Cerved S p A : Half-Year Report as of 30 June 2021

(Courtesy translation from Italian)

Cerved Group S.p.A.

Half-Year Report

June 30, 2021

CERVED GROUP S.P.A.

Index
COMPANY DATA .....................................................................................................................................................................................................................................................	3
COMPOSITION OF CORPORATE BODIES.........................................................................................................................................................................................................	4
STRUCTURE OF THE GROUP ................................................................................................................................................................................................................................	5
HALF-YEAR REPORT AT JUNE 30, 2021 .................................................................................................................................................................................................	6
FOREWORD...............................................................................................................................................................................................................................................................	7
ORGANISATIONAL PROFILE OF THE GROUP..................................................................................................................................................................................................	7
GROUP RESULTS AT JUNE 30, 2021 ...................................................................................................................................................................................................................	9
STATEMENT OF FINANCIAL POSITION OF THE CERVED GROUP ...........................................................................................................................................................	16
FINANCIAL DEBT OF THE CERVED GROUP....................................................................................................................................................................................................	17
INFORMATION ON THE COVID-19 PHENOMENON..................................................................................................................................................................................	18
TAKEOVER BID ............................................................................................................................................................................................................................................................	18
SIGNIFICANT EVENTS OF THE FIRST HALF-YEAR ........................................................................................................................................................................................	20
SIGNIFICANT EVENTS OCCURRING AFTER THE END OF THE PERIOD..................................................................................................................................................	22
2021-2023 BUSINESS PLAN OF THE CERVED GROUP............................................................................................................................................................................................	22
BUSINESS OUTLOOK AND FORECASTS OF THE GROUP'S ECONOMIC AND FINANCIAL PERFORMANCE...............................................................................	25
TREASURY SHARES ...............................................................................................................................................................................................................................................	26
PERFORMANCE SHARE PLAN............................................................................................................................................................................................................................	26
TRANSACTIONS WITH RELATED PARTIES .....................................................................................................................................................................................................	29
INFORMATION ABOUT THE "OPT OUT" ALTERNATIVE.............................................................................................................................................................................	29
INFORMATION ABOUT CORPORATE GOVERNANCE ................................................................................................................................................................................	29
HALF-YEARCONDENSED CONSOLIDATED FINANCIAL STATEMENTS .................................................................................................................................................	30
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME .................................................................................................................................................................	31
CONSOLIDATED STATEMENT OF FINANCIAL POSITION .........................................................................................................................................................................	32
CONSOLIDATED STATEMENT OF CASH FLOWS ....................................................................................................................................................................................	33
STATEMENT OF CHANGES IN CONSOLIDATED SHAREHOLDERS' EQUITY ...........................................................................................................................................	34
EXPLANATORY NOTES TO THE HALF-YEARCONDENSED CONSOLIDATED FINANCIAL STATEMENTS......................................................................................................................	35
CERTIFICATION OF THE HALF-YEAR CONDENSED CONSOLIDATED FINANCIAL STATEMENTS PURSUANT TO ARTICLE 81-TER OF
CONSOB REGULATION NO. 11971 OF MAY 14, 1999, AS SUBSEQUENTLY AMENDED AND SUPPLEMENTED ..........................................	73

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CERVED GROUP S.P.A.

COMPANY DATA

Parent Company's Registered Office

Cerved Group S.p.A.

Via Dell'Unione Europea 6A, 6B

San Donato Milanese (MI)

Parent Company's Statutory Data

Subscribed and paid-in share capital of Euro 50,521,142.00

Milan Company Register No. 08587760961

Milan R.E.A. No. 2035639

Tax I.D. and VAT No. 08587760961

Corporate website: company.cerved.com

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CERVED GROUP S.P.A.

COMPOSITION OF CORPORATE BODIES

Board of Directors1	Gianandrea De Bernardis	Executive Chairperson
	Andrea Mignanelli	CEO
	Andrea Casalini	Independent Director
	Mara Anna Rita Caverni	Independent Director
	Fabio Cerchiai	Director and Lead Independent Director
	Sabrina Delle Curti	Director
	Valentina Montanari	Independent Director
	Umberto Carlo Maria Nicodano	Director
	Mario Francesco Pitto	Independent Director
	Aurelio Regina	Independent Director
	Alessandra Stabilini	Independent Director
Control, Risk and Sustainability Committee	Alessandra Stabilini	Chairperson
	Mara Anna Rita Caverni
	Valentina Montanari
Compensation and Nominating Committee	Aurelio Regina	Chairperson
	Umberto Carlo Maria Nicodano
	Fabio Cerchiai
	Valentina Montanari
Related Party Committee	Andrea Casalini	Chairperson
	Umberto Carlo Maria Nicodano
	Marco Francesco Pitto
	Alessandra Stabilini
Board of Statutory Auditors2	Antonella Bientinesi	Chairperson
	Gilberto Comi	Standing Auditor
	Costanza Bonelli	Standing Auditor
	Paolo Baruffi	Alternate Auditor
	Antonio Mele	Alternate Auditor
Independent Auditors	PricewaterhouseCoopers S.p.A.
Corporate Accounting Documents Officer3	Francesca Perulli

1. Elected by the Shareholders' Meeting on April 16, 2019 for a term of office ending with the approval of the statutory financial statements at December 31, 2021.
2. Elected by the Shareholders' Meeting on May 20, 2020 for a term of office ending with the approval of the statutory financial statements at December 31, 2022.
3. Elected by the Board of Directors on April 19, 2019.

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CERVED GROUP S.P.A.

STRUCTURE OF THE GROUP

The Cerved Group is the leading Italian operator in offering credit assessment and management services to banks, companies and professionals. Through Cerved Credit Management Group S.r.l. and its subsidiaries, it is one of the leading independent players in the management of non-performing loans and, through Cerved Rating Agency, one of the leading European rating agencies.

The diagram that follows depicts the structure of the Cerved Group at June 30, 2021:

*Galileo Vehicles: Galileo SPV 10 S.r.l., Galileo SPV 20 S.r.l., Galileo SPV 30 S.r.l., Galileo SPV 40 S.r.l., Galileo SPV 50 S.r.l., Galileo SPV 60 S.r.l., Galileo SPV 70 S.r.l., Galileo SPV 80 S.r.l., Galileo SPV 90 S.r.l., Galileo SPV 100 S.r.l..

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