Nasdaq Welcomes Eleving Group to the Nasdaq Baltic Bond List

Tallinn/Riga/Vilnius, Nasdaq Baltic Market, November 6, 2023 - Nasdaq (NDAQ)
announces that bonds issued by Eleving Group were listed on the Nasdaq Baltic
Bond List by Nasdaq Riga as of today. 

In the public offering, Eleving Group issued EUR 50 mln senior secured and
guaranteed bonds. Approximately 2,000 retail and institutional investors from
the Baltic States and Germany exchanged or subscribed to Eleving Group's new
bonds. 

The nominal value of one bond is 100 EUR with a fixed annual coupon rate of
13%, and with quarterly payments. The maturity date is October 31, 2028. 

"Eleving Group is a long-term participant of the Latvian capital market and has
been able to successfully use the advantages of both First North and the Nasdaq
regulated market, gaining experience in the Baltic region and beyond. Such
stable companies, endowed with tireless ambition, are very welcome to the stock
exchange," said Liene Dubava, CEO of the Nasdaq Riga stock exchange. 

"The result achieved this time around can be considered as a success.
Volume-wise, this already is one of the largest corporate public bond offerings
carried out in the Baltics in recent years. Additionally, we see this issue as
a great success for further diversification of our funding structure, given
that we have onboarded close to 2,000 new investors from numerous geographies
without dependence on one or a few institutional investors. Also, the new bonds
will improve our debt maturity profile, given that they have a maturity date
four years later than Mogo AS 2021/2024 bonds. We have reached the point where
the next big maturity is three years away, which gives us considerable time to
prepare for it," stated Modestas Sudnius, CEO of Eleving Group. 

Eleving Group, founded in 2012 under the name Mogo Finance, currently operates
in 16 global markets and on three continents, offering financial services in
the mobility and consumer segments. The Group includes the mobility brands
Mogo, Primero, Renti, and OX Drive, and the vehicle finance segment accounts
for 70% of its operations. In contrast, the consumer finance segment, with
Kredo, Sebo, Tigo, and the recently integrated ExpressCredit business, accounts
for around 30% of the portfolio. The Group's historical customer base exceeds
500,000 customers worldwide, while the total volume of loans issued is
approximately EUR 1.5 billion. The Group's main mission is to serve groups of
society that are not customers of traditional banks and to promote an inclusive
economy through innovative, easy-to-use, and understandable financial products.
The Group ended the first six months of 2023 with solid results across all key
business metrics, achieving EBITDA of EUR 36.1 mln and reporting EUR 90.6 mln
in revenue and EUR 13.6 mln in net profit before FX. The Group's net portfolio
remained stable (EUR 295.1 mln) compared to the previous reporting period for
the first three months of 2023. In the second quarter of this year, the
international credit rating agency Fitch affirmed Eleving Group's B- rating
with a stable outlook. 

Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq
Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more:
nasdaqbaltic.com 

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