Davide Campari Milano N : Unrated 7-year bond due 2027 admitted to trading on the ExtraMOT PRO

Davide Campari-Milano N.V. successfully placed €550 million unrated bond issue on the Euro market

• The bond issue, for a notional amount of €550 million, has a 7-year maturity and pays a fixed annual coupon of 1.25%. The effective gross yield to maturity is 1.2860%. The issue price is 99.76% and the spread over the midswap is 165 basis points
• In a period characterised by global macroeconomic volatility due to the COVID-19 emergency, the response was very positive among international institutional investors, proving the high quality of the Issuer profile
• As a result of the strong interest from investors, with total orders raised of approx. €2.1 billion, or an oversubscription of above 4 times, the initial offer of €500 million was increased to €550 million
• This transaction, which marks a successful return to the unrated Eurobond market, leveraging favourable credit market conditions, enables Campari Group to lengthen its overall debt maturity profile and lower its average cost of gross debt

Milan, 29 September 2020-Davide Campari-MilanoN.V. successfully completed today the placement of an unrated 7- year Eurobond issue targeted at institutional investors. The offering is of €550 million in principal amount and pays a fixed annual coupon of 1.25%. The effective gross yield to maturity is 1.2860%. The issue price is 99.76% and the spread over the midswap is 165 basis points.

The notes are due on 6 October 2027 and will be issued with denominations of €100,000 and integral multiples of €1,000 up to and including €199,000. Application has been made for the notes to be listed on the Official List and admitted to trading on regulated market of the Luxembourg Stock Exchange. Settlement is expected on Tuesday, 6 October 2020.

As a result of the strong interest from investors, with total orders raised of approx. €2.1 billion, or an oversubscription of above 4 times, the initial offer of €500 million was increased to €550 million.

With regards to the distribution, Campari Group's transaction attracted a geographically well diversified base of European high-qualityinvestors. The bonds were allocated to investors mostly based in the United Kingdom, Italy, Germany, Switzerland and France.

Since its inaugural issue in 2009, Campari Group has cumulatively raised €2.3 billion funds in the unrated Eurobond market, including today's issue, confirming its positive long-lastingrelationship with the debt capital markets.

Bob Kunze-Concewitz, Chief Executive Officer commented: 'In a period characterised by global macroeconomic volatility due to the COVID-19emergency, the transaction has been very successful. Once again, the bond issue was very well received by international high-qualityinvestors, reflecting Campari Group's excellent business and financial profile as well as strong reputation in the capital markets. With this transaction, Campari Group successfully returns to the unrated Eurobond market, at more favourable conditions compared with the previous debt issues, allowing the Group to lengthen its overall debt maturity profile and lower its cost of gross debt.'.

The proceeds of the issue of the notes will be used by the Campari Group for general corporate purposes and in line with the Group's strategy, including but not limited to the refinancing of existing indebtedness of the Group.

BNP Paribas, Crédit Agricole Corporate and Investment Bank, IMI - Intesa Sanpaolo, UBS AG London Branch and UniCredit Bank AG are acting as Joint Lead Managers and bookrunners for the offer of the notes.

Allen & Overy and Allen & Overy LLP acted as legal advisors to Campari Group and Clifford Chance Studio Legale Associato and Clifford Chance LLP acted as legal advisors to the Joint Lead Managers on this transaction.

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The notes will only be offered and sold outside the United States to institutional investors that are non-U.S. persons under Regulation S and have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act), or any other securities laws. The notes may not be offered or sold in the United States, or to, or for the account or benefit of, US persons absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell the notes or an offer of financial products, nor shall there be any sale of these notes in any state or jurisdiction in which such an offer or sale would be unlawful. No action has been or will be taken to permit a public offering of the notes in any jurisdiction.

This press release is not an offer of securities for sale or an offer of financial products in the United States or any other jurisdiction. The securities of the Issuer may not be offered or sold in the United States or to or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the Securities Act) unless registered under the Securities Act or pursuant to an exemption from such registration. Any offer of securities will be made by means of a prospectus that will contain detailed information about, inter alia, the Issuer and its management.

The offering of the notes has not been registered pursuant to Italian securities legislation. Accordingly, the notes have not been and will not be offered, sold or delivered in Italy except in circumstances which are exempted from the rules on public offerings pursuant to Italian applicable laws and regulations, and the notes may only be offered, sold or delivered in Italy in compliance with all applicable Italian laws and regulations.

In member states of the European Economic Area (including, for these purposes, the United Kingdom) (the "EEA"), this press

release is directed only at persons who are 'qualified investors' within the meaning of Regulation (EU) 2017/1129 (the

'Prospectus Regulation'). This press release is an advertisement and does not constitute a prospectus for the purposes of the Prospectus Regulation. Copies of the final prospectus will, following publication, be available from the website of the Issuer.

This press release is directed only (i) at persons who are outside the United Kingdom, (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended or (ii) at persons falling within Article 49(2) (a) to (d) ('high net worth companies, unincorporated associations, etc.') of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (all such persons together being referred to as 'relevant persons'). This press release must not be acted on or relied on by persons who are not relevant persons. Any investment activity to which this press release relates is reserved for relevant persons only and may only be engaged in by relevant persons.

Relevant stabilisation regulations including FCA/ICMA apply. Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail investors in EEA.

NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW

FOR FURTHER INFORMATION
Investor Relations
Chiara Garavini	Tel. [phone]	Email: [e-mail]
Corporate Communications
Enrico Bocedi	Tel. [phone]	Email: [e-mail]

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ABOUT CAMPARIGROUP

Campari Group is a major player in the global spirits industry, with a portfolio of over 50 premium and super premium brands, spreading across Global, Regional and Local priorities. Global Priorities, the Group's key focus, include Aperol, Campari, SKYY, Grand Marnier, Wild Turkey and Appleton Estate. The Group was founded in 1860 and today is the sixth-largest player worldwide in the premium spirits industry. It has a global distribution reach, trading in over 190 nations around the world with leading positions in Europe and the Americas. Campari Group's growth strategy aims to combine organic growth through strong brand building and external growth via selective acquisitions of brands and businesses.

Headquartered in Milan, Italy, Campari Group operates in 22 production sites worldwide and has its own distribution network in 21 countries. Campari Group employs approximately 4,000 people. The shares of the parent company Davide Campari-Milano N.V. (Reuters CPRI.MI - Bloomberg CPR IM) have been listed on the Italian Stock Exchange since 2001. For more information: http://www.camparigroup.com/en.Please enjoy our brands responsibly.

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