Gradual closure of stores specialised in footwear sales

TKM King AS, subsidiary of Tallinna Kaubamaja Group, will gradually close its ABC KING and SHU physical stores that are specialised in footwear sales during 2022. The Group will continue footwear sales through e-channels, in Kaubamaja and in larger Selver stores. At present, there are no plans to sell shares of TKM King AS, termination of the company neither change the composition of the management board. The closure decision does not have significant impact on the Group’s financial results.