CEO Mathias Lundoe Nielsen comments:

"This past quarter have been an eventful one, particularly colored by the ongoing pandemic crisis (Covid19). The situation is, as has been described before, extreme and we are constantly evaluating the situation to implement all possible measures, which we believe in the long run will have a positive impact on Nustay and its business."

Q1 (2020-01-01 – 2020-03-31)

• Total sales (handled revenue) amounted to DKK 46.0m (25.1m) (Non IFRS – measure)

This represents an increase of 62% from Q4 2019, even though March was heavily impacted by the current Covid19 crisis, and February to some degree also.

• Total commission (net revenue) amounted to DKK 3.9m (1.6m).
• Result after financial items amounted to DKK -13,5m (-8.1m).
• Net income amounted to DKK -10.4m (-6.3m).
• Net income per share* amounted to DKK -0.50 (-0.60).
• Cash flow from operating activities amounted to DKK -16.3m (-12.6m).***
• Equity ratio** amounted to 25% (64%).
• Cash and cash equivalents amounted to DKK 1.9m (11.3) million.

Numbers in parenthesis are the numbers from the same period in 2019.

For more detailed comments to Q1 financials please ref. to page 6 in the Q1 report

* The group’s net income per share: the net income for the period divided by 20 582 603 the average number of shares for the period. The total number of shares in Nustay A/S was 48 588 440 shares per 2020-03-31.

** Equity ratio: Shareholder’s equity divided by total capital.

*** Loans from shareholders and management have in the cash flow statement been re-classified from operating activities to financing activities. The numbers for comparable periods have been updated accordingly.

Significant events during the first quarter of 2020:

• On January 31st, Nustay announced plans to conduct a rights issue of shares and warrants and hits a new all- time high sales record of DKK 1.1 million.

• On January 31st, Nustay called for an extraordinary general meeting on February 17th.

• On February 5th, Nustay announced that a new international website has been launched, including flights, car rental and airport transfers.

• On February 17th, Nustay announced that the EGM authorized the board of directors to increase the share capital of the Company. The board of directors has proposed a number of resolutions to the shareholders at the extraordinary general meeting granting the board of directors’ authorisations to issue shares, warrants and to convert debt into shares.

• On February 21st, Nustay announced that a partnership agreement has been signed with TripAdvisor Inc. The partnership means that Nustay will include the TripAdvisor company Viator, Inc.'s services in its offer. Viator, a brand operated by TripAdvisor, offers over 200,000 bookable tours and activities, which includes everything from cultural daytrips to helicopter tours.

• On March 4th, Nustay decided to carry out fully pre-subscribed and underwritten committed rights issue of shares and warrants, gives market update and publishes prospectus.

• On March 9th, Nustay published a market update: an assessment of Nustay’s performance in the context of the global Coronavirus outbreak.

• On March 10th, Nustay announced the beginning of the subscription period in Nustay’s rights issue.

• March 22nd, Nustay announced the last day of trading in pre-emptive subscription rights in the ongoing rights issue.

• On March 23rd, Nustay published an update on Business- and Market related update in connection to COVID-19.

• On March 24th, Nustay announced the last day for subscription in the rights issue of shares and warrants in Nustay A/S.

• On March 25th, Nustay announced the first day for trading in units in connection to the rights issue.

• On March 27th, Nustay announced the outcome of the rights issue. The rights issue was subscribed to a total of approximately DKK 27.3 million (incl. underwriting commitments), corresponding to a subscription rate of approximately 100 percent.

Significant events after the end of the period:

• On April 6th, Nustay announced that the rights issue has been registered at the Danish Business Authority.

• On April 8th, Nustay postponed the Annual General Meeting due to COVID-19 from April 30th to May 29th, 2020.

• On May 15th, Nustay postponed the Annual General Meeting due to COVID-19 from May 29th to August 28th, 2020.

This information is information that Nustay A/S is obliged to publish following the EU Market Abuse Regulation. The information was provided by the contact person above for publication on May 27^th, 2020.

For further information about Nustay, please contact:

Nustay A/S

E-mail: investor@nustay.com

Website: www.nustay.com

About Nustay

Nustay is a Danish online hotel booking company established in 2014. The company has developed an innovative booking platform offering the lowest possible hotel prices while also enhancing customer’s booking experience. Nustay has set out an ambitious vision to become the global leader within the online hotel booking industry, and is confident its large hotel room inventory, novel pricing strategy, and transparent booking process, will achieve that goal.