Xplora secures NOK 100m supply-chain financing

08 Nov 2022 07:31 CET

Oslo 8 November 2022 – Xplora Technologies AS (“Xplora”, “the Company”) has
entered into a NOK 100m supply-chain financing facility with Nordea Bank Abp,
filial i Norge (“Nordea”). The agreement will optimize Xplora’s working capital
by better matching payment schedules in the Company’s supply chain.

The Nordea financing facility consists of a NOK 90m supply-chain financing
agreement and a NOK 10m revolving credit facility. The financing facility is on
favorable commercial terms for a three-year period with annual renewal.

The supply chain financing will optimize Xplora’s working capital in the period
from procurement of goods through sales, often up to six months, thus better
matching payment schedules between suppliers and customers.

“We are very pleased with the significant commitment Nordea, a leading Nordic
banking group, is providing Xplora through a competitively priced financing
facility. The financing agreement with Nordea is another significant step in
securing and managing Xplora’s growth, and further substantiates Xplora’s robust
financial position” says Sten Kirkbak, CEO and founder of Xplora.

“Xplora’s business model is working capital intensive. High sales growth and
longer lead times have increased working capital needs in recent years. With
this agreement Xplora gets another tool to optimize its capital structure and
invest in profitable growth initiatives” says Mikael Clement, CFO of Xplora.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.

For further information please contact:
Sten Kirkbak, CEO +47 9220 3710, sten.kirkbak@xplora.com
Mikael Clement, CFO +47 9900 8000, mikael.clement@xplora.com

About Xplora: Xplora is a platform and services company and an industry leader
in the market for children’s smartwatches. Xplora was founded to give children a
safe onboarding to the digital life and a better balance between screen time and
physical activity. Xplora’s vision is to enable children around the world to
experience how their everyday activities can create value and make a positive
change in the world. The company is headquartered in Norway with operations in
leading European markets. Xplora is listed on Euronext Growth under the ticker
symbol XPLRA.

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