S&P confirms BBB+/A-2 rating of GRENKE AG and raises hybrid bond rating following new
valuation methodology

Baden-Baden, December 16, 2021: GRENKE AG, global financing partner for small and medium-sized enterprises, today reports a new Rating Action from Standard & Poor's. S&P Global Ratings affirmed today GRENKE AG's "BBB+/A-2" long- and short-term issuer credit ratings. S&P left the outlook for the long-term rating unchanged at "negative". The issuer rating for the hybrid bonds was raised from "BB-" to "BB".

Prompting the action is a new rating methodology for banks and financial institutions published by Standard & Poor's on December 9, 2021, which, among other things, allows S&P to include additional credit factors when determining the stand-alone credit profile (SACP). On this basis, S&P Global Ratings has also raised GRENKE AG's stand-alone rating by one notch. S&P justifies the adjustment by stating that it continues to expect higher profitability and better risk-adjusted margins at GRENKE compared to financial institutions with similar credit ratings, and that this assessment had not yet been taken into account in the SACP.

S&P's latest report can be downloaded at https://www.grenke.com/investor-relations/debt-capital/.

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About GRENKE

The GRENKE Group (GRENKE) is a global financing partner for small and medium-sized companies. As a one-stop shop for customers, GRENKE's products range from flexible small-ticket leasing and demand-driven bank products to convenient factoring. Fast and easy processing and personal contact with customers and partners are at the centre of GRENKE's activities.

Founded in 1978 in Baden-Baden, the Group operates in 33 countries and employs more than 1,800 staff (full-time equivalents) worldwide. GRENKE shares are listed in the SDAX on the Frankfurt Stock Exchange (ISIN DE000A161N30).