Shape Robotics secures 92.5 Million RON Financing Agreement (approximately 138.75 Million DKK) with UniCredit Romania to boost SmartLab Production, delivery capacity, and R&D

Company Announcement no. 27-24
The announcement contains inside information.

Herlev, Denmark - 14 November 2024 - Shape Robotics A/S, a leader in educational robotics, is pleased to announce a comprehensive financing and factoring agreement totaling 92.5 million RON (approximately 138.75 million DKK) with UniCredit BANK, replacing our previous facilities with BRD Groupe Société Générale.

This new financing structure optimizes our cash flow by ensuring access to liquidity across our operations, addressing the cash pressures from long payment cycles. The broader factoring facility also reduces dependency on a single debtor, enabling us to diversify income streams and maintain smoother cash flow.

Mark Abraham, CEO of Shape Robotics, said: "This refinancing with UniCredit not only strengthens our financial position but also underscores our commitment to scaling our operations and delivering innovative educational solutions. By increasing our factoring capacity and securing favorable credit terms, we can better manage cash flow, meet the growing demand for SmartLabs, and continue our mission to transform education through technology."

The enhanced liquidity also strengthens Shape Robotics' capability to further drive R&D and operational expansion, meeting market demand while ensuring stability for future growth. With UniCredit as our financial partner, we are poised to extend access to cutting-edge STEAM learning tools, empowering classrooms across Romania and beyond.

Key Components of the Agreement:

• 32.5 Million RON (Approximately 48.75 Million DKK) Credit Facility
• Borrower: Shape Robotics Romania S.R.L.
• Term: 48 months with flexible repayment options.
• Purpose: To finance specific expenses related to SmartLab, 3D printing, and AI educational platforms.
• Security: Backed by a 70% InvestEU Innovation & Digitalisation Guarantee, a 100% corporate guarantee from Shape Robotics A/S, and mortgages on accounts, receivables, and stock.

• Interest: Variable rate based on the 3-month ROBOR plus a 2.46% margin annually.

• 60 Million RON (Approximately 90 Million DKK) Factoring Facility

• Expansion: Increased from 40 million RON (approximately 60 million DKK) limited to Network One Distribution (NOD) under BRD, now extended to cover multiple debtors.
• Funding Percentage: Covers up to 90% of eligible transferred receivables.
• Purpose: Supports cash flow by enabling immediate financing of receivables, which is essential given extended payment terms in large-scale educational projects.

This new partnership and the new loan facility do not change the Company's financial guidance for 2024.

About Shape Robotics

Shape Robotics is a Danish EdTech leader specializing in robotics and educational technology for STEAM learning. With products like Fable robots and SmartLab solutions, Shape Robotics empowers students to explore hands-on learning, fostering creativity, collaboration, and critical thinking in classrooms worldwide.

About UniCredit Romania

UniCredit Romania is part of UniCredit Group, a leading European bank that serves millions of clients across 13 countries. UniCredit is committed to supporting innovation and development through financial solutions that foster business growth and societal advancement.

About the InvestEU Innovation & Digitalisation Scheme

The InvestEU program is a cornerstone of the European Union's strategy to promote investment in innovation, digitalization, and sustainability. The Innovation & Digitalisation scheme, part of the broader InvestEU initiative, aims to accelerate the digital transformation of European industries and enhance the competitiveness of businesses through financial guarantees, loans, and investment support. By providing robust guarantees, the scheme reduces the risk for lenders, attracting private investment and enabling businesses like Shape Robotics to scale up operations, innovate, and contribute to Europe's digital future.