Fellow Finance co-operation negotiations has completed

FELLOW FINANCE PLC COMPANY ANNOUNCEMENT 8.7.2020 AT 1:00 PM

Fellow Finance has completed the co-operation negotiations started on 1 July 2020. The result of the co-operation procedure is that Fellow Finance will lay off 9 people on a part-time or full-time. The layoffs are valid until further notice. The co-operation negotiations concerned the entire personnel in Finland, excluding the Finnish receivable management functions.

Further enquiries:

Teemu Nyholm, Interim-CEO, Fellow Finance Plc, teemu.nyholm@fellowfinance.fi, +358 50 577 1028

Certified advisor, Evli Bank Plc, tel. +358 40 579 6210

Fellow Finance Plc started its operations in 2014. The company is an expansive global FinTech group that provides crowdfunding services. A key role in the company’s business services is played by the leading Nordic¹ loan-based crowdfunding and peer-to-peer platform maintained by the company which has already been used by more than 850 000 customers in approximately 70 countries. Fellow Finance Plc is an Authorized Payment Institution supervised by the Finnish Financial Supervisory Authority of Finland and the shares of Fellow Finance Plc are listed on the Nasdaq First North Growth Market Finland marketplace. The company has approximately 2 500 shareholders.

¹Measured by the amount of financing facilitated. Source: Brismo Market Data (data accessed on 8 July 2020).

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