Dovalue

Capital/Financing Update • Oct 29, 2025

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Data/Ora Ricezione : 29 Ottobre 2025 20:35:10

Oggetto : Pricing di un prestito obbligazionario senior

garantito con scadenza nel novembre 2031 per

un importo in linea capitale di €350 milioni

Testo del comunicato

Vedi allegato

COMUNICATO STAMPA

DOVALUE: PRICING DI UN PRESTITO OBBLIGAZIONARIO SENIOR GARANTITO CON SCADENZA NEL NOVEMBRE 2031 PER UN IMPORTO IN LINEA CAPITALE DI EURO 350 MILIONI

Roma, 29 ottobre 2025 - doValue S.p.A. ("doValue" o la "Società") con la presente annuncia che in data odierna, al completamento dell'attività di bookbuilding, ha effettuato il pricing del prestito obbligazionario senior garantito con scadenza 2031 per un importo complessivo in linea capitale pari a €350 milioni ad un tasso pari al 5,375% annuo con un prezzo di emissione pari al 100% (le "Obbligazioni").

I proventi dell'offerta delle Obbligazioni (l'"Offerta"), assieme alla liquidità disponibile della Società, saranno utilizzati per acquisire (l'"Acquisizione") l'intero capitale sociale di coeo Group GmbH ("coeo") e per pagare le commissioni e le spese sostenute in relazione all'Offerta e all'Acquisizione. Il perfezionamento dell'Acquisizione è previsto entro gennaio 2026 e, in ogni caso, entro aprile 2026, subordinatamente all'avveramento delle relative condizioni sospensive. In attesa del perfezionamento dell'Acquisizione, i proventi derivanti dall'Offerta saranno depositati in un conto escrow.

L'emissione è stata incrementata rispetto all'importo iniziale di €300 milioni a seguito della forte domanda da parte degli investitori (oltre 3 volte l'importo inizialmente offerto), a conferma della consolidata capacità della Società di accedere al mercato dei capitali. Il rendimento cedolare delle Obbligazioni è inferiore di 162,5 punti base rispetto a quello delle obbligazioni senior secured emesse dalla Società nel febbraio 2025, mentre la durata è superiore di un anno, riflettendo il miglioramento delle condizioni di mercato e la fiducia degli investitori nel rafforzato profilo operativo derivante dalla prospettata acquisizione di coeo.

Basata in Germania, coeo è il più grande operatore appartenente alla nuova generazione di società di gestione dei crediti digitali guidate dall'intelligenza artificiale. Sfruttando l'IA, l'analisi dei comportamenti dei consumatori e l'eccellenza operativa, coeo è rapidamente emersa come leader nel settore della gestione digitale dei crediti, servendo principalmente clienti blue chip in settori quali e-commerce, Buy Now Pay Later (BNPL), pagamenti, telecomunicazioni, gestione dei parcheggi e dell'energia in otto Paesi – inclusa la regione DACH e l'Europa nord-occidentale – e posizionandosi in modo ottimale per un'ulteriore espansione a livello europeo. coeo svolgerà un ruolo fondamentale nell'accelerare la strategia di diversificazione in corso di doValue verso nuovi segmenti di business, clienti e aree geografiche caratterizzate da solide prospettive di crescita di lungo periodo. A seguito dell'annuncio dell'acquisizione, il rating della Società è stato confermato a BB con outlook stabile da parte di S&P e Fitch Ratings, che hanno altresì assegnato un rating BB alle Obbligazioni.

L'emissione e il regolamento delle Obbligazioni sono previsti per il 12 novembre 2025. Alla data di emissione, si prevede che le Obbligazioni siano quotate sul Listino Ufficiale della Borsa del Lussemburgo e ammesse al sistema multilaterale di negoziazione Euro MTF Market.

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Il Gruppo doValue è un provider europeo di servizi finanziari che offre prodotti innovativi lungo l'intero ciclo di vita del credito, dall'origination al recupero e all'alternative asset management. Con più di 25 anni di esperienza e circa €140 miliardi di asset lordi in gestione (Gross Book Value) al 30 giugno 2025, è presente in Italia, Spagna, Grecia e Cipro. Il Gruppo doValue contribuisce alla crescita economica favorendo uno sviluppo sostenibile del sistema finanziario ed offre una gamma integrata di servizi per la gestione del credito: servicing di Non Performing Loans (NPL), Unlikely To Pay (UTP), Early Arrears, Performing Loans, Master Legal, Due Diligence, elaborazione di dati finanziari, attività di Master Servicing e asset management specializzato in soluzioni di investimento, dedicato a investitori istituzionali e focalizzato sul segmento dei crediti deteriorati e illiquidi. Le azioni di doValue sono quotate all'Euronext STAR Milan (EXM) e fanno parte del FTSE Italia Mid Cap Index. Nel 2024, il Gruppo ha registrato Ricavi Lordi pari ad €479 milioni, EBITDA esclusi gli elementi non ricorrenti pari ad €165 milioni, e conta 3.133 dipendenti.

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Il presente comunicato stampa contiene informazioni privilegiate relative a doValue S.p.A. ai sensi del Regolamento (UE) n. 596/2014 e del Regolamento di Esecuzione (UE) n. 2016/1055 della Commissione.

