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The reason for the qualified opinion is that the company had revalued upwards the value of intangible assets in both 2019 and 2020, which is not permitted under the Estonian accounting standards.

Creditstar - key figures:

Profit = € 2.1m

Assets = € 188.0m

Equity = € 38.3m

Debt = € 149.7m

Iute Credit - key figures:

Profit = € 4.4m

Assets = € 130.0m

Equity = € 23.7m

Debt = € 106.3m

The full reports can be viewed here: p2p.holdings/mintos/loan-originators

#iutecredit #Creditstar $Lendermarket

''We are writing to update you about the audited Annual Report for 2020 distribution. As you know, we are working with KPMG to complete the audited 2020 Annual Report. We are happy to say that we are nearly finished but still need additional time to bring the report to a close. A great deal of effort was made to distribute the report according to plan in August. However, the final assessment of the Danish FSA regarding the Consumer Credit Provider license and a comprehensive unplanned first round of questionnaires regarding the specialised bank license application from the Bank of Lithuania and the European Central Bank set us back with our timeline. Please bear with us, and we will distribute the report as soon as finished.''

$Lendermarket

Key figures:

Profit = € 2.6m

Assets = € 179.3m

Equity= € 36.2m

Debt = € 143.1m

Q2 highlights:

- Creditstar Group issues two new bonds with a record value of € 23.57 million, its largest ever bonds issue

Creditstar Group is pleased to announce that it successfully placed bonds in the total amount of € 23.57

million with maturities of 18 and 36 months. The proceeds of the offering will be used to redeem

maturing bonds and finance loan portfolio growth across multiple markets.

- Creditstar officially applies for the specialised bank license

Creditstar has officially filed a specialised bank license application to the Bank of Lithuania. Creditstar

will be allowed to provide almost all traditional banking services within the EU/EEA area with the

banking license.

$Lendermarket $Mintos

Update from #Creditstar:

We will issue bonds in the total amount of € 23.57 million with maturities of 18 and 36 months.

21.05 End of early subscription period – investors who subscribe to new bonds before 23:59 are eligible for an early subscription bonus.

27.05 End date of subscription – it is possible to subscribe to new bonds until 23:59 on this date.

28.05 Payment date – new investors and existing investors increasing their positions are to transfer their subscription amount to Creditstar. Payment details will be provided separately.

01.06 Issue date of new bond – bonds are automatically transferred to the securities accounts of eligible investors.

The two new secured bonds issued:

1. Creditstar 01.12.2022 secured notes (18 months), yield 12.5% - 15.1% p.a.

2. Creditstar 01.06.2024 secured notes (36 months), yield 13.5% - 16.1% p.a.

All legal documents related to the bond emission, Purchase Offer documents as well as the latest Company presentation is available here: drive.google.com/drive/folders/1D7a0l56PNCPdscyUq82BYAPDVrHSqRXe

Contact info: [email protected]

$Lendermarket

- Creditstar will be audited by KPMG: 2020 report will be ready in summer, in accordance with Estonian Financial Standards. Loan portfolio report with a statement from KPMG will also be published shortly.

- Comment about IFRS: "IFRS 9 is not very convenient for lenders because it requires an increased number of provisions to be reserved, which carries an increased amount of funding costs. On the other side, it is actually quite interesting for companies like us to adopt IFRS 9, because as soon as we adopt it we will open up ourselves for much cheaper sources of funding from institutional investors who actually require IFRS 9 to be able to give us money...which will be not to the benefit of P2P investors because if Creditstar will have much cheaper source of funding from institutional investors, there will be less need to put loans on the P2P platforms" - no clear answer if IFRS will be adopted.

- € 45 million outstanding P2P loans at Q1 2021

- Planned company's growth is 25-35% per annum

- Creditstar is getting a specialised bank license: the application has been submitted to the Bank of Lithuania and there is approximately one year left until they get the license.

$Lendermarket $Mintos

#Creditstar is hosting an Investor Webinar on Thursday, May 20th, to give an update on the company, the latest developments, response to COVID-19, and to provide an opportunity to meet and

hear from Creditstar’s management. The terms of the new June 1st bond issues will also be discussed:

Investors are offered subscription of two privately placed bonds:

1) Creditstar 01.12.2022 secured notes, with a fixed annual coupon rate of 12.5%.

Depending on the subscription amount of each investor, yield to maturity is up to 15% p.a.

2) Creditstar 01.06.2024 secured notes, with a fixed annual coupon rate of 13.5%.

Depending on the subscription amount of each investor, yield to maturity is up to 16% p.a.

AGENDA

From 11 am (GMT+2), the Management Team led by CEO Aaro Sosaar will give business updates and answer questions. Running time is expected to be 2 hours.

SUBMIT YOUR QUESTIONS

Submit your questions here bit.ly/33msmeO from now until end of Tuesday, May 18th.

REGISTRATION

Please RSVP by Tuesday, May 18th using the following link bit.ly/3y4wyye

For further information, please contact Kristin Cross: [email protected] or [email protected]

T: +372 698 8710

$Lendermarket