M-Files Secures $80 Million Growth Investment Led by Bregal Milestone

Austin, Texas; Tampere, Finland; and London, United Kingdom, 12 January 2021 – M-Files, the intelligent information management company, today announced that it has received a strategic
investment of $80 million (€67 million). Bregal Milestone, a European growth capital firm, led the round
with current investors Partech, Tesi and Draper Esprit also participating.

M-Files provides an intelligent, repository neutral platform that utilizes metadata and artificial
intelligence (AI) to break down information silos and unify systems, data and content across an
organization. M-Files seamlessly embeds within popular digital workplace platforms, including Microsoft
365, Salesforce and Google Workspace, enabling users to access and manage documents and information from the applications where they prefer to work.

From small and medium-sized businesses to large global enterprises, M-Files is a trusted partner to
thousands of customers in over 100 countries, helping them increase efficiencies and drive productivity.
M-Files has more than 500 employees located across 11 global offices. The company's software-as-a-service (SaaS) business model continues to propel its strong growth. M-Files has been featured in the
Gartner Magic Quadrant for Content Services Platforms (formerly Enterprise Content Management)
since 2012 and named a Visionary for the last five consecutive years.

Antti Nivala, CEO and Founder of M-Files:
“Bregal Milestone’s extensive experience investing in the B2B enterprise software sector and their
philosophy in partnering with fast-growing companies like M-Files made the firm an attractive
investment partner. We’ve identified opportunities to accelerate our growth and further expand M-Files’
market penetration, especially in North America. The valuable investment from Bregal Milestone,
bolstered by support from our existing shareholders Partech, Tesi and Draper Esprit, will enable M-Files
to deliver further innovations in product development, AI and our cloud platform.”

Cyrus Shey, Managing Partner of Bregal Milestone:
“We are thrilled to partner with the M-Files team to support Antti and his team on their very exciting
growth journey. M-Files has a robust and cutting-edge solution that brings tangible value-add to its
customers. We look forward to supporting management in accelerating growth and further
consolidating M-Files’ leadership position, namely in the US and other key geographies. The transaction
is the 9th investment made by Bregal Milestone’s inaugural growth capital fund in just over 2 years, and
we couldn’t be more proud to partner with Antti and the world-class M-Files team.”

About M-Files Corporation

M-Files provides a next-generation intelligent information management platform that improves
business performance by helping people find and use information more effectively. Unlike traditional
enterprise content management (ECM) systems or content services platforms, M-Files unifies systems,
data and content across the organization without disturbing existing systems and processes or requiring
data migration. Using artificial intelligence (AI) technologies in its unique Intelligent Metadata Layer,
M-Files breaks down silos by delivering an in-context experience for accessing and leveraging
information that resides in any system and repository, including network folders, SharePoint, file sharing
services, ECM systems, CRM, ERP and other business systems and repositories. Thousands of
organizations in more than 100 countries use M-Files for managing their business information and
processes, including NBC Universal, OMV, Valmet, SAS Institute and thyssenkrupp. For more
information, visit www.m-files.com.

About Bregal Milestone

Bregal Milestone is a growth capital firm managing a €495 million pan-European fund dedicated to
making investments in high-growth European companies. The firm provides growth capital and strategic
assistance to support market-leading companies in the technology and technology-enabled services
sectors. Bregal Milestone is part of Bregal Investments, who have invested over €15 billion to date.

Media Contact:
Debra Dekelbaum
Senior Manager, US PR, M-Files
Debra.Dekelbaum@m-files.com

(972) 516-4210 ext. 272