FIERA MILANO COMPLETED THE ACQUISITION OF 25% OF GE.FI., ORGANIZER OF ARTIGIANO IN FIERA

Milan, 23 November 2022 - Fiera Milano S.p.A. (“Fiera Milano” and/or the “Company”), leader in Italy and one of the main integrated operators globally in the exhibition and congress industry, announces that today was finalized the acquisition by Fiera Milano of the 25% of the share capital of Ge.Fi. S.p.A. (the "Transaction"), a leading Italian player in the trade fairs and exhibitions organization, including Artigiano in Fiera, hosted annually by Fiera Milano at its Rho venue.

With a 2021 production value of EUR 19.6 m (EUR 18.1 m in 2019) and an EBITDA of EUR 7.9 m (EUR 2.7 m in 2019), Ge.Fi. S.p.A. ("Ge.Fi.") boasts a consolidated business model, which includes the organization of the Artigiano in Fiera event, a digital eCommerce platform in synergy with the trade fair and restaurant and catering activities.

The Transaction is part of the strategic framework of the "CONN.E.C.T. 2025” Plan, aimed at consolidating the relationship between Fiera Milano and key organizers of hosted events related to the main supply chains of the Italian economic fabric, also through capital transactions, pursuing the dual purpose of both increasing profitability and acquiring key competencies.

On a strategic level, the Transaction aims to strengthen relations between Fiera Milano and Ge.Fi., exploiting the potential deriving from the integration of key competencies in the organizational, digital services and catering areas.

The consideration for 25% of Ge.Fi., set at EUR 11.75 million, was paid at the closing with cash settlement by Fiera Milano. An earn-out is also planned, to be paid following the approval of Ge.Fi.'s 2025 financial statements, based on the achievement of specific targets established in the Ge.Fi. Business Plan. Forms of protection of the minority stake held by Fiera Milano are also foreseen, in line with market practice.

Thanks to this transaction, Fiera Milano and Ge.Fi. intend to consolidate a long lasting strategic partnership aimed at developing new growth trajectories for the two companies, exploiting the synergetic potential associated with the pursuit of common development objectives in a key sector for the Italian system.

Luca Palermo, Chief Executive Officer and General Manager of Fiera Milano, commented: “We are working diligently to create synergies and increase the positioning of Fiera Milano and its partners. This transaction, which represents an important step towards the execution of our CONN.E.C.T. 2025 strategic plan, is part of a growth and consolidation process started in the pre-pandemic and which in the last year has seen us accelerate towards our goals. The acquisition of the 25% of Ge.Fi. allows us to activate significant synergies and increase the profitability of the Group and, at the same time, improve competencies in the organisational, digital and specific catering fields. Our medium-term goal is to develop the potential through the creation of a platform of digital and traditional services, introducing new concepts, leveraging Ge.Fi's organizational competencies and relationships".