Revo Insurance

Delisting Announcement • Nov 14, 2022

PRESS RELEASE

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

Milan, 14 thNovember 2022 – Elba Assicurazioni S.p.A. (the "Company" or "Elba Assicurazioni") and REVO S.p.A. ("REVO") announce that, today, Borsa Italiana S.p.A. ("Borsa Italiana"), with resolution no. 8898, has approved the admission of the ordinary shares and allotment rights of the Company to the Euronext Milan regulated market, organized and managed by Borsa Italiana ("Euronext Milan"). Upon completion of the reverse merger by incorporation of REVO into Elba Assicurazioni, the Company will assume the name of REVO Insurance S.p.A., in abbreviated form "REVO S.p.A.", with registered office in Verona, Viale dell'Agricoltura No. 7 ("REVO Insurance").

With the same resolution, Borsa Italiana has approved the simultaneous exclusion of REVO's ordinary shares and allotment rights from trading on the Euronext Growth Milan multilateral trading system, organized and managed by Borsa Italiana ("Euronext Growth Milan").

The Company also filed, today, with Borsa Italiana the application for admission to trading on Euronext Milan, STAR segment, of the ordinary shares and allotment rights.

The commencement of trading on Euronext Milan and, should the specific requirements be met, on the STAR segment, of REVO Insurance's ordinary shares and allotment rights and the simultaneous exclusion from trading on Euronext Growth Milan of REVO's ordinary shares and allotment rights will be established by Borsa Italiana in a subsequent notice, subject to the approval by Consob of the publication of the prospectus.

It is also announced that Elba Assicurazioni has adhered, pursuant to Articles 70, paragraph 8 and 71, paragraph 1bis, of the Issuers' Regulations adopted by Consob with its resolution No. 11971 of 14 May 1999 (the "Issuers' Regulations"), to the opt-out regime provided for in the aforementioned articles by availing itself of the right to waive the disclosure requirements set forth in Annex 3B of the Issuers' Regulations upon the occurrence of significant mergers, spin-offs, capital increases through contribution in kind, acquisitions and disposals.

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

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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.

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.