PRESS RELEASE 6 SEPTEMBER 2022 – REVO: Shareholders' meeting approves reversed merger of REVO into Elba Assicurazioni

REVO S.p.A. Shareholders' Meeting, held today under the chairmanship of Antonia Boccadoro, approved the reversed merger of the Spac REVO S.p.A. ("REVO") into its subsidiary Elba Assicurazioni S.p.A. ("Elba Assicurazioni") and the listing on the Euronext Milan Market and, if the requirements are met, on the Euronext STAR Milan segment of Borsa Italiana (the "Listing").

The merger was approved with the affirmative vote of 99.30% of those present at the Shareholders' Meeting, which was attended by more than 53% of the share capital with voting rights. The merger will become effective on the date of Listing. The new entity resulting from the corporate merger will be named REVO Insurance S.p.A. ("REVO Insurance"). Antonia Boccadoro, REVO’s Chairman, said: “Today is a historic moment for the company which I chair and I am delighted to have led the Shareholders' Meeting that decreed the birth of the new company REVO Insurance. The merger by incorporation approved today is the finish line of a very rapid corporate pathway. REVO has always pursued its project with tenacity obtaining, in less than a year after the closing of the acquisition of Elba Assicurazioni, all the necessary authorizations for the merger and, at the same time, the approvals from IVASS, which enabled it to evolve decisively also from a business point of iew becoming operational in almost all non-life lines of business and to operate throughout Europe (FOS). Today REVO proves to the market and shareholders that it is keeping faith with and achieving what was set in the Business Plan”.

It is recalled that REVO's Shareholders' Meeting had approved the Business Combination with Elba Assicurazioni on 4th August 2021. Therefore, the merger approved today represents the natural execution of the corporate path undertaken. Equita SIM S.p.A. ("Equita") and Intesa Sanpaolo S.p.A. ("Intesa Sanpaolo") were entrusted with the role of Co-Sponsors in the listing transaction.

Equita will also act as Specialist on the stock following the listing.

ELBA ASSICURAZIONI SHAREHOLDERS' MEETING APPROVES REVERSED MERGER BY INCORPORATION AND CONFIRMS TOP MANAGEMENT FOR 2022-2024 THREE-YEAR PERIOD

It is also informed that Elba Assicurazioni Shareholders' Meeting held yesterday, 5 September 2022, approved the reversed merger by incorporation of REVO, as well as the Listing. At the same time, the Board of Directors was reconfirmed, for the three-year period 2022- 2024, in its current composition, including Antonia Boccadoro as Chairman and Alberto Minali as Managing Director.

Then, the Board of Directors term of office was aligned with the duration of the Business Plan approved last March.