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Disclaimer

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

Worth the trust

Code of conduct and good governance

Kamux aims to be a car retail forerunner in creating a culture of trust and openness. We comply with laws and regulations and require our employees to follow Kamux’s Code of Conduct in their daily work.

Each new Kamux salesperson receives a thorough training for the working ways of the Code of Conduct. Internally, this promotes the good consumer sales and governance practices facilitating the excellent customer experience which is of strategic importance to Kamux.

At Kamux, we do not advance our own interests nor accept bribes and do not approve, facilitate or advance money laundering or grey economy. We also require all suppliers of cars, services or other goods partnering with us to comply with our Code of Conduct in addition to laws and regulations.

We always comply with the Consumer Protection Act and during the sales process, we disclose the condition of the car and its potential shortcomings honestly and participate in car repair costs in accordance withthe life-cycle approach recommended by consumer advice services.

Kamux offers its employees an anonymous whistle blowing channel for reporting any possible actions violating the Code of Conduct, possible misconduct or suspicions of misconduct. There is also a general feedback email available on the company’s website. In 2019, we received two whistle blowing notifications from outside the company, which were processed and investigated according to the process. They did not warrant further action.

Excellent customer experience

Kamux wants to offer the best customer experience in used car retail. The goal is for our customer interactions to be smooth, transparent, creating trust and encouraging recommendations. For customers buying a car, we offer the possibility of smooth omnichannel interactions – most of our customers today choose a combination of online and showroom service.

All customers who have purchased a car are sent a customer satisfaction survey. The results of the survey function as a key indicator for the success of our operations and service. Kamux has set the customer satisfaction target level at 4.5/5. In 2019, a total of 5,140 of Kamux’s car-purchasing customers (6,081 in 2018) took part in the survey, and we achieved an overall score of 4.3/5 (4.2/5 in 2018) in our markets. Customer satisfaction improved from the previous year towards the target we have set. We believe that this development was supported by the internal trainings we organized during the year, which focused on customer experience.

Kamux’s after-sales service team together with sales are tasked with managing claims in accordance with the company’s internal guidelines in all operating countries. We aim to handle claims as openly, quickly and fairly as possible to achieve a firstclass customer experience in all situations, which is why we increased resources in our after-sales service in 2019.

Value for owners

Kamux is committed to profitable growth. Our goal is to increase our shareholder value through long-term, systematic work. We estimate that our growth is based on a solid foundation; we develop our existing showrooms and open new showrooms in strategically important sales venues in growth centers and in good retail hub locations. We increase sales by using digital sales and customer service channels and cross-selling.

After the stock exchange listing in 2017, Kamux’s revenue has increased by approximately 20 percent per year. During the financial year 2019, our revenue increased to EUR 658.5 million, growing by 24.8 percent from the previous year. Our adjusted operating profit was EUR 25.4 million, accounting for 3.9 percent of revenue. Return on equity in 2019 was 25%. Kamux aims to distribute a dividend of at least 30 percent of profit for the financial year. For the financial year 2019, Kamux’s Board of Directors proposed a dividend payout of 48.4 percent of profit.

Conscientious taxpayer

Our tax footprint was EUR 74.1 (56.8) million. The most significant amounts related to payment of taxes were the car taxes as well as marginal and VAT taxes paid. We paid EUR 5.0 (4.9) million in income tax in 2019.