Correction: Rapala VMC Corporation’s Annual Accounts 2023: Strong Cash Flow but Sales and Profitability Down From Last Year in a Tough Market Environment

RAPALA VMC CORPORATION, Financial Statement Release, March 20, 2024 at 04:55 p.m. EET

In connection with the Group’s audited Financial Statements, the company revises the income statement and balance sheet figures published on March 7, 2024 in the Financial Statement Release. The error correction relates to financial items and impacts “Financial income and expenses” and “Income taxes” in the income statement.

In the balance sheet, non-current non-interest-bearing assets and liabilities are impacted. The correction also impacts related totals and key figures. Following the correction, net loss for the period grew by 0.4 MEUR to 7.3 MEUR. Equity was reduced respectively.

The correction does not change net sales or operating profit, nor does it impact cash flow.

The corrected Financial Statement Release for 2023 is attached to this release and the information is based on the audited Financial Statements.

Rapala VMC Corporation

Lars Ollberg

President and Chief Executive Officer

Additional Information

For additional information, please contact: Tuomo Leino, Investor Relations (tel. +358 9 7562 540)

About Rapala VMC Corporation

Rapala VMC group is the world’s leading fishing tackle company and the global market leader in fishing lures, treble hooks and fishing related knives and tools. The group also has a strong global position in other fishing categories and Rapala VMC’s distribution network is largest in the fishing industry. The main manufacturing facilities are in Finland, France, Estonia, and the UK. Rapala VMC group’s brand portfolio includes the leading brand in the industry, Rapala, and other global brands like VMC, Sufix, Storm, Blue Fox, Luhr Jensen, Williamson, Dynamite Baits, Mora Ice, StrikeMaster, Marttiini, Peltonen and 13 Fishing as well as Okuma in Europe. The group, with net sales of EUR 222 million in 2023, employs some 1 400 people in approximately 40 countries. Rapala VMC Corporation’s share is listed and traded on the Nasdaq Helsinki stock exchange since 1998.

www.rapalavmc.com

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