Announcement no. 18 / 2013 Changes to management at SmartGuy Group A/S SmartGuy Group A/S has appointed Thomas Wandahl as new Group CEO of the SmartGuy Group. Thomas Wandahl comes from a position as CEO of Telmore, a rapidly growing telecommunications company with large online activities aimed at consumers. Co-founder of SmartGuy A/S, Nicolai Kærgaard, will continue in the company as part of management as Director of Business Development. Nicolai Kærgaard says: "I am thrilled that we have been able to attract someone like Thomas. Thomas has been responsible for major organizations in the telecommunications sector, and he has further learned about customer focus, when he built the EuroBonus program previously working at SAS". Nicolai Kærgaard continues: "The role you have as a CEO is different at different stages of a company's size. I have enjoyed spearheading the development of SmartGuy for many years, but I think the role expected of a CEO at a company of SmartGuy 's size, is not what motivates me. Therefore, I would rather focus on business development , leaving the role as Group CEO for Thomas, who I think will make a big difference for us." Thomas Wandahl says: "I ​​am very pleased and proud to have been given the task of taking SmartGuy to the next level . SmartGuy is an international company with a very strong base in Denmark, as well as a strong purchasing, logistics and technology platform that I with my experience from marketing and customer service look forward to scale further in the coming years." Chairman Klaus Nyengaard says: "Nicolai has delivered a great performance as director of SmartGuy, and has travelled all the way from the basement to the current status as a listed and leading Nordic player in the fashion e–commerce business. The board respects that Nicolai wants to redefine his role in relation for the next growth phase, and I’m sure it is a clear advantage and strengthening of the company that we retain Nicolai in a business development role as well as getting Thomas onboard with his his experience and energy." Thomas Wandahl is expected to start on January 1. 2014. Questions regarding this notice should be addressed to CEO Nicolai Kærgaard on mobile number +45 26 22 99 11 or CFO Marc Jeilman on mobile number +45 20 35 25 80 SmartGuy Group A/S

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