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A group of investors, consisting of both new and existing shareholders, including the global fashion group H&M Group, acquire approximately 6.25% of the shares in Re:NewCell AB (publ) ("Renewcell") from Girindus Investments AB ("Girindus").

A group of investors consisting of the global fashion group H&M Group and Swedish and international institutional investors, including Swedbank Robur Fonder, Handelsbanken Fonder and AMF Fonder, have acquired from Girindus in aggregate 1,926,048 shares in Renewcell, corresponding to approximately 6.25% of the total number of shares and votes in Renewcell, at a price of SEK 226.00 per share. H&M Group has supported Renewcell since its start as Renewcell's work perfectly aligns with H&M Group's vision to become circular and invested in Renewcell through its investment arm H&M CO:LAB already in 2017. Through this new transaction, H&M Group increases its ownership stake in Renewcell to approximately 11.51% and maintains its position as the second largest shareholder in Renewcell. Girindus remains the largest shareholder in Renewcell through its subsidiary Girincubator AB. Girincubator's ownership in Renewcell is subject to a lock-up period effective until commercial activities are initiated at Renewcell's new production facility in Ortviken (in Sweden), which at the IPO prospectus date was expected by Renewcell to take place around 1 July 2022. Renewcell is a core holding for Girincubator.

Erik Karlsson, Acting Head of H&M CO:LAB says, "As a long standing partner and investor in Renewcell we're happy to continue supporting this game changing technology. Renewcell has taken a leadership position in the circular textile industry and we look forward to creating new and sustainable collections together in the coming years."

Malcolm Norlin, Chairman of Girindus, says, "We are very pleased with the transaction as it adds more strength to the Renewcell community. We see this as a strong sign that the fashion industry as well as the institutional investment community is fully committed to circularity."

Following the transaction, Girindus owns approximately 12.77% of the total number of shares and votes in Renewcell through its subsidiary Girincubator AB. Girincubator AB was one of the founding entities of Renewcell in 2012 and remains the largest owner of Renewcell after the transaction and continues to support Renewcell on its journey towards building a closed loop textile value chain.

In connection with the transaction, Girindus retained BNP Paribas SA, Bankfilial Sverige as sole financial advisor and Hannes Snellman Attorneys as legal advisor.

Renewcell is listed on Nasdaq First North Premier Growth Market since November 26, 2020.

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