Davide Campari Milano : S.p.A. successfully placed two series of fixed rate notes

Milan, March 22nd, 2017‐This morning Davide Campari‐Milano S.p.A. has successfully completed the placement of an unrated 7‐year bond issue and an unrated 5‐year bond issue, in each case targeted at institutional investors. Application will be made for the notes of each series to be admitted to trading on the unregulated market (so‐called 'Third Market') of the Vienna Stock Exchange. Settlement is expected on or about 5th April 2017.

Moreover, today BNP Paribas has launched a tender offer (the 'Tender Offer') on certain existing notes previously issued by Davide Campari‐Milano S.p.A., namely:

 € 400,000,000 ‐ 4.50% ‐ maturity 25 October 2019 (ISIN Code XS0848458179)

 € 600,000,000 ‐ 2.75% ‐ maturity 30 September 2020 (ISIN Code XS1300465926)

up to a maximum overall amount of € 200 million, in accordance with the terms and conditions of the Tender Offer Memorandum dated 22nd March 2017. The launch notice in respect of the Tender Offer is available on the website of the Luxembourg Stock Exchange at www.bourse.lu.

The new issue is aimed, in whole or in part, at (i) an exchange for those existing notes previously issued by Davide Campari‐Milano S.p.A. (included in the list above) which may be acquired by BNP Paribas pursuant to the Tender Offer; and (ii) the pursuit of the company's corporate purposes (including the refinancing of part of its existing indebtedness).

With this transaction, Davide Campari‐Milano S.p.A. intends to optimise its debt structure by extending the average maturity of its liabilities benefitting from the low interest rates on the market.

The results of the transaction will be announced to the market.

BNP Paribas and Deutsche Bank AG, London Branch are acting as Joint Lead Managers in respect of the issue of the new notes, BNP Paribas is acting as offeror in respect of the Tender Offer on the existing notes and BNP Paribas and Deutsche Bank AG are acting as Dealer Managers in respect of the Tender Offer.

Allen & Overy is acting as legal advisor to Davide Campari‐Milano S.p.A. and Clifford Chance Studio Legale Associato is acting as legal advisor to the Joint Lead Managers on this transaction.

The notes will only be offered and sold outside the United States to institutional investors that are non‐U.S. persons under Regulation S and have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act), or any other securities laws. The notes may not be offered or sold in the United States, or to, or for the account or benefit of, US persons absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell the notes or an offer of financial products, nor shall there be any sale of the notes in any state or jurisdiction in which such an offer or sale would be unlawful. No action has been or will be taken to permit a public offering of the notes in any jurisdiction.

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This press release is not an offer of securities for sale or an offer of financial products in the United States or any other jurisdiction. The securities may not be offered or sold in the United States or to or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the Securities Act) unless registered under the Securities Act or pursuant to an exemption from such registration.

The offering of the notes has not been cleared by the Commissione Nazionale per le Societá e la Borsa (CONSOB), pursuant to Italian securities legislation. Accordingly, the notes have not been and will not be offered, sold or delivered in Italy in a public offering ('offerta al pubblico') except in circumstances which are exempted from the rules on public offerings pursuant to Italian applicable laws and regulations, and the notes may only be offered, sold or delivered in Italy in compliance with all Italian applicable laws and regulations.

This press release is directed only (i) at persons who are outside the United Kingdom, (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended or (ii) at persons falling within Article 49(2) (a) to (d) ('high net worth companies, unincorporated associations, etc.') of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (all such persons together being referred to as 'relevant persons'). This press release must not be acted on or relied on by persons who are not relevant persons. Any investment activity to which this press release relates is reserved for relevant persons only and may only be engaged in by relevant persons.

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ABOUT GRUPPO CAMPARI

Gruppo Campari is a major player in the global spirits industry, with a portfolio of over 50 premium and super premium brands, spreading across Global, Regional and Local priorities. Global Priorities, the Group's key focus, include Aperol, Appleton Estate, Campari, SKYY, Wild Turkey and Grand Marnier. The Group was founded in 1860 and today is the sixth‐ largest player worldwide in the premium spirits industry. It has a global distribution reach, trading in over 190 nations around the world with leading positions in Europe and the Americas. The Group's growth strategy aims to combine organic growth through strong brand building and external growth via selective acquisitions of brands and businesses. Headquartered in Milan, Italy, Campari owns 18 plants and 1 winery worldwide and has its own distribution network in 20 markets. The Group employs approximately 4,000 people. The shares of the parent company Davide Campari‐Milano

S.p.A. (Reuters CPRI.MI ‐ Bloomberg CPR IM) have been listed on the Italian Stock Exchange since 2001. For more information: www.camparigroup.com/en

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