Moleskine : The offering document related to the mandatory tender offer on the ordinary shares of Moleskine S.p.A. has been published

Codice fiscale e Partita IVA n. 09636400963 Registro Imprese di Milano n. 09636400963

R.E.A. di Milano n. 2103373 Indirizzo PEC: dminvestsrl@legalmail.it

1. the Offeror's registered office at Via Montenapoleone 29, Milan (Italy);

2. the Issuer's registered office at Viale Stelvio 66, Milan (Italy);

3. the offices of the Intermediary Responsible for Coordinating the Collection of Tenders (BNP Paribas Securities Services, Italian branch) at Piazza Lina Bo Bardi 3, Milan (Italy);

4. the offices of the Responsible Intermediaries (Banca Akros S.p.A., Banca Aletti

   & C. S.p.A., Equita SIM S.p.A. and Istituto Centrale delle Banche Popolari Italiane S.p.A.);

5. the Issuer's website at www.moleskine.com;

6. the website of the Global Information Agent for the Offer at www.georgeson.it.

The calendar of the Offer announced on November 9, 2016 is hereby confirmed. In particular, the period for acceptance of the Offer (the "Tender Period") will begin at 8:00 a.m. (Italian time) on November 14, 2016, and end at 5:30 p.m. (Italian time) on December 2, 2016, included (except in case of extension), and the shareholders tendering in the Offer will be paid the cash consideration, equal to EUR 2.40 per share, on December 9, 2016 (except in case of extension of the Tender Period).

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Notice to U.S. resident holders of the shares

The Offer described in this notice will be made for the shares of Moleskine, an Italian company, and is subject to Italian disclosure and procedural requirements, which are different from those of the United States. This notice is neither an offer to purchase nor a solicitation of an offer to sell shares of Moleskine. Prior to the beginning of the Tender Period, the Offeror will disseminate the Offer Document as required by applicable law and shareholders of Moleskine should review such document carefully.

To the extent permissible under applicable law or regulation, in accordance with normal Italian practice and pursuant to Rule 14e-5(b)(10) of the U.S. Securities Exchange Act of 1934, as amended, the Offeror, the Issuer and their affiliates or brokers (acting as agents for the Offeror, the Issuer or any of their respective affiliates, as applicable) have in the past purchased and may from time to time after the date of this notice, and other than pursuant to the Offer, directly or indirectly purchase, or arrange to purchase, shares of Moleskine or any securities that are convertible into, exchangeable for or exercisable for shares of Moleskine. No purchases of shares of Moleskine have been made since September 22, 2016, other than (i) the purchase of 73,657,973 shares of Moleskine, previously held by Appunti S.à r.l., and (ii) the purchase of 13,383,482 shares of Moleskine, previously held by Pentavest S.à r.l., by the Offeror. No purchases of Moleskine shares will be made at prices higher than the consideration for the Offer unless the consideration for the Offer is increased accordingly.

To the extent information about such purchases or arrangements to purchase is made public in Italy, such information will be disclosed as required in Italy by means of a press release, pursuant to Art. 41, paragraph 2, letter c) of the Issuers' Regulation, or other means reasonably calculated to inform U.S. shareholders of Moleskine. In addition, the financial advisors to the Offeror and the Issuer may also engage in ordinary course trading activities in securities of Moleskine, which may include purchases or arrangements to purchase such securities.

The Offeror may also purchase shares of Moleskine resulting from the exercise of stock options granted by Moleskine under the existing stock option plans from option holders pursuant to an offer being made to option holders.

Neither the U.S. Securities and Exchange Commission nor any securities commission of any State of the United States has (a) approved or disapproved of the Offer; (b) passed upon the merits or fairness of the Offer; or (c) passed upon the adequacy or accuracy of the disclosure in this notice. Any representation to the contrary is a criminal offence in the United States.

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Notice released by DM Invest S.r.l. and distributed by Moleskine S.p.A. upon request of DM Invest S.r.l.