Viaplay Group AB (publ) ("Viaplay Group" or the "Group") today announces that it has received subscriptions and applications for subscription for 159 percent of the 870,344,684 class B shares offered in its Rights Issue. The subscription period for the Rights Issue ended on 2 February 2024. Subscriptions with the support of subscription rights were received for 817,437,404 shares, corresponding to approximately 94 percent of the offered shares. In addition, applications for subscriptions without the support of subscription rights were received for 562,836,027 shares, corresponding to approximately 65 percent of the offered shares. Completion of the Rights Issue is conditional on Viaplay Group receiving payment for all of the class B shares. Viaplay Group expects, in line with the communicated timetable, that it will receive the remaining payments for the Rights Issue and its SEK 3.1 billion Directed Issue, and that all other relevant components of the recapitalisation programme will be completed, on 9 February 2024.

On 1 December 2023, Viaplay Group announced a proposal for a comprehensive recapitalisation programme. It includes an equity capital injection of SEK 4 billion, by means of a SEK 3.1 billion directed share issue (the "Directed Issue") and a SEK 0.9 billion rights issue (the "Rights Issue"); a SEK 2 billion write-down of existing debt obligations, of which SEK 0.5 billion is to be converted into equity (the "Debt-to-Equity Issue"); an amendment and extension of existing bank and bond commitments; and a range of self-help measures to improve Viaplay Group's liquidity and profitability. The Directed Issue, the Rights Issue and the Debt-to-Equity Issue were approved at an extraordinary general meeting of Viaplay Group on 10 January 2024.
Assuming payments for the Rights Issue and the Directed Issue are received according to plan on 9 February 2024, Viaplay Group expects to be able to announce that the recapitalisation programme will be successfully completed shortly thereafter. Subject to such confirmation, all new class B shares in Viaplay Group issued through the Rights Issue, the Directed Issue and the Debt-to-Equity Issue are expected to be registered with the Swedish Companies Registration Office on 12 February 2024. The shares are then expected to be delivered to investors and admitted to trading on Nasdaq Stockholm on 16 February 2024.

Advisors
Carnegie Investment Bank AB (publ) ("Carnegie") and Morgan Stanley & Co. International plc ("Morgan Stanley") are acting as financial advisors to Viaplay Group. Gernandt & Danielsson Advokatbyrå KB is acting as legal advisor to Viaplay Group, and Linklaters Advokatbyrå AB & Linklaters LLP is acting as legal advisor to Carnegie and Morgan Stanley in connection with the recapitalisation.

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N O T E S  T O  E D I T O R S

Viaplay Group AB (publ) is the international entertainment provider. Our Viaplay streaming service is available direct-to-consumer in every Nordic and Baltic country, Poland, the Netherlands, the UK, the US and Canada. Every day, millions of customers enjoy our unique entertainment offering, including acclaimed Viaplay Series, Films and more, and an unrivalled line-up of premium live sports. In addition, our innovative Viaplay Select branded content concept makes Viaplay's compelling storytelling available to partners around the world. From streaming to TV channels, radio stations and production companies, our purpose is to tell stories, touch lives and expand worlds. Viaplay Group is listed on Nasdaq Stockholm (`VPLAY B').

The information was submitted for publication, through the agency of the contact person set out below, at 18:45 CET on 5 February 2024.

Contact us:
press@viaplaygroup.com(or: +46 73 699 1700)
investors@viaplaygroup.com(or: +44 7768 440 414)

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Important information
None of the securities referred to herein have been or will be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state or other jurisdiction in the United States, and may not be offered, pledged, sold, delivered or otherwise transferred, directly or indirectly, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with applicable other securities laws. There will not be any public offering of any of the securities in the United States.

In the United Kingdom, this press release is directed only at, and communicated only to, persons who are qualified investors within the meaning of article 2(e) of the Prospectus Regulation (2017/1129) of the European Parliament and of the Council of 14 June 2017 as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 who are (i) persons who fall within the definition of "investment professional" in article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), or (ii) persons who fall within article 49(2)(a) to (d) of the Order, or (iii) persons to whom it may otherwise be lawfully communicated (all such persons referred to in (i), (ii) and (iii) above together being referred to as "Relevant Persons"). This press release must not be acted on or relied on by persons in the UK who are not Relevant Persons.

This press release and the information herein is not for release, distribution or publication, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Japan, New Zealand, South Africa, Switzerland or any other state or jurisdiction in which such release, distribution or publication would be unlawful or require registration or any other measures in accordance with applicable law.

The press release is for informational purposes only and does not constitute an offer to sell or issue, or the solicitation of an offer to buy or acquire, or subscribe for, any of the securities mentioned herein (collectively, the "Securities") or any other financial instruments in the Company. Any offer in respect of any of the Securities will only be made through the prospectus that the Company expects to publish in due course. Offers will not be made to, and application forms will not be approved from, subscribers (including shareholders), or persons acting on behalf of subscribers, in any jurisdiction where applications for such subscription would contravene applicable laws or regulations, or would require additional prospectuses, filings, or other measures in addition to those required under Swedish law. Measures in violation of the restrictions may constitute a breach of relevant securities laws.

This press release contains forward-looking statements that reflect the Company's current view of future events as well as financial and operational development. Words such as "intend", "assess", "expect", "may", "plan", "estimate" and other expressions involving indications or predictions regarding future development or trends, not based on historical facts, identify forward-looking statements and reflect the Company's beliefs and expectations and involve a number of risks, uncertainties and assumptions which could cause actual events and performance to differ materially from any expected future events or performance expressed or implied by the forward-looking statement. The information contained in this press release is subject to change without notice and, except as required by applicable law, the Company does not assume any responsibility or obligation to update publicly or review any of the forward-looking statements contained in it and nor does it intend to. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release. As a result of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements as a prediction of actual future events or otherwise.

This announcement does not constitute an investment recommendation. The price and value of securities and any income from them can go down as well as up and you could lose your entire investment. Past performance is not a guide to future performance. Information in this announcement cannot be relied upon as a guide to future performance.

The securities mentioned in this press release have not been registered and will not be registered under any applicable securities law in Australia, Canada, Japan, New Zealand, South Africa or Switzerland and may, with certain exceptions, not be offered or sold within, or on behalf of a person or for the benefit of a person who is registered in, these countries. The Company has not made an offer to the public to subscribe for or acquire the securities mentioned in this press release other than in Sweden.

In the EEA Member States, with the exception of Sweden and any EEA Member State to which the prospectus regarding the Rights Issue have been passported, (each such EEA Member State, a "Relevant State"), this press release and the information contained herein are intended only for and directed to qualified investors as defined in Article 2 (e) of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (the "Prospectus Regulation"). The securities mentioned in this press release are not intended to be offered to the public in any Relevant State and are only available to qualified investors except in accordance with exceptions in the Prospectus Regulation. Persons in any Relevant State who are not qualified investors should not take any actions based on this press release, nor rely on it.