Italiaonline S p A : Determination of the joint procedure price

PRESS RELEASE

DETERMINATION OF THE JOINT PROCEDURE PRICE

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Milan, 25 October 2019 - Sunrise Investments S.p.A. ("Sunrise") informs that, in relation to the voluntary tender offer on the entirety of the ordinary shares of Italiaonline S.p.A. settled on 18 September 2019 (respectively, "Italiaonline" and the "Voluntary Tender Offer on Ordinary Shares"), CONSOB has set at Euro 2.82 the price per ordinary share that Sunrise will have to pay to exercise of the squeeze-out right pursuant to Article 111 of Legislative Decree no. 58/1998 (the "Italian Financial Act"), thereby fulfilling the obligation to purchase pursuant to Article 108, paragraph 1 of the Italian Financial Act (the "Joint Procedure"). Such consideration is therefore equal to the purchase price of the Voluntary Tender Offer on Ordinary Shares.

Sunrise will announce to the market the effective date of the mandatory conversion approved by the shareholders meetings of Italiaonline on 2 October 2019, as well as the effective date of the Joint Procedure and the consequent delisting of Italiaonline ordinary shares, to be agreed upon with Borsa Italiana S.p.A. within the terms provided by applicable law.

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Communication issued by Sunrise Investments S.p.A. and issued by Italiaonline S.p.A. upon request

of the same Sunrise Investments S.p.A.