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KALEON: FULL EXERCISE OF THE GREENSHOE OPTION

Milan, 30 December 2025 – Kaleon S.p.A. ("Kaleon" or the "