Trevi Finanziaria Industriale : PRESS RELEASE, END OF THE CAPITAL INCREASE OFFER PERIOD - MAY 18, 2020

END OF THE CAPITAL INCREASE OFFER PERIOD

SUBSCRIPTIONS FOR € 45.842.399, 43 BEFORE THE AUCTION OF THE UNOPTED RIGHTS

UNEXERCISED OPTION RIGHTS WILL BE OFFERED ON THE STOCK EXCHANGE

FROM MAY 21, 2020 CHANGE TO THE COMPANY CALENDAR

Cesena, 18 May 2020 - Trevi - Finanziaria Industriale S.p.A. ("Trevifin" or the "Company") announces that today is the last day of the period set for exercising the option rights (the "Option Rights") relating to the option offer (the "Offer Period") to shareholders for a total of No. 13,000,118,907 newly issued ordinary shares of the Company, with no par value, having the same characteristics as those in circulation and regular entitlement (the "Offer Shares").

During the Offer Period (from 4 May 2020 to 18 May 2020, inclusive), following the exercise of No. 580,357 Option Rights, a total of No. 4,584,239,943 Shares on Offer have been subscribed, for a total value of 45,842,399.43 Euros.

We also recall that, as already communicated on May 15, 2020, the institutional shareholders of FSI Investimenti S.p.A. and Polaris Capital Management, LLC have exercised all the option rights due to them in the context of the offer in option for a total of No. 13,000,118,907 ordinary Trevifin shares, by subscribing and releasing all the related shares for a total value of approximately Euro 35.8 million, in compliance with the subscription obligations assumed by the same and pursuant to the investment agreement signed on August 5, 2019.

At the end of the Offer Period, No. 1,065,436 Option Rights are not exercised, which relate to the subscription of No. 8.415.878.964 Shares on Offer, for a total value of Euro 84,158,789.64.

The Company, pursuant to Art.2441, paragraph 3, of the Italian Civil Code, will offer unexercised Option Rights (the "Unexercised Rights") on the Stock Exchange, through Equita SIM SpA, in the sessions of 21, 22, 25, 26 and 27 May 2020 (the "Offer on the Stock Exchange"), unless the offer is closed early in the event of the full sale of the unexercised rights.

During the first session, the entire amount of the Unexercised Rights will be offered; in the sessions following the first, the Unexercised Rights that are not placed in the previous sessions will be offered. The purchased Unexercised Rights may be used for the subscription, at the price of Euro 0.01 per each Offer Share, of No. 7,899 Shares on Offer every No. 1 Unexercised Right held.

The exercise of the Unopted Rights purchased as part of the Stock Exchange Offer and, consequently, the subscription of the Offer Shares must be carried out, under penalty of forfeiture, no later than May 28, 2020, at the authorized intermediaries participating in the centralized management system of Monte Titoli SpA, except in the event that the Offer on the Stock Exchange closes early, following the sale of all the Unexercised Rights in the sessions of 21 and 22 May 2020.

Payment date in the event of early closure of the Stock Exchange Offer

In the event of early closure of the Offer on the Stock Exchange, the exercise of the Unopted Rights purchased as part of the aforementioned, must be made in advance, under penalty of forfeiture, by and no later than the third open trading day following the communication of the anticipated closure and therefore:

• no later than May 26, 2020, in the event of early closure on May 21, 2020;

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

• no later than May 27, 2020, in the event of early closure on May 22, 2020.

In any case, it is understood that, if the Unexercised Rights offered are not fully sold in the first trading sessions indicated above, the deadline for the subscription of the Shares on Offer will remain on May 28, 2020.

The Shares on Offer resulting from the exercise of the Unopted Rights will be credited to the accounts of authorized intermediaries belonging to the Monte Titoli S.p.A. centralized management system at the end of the settlement phase of the last day of exercise of the Unopted Rights and they will therefore be available on the same date.

Please note that the subscription commitments made by FSI Investimenti S.p.A. and Polaris Capital Management, LLC, as known to the market and described in detail in the Information Prospectus, amount in total to approximately Euro 77.5 million and also relate to the subscription, up to the maximum agreed amounts, of the Trevifin shares on offer that may result not subscribed at the conclusion of the Stock Exchange Offer.

For further information, please refer, inter alia, to the press releases dated 23 April 2020, 29 April 2020 and 15 May 2020 and to the Prospectus, available on the Company's website www.trevifin.com, respectively in the "Investors Relations/Press Releases" section" and in the "Governance/Capital Increase 2020" section).

