Almawave Group: The Data Appeal Company acquires 70% of Mabrian Technologies S.L.

ALMAWAVE GROUP: THE DATA APPEAL COMPANY

ACQUIRES 70% OF MABRIAN TECHNOLOGIES S.L.

Closing takes place for the acquisition of the controlling stake in the Spanish company involved in the development of innovative AI KPI's based data analytics and decision intelligence solutions for Travel and Destination Intelligence

This transaction further expands the Group's offerings in the data analysis and location

intelligence segment through artificial intelligence, consolidating it as one of Europe's leaders

Rome, December 21, 2023 - Almawave, an Italian company listed on the Euronext Growth

Milan (Ticker: AIW), a Data & Artificial Intelligence player, part of the Almaviva Group,

announces that today it has finalized through its subsidiary The Data Appeal Company S.p.A. the acquisition of 70% of the share capital of Mabrian Technologies S.L. (hereinafter "Mabrian"), a Spanish company specializing in the development and roll out of Travel and Destination Intelligence solutions and focused on innovative AI KPI's data analytics and decision intelligence solutions. The closing took place upon the fulfillment of certain conditions precedent within the contract.

Statements

Valeria Sandei, Chief Executive Officer of Almawave and Chairperson of The Data Appeal Company, stated "I am pleased to have concluded this first international M&A transaction, welcoming Mabrian into our Group and assuming the role of Chairperson. This team is an expression of expertise, innovation and quality in a strategic sector in which we want to consolidate our international positioning. The quick closing of the transaction allows us to begin to collaborate, and together face 2024 stronger and more aware and determined as we pursue our growth goals."

Mirko Lalli, Chief Executive Officer of The Data Appeal Company, added: "This transaction is an important step that allows us to consolidate the market for tourism data and Destination Intelligence tools; we also aim to accelerate our trajectory, with the goal of delivering synergies that will increasingly position us as a global innovator."

Santi Camps, Chief Executive Officer of Mabrian, commented: "We are very pleased to join the Almawave Group and to start collaborating with The Data Appeal Company on building up a project that can lead the Tourism Intelligence market globally. We are confident that we will be able to secure a progressively stronger position in a rapidly expanding market."

Transaction overview

The Data Appeal Company paid cash consideration of approx. Euro 3.6 million, determined on the basis of an enterprise value of Euro 6.1 million, and on the assumption that the key managers would remain on in the management of the company. Thetransaction was funded entirely through the use of Almawave Group resources and the consideration will be subject to adjustment based on the Net Financial Position on the closing date, which, by virtue of existing contractual agreements and as is usual in such transactions, will be verified subsequent to such.

The contract also provides for the possible recognition of an earnout, amounting to a maximum of Euro 1.5 million, upon the achievement of specific outstanding economic- financial performance indicators, to be recognised following the approval of the 2023 financial statements.

The remaining 30% of Mabrian's capital may be acquired through an option exercisable in 2026, subject to the fulfillment of certain predefined operating and financial conditions.

This press release is available on Almawave's website at www.almawave.it, in the Investor Relations section

Almawave profile

Almawave S.p.A. is an Italian company, listed on the Euronext Growth Milan (AIW.MI) market and engaged in the field of Data & Artificial Intelligence. The Group offers proprietary technologies, solutions and services which realize AI and data's potent ial in the digital evolution of companies and public administrations. It boasts more than 300 domestic and international clients, in sectors including Government, Finance, Energy & Utilities, Tourism and Healthcare, operating directly and through partners.

The Almawave team consists of more than 400 professionals. The Group uses AI technology labs dedicated to developing products , platforms and vertical solutions targeting various market segments. Almawave's technological asset base, conceived and built as a model of natural experience in the interaction between man and machine, can interpret text and voice in over 40 languages, interacting in multi-channel mode, analysing data and information with a view to knowledge development and automation to support decisions. Its skill centers also allow the potential of data to be achieved in complex contexts, combining expertise on key market frameworks in areas such as Data Management, Machine Learning, Location Intelligence, and the knowledge of business processes in related vertical sectors. The Almawave scope, part of the Almaviva Group, includes the companies SisTer, The Data Appeal Company, Obda Systems, Almawave do Brasil, and Almawave Usa. www.almawave.it

The Data Appeal Company - Almawave Group

The Data Appeal Company, through a proprietary algorithm based on artificial intelligence, machine learning and semantic analysis collects, measures and analyzes all feedback posted online, combining it with geographic and contextual data, offering the re gions and enterprises the opportunity to optimise the business's potential, gain in-depth market knowledge and establish a competitive advantage. The Data Appeal Company SpA (formerly Travel Appeal) has belonged to the Almaviva Group since 2022. The company 's mission is to simplify the use and understanding of data to help companies and tourist destinations make effective and inform ed decisions. www.datappeal.io

For further information:

Almawave contacts (External press office):

Thanai Bernardini, mob. [phone], [e-mail]

Alessandro Bozzi Valenti, mob. [phone],[e-mail]

Almawave IR Contacts:

Davide Diotallevi, tel. [phone]

IR Advisor Contacts (outside company):

Mara Di Giorgio, mob. [phone], [e-mail]

Euronext Growth Advisor Contacts:

Banca Mediolanum, tel. [phone], [e-mail]

Almaviva Group contacts:

Ilaria De Bernardis, Media Relations Manager, mob. [phone], [e-mail] Scaringella, Media Relations, tel. [phone], mob. [phone], [e-mail]