Musti Group plc (the "Company") has on 21 March 2024 received a notification in accordance with the Chapter 9, Section 5 of the Finnish Securities Markets Act from Sand Grove Capital Management LLP, according to which the combined holding of the voting rights of the Company of the following parties ("Sand Grove") decreased below the threshold of 5 per cent on 20 March 2024:

SAND GROVE OPPORTUNITIES MASTER FUND LTD

INVESTMENT OPPORTUNITIES SPC FOR THE ACCOUNT OF INVESTMENT OPPORTUNITIES 2 SEGREGATED PORTFOLIO

NEW HOLLAND TACTICAL ALPHA FUND

PRELUDE STRUCTURED ALTERNATIVES MASTER FUND LP

QSMA TORUS SP

AMUNDI SAND GROVE EVENT DRIVEN FUND

Sand Grove holds a total of 0 voting rights corresponding to an ownership of 0.00% per cent of the Company's shares.

Total positions of Sand Grove according to the notification:

% of % of shares and Total Total number of shares
shares voting rights of and voting rights of
and through financial both in issuer
voting instruments (total %
rights of B) (A + B)
(total
of A)
Resulting N/A 0.00 0.00   33,535,453
situation on the (voting
date on rights
which threshold only)
was crossed or
reached
Position of N/A 5.18 (voting 5.18   33,535,453
previous rights only) (voting
notification rights
(if applicable) only)

Notified details of the resulting situation on the date on which the threshold was crossed or reached:

A: Shares and voting rights

Class/type Number % of shares and voting rights
of shares of
shares
and
voting
rights
ISIN code Direct Indirect Direct Indirect
(if (SMA (SMA 9:6 and 9:7) (SMA 9:5) (SMA 9:6 and 9:7)
possible) 9:5)
FI4000410758 N/A N/A N/A N/A
SUBTOTAL A N/A N/A N/A N/A

B: Financial instruments according to the Finnish Securities Market Act 9:6a

Type of Expiration Exercise/ Physical or Number of shares % of shares
financial date Conversion cash and voting rights and voting
instrument period settlement rights
CFD Cash 0 (voting rights 0.00 (voting
only) rights only)
SUBTOTAL B 0 (voting rights 0.00 (voting
only) rights only)

Additional information

Martin Svedholm

Director, Treasury and Investor Relations

tel. +358 50 579 0324, martin.svedholm@mustigroup.com

Musti in brief

Musti makes the life of pets and their owners easier, safer and more fun. We are the leading Nordic pet care company, and we operate an omnichannel business model to cater for the needs of pets and their owners across Finland, Sweden and Norway. We offer a wide, curated assortment of pet products. We also provide pet care services such as grooming, training and veterinary services in selected locations.

Musti Group's net sales were EUR 426 million in the financial year 2023. At the end of the financial year 2023, the company had 1,643 employees, 1.5 million loyal customers and 342 stores.