Fellow Bank Plc acquires the entire share capital of Mobify Invoices Oy, pays the purchase price partially with shares

FELLOW BANK PLC STOCK EXCHANGE RELEASE 4.7.2022 AT 3:00 PM EEST

Fellow Bank Plc ("Fellow Bank") has today, on 4 July 2022, agreed to acquire the entire share capital of Mobify Invoices Oy ("Mobify") from Mobify's current shareholders.

Mobify is a Finnish company that offers an easy-to-use mobile application for comprehensive financial management. With the help of the Mobify application, consumers can easily manage and monitor their own finances and centralize, among other things, the payment of bills on one mobile platform. More than 42,000 consumers have registered on the platform, and invoices worth of around two million euros are paid through it every month. The functionalities of the Mobify application will be gradually integrated into Fellow Bank's digital service offering. Mobify's entire personnel will transfer to the Fellow Bank group, which will further accelerate the development of Fellow Bank's digital services.

Teemu Nyholm, CEO of Fellow Bank Plc: "The functionalities of the Mobify application and the staff's expertise in developing mobile services give Fellow Bank even better capabilities to build a customer-oriented, digital bank in accordance with our vision. We have worked closely together even before this merger, and I know that our operating methods and corporate culture fit well together."

“The entire Mobify team is excited that we will be able to continue developing digital services as part of Fellow Bank. Both parties have valuable, complementary expertise, and together we can create new, innovative digital banking services for Finns in an agile way," says Niklas Elomaa, CEO of Mobify Invoices Oy.

The purchase price for Mobify's shares is paid partly in cash and partly in new shares of Fellow Bank. Fellow Bank's board of directors has today, on 4 July 2022, resolved on a share issue directed to the sellers based on the authorization given to the board of directors by the general meeting on 9 March 2022. Fellow Bank will issue a total of 1,175,088 new shares as a partial payment of the purchase price. The number of new shares corresponds to approximately 1.33 percent of all shares in Fellow Bank after the registration of the new shares. After the registration of the new shares, the number of all shares in the company will be 88,332,182. The subscription price per share is EUR 0.4255, corresponding to the closing price of Fellow Bank's share on 1 July 2022. The subscription price will be recorded in the reserve for invested unrestricted equity. The new shares (ISIN code FI4000170915) will be registered in the trade register maintained by the Finnish Patent and Registration Office on or about 6 July 2022. Trading in the new shares is expected to commence on the official list of Nasdaq Helsinki Oy on or about 7 July 2022.

Further information:

Teemu Nyholm, CEO, Fellow Bank Plc, teemu.nyholm@fellowpankki.fi, tel. +358 50 577 1028

Fellow Bank in brief

Fellow Bank Plc is a new Finnish digital bank that helps both personal and business customers to manage their day-to-day finances in a flexible and straightforward manner. For savers, we offer an attractive interest rate on deposits. Fellow Bank Plc is regulated by the Financial Supervisory Authority of Finland and listed on Nasdaq Helsinki’s main list (FELLOW). www.fellowbank.com