Joint Statement by Baillieu Limited Chairperson David Trude and Managing Director Gavin Powell

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Credit Corp Group (CCP) | Supply-side economics looks to FY23

Update: A$150m capital raising announced, comprising A$120m underwritten institutional placement and A$30m SPP. Offer price is A$12.50, an 11.6% discount to the last closing price. Rationale for raising: 1) strengthen the balance sheet by taking gearing to c.10% (as % of financial assets) versus the usual target range of 25-30% – CCP wants to continue to undertake normal purchasing through any negative impacts from COVID-19 (CV-19) and hence avoiding a run-off of PDLs to maintain cash flow; 2) to respond to an expected PDL supply increase in both Australia and the US; and 3) provide flexibility to respond to one-off purchasing opportunities.

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