Eniro Group

Capital/Financing Update • Mar 23, 2020

Press release 2020-03-23

Eniro announces preliminary date for payment to convertible holders who accept offers within the framework of the recapitalisation

On March 16, the Board of Directors of Eniro AB decided to replace the previously communicated exchange offer to the convertible holders with a cash offer in which the convertible holders are offered redemption of the convertibles at a cash equivalent of 30 percent of the nominal amount. The offer is conditional on convertible holders representing at least 90 percent of outstanding convertible loan. The Board also resolved to once more request that the bondholders decide in a written procedure to exchange bonds for Series A preference shares at a price of SEK 1.60 per preference share, provided that the convertible holders representing at least 90 per cent of the outstanding convertible loan accepted cash redemption. As previously announced, Försäkringsbolaget PRI Pensionsgaranti, ömsesidigt, has confirmed that it is adhering to the principle agreement concluded on 27 February 2020.

Given that the required majority is achieved in the offer to holders of convertible bonds and holders of bonds, payment of cash compensation to the convertible holders who accepted the offer will take place on April 9, 2020.

If the Board does not receive the necessary support for the new terms, the Board will apply for company restructuring before the maturity date of the convertible loan.

Preliminary timetable

2020-03-27	Last day for acceptance from the convertible holders
2020-04-03	Last day for acceptance by the bondholders
2020-04-09	Preliminary date for payment to convertible holders who accepted the offer

For more information, please contact:

Arne Myhrman, Chairman of the board of directors, tel +46 73 383 64 67 Magdalena Bonde, Group President and CEO, tel +46 8 553 310 00, magdalena.bonde@eniro.com Anne Langbraaten, Group CFO, tel +46 8 553 310 00, anne.langbraaten@eniro.com

Eniro is a Nordic company that helps small and medium-sized companies with digital marketing. Eniro also has a search service that aggregates, filters and presents information to help individuals find and come into contact with each other and with companies. The Eniro Group has about 1,000 employees and operates in Sweden, Norway, Denmark and Finland through the local domains eniro.se, gulesider.no, krak.dk and degulesider.dk. Each week, Eniro Group's digital services have about 4,8 million unique visitors. Eniro is listed on Nasdaq Stockholm [ENRO] and its head office is located in Stockholm.

This translation is for convenience only.