BITTNET SYSTEMS S.A. (hereinafter referred to as the “Company” / “Issuer”) informs investors about a credit agreement between Dendrio Solutions SRL and Banca Transilvania (“BT”). The credit agreement is a revolving overdraft ceiling in amount of EUR 1.8 million and is intended to finance the borrower’s working capital and current activity.

The maturity is at 12 months with the possibility of extension, the variable interest is composed of EURIBOR 6M+2.15% per year. The guarantees established for this loan are: mortgage on the universality of the claims over clients of the borrower, mortgage on the bank accounts opened at Banca Transilvania and parental guarantee from Bittnet Systems SA. The withdrawals from the BT loan will ensure the pre-financing component for the IT&C integration projects, present and future, of Dendrio Solutions, thus strengthening the financing structure of the Group.

The Group’s management chose to explore the opportunity to borrow in foreign currency, considering the evolution of monetary policy interest rates over the last year, which led to the increase of interest on loans in RON.

CR43/20.10.2022