NB Aurora S A SICAF RAIF : Inside Information / Ad Hoc Information NB AURORA’S BOARD OF DIRECTORS APPROVES THE HALF-YEAR FINANCIAL REPORT AS AT 30 JUNE 2023

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Regolamentata n.

2083-32-2023

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08 Settembre 2023

10:23:50

Euronext MIV Milan

Societa'	:	NB AURORA SA SICAF-RAIF
Identificativo	:	180893
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• NBAURORAN03 - FRANCESCO MOGLIA
• 1.2
• 08 Settembre 2023 10:23:49
• 08 Settembre 2023 10:23:50

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: PR NB Aurora financial data June 2023

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PRESS RELEASE

NB AURORA'S BOARD OF DIRECTORS APPROVES THE HALF-YEAR

FINANCIAL REPORT AS AT 30 JUNE 2023

• NAV as of 30 June 2023 of approximately EUR 320.1 million (+3.2 % compared to the figure as at 31 December 2022)
• Net result as of 30 June 2023 of approximately EUR 9.9 million.
• Successful closing of the voluntary public tender offer on the whole share capital of Finlogic S.p.A. (70 million Euro turnover in 2022), a leading group in the Information Technology sector, which provides complete and innovative solutions for the coding and automatic identification of products through the use of barcodes and RFID technology.
• With reference to the investment held through Fondo Italiano di Investimento, NB Aurora sold its stake in Ligabue S.p.A., an international leader in the food service sector, and almost the entire shares of DBA Group, active in the engineering and ICT sectors and listed on the Milan stock exchange (Euronext Growth Milan).
• As part of the plan to raise new financial resources to continue investing in leading SMEs in their markets, NB Aurora has announced the sale of 49.9% of its equity investment portfolio to the investment fund NB Aurora Co-Investment Fund II, also managed by NB AIFM S.à.r.l., which is fully subscribed by third-party professional investors and which will enable it to realise part of the value generated

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by the portfolio to date and to be able to distribute a dividend in accordance with NB Aurora's rules. The sale is expected to close by October 2023.

Luxembourg, 8 September 2023

The Board of Directors of NB Aurora S.A. SICAF-RAIF ("NB Aurora") met today to examine and approve the Condensed Half-Yearly Financial Report as of 30 June 2023.

NB Aurora, the first permanent capital vehicle listed in Italy on the Euronext MIV Milan - Segmento Professionale ("MIV") market organized and managed by Borsa Italiana S.p.A., aims to invest in unlisted Italian SMEs of excellence, to support their growth and internationalization process, investing with a medium to long term time horizon and supporting entrepreneurs, with patient capital, as their partner, in their strategic and management choices.

As of 30 June 2023

As of 30 June 2023, NB Aurora's NAV was Euro 320,127,617 (+3.2% compared to the figure as at 31 December 2022 and +2.3% compared to the figure as at 31 March 2023), which corresponds to Euro 13.0382 per share calculated as the ratio between the NAV and the total number of shares (24,553,115).

The permanent capital vehicle closed the first half of the year with a net profit of Euro 9,857,041.

Significant events

With reference to the 44.55% stake held in Fondo Italiano di Investimento ("FII"):

• In November 2022, the market sale of the shares of the DBA Group, which is listed on the Milan Stock Exchange Euronext Growth Milan segment, has started. As of 30 June 2023, 1,132,200 shares had been sold (as of today 108 shares remain) for a total consideration of approximately EUR 1.7 million, of which EUR 0.7 million related to the stake held by NB Aurora.
• On 27 April 2023, the indirect equity investment (relative to 13.6%) in Ligabue - a historic group and international leader in the food service business - was sold to the entrepreneur Inti Ligabue. The value of the transaction was Euro 9.7 million, of which Euro 4.3 million for NB Aurora.

On 25 May 2023, as part of the growth path of the group, NB Aurora and the majority shareholder, through PHS Group S.p.A., completed the acquisition of an additional 20% stake of PHSE S.r.l..

On 12 June 2023, the voluntary public tender offer on the whole share capital of Finlogic S.p.A., - was successfully concluded, thus delisting the company from Euronext Growth Milan. The voluntary public

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tender offer was promoted in March in partnership with Credem PE and PM&Partners, which own together a 76% stake of the group. Finlogic is active in the Information Technology sector, which provides complete and innovative solutions for the coding and automatic identification of products with the use of barcodes and RFID technology.

