Expert.Ai — AGM Information 2024

Jun 21, 2024

Informazione Regolamentata n. 20040-37-2024	Data/Ora Inizio Diffusione 21 Giugno 2024 15:43:50		Euronext Growth Milan
Societa'	:	EXPERT.AI
Identificativo Informazione Regolamentata	:	192530
Utenza - Referente	:	EXPERTSYSTN02 - Francesca Spaggiari
Tipologia	:	1.1; REGEM
Data/Ora Ricezione	:	21 Giugno 2024 15:43:50
Data/Ora Inizio Diffusione	:	21 Giugno 2024 15:43:50
Oggetto	:	Ordinary Shareholders' Meeting: Approval of the financial statements as of Dec 31, 2023 and the allocation of the net result; New BoD appointment

Testo del comunicato

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PRESS RELEASE

Expert.ai: Ordinary Shareholders' Meeting

• Approval of the financial statements and examination of the consolidated financial statements as of December 31, 2023
• Approval of the allocation of the net result
• Appointment of the new Board of Director

June 21, 2024

Expert.ai S.p.A. (the "Company" or "Expert.ai"), leader in the implementation of enterprise artificial intelligence solutions to create business value, announces that today the Ordinary Shareholders' Meeting was held on second call, under the chairmanship of Dr. Dario Pardi.

The Shareholders' Meeting resolved as follows:

Approval of the financial statements and presentation of the consolidated financial statements as of December 31, 2023

The Shareholders' Meeting approved the financial statements as of December 31, 2023, and reviewed the consolidated financial statements as of December 31, 2023. Key consolidated economic and financial results as of December 31, 2023, include:

• Total Revenues: Euro 32,6 million (Euro 31,7 million)¹ ;
• Value of Production: Euro 39,1 million (Euro 40,5 million)
• EBITDA: Euro -0,2 million (Euro -14,4 million)
• EBIT: Euro -8,8 million (Euro -23,1 million)
• Net Financial Debt: Euro 21,8 million (Euro 15,8 million)
• Shareholders' equity: Euro 12,2 million (Euro 17,5 million)

At the level of the parent company, expert.ai S.p.A., the main economic and financial results are as follows:

• Total revenues: Euro 25,4 million (Euro 23,7 million)¹ ;
• Value of Production: Euro 31,7 million (Euro 32,0 million);
• EBITDA: Euro 3,8 million (Euro -2,6 million);
• EBIT: Euro -3,5 milion (Euro -9,3 million);
• Net result: Euro -23,3 million (Euro -17,0 million);
• Net Financial Debt: Euro 21,2 million (Euro 16,1 million);
• Shareholders' equity: Euro 50,1 million (Euro 68,7 million).

1 The economic and financial data in parentheses refer to December 31, 2022

Proposal for the allocation of the net result

The Shareholders' Meeting resolved to propose to carry forward the loss for the year amounting to Euro 23,262,877.

For further information, please refer to the press release issued on April 24, 2024, following the Board of Directors' resolution to approve the draft financial statements and consolidated financial statements as of December 31, 2023, available on the Company's website at www.expert.ai/it/investor-relations/comunicati-finanziari/.

Appointment of the Board of Directors

The Shareholders' Meeting appointed the new Board of Directors of expert.ai, based on three lists presented by the shareholders, setting the number of members at 11 (eleven) and defining the term of office as 1 (one) fiscal year, i.e., until the approval of the financial statements for the year ending December 31, 2024.

Specifically, the following were appointed: 9 (nine) members from list no. 1 presented by the shareholder GUM Group S.p.A., holding 5,100,000 ordinary shares, equal to 7.40% of the share capital; 1 (one) member from list no. 2 presented by the shareholder Marco Varone, holding 2,303,220 ordinary shares, equal to 3.34% of the share capital;

1 (one) member from list no. 3 presented by the shareholder Stefano Spaggiari, holding 2,301,504 ordinary shares, equal to 3.34% of the share capital.

The Shareholders' Meeting also: (i) appointed Dr. Dario Pardi as Chairman; (ii) determined the remuneration of the Board members; (iii) resolved on the removal of the non-compete obligation pursuant to Article 2390, paragraph 1, Civil Code.

The new Board of Directors is composed as follows:

• Dario Pardi (Chairman of the Board of Directors)
• Sara Polatti
• Ettore Leale (*)
• Marco di Teodoro (*)
• Andrea Gabola (*)
• Stefano Pedrini (*)
• Roberto Sambuco (*)
• Ambrosella Landonio (*)
• Nicola Ciniero (*)
• From list no.1
• Marco Varone From list no.2
• Stefano Spaggiari From list no.3

(*) candidate self-declared to meet the independence requirements pursuant to Article 147-ter of Legislative Decree 58/1998 and Article 2399 of the Civil Code.

The curricula vitae of the directors and additional supporting documentation are available at the Company's headquarters, as well as on the Company's website at https://www.expert.ai/it/investor-relations/documenti-societari-e-assemblee/ and on the website www.borsaitaliana.it – Azioni / Documenti section.

***

DOCUMENTATION DEPOSIT

The minutes of the Shareholders' Meeting and the summary report of the votes will be made available to the public within the legal terms at the Company's headquarters, as well as published on the institutional website www.expert.ai and on the website www.borsaitaliana.it – Azioni / Documenti section.

***

This press release is available on the Company's website *www.expert.ai and on *

Expert.ai specializes in deploying enterprise AI solutions to create business value, listed on the Euronext Growth Milan market (EXAI), and operates in Europe and North America. Applying a proven framework for innovation, expert.ai supports companies and public administrations in digital transformation, exploiting AI capabilities for various processes and use cases, through a responsible, transparent and sustainable approach focusing on people, problem-solving and goal achievement. With over 25 years of experience in natural language solutions, the company boasts hundreds of successful implementations achieved through concrete projects, based on the integration of the best technologies available on the market with proprietary ones (knowledge graphs, automatic learning - machine/deep learning techniques, large language models, and generative AI). Banks, financial institutions, insurers, publishing companies, public administrations, healthcare, defense, and intelligence organizations choose expert.ai solutions to scale knowledge automation, efficiently manage vast volumes of information, improve decision-making processes, and enable new levels of efficiency by leveraging the right data at the right time and with great speed. The Company serves directly and through partners such as AXA XL, Zurich Insurance Group, Generali, Sanofi, EBSCO, The Associated Press, Bloomberg INDG, Dow Jones, and other prominent entities. Dario Pardi, with decades of experience at major ICT multinationals, serves as President, CEO, and reference shareholder of expert.ai.

For more information: https://www.expert.ai/

Contacts

Expert.ai CDR Communication Srl Investor Relations Investor Relations Euronext Growth Advisor Stefano Spaggiari Vincenza Colucci Integrae SIM S.p.A. ir@expert.ai vincenza.colucci@cdr-communication.it info@integraesim.it Tel. +39 335 6909547 Tel: +39 02 9684 6864 Comunicazione Media Relations Specialist Francesca Spaggiari Martina Zuccherini MIT SIM S.p.A.

ufficiostampa@expert.ai martina.zuccherini@cdr-communication.it andrea.scarsi@mitsim.it

Tel. +39 059 894011 Tel. +39 339 4345708 Tel. + 39 02 30561 276

Fine Comunicato n.20040-37-2024	Numero di Pagine: 6