Ediliziacrobatica

Share Issue/Capital Change • May 20, 2019

PRESS RELEASE

EDILIZIACROBATICA S.p.A. RESOLUTION OF PAS ACTION CONVERSION IN ORDINARY SHARES

Genoa, May 20th 2019 - The Board of Directors of EdiliziAcrobaPca S.p.A has today approved the conversion of the PAS Shares.

It should be noted that the Company, confident in its earnings capacity, undertook in the IPO to reach a target of 2018 EBITDA of Euro 4.2 million net of the effects of the lisPng process; in the event of failure to reach the threshold indicated above, the PAS (Price Adjustment Share) mechanism provided for the progressive cancellaPon of up to 20% of the shares held by the historic shareholders. The 2018 financial year closed with the exceeding of this target for a normalized 2018 EBITDA (net of the accounPng effects of the lisPng) equal to approximately Euro 4.5 million.

Therefore, the Company communicates the resoluPon of the complete conversion of the n. 1,200,000 Price Adjustment Share (PAS) shares, ISIN code IT0005351512, in ordinary shares ISIN code IT0005351504, in the report of no. 1 (one) ordinary share every n. 1 (one) Price Adjustment Share held. Following the conversion, the Company's share capital consists of n. 7,725,300 ordinary shares, ISIN code IT0005351504.

This conversion was approved by the Board of Directors on May the 20th 2019, subject to the acquisiPon of the favorable opinion of the independent auditors Deloife & Touche SpA and will take place within 4 working days.

As a result of the Conversion of the Price Adjustment Shares into ordinary shares, the Board of Directors will: (a) carry out all the necessary communicaPons in the centralized management system of the financial instruments pursuant to arPcles 83-bis and following of LegislaPve Decree 58 / 1998, as subsequently amended, with regard to the conversion, the cancellaPon of the Price Adjustment Shares that may remain following the Conversion and the issue of the ordinary shares; (b) to deposit the text of the by-laws with the consequent modificaPons, including the modificaPon of the total number of shares in which the share capital is divided, pursuant to arPcle 2436, paragraph 6 of the Civil Code, to any related formaliPes.

For more informaPon, see the "PAS Prospectus" available on the company website www.ediliziacrobaPca.com, "Investor RelaPons" secPon, within the terms of the law and in ArPcle 3 of the ArPcles of AssociaPon.