Synsam AB (publ) ("Synsam", the "Company" or the "Group"), the leading optical retailer in the Nordic Region1, today announces the outcome of the initial public offering of its shares on Nasdaq Stockholm (the "Offering"). The Offering attracted strong interest from large Swedish and international institutional investors as well as the general public in Sweden, Denmark, Norway and Finland. Trading on Nasdaq Stockholm commences tomorrow, October 29, 2021.

Synsam is a leading optician group in the Nordic region2, with a differentiated and sustainable Lifestyle offering. The Group operates through directly-owned and franchise stores as well as through e-commerce channels. Founded in 1968, Synsam has evolved from being a group of individually run optical retail stores to a leading customer-focused omni-channel operator with a network of 4903 well-invested stores in Sweden, Denmark, Norway and Finland, and around 908 opticians performing approximately 673,000 eye examinations per annum. Synsam considers itself to have consistently been at the forefront of innovation in the Nordic optical retail market across multiple dimensions including customer journey and digitalisation, product offering and ESG. This has translated into an attractive financial profile characterized by strong organic growth, significantly higher growth than the broader market4, combined with a scalable cost base and strong cash generation.

The Offering in Brief

The price in the Offering has been set at SEK 50 per share, corresponding to a total market value of the Company of SEK 7,500 million.

The Offering comprised 45,000,000 existing shares offered by Theia Holdings S.à r.l. (the "Principal Shareholder"), a company indirectly majority owned by CVC European Equity Fund V ("CVC Fund V"), corresponding to 30 per cent of the total number of shares in the Company after the completion of the Offering.

In order to cover any over-allotments in relation to the Offering, the Principal Shareholder has also granted an option to the Managers (as defined further below) to sell up to an additional 6,750,000 shares, corresponding to maximum 15 per cent of the total number of shares in the Offering (the "Over-Allotment Option"). Provided that the Over-Allotment Option is exercised in full, the Offering will comprise up to 51,750,000 shares, which corresponds to approximately 34.5 per cent of the total number shares and votes in the Company after the completion of the Offering.

The value of the Offering amounts to SEK 2,250 million, and assuming that the Over-Allotment Option is exercised in full, the total value of the Offering will amount to approximately SEK 2,588 million.

The Fourth Swedish National Pension Fund (Sw. Fjärde AP-fonden), Handelsbanken Fonder Aktiebolag and C WorldWide Asset Management Fondsmaeglerselskab A/S Danmark Filial i Sverige have, subject to certain customary conditions, committed to acquire shares in the Offering corresponding to an aggregate value of SEK 950 million. The undertakings represent, in aggregate, approximately 12.7 per cent of the outstanding shares in the Company upon completion of the Offering and approximately 36.7 per cent of the shares in the Offering assuming that the Over-Allotment Option is exercised in full.

Trading in the Company's shares on Nasdaq Stockholm commences tomorrow 29 October 2021 under the trading symbol "SYNSAM".

Settlement is expected to take place on 2 November 2021.

Håkan Lundstedt, CEO of Synsam, comments: "This marks a major and exciting milestone in Synsam's more than 50-year long history. The listing on Nasdaq Stockholm gives us even better opportunities to continue our growth journey as a leading Nordic lifestyle company in optical retail and eye health. I am proud of all our employees who have contributed to the successes we have achieved so far, transforming our entire industry through innovation and sustainability. I look forward to continue building and expanding our business together with our employees, partners and existing as well as new shareholders."

Peter Törnquist, Chairman of the Board of Synsam, comments: "The interest to become part of Synsam's future growth journey from Nordic and international investors has exceeded our expectations. The efforts and the dedication of the management team and the employees in building the business to where we are today is truly impressive. I am thrilled to start this exciting new chapter in Synsam's history."

Gustaf Martin-Löf and Christoffer Sjøqvist, Senior Managing Directors at CVC Capital Partners and board members of Synsam, comments: "We are excited to welcome all the new shareholders to Synsam. The board, management team and employees of Synsam have built an exceptional business that is redefining the market for optical retail and eye health in the Nordics. This listing is an important step for the business's ongoing development and we are very pleased to remain an active supporter of Synsam's future growth journey."

1 According to a market study prepared for Synsam by the third-party consulting firm Boston Consulting Group (the "Market Study"), Synsam has a leading market position across the Nordics (in terms of market share in 2020). The market shares are based on retail value.
2 According to the Market Study, Synsam has a leading market position across the Nordics (in terms of market share in 2020). The market shares are based on retail value.
3 As of 30 June 2021.
4 According to the Market Study.