Olidata S p A : Press release prepared pursuant to Article 114 paragraph 5 of Legislative Decree 58 of 1998

Pievesestina di Cesena, December 31, 2021

Press Release

Press release prepared pursuant to art. 114, paragraph 5,

of the d. lgs. n. 58/98

Following a specific request by CONSOB made to Olidata S.p.A. (hereinafter also "the Company"), by letter dated April 22, 2010, pursuant to art. 114, paragraph 5, of Legislative Decree no. 58/98 and relating to the monthly publication of relevant information on the economic, equity, and financial situation of the Company, the following is specified.

It should be noted that, on May 10, 2021, in the presence of Dr. Marcello Porfiri - Notary in Cesena - a report was issued, pursuant to art. 2436 of the Italian Civil Code, of the decision of the Chairman of the Board of Directors to approve the application for admission to the preliminary arrangement with creditors of Olidata S.p.A. pursuant to art. 152 and 161, sixth paragraph, of the Bankruptcy Law, as amended by Law n.134 / 2012 and by Law Decree n. 69/2013.

It is also recalled:

• that the company presented on May 14, 2021 the application for admission to the pre- composition with creditors procedure at the Court of Forlì;
• that on May 20, 2021, the Court of Forlì granted OLIDATA SPA, a deadline until 07/12/2021 for the presentation of a definitive proposal for an arrangement with creditors (complete with a plan and complete documentation as per paragraphs two and three of this rule) or an application for homologation of debt restructuring agreements;
• that In the same resolution, the Judicial Commissioner was appointed in the person of Prof. Dr. PAOLO BASTIA with office in Bologna;
• that on 07/12/2021 the Court of Forlì granted an extension of the term of arrangement with creditors until September 10, 2021.
• That on September 10th the company presented, assisted by the Advisors PricewaterhouseCoopers SpA and Studio Di Gravio of Rome, a proposal for a going concern arrangement plan;
• that on 29 September the company received from the Court of Forlì a decree calling the hearing for October 25, 2021, together with the Commissioner, in order to provide clarifications on the composition proposal and in relation to any critical issues encountered.
• that on November 5, 2021, the Court of Forlì admitted Olidata S.p.A. to the composition with creditors procedure presented on May 14, 2021, setting the creditors' meeting for
  March 31, 2022, at 10:45 am.

The proposed arrangement, which was drawn up with the assistance and support of the "PWC" Advisor PricewaterhouseCoopers Business Services S.r.l., provides for the satisfaction of corporate creditors through the financial flows from:

1. collection of sums by way of external finance by Le Fonti Group S.r.l.;
2. collection of sums by way of external finance by Sferanet S.r.l.:
3. collection of the sums deriving from the sale of the equity investment in Italdata S.p.A.;
4. collection of receivables from customers, shareholders and other receivables.

In consideration of the above-mentioned active flows and having regard to the value of the corporate assets in the liquidation scenario as estimated in the report pursuant to art. 160, co. 2, l.f., the composition proposal provides:

1. the full payment of the pre-deductible debts;
2. il pagamento integrale dei debiti privilegiati verso dipendenti ex art. 2751-bis n. 1 c.c.;
3. the degradation to chirograph:
4. • partial payables due to professionals pursuant to art. 2751-bis n. 2 of the Italian Civil Code, to the extent of 95%;
   • full amount due to artisans pursuant to art. 2751-bis n. 5 of the Italian Civil Code.;
   • full compensation VAT pursuant to art. 2758, co. 2 of the Italian Civil Code, based on the appraisal pursuant to art. 160, co. 2, l.f. of the professional appointed dr. Alessandro Arrighi;
   • full social security payables pursuant to art. 2753 (payables to INPS and INAIL) and 2754 (payables to supplementary welfare institutions and payables for accessories referring to payables pursuant to Article 2753) of the Italian Civil Code.;
   • full of privileged tax debts pursuant to art. 2752, paragraphs 1 and 3 of the Italian Civil Code.
5. the partial payment of the unsecured debts, including the privileged debts downgraded to the unsecured point referred to in the previous point, to the following extent for the individual classes:
6. • class 1 - payables to professionals pursuant to art. 2751-bis n.1 of the Italian Civil Code and artisans pursuant to art. 2751-bis no. 5 of the Italian Civil Code degraded to unsecured: satisfaction to the extent of 7.43%;
   • class 2 - tax and social security debts downgraded to unsecured, also subject to settlement pursuant to art. 182-ter l.f .: satisfaction to the extent of 6.43%;
   • class 3 - other unsecured debts: satisfaction to the extent of 5.43%.

No satisfaction is expected for subordinated creditors under the composition plan.

1. Liquid assets situation

The change in the last reference period is shown below:

		11. 30.2021	10.31.2021	Variat.
	Liquid assets	34.921	38.861	(3.940)

2. Debt positions broken down by nature (financial, commercial, tax, social security, and towards employees)

The following debt positions are included in the Composition with Creditors Plan pursuant to art.

161 and 186-Bis L.F., broken down by nature:

							Payments
	Satisfaction rate (€ '000)		Composition	%		provided
		Balance		satisfac.		for in the
							Plan
	Cash as of 13-May-21					0
	Collection from assets					416
	Sale of Italdata shareholding					350
	Credit collection					66
	Collection for third party finance					2.127
	Available gross cash flow						2.543
	Current and operating charges					(830)
	Cash at the service of the composition with creditors						1.713
	Pre-deductible payment	743	100%	(743)
	Preferred payment	1.723			(362)
	Generic fund at the service of the privileged	105	100%	(105)
	Provision for legal interest on privileged debts	0	100%	0
	Paying employees	207	100%	(207)
	Payment professionals	1.016	5%	(50)
	Payment artisans	7	0%	-
	Payment of social security debts	199	0%	-
	Payment of tax debts	190	0%	-
	Cash at the service of unsecured persons						608
	Class 1 unsecured payment (professionals and degraded craftsmen)	973	7,43%	(72)
	Payment professionals	966	7,43%	(72)
	Payment artisans	7	7,43%	(1)
	Class 2 unsecured payment (social security and tax degradation)	389	6,43%	(25)
	Class 3 unsecured payment (other unsecured debts)	9.400	5,43%	(511)
	Payment subordinated	100	0,00%	-
	Residual cash flow					-

3. Relations with related parties of the Company and of the group to which it belongs

Con riferimento alle operazioni con parti correlate si riportano nella seguente tabella riepilogativa i rapporti in essere al 30 novembre 2021:

Data Polaris S.r.l. in liquidation	Euro
* Credits	42.057
Debts	375
Revenues	-
Costs	-
Olidata Energy S.r.l. in liquidation	Euro
* Credits	169.832
Debts	214
Revenues	-
Costs	-
* Receivables entirely written down in the financial statements as a company in liquidation
Redifin S.p.A.	Euro
Credits	-
Debts	116.360
Revenues	-
Costs	5.571
Le Fonti Capital Partner S.r.l.	Euro
Credits	15.000
Debts	-
Revenues	-
Costs	-

4. Further Information.

For further information about the Company, you can go to our website at: www.olidata.com-

Investor Relations section - e-mail: [e-mail]