Portobello S p A : ON ITS WAY TO BECOMING THE ITALIAN NET ZERO RETAIL CHAIN

PRESS RELEASE

PORTOBELLO ON ITS WAY TO BECOMING THE ITALIAN NET ZERO RETAIL

CHAIN

It has embarked on an environmental sustainability path with Forever Bambù to

offset 600 tons of CO2 per year with bamboo forests entirely in Italy

Rome, 24 May 2022

Portobello S.p.A. ("Portobello" or the "Company"), holding company of the retail chain of the same name, which provides quality products at affordable prices and is active through bartering in the media advertising sector, listed on the Euronext Growth Milan market, announces the launch of the Forever Zero CO2 environmental sustainability project, the carbon offset program of Forever Bambù, a leader in the planting of giant bamboo with biodynamic and symbiotic agriculture, for industrial, food and energy purposes.

Thanks to this ambitious project, which is part of the sustainability strategy pursued by the Company, Portobello has offset the polluting emissions produced by all the stores opened by December 2021, through the absorption of approximately 600 tons of CO2 per year, to a total of 12,000 tons by 2042, by planting a bamboo forest of 23,000 sqm in Civitella Paganico in Tuscany.

Pietro Peligra, Chairman of Portobello, explains: "For Portobello, sustainability must immediately translate into concrete and effective actions. The partnership with Forever Bambù allows us to offset the CO2 emissions of all the stores opened by the end of last year through the planting of bamboo in Italy, which has proven to have an absorption capacity unmatched compared to other plant species. Obviously, our goal will continue in the future by offsetting all the stores that we will open every year in order to become the Italian chain with net zero emission!"

"Portobello has demonstrated a forward-looking vision by integrating a twenty-year sustainability project such as Forever Zero CO2 into its Business Plan" comments Emanuele Rissone, Forever Bambù President and Founder. "We are happy to support them in this project, which is also useful for raising awareness among the final consumer".

Portobello's carbon neutrality, the result of an accurate scientific study by Forever Bambù technicians, is related to the Company's stores opened by December 31st 2021. The program was born from the desire to implement the company's carbon offset parallel to the increase in number of the stores on the national territory foreseen by the Industrial Plan. A bamboo forest - thanks to Forever Bambù's exclusive method of cultivation, management and pruning - can absorb up to 265 tons of CO2 per year, 36 times more than a mixed forest under the same conditions.

To find out more about the project: www.foreverzeroco2.it

This press release is available online at www.portobellospa.comin the Investor Relations section

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Portobello S.p.A., founded in Rome in 2016 and listed on the Euronext Growth Milan market, operates through 3 Business Units active in the Media & Advertising, Retail and B2B sectors. The Company deals in the resale of advertising space, either proprietary or purchased from third parties, for a monetary consideration or alternatively through the barter system. The Company also manages a chain of Portobello brand stores. In 2021, it achieved Revenues of Euro 88.2 million with an EBITDA of Euro 16.5 million and Net profit of Euro 8.8 million.

Forever Bambù is the first Italian enterprise combining a structured manufacturing project with the environmental attention both to the quality of air and to the soil improvement through the cultivation of giant bamboo. Forever Bambù is the only European company in the industry to be certified both for organic and symbiotic production. The group reunites 29 companies including 7 innovative start-ups, featuring 200 hectares of land dedicated to the plantation of 198,000 bamboo plants by 2022. The group currently is made of more than 1350 associates from all over Europe. Forever Bambù is also the first company planting forests for industrial purposes to include in its strategic goals the listing on a European Stock Exchange, planned for the second half of this year.

To learn more please visit: www.foreverbambu.com

Contacts:

Portobello

IR TOP Consulting S.r.l.	Portobello S.p.A.
Capital Markets & Investor Relations	Investor Relations
Domenico Gentile	[e-mail]
[e-mail]	Piazzale della Stazione snc - 00071
Via Bigli, 19 - 20121 Milano	Pomezia / Z.I. Santa Palomba (RM)
Tel.: [phone]	Tel.: [phone]
Forever Bambù:
a quiet place
Elena Santoro
[e-mail]
[phone]