Fope — M&A Activity 2020

May 12, 2020

FOPE: ACQUISITION OF THE MAJORITY STAKE CANCELLED

Vicenza, 11th May 2020

FOPE S.p.A., an Italian goldsmith, leading player in the high-end jewellery sector, listed on AIM Italia ("FOPE"), following its disclosures made on 21st and 28th February and 9 th April 2020, hereby informs that CoMo has notified the Cazzola family of its decision not to purchase the Company's shares and not to launch the required mandatory tender offer, due to the ongoing exceptional public health emergency and since the conditions precedent for the transaction were not fulfilled. The Cazzola family members have acknowledged this decision and the fact the transaction will not occur, and have concurrently renewed their confidence in the future of the company and its employee as well as their commitment in managing FOPE in the interest of all stakeholders.

The press release is available on the websites www.fopegroup.com and

FOPE (FPE:IM) is a historic Italian jewellery company established in Vicenza in 1929 and a leader in the fine jewellery market. With Euro 35 million in revenues in 2019, 46 employees, and a strong international presence (it generates 82% of its revenues abroad), FOPE pursues a strategic growth project based on expanding and consolidating the brand in the international luxury market by leveraging 4 competitive advantages: product quality, perfect combination of Made-in-Italy craftsmanship and technology, recognisable design, and long-standing customer relationships. FOPE operates globally through a well-established and select network of over 600 stores in 50 countries (with a direct presence in the US, Arab, and UK markets through the subsidiaries FOPE USA Inc., FOPE Services DMCC, and FOPE Jewellery Limited, respectively). The business model focuses on maintaining direct business relationships with multi-brand jewellery retailers (either independent or part of groups) that specialise in luxury products such as fine jewellery and watches. FOPE does not work with intermediaries: instead, it enters into direct partnerships that ensure the loyalty and reliability of the customer/retailer as well as an outstanding after-sale service. In 2015, the Company opened its first mono-brand store in Venice's Piazza San Marco. The entire production cycle—from prototyping to the shipping of finished jewels to over 50 countries takes place inside the headquarters in Vicenza. FOPE's investments in R&D have led to an extremely high level of standardisation and automation, with proprietary technology that allows to optimise processes and times in order to deliver products of world-class quality. FOPE's jewels range from timeless classics featuring the iconic Novecento mesh to the more recent Flex'it lines, which include the original bracelets made flexible thanks to a patented system of tiny gold springs embedded in the mesh—strikingly elegant collections that always stand out in terms of comfort and portability. FOPE has obtained the voluntary TF (Traceability & Fashion) certification and is a certified member of the Responsible Jewellery Council.

ISIN ordinary shares: IT0005203424 –ISIN "FOPE POC 4.5% 2016-2021": IT0005203671

CONTACTS

IR TOP CONSULTING

INVESTOR RELATIONS Maria Antonietta Pireddu, m.pireddu@irtop.com │ Federico Nasta, f.nasta@irtop.com | T +39 0245473884

FINANCIAL MEDIA RELATIONS Domenico Gentile, d.gentile@irtop.com │ Antonio Buozzi, a.buozzi@irtop.com | T +39 0245473884

INTEGRAE SIM

NOMAD | T +39 02 87208720 │ Via Meravigli 13, Milano