Revo Insurance

Transaction in Own Shares • Mar 3, 2022

PRESS RELEASE

REVO: INITIATION OF SHARE BUYBACK PROGRAM

Milan, 3rd March 2022

Pursuant to Euronext Growth Milan (formerly AIM Italia) Regulation, REVO S.p.A. ("REVO"), following the resolution approved by the Shareholder's Meeting on 3rd May 2021 (the "Resolution"), announces the intention to initiate a share buyback program, starting from the 3rd March 2022, for the purposes and in compliance with the terms set out in above mentioned Resolution, in order to support the liquidity of the security (the "Program").

The shares resulting from the implementation of this program can also be used by the Company to serve any external operations to be carried out through the exchange of shares and incentive plans reserved to employees.

The authorization to purchase own shares has a validity of 18 months, starting from the date of the Resolution. The purchase transactions may be executed on the Euronext Growth Milan Market, in one or more times, in compliance with the legal and regulatory limits.

The maximum number of shares that can be potentially purchased under the Program is set in 4,460,000 shares. Revo has appointed Equita SIM S.p.A., as specialized broker, for the implementation of the Program. Equita SIM S.p.A. will negotiate any purchase in full indipendence and in compliance with the Resolution and the applicable regulation.

The details of the transactions executed under the Program will be promptly communicated to the market within the terms required by the applicable regulation.

As of the date of this press release, REVO and its subsidiaries don't hold own shares.

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

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 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.