Abitare In S p A : Interim report as at June, 30 2022

STILISTI URBANI - MADE IN MILAN

INTERIM DIRECTORS' REPORT AS AT 30 JUNE 2022

MANAGEMENT AND CONTROL BODIES ........................................................................................	3
GROUP STRUCTURE AS AT 30 JUNE 2022 ......................................................................................	4
INTRODUCTION............................................................................................................................	5
ABITARE IN GROUP'S INTERIM REPORT ON OPERATIONS .............................................................	7
Highlights.....................................................................................................................................	8
Pipelines under development.....................................................................................................	10
Group operating performance in the period ending 30 June 2022 ...............................................	12
Reclassified consolidated income statement ..............................................................................	12
Reclassified consolidated statement of financial position ...........................................................	14
Financial debt ............................................................................................................................	15
Ratios ........................................................................................................................................	16
Main activities and events in the period .....................................................................................	17
Events after 30 June 2022...........................................................................................................	17
Outlook .....................................................................................................................................	18
Research & Development activities ............................................................................................	18
Overview of the main pending litigations ...................................................................................	18
Other information......................................................................................................................	18
Consolidated Statement of Financial Position.............................................................................	19
Consolidated Income Statement ................................................................................................	20
Consolidated Statement of Comprehensive Income....................................................................	21
Statement of Changes in Equity..................................................................................................	22
Consolidated Statement of Cash Flows (indirect method) ...........................................................	23
DECLARATION PURSUANT TO ARTICLE 154 BIS PARAGRAPH 2 OF LEGISLATIVE DECREE ..............	24

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MANAGEMENT AND CONTROL BODIES

Board of Directors

Luigi Francesco Gozzini - Chairman and Chief Executive Officer

Marco Claudio Grillo - Chief Executive Officer

Mario Benito Mazzoleni - Independent Board member

Giuseppe Carlo Vegas - Independent Board member

Nicla Picchi - Independent Board member

Eleonora Reni - Board member

Board of Statutory Auditors

Ivano Passoni - Chairman

Marco Dorizzi - Standing statutory auditor

Matteo Ceravolo - Standing statutory auditor

Fanny Butera - Substitute statutory auditor

Mariateresa Giangreco - Substitute statutory auditor

Auditing firm

BDO Italia S.p.A.

Manager in charge of preparing the accounting documents

Cristiano Contini

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Group structure as at 30 June 2022

Abitare in Maggiolina S.r.l.

Milano City Village S.r.l.

Trilogy Towers S.r.l.

Palazzo Naviglio S.r.l.

Savona 105 S.r.l.

Porta Naviglio Grande S.r.l.

TheUnits S.r.l.

Lambrate Twin Palace S.r.l.

Homizy S.p.A.

Abitare In Development 3 S.r.l., Abitare In Development 4 S.r.l., Abitare In

Development 5 S.r.l., Abitare In Development 6 S.r.l, Abitare In Development 7

S.r.l. , Milano Progetti S.r.l., Richard S.r.l., Mivivi S.r.l., My City S.r.l., Smartcity

S.r.l., City Zeden S.r.l., Volaplana S.r.l., Deametra S.r.l., Immaginare S.r.l.,

Creare S.r.l., Hommi S.r.l., Housenow S.r.l., Accursio S.r.l., Citynow S.r.l., Ziro

S.r.l.

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INTRODUCTION

On 18 March 2016, Legislative Decree no. 25 of 15 February 2016 (the "Decree"), transposing Directive 2013/50/EU amending Directive 2004/109/EC on information about listed issuers (so-called Transparency Directive) came into force. The Decree eliminated the obligation to publish the interim directors' report in order to reduce administrative charges for listed issuers and to mitigate the focus on short-term results by issuers and investors.

With its notice of 21 April 2016, Borsa Italiana specified that for issuers with shares listed in the Star segment, the provisions of the Stock Exchange Regulations on the publication of the interim directors' report and, in particular, Article 2.2.3, paragraph 3, of the Stock Exchange Regulations, will continue to apply.

Consequently, this interim directors' report has been prepared to follow on from the previous interim reports, as indicated by the existing Article 154-ter, paragraph 5, of the Consolidated Law on Finance ("TUF"). Therefore, the provisions of the international accounting standard on interim financial reporting (IAS 34 "Interim financial reporting") are not adopted.

The International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and the related interpretations issued by the International Financial Reporting Interpretations Committee (IFRIC), endorsed by the European Commission and in force at the time of approval of this Report, have been applied for the valuation and measurement of the accounting figures included in this Interim Directors' Report. The accounting standards and criteria are consistent with those used for the preparation of the financial statements at 30 September 2021, which should be referred to for further details.

In view of the fact that Abitare In S.p.A. (hereinafter also "Abitare In") holds controlling interests, the Interim Directors' Report has been prepared on a consolidated basis. All the information included in this Report relates to the consolidated data of the Abitare In Group.

The Interim Directors' Report at 30 June 2022 was approved by the Board of Directors on 8 August 2022.

The subsidiaries' quarterly reports, used for the preparation of this Consolidated Interim Directors' Report, were reclassified for consistency with the parent company.

The data in this document are expressed in Euro, unless otherwise indicated.

The scope of consolidation as at 30 June 2022 has not changed with respect to 30 September 2021.

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