Inzile AB (publ) has today, October 12, 2021 completed the transaction with eFashion Championship PTE Ltd (“eFC”) that was announced on August 5, 2021, as follows.

In accordance with the unanimous approval of an Extraordinary General Meeting of Inzile on September 20, 2021, Inzile has acquired 80% of the shares in QEV Tech Holdings SL, (“QEV Holdings”), which in turn owns 19.64% of the shares in the Spanish electric vehicle-oriented technology company QEV Technologies SL. The purchase price was approximately SEK 494 million and access took place immediately.

In connection with the acquisition, the Board of Directors of Inzile, in accordance with the unanimous authorization of the said Extraordinary General Meeting, has decided on a directed share issue to eFC, by offsetting eFC’s entire claim against Inzile attributable to the transfer of shares in QEV Holdings. This means that after registration of the share issue, eFC will own 63% of Inzile. The subscription price was SEK 14.62 per share, which is based on a volume-weighted average price during the period 20 September-6 October 2021.

A condition for the acquisition was that eFC was granted an exemption from its obligation to bid, which would otherwise have arisen in connection with share subscription in the share issue in question. The Swedish Securities Council has granted such an exemption, hence the condition has been met.

For further information, please contact:

Klas Åhgren, acting CEO Inzile, klas.ahgren@inzile.com, +46 70 985 58 02

Peter Wergens, CFO Inzile, peter.wergens@inzile.com, +46 73 325 75 04

This information is such that Inzile AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation (MAR). The information was provided by the above contact persons, for publication on October 12, 2021 at 16.30 CET.