MQ acquires retail-clothing company JOY

MQ Holding AB is acquiring the retail-clothing company Joy Shop AB from
Aktiebolaget Segulah, thereby strengthening its position in the Nordic fashion
market. Through the acquisition, MQ gains 54 stores in Sweden and an online
shopping channel. The purchase price, paid in cash, amounts to SEK 38.5 million.
The scheduled closing date is 1 May 2016. The acquisition is expected to have a
neutral impact on earnings for MQ’s current 2015/2016 financial year.

Retail-clothing company JOY was founded in 1971 and today runs 54 wholly owned
stores in Sweden as well as online shopping. The company reported sales of SEK
258 million and an operating loss of SEK 9 million for the 2015 financial year.
JOY has 350 employees and its head office is in Gothenburg. It targets women in
the 50+ age group.

“With JOY as part of our Group, we will reach an attractive customer group that
has strong buying power and a keen interest in fashion. Women in the 50+ age
group account for more than half of the Swedish womenswear market and are today
the market’s fastest growing customer group. Subsequently, we see potential for
growth in this segment and have a clear strategy for developing the company. At
the same time, we see interesting synergies in many areas,” says Christina
Ståhl, CEO of MQ.

JOY will be run as a separate retail brand within the MQ Group. JOY and MQ
complement each other with two clearly defined target groups. MQ’s target group
includes men and women with the mindset of a 30-to-40 year-old, while JOY
targets women in the 50+ age group.

“JOY gains more fashion expertise and retail know-how with MQ as its new owner.
This puts JOY in a stronger position for the future and enables us to learn from
MQ’s previous development journey. We look forward to working together with MQ
to continue to develop our customer offering and further build our well
-established brand,” says Charlotte Nordén, CEO of JOY.

The transaction is conditional on the Swedish Competition Authority’s approval
and obtaining the consent of counterparties in certain material agreements to
the ownership change. The transaction is expected to be completed on 1 May 2016.
The purchase price of SEK 38.5 million will be paid in cash and MQ will extend
its overdraft facilities in connection with the acquisition.

MQ publishes this information in accordance with the Securities Market Act
(2007:258). The information was submitted for publication on 17 March 2016 at
7:10 a.m. (CET).

For further information, please contact:
Christina Ståhl, President and CEO: Tel: +46 31 388 80 10
Tony Siberg, Vice President and CFO: Tel: +46 31 388 84 01

MQ is Sweden’s largest retailer of fashion brands. Through a select mix of
proprietary and external brands, MQ offers men’s and women’s clothes with a high
fashion content in attractive stores. The store chain currently comprises 121
stores and the aim is to establish MQ as the leading retailer of fashion brands
in the Nordic region. The MQ share is listed on Nasdaq Stockholm since 18 June
2010. For more information, please visit our website at www.mq.se.