Company Overview - Multitude Capital Oyj acts as the funding vehicle for Multitude Group, issuing bonds to support liquidity for the Group's operations [3] - Multitude AG is a listed European FinTech company providing digital lending and online banking services to consumers, SMEs, and institutional clients, operating through three independent business units: Consumer Banking (Ferratum), SME Banking (CapitalBox), and Wholesale Banking (Multitude Bank) [4] - The Group employs over 700 people and offers services in 17 European countries [4] Financial Highlights - In 2025, Multitude Group achieved a revenue of EUR 257 million [4] - As of 20 March 2026, the Company and the Parent held Capital Notes in an aggregated nominal amount of EUR 27,678,000 [1] - Following a recent repurchase, the total nominal amount of Capital Notes held by the Company and the Parent increased to EUR 32,428,000, with EUR 27,428,000 held by the Company and EUR 5,000,000 held by the Parent [2]

Core Insights - Multitude Capital Oyj successfully placed EUR 70 million in subordinated perpetual capital notes, qualifying as IFRS equity, under a framework of EUR 120 million [1] - The issuance attracted strong demand from both existing and new institutional investors across Continental Europe, the Nordics, and the UK [1] Financial Details - The Capital Notes carry a floating rate coupon of 3 month EURIBOR plus 8.90% and were priced at 96.00% of the nominal amount [2] - The net proceeds will be used to finance the tender offer for Multitude's outstanding EUR 45 million perpetual capital notes and for general corporate purposes [2] Exchange Offer - Holders of the Existing Notes were offered to exchange their notes for Capital Notes, with approximately EUR 19.2 million participating in the Exchange Offer [3] - An additional opportunity for holders of the Existing Notes to tender their notes at a price of 102.00% was also announced [3] Management Commentary - The CFO of Multitude stated that the transaction reflects a disciplined capital markets strategy and aims to optimize the capital structure while supporting growth [4] Credit Ratings - Fitch Ratings affirmed Multitude AG's Long-Term Issuer Default Rating at 'B+' with a Stable outlook and upgraded the consolidated Group's standalone credit profile to 'BB-' from 'B+' [4] - The Capital Notes were assigned an expected long-term rating of 'B-'/'RR6', in line with Multitude AG's Existing Notes [5] Company Overview - Multitude AG is a listed European FinTech company providing digital lending and online banking services to consumers and SMEs, employing over 700 people in 25 countries [8] - The company achieved a combined turnover of EUR 274 million in 2024 and operates through three independent business units: Consumer Banking, SME Banking, and Wholesale Banking [8]