Dear Madam, Dear Sir, Dear Investor,

Spartoo remained true to its commitments in 2024, increasing its free cash flow to more than €6 million by optimizing its investments and costs and reducing its inventory. This strategy, which had already demonstrated its relevance in 2023, continues to pay off in 2024. Despite a still deteriorated market environment, we thus managed to maintain a positive adjusted EBITDA, almost stable compared to 2023, by reducing our net debt by more than half over the period.

Our recent decision to focus offline activity on the creation of corners and affiliation should also have a favorable impact on our profitability in the 2025 financial year

Boris Saragaglia, Spartoo's co-founder, Chairman and Chief Executive Officer