Hoylu AB (publ) provides an update on the previously announced tax surcharge

On 23 November 2022, Hoylu AB (publ) (“Hoylu” or the “Company”) announced a provision of SEK 4,475,000 due to a potential tax surcharge. The Swedish Tax Agency has now informed Hoylu of its decision to impose the Company with a tax surcharge of the said amount. The Company intends to appeal the decision.

As published through a press release on 23 November 2022, Hoylu made a provision of SEK 4,475,000 due to a potential tax surcharge as a result of an ongoing tax audit by the Swedish Tax Agency. The Swedish Tax Agency has now resolved to impose the Company with a surcharge of SEK 4,475,000. The decision from the Swedish Tax Agency can be appealed until 27 March 2023.

The Company intends to appeal the decision.

For more information, please contact:

Truls Baklid, CEO Hoylu AB

Tel: +47 924 38 900

Email: [email protected]

Certified Adviser:

Mangold Fondkommission AB

About Hoylu

Hoylu’s visual collaboration technology empowers distributed teams to translate ideas into actions. Large enterprises as well as small and medium companies rely on Hoylu to run projects, programs, and initiatives across time zones and continents as seamlessly as when working in the same room.

For more information: www.hoylu.com

Publication

The information was submitted for publication, through the agency of the contact persons set out above, at 10:00 PM CET on March 6, 2023.