Revo Insurance

Delisting Announcement • Nov 16, 2022

PRESS RELEASE

BORSA ITALIANA PPROVED THE ADMISSION TO TRADING OF THE ORDINARY SHARES AND ALLOTMENT RIGHTS OF ELBA ASSICURAZIONI S.P.A. ON EURONEXT STAR MILAN. AS A RESULT OF THE REVERSE MERGER OF REVO S.P.A. INTO ELBA ASSICURAZIONI S.P.A., ELBA ASSICURAZIONI WILL ASSUME THE NAME OF REVO INSURANCE S.P.A.

THE FIRST DAY OF TRADING ON EURONEXT STAR MILAN WILL BE MONDAY 21st NOVEMBER 2022

Milan, 16 th November 2022 – Following the press releases issued on 14th and 15 th November 2022, Elba Assicurazioni S.p.A. (the "Issuer") and REVO S.p.A. ("REVO") announce that, today, Borsa Italiana S.p.A. ("Borsa Italiana") approved, with resolution n. 44128, the admission to trading on Euronext Milan, STAR segment, of the ordinary shares and allotment rights of the Issuer, as resulting from the reverse merger (the "Merger") of the parent company REVO into the Issuer itself. The first day of trading will be Monday 21st November 2022.

On the same date, the Merger will become effective, and REVO's ordinary shares and allotment rights will be excluded from trading on Euronext Growth Milan. Therefore, the last day of trading of REVO's financial instruments on Euronext Growth Milan will be Friday 18th November 2022.

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For further information please contact:

Investor Relations Manager Jacopo Tanaglia Tel. 045 - 8531662 e-mail: investor@REVO-spac.com

REVO S.p.A. Equita SIM S.p.A.

Euronext Growth Advisor and Specialist Via Turati 9, 20121, Milan Tel.: 02 62041 e-mail: REVO@equita.eu

Media Relation

Incontra - Studio Cisnetto Enrico Cisnetto / Gianluca Colace / Massimo Pittarello Tel.: 06 – 4740739

REVO (www.REVO-spac.com) is a Special Purpose Acquisition Company (SPAC) promoted by Alberto Minali, Claudio Costamagna, Stefano Semolini, Jacopo Tanaglia, Simone Lazzaro and Fabio De Ferrari. It is aimed at developing a major insurance operator with a focus on specialty lines and parametric risks, and primarily dedicated to SMEs. On 30 November 2021, REVO completed the acquisition of Elba Assicurazioni S.p.A., an insurance company active mainly in the surety business. The successful achievement of this business combination with Elba allows REVO to start from existing businesses and aggregate subscribers and MGAs within the specialty insurance sector, developing its parametric risks segment. REVO is a lean and technologically advanced player striving to optimize the risk underwriting and claims management processes, making them more efficient also through blockchain technology.

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Elba Assicurazioni is an insurance and reinsurance company operating in Non-Life Business, registered in the Register of Insurance and Reinsurance Companies maintained by IVASS, Sec. I, under No. 1.00167.