Foreword by the Executive Board

Dear ladies and gentlemen, Dear Vorwerk Community,

Financial year 2023, which we look back on in this Annual Report, was also characterized by many challenges and difficult economic conditions. This affected a whole range of companies from a wide variety of industries. Leading companies in the direct selling sector also experienced declines in sales.

The Vorwerk Group, on the other hand, has once again proven that it can handle these exceptional situations extraordinarily well thanks to its special direct selling model. We are pleased to report sales growth once again in our core business, now for the fourth year in a row. Overall, we have been able to increase our revenue in the Culinary and Cleaning divisions, including akf group, by nearly EUR 720 million since 2019. It is equally pleasing that net profit has increased significantly following the elimination of non-recurring effects in 2023.

We were also able to increase the number of advisors again as of December 31, 2023, with more than 100,000 people working for us in direct sales worldwide.

The positive development of the Group overall in recent years is closely linked to the implementation of our Strategy 2025. There are three core elements that continue to be the focus: Expansion and maintenance of the Vorwerk Community of advisors, customers and employees, the further development of person-based direct sales via three connected channels with the advisors at the center, and innovative products and services.

The Vorwerk Group therefore has every reason to look to the future with confidence despite all the uncertainties. Our particular strength is our core business with Vorwerk direct sales. Our advisors and our employees prove every day how passionately they stand up for Vorwerk.

As the Executive Board, we are particularly proud of this. We would like to thank you all for your daily commitment and express our praise and appreciation.

Wuppertal, March 15, 2024
On behalf of Vorwerk SE & Co. KG