Exercise of Thule Group’s warrant series 2020/2023

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The majority of Thule Group AB's warrant program 2020/2023 has been exercised, which means that the number of shares in the company increases by 969,210. The total number of shares in the company will then amount to 105,531,646. The company's share capital increases by SEK 10,832.231320 and thus amounts to SEK 1,179,458.735558. The subscription price for the shares was SEK 234.70 per share. Thule Group AB receives SEK 227,473,587 through the exercise of the warrants. The shares are expected to be admitted to trading on Nasdaq Stockholm around June 26, 2023.

The warrant program 2020/2023 covers a total of 1,107,779 warrants and 1,229,634 underlying shares as well as 27 employees, which includes the CEO, group management and other senior employees. The conditions for determining the exercise price for the warrants meant that the cap for the highest realization value was reached at a share price of SEK 276.60.

A total of 18 people, of which 6 senior executives, participated in the joint execution and the underlying shares have been sold. In connection with the exercise of the warrant program, Thule AB repurchases 53,126 warrants from four participants in Region Americas who, for regulatory reasons, could not participate in the joint exercise. These warrants will lapse without being exercised. The purchase price for the repurchased warrants has been determined at the market value of the warrants, corresponding to approximately SEK 3.9 million.

107,624 warrants, currently corresponding to 119,462 new shares, have not yet been exercised in the 2020/2023 warrant program. The last day for the exercise is December 15, 2023.

Pareto Securities has assisted in the joint execution.

Contacts
Fredrik Erlandsson SVP Communications and Investor Relations
Tel: +46 70 309 00 21
E-mail: fredrik.erlandsson@thule.com

About Thule Group
Thule Group is a global sports and outdoor company. We offer high-quality products with smart features and a sustainable design that make it easy for people across the globe to live an active life. Under the motto Active Life, Simplified — and with a focus on consumer-driven innovation and long-term sustainability — we develop, manufacture and market products within the product categories Sport&Cargo Carriers (roof racks, roof boxes and carriers for transporting cycling, water and winter sports equipment, and rooftop tents mounted on a car), Juvenile & Pet Products (strollers, bike trailers and child bike seats), RV Products (awnings, bike carriers and tents for RVs and caravans) and Packs, Bags & Luggage
(hiking backpacks, luggage and camera bags).
 
Thule Group has about 2,600 employees at nine production facilities and 35 sales offices worldwide. The Group’s products are sold in 138 markets and in 2022, sales amounted to SEK 10.1 billion.
www.thulegroup.com

Attachments
Exercise of Thule Group’s warrant series 2020/2023

Exercise of Thule Group’s warrant series 2020/2023
Lovisa Steen
Communications advisor, sustainability communications
070 550 59 28
lovisa@vero.se

For me, communication is ultimately about relationships – and about shaping messages so they truly resonate with the receiver. As an advisor within both investor relations and sustainability communications, I strongly believe that long-term value creation and sustainability go hand in hand, and that how you communicate can make a real difference in building trust and engagement. I thrive in close collaborations where strategies are shaped through dialogue. In my work, I support companies across industries and stages of development, navigating both planned milestones and unforeseen events. Prior to Vero, I worked in audit at EY, primarily with listed companies. That experience allows me to combine a trained eye for numbers with the ability to translate complex facts into strategic, trust-building communication.

I joined Vero in January 2026 and hold a Bachelor’s degree in Business Administration, with focus on International Business and Marketing, from Uppsala University.

Maria Montgomery
Project manager
+46 707 57 84 85
maria@vero.se
When many things happen at once, strategic communication truly makes a difference – both internally and externally. As project manager and advisor at Vero, I work closely with clients and teams in complex, time-sensitive situations as well as in long-term engagements.

I lead assignments within crisis communications and M&A, and I am always ready to step in operationally with responsibility for communications when needed.

I joined Vero in 2021. Previously, I worked as Communications Strategist at the City of Stockholm. I hold a degree in Strategic Communication from Lund University and have completed advanced project management training at Berghs School of Communication.
"What you water, will grow."

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