Revo Insurance

Board/Management Information • Mar 15, 2022

PRESS RELEASE

REVO: RESIGNATION OF THE CHAIRMAN FROM THE BOARD OF DIRECTORS

Milan, 15 th March 2022

REVO S.p.A. announces that Claudio Costamagna, non-Executive and non-Independent Director, has resigned from the role of Director and Chairman of REVO S.p.A., as well as of the subsidiary Elba Assicurazioni S.p.A., due to professional charges incompatible with these roles.

Claudio Costamagna had joined the Board of Directors of REVO S.p.A. on May 3rd, 2021.

This press release is available at corporate website and at

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REVO S.p.A. Registered office: Via Mecenate 90, 20138, Milan – Corporate headquarter: Viale delle Nazioni 10, 37135 Verona Fully paid-in share capital € 23,055,000.00 Fiscal Code and Company register of Milano Monza Brianza Lodi: number 11653690963 – Telephone: +39 0458531662 PEC: revo-spac@legalmail.it EU‐DOCS\33842160.1

For further information please contact:

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

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

Euronext Growth Advisor e Specialist Via Turati 9, 20121, Milano 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 and Simone Lazzaro. REVO's objective is to create a leading insurance company focused on specialty lines and parametric risks, primarily dedicated to 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 further develope the existing business by aggregating underwriters and MGAs in the specialty lines, also developing the parametric risk segment. REVO will be a lean player, also thanks to the adoption of new technologies like blockchain to optimize the risk underwriting and claims management process.