Cellularline — Capital/Financing Update 2020

Oct 29, 2020

PRESS RELEASE

CELLULARLINE S.p.A.: NEW EURO 70 MILLION LOAN AGREEMENT SUPPORTING MEDIUM/LONG-TERM GROWTH PLANS

• Extension and increase of the outstanding medium/long-term loan for Euro 50 million
• New Euro 20 million line for M&A, to support external growth

Reggio Emilia, 29 October 2020 - Cellularline, a European leader in the smartphone and tablet accessories sector listed on the Mercato Telematico Azionario - STAR Segment, announces that it has entered into a new loan agreement with Banco BPM S.p.A. and UBI Banca S.p.A. for a total of Euro 70 million.

***

In this transaction, Euro 50 million represents an extension to 20 June 2025 of the pre-existing medium/longterm loan (equal to Euro 45 million), which will enable the Company to obtain a 3 year extension of its financial debt maturities, resulting in greater financial flexibility deriving from a reduction in principal instalment repayments amounting to Euro 3.4 million per annum.

The new agreement also includes a line for acquisitions totalling Euro 20 million to support the external growth strategy, one of the main development actions pursued by the Group.

"We have finalised an agreement that has improved loan economic conditions and also extends the overall term of the contract by three years, increasing the flexibility of our debt structure. In addition, we have obtained a total of Euro 25 million in additional financial resources to accelerate our growth strategy through targeted acquisitions, in order to strengthen our presence in specific channels, geographical areas and high potential product families. This new contract also confirms the trust that the market places in our business model characterised by high cash generation capacity, which has been consistently demonstrated over time", commented Stefano Cerrato, Cellularline's Group Corporate & Financial Officer.

Cellularline acted through its internal Finance team and was assisted by Studio Legale Gattai, Minoli, Agostinelli & Partners for legal aspects, with a team consisting of Partners Lorenzo Vernetti and Andrea Taurozzi and Associate Giorgia Gentilini; Dentons Europe Studio Legale Tributario assisted Banco BPM S.p.A. and UBI Banca S.p.A., as lending banks, with a team consisting of Partner Alessandro Fosco Fagotto and Counsel Franco Gialloreti.

Founded in Reggio Emilia in 1990, Cellularline S.p.A. has a brand portfolio comprising Cellularline, PLOOS, AQL, MusicSound, Interphone and SKROSS and it is the leading company in the smartphone and tablet accessories sector. The Group is at the technological and creative forefront of the multimedia device accessories industry, striving to deliver products synonymous with outstanding performance, ease of use and a unique user experience. The Group currently has 240 employees. Cellularline brand products are sold in over 60 countries.

Cellularline S.p.A. - Investor Relations Barabino & Partners - Media Relations

E-mail: ir@cellularlinegroup.com Tel. +39 02 72023535

Federico Vercellino E-mail: f.vercellino@barabino.it Mobile: +39 331 5745171