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Upon the closing, Spark Networks SE will appoint Steven Mc Arthur, Zoosk’s CEO and Deepak Kamra, General Partner at Canaan Partners, Zoosk’s largest shareholder, to Spark’s Board of Directors.Conference Call Spark Networks SE will host a conference call at AM Pacific Time ( AM Eastern Time), on Friday March 22, 2019 to discuss the transaction.Spark expects the transaction to drive meaningful margin expansion in 2020 and beyond.“Zoosk is one of the strongest dating apps in the North American market, which comprises half of the billion global online dating opportunity,” said Jeronimo Folgueira, Chief Executive Officer of Spark Networks SE.

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For more information, see the risk factors described in Spark Networks’ Annual Reports on Form 20-F and other filings with the SEC.Spark believes this measure provides management and investors with a consistent view, period to period, of the core earnings generated from ongoing operations and excludes the impact of items that Spark does not consider representative of its ongoing operating performance, including: (i) non-cash items such as share-based compensation, asset impairments, non-cash currency translation adjustments, (ii) one-time items that have not occurred in the past two years and are not expected to recur in the next two years, including severance, transaction advisory fees, and integration costs, and (iii) discontinued operations.Adjusted EBITDA should not be construed as a substitute for net loss (as determined in accordance with IFRS) for the purpose of analyzing Spark’s operating performance or financial position, as Adjusted EBITDA is not defined by IFRS.Over 75% of Spark shareholders have committed to vote in favor of the transaction.The transaction was unanimously approved by both the Spark and Zoosk boards of directors.

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