Corporate Calendar

Pursuant to Article 2.6.2, paragraph 1, letter b), of the Regulations of the markets organized and managed by Borsa Italiana SpA, the Company announces the following modification to the calendar of corporate events for the year 2020 communicated last 31 January 2020

• Friday 29 May 2020 - Board of Directors for the examination of the Separate Financial Statements and Consolidated Financial Statements as at 31 December 2019.
• Wednesday 29 June 2020 at 11.00 am - at the registered office in Via Larga 201, 47522 Cesena (FC) 1st call: Shareholders' Meeting: approval of the financial statements as at 31 December 2019.
• 2nd Call, always at the registered office and at the same time, Thursday 30 June 2020.

The date of Tuesday 22 September 2020 remains confirmed for the meeting of the Board of Directors aimed at examining the Half-Yearly Financial Report at 30 June 2020.

In case of changes in the dates contained in this calendar of corporate events, timely notification will be given.

With reference to the provisions of Article 82-ter of the Issuers Regulation adopted with the Consob Resolution No.11971 of May 14, 1999 and subsequent amendments, we remind you that on December 30, 2019 the Company communicated its choice, on a voluntary basis, to stop communicating additional periodic financial information to the public, in addition to that required by law

***

About Trevi

Trevi Group is a worldwide leader in the field of soil engineering (special foundations, tunnel excavation, soil consolidation) and the building and marketing of special rigs and equipment relevant to this engineering sector; the Group is also active in the water drilling sector, both in the production of plant and the supply of services, and it also builds automated underground car parks. The Group was established in Cesena in 1957 and has over 30 branches along with a presence in over 80 countries. Its success is due to the vertical integration of the main divisions making up the Group: Trevi, the division that supplies special services in the field of soil engineering and Soilmec, the division that produces and develops plant and machinery for soil engineering.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

The parent company (Trevi-Finanziaria Industriale S.p.A.) has been listed on the Milan stock exchange since July 1999.

For further information:

Investor Relations: Massimo Sala -e-mail:[e-mail]

Group Communications Office: Franco Cicognani - e-mail:[e-mail]- T. +39 /0547 319503

Press Office: Community - Strategic communication advisers - T. [phone]

Auro Palomba [e-mail]

Roberto Patriarca - T. [phone] - Roberto.patriarca@communitygroup

***

IMPORTANT REGULATORY NOTICE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

This communication and the information contained herein does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in the United States, Australia, Canada or Japan or any other jurisdiction where such an offer or solicitation would require the approval of local authorities or otherwise be unlawful (the "Other Countries"). Neither this document nor any part of it nor the fact of its distribution may form the basis of, or be relied on in connection with, any contract or investment decision in relation thereto. The securities referred to herein have not been registered and will not be registered in the United States under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or pursuant to the corresponding regulations in force in the Other Countries. The securities may not be offered or sold in the United States unless such securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available. Trevi-Finanziaria Industriale S.p.A. does not intend to register any portion of any offering in the United States.

This publication constitutes neither an offer to sell nor a solicitation to buy or subscribe for securities. This communication has been prepared on the basis that any offer of securities in any Member State of the European Economic Area ("EEA") which has implemented the Prospectus Regulation (each, a "Relevant Member State"), will be made on the basis of a prospectus approved by the competent authority and published in accordance with the Prospectus Regulation (the "Permitted Public Offer") and/or pursuant to an exemption under the Prospectus Regulation from the requirement to publish a prospectus for offers of securities. Any public offering will be conducted in Italy pursuant to a prospectus, duly authorized by CONSOB in accordance with applicable regulations.

Accordingly, any person making or intending to make any offer of securities in a Relevant Member State other than the Permitted Public Offer, may only do so in circumstances in which no obligation arises for the Company to publish a prospectus pursuant to Article 3 of the Prospectus Regulation or supplement a prospectus pursuant to Article 23 of the Prospectus Regulation, in each case, in relation to such offer. The expression "Prospectus Regulation" means Regulation (EU) 2017/1129 (this Regulation and amendments together with any delegated act and implementing measures). This document is not a prospectus for the purposes of the Prospectus Regulation. A prospectus prepared pursuant to the Prospectus Regulation will be published in the future. Investors should not subscribe for any securities referred to in this document except on the basis of the information contained in any prospectus.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION