Emitel wins tender to broadcast DAB+

8 November 2023

LEI: 213800T8RBBWZQ7FTF84

Cordiant Digital Infrastructure Limited

Emitel wins tender to broadcast DAB+

Cordiant Digital Infrastructure Limited (the "Company"), an operationally focused specialist digital infrastructure investor, is pleased to announce that its Polish portfolio company Emitel S.A. ("Emitel") has won a nationwide tender to extend digital broadcast coverage to 17 regional radio stations for state broadcaster, Polskie Radio.

Under the new agreement, Emitel will extend the existing coverage of DAB+ digital signal from 67 per cent to 88 per cent of Poland's households. Polskie Radio is the largest broadcaster of DAB+ radio in Poland, operating a large number of radio stations including Radio Poland national and regional services (which also broadcast in English, German and Ukrainian).

This contract is a continuation of an existing contract held by Emitel and will result in further investments in the expansion of DAB+ coverage which are expected to lead to incremental extra revenues for Emitel. The contract runs to Q3 2027, has a gross value of PLN59.5 million (c.£12 million) and revenues are index-linked to inflation.

Andrzej Koz?owski, CEO of Emitel, said "We are proud that it is Emitel that will implement the next stage of expanding DAB+ coverage for Polskie Radio and regional radio stations. Digital radio offers the best sound quality, the possibility of broadcasting more channels, and additional features such as the transmission of graphics or text, which can be displayed on a DAB+ receiver in the car or at home."

Steven Marshall, Chairman of the Supervisory Board of Emitel and Co-Founder of Cordiant Digital Infrastructure, said "We are delighted with this contract win by Emitel with a blue-chip customer. As a result, the company will play a key part in building out Poland's DAB+ radio infrastructure and expects to earn incremental, index-linked revenues for the duration of the contract. Wins such as this validate our Buy, Build & Grow model and create real value for our shareholders."

For further information, please visit www.cordiantdigitaltrust.com or contact:

About Cordiant Digital Infrastructure Limited

The Company primarily invests in the core infrastructure of the digital economy - data centres, fibre-optic networks and telecommunication and broadcast towers in Europe and North America. Further details about the Company can be found on its website at www.cordiantdigitaltrust.com.

In total, the Company has successfully raised £795 million in equity, along with a further ?200m through a Eurobond with four European institutions; deploying the proceeds into four acquisitions: CRA, Hudson Interxchange, Emitel and Speed Fibre Group which together offer stable, often index-linked income, and opportunities for growth, in line with the Company's Buy, Build & Grow model.

About the Investment Manager

Cordiant Capital is a specialist global infrastructure and real assets manager with a sector-led approach to providing growth capital solutions to promising mid-sized companies in Europe, North America and selected global markets. Since the firm's relaunch in 2016, Cordiant - a partner-owned and partner-run firm - has developed a track record of exceeding mandated investment targets for our clients.

Cordiant focuses on the next generation of infrastructure and real assets: sectors (digital infrastructure, energy transition infrastructure and the agriculture value chain) characterised by growth tailwinds and technological dynamism. In addition, Cordiant applies a strong sustainability and ESG overlay to its investment activities.

With a mix of managed funds offering both value-add and core strategies in equity and direct lending, our sector investment teams (combining seasoned industry executives with traditional private capital investors) work with investee companies to develop innovative, tailored financing solutions backed by a comprehensive understanding of the sector and demonstrated operating capabilities. In this way, Cordiant aims to provide value to investors seeking to complement existing infrastructure equity and infrastructure debt allocations.

About Emitel

Emitel is the largest operator of digital terrestrial television ("DTT") in Poland as well as IPTV platforms, the leading radio broadcast emissions provider and a leading provider of network neutral towers and fibre infrastructure.