from current operations. In addition, the company is expected to make a number of acquisitions during 2022. The company's assessment is that it will achieve a positive cash flow and positive EBITDA result during the fourth quarter of 2022. Fuud also communicates operational events that have recently occurred or are imminent.

• Forecast organic sales 2022: SEK 170 million (Pro forma Jan-Sep 2021: SEK 50.8 million)
• During the fourth quarter of 2022, Fuud is expected to be EBITDA-positive
• During the fourth quarter of 2022, Fuud is expected to be cash flow positive

"We have laid the foundation for good growth during the current year. In 2022, we expect sales from current operations of approximately SEK 170 M. During the fourth quarter of 2022, we are expected to be both EBITDA and cash flow positive. In addition, we expect to be able to implement a number of acquisitions during the year "- Peter Blom, CEO Fuud

Operational update with significant events:

• Beijing8 is growing rapidly in sales growth and distribution. Through the sales work in Fuud's joint sales force and the strategically important central listing at ICA in early October 2021, the number of stores selling Beijing8 has increased sharply. The number of distribution points has increased by approximately 300% during the autumn and sales of Beijing8 in January 2022 amount to approximately SEK 3.3 million, an increase of over 100% compared with the previous year. During December 2021, Fuud's investments in the production facility provided the conditions for a doubled production capacity.

• The Finnish food giant S-Gruppen has now started selling the iQ Fuel brand range and since the launch, a sales value of approximately SEK 1.6 million has been met. The collaboration with the Finnish ice hockey profiles Mikko Lehtonen and Sebastian Aho has been extended for another year until 2023 and is expected to create brand awareness and high interest during the Ice Hockey World Cup which will be played in Finland in May 2022.

• In January, Homie's functional drinks Wake Up Synbiotic were launched at all Pressbyrån's and 7-Eleven's stores. In parallel with this, a nationwide campaign is underway in the stores' own marketing and on digital outdoor screens around the country.

• The new Legendz brand is launched in week 6 and has received additional distribution coverage in the grocery trade through Fuud's nationwide sales force, in addition to previously communicated listings at 7-Eleven, Pressbyrån, Hemmakväll, Direkten, Kandyz and strategically selected wholesalers.

• The Homie brand is marketed in TV commercials in collaboration with Apotea. Additional marketing via digital channels and digital outdoor signs is underway ahead of the launch during week 7 in the health chain Life's approximately 150 stores in Sweden and E-commerce.

• Launch of iQ Fuel's drinks will take place in all of Lidl's stores during January and February 2022. Both Fuud and Lidl have partnerships with Tre Kronor and the Swedish Ice Hockey Association. The collaboration is expected to have a good effect in marketing in connection with major ice hockey tournaments, including the Ice Hockey World Cup which will be played in May 2022.

• Two new flavors of Juicekultur, orange and apple/mint will be launched during week 7 at Pressbyrån and 7-Eleven.

• The brand Nathalie's new products Choko Mango, Drakfrukt and Nötkrisp will be launched during week 10 and will initially be available at Pressbyrån and 7-Eleven stores.

• Fuud is investing in its own e-commerce platform, which enables further expansion in digital channels for several of Fuud's current and future brands. The new E-commerce platform is being developed together with Storm Commerce and will be launched during the first half of 2022.

Message from CEO Peter Blom

In 2021, Fuud has undergone significant changes in the goal of taking a leading position in the Nordic region within functional foods. We believe that there is a clear place and position for Fuud's brands in our most important sales channels. The company's strategy is clear and is based on both organic growth and further acquisitions. We will continue to increase our geographical reach in the Nordic region and strengthen and build clear positions in the categories in which we operate.

We are entering the new year with a strong brand portfolio. The acquisitions we made in 2021 are integrated and we now have the organizational platform in place to be able to create strong growth during the year. It is gratifying that we are already breaking sales records in the Beijing8 brand during the first month of the year, and we have good prospects of continuing to increase our distribution both in the central listing at ICA but also by announcing further listings in the Nordic region's other major food chains. We are at the beginning of our journey - there is great potential left to realize.

In 2022, we will accelerate organic growth while continuing to identify interesting acquisition objects. With both existing and potentially new brands, we will continue to increase our commercial reach in the grocery trade, service trade, pharmacy market and e-commerce.

- Peter Blom, CEO Fuud

Responsible party

This information is such information that Fuud AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the care of the contact person below, for publication on 27 Jan 2022 at 08.30.

For more information, please contact:

Peter Blom, CEO Fuud AB

Tel: [phone]

E-mail: [e-mail]

About the Fuud Group

With the vision of being the Nordic market leader in 2025, Fuud brings together a number of exciting Swedish brands within Functional Foods under one roof, in order to jointly challenge the existing players in one of the food industry's fastest growing categories.

Fuud is growing through a combination of organic growth and acquisitions with a strong focus on high-quality content, exciting innovations and attractive design. Fuud's goal is to offer new and better alternatives than those already on the market, and at the same time contribute to both better health and increased quality of life for the Nordic population.

With a naturally built-in forward-thinking spirit, a strong and motivated sales force and a number of experienced key players in management and the board, Fuud has created a balance between muscle, drive and experience. The Fuud Group currently has the following brands: iQ Fuel, Homie, Beijing8, Juica, Juice Culture, Bacoccoli, Frill, Nathalie's, Barfly, Bezzt of Nature and Legendz.

The company is based in Stockholm and is listed on the Nasdaq First North Growth Market, short name Fuud. FNCA Sweden AB is the company's Certified Adviser. Tel. [phone], email [e-mail]

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