Press Release 01.06.2021

Finnish functional food company Eevia Health – a leading supplier of bioactive plant extracts from berries, mushrooms and pine trees – to list on Spotlight Stock Market

NOT FOR PUBLICATION OR DISTRIBUTION, WHETHER DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES AUSTRALIA, JAPAN, CANADA, NEW ZEALAND, SOUTH AFRICA, HONG KONG, SWITZERLAND, SINGAPORE OR ANY OTHER COUNTRY IN WHICH THE DISTRIBUTION OF THIS PRESS RELEASE REQUIRES FURTHER ACTION IN ACCORDANCE WITH THE PREVIOUS STATEMENT OR IS CONTRARY TO THE RULES IN SUCH COUNTRY. DISPUTES ARISING FROM THE CONTENTS OF THE MEMORANDUM OR RELATED LEGAL RELATIONSHIPS SHALL BE SETTLED IN ACCORDANCE WITH FINNISH LAW AND IN FINNISH COURTS.

The Board of Directors of Eevia Health Plc (”Eevia” or ”The Company”) today announces its intention to list the Company’s shares on Spotlight Stock Market. In connection with the listing, Eevia will offer the public in Sweden and institutional investors the opportunity to subscribe for a maximum of 3,445,000 newly issued shares in the Company (the “Offer”). The subscription period runs from the 2nd of June to 16th of June and the preliminary first day of trading on Spotlight is the 29th of June 2021.

The Company has received subscription commitments of SEK 15,2m corresponding to 58 percent of the total issue volume.

CEO Stein Ulve comments: “Eevia Health addresses global health problems with bioactive ingredients used in dietary supplement products. Powerful and potent compounds exist in abundance in underutilized natural plant resources across our large and well-managed Nordic forests. Eevia Health takes the lead on organically certified plant-based nutraceutical ingredients in a 500 billion euro growing market. Our IPO and listing at Spotlight Stockmarket enable us to take our company to the next level and to realize a significant value potential for shareholders. The majority of the subscription commitments have been given by our current shareholders. I wish to thank them for their continued support as well as welcome new investors on our mission to make the world healthier.”

The information memorandum regarding the Offer, including complete terms and instructions, will be published on Eevia’s (www.eeviahealth.com) and Partner Fondkommission AB’s (www.partnerfk.com) respective websites. The application form will be published on the above-mentioned websites in connection with the start of the application period.

Motive of the offer

Eevia Health has experienced a growing demand for its products. In the first quarter of 2021 the Company had 30 full time employees compared to 8 a year earlier. The factory is running 24/7 to meet customer demand. Product sales increased by 560 percent in the first quarter compared to the corresponding period in 2020 for a total of 1.9 million euro. Eevia is in discussions with customers regarding large multi-year contracts that will require further volume ramp up.

Eevia Health sees potential for strong growth and strong profitability. The Company has adopted the following financial targets to be achieved by 2024:

• Turnover above 25 million euro
• Gross margin above 40 percent
• EBITDA-margin above 15 percent

To finance Eevia’s continued development and to meet the strong demand for the Company’s products, the Eevia’s Board of Directors has resolved on the Offer. Eevia’s Board of Directors and executive management team are of the opinion that a listing on Spotlight Stock Market will benefit the Company by giving access to the public capital market in Sweden and internationally, while also strengthening the Company’s profile through increased brand awareness at a time of accelerated growth and development.  The proceeds from the Offer are primarily intended to finance investments in production equipment to increase capacity. In addition, the Offer is also intended to strengthen the net working capital going forward allowing for more effective raw material sourcing

The offer in summary

Subscription period: 2 June – 16 June 2021.

Subscription Price: SEK 7.6 per share

Subscription post: The minimum subscription is 1,000 shares, corresponding to SEK 7,60

Issue volume: 3,445,000 shares, equivalent to SEK 26,182,000

Number of shares before the new issue: 10,506,500 shares

Valuation (pre-money): SEK 79.8 million
Subscription commitments: The Company has received subscription commitments corresponding to SEK 15,2 million
ISIN-code for the share: FI4000496658
Expected first day of trading on Spotlight Stock Market: 29th of June 2021

About Eevia

Eevia was founded in 2017 with the mission to address global health problems through the sustainable production and distribution of bioactive plant extracts, which have scientifically documented health benefits. Through utilization of raw material sources, often under-utilized raw materials abundantly available in the Nordic forests, and sometimes inexpensive by‐products from food and wood‐industries, Eevia manufactures and markets organically certified nutraceutical ingredients.

The products are targeted against immune health, low-grade inflammation, eye and brain health problems and metabolic disorders. The increasing health awareness among consumers, combined with the increased focus on sustainable business models, constitute a strong and significant trend from which Eevia stands well equipped to capitalize, resulting in an accelerating growth trajectory.

Eevia is headquartered in Seinäjoki, Finland. As of the end of 2020, the Company had 28 full-time employees and its total revenue for the full year ended December 31st, 2020 was EUR 2.86m. Growth has accelerated in 2021 and extract sales reached EUR 1.9m in the period 1st January – 31st March, corresponding to 560 percent sales growth compared to the same period prior year.

Preliminary time plan

Subscription period: 2nd – 16th of June 2021

Announcement of the outcome: 17th of June 2021

Settlement day: 22nd of June 2021

First day of trading: 29th of June 2021

Advisors

Partner Fondkommission is acting as Financial Adviser to the Company. Partner Fondkommission AB and OP Bank are issuing agents in connection to the Offer and Partner.

For further information, please contact:

Stein Ulve, CEO, Eevia Health Oyi                           Kim Nurmi-Aro, CFO, Eevia Health Oyj

Email: stein.ulve@eeviahealth.com                       kim@eeviahealth.com

Telephone: +358 400225 967                                  +358 50 444 0717

Partner Fondkommission AB

Lilla Nygatan 2

SE-411 04 Göteborg

Tel. +46 (0) 31 16 27 80

Email: info@partnerfk.se

Sweden