SD 1 ApS

The principal activities of the company is the operation of retail stores.

Development in activities and financial and economic position

The company's achieved profit for the year 2020/21 is DKK 747k. In 2019/20 the company had a loss of DKK 760k. The result for 2020/21 is considered satisfactory. Change in Accounting estimates Accounting estimates have been changed for Transfer Pricing position for FY 2019/20. Management has based the change upon group transfer pricing policy based on external advisors guidance and analysis of group entities and their activities and risks. The changed accounting estimate has resulted in an increase in profit for the year and equity for FY 2020/21 of 788k relating to FY 2019/20 also effecting a decrease in payables to group enterprises so the balanceeffect is T.DKK 0.

Guarantee for capital

We, the undersigned Parent Company, Superdry Plc, company number 07063562, ultimate parent company for SD 1 ApS, CVR-nr. 33955537, hereby commit ourselves unconditionally by contributions - alternatively by waiver of claims or by infusion of capital - to secure the operations of the enterprise. This Guarantee shall be in force until further notice and may be terminated at a coming Annual General Meeting of the Subsidiary to end on expiry of the following financial year. Any contribution paid should be repayable through payment of excess available gains within the scope of Danish legislation. In case of liquidation of the enterprise, contributions cannot be paid out until all other creditors have been fully covered, however, before payment to the shareholders.

Significant events after the end of the financial year

No events have occurred after the end of the financial year of material importance for the company's financial position.

In March 2020 the World Health Organization declared the global novel coronavirus disease 2019 (COVID-19) outbreak a pandemic, and the effect of this pandemic have had a huge impact on the results and financial condition of the Group and the Company. In addition, as of the date the financial statements were available to be issued, there is still uncertainty with respect long term impact.

The Company participates in a Danish joint taxation arrangement in which SUPERDRY NORDIC AND BALTICS A/S serves as the administration company. According to the joint taxation provisions of the Danish Corporation Tax Act, the Company is therefore liable for income taxes etc for the jointly taxed companies and also for obligations, if any, relating to the withholding of tax on interest, royalties and dividend for the jointly taxed companies.

Joint liabilities The company is jointly and severally liable together with the parent company and the other group companies in the joint taxable group for tax on the group’s joint taxable income and for certain possible withholding taxes, such as dividend tax, etc.

Tax payable on the Group’s joint taxable income is stated in the annual report of SUPERDRY NORDIC AND BALTICS A/S, which serves as management company for the joint taxation.

Charges and securities 9

None.