Spartoo Announces the Approval of Its Registration Document by the AMF French Stock Market Authority Within the Framework of Its Planned IPO on Euronext Growth in Paris

Do not release, directly or indirectly, in the United States of America, Canada, Australia or Japan.

Spartoo (the "Company"), one of the leading online retailers for footwear and fashion items in Europe, announces that the AMF French stock market authority has approved its registration document under no. I. 21-028 dated June 4, 2021.

This represents the first step in the process for an IPO by Spartoo on Euronext Growth multilateral trading system in Paris, subject to market conditions and to the approval by the AMF of the prospectus relating to the operation.

Boris Saragaglia, Spartoo's co-founder, Chairman and Chief Executive Officer, stated: "We are convinced that a stock market listing will enable us to accelerate our sustainable growth strategy, founded since 2006 on transparency, independence and societal impact, strong features of our corporate culture shared by our 410 employees of 26 nationalities. More specifically, this IPO project is fully aligned with our intention to strengthen our fashion offering, including footwear, the core segment on which we have established our leadership, while expanding our offering into new segments, such as home decoration. It is also an opportunity to raise the Spartoo's brand awareness in order to capitalize on the current strong momentum in e-commerce and on demand to digitalize physical shops. Offering one of the widest selections of fashion items in more than 30 countries across Europe, and controlling the entire value chain, including transport, logistics and customer service, Spartoo is ideally positioned to write a new chapter in its ambitious development. We sold more than 3 million pairs of shoes in 2020, and our website attracts 14 million unique visitors per month. We remain more committed than ever to our longstanding goal of offering consumers the broadest choice of attractively priced fashion products in Europe, while maintaining a very high level of customer satisfaction. In every respect, this IPO project meets our goal of accelerating growth by associating new shareholders, ready to participate alongside us on what will be an exciting, people-focused adventure."

Active in over 30 countries, Spartoo enjoys robust growth momentum (2008-2020 GMV¹ CAGR²: 23%) that allowed the Company to achieve a GMV of €194 million in 2020, 39% of which is generated abroad, and consolidated pro forma revenue of €134 million³, thanks to its digital native positioning in the sale of fashion items (footwear, apparel, and bags). The Group has rapidly focused its efforts on achieving and improving profitability, reporting a positive EBITDA from 2014 onwards, thus relying on self-financing capacity since 2012.

Spartoo's growth is fuelled by the structural dynamics of e-commerce, which has gained pace with the pandemic, and by clearly identified competitive strengths:

• One of the widest ranges of fashion items in France and in Europe, with 8,000 brands and 700,000 models⁴, supported by a business model geared to serving the huge European footwear and apparel online market worth an estimated $84 billion in 2020 and expected to grow by 8% on average per annum between 2020 and 2025 (source: Euromonitor). Spartoo's offer in fashion retail stands out in particular through the promotion of more than 16 proprietary brands, 10 of which were created in-house, such as Betty London, Citrouille Compagnie, Dream in Green, Fericelli, Casual Attitude, Carlington and So size,or through acquisitions, such as GBB, JB Martin, Christian Pellet, Un matin d'été, Little Mary and Easy Peasy. This brand strategy is underpinned by significant know-how, from trend analysis to raw materials sourcing, handled by the Group's research department or via partners located mainly in Europe. This approach enables the Group to develop exclusive products supporting customer loyalty while keeping its costs under tighter control. Overall, all Spartoo's sales represented a GMV of €194 million in 2020.

• A customer-centric approach demonstrated by a very high level of customer satisfaction, as reflected by a Trustpilot rating of 4.3, one of the highest in the industry in France. This strategy is based on close customer relationships handled by an in-house call center and on in-depth knowledge provided by a database of around 400,000 regularly surveyed panelists in order to spot future trends. The user experience, the second pillar of the customer-centric approach, is ensured, beyond the unmatched product offering, by the quality of the interface and by full control of the delivery chain, guaranteeing an optimal shopping experience. Spartoo also benefits from an in-house logistic platform based in Lyon, equipped with state-of-the-art technological facilities, and controls its entire transport chain via a network of local partners in Europe. This is a major strength that allows Spartoo to make 98% of its deliveries on time, which represents a critical factor for customer satisfaction.

• Substantial economies of scale thanks to in-house technological expertise based on the quality of the IT architecture and proprietary digital marketing tools. This unique expertise leads to advanced optimizations concerning marketing expenses to bring the cost of acquiring new customers under tight control and also concerning on-site pricing, which is adjusted to demand to maximize the profitability of sales.

• An omnichannel strategy offering substantial synergies between the online sales model and the benefits associated with physical point of sales (delivery, advice, close customer relationships), supporting brand loyalty and brand awareness, while positively contributing to the model's profitability by generating additional sales. The Company manages six phygital shops, under its own name, spread evenly across the country and three shop-in-shops corners at the "Le Printemps" shopping malls in Brest, Tours and Metz. These areas, in which Spartoo sells its footwear, offer shoppers the full range available on Spartoo.com through the in-store digital interface.

