Revo Insurance

Regulatory Filings • May 3, 2022

PRESS RELEASE

REVO: LAUNCH OF REVO UNDERWRITING

THE SPECIALTY BUSINESS STRENGHTNS ITS DISTRIBUTION STRATEGY

Milan, 3rd May 2022

REVO S.p.A. ("REVO" or the "Company") announces that, today, has decided to launch REVO Underwriting S.p.A. ("REVO Underwriting"), an insurance brokerage company, which also provide insurance consultancy services.

With this operation the group is equipped with an MGA (Managing General Agency), an agency authorized to underwrite, issue and manage insurance policies within pre-defined and agreed activities and guidelines, using the licenses and authorizations held by the insurance company, as well as its risk capital.

As annunced during the presentation of the Industrial Plan 2022-2025, REVO strengthens its growth in the specilaty lines business, with the expansion of its distribution network; REVO Underwriting allows the Group to further increase the efficiency of the insurance business intermediated by the agents.

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This press release is available on the Company's website and at .

NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN

REVO S.p.A. Parent Undertaking of the "Elba Assicurazioni" Insurance Group filled into Ivass Group register at n. 059 Registered office: Via Mecenate 90, 20138 Milan (Italy) – Corporate headquarter: Viale delle Nazioni 10, 37135 Verona (Italy) Fully paid‐in share capital € 23,055,000.00 Fiscal Code and Company Register of Milano Monza Brianza Lodi: number 11653690963 Phone: +39 0458531662

For further information please contact:

REVO S.p.A. Equita SIM S.p.A. Investor Relations Manager Jacopo Tanaglia Phone: +39 045 8531662 e-mail: investor@REVO-spac.com

Euronext Growth Advisor and Specialist Via Turati 9, 20121, Milan Phone: +39 02 62041 e-mail: REVO@equita.eu

Media Relation

Incontra - Studio Cisnetto Enrico Cisnetto / Gianluca Colace / Massimo Pittarello Phone: 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 e Simone Lazzaro. REVO aims at creating a major insurance player in specialty lines and parametric risks, mainly focused on SMEs. On 30th of november 2021 REVO has completed the acquisition of Elba Assicurazioni S.p.A., an insurance company operating mainly in the surety business. The achievement of the Business Combination with Elba will allow REVO to start from the existing business by aggregating underwriters and MGAs in the specialty lines, also developing the parametric risk segment. REVO will propose itself as a lean player, adopting new technologies like blockchain to optimize the risk underwriting and claims management process

NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN

REVO S.p.A.

Parent Undertaking of the "Elba Assicurazioni" Insurance Group filled into Ivass Group register at n. 059 Registered office: Via Mecenate 90, 20138 Milan (Italy) – Corporate headquarter: Viale delle Nazioni 10, 37135 Verona (Italy) Fully paid‐in share capital € 23,055,000.00 Fiscal Code and Company Register of Milano Monza Brianza Lodi: number 11653690963 Phone: +39 0458531662