Olidata S p A : Press release prepared under Article 114 paragraph 5 of Legislative Decree 58 of 1998 - February 28, 2022

Pievesestina di Cesena, March 31, 2022

Comunicato stampa

Comunicato stampa predisposto ai sensi dell'art. 114, comma 5, del 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, under art. 114, paragraph 5, of Legislative Decree no. 58/98 and relating to the monthly publication of relevant information on the Company's economic, equity, and financial situation, 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, under 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. under 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 an 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, to provide clarifications on the composition proposal and about 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 company, having taken note of the provision issued by the G.D. on 02.09.2022, relating to the need to proceed with the deferral of the creditors' meeting, already

scheduled for 03.31.2022, announces that it has been deferred to May 04, 2022, at 11.00.

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:

• i. collection of sums by way of external finance by Le Fonti Group S.r.l.;

• ii. collection of sums by way of external finance by Sferanet S.r.l.:

• iii. collection of the sums deriving from the sale of the equity investment in Italdata S.p.A.;

• iv. 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 under art. 160, co. 2, l.f., the composition proposal provides:

• 1. the full payment of the pre-deductible debts;

• 2. the full payment of the privileged debts towards employees ex-art. 2751-bis n. 1 c.c.;

• 3. the degradation to chirograph:

  • • partial payables due to professionals under art. 2751-bis n. 2 of the Italian Civil Code, to the extent of 95%;

  • • full amount due to artisans under art. 2751-bis n. 5 of the Italian Civil Code.;

  • • full compensation VAT under art. 2758, co. 2 of the Italian Civil Code, based on the appraisal under art. 160, co. 2, l.f. of the professional appointed dr. Alessandro Arrighi;

  • • full social security payables under art. 2753 (payables to INPS and INAIL) and 2754 (payables to supplementary welfare institutions and payables for accessories referring to payables under Article 2753) of the Italian Civil Code.;

  • • full of privileged tax debts under art. 2752, paragraphs 1 and 3 of the Italian Civil Code.

• 4. 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:

• • class 1 - payables to professionals under art. 2751-bis n.1 of the Italian Civil Code and artisans under 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 under 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:

02.28.2022	01.31.2022	Variat.
Liquid assets	28.070	32.407	(4.337)

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

Satisfaction rate (€'000)	Composition Balance	% satisfac.	Payments provided 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)

Residual cash flow

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

Concerning transactions with related parties, the following summary table shows the relationships existing as of February 28, 2022:

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 are entirely written down in the financial statements as a company in
liquidation
Redifin S.p.A.	Euro
Credits	-
Debts	115.560
Revenues	-
Costs	-
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]