• The ability to capitalize on its expertise in e-commerce via a full range of services covering logistics, transport and digitalization of physical shops. Alongside its consumer range (B2C) available on its website, on its marketplace and in its phygital shops (around 91% of the 2020 GMV), Spartoo leverages its 15 years of experience to serve brands, independent shops and e-commerce retailers, helping them to accelerate their development and their online business. This offering for third parties (around 9% of 2020 GMV) operates in synergy with the online offering, powering a virtuous circle of improvement in service quality and supporting lower unit transport costs.

• SRI commitments firmly anchored at the heart of the strategy. Concerning environmental issues, Spartoo operates a website for sales between private individuals that already offers over 40,000 products just after two months of operation, is eco-designing 20% of the products in the new summer 2021 collection and is aiming to produce 50% of its proprietary brands in an eco-responsible manner. Spartoo places women and men at the heart of its priorities, as reflected by the Company's longstanding support for various outreach initiatives addressing education in most underprivileged countries (e.g., La paire solidaire), public health (Association AMREF in Africa) and disabilities (APF France Handicap). This key priority is also reflected in the level of accident rate, which is one of the lowest in the sector and led to the award of a national prize by the INRS⁵ in 2019. Reflecting this core element of its corporate culture, Spartoo recently achieved a Gaïa rating of 73, which, according to EthiFinance, corresponds to an "Advanced" level of performance since the benchmark for comparables (companies in the Distribution and Consumer Goods sectors with less than 500 employees) is 59/100.

Availability of the registration document

Spartoo's registration document is available from the Company's (www.spartoo-finance.com) and AMF's (www.amf-france.org) websites, as well as free of charge upon request from the Company's head offices at 16 rue Henri Barbusse, 38100 Grenoble. The registration document contains a detailed description of the Company, including its operations, its strategy, its financial position and its results, as well as related risk factors. The Company would like to draw investors' attention to Chapter 3 "Risk factors" contained in the registration document filed with the AMF.

Disclaimer

No communication and no information in respect of the offering by Spartoo of the shares (the "Shares") may be distributed to the public in any jurisdiction where a registration or approval is required. No steps have been or will be taken outside of France in any jurisdiction where such steps would be required. The offering and subscription of the Shares may be subject to specific legal or regulatory restrictions in certain jurisdictions. Spartoo assumes no responsibility for any violation of any such restrictions by any person.

This announcement is not a prospectus within the meaning of Regulation (EU) 2017/1129 of the European Parliament and the Council of June 14^th, 2017, as amended (the "Prospectus Regulation

The offer will be open solely to the public in France after the delivery by the AMF of its approval on the relevant prospectus

With respect to the member States of the European Economic Area other than France (each, a "relevant member State") no action has been undertaken or will be undertaken to make an offer to the public of the securities requiring a publication of a prospectus in any relevant member State. As a result, the Shares can only be offered and will only be offered in relevant member States (a) to legal entities that are qualified investors as defined in the Prospectus Regulation or (b) in accordance with the other exemptions of Article 1(4) of the Prospectus Regulation.

For the purposes of this paragraph, the notion of an "offer to the public of Shares" in each of the relevant member States, means any communication to persons in any form and by any means, presenting sufficient information on the terms of the offer and the Shares to be offered, so as to enable an investor to decide to purchase or subscribe for those securities.

This selling restriction comes in addition to the other selling restrictions applicable in the other member States.

This press release and the information it contains are being distributed to and are only intended for persons who are (x) outside the United Kingdom or (y) in the United Kingdom who are qualified investors (as defined in the Prospectus Regulation as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018) and are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), (ii) high net worth entities and other such persons falling within Article 49(2)(a) to (d) of the Order ("high net worth companies", "unincorporated associations", etc.) or (iii) other persons to whom an invitation or inducement to participate in investment activity (within the meaning of Section 21 of the Financial Services and Market Act 2000) may otherwise lawfully be communicated or caused to be communicated (all such persons in (y)(i), (y)(ii) and (y)(iii) together being referred to as "Relevant Persons"). Any invitation, offer or agreement to subscribe, purchase or otherwise acquire securities to which this press release relates will only be engaged with Relevant Persons. Any person who is not a Relevant Person should not act or rely on this press release or any of its contents.

This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities nor of any offer or solicitation to sell securities in the United States. The securities mentioned herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold, directly or indirectly, within the United States except pursuant to an exemption from or in a transaction not subject to, the registration requirements of the Securities Act. Spartoo does not intend to register any portion of the proposed offering in the United States nor to conduct a public offering of securities in the United States.

The distribution of this document in certain countries may constitute a breach of applicable law. The information contained in this document does not constitute an offer of securities for sale in the United States, Canada, Australia or Japan.

This press release may not be published, forwarded or distributed, directly or indirectly, in the United States, Canada, Australia or Japan.

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¹ GMV: Gross Merchandise Value (Total value of goods and services sold including VAT and net of returns)

² CAGR: Compound Annual Growth Rate

³ At the end of 2020, on the BtoC activity (91% of Spartoo's consolidated revenues):

Direct purchase: Sales before tax GMV before tax

Marketplace: Sales before tax (% Commission x GMV before tax) monthly subscription

⁴ Source: Company

⁵ INRS: Institut National de Recherche et de Sécurité (National Institute for Research and Security)

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Contacts:

Spartoo
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NewCap
Louis-Victor Delouvrier
Nicolas Fossiez
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Nicolas Merigeau
Media Relations
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