Mittel S p A : Fulfilment of the condition precedent for the sale of the majority stake held in the share capital of Gruppo Zaffiro S.r.l.

Registered Office - Via Borromei nr. 5

Share capital of € 87,907,017 fully paid-in

Listed in the Company Register of Milan under nr. 00742640154

www.mittel.it

PRESS RELEASE

Fulfilment of the condition precedent for the sale of the majority stake held in the share capital of

Gruppo Zaffiro S.r.l.

Milan, March 31, 2023

With reference to the sale transaction of the majority stake (equal to 60%) held in the share capital of Gruppo Zaffiro S.r.l. (Shareholding), already disclosed to the market by means of notices dated February 3, 2023 and March 16, 2023, Mittel S.p.A. hereby informs to have received today a notice of the fulfilment of the condition precedent from Sarafin S.p.A.

In particular, Sarafin S.p.A. announced today to have entered into an Investment Agreement with Eurizon Capital SGR S.p.A. (EC), as a management company of the Italian reserved closed-end alternative investment fund (AIF) named Eurizon Iter and of the non-reservedclosed-end AIF, authorised by the Bank of Italy as European Long-Term Investment Fund (ELTIF), named Eurizon Iter Eltif. The Investment Agreement provides that the purchase of the Shareholding will be carried out by Sarafin S.p.A for 45% and by EC for the remaining 15%.

The closing is expected to take place within 13 business days from the positive outcome of the customary antitrust procedures; at the closing, Mittel S.p.A. will collect a lump sum amount of: (i) Euro 42 million for the sale of the Shareholding; and (ii) an amount equal to Euro 25 million for the sale of all receivables under shareholder loan agreements claimed by Mittel S.p.A from Gruppo Zaffiro S.r.l, plus the related interest accrued up to the date of completion of the sale transaction.

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MITTEL S.p.A.

Contacts

MITTEL S.p.A.

Pietro Santicoli - Investor Relator

tel. [phone], fax [phone], [e-mail]

Moccagatta Associati (Media)

Tel. [phone], [e-mail]