Expert.Ai — Share Issue/Capital Change 2022

Dec 19, 2022

Informazione Regolamentata n. 20040-40-2022		Data/Ora Ricezione 19 Dicembre 2022 17:59:34	Euronext Growth Milan
Societa'	:	EXPERT.AI
Identificativo Informazione Regolamentata	:	170672
Nome utilizzatore	:	EXPERTSYSTN02 - Francesca Spaggiari
Tipologia	:	2.2
Data/Ora Ricezione	:	19 Dicembre 2022 17:59:34
Data/Ora Inizio Diffusione presunta	:	19 Dicembre 2022 17:59:35
Oggetto	:	End of the offering period of the capital increase
Testo del comunicato

Vedi allegato.

EXPERT.AI: END OF THE OFFERING PERIOD OF THE CAPITAL INCREASE

SUBSCRIBED 60.28% OF THE NEW SHARES FOR AN AMOUNT OF EURO 4,815,840.81

MAJOR SHAREHOLDERS AND TOP MANAGEMENT AMONG THE SUBSCRIBERS

OFFER ON EURONEXT GROWTH MILAN OF UNEXERCISED OPTION RIGHTS ON DECEMBER 21, 2022 AND DECEMBER 22, 2022

Modena, December 19, 2022

Expert.ai, a leading company in the Artificial Intelligence market (the "Company"), with shares listed on the Euronext Growth Milan multilateral trading system, organised and managed by Borsa Italiana S.p.A. ("EGM"), announces that today ended the period for the exercise of the option rights relating to the offer of a maximum no. of 13,097,683 expert.ai new ordinary shares (the "New Shares") resulting from the capital increase up to a maximum amount, including additional paid-in capital, of Euro 7,989,586.63, resolved by the Board of Directors on November 30, 2022, in partial execution, pursuant to Article 2443 of the Italian Civil Code, of the Extraordinary Shareholders' Meeting resolution dated 15 October 2021.

During the offering period, from December 5, 2022 to December 19, 2022 (both inclusive) (the "Offering Period"), a total no. of 31,579,284 option rights have been exercised and, therefore, no. 7,894,821 New Shares have been subscribed, equal to 60.28% of the total shares offered and corresponding to a total countervalue of Euro 4,815,840.81.

At the end of the Offering Period, no. 20,811,448 option rights have not been exercised (the "Unopted Rights"), which entitle to the subscription of a maximum number of no. 5,202,862 New Shares, corresponding to 39.72% of the total amount of the New Shares, for a total countervalue of Euro 3,173,745.82. The Unopted Rights will be offered by the Company on EGM, through Integrae SIM S.p.A., pursuant to Article 2441, paragraph 3, of the Italian Civil Code, in the sessions of December 21, 2022 and December 22, 2022, unless the offer is closed in advance in the event of full sale of the Unopted Rights.

Shareholders Ergo S.r.l. and Indaco Venture Partners SGR S.p.A. have fully subscribed to their respective shareholdings, respectively no. 1,121,166 and 513,912 New Shares, for a countervalue, respectively, of Euro 683,911.26 and Euro 313,486.32. The members of the top management who are also

shareholders of the Company subscribed to a total of no. 491,804 New Shares, for a total countervalue of Euro 300,000.44.

During the trading session of December 21, 2022, the total amount of the Unopted Rights will be offered while during the EGM session of December 22, 2022 any Unopted Rights not placed in the previous session will be offered.

The Unopted Rights will be offered on EGM with ISIN code IT0005523219.

The Unopted Rights grant the right to subscribe for New Shares, at the price of Euro 0.61 each, at a ratio of 1 New Share for every 4 Unopted Rights purchased. The exercise of the Unopted Rights purchased in the context of the EGM offer and, consequently, the subscription of the New Shares, shall be made through the authorised intermediaries belonging to the centralised management system of Monte Titoli S.p.A., under penalty of forfeiture, no later than December 23, 2022 (including in the event of early closure of the exercise period of the Unopted Rights), with the same value date.

The New Shares deriving from the exercise of the Unopted Rights will be credited to the accounts of the authorised intermediaries participating in the centralised management system of Monte Titoli S.p.A. at the end of the accounting day of the last day of exercise of the Unopted Rights and will therefore be available on that same date.

Any New Shares that remain unopted may also be placed with third parties, by the administrative body and in compliance with current regulations, by December 30, 2022.

Expert.ai (EXAI:IM) is a leading company in AI-based natural language software. Organizations in insurance, banking and finance, publishing, media and defense all rely on expert.ai to turn language into data, analyze and understand complex documents, accelerate intelligent process automation and improve decision making. Expert.ai's purpose-built natural language platform pairs simple and powerful tools with a proven hybrid AI approach that combines symbolic and machine learning to solve real-world problems and enhance business operations at speed and scale. With offices in Europe and North America, expert.ai serves global businesses such as AXA XL, Zurich Insurance Group, Generali, The Associated Press, Bloomberg INDG, BNP Paribas, Rabobank, Gannett and EBSCO.

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

Expert.ai Euronext Growth Advisor

IR Manager Integrae SIM S.p.A.

Stefano Spaggiari

ir@expert.ai Tel: +39 02 96 84 68 64 info@integraesim.it

Press Office

Francesca Spaggiari Tel. +39 059 894011