Bologna Airport: The General Shareholders’ Meeting has approved the 2019 financial statements

PRESS RELEASE

AEROPORTO GUGLIELMO MARCONI DI BOLOGNA S.p.A.:

• The General Shareholders' Meeting has approved the 2019 financial statements.
• Approved the allocation of 5% of the Parent Company's net income for the year to the legal reserve and the remaining 95% to the extraordinary reserve.
• Approved the Group's Remuneration Policy.
• Update on traffic performance and results.

Bologna, 30 april 2020 - The General Shareholders' Meeting of Aeroporto Guglielmo Marconi di Bologna S.p.A., which met today, given the Covid-19 emergency, exclusively by videoconference and with mandatory proxy to the designated representative, chaired by Enrico Postacchini, approved today the financial statements of the Company and examined the Group's consolidated financial statements as at December, 31 2019 and the consolidated non- financial statement mandatory under Article 4 of Legislative Decree no. 254/2016.

In details, as already disclosed to the market, in 2019 consolidated revenues amounted to Euro

1. million, with an increase of 9.7% compared to 2018, while consolidated EBITDA was Euro

1. million (+16.1%). Consolidated net profit amounted to Euro 20.9 million (+16.3%).

The Ordinary Shareholders' Meeting, in order to support the financial sustainability and contain the future economic and financial impact of the Covid-19 health emergency and in discontinuity with the practice adopted in recent years, in which the payout was 95%, approved the proposal of the Board of Directors regarding the allocation of the Parent Company's profit for the year

(20.1 million euros):

• to the legal reserve for Euro 1,003,388.93, equal to 5%, based on the Statutory provisions and Article 2430 of the Italian Civil Code;
• the remaining Euro 19,064,389.66 to the extraordinary reserve.

The Shareholders' Meeting also approved the "Remuneration Policy" contained in the Remuneration Report in Section I, pursuant to Article 123-ter, paragraph 3-bis of Legislative Decree no. 58/98 on the remuneration of members of the Board of Directors, general managers and executives with strategic responsibilities, also expressing a positive advisory vote on the "Remuneration paid in 2019" contained in the Remuneration Report in Section II, pursuant to Article 123-ter, paragraph 6 of Legislative Decree no. 58/98.

Bologna Airport is open and operational according to the Interministerial Decree no. 112 of March 12, 2020, but, as a result of cancellations made by airlines, passenger traffic contracted by 28.9% in the first quarter of 2020 compared to 2019.

In April, only one connection to Rome Fiumicino was active by the carrier Alitalia, which was operated daily in the first half of the month and every two days in the second half of the month, with a consequent reduction in traffic of about 99.8% compared to April 2019.

As a result of the drastic reduction in traffic volumes and the closure of almost all retail outlets (shops and restaurants), there was a significant reduction in the Group's aviation and non-

aviation revenues in the first quarter of 2020, with a consequent reduction in operating profitability of around 50% compared with the same period of last year.

Uncertainty regarding the duration of the current health emergency and its future developments make it difficult to predict traffic trends and the Company's economic and financial situation in the coming months, with the Company's economic and financial results expected to deteriorate further in the second quarter of 2020, taking into account the substantial absence of flights in April and a flight schedule still in progress for the month of May.

In order to maintain the financial balance and liquidity required for operational purposes, the Company is working to obtain access to credit lines and bank loans, in order to adequately funding the Group's financial needs.

The economic and financial results for the first quarter of 2020 will be submitted for approval to the Board of Directors Meeting to be held on May 15, 2020.

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Bologna Guglielmo Marconi Airport, classified as a "strategic airport" in the centre-north area of the National Airports Plan prepared by the Ministry of Infrastructure and Transport, in 2019 was the seventh biggest Italian airport by passenger numbers, with 9.4 million passengers (Source: Assaeroporti). Located in the heart of the Emilian food valley and the automotive and packaging industrial districts, the airport has a catchment area of about 11 million inhabitants and around 47,000 companies, with a strong propensity to exports and internationalisation and with commercial expansion policies to Eastern Europe and Asia.

The presence at the airport of some of the largest airlines in Europe along with some of the leading low- cost carriers and the close link with European continental hubs make Bologna Italy's forth airport for global connectivity (Source: ICCSAI - Fact Book 2019).

As for airport infrastructure, the airport has among its strategic objectives in the next few years an important development plan that mainly concerns the expansion of the terminal, particularly in the parts of security checks and gate area. The company's aim is to make Bologna Airport one of the most modern and functional in Italy, an important gateway to the city and region.

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For further informations: www.bologna-airport.it
Investor Relations:
Patrizia Muffato
Chief Financial Officer e Investor
Relations Manager
[e-mail]
Tel: [phone]
Media:
Aeroporto G. Marconi di Bologna Spa	Barabino&Partners
Anna Rita Benassi	Massimiliano Parboni
Responsabile Comunicazione	[e-mail]
e Ufficio Stampa	Tel: [phone]
[e-mail]	Fabio Bartolo
Tel: [phone]	[e-mail]
	Tel.: [phone]