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Access to the information and documents on this website is restricted for regulatory reasons. You are requested to review the following information and make the following confirmation each time you access this restricted information.

THESE MATERIALS ARE NOT DIRECTED AT OR ACCESSIBLE BY ANY PERSONS LOCATED IN AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SOUTH AFRICA, SINGAPORE, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL.

This website and the information contained herein are not intended for, and must not be accessed by, or distributed or disseminated to, persons resident or physically present in the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or Singapore, and do not constitute an offer to sell or the solicitation of an offer to buy or acquire, any shares, rights or other securities of the Company in the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa, Singapore or any other country in which it would be contrary to the laws and regulations of that country.

These materials are not an offer for sale of securities in the United States. The shares, rights or other securities of the Company referred to on this website have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration thereunder.

Access to the information and documents contained on the following websites may be illegal in certain jurisdictions, and only certain categories of persons may be authorized to access such information and documents. All persons residing outside of the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or Singapore who wish to have access to the documents contained on this website should first ensure that they are not subject to local laws or regulations that prohibit or restrict their right to access this website, or require registration or approval for any acquisition of securities by them. The Company assumes no responsibility if there is a violation of applicable law or regulations by any person.

This information is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as “relevant persons”). Any investment activity to which this document relates will be only available to, and will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

By clicking on the link below, I confirm that I have read, understand and agree to comply with all of the restrictions set forth above and that my country of residence and current location is not the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or Singapore or any other jurisdiction in which such a distribution or such access is unlawful.

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Worth the trust

Reliable information on cars

In all our activities, we aim to adhere to good consumer sales and governance practices as well as the principles of responsible business we have defined. We expect that our personnel and partners follow Kamux’s Code of Conduct in their daily work regardless of their job description, showroom, or customer service channel.

In line with our updated strategy, we will centralize the processing of cars and create a unified method for all showrooms, for example, for checking the condition of the car and collecting essential information related to it. With our centralized operations and upgraded operating model, we strive to provide more consistent and reliable information on the cars for sale to support our customers’ purchase decision.

By providing as comprehensive and reliable information as possible on the cars for sale, we are looking to further strengthen our role as a forerunner in reliable car sales. Through centralized inspections anda systematic approach to processing cars, our aim is to meet the ever-increasing consumer need to obtain comprehensive and reliable information before making
a purchase decision regardless of the channel. In our operations, we adhere to the Consumer Protection Act, and we openly disclose the actual condition of the cars we have for sale and their potential shortcomings. Through transparent and reliable used car commercial practices, we aim to increase our customer satisfaction and minimize the amount of post-sale disagreements and dispute cases requiring a resolution from the consumer authority.

During disagreements between a retailer and a consumer, Kamux adheres to consumer authority recommendations, and we always aim to mediate any possible conflict situations in accordance with the recommendations of the consumer authority. In 2021, Kamux sold a total of 48,660 used cars in Finland (45,435). A total of 68 (68) cases, or 0.1% of sales, led to a consumer dispute procedure in 2021. The number of cases leading to a dispute procedure remained unchanged from the previous year, despite the increase in the number of cars sold. This means that we managed to reduce the number of disagreements in relation to the number of cars sold. In 54% of the resolved cases, the Consumer Disputes Board’s decision supported the proposal made by Kamux to the customer. Decisions recommending rectification constituted 0.08% of cars sold.

In Sweden, we acted according to the recommendations and guidelines of the local consumer authority, Allmänna reklamationsnämnden (ARN). Out of the 14,361 (10,485) sales in Sweden, 62 (90) disagreements between Kamux and a customer were resolved through the consumer dispute procedure of ARN in 2021. 61.3% of the decisions supported Kamux’s proposal to the customer and 0.17% of cars sold were decisions recommending rectification.

In Germany, disputes between a retailer and a consumer are always settled in court. By the end of 2021, a total of 17 (11) cases were concluded. Out of these, 2 led to a decision in favor of the customer. Seven cases were settled with a compromise solution.

First-class customer experience regardless of the channel

We offer omnichannel customer service, and more and more customers get first acquainted with the selection using digital channels. The goal of the omnichannel customer service is to offer our customers a reliable and pleasant customer experience regardless of the channel or location. We want to make our customer interactions as easy and smooth as possible to make sure that we above all meet the needs of the customer.

We offer customer service that responds to the customers’ needs in channels that best suit them also outside the showroom opening hours. We want our customer interactions to be smooth and transparent, encouraging customers to recommend Kamux. We aim to offer a best-in-class customer experience in used car retail anytime and anywhere, regardless of the channel.

We monitor our success closely through our customer satisfaction survey, which is sent to all customers who buy a car from Kamux in all operating countries. At the beginning of 2021, we expanded our customer satisfaction survey to include people who had interactions with Kamux but who did not buy a car in the end. The aim of the change was to better utilize the data collected through the customer satisfaction survey in developing the customer experience. In 2021, a total of 7,691 customers took part in the survey, and our overall score was 3.8 (the result of our previous customer satisfaction survey in 2020 collected using different variables: 4.3/5). The target level for the survey using the new methodology is above 4.

Transparency and a culture of doing the right thing

Kamux is a used car retail forerunner that creates an open operating culture and builds reliable operating models for the used car retail sector. We invest in smooth interactions with our customers and promote an open and safe atmosphere for our personnel throughout our organization. Our Group has an anonymous whistleblowing channel, through which any one of our employees can report possible detected or suspected actions violating our Code of Conduct. In 2021, our internal channel was used to report one act that was in violation of our Code of Conduct. After the report was investigated,the violation was handled in accordance with the company’s HR processes. We have a general feedback email available to everyone on our website. In 2021, we received no reports through it leading to measures.

We create value for the society

Our goal is to build profitable growth through a longterm effort and to create value for our shareholders and the society through reliable and transparent used car retail.

In accordance with our new strategy, we aim for strong growth and focus on improving profitability. The 2021 tax footprint was smaller compared to the previous year because of the schedule for tax authorities processing car tax rulings changing and a significant portion of taxes on cars imported by Kamux carrying over to 2022. In 2021, our tax footprint was EUR 67.1 million (86.4) in total. The most significant items related to tax payments were the car taxes as well as marginal and VAT taxes paid. We paid a total of EUR 5.5 million (6.6) of income tax in 2021. In 2021, the amount of the salaries we paid grew by 20.2 percent.

Our remuneration is based on an equal and motivating remuneration model, according to which the remuneration of our personnel consists of a basic salary and a performance based pay. The portion that is performance-based is based on the number of cars sold, profit, and the sales of integrated services. Our remuneration model aims to provide our entire personnel with a fair and transparent basis on which the total pay of Kamux employees in different positions is built.

We paid EUR 39 million in salaries to our personnel during 2021. The amount of salaries paid grew by 20.2 percent from the previous year. The Group’s revenue grew by 29.5 percent during the financial year 2021.