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Outcome of Subscription to LHV Group Subordinated Bonds

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The public offer of subordinated bonds of AS LHV Group (LHV Group) closed on
Tuesday, 12 November 2024. Altogether 2,293 unique investors participated in the
offering, subscribing bonds for a total amount of EUR 49.64 million. Thus, the
issue volume of EUR 20 million was oversubscribed 2.5 times.

The subscription period for the bonds started on 29 October 2024 at 10:00 and
ended on 12 November 2024 at 16:00.

In accordance with the prospectus of LHV Group subordinated bonds registered by
the Estonian Financial Supervision and Resolution Authority on 28 October 2024,
the Supervisory Board of LHV Group decided on the subscription outcome of the
issue, the volume of the issue, and the allocation of the bonds to be offered
according to the following principles:

   i. all subscription orders of the same subscriber were summed up;
  ii. all subscription orders of LHV Group's previous non-professional investors
      and customers up to the EUR 5,000 were fulfilled, as were all subscription
      orders of other non-professional investors up to EUR 2,000;
 iii. LHV's previous non-professional investors were allocated 33.50%% of their
      subscribed amount exceeding the EUR 5,000 threshold;
  iv. LHV's previous non-professional customers were allocated 27.50%% of their
      subscribed amount exceeding the EUR 5,000 threshold;
   v. The new non-professional investors were allocated 20%% of their subscribed
      amount exceeding the EUR 2,000 threshold;
  vi. Institutional (professional) investors were allocated 20% of the amount
      they subscribed for;
 vii. the number of bonds with decimal places was rounded to the previous whole
      number.

"We are grateful to the investors for their support for LHV's success both in
Estonia and internationally. We will use the raised capital as part of our own
funds, which allows us to continue to rapidly increase our loan portfolio and
other business volumes. At the same time, we were able to offer an investment
opportunity with an attractive return in an environment of falling interest
rates," said Madis Toomsalu, Chairman of the Management Board of LHV Group.

As a result of the emission LHV Group issues 20,000 subordinated bonds with a
nominal value of EUR 1,000, annual interest rate of 6.0%, and redemption date of
15 November 2034. The subordinated bonds will be transferred to the investors'
securities accounts on or about 15 November 2024 and will be listed on the
Baltic Bonds List of Nasdaq Tallinn Stock Exchange on or about 18 November
2024. This is the second issue of subordinated bonds under the bond programme
confirmed in 2023. Under the bond programme EUR 35 million worth of subordinated
bonds have previously been issued and altogether it is possible to raise up to
EUR 200 million.

LHV Group is the largest domestic financial group and capital provider in
Estonia. The LHV Group's key subsidiaries are LHV Pank, LHV Varahaldus, LHV
Kindlustus, and LHV Bank Limited. The Group employs over 1,200 people. As at the
end of October, LHV's banking services are being used by 448,000 clients, the
pension funds managed by LHV have 116,000 active clients, and LHV Kindlustus
protects a total of 169,000 clients. LHV Bank Limited, a subsidiary of the
Group, holds a banking licence in the United Kingdom and provides banking
services to international financial technology companies, as well as loans to
small and medium-sized enterprises.


Priit Rum
Communications Manager
Phone: +372 502 0786
Email: [email protected] (mailto:[email protected])