Market announcement

Title

Resolutions about changes in the management of EveryPay

Message

The General Meeting of Shareholders of AS LHV Group (LHC Group), held on 30
March approved the contract to purchase EveryPay AS. LHV Group disclosed the
entering into the agreement to acquire the company in the market announcement on
4 March
(https://view.news.eu.nasdaq.com/view?id=b0cda6d32c087a2f2b6f56b7fdb077660&lang=
en).

As of 4 April, LHV Group became the sole shareholder of EveryPay AS and inter
alia resolved to change the membership of the Supervisory Board. As of 4 April,
all previous Members of the Supervisory Board were recalled and Madis Toomsalu,
Erki Kilu, Kadri Kiisel and Andres Kitter were appointed new Members of the
EveryPay AS's Supervisory Board for a term of five years. The newly appointed
Supervisory Board then designated Madis Toomsalu as the Chairman of the
Supervisory Board and recalled Lauri Teder from the position of Member of the
Management Board, reappointing him again for a term of three years.

Madis Toomsalu is a Member of the Management Board of LHV Group, the Chairman of
the Supervisory Boards of AS LHV Pank, AS LHV Kindlustus and AS LHV Varahaldus,
a Member of the Supervisory Board of AS LHV Finance, the Chairman of the Board
of Directors of LHV UK Ltd and a Member of the Board of Directors of Bank North.
He is also Member of the Management Board of MTÜ FinanceEstonia. He has worked
at LHV since 2007, operated as the credit manager of LHV Pank since 2012, and
worked as the CEO of LHV Group since 2016. Madis Toomsalu has obtained a
Bachelor's degree in Business Management from the Tallinn University of
Technology (TalTech) and a master's degree in public sector finance. Madis
Toomsalu and a person related to him own 67,195 shares of LHV Group. For the
options issued for 2018, 2019, 2020 and 2021, Madis Toomsalu has the right to
acquire a total of 119,336 shares of LHV Group.

Erki Kilu belongs to the Board of Directors and is the CEO of LHV UK Ltd. In
addition, he is a Member of the Supervisory Boards of AS LHV Varahaldus and AS
LHV Kindlustus. Erki Kilu has been employed at LHV since 2008. He holds a
Master's degree in business administration from the University of Tartu and a
Master of Science's degree in Engineering from the Institute of Computer Science
of the University of Tartu. Erki Kilu holds 99,287 shares of LHV Group. He has
the opportunity to acquire a total of 115,630 shares of LHV Group for the
options issued for the years 2018, 2019, 2020 and 2021.

Kadri Kiisel is the Chairman of the Management Board of AS LHV Pank since 2021
and a Member of the Supervisory Board of AS LHV Finance. She managed retail
banking of AS LHV Pank since 2018 as a Member of the Management Board and has
also been the CEO of AS LHV Finance. From 2011, Kiisel worked as the manager of
the AS LHV Pank's Tallinn branch and since 2017 she was the Head of Branches of
AS LHV Pank. She also belongs to the Management Board of the Estonian Banking
Association. Kadri Kiisel has a Master's degree in Financial Management from the
University of Tartu. She holds 5,031 shares of AS LHV Group and has the right to
acquire a total of 71,265 shares of AS LHV Group for the options issued for the
years 2018, 2019,2020 and 2021.

Andres Kitter has been a Member of the Management Board of AS LHV Pank since
2013, managing the business line of financial intermediaries and he also belongs
to the Board of Directors of LHV UK Ltd. He holds a Master's degree from the
Faculty of Economics and Business Administration of the University of Tartu.
Andres Kitter holds 34,818 shares of LHV Group and has the right to acquire a
total of 67,988 shares of LHV Group for the options issued for the years
2018, 2019,2020 and 2021.

Lauri Teder is one of the founders of EveryPay AS and the first employee since
2013, whose task was initially to create a technical platform and then build the
entire service. Under the leadership of Lauri Teder, EveryPay AS has become the
largest digital payments platform in the Baltics, which is used by AS LHV Pank
since 2015, as well as other largest banks in the Baltics. Lauri Teder obtained
a Bachelor's degree from the Faculty of Economics of the University of Tartu.
Before joining EveryPay AS, Lauri Teder worked for over 7 years in the field of
software development, managing various software development projects. Lauri
Teder holds 367 shares of LHV Group.

LHV Group is the largest domestic financial group and capital provider in
Estonia. LHV Group's key subsidiaries are LHV Pank, LHV Varahaldus, and LHV
Kindlustus. LHV employs over 690 people. As at February, LHV's banking services
are being used by 332,000 clients, the pension funds managed by LHV have
135,000 active clients, and LHV Kindlustus protects a total of 145,000 clients.
LHV's UK branch offers banking infrastructure to 200 international financial
services companies, via which LHV's payment services reach clients around the
world.

Priit Rum
Communication Manager
Phone: +372 502 0786
Email: [email protected]
(https://www.globenewswire.com/Tracker?data=nc_CMfIszt_JkYUMps9US4E1gOzm5pOWHBo9
EtURFBO35FFUQrDFRH7zzlj5KW11u3j3wsYm7n04SNPTCfssIA==)