GN Store Nord A/S announces plan to strengthen its capital structure to execute growth opportunities including a directed issue and private placing of a total of approximately 17 million shares - Seite 2

GN is confident that these actions will put the company in the best position going forward to continue our innovation strategy built on 150 years of technology-driven enhancement of vital human senses with the underlying philosophy of bringing people closer.

This entails further realization of the synergies that can be derived from a one-company mindset with hearing, audio, video and gaming technologies, competencies, and channels under one roof. The current synergies are centered around 4 main levers:

• Further leveraging and sharing deep and complex technology between GN’s diversified R&D organizations. The emerging OTC market is just one example, where GN is benefitting from both audio and hearing technologies to develop Jabra Enhance Plus, and as AI and other critical technologies continue to converge, GN’s broad range of R&D expertise and combined scale will gain increasing importance as a competitive advantage
• Further strengthening our commercialization by consolidating go-to-market models and channel overlap – most recently, SteelSeries’ and Jabra’s Retail Sales & Marketing organizations were merged into one team under the leadership of SteelSeries’ CEO to leverage the combined scale and increase relevance and strategic importance with key retailers and distributors
• Further streamlining to drive efficiencies and cost reductions as a result of one shared supply chain organization – in April 2023, GN Hearing’s and GN Audio’s two Global Operations organizations were merged into one team under one leadership with the aim to further leverage both structural and operational synergies within sourcing, manufacturing, and distribution
• Further utilizing know-how and company scale across GN's operating assets to drive synergies across back-office functions including shared IT, HR etc. Currently, a first phase of a new cloud-based ERP system has gone live as a common system to ultimately encompass all group companies

The Board and Management are confident in GN’s strategy, our markets, and our ability to execute and continue to gain market share which we believe will create significant value for shareholders in the coming years.