Italiaonline S p A : Results of the supplementary offer on the saving shares

RESULTS OF THE SUPPLEMENTARY OFFER ON THE SAVING SHARES OF ITALIAONLINE S.P.A. PROMOTED BY SUNRISE INVESTMENTS S.P.A.

* * *

Milan, 10 October 2019 - Sunrise Investments S.p.A. (the "Offeror"), following the press release of 27 September 2019, announces the final results of the supplementary tender offer promoted by the Offeror

• on a voluntary basis and as agreed with Borsa Italiana and Consob - in order to grant the saving shareholders who had not tendered their shares to the voluntary tender offer concerning a maximum of No. 6,803 saving shares of Italiaonline S.p.A. (the "Voluntary Tender Offer on the Saving Shares") the possibility of tendering their saving shares of Italiaonline at a price equal to Euro 1,400 per share (the "Supplementary Offer").

The acceptance period of the Supplementary Offer ended on 8 October 2019 at 5.30 p.m. (Italian time).

According to the results communicated by Banca IMI S.p.A. in its capacity as intermediary in charge of the collection of acceptances, it is hereby announced that, at the end of the acceptance period, No. 1,491 Saving Shares, representing 21.917% of the outstanding Saving Shares, have been tendered to the Supplementary Offer.

In light of the foregoing, it should be noted that, taking into account (i) the shares tendered to Supplementary Offer, (ii) the Saving Shares purchased in the context of the Voluntary Tender Offer on Saving Shares, as well as (iii) the Saving Shares purchased by the Offeror outside of the Supplementary Offer and outside of the Voluntary Tender Offer on Saving Shares that - with respect to the shares sold under the agreement with the saving shareholders disclosed to the market on 24 September 2019 - will be settled on 15 October 2019, the Offeror will hold a total of No. 6,161 Saving Shares, equal to 90.563% of the total number of the Saving Shares.

The aggregate consideration for the Supplementary Offer, calculated on the number of Saving Shares tendered during the acceptance period, is equal to Euro 2,087,400.

The Supplementary Offer price, equal to Euro 1,400.00 for each saving share of Italiaonline will be paid on 15 October 2019.

* * *

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.