HiPay Group

Earnings Release • Feb 27, 2020

Transaction Volume: €3.9 billion + 37% Financial support from BJ Invest

In millions of euros 2019¹ 2018 Var. (%) H2 Transaction Volume 2 132 1 519 +40% Revenue 18.2 15.8 +15% Year Transaction Volume 3 893 2 844 +37%

Revenue 34.9 28.8 +21%

Paris, February 24, 2020: HiPay (ISIN code FR0012821916 - HIPAY), the fintech specialized in Omnichannel payment solutions, announces a 37% transaction volume growth managed by its platform (+ 30% vs. 2018) and revenue increase of + 21% (+ 17% vs. in 2018).

The company continues its growth, but the last fiscal year nevertheless confirms a financial fragility for the current year. Therefore, to offset this difficulty and to finance HiPay's growth, BJ Invest reiterates its support and its confidence by providing a new cash injection of €5 million.

Commenting on the 2019 results, Grégoire Bourdin, CEO of HiPay, said: The growth in processed volume in the second half of the year reached 40%, 7 points above H1. The semester revenue amounted to more than €18 million for more than €2.1 billion of processed volume. Thanks to the investment of HiPay's teams and the support of its core shareholder, the company continues its dynamic development. "

Successful business strategy

● 35% growth in the number of key accounts (+156 in 2019).

¹ Ongoing financial information audit

● Confirmation of premium positioning in the "Retail / Fashion" vertical (Father and Sons, Bonne Gueule, Noukies, Balibaris, etc.).

• Successful penetration of new market segments: franchise (Pizza hut, Speed-Burger, etc.) and tourism (Club med, Ponant Croisière, Thalasso N ° 1, etc.).
• International development: +25% revenue in markets outside France.
• Existing portfolio growth: the transaction volumes processed for HiPay's merchants for a full year increased by 21% over the year.

Offer Enrichment

• The omni-channel offer is developing thanks to the signature of complementary strategic partnerships (maintenance of payment terminals and telephone and remote card payment systems).
• The Marketplace offer is being strengthened through integration with new sales management system.
• New indicators are being harmonized between the different sales channels, whether online or local, enriching the HiPay Business Intelligence module.

Cash flow difficulties / Support from BJ Invest

• At the time of publication of the 2018 annual and 2019 half-yearly financial statements, the continuation of the activity was ensured by the 5 million euro cash line subscribed by HiPay Group with BJ Invest, the reference shareholder, holding company of Mr. Benjamin Jayet, Chairman of the Board of Directors of the Company.
• The revision of the cash flow forecasts for the year 2020, conducted during the fiscal year end of 2019 highlighted that the current account of €5 million would not be sufficient to enable the company to finance its operations beyond the first half of 2020.
• This situation is the result from the losses generated since the listing of the company's shares on the Euronext Paris market (€4.5 million for each of the 2016 and 2017 financial years, €8.5 million for 2018, and €2.6 million for the first half of 2019), which are explained by the significant technological investments made by HiPay.
• As of December 31, 2019, the cash balance amounted to €1.6 million² . With the available balance in the associated current account of BJ Invest, the available cash amounts to €2.5 million².

² Ongoing financial information audit

● The latest cash flow forecast shows an additional financing requirement of €3 million.

● In order to meet this financing need, BJ Invest, the core shareholder of HiPay Group, will make a new contribution to the current account to a maximum amount of €5 million.

Next financial communication: March 12, 2020 - Results and financial statements for the year 2019

A propos de HiPay

HiPay is a global payment provider. We believe that payment goes beyond the processing of transactions. Thanks to a unique and flexible platform, we allow our merchants to get more value from their payment data, whatever the sales channel.

More information on hipay.com Find us on Twitter et LinkedIn HiPay Group is listed on the Euronext Paris Compartment C (ISIN code: FR0012821916 - Mnemo: HIPAY).

Press Contact

Emmanuel Chaumeau

press@hipay.com

This press release does not constitute an offer to sell or a solicitation of an offer to buy HiPay Group shares. If you wish to obtain more information about HiPay Group, please refer to our website hipay.com, under the Investors heading. This press release may contain some forward-looking statements. Although HiPay Group considers that these statements are based on reasonable statements on the publication date of this release, they are by their very nature subject to risks and uncertainties that could cause the actual results to differ from those indicated or projected in these statements. HiPay Group operates in a continually changing environment and new risks could potentially emerge. HiPay Group assumes no obligation to update these forward-looking statements, whether to reflect new information, future events or other circumstances