Innovatec S p A : PR Innovatec - Pietro Colucci New CEO Innovatec

PRESS RELEASE

INNOVATEC S.p.A.

STRENGTHENED THE GROUP'S STRATEGIC DEVELOPMENT MANAGEMENT TEAM:

PIETRO COLUCCI WILL LEADS THE GROUP AS CEO

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MATTEO MARINI RESPONSIBLE FOR THE DEVELOPMENT OF THE ENERGY EFFICIENCY &

RENEWABLES BUSINESS UNIT

ROBERTO MAGGIO GENERAL MANAGER

RAFFAELE VANNI GROUP CFO

Milan, 12 September 2023. Innovatec S.p.A. ("Innovatec", "Company"), (BIT: INC, ISIN: IT0005412298), listed on the Euronext Growth Milan market ("EGM"), announces that, as part of the process of strengthening the Company's management team, the Board of Directors met today unanimously co-optedand appointed, with immediate effect, Mr. Pietro Colucci as the new Group CEO, granting him all executive powers. Mr. Matteo Marini, who today handed over all CEO powers to the Board, remains a director, focusing more on the development of the Energy Efficiency & Renewable Energies business unit together with Mr. Roberto Maggio, who today resigned from his position as director and became General Manager of the Group. Mr. Raffaele Vanni returns to the role of Group CFO and as per consequence, Andrea Cederle resigned for personal reasons. The CFO position in Innovatec was already held by Raffaele Vanni from 2013 to 2019. The manager will continue to hold the position of Investor Relator of the Group.

"Pietro Colucci's return to the operational leadership of Innovatec represents a fundamental step in the company's development project," commented Elio Cosimo Catania, Innovatec's Chairman. "Pietro Colucci's undisputed skills as an entrepreneur and manager, recognised and appreciated in over forty years of activity, make him one of the leading figures in the environment and energy sector in our country. The management team is therefore strengthened, thanks also to the continuity that Matteo Marini, the previous Group CEO, will ensure in the Energy Efficiency sector, and the contribution of Roberto Maggio, Group CEO, and the new Cfo Raffaele Vanni, with long experience in the sector and in the group. I am convinced that these choices represent a further guarantee of satisfaction for customers, investors and the communities in which we operate".

Mr. Pietro Colucci, a leading figure in the Green Economy sector in Italy, is a major shareholder of the Innovatec Group, through the family holding company Sostenya Group S.r.l., of which he holds 51% of the share capital. To date, Pietro Colucci indirectly owns - through Sostenya Group S.r.l. - n. 43,741,920 Innovatec shares (45.35% of the Company's share capital).

Pietro Colucci, as Managing Director, qualifies as Executive Director (non-independent) and CEO, following the release of all organisational responsibilities and proxies already assigned to Matteo Marini on 30 January 2023. The Board of Directors, on the basis of the information provided, has also ascertained that there are no causes of ineligibility and incompatibility and that the profile of the new CEO meets the requirements of honourableness established by the regulations in force.

Mr. Pietro Colucci will remain in office until the next Shareholders' Meeting of the Company and will not receive any remuneration for the proxies conferred.

Innovatec S.p.A.
Investor Relations	Ufficio Stampa
Raffaele Vanni	Alberto Murer
e-mail: [e-mail]	[e-mail]
Tel. [phone]	Tel. [phone]
Fax. + 39 02/87211707	Fax. [phone]
	www.innovatec.it

PRESS RELEASE

The curriculum vitae of the new Director, together with the declaration of acceptance of office and possession of the legal requirements for assuming the office, is available on the Company's website, at the following link https://www.innovatec.it/corporate-governance/cda/

This press release is available on the Company's website www.innovatec.it

This document is an English translation from Italian. The Italian original shall prevail in case of difference in interpretation and/or factual errors.

For further information:

COMPANY	EURONEXT GROWTH ADVISOR	SPECIALIST
INNOVATEC	EnVent Capital Markets Ltd	BANCA FINNAT
Via Giovanni Bensi 12/5	UK42 Berkeley Square - London W1J 5AW	Piazza del Gesù, 49
20152 Milano		00186 Roma
Raffaele Vanni	Paolo Verna
Email: [e-mail]	Email : [e-mail]
Tel: [phone]	Tel: + 39 06 896841	Tel: [phone]
Fax: [phone]	Fax: [phone]	Fax: + 39 06 6784950

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Innovatec S.p.A., an investment holding company listed on Euronext Growth Milan (BIT: INC, ISIN: IT0005412298) is active in the fields of energy efficiency and environmental sustainability. In a competitive environment where social responsibility and environmental sustainability issues are becoming increasingly central, Innovatec aims to strengthen its resilience and become a leading player in sustainability through the responsible and efficient use of resources by linking energy and renewable energy efficiency with the materials cycle, recovery and recycling and waste. Innovatec operates at 360 degrees, offering innovative end-to-end solutions that respond in a customised and comprehensive manner to its customers' needs in the circularity and sustainability business. With a proposal that integrates energy efficiency, renewables and environmental services from industrial waste recovery to recycling, Innovatec provides concrete support to other companies in improving their circularity and reducing their carbon footprint by aiming for compatibility between development and land preservation.

Innovatec S.p.A.
Investor Relations	Ufficio Stampa
Raffaele Vanni	Alberto Murer
e-mail: [e-mail]	[e-mail]
Tel. [phone]	Tel. [phone]
Fax. + 39 02/87211707	Fax. [phone]
	www.innovatec.it