Azimut Holding: 2021 Net Profit guidance at 350 million euro

PRESS RELEASE

Azimut Holding: 2021 Net Profit guidance at 350 million euro

Strategic lines: focus on the real economy / private markets in Italy and the US beside growth in emerging and international markets

Milan, 14 January 2021

Today marks the end of the three-day annual convention of the Azimut Group, where more than 2,200 financial advisors, managers and employees attended in a full virtual mode. During the event, the Company also announced preliminary 2020 figures (including a Net Profit range of 375-415million euro) as well as the main projects that will be implemented during 2021. The Group also provides a 2021 Net Profit guidance of 350 million euro, under normal market conditions.

The main commercial initiatives are based on the following three pillars:

• Real Economy: The Group will continue its commitment to strengthen and develop the skills of financial advisors on private markets products, also through a new training platform as well as mapping of the newly acquired competencies. The goal is to further raise the expertise and know-howof financial advisors and at the same time spread a greater financial culture and knowledge among final investors on such topics.
• SME Partnerships:The Group will launch marketing initiatives in cooperation with portfolio companies present in the various real economy funds managed by Azimut, to promote and favour the Group's products and services towards customers. This activity will be towards the current 17,000 clients who invested in our closed end funds. Furthermore, the Group will strengthen it's corporate advisory services within the Azimut Enterprises vehicle.
• Azimut Life: introduction of a new proprietary model on goal-basedadvisory, also thanks to the reorganization of unit linked products of Azimut Life that took place in 2020. Financial advisors will be able to offer their clients a reporting allowing them to protect large family projects through insurance planning, also with the support of a new dedicated commercial team.

On the product side, the following new initiatives have been announced with the help of the Global Asset Management team:

• ELTIF Peninsula Tactical Opportunities: pan-European Private Equity fund dedicated to private and institutional clients with the advisory of Peninsula, allowing a further expansion of our private equity product range. Focus on transactions with medium-large target companies thanks to the experience and co-investment network of our partner Peninsula.
• ELTIF PIR ALI Crowd: Venture Capital fund that co-invests in the best Venture projects with funding channeled through the Mamacrowd platform, leader on the Italian market.
• Digital Asset Management:

1. Digital Asset Opportunities RAIF: first Italian fund (and second in Europe) investing in cryptocurrencies, digital assets and equity of fintech or blockchain-driven companies.

1. Tokenization: issue of the Azimut token in cooperation with the Swiss bank Sygnum. First digital
   securitization of a financial asset of an asset manager in Europe: loan portfolio with state guarantee generated by Borsa del Credito with a liquidity profile that is supported by the "negotiability" of the token within a digital market place.

1. Launch of the "Beewise" investment app:aiming to cover market segments that are not yet served by the Group, such as super retail or low affluent. Beewise will have a high technological content that embraces investment management, operations and distribution thanks to an integration of Artificial Intelligence (A.I.), Machine Learning (M.L.) and Blockchain technology. Initially offering 5 thematic portfolios whose asset allocation integrates A.I. and M.L. on the Group's product range.

• Launch of individual managed portfolios and advisory services from Luxembourgwith the launch of a new product offering that crystallizes the Group's asset management competencies from the Global Team for the commercial development in key global markets in which we operate.

Giorgio Medda, Chief Executive Officer and Global Head of Asset Management of the Group, comments: "In 2021, we

outline the Group's new product platform through 4 verticals: Funds (private and public), Discretionary and Advisory,

Life & Pension and Digital Asset Management. The development of the commercial offer to individual and institutional clients in Italy and abroad integrates the skills of 120 portfolio managers in our 18 investment hubs, managing more than 250 strategies amongst Equity, Fixed Income, Allocation, Alternative and Islamic. The net weighted average performance of the year above industry, demonstrates the tangible value of the multiple perspectives acquired thanks to the Group's global proprietary team".

Paolo Martini, Chief Executive Officer and General Manager of the Group, comments: "In a very complex environment like the current one, we want to reaffirm the central role of financial advisors who help clients every day in facing the new world of investments, guiding them with competencies and experience towards solutions and portfolios capable of creating value over time. Such activity also plays an important social role with concrete support to the growth of Italian companies and development of new jobs, especially thanks to the Azimut Libera Impresa initiative. All of this is the result of our ability to innovate, and if we include the new products set to launch, our financial advisors will have the broadest ELTIF product offering in the Italian retail market, with five different solutions. Finally, thanks to our new infrastructure fund -Infrastruttureper la Crescita ESG- we are also supporting the Italian system with the creation of new social infrastructures. The fund has already reached its first closing in January with over 200 million euro and has already identified its first investments that will meet the needs of both investors as well as for the Country."

Pietro Giuliani, Chairman of the Group, comments: "We are convinced that these initiatives, together with the ones we introduced two days ago on the synthetic bank platform and the expansion of the ALTO products, will bring us to exceed once again our targeted net profit of 350 million euro in 2021, under normal market conditions."

Azimut is Italy's leading independent asset manager (active since 1989). The parent company Azimut Holding was listed on the Italian stock exchange on 7 July 2004 (AZM.MI) and, among others, is a member of the main Italian index FTSE MIB. The shareholder structure includes over 2,000 managers, employees and financial advisors bound by a shareholders' agreement that controls ca. 21.8% of the company. The remaining is free float. The Group comprises various companies active in the sale, management and distribution of financial and insurance products, with Registered Offices mainly in Italy, Luxembourg, Ireland, China (Hong Kong and Shanghai), Monaco, Switzerland, Taiwan, Brazil, Egypt, Singapore, Mexico, Australia, Chile, USA, UAE and Turkey. In Italy, Azimut Capital Management SGR sells and manages Italian mutual funds, Italian alternative investment funds, as well as being active in the discretionary management of individual investment portfolios. Furthermore, Azimut Capital Management SGR, following the demerger by incorporation of Azimut Consulenza SIM, distributes Group and third party products in Italy via a network of financial advisors while Azimut Libera Impresa focuses on the Alternatives business. Overseas main operations are Azimut Investments (formerly AZ Fund Management, founded in Luxembourg in 1999), which manages the multi strategy funds AZ Fund 1 and AZ Multi Asset and the Irish Azimut Life DAC, which offers life insurance products.

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