Nuvei board says recent allegations

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MONTREAL, Dec. 14 2021 (GLOBE NEWSWIRE) – The Board of Directors of Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the global payment technology partner of successful brands, today released This is his statement of support for the company and its management team in its review of the allegations made in a recent report on short sellers.

Immediately after the release of the report last week making a series of allegations against Nuvei, the company’s board of directors led by its independent directors retained the services of legal counsel to help determine whether the claims were. founded. Based on the review launched last week, the Board finds the allegations to be misleading, false, or unrelated to Nuvei’s business. The board is satisfied that Nuvei’s financial and other information is correct in all material respects.

Michael Hanley, Independent Lead Director of Nuvei, said: “As a leading and growing global payment technology provider, integrity is fundamental to Nuvei’s business and is the cornerstone of its commitment to all stakeholders, including its employees, customers and shareholders. We strongly support the Nuvei leadership team and its track record. The report is nothing more than a selfish attempt to inflict damage on the activities of the company and its leadership and generate a profit at the expense of Nuvei stakeholders.

Nuvei has been subject to extensive due diligence, both by its private investors and in connection with its public offerings and listings on the Toronto Stock Exchange and Nasdaq. In addition, Nuvei operates in a highly regulated environment and is continually subject to in-depth due diligence and audits by regulators, banking partners, customers, card schemes and other industry players in all markets. on which the Company operates.

Phil Fayer, President and CEO, said, “The allegations against Nuvei are malicious and unfounded. I support all of our employees as we continue to execute our strategy by relentlessly focusing on supporting our customers and transforming the world into a local market. We will not let the report distract us any further and we remain steadfast in our commitment to driving growth and value for our shareholders. “

Mr. Fayer added: “We remain on track to deliver our financial outlook for the year 2021 disclosed on November 9, 2021 and reiterate our medium and long term growth objectives, reflecting our continued drive to drive innovation, growth and the conquest of new customers. “

About Nuvei

We are Nuvei (Nasdaq and TSX: NVEI), the global payment technology partner of successful brands. We provide the intelligence and technology businesses need to succeed locally and globally, through a single integration – propelling them further, faster. By combining payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates. Our proprietary platform provides seamless checkout and payment capabilities, connecting merchants to their customers in over 200 markets around the world, with local acquisition in 45 markets. With support for over 500 local and alternative payment methods, nearly 150 currencies, and 40 cryptocurrencies, merchants can grab every payment opportunity that comes their way. Our goal is to make our world a local market.

Forward-looking information

This press release contains “forward-looking information” within the meaning of applicable securities laws, including a reaffirmation of Nuvei’s outlook. In some cases, forward-looking information may be identified by the use of forward-looking terms such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity”. exists “,” budget “,” planned “,” estimate “,” outlook “,” forecast “,” projection “,” outlook “,” strategy “,” consider “,” anticipate “,” do not anticipate “, “believes”, or variations of such words and phrases or statements that certain actions, events or results “could”, “could”, “would”, “could”, “will”, “shall”, “occur” or “would be reached”, the negative of these terms and similar terminology. In addition, any statement that refers to expectations, intentions, projections or other characterizations of future events or circumstances contains forward-looking information. Statements containing forward-looking information are not historical facts but rather represent management’s expectations, estimates and projections regarding future events or circumstances. Nuvei’s outlook and targets, as applicable, on revenues, Adjusted EBITDA and Adjusted EBITDA margin also constitute “financial outlook” within the meaning of applicable securities laws and are provided for the purpose of ‘Help the reader understand the financial performance of the Company and measure progress towards management’s goals and the reader is cautioned that this may not be appropriate for other purposes. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the control of the Company, which could cause actual results to differ materially from those disclosed or implied by such forward-looking information. These risks and uncertainties include, without being limited to, those described in the “Risk Factors” section of the Company’s Annual Information Form filed on March 17, 2021 and under the “Risk Factors” section of the Company’s MD&A. for the three and nine months ended September 30, 2021 and 2020. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management. In particular, the assessments, outlook and objectives of management regarding total volume, revenues, Adjusted EBITDA and Adjusted EBITDA margin set forth herein are generally based on the following assumptions: (a) results operations of Nuvei will continue as planned, (b) the Company will continue to effectively execute its key strategic growth priorities, despite the current COVID-19 pandemic and the measures taken to contain the virus, (c) the Company will continue to retain and develop its existing customer base while adding new customers, (d) the Company will not make any acquisitions or divestitures (e) economic conditions will remain relatively stable throughout the period, (f) the industries in which Nuvei operates will continue to grow in accordance with past experience, (g) there will be no fluctuations in exchange rates and financial market volatility, (h) there will be no ch material change in legislative or regulatory matters, and (i) current tax laws will remain in force and will not be materially changed. Although the forward-looking information contained in this press release is based on what management considers reasonable assumptions, you are cautioned not to place undue reliance on such information as actual results may differ from forward-looking information. Unless otherwise indicated or the context indicates otherwise, forward-looking information contained in this press release is provided as of the date of this press release, and the Company does not undertake to update or modify such forward-looking information, whether either because of new information, future events or otherwise, unless required by applicable law.

Contact: Investors Anthony Gerstein Vice President, Head of Investor Relations [email protected]

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