2020-03-17

The Fenix Outdoor Board of Directors proposes to the Annual General Meeting that no dividend shall paid this year. The Board makes the assessment that the market situation will continue to be turbulent. The
corona virus and the measures taken in Europe and the US mean that Fenix Outdoor have to take powerful arrangements both in short and long term. The financial consequences given the today’s uncertain situation are difficult to predict. The Group has decided to temporarily close down its Brand Retail shops in the USA, also some Frilufts retail shops in Germany are temporarily closed down. The measures will require significant concessions also from our employees. In this situation, despite the Group’s good liquidity situation, to distribute funds to the owners is to send incorrect signals.

So far in 2020 Fenix Outdoor shows an increase in. That despite the Corona virus’s effects on the Asian markets. The preorders for the rest of the year are good and show a healthy growth. South Korea is currently showing recovery towards a more normal business operation. However, due to the developments in Europe and the US, we currently see a risk that our direct orders for the summer season will be adversely
affected.

In China, the situation remains weak even if it turns better. However, Fenix Outdoor has a limited exposure in that market. Frilufts Retail had a challenging start to the year, with a continued mild winter and a decline in sales since the Corona situation escalated in Europe.

The increased anxious and the measures taken in Europe and the USA will at least in the short term have a negative effect on our major markets, not at least on the retail level.

This report contains information that Fenix Outdoor International AG is required to disclose under the EU Market Abuse Regulation. The information was submitted, for publication, at the contact person’s below 15 00 on March 17, 2020.

CONTACT PERSON Martin Nordin, Chairman of the Board +41 797 99 27 58