Italmobiliare S p A : finalises investment in Bene Assicurazioni

PRESS RELEASE

ITALMOBILIARE ASSICURAZIONIFINALISESINVESTMENTINBENE

Milan, April 29th, 2022 - Italmobiliare's investment in Bene Assicurazioni was finalised today, as announced on November 17 last year. The entry into this company's share capital involved an outlay of € 40 million, having received authorisation from IVASS, the Supervisory Authority for the Italian Insurance Sector. As a result of this overall deal, Italmobiliare will hold 19.99% of Bene Assicurazioni.

This investment increases even more Italmobiliare's commitment to enhance - alongside well-known Made in Italy brands of excellence - innovative companies capable of intercepting and guiding the transformations currently underway, with excellent growth opportunities thanks to a combination of digital skills and a deep knowledge of sector.

Bene Assicurazioni, founded in 2016 by Andrea Sabìa, represents one of the main innovations on the Italian insurance market. In just five years of operations, Bene Assicurazioni has reached 140 million in gross premiums at the end of 2021. Bene Assicurazioni is characterised by the high level of automation and digitisation of its business processes and the flexibility of the application architecture, pursuing an omnichannel distribution model that combines expansion and enhancement of the network of agents present throughout Italy with direct online sales.

Italmobiliare is an investment holding company that manages a diversified portfolio of investments with a Net Asset Value of over 2 billion euro. Since 2017, it has consolidated its strategy of investing in companies with major innovative "Made in Italy" brands, supporting significant rates of growth with its know-how and models of development and governance.

Disclaimer

This press release may contain forward-looking statements. These statements are based on the Group's current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future, and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors, including: continued volatility and further deterioration of capital and financial markets, changes in commodity prices, changes in general economic conditions, economic growth and other changes in business conditions, changes in laws and regulations and the institutional environment (in each case in Italy or abroad), and many other factors, most of which are beyond the Group's control.

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