SOMEC: acquisition of Gino Ceolin S.r.l. by Mestieri S.r.l. has been completed

SOMEC: ACQUISITION OF GINO CEOLIN S.r.l.

BY MESTIERI S.r.l. HAS BEEN COMPLETED

San Vendemiano (Treviso), 25 January 2023 - Somec S.p.A., a company listed on the Euronext Milan market of Borsa Italiana and specialising in the engineering, production and commissioning of complex turnkey projects in the civil and naval engineering sector, announced earlier today that it has completed the acquisition of 60% of the share capital of Gino Ceolin S.r.l. through its direct subsidiary Mestieri S.r.l.

Gino Ceolin S.r.l. is a company specialising in customised metalwork for exteriors and interiors, particularly for the retail, hospitality and high-end residential sectors.

The company joins the Mestieri: design and creation of bespoke interiors business division, strengthening its offering in the creation of high-end furniture and interiors for hotels, shops and exclusive residences.

The provisional price paid is 1.3 million Euro. The remaining 40% of the capital is tied to put and call option rights that may be exercised within 90 days of the approval of the financial statements for the year ending 31 December 2026. For more details on the transaction, please refer to the press release issued on 20 December 2022.

The deal (i) was entirely funded through credit lines available to Mestieri S.r.l., and (ii) does not qualify as significant pursuant to Article 71 of the Issuers' Regulation adopted by Resolution No. 11971 of 14 May 1999, as amended.

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SOMEC

SOMEC S.p.A. specialises in the engineering, design and realisation of complex turnkey civil and naval engineering projects in three contract segments: engineered systems for naval architecture and civil facades, professional kitchen systems and products, and the design and creation of customised interiors. Companies in the Group operate under a similar business model, focusing on design, production and installation, in compliance with strict civil and naval engineering quality and safety standards. Projects managed by the Group stand out for their high levels of customisation and material-specificknow-how, a fundamental requirement in projects with high added value. Thanks to its rigorous certification and accreditation process, SOMEC has achieved a reputation for quality and operational and financial reliability on a global scale. SOMEC is headquartered in San Vendemiano in the province of Treviso in Italy, has companies in the United States, Slovakia, China and Canada, employs around 800 people and recorded a turnover of 258.5 million Euros in 2021.

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