Contatti

doValue doValue

Media Relations Investor Relations Daniele Biolcati (+39 337 168924) Daniele Della Seta daniele.biolcati@dovalue.it investorrelations@dovalue.it

Image Building

Media Relations Raffaella Casula (+39 02 89011300) Francesca Alberio dovalue@imagebuilding.it

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The Notes and the guarantees thereof have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or applicable state securities laws. Accordingly, the Notes will be offered only to qualified institutional buyers and to persons outside the United States in reliance on Rule 144A and Regulation S under the Securities Act, respectively. Unless so registered, the Notes may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other security and shall not constitute an offer, solicitation or sale in the United States or in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction.

This announcement is not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia), Canada, Australia, Japan or any jurisdiction where to do so would constitute a violation of the relevant securities laws of such jurisdiction. These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States.

The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area ("EEA"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); (ii) a customer within the meaning of Directive 2016/97/EU (as amended or superseded), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a "qualified investor" as defined in Regulation (EU) 2017/1129 (as amended, the "Prospectus Regulation"). Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for offering, selling or distributing the Notes or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPS Regulation.

In member states of the EEA, this announcement and any offer of the Notes referred to herein in any Member State of the EEA will be made pursuant to an exemption under the Prospectus Regulation from the requirement to publish a prospectus for offers of the Notes referred to herein. Accordingly, any person making or intending to make an offer in a Member State of Notes which are the subject of the offering contemplated may only do so in circumstances in which no obligation arises for the Company or any of the initial purchasers to publish a prospectus pursuant to Article 3 of the Prospectus Regulation, in each case, in relation to such offer. Neither the Company nor the initial purchasers have authorized, nor do they authorize, the making of any offer of Notes in circumstances in which an obligation arises for the Company or the initial purchasers to publish a prospectus for such offer.

The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom ("UK"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("EUWA"); (ii) a customer within the meaning of the provisions of the FSMA and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) not a "qualified investor" as defined in Article 2 of the Prospectus Regulation as it forms part of UK domestic law by virtue of the EUWA (the "UK Prospectus Regulation"). Consequently no key information document required by Regulation (EU) No 1286/2014 as it forms part of domestic law by virtue of the EUWA (the "UK PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.

In the UK, this announcement and any offer of the Notes referred to herein in the UK will be made pursuant to an exemption under the UK Prospectus Regulation from the requirement to publish a prospectus for offers of the Notes referred to herein. Accordingly, any person making or intending to make an offer in the UK of Notes which are the subject of the offering contemplated may only do so in circumstances in which no obligation arises for the Company

or any of the initial purchasers to publish a prospectus pursuant to Article 3 of the UK Prospectus Regulation, in each case, in relation to such offer. Neither the Company nor the initial purchasers have authorized, nor do they authorize, the making of any offer of Notes in circumstances in which an obligation arises for the Company or the initial purchasers to publish a prospectus for such offer.

This communication is being distributed only to, and is directed at persons who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Financial Promotion Order") (ii) are persons falling within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Promotion Order, (iii) are outside the United Kingdom or (iv) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000 in connection with the issue and sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "relevant persons"). This announcement is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.

In connection with the Offering, an initial purchaser of the Notes (or affiliates acting on behalf of such initial purchaser), in the capacity of a stabilizing manager (the "Stabilizing Manager") may over-allot Notes or effect transactions with a view to supporting the market price of the Notes at a level higher than that which might otherwise prevail. However, there is no assurance that the Stabilizing Manager will undertake stabilizing action.

The Stabilizing Manager may engage in over-allotment, stabilizing transactions, covering transactions and penalty bids in accordance with Regulation M under the U.S. Securities Exchange Act of 1934. Over-allotment involves sales in excess of the Offering size, which creates a short position for such initial purchaser of the Notes. Stabilizing transactions permit bidders to purchase the underlying security so long as the stabilizing bids do not exceed a specified maximum. Covering transactions involve purchases of the Notes in the open market after the distribution has been completed in order to cover short positions. Penalty bids permit the Stabilizing Manager to reclaim a selling concession from a broker or dealer when the Notes originally sold by that broker or dealer are purchased in a stabilizing or covering transaction to cover short positions. These activities may stabilize or maintain the respective market price of the Notes above market levels that may otherwise prevail. The Stabilizing Manager is not required to engage in these activities, and may end these activities at any time. Accordingly, no assurance can be given as to the liquidity of, or trading markets for, the Notes.

These stabilizing transactions, covering transactions and penalty bids may cause the price of the Notes to be higher than it would otherwise be in the absence of these transactions. These transactions may begin on or after the date on which adequate public disclosure of the terms of the Offering is made and, if commenced, may be discontinued at any time at the sole discretion of the Stabilizing Manager. If these activities are commenced, they must end no later than the earlier of 30 days after the date of issuance of the Notes and 60 days after the date of the allotment of the Notes. These transactions may be effected in the over-the-counter market or otherwise.

This announcement may include projections and other "forward-looking" statements within the meaning of applicable securities laws. Any such projections or statements reflect the current views of the Company about future events and financial performance. The use of any of the words "expect," "anticipate," "continue," "will," "project," "should," "believe," "plans," "intends" and similar expressions are intended to identify forward-looking information or statements. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that such statements and information will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties.

The forward-looking statements and information contained in this announcement are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The Notes will not be listed on an Italian regulated market, therefore no documents or materials relating to the Notes have been or will be submitted to the clearance procedure of the competent authority.