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Corporate News

123fahrschule starts the implementation of the direct resolution of the Annual General Meeting with a capital increase with possible proceeds of up to EUR 4.9 million and gives business update

123fahrschule SE (ISIN: DE000A2P4HL9; ticker symbol: 123F) – as already announced on 5 September 2022 – is starting to implement the capital increase resolved by the Annual General Meeting on 27 June 2022. Following the approval of the publication of the Securities Information Sheet (WIB) by the German Federal Financial Supervisory Authority (BaFin) on 6 September 2022 and the publication of the subscription offer on 7 September 2022, the subscription offer to the shareholders of 123fahrschule will now commence as planned on 8 September 2022. The subscription offer will consist of up to 700,719 new shares offered at a subscription price of EUR 7.00 per new share. The subscription period will end on 21 September 2022 (including). The WIB and the subscription offer are published on the IR website unternehmen.123fahrschule.de.

The capital increase is broadly supported by the management, the Executive Board and the Supervisory board; around 35,000 shares have already been subscribed from this group.

The capital increase resolved by the Executive Board and Supervisory Board on 5 September 2022 comes in a very important stage for 123fahrschule SE. After the strong growth in the last quarters, the company is facing another important growth threshold. Assuming that all shares are subscribed or placed, the company would have the opportunity with the funds raised in the capital increase to stem further acquisitions of driving schools with a total turnover of more than 12 million euros and to finally reach a level of turnover and earnings that are expected to generate a sustainable positive cash flow.

By intelligently expanding its acquisition strategy, the company plans to reduce the liquidity burden on the buyer's side in future acquisitions by means of seller financing attractive for both sides. In addition, the Executive Board is considering entering into majority shareholdings in new core regions in the future, in which the former owner shall retain a significant stake in the acquired company and thus participate in the growth of the region.

The company also reports a recently concluded, very successful month of August. August 2022 showed the second best registration numbers, best cash inflow, best turnover and second best value of driving hours delivered in the company's history. The best value of driving hours was achieved in March 2022, the month in which the company was able to achieve a positive EBITDA for the first time. Based on preliminary figures, the Executive Board assumes that a nearly positive EBITDA was also achieved in August 2022 and that this development will continue in the following months – subject to external influences from Corona or the energy crisis.

In addition to the operating business, the continuous development of the 123fahrschule technology is also the focus of activities. In recent months, considerable improvements have been made to the app and the backend systems, which have led to a significant improvement in the internet ratings on Google, Trustpilot and in app stores. The internally determined NPS score is currently 68 and is to be successively improved in the future.

The further development steps planned for this in 2022 will create the basis for a significant increase in the level of digitalization and automation in 2023, which should once again significantly reduce the general administrative costs in the future. In particular, the stronger digitalization is intended to make the training process more efficient and plannable for the student in order to achieve greater customer satisfaction, a higher NPS score and thus a steadily increasing recommendation rate.

Contact:

123fahrschule SE

Your contact: Felicia Kollofrath

Tel: 0221-177357-60 | [email protected] | www.123fahrschule.de

More information at: www.123fahrschule.de

Important Notice

This document and the information contained herein are for information purposes only and do not constitute a prospectus or an offer to sell or a solicitation of an offer to buy any securities of the Company in the United States of America ("United States") or in any other jurisdiction. This publication may not be released, published or distributed in the United States, Australia, Canada or Japan. The securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities of the Company have not been, and will not be, registered under the Securities Act or under the applicable securities laws of Australia, Canada or Japan. Except in Germany, there will be no public offer of shares of the Company. In Germany, the public offering will be made on the basis of a securities information sheet (Wertpapier-Informationsblatt) which was approved by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - "Bafin") on 6 September 2022 and subsequently published on the website of the Company at www.unternehmen.123fahrschule.de.

The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

Über die 123fahrschule SE

Die börsennotierte 123fahrschule SE (ISIN: DE000A2P4HL9, Ticker-Symbol: 123F) ist eine im Jahr 2016 unter dem Namen 123fahrschule Holding GmbH gegründete, digital getriebene Fahrschulkette mit Fokus auf E-Learning. Die 123fahrschule SE hat sich auf die digitale Erweiterung der klassischen Führerscheinausbildung des deutschen Fahrschulmarktes spezialisiert. Die Kernkompetenz des Unternehmens liegt auf der digital unterstützten Ausbildung von Privatpersonen für die Führerscheinklasse im B-Segment. Mit bundesweit mehr als 50 Standorten ist die 123fahrschule bereits heute die größte Fahrschulkette im B-Segment und plant die weitere Expansion auf bis zu 200 Standorte in den nächsten Jahren.