Market announcement

Title

Results of the Offering of Coop Pank Unsecured Subordinated Bonds

Message

The   public  offering  of  Coop  Pank  AS  (hereinafter  Coop  Pank)  unsecured
subordinated bonds (hereinafter the Offering) ended on Thursday, 3 March.

In  the course of the Offering, up to 8,000 unsecured subordinated bonds of Coop
Pank  with the name of EUR 5 Coop  Pank bond 22-2032, with the nominal value EUR
1,000 each,  the maturity date  10 March 2032 and fixed  interest rate of 5% per
annum, payable quarterly, were offered. Under the terms of the Offering, in case
of  oversubscription, Coop  Pank had  the right  to increase  the volume  of the
Offering  by up to 2,000 additional bonds. The  Offering was only carried out in
Estonia and not in any other jurisdiction.

Altogether  553 investors participated in  the issue, subscribing  orders in the
total  amount of EUR 13.9 million. This means  that the initial issue volume was
oversubscribed  1.7 times. Coop Pank used its right to increase the issue volume
of  the Offering  by 2,000 additional  bonds, resulting  in the  increase of the
total amount of the Offering to EUR 10 million.

The  Management Board  of Coop  Pank decided  to allocate the subordinated bonds
based on the following principles:

 1. All subscription orders of the same subscriber were summed up.
 2. All subscriptions up to the threshold of EUR 5000 were fulfilled.
 3. Coop Pank's shareholders, existing bondholders and customers were allocated
    69,68% of the amount exceeding the EUR 5000 threshold.
 4. Investors who subscribed for more than 100 Offer Bonds were allocated
    69,68% of the amount exceeding the EUR 5000 threshold.
 5. The remaining investors were allocated 25% of the amount exceeding the EUR
    5000 threshold.
 6. The number of bonds with decimal places was rounded to the previous whole
    number.

"The 1.7-fold oversubscription of the bond offering at such a difficult time
confirms that customers and investors believe in Coop Pank's growth plan. The
bank's investor base is expanding year by year. Since the establishment of Coop
Pank in 2017, the strategic owner of the bank has been retail chain Coop. The
IPO in the autumn of 2019 and the two years that followed have added nearly
28,000 retail investors. Looking ahead, we consider it important that our
investor base be supplemented by institutional investors. Therefore, we prefer
institutions in addition to bank's today's customers, shareholders and
bondholders in the distribution of bonds. Based on this, we distributed two-
thirds of the total issue volume to investors who subscribed for 100 or more
bonds (worth 100,000 euros and more). With the success of the bond issue, we met
our goal to strengthen the bank 's capital base, which will allow us to continue
rapid growth," commented Margus Rink, Chairman of the Management Board of Coop
Pank.

The  Offering was the second series under the  Coop Pank bond program created in
2021 and  was  conducted  based  on  the  Base  Prospectus of subordinated bonds
program  registered by the Estonian  Financial Supervision Authority on 15 March
2021 as  supplemented by the Supplement No 1 registered on 21 February 2022. The
bonds  with the  ISIN code  EE3300002542 are  expected to  be transferred to the
investors' securities accounts on or about 10 March 2022 and admitted to trading
on  the Baltic Bond List  of Nasdaq Tallinn Stock  Exchange on or about 14 March
2022.

Additional information:
Paavo Truu
CFO
Tel: +372 516 0231
e-mail: [email protected]
(https://www.globenewswire.com/Tracker?data=ZxOtHtzXapzM1BtJsOstCkK6YfI4sYvuwAKI
_RAWpidXMTDwD6kluzhTbDB06UfF9kt_Ztz4P54jvFe1HNcLhkqZURrMIu55dUJQ-GffamY=)
www.cooppank.ee
(https://www.globenewswire.com/Tracker?data=VCy9IapC1CAyi9ZXlWF7VNJwlF0zqe5dfDB_
7xzGAWtadIvreSkaXYzmegjV8OhyFHpQBYnvebownZ9WRsjmew==)

Coop  Pank,  based  on  Estonian  capital,  is  one  of the five universal banks
operating  in Estonia.  The number  of clients  using Coop  Pank for their daily
banking  reached 117,600. Coop  Pank aims  to put  the synergy  generated by the
interaction  of retail business  and banking to  good use and  to bring everyday
banking services closer to people's homes. The strategic shareholder of the bank
is the domestic retail chain Coop Eesti, comprising of 330 stores.

Important information

This  notice  is  an  advertisement  for  securities  within  the meaning of the
Regulation No 2017/1129/EU of 14 June 2017 of the European Parliament and of the
Council   European   Parliament  and  does  not  constitute  an  offer  to  sell
subordinated  bonds  or  invitation to  subscribe  to  subordinated  bonds. Each
investor  should make any decision  to invest in the  bonds only on the basis of
the  information contained in the prospectus,  its supplement and the summary of
the  prospectus and  if necessary,  consult with  an expert.  The approval  of a
prospectus  or  its  supplement  by  the  Financial Supervision Authority is not
considered to be a recommendation for subordinated bonds.

The  information  contained  in  this  notice  is  not intended to be published,
distributed  or transmitted, in whole or in part, directly or indirectly, in the
United  States, Canada,  Hong Kong,  Japan, Singapore,  South Africa,  or in any
other  country or circumstance where  publication, sharing or transmission would
be  unlawful. Subordinated  bond were  publicly offered  only in the Republic of
Estonia  and  the  sale  or  offer  of  the  bonds  shall  not take place in any
jurisdiction  where such offer, invitation or sale would be unlawful without the
exception or qualification of law.