The Italian Sea Group S.p.A.: Irrevocable proposal for the unitary corporate complex of Perini Navi S.p.A.’s Bankruptcy

PRESS RELEASE

The Italian Sea Group S.p.A.:

Irrevocable proposal for the unitary corporate complex of Perini Navi

Marina di Carrara, October 26th, 2021. TISG

corporate complex of Perini Navi S.p.A. Bankruptcy to the Judge Delegate of Lu estate assets of the shipyards in Viareggio and La Spezia, the building complex in Pisa, one vessel under construction, project n. 2369, trademarks and patents, the social participation (100%) of Perini Navi USA Inc. and the existing legal relationships with employees and third parties.

The Price offered by The Italian Sea Group to the Perini Navi S.p.A. Bankruptcy procedure is equal to Euros 47.000.000,00 (forty-seven million/00).

The Italian Sea Group which, in July 2021, had already confirmed its interest in Perini Navi, but only at values compatible with value creation for the company and its Shareholders formulated an economic offer accompanied by a precise industrial plan and a plan to revive the prestigious Perini brand.

dedicated to new constructions, as well as the resolve to further expand its reference market, strengthening positioning in the sail yachting world and bringing into the Group another internationally renowned brand such as Perini Navi.

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The theitalianseagroup.com/investor/.

This document is an English translation from Italian. The Italian original shall prevail in case of difference in interpretation and/or factual errors.

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The Italian Sea Group

The Italian Sea Group is a global operator in the luxury yachting industry, active in the reconstruction and refit of motor yachts and sailing yachts up to 100 meters. The company, led by the Italian entrepreneur Giovanni Costantino, is active in the market with its brands Admiral, renowned for its exquisite and elegant yachts, and Tecnomar, recognized for the sportsmanship, avant-garde design, and high-performance of its yachts; the company also has a business unites which handles repairing and refit services with a focus on yachts and mega yachts with a length exceeding 60 meters.

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