Frauenfeld, 10 April 2025

Press release
Ad hoc announcement pursuant to Art. 53 LR

DocMorris accelerates Rx growth to 52 per cent and secures CHF 200 million capital increase through firm underwriting

• DocMorris grows by 13.4 per cent across all business areas in the first quarter
• Rx revenue increase by 52.3 per cent
• TeleClinic enters next scaling phase with over 100 per cent growth
• Medium-term outlook: EBITDA margin of around 8 per cent; break-even at EBITDA level in the course of 2026 and at free cash flow in the course of 2027
• Announced capital increase of around CHF 200 million fully underwritten by banking consortium

DocMorris continued to grow in all business areas in the first quarter of 2025. External revenue^[1] increased by 13.0 per cent year-on-year, or 13.4 per cent in local currency, to CHF 296.5 million. The Germany segment recorded growth of 13.8 per cent in local currency to CHF 280.1 million. In the Europe segment, revenue increased by 7.6 per cent in local currency to CHF 16.4 million. The number of active customers[2] rose from 10.3 million at the end of December 2024 to 10.5 million at the end of March 2025.

Accelerated Rx growth
Revenue of prescription medicines (Rx) rose by 52.3 per cent in local currency in the first quarter of 2025 compared to the previous year. DocMorris benefits from a loyal customer base with a high order frequency rate and a continuously increasing number of new customers. This demonstrates that the first positive effects of the new advertising campaign are visible, which will support further development. In the current year, DocMorris is targeting accelerated Rx growth of at least 40 per cent compared to the previous year, with sequential growth expected in each quarter. In the non-Rx business^[3], the aim is to achieve growth in the high single-digit percentage range.

Continued scaling at TeleClinic
TeleClinic achieved year-on-year revenue growth of over 100 per cent in the first quarter of 2025 with a further increase of the EBITDA margin. DocMorris anticipates continued scaling, with revenue more than doubling this year as profitability continues to rise. In the medium term, DocMorris expects an annual revenue growth in the high double-digit percentage range.

Outlook
DocMorris' goal is sustainable and profitable growth that can be financed from its own free cash flow. Besides exploiting the potential of the Rx business, DocMorris plans to drive profitability in the non-Rx business, with Services (TeleClinic, Retail Media, Marketplace) expected to contribute above-average growth and underlying profitability.

Against this backdrop, DocMorris expects the following for 2025:

• External revenues growth of more than 10 per cent;
• Adjusted EBITDA of minus CHF 35 million to minus CHF 55 million (including around CHF 15 million in incremental Rx marketing);
• Capital expenditure of CHF 35 million to CHF 40 million.

Medium term outlook:

• Breakeven at EBITDA level in the course of 2026;
• Positive free cash flow in the course of 2027;
• External revenue CAGR of around 20 per cent[4];
• Capital expenditure of around CHF 35 million per year;
• EBITDA margin of around 8 per cent (as before).

Fully underwritten capital increase of CHF 200 million
The volume of the capital increase is underwritten by a banking syndicate. Further details, including setting of terms, on the rights offering are expected to be communicated in the morning of the Annual General Meeting on 8 May 2025. The proceeds of around CHF 200 million are intended to be used to realise the planned medium-term Rx growth including incremental targeted Rx marketing spend until the free cash flow breakeven point is reached in the course of 2027 and for a potential repayment of the CHF 95 million convertible bond due in September 2026.

DocMorris has today published the necessary proposals to the Annual General Meeting to amend the Articles of Association with the invitation to the Annual General Meeting scheduled for 8 May 2025. The detailed conditions of the capital increase (subscription price of the new shares, subscription ratio, issue volume) will be published on the morning of 8 May 2025, as further explained in the invitation. The capital increase with subscription rights is planned to take place following the Annual General Meeting.

⁵ Consisting of OTC business and Services.

At 11 a.m. CEST today there will be a conference call in English for analysts and the media.

Investors and analyst contact
Dr. Daniel Grigat, Head of Investor Relations & Sustainability
Email: ir@docmorris.com, phone: +41 52 560 58 10

Media contact
Torben Bonnke, Director Communications
Email: media@docmorris.com, phone: +49 171 864 888 1

Agenda

DocMorris
The Swiss-based DocMorris AG is a leading company in the fields of online pharmacy, marketplace and professional healthcare with strong brands in Germany and other European countries. Deliveries are mainly from the highly automated logistics centre in Heerlen, the Netherlands, with a capacity of over 27 million parcels per year. In Spain and France, the company operates the leading marketplace for health and personal care products in Southern Europe. With its business model, DocMorris offers its patients, customers and partners a broad range of products and services. In doing so, DocMorris is pursuing its vision of creating a digital health ecosystem for everyone to manage their health in one click. Around 1,600 employees in Germany, the Netherlands, Spain, France, Portugal and Switzerland generated an external revenue of CHF 1,085 million serving more than10 million active customers in 2024. The shares of DocMorris AG are listed on the SIX Swiss Exchange (securities number 4261528, ISIN CH0042615283, ticker DOCM). For further information, please visit corporate.docmorris.com.

Disclaimer

This publication constitutes neither an offer to sell nor a solicitation to buy securities of the Company and it does not constitute a prospectus or a similar notice within the meaning of articles 35 et seqq. or 69 of the Swiss Financial Services Act. Copies of this publication may not be sent to jurisdictions, or distributed in or sent from or otherwise made publicly available in jurisdictions, in which this is barred or prohibited by law. Any offer and listing will be made solely by means of, and on the basis of, a prospectus which is to be published. An investment decision regarding any publicly offered securities of the Company should only be made on the basis of such prospectus. The prospectus, if and when published, will be available free of charge on the Company's website.

This communication is being distributed only to, and is directed only at (i) persons outside the United Kingdom, (ii) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "Relevant Persons"). Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Any person who is not a Relevant Person must not act or rely on this communication or any of its contents.

This communication does not constitute an "offer of securities to the public" within the meaning of Regulation 2017/1129 of the European Union (the "Prospectus Regulation") of the securities referred to in it (the "Securities") in any member state of the European Economic Area (the "EEA") or, in the United Kingdom ("UK"), the Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended (the "UK Prospectus Regulation"). Any offers of the Securities to persons in the EEA or the UK will be made pursuant to an exemption under the Prospectus Regulation or the UK Prospectus Regulation (as applicable), as implemented in member states of the EEA or the UK, from the requirement to produce a prospectus for offers of the Securities.

The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States except pursuant to an applicable exemption from, or in a transaction not subject to the registration requirements of the Securities Act. The issuer of the securities has not registered, and does not intend to register, any portion of the offering in the United States, and does not intend to conduct a public offering of securities in the United States.

This communication is not for distribution in the United States, Canada, Australia, Japan or any other jurisdiction in which the distribution or release would be unlawful or require registration or any other measure. This communication does not constitute an offer to sell, or the solicitation of an offer to buy, securities in any jurisdiction in which is unlawful to do so.

This publication may contain specific forward-looking statements, e.g., statements including terms like "believe", "assume", "expect", "forecast", "project", "may", "could", "might", "will", “should”, “plans” or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the Company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility to up-date forward-looking statements or to adapt them to future events or developments.

^[1] External revenue consists of the consolidated revenue of DocMorris plus online revenues of pharmacies supplied by DocMorris, less the consolidated revenue from supplying them.

^[2] Customers supplied by DocMorris, either directly or through its partners.

^[3] Consisting of OTC business and Services.

^[4] Increasing annual growth rates due to Rx dynamics.