RB: 10/2022
Date: March 8, 2022
Information concerning credit decisions of European Bank for Reconstruction and Development and Santander Bank Polska S.A.
Legal basis: Art. 17 item 1 of MAR – inside information

Text of the report:

The Management Board of Benefit Systems S.A. with its registered seat in Warsaw ('Company', 'Issuer') herbyannounces that on March 8, 2022 the Company received an information that credit committees of the European Bank for Reconstruction and Development ('EBRD') and Santander Bank Polska S.A. ('Santander') (jointly 'Consortium'; 'Banks') agreed to provide long-term financing to the Company in amount up to PLN 205 million ('Financing').

The Financing will be provided for investment expenditures related to organic growth; development of the MultiLife platform; acquisitions; eco-friendly investments, refinancing of the Company's existing indebtness in the form of bank loans in Poland; and general corporate purposes of the Issuer Capital Group.

Obtaining the Consortium credit committees' approvals is an intermediate stage of the process of obtaining the Financing and is not equivalent to its completion and the Banks' obligation to release the funds. The availability of the Financing will depend, among other things, on the conclusion of a loan agreement with the Banks, about which the Issuer will inform in a separate report, and on the fulfilment of conditions precedent.

At the same time, in addition to the Financing, as of the date of this report the Issuer indicates that it maintains with Santander inter alia: a credit line in the amount of PLN 50 million with the possibility to use it in the form of an overdraft up to the amount of PLN 45 million and a limit for bank guarantees up to the amount of PLN 10 million; a credit line in the amount of PLN 65 million for bank guarantees; and a loan with an outstanding principal amount of PLN 16 million.