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Legal Proceedings Report • Feb 24, 2022

Informazione Regolamentata n. 1967-11-2022		Data/Ora Ricezione 24 Febbraio 2022 18:08:41	Euronext Milan
Societa'	:	DOVALUE
Identificativo Informazione Regolamentata	:	157749
Nome utilizzatore	:	DOVALUEN08 - Goretti
Tipologia	:	REGEM
Data/Ora Ricezione	:	24 Febbraio 2022 18:08:41
Data/Ora Inizio Diffusione presunta	:	24 Febbraio 2022 18:08:42
Oggetto	:	Update on Sareb
Testo del comunicato

Vedi allegato.

PRESS RELEASE

UPATE ON THE SAREB PROCESS

Rome, February 24th, 2022 – doValue S.p.A. ("doValue", or the "Company", or the "Group") communicates that Sareb (the company set up by the Spanish Government and the Spanish Banks in 2012 with the purpose of managing and divest distressed assets that were transferred to it from four nationalized Spanish financial institutions) has not awarded a new contract to doValue (the current contract expires in June 2022).

The event was already envisaged as a possibility by doValue, as described in the Business Plan 2022-2024 presented by the Group on January 26th, 2022. Considering the highly competitive nature of the process that Sareb has conducted in the last few months (which was focussed on the level of commissions payable by Sareb to the servicers), the new contract would have not contributed positively to the Group profitability, and therefore the decision by Sareb will not have a material impact on the Business Plan 2022-2024 financial targets and on the overall strategic direction of the Group.

Sareb is currently a relevant client of doValue in Spain, as such the decision by Sareb will trigger a reorganisation of doValue's operations in Spain aimed at operating at an adequate scale preserving the profitability of the business in Iberia. In addition, doValue's growth in Spain in 2023 and 2024, in particular in terms of EBITDA, will be led by a higher extraction of value from the current GBV (excluding Sareb), new servicing agreements and new revenue streams.

doValue reiterates its target for the Iberia region in terms of 2024 EBITDA (€35-40 million), as well as the broader financial targets at Group levels presented on January 26th, 2022.

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doValue is the leading operator in Southern Europe in credit management and real estate services for banks and investors. Present in Italy, Spain, Portugal, Greece and Cyprus, doValue has over 20 years of experience in the sector and manages assets for approximately €150 billion (Gross Book Value) with over 3,200 employees and an integrated offer of services: special servicing of NPLs, UTP, Early Arrears, and performing positions, real estate servicing, master servicing, data processing and other ancillary services for credit management. doValue is listed on Euronext Milano ("EXM") and recorded in 2021 gross revenues of approximately €572 million and an EBITDA excluding non-recurring items of approximately €201 million.

Contacts

Image Building doValue

Media Relations Investor Relations Raffaella Casula (+39 348 306 7877) Alberto Goretti Giusy Martina Fusco (+39 335 1849341) +39 02 83460127 dovalue@imagebuilding.it investorrelations@dovalue.it