14 de septiembre de 2020

Allegro.eu: Announcement of Intention to Float on the Warsaw Stock Exchange (1)

POZNAN, Poland, Sept. 14, 2020 /PRNewswire/ --

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

This announcement is an advertisement and not a prospectus for the purposes of Regulation (EU) 2017/1129 (the "Prospectus Regulation") and does not an offer of securities for sale or subscription in any jurisdiction, including in or into the United States, Australia, Canada, Japan or South Africa.

Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Any offer to acquire shares pursuant to the proposed offering (the "Offering") will be made, and any investor should make their investment decision solely on the basis of the information that is contained in the prospectus (the "Prospectus") expected to be published by Allegro.eu, a public limited liability company (société anonyme) formed and existing under the laws of the Grand Duchy of Luxembourg, having its registered office at 4, rue Albert Borschette, L-1246 Luxembourg, Grand Duchy of Luxembourg and registered with the R.C.S. Luxembourg under number B 214830 (the "Company", or the "Issuer") in due course in connection with the admission of its ordinary shares ("Shares") to trading on the Warsaw Stock Exchange ("Admission"). A copy of the Prospectus will, following publication, be available from the Company's website at www.allegro.eu/ipo, subject to applicable securities regulations.

Risk is inherent in each investment decision. Investing in Shares is connected with a number of risks including, but not limited to, the financial risk resulting from a decline in the price of Shares or the limitation of their liquidity. With all investment decisions it is necessary to define future profit and assess the risk connected with it. Investing in shares implies the risk of losing part or all the invested funds, and even the necessity of incurring additional costs.

Nieodlaczna czescia kazdej inwestycji jest ryzyko. Inwestowanie w Akcje wiaze sie z szeregiem ryzyk, w tym z ryzykiem finansowym zwiazanym miedzy innymi ze spadkiem kursu Akcji lub ograniczeniem ich plynnosci. Podjecie kazdej decyzji inwestycyjnej wiaze sie miedzy innymi z koniecznoscia okreslenia przyszlego dochodu oraz oceny ryzyka z nim zwiazanego. Inwestowanie w akcje wiaze sie z ryzykiem utraty czesci lub calosci zainwestowanych srodków, a nawet koniecznoscia poniesienia dodatkowych kosztów.

https://mma.prnewswire.com/media/1273125/Allegro_Logo.jpg [https://mma.prnewswire.com/media/1273125/Allegro_Logo.jpg]

14 September 2020

Allegro.eu

Announcement of Intention to Float on the Warsaw Stock Exchange

Allegro.eu ("Allegro" and, together with its subsidiaries, the "Group"), Poland's number one commerce platform and the most recognized e-commerce brand in the country with a customer base of approximately 12.3 million active buyers and approximately 117,000 merchants, today announces its intention to undertake an initial public offering via a placing to institutional and retail investors. Allegro intends to apply for listing and admission of the Group's ordinary shares on the main market of the Warsaw Stock Exchange.

Commenting on today's announcement, François Nuyts, Chief Executive Officer, said:

"I am delighted to announce Allegro's intention to float on the Warsaw Stock Exchange. Allegro is a unique success storyshaped over 20 years, from local start-up to a European e-commerce champion. Alongside 12.3 million active buyers and 117,000 merchants, we are leading the digital transformation of Poland's economy and improving the everyday lives of millions of Poles and thousands of SMEs.

Allegro has demonstrated exceptional growth, profitability and cash generation at scale over time. We have seen an acceleration of growth over the last three years thanks to our ongoing strategic initiatives and investments, with annual GMV and net revenue reaching approximately 25% and over 30% growth, respectively, in 2019, and GMV and net revenue growth each over 50% in the first half of 2020. Adjusted EBITDA saw a similar trend, growing at 20% in 2019 and 28% in the first half of 2020 with margins in excess of 45%. Today marks a new phase in Allegro's growth journey as we invest in innovation; bring even more customers to our platform; invest in our people; and create the best possible experience for our buyers and merchants. We are proud to offer institutions and individuals the chance to take part - and we intend for every Allegro employee to become an owner of the company too."

About Allegro

Allegro is the number one commerce platform in Poland and has delivered strong revenue growth, profitability and cash flow at scale. The Group operates the leading online marketplace in Poland, Allegro.pl, and the leading price comparison platform in Poland, Ceneo.pl. The Group targets the retail market in Poland, which had an estimated size of PLN 621 billion (USD 156 billion) in 2019, and the Group's gross merchandise value ("GMV") accounted for approximately 3% of this market, which is forecasted to grow to PLN 724 billion (USD 182 billion) by 2024. As the most recognized e-commerce brand and the largest non-food retailer by GMV in Poland, Allegro.pl is also one of the world's top ten e-commerce websites and among the top 100 websites in the world by visits per month[1].

Merchants on the Group's e-commerce marketplace sell across a variety of categories covering electronics, home and garden; sports and leisure; kids; automotive; fashion and shoes; health and beauty; books, media, collectibles and art; and supermarket. The Allegro.pl marketplace platform facilitates the sale of new products primarily on behalf of merchants through a business-to-customer model and attracts visits from an average of 20 million internet users per month, which is equivalent to 76% of all internet users in Poland. The Group's e-commerce marketplace has a user base of approximately 12.3 million active buyers who connect with approximately 117,000 merchants, which resulted in an average of 32 million monthly transactions in the twelve months ended June 30, 2020. The Group's e-commerce marketplace generated GMV of PLN 28.4 billion (USD 7.1 billion) for the twelve months ended June 30, 2020.

Reasons for the Offering

The Group believes the Offering is a logical and significant next step for the Group in its development. It also believes the Offering will strengthen the Group's financial position by enabling it to repay part of its outstanding debt, support the Group's growth plans by increasing its public profile and brand awareness, and create a new long-term shareholder base for the Group, including employees, as well as liquidity for its existing and future shareholders.

Competitive Strengths

The Group believes its success is attributable to the following key strengths:

Allegro is the go-to commerce platform in a large, resilient and under-penetrated retail market

Platform[2]:

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