The Board of Directors of Fragbite Group has resolved to propose a reverse split of shares. Each shareholder will automatically receive a new, lower number of shares in direct proportion to their respective holding. Shareholders whose holding on the record date is not evenly divisible by the determined division number shall receive shares at no cost in order for the holding to be evenly divisible.

The reverse split will be implemented during the fourth quarter of 2024 provided that the proposal is approved at an Extraordinary General Meeting. A number of larger shareholders have been consulted in the matter and have confirmed their support for the proposal.

Proposed timeline and division number for the reverse split will be communicated in conjunction with the notice to the Extraordinary General Meeting,