ADDRESSEES. The Voluntary Tender Offer on Ordinary Shares is promoted exclusively in Italy, insofar as Target Ordinary Shares are listed exclusively on the MTA, and is addressed, on the same conditions, to all holders of VTO Ordinary Shares. The Voluntary Tender Offer on Saving Shares is promoted exclusively in Italy, insofar as the Saving Shares are listed exclusively on the MTA, and is addressed, on the same conditions, to all holders of the Saving Shares. The VTOs have not been and shall not be promoted or disseminated in the United States of America (or addressed to U.S. Persons, as defined under the U.S. Securities Act of 1933 as subsequently amended), Canada, Japan or Australia, or in any other country in which that VTOs are not permitte d in absence of authorization by the competent authorities or other obligations from the Offerors (collectively, the “Othe r Countrie s”), nor using instruments of communication or national or international commerce of the Other Countries (including but not limited to the postal network, fax, telex, email, telephone and internet), nor by way of any structure of any of the financial intermediarie s of the Other Countries nor in any other way. Copy of this press release, the VTOs Document, or portions of same, as also copy of any subsequent document which the Offerors shall issue in relation to the VTOs are not and shall not be sent, nor in any way transmitted or distributed, directly or indirectly in the Other Countries. Any party who receives the abovementioned documents must not distribute, send or transmit them (either by post or by any other method or instrument of communication or commerce) to the Other Countries. Applications for acceptance of the VTOs consequent to activities of soliciting which have been performed in breach of the above limitations shall not be accepted. This press release, the VTOs documents as well as any other document related to the Offers do not constitute and cannot be interpreted as an offer for financial instruments aimed at U.S. Persons as defined under the U.S. Securities Act of 1933 as subsequently amended or to parties resident in Other Countries. No instrument can be offered or sold in the Other Countries in the absence of specific authorization in compliance with the applicable provisions of the local law of said countries or in derogation of said provisions. Acceptance of the VTOs by parties resident in countries other than Italy can be subject to specific obligations or restrictions provid...