In press releases dated 16 June 2023 and 25 July 2023, as part of the project to raise new financial resources to continue the investment activity in leading SMEs in their reference markets, NB Aurora announced that 49.9% of the equity investment portfolio - held through NB Aurora Holdings S.à.r.l. and MIC Co-Investment - had been sold to the newly formed closed-end fund called NB Aurora Co- Investment Fund II SICAV RAIF, also managed by NB AIFM S.à.r.l, the management company of NB Aurora, and fully subscribed by third-party professional investors. This sale transaction is of strategic importance to the Company, since it will enable NB Aurora to realize part of the value generated by the portfolio to date and to distribute a dividend in accordance with NB Aurora's rules. NB Aurora will be able to raise financial resources to continue supporting the expansion projects of SMEs that are leaders in their market niches and have high growth potential.

Events after 30 June 2023

In July-September 2023, an additional EUR 2.6 million was invested in the portfolio company BluVet, a group active in the management of veterinary facilities, to support the growth project through acquisitions.

On 11 July 2023, as part of the investment transaction in Finlogic, in accordance with NB Aurora's investment policies, it syndicated to NB Aurora Co-Investment Fund SCSp an interest (at cost) of 46% of the share capital of BCode S.r.l., the corporate vehicle through which NB Aurora Holdings had indirectly invested in Finlogic.

On 6 September 2023, NB Aurora announced the fulfilment of the conditions precedent for the completion of the transaction for the sale of 49.9% of its investment portfolio to NB Aurora Co- Investment Fund II SICAV RAIF. The closing of the transaction, which will be the subject of a separate press release, is expected by October 2023.

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Portfolio analysis as of 30 June 2023

The aggregate turnover1 of the companies currently in the portfolio (and therefore prior to the closing of the above disposal transaction), on the basis of the balance sheet as at 31 December 2022 (latest available public data), amounts to approximately EUR 2.9 billion (+23% compared to 31 December 2021). In general, in 2022 and the first half of 2023, the activities of NB Aurora's investment team focused mainly on the management and value growth of its companies that demonstrated strong resilience, despite the complex economic environment characterized by the commodities crisis, energy crisis, the Ukraine-Russia conflict and an inflationary scenario.

At present, the portfolio includes:

• Club del Sole: based in Forlì, the group is leader in Italy in the industry of camping-village and directly manages 20 camping-villages in 7 regions of Central and Northern Italy. In 2022 the group recorded a turnover of around EUR 77 million, up to 26% compared to 2021. During 2022, the Group continued its major investment plan within its camping-villages in order to further enhance the tourism offer.
• Dierre Group: founded in 1997 in Fiorano Modenese by Giuseppe Rubbiani, today Dierre is the Italian leader in the design, production and sale of technologically advanced and design pleasing protections and components for industrial automation. In 2022, Dierre realized a turnover of approximately EUR 62 million, up to 16% compared to 2021.
• Rino Mastrotto Group ("RMG"): as world leader in the production and sale of leather for the fashion, automotive and furnishing sectors, today RMG operates a global production footprint with 12 facilities (Italy, Sweden, Brazil, USA and Mexico). In 2022 the Group recorded a pro- forma turnover of around Euro 358 million, up to about 10% if compared to 2021. In 2022 RMG completed the acquisition of Morellino e Tessitura Oreste Mariani, so keep on consolidating its leadership in the fashion industry and confirm its positioning as a strategic supplier to major fashion companies.
• PHSE: as leader in Italy in the temperature-controlled transport of pharmaceutical products, biotech, clinical trials, and biological samples serving the hospital channel, PHSE has 29 Hubs and healthcare sites, with more than 550 employees. In 2022, the Group registered a consolidated turnover of about EUR 73 million, up to about 67% compared to 2021. In 2022, the Company completed the acquisition 70% of Transporte de Carga Biologica Express Ltda "Bio Transportes", a Brazilian company active in the temperature-controlled transportation of materials for clinical trials, investigational drugs, and vaccines, with a strong specialization in the distribution of biological samples and bone marrow. In the first six months of 2023, the Group

1 Aggregated financial figures do not include Zeis in "Concordato di Continuità" ' and DBA Group (almost all shares held have been sold)

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