Deoleo : Increases and decreases of share capital

Deoleo's International growth drive underpinned by 25 million euro capital increase approved by Board of Directors

• • The subscription price will be 0.10 euros, representing a discount of 24.70% with respect to the share's closing price on September 27, 2018

• • The subscription period will commence on 2 October and close on 16 October

• • The funds will further support the Company's strategic focus on its expansion into international markets that offer high growth potential as well as to continue to enhance the reach of its award-winning brands

28 September 2018 - MADRID. The Board of Directors of Spanish multinational Deoleo (BME:OLE), the world's top selling olive oil producer, in the meeting held yesterday, approved the capital increase announced in April 2018 by means of preferential subscription rights for a nominal amount of 25,018,022 euros through the issuance of 250,180,220 ordinary shares. The capital increase has been unanimously approved by the Board of Directors.

Investments will focus on international markets with high growth potential, increased support for the company's leading brands and on forging strategic business agreements with providers that are committed to quality.

The subscription price will be 0.10 euros per share, with a discount of 24.70% on the closing price on September 27, 2018, which stood at 0.1328 euros. The subscription period will run from 2 October until 16 October 2018. There will then be an additional allotment and a discretionary allotment before the process closes on 25 October.

The company, which currently holds a 10.2%1 share of the worldwide olive oil market, will deploy this capital to strengthen its award-winning brands: BERTOLLI®, Carbonell and Carapelli. Deoleo will deliver commercial innovation through the global refresh of the world-leading Bertolli brand, the launch of its premium range under the Carapelli and Hojiblanca brands in Spain. In addition, Deoleo continues to expand its range of organic olive oils as customer demand for organic food and products grows.

OLE Investments (an entity indirectly participated by funds managed by CVC Capital Partners), Deoleo's majority shareholder, has already announced that it will cover the issue up to 25,000,000 euros, reiterating its firm support for the current executive team and the Company's business plan, which seeks driving long-term growth.

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The governing bodies of Deoleo's other reference shareholders will decide if they subscribe to the issue following the announcement of the price. Caixabank has already stated that it will not subscribe.

The Spanish Securities Market regulator, the CNMV, will today approve the terms and conditions of the Capital Increase, and the procedure for the subscription of new shares will appear in the corresponding securities filing which is expected to be registered today.

Deoleo's quality and value-based strategy is a long-term project and will be reflected in the results accordingly. However, the company is working on its goal of improving sales and profitability.

"As the world leader in the olive oil segment, Deoleo is at the forefront of the shift in the sector. We have a long-term strategic plan in place which, with this further investment capacity, will enhance quality, innovation and, specifically, the creation of distinctive value within the sector", said Pierluigi Tosato, Chairman and CEO of Deoleo.

The financial support for the business's strategic development was obtained in April this year through the commitment of the above mentioned 25 million-euro capital increase, coupled with the extension of a revolving line of credit for a further 25 million, which is now available. Deoleo now has access to 50 million euros that will drive the continued roll-out of its strategic growth plan.

ABOUT DEOLEO (BME:OLE)

Deoleo is a Spanish multinational food company and the world's top selling olive oil bottler, present in over 80 countries on the five continents. It has factories in Spain and Italy and sales offices in 15 countries. Deoleo has leading global brands, such as Bertolli, the best-selling brand in the United States, Carapelli and Sasso; and the Spanish brands Carbonell, Hojiblanca and Koipe.

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