Results of Secondary Placing of Ordinary Shares

PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

SALE OF 63 MILLION ORDINARY SHARES IN BALTIC CLASSIFIEDS GROUP PLC ("BCG")

Antler EquityCo S.à r.l. ("Antler"), which is controlled by funds advised by Apax Partners LLP ("Apax"), announces that it has sold approximately 63 million ordinary shares in the capital of BCG, representing approximately 13% of BCG's issued ordinary share capital, at a price of 247 pence per share (the "Placing Price") raising gross sale proceeds of approximately £156 million. This represents a full exit by Antler of its position in BCG.

The sale comprises approximately 59 million ordinary shares of BCG (the "Placing Shares") sold by Antler to institutional investors raising gross sale proceeds of approximately £146 million (the "Placing") and 4.2 million ordinary shares of BCG sold by Antler to BCG raising gross sale proceeds of approximately £10 million (the "Off Market Purchase"). On the back of strong deal momentum, the Placing was upsized by approximately 100% from the original Placing size of 30 million ordinary shares (as announced on 12 July 2024).

The Off Market Purchase was conducted at the Placing Price pursuant to a contract (the "Buyback Contract") between Antler and BCG, which was approved by the shareholders of BCG at its Annual General Meeting on 27 September 2023.

BofA Securities Europe SA ("BofA Securities") acted as sole Global Coordinator in connection with the Placing. Settlement of the Placing and the Off Market Purchase is expected to take place on 17 July 2024.

BCG is not a party to the Placing and will not receive any proceeds from the Placing. Following its exit Antler will not be subject to the lock-up obligation announced on 12 July 2024.