Saras

Capital/Financing Update • May 13, 2022

Saras obtained from a pool of credit institutions a new facility agreement of EUR 312.5 million guaranteed by SACE

Milan, May 13th, 2022 - Saras S.p.A. (the "Company") announces to have entered today into a new loan agreement of EUR 312.5 million, assisted for 70% of the amount by the guarantee issued by SACE, thanks to the provisions of the «DL Sostegni bis». The new loan is intended to restructure the Group's debt maturity profile.

The loan was organized and entered by a pool of leading Italian financial institutions, consisting of Banco BPM, Intesa Sanpaolo - Divisione IMI Corporate & Investment Banking and UniCredit as Mandated Lead Arrangers and Lending Banks. Intesa Sanpaolo - Divisione IMI Corporate & Investment Banking will cover the role of Depository bank, Agent Bank and SACE Agent.

The disbursement will take place in a single instalment and the repayment plan provides for a pre-amortization period of 36 months and a repayment in 12 constant quarterly instalments starting from June 30th, 2025, and until March 31st, 2028, the expiry date of the loan.

The income will be used to repay in advance the EUR 200 million bond, expiring on December 28th, 2022, and the mediumlong term loan of EUR 50 million, expiring August 14th, 2023. The remaining EUR 62.5 million will be used to support the Company's working capital, in line with the provisions of the SACE regulation.

The legal counsel Gianni & Origoni assisted the Company, Chiomenti assisted the pool of financing banks, Clifford Chance assisted SACE.

Saras Investor Relations Ilaria Candotti Phone + 39 02 7737642 ir@saras.it

Press contacts

Comin & Partners Lelio Alfonso Phone +39 334 6054090 lelio.alfonso@cominandpartners.com

THE SARAS GROUP

The Saras Group, founded by Angelo Moratti in 1962, is one of the leading players in the European energy and oil refining industry. Through the Parent Company Saras S.p.A., and its subsidiaries, Saras Trading SA, based in Geneva, and Saras Energia SAU, based in Madrid, the Group sells and distributes oil products in the domestic and international markets. The Group also operates in the production of electricity, through its subsidiaries Sarlux S.r.l. (IGCC plant) and Sardeolica S.r.l. (wind plant). Moreover, the Group provides industrial engineering and research services to the oil, energy and environment sectors through its subsidiary Sartec S.r.l.. The Group has about 1,572 employees and total revenues of about EUR 8.6 billion as of 31 December 2021 (about EUR 5.3 billion as of 31 December 2020).