Refinancing of Group Debt Facilities

GoCo Group plc22 October 2019

Refinancing of Group Debt facilities

GoCo Group plc ('the Group' or 'GoCo') today announces that it has successfully completed the refinancing of its bank facilities with a group1 of existing and new banks. The new facilities will comprise a 4 year Revolving Credit Facility ("RCF") of £105m and 4 year term loan of £15m, both with an option to extend for a further year.

As well as the extended term, the refinancing provides the Group with additional flexibility, with an increase in the RCF2 and an increase in the leverage3 covenant from 2.5x adjusted EBITDA to 3.0x adjusted EBITDA, with the margin and all other material terms maintained broadly in line with the Group's existing facilities.

Nick Wrighton, CFO of GoCo Group, said:

"The agreement secures an increased and more flexible facility, providing the Group with capacity to deliver against its strategy of accelerating the customer numbers in its AutoSave business whilst maintaining a disciplined cost of customer acquisition.

"I am pleased that we have been able to agree attractive terms with the banks and that they are supportive of our strategy, which we believe will lead to a significantly higher EBITDA margin profile for GoCo Group and be transformative to Group earnings by 2022."

Ends

For further information:

Nick Wrighton Alex Jessop

Chief Financial Officer VP of Investor Relations & Strategic Planning

GoCo Group GoCo Group

t: 01633 655 051 t: 01633 654060

e: [email protected]  e: [email protected]

Victoria Rees Chris Barrie / Jos Bieneman / Elizabeth Kittle

PR Manager - GoCo Group plc Citigate Dewe Rogerson

t: 01633 654 731 t: 0207 638 9571

e: [email protected] e: [email protected] 

Notes:

1 Banking group of Natwest, Bank of Ireland, Royal Bank of Canada and Allied Irish Banks

2 Current facility has an RCF of £40m and a Term Loan of £55m, with £10m amortisation per annum

3 Group leverage at 30 June 2019 was 1.8x adjusted EBITDA

About GoCo Group plc (www.gocogroup.com)

GoCo Group plc operates GoCompare, a leading UK financial services, utilities and home services comparison website; weflip, an innovative switching service that uses technology to automatically flip people onto cheap energy tariffs, forever; Look After My Bills a leading energy savings service, automatically switching customers onto the best deal after 12 months; MyVoucherCodes, which is a digital media and affiliate marketing specialist that connects consumers with money saving offers from the world's leading brands and Energylinx, an established energy switching and comparison service with more energy supplier relationships than any other UK comparison provider.