5 March 2025

Fiinu Plc

("Fiinu", the "Company" or the "Group")

Board Change, Operational Update & Senior Appointments

Fiinu, a fintech group and creator of the Plugin Overdraft®, announces the appointment of a new Chief Financial Officer and provides an operational update, including further senior management appointments.

Appointment of new Chief Financial Officer

The Company is pleased to announce that Dr Feyzullah ("Feyz") Egriboyun CGMA, has joined Fiinu as Group CFO and has been appointed as an executive director of Fiinu Plc with immediate effect.

Feyz is a finance professional with over 25 years of experience in international finance. He has broad knowledge of quantitative finance, capital markets, treasury, financial institutions, investor relations, retail banking, Islamic banking, and digital banking.

Feyz started his career as a Quantitative Analyst at Credit Suisse First Boston in New York. Having worked at various international investment banks in New York, he moved to London to continue his career in banking. After spending some time in his native Turkey as a finance professor and a bank executive, Feyz moved back to London and has been a Finance leader at various institutions. He played an instrumental role in creating a digital retail bank project, helping the organisation obtain a deposit-taking bank licence from the PRA and the FCA. He has also taught finance and banking at different institutions.

Having trained as an engineer and mathematician at Bogazici University of Turkey, Feyz brings a blend of technical and financial expertise to his roles. He received his MS and PhD degrees in Mathematical Finance from Carnegie Mellon University in the USA. He is a CIMA-qualified management accountant and holds an FRM (Financial Risk Manager) designation by the GARP (Global Association of Risk Professionals). He is a global citizen, having citizenship in the United States, United Kingdom, and Turkey.

Operational Update and other Senior Appointments

On 15 January 2025, the Company announced that it had signed non-binding heads of terms with an independent UK bank to launch Fiinu's Plugin Overdraft® as a white-label offering in the UK, subject to contract including any necessary regulatory approvals.

A month later, on 14 February 2025, the Company announced that it had raised additional equity capital in response to market demand, with the funds being used to enhance its Plugin Overdraft® as a white-label offering, as previously notified, and to provide Fiinu with additional working capital.

The Company is now pleased to update that it has started unboxing its earlier developed, and independently audited, Plugin Overdraft® platform, and has made some key re-hires to lead this white-label project. Further updates will be provided in due course as work progresses towards its planned launch in the UK, which is anticipated during Q4 2025. Furthermore, the Company maintains existing and new conversations with other banks who have expressed interest in its technology.

The Company is also pleased to announce the re-appointments of technology and operations heads who used to lead the Plugin Overdraft® platform development and operational readiness for Fiinu Bank during its mobilisation.

·    Timo Rinne has re-joined the Group as Head of Technology, having previously been with Fiinu Bank. Timo has deep technical understanding of Open Banking, agentic AI, and core banking technology experience, having implemented and configured complex Open Banking enabled systems at different retail banks across Europe. Timo is leading the technical unboxing of Fiinu's Plugin Overdraft® platform for the UK bank's white-label offering and will work closely with Dr Egriboyun and Dr Sjoblom on Fiinu's bespoke underwriting agentic AI.

·    Albert Owen III has re-joined Fiinu as the Head of Operations for the Group. He is responsible, as programme director, for mobilising Fiinu's Plugin Overdraft® technology platform for the UK bank's white-label offering. Albert comes with a considerable track record in overdraft-style lending, having previously worked for Fiinu Bank as Head of Operations, preparing it for operational readiness to comply with UK regulatory requirements. He first worked with Fiinu's CEO over 15 years ago.

Commenting, David Hopton, Chairman of Fiinu, said:

"We are pleased with the significant progress Fiinu has made over recent months, particularly in securing the additional capital to deliver to a third-party UK bank to launch our flagship Plugin Overdraft® product. These milestones mark a key step in our strategic vision to expand the reach of our technology through white-label partnerships. The market is wide open and we want a number of banks to offer the Plugin Overdraft® to consumers as we begin the unbundling of the market infrastructure for overdrafts.

"Furthermore, we are delighted to welcome back former colleagues who have played instrumental roles in developing our technology and operations. With the appointments of Dr. Feyzullah Egriboyun as CFO, Timo Rinne as Head of Technology, and Albert Owen III as Head of Operations, we have assembled a small and nimble leadership team with deep expertise in AI, Open Banking, and operational excellence required by the UK financial regulators. Their experience will be invaluable as we execute our strategy and we look forward to reporting on our progress over the coming months."

Additional disclosure information required by Schedule 2(g) of the AIM Rules for Companies

Dr. Feyzullah ("Feyz") Egriboyun CGMA

In addition to his appointment to the board, Dr. Feyzullah Egriboyum, aged 53, holds (or has held) the following directorships/partnerships in the past five years:

Neither Dr. Egriboyun, nor any person closely associated with him, has any direct or indirect personal interest in the shares of Fiinu Plc

There is no further information to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules for Companies.

Forward-Looking Statements:

This announcement contains forward-looking statements. Actual results may differ materially due to various factors, including but not limited to delays in regulatory approval, unforeseen difficulties in the integration process, and changing market conditions.

The Directors of the Company are responsible for the release of this announcement

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About Fiinu

Fiinu, founded in 2017, is a fintech group that has developed the Plugin Overdraft®, an unbundled overdraft solution that allows customers to have an overdraft without changing their existing bank. The underlying bank Independent Overdraft® technology platform is bank agnostic, enabling it to serve all other banks' customers. The Plugin Overdraft® platform can technically access over 100 million bank accounts in the UK. Open Banking allows Fiinu's Plugin Overdraft® to attach ("plugin") to the customer's existing primary bank account, no matter which bank they may use. Fiinu's vision is built around Open Banking, and it believes it increases competition and innovation in banking.

For more information, please visit www.fiinuplc.com