Accounting update fiscal year 2023/24

Lynge, Denmark – July 29, 2024 – WSA announces that the useful lives for two categories of intangible assets recognized at the time of the business combination in 2019, “Customer Relationships” and “Core Technology and Intellectual Property”, will be aligned to medical device industry standards of 3-5 yrs.

This decision follows the mandatory annual review of the amortization period of intangible assets as required by International Accounting Standard number 38 in IFRS (IAS 38).

The change in useful lives for these two categories will result in an additional amortization expense of approximately EUR 1.1 billion in the Group’s consolidated financial statements for the full year 2024.

The review and the resulting change in useful lives will have no impact on EBITDA guidance or future EBITDA earnings, current or future revenue streams or cash flows.

About WS Audiology

Formed in 2019, through the merger of Sivantos and Widex, WS Audiology combines over 140 years’ experience in pioneering the use of technology to help people with hearing loss hear the sounds that make life wonderful. With truly differentiated brands like Widex, Signia, Rexton, Audio Service and Vibe, and with diverse assets across wholesale, retail, online, managed care and diagnostic solutions, we are active in over 130 markets. WS Audiology employs 12,500+ people and is privately owned by the Tøpholm and Westermann families and the Lundbeck Foundation, as well as funds under the management of EQT. As a global leader, our ambition is to unlock human potential by making wonderful sound part of everyone’s life. Learn more at www.wsa.com