Fielmann Group closes acquisition of Shopko Optical and increases FY2024
outlook

EQS-News: Fielmann Group AG / Key word(s): Expansion/Takeover
Fielmann Group closes acquisition of Shopko Optical and increases FY2024
outlook (news with additional features)

01.07.2024 / 14:27 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Fielmann Group closes acquisition of Shopko Optical and increases FY2024
outlook
German family business forms leading optical retailer in the Upper Midwest
of the United States

  * Shopko Optical acquisition closed today, business will be consolidated
    from 1 July 2024

  * Fielmann Group's FY2024 sales outlook upgraded to around EUR2.3 billion
    (+15% over last year), EBITDA margin remains in line with previously
    issued guidance

HAMBURG, GERMANY / DETROIT, MICHIGAN & GREEN BAY, WISCONSIN, USA - 1 July
2024 - The Fielmann Group, a leading global eyewear provider, announced
today that it has closed on its acquisition of Shopko Optical. This
transaction was signed on 10 June 2024. It marks another important milestone
in the German family business' plans to expand internationally and execute
on its Vision 2025 growth strategy.

Shopko Optical is consolidated as part of the Fielmann Group as of 1 July
2024 and will contribute six months of business sales this year. As our
existing business performs in line with our prognosis communicated in April,
we raise our sales outlook for 2024 proportionally to around EUR 2.3 billion
(previously: around EUR 2.2 billion). Shopko Optical has a similar margin
profile as the Fielmann Group. However, the company's FY2024 profit
contribution is expected to be limited, as the North America segment will be
affected by transaction and integration costs.

Marc Fielmann, CEO of the Fielmann Group: "Fielmann's purpose is to help
everyone hear and see the beauty in the world. With the addition of Shopko
Optical we are delighted to welcome 1,100 new members to our family
business. Together with our great teams from SVS Vision and Befitting, we
look forward to redefining what US customers can expect of eyecare and
eyewear."

Lukas Ruecker, CEO of Fielmann USA, Inc.: "Fielmann USA is growing strongly
and gaining market share. We have enhanced the service and quality our
customers have come to expect, expanded capacity to significantly shorten
the waiting time to get an eye exam and introduced a novel omnichannel
shopping experience. In the coming months, changes in our assortment and
service are going to further improve the customer experience, especially for
consumers with insurance. By joining forces with the great team at Shopko
Optical we are thrilled to extend our unique offering to millions of people
across the Midwest."

Fielmann USA is pleased to announce an addition to its Executive Management:
Russ Steinhorst, former CEO of Shopko Optical, has been appointed Executive
Vice President and Chief Financial Officer (CFO) of Fielmann USA. Lukas
Ruecker continues: "With Russ Steinhorst we welcome an industry veteran with
an outstanding track record in re-building Shopko Optical and turning it
into a leading optical retailer across Wisconsin, Nebraska, and Minnesota,
in addition to 10 other US states. We also extend a warm welcome to the many
other Shopko Optical executives that have joined our family business and
will be part of our mission to redefine the customer experience across the
Midwest."

More information on the Shopko Optical transaction and our US strategy will
be provided during Fielmann Group's Annual General Meeting on 11 July 2024.

Hamburg, Germany - 1 July 2024


Fielmann Group AG
The Management Board


About Fielmann Group AG
The Fielmann Group is a German family business that serves 29 million
customers with eyewear, contact lenses, hearing aids and primary eyecare
services. It operates an omnichannel platform consisting of digital sales
channels and more than 1,200 retail stores worldwide. Founded in 1972, the
company is led by Marc Fielmann, representing the second generation of the
Fielmann Family who still owns the majority of the company's stock. By
staying true to its customer-centric values, the Fielmann Group helps
everyone hear and see the beauty in the world. Thanks to the dedication of
its 24,000 people worldwide, the company is consistently reaching customer
satisfaction and retention rates of more than 90% and has to-date fitted
more than 200 million pairs of individual prescription glasses.

About Shopko Optical
Shopko Optical (Shoptikal Topco, Inc.) is an optical retailer operating more
than 140 stores in Idaho, Illinois, Iowa, Michigan, Minnesota, Montana,
Nebraska, North Dakota, Ohio, South Dakota, Utah, Washington and Wisconsin.
The company generated US$168 million in sales in 2023. At year-end, close to
1,100 employees were driving the growth of Shopko Optical.

Pictures
Find high-resolution pictures for download at
https://www.fielmann-group.com/en/news/
The images are free for editorial use in context with Fielmann.

Further information
Katrin Carstens · Director Communications & Public Relations ·
press@fielmann.com · Phone +49 40 270 76-5907
Ulrich Brockmann · Director Investor Relations ·
investorrelations@fielmann.com · Phone +49 40 270 76-442


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Additional features:

File: https://eqs-cockpit.com/c/fncls.ssp?u=79d6d8553ee649743fdc4aa8ec44ed3d
File description: Shopko Optical Store_4c
File: https://eqs-cockpit.com/c/fncls.ssp?u=1a45b7125a3fff7fbae7d452ce561f72
File description: Marc Fielmann_CEO_Lukas Ruecker_CEO Fielmann USA_4c
File: https://eqs-cockpit.com/c/fncls.ssp?u=f3b719c9d637bb865fb2fbfde21a31f3
File description: Russ Steinhorst_Executive Vice President and CFO of
Fielmann USA

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01.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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The issuer is solely responsible for the content of this announcement.

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   Language:       English
   Company:        Fielmann Group AG
                   Weidestrasse 118 a
                   22083 Hamburg
                   Germany
   Phone:          +49 40 270 76-0
   Fax:            +49 40 270 76-390
   Internet:       www.fielmann-group.com
   ISIN:           DE0005772206
   WKN:            577220
   Indices:        SDAX
   Listed:         Regulated Market in Berlin, Dusseldorf, Frankfurt
                   (Prime Standard), Hamburg, Hanover, Munich, Stuttgart;
                   Regulated Unofficial Market in Tradegate Exchange
   EQS News ID:    1934903

End of News EQS News Service
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1934903 01.07.2024 CET/CEST