Portobello S p A : SUCCESFULL END OF THE CAPITAL INCREASE RESERVED FOR QUALIFIED/INSTITUTIONAL INVESTORS THROUGH ACCELERATED BOOKBUILDING

- PRESS RELEASE -

SUCCESFULL END OF THE CAPITAL INCREASE RESERVED FOR QUALIFIED/INSTITUTIONAL INVESTORS THROUGH ACCELERATED BOOKBUILDING

Rome, 9 June 2021 - Following yesterday's press release, Portobello S.p.A. ("Company" or "Portobello") - a company listed on "AIM Italia", owner of a proprietary retail chain offering quality products at affordable prices and active through bartering in the media advertising sector - announced that it has successfully concluded the capital increase that the Company's board of directors approved yesterday.

The capital increase involved the issue of 243,902 new ordinary shares with no nominal value, corresponding to approximately 8,15% of the pre-money share capital, for a total increase of €9,999,982.00 (including share premium).

The shares were allocated at €41.00 each and settlement will take place on 14 June 2021.

The shares were offered through an accelerated bookbuilding procedure and were reserved exclusively for "qualified investors" (even foreign ones), as defined under Articles 100 of the Legislative Decree no. 58 of 24 February 1998, 34-ter of the Regulation adopted through CONSOB resolution no. 11971 of 14 May 1999 and 35 of the Regulation adopted through CONSOB resolution no. 20307 of 15 February 2018, as well as to foreign institutional investors in accordance to Regulation S of the United States Securities Act of 1993 or other persons in the European Economic Area (EEA), excluding Italy, that are "qualified / institutional investors" as defined under Article 2(e) of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (and in any event excluding institutional investors from Australia, Canada, Japan and the United States and any other foreign country in which the placement is not possible in the absence of an authorisation from the competent authorities), therefore without publication of a prospectus and/or an information document by virtue of the applicable exemptions provided for in the applicable regulations (including transactional regulations)

Following the full subscription of the newly issued shares, Portobello's post-increase share capital is €619,490.40, divided into 3,236,902 ordinary shares with no nominal value and with a free float of approximately 26.48%.

In line with market practice, Portobello has undertaken a lock-up commitment of 120 days, not applicable to issues of shares reserved to incentive plans.

Midcap (TP ICAP (Europe) SA) and BPER Banca S.p.A. acted as joint bookrunners of the accelerated bookbuilding, while Simmons & Simmons was legal advisor for the transaction.

Pietro Peligra, Chairman of Portobello, said: "We're glad to have quickly closed an important capital increase which has seen a demand much higher than the offer from Italian and international investors. These proceeds will provide the Company with the means required to accelerate its retail chain growth domestically and to scale its innovative and successful business model."

For additional information, please consult our press release of 8 June 2021, by means of which the launch of the transaction was announced.

THIS PRESS RELEASE IS NOT INTENDED FOR PUBLICATION, DISTRIBUTION OR CIRCULATION, WHETHER DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN THE UNITED STATES, CANADA, SOUTH AFRICA, AUSTRALIA, JAPAN OR IN ANY OTHER JURISDICTION WHERE THE OFFER IS PROHIBITED BY LAW.

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This press release is for in informational purposes only in accordance with Italian law, and is in no way to be considered an investment proposal. Nor can it be used as or considered to be an offer to sell or an invitation to offer or purchase or sell Portobello S.p.A. financial instruments to the public.

he press release is available online at www.portobellogroup.itin the Investor Relations section and

www.1info.it.

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Portobello S.p.A. founded in Rome in 2016 and listed on the AIM Italia market, operates through 3 Business Units active in the Media & Advertising, Retail and B2B sectors. The Company deals with the resale of advertising space, either owned or purchased from third parties, for a monetary consideration or alternatively through the barter system. The Company also operates a chain of Portobello branded shops, both direct and franchised, as well as an e-commerce channel (www.portobelloclub.it). In 2020, it achieved Revenues of EUR 64 million with an EBITDA of EUR 10.9 million and a Net Profit of EUR 6 million.

CONTACTS
INTEGRAE SIM	IR TOP Consulting S.r.l.	Portobello S.p.A.
NomAd	Capital Markets & Investor	Investor Relations Manager
[e-mail]	Relations	Pietro Peligra
Via Meravigli 13 - 20123 Milano	Domenico Gentile	[e-mail]
T [phone]	[e-mail]	Piazzale della Stazione snc - 00071
	Via C. Cantù, 1 - 20123 Milano	Pomezia / Z.I. Santa Palomba (RM)
	Tel.: [phone]	Tel.: [phone]

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