Dear Madam, Dear Sir, Dear Investor,

2021 was a major year in Spartoo's development. The success of our IPO, which provided us with additional resources to strengthen our brand awareness and online fashion offering, provided a vehicle to accelerate our development. This was reflected in the confirmation of our GMV growth target of 10% compared to 2020, and in the preservation of a high level of profitability considering the strategic investments made over the period, especially in marketing.

In line with our social and environmental commitments, illustrated in particular by the launch of NewLife, a platform dedicated to the purchase and sale of second-hand products, we are pursuing our objective of delivering profitable but responsible growth.

Finally, 2021 was marked by the increase in services dedicated to professionals, whether for transport, logistics or the digitalization of physical points of sale. All of these areas of expertise reflect our know-how in the e-commerce sector, which has been distinguished and rewarded many times over.

All these achievements, as well as the overall positive trend in all our activities at the beginning of 2022, make us confident in our ability to achieve our medium-term objectives: an annual growth above 10% over the next few years and an EBITDA margin of 7%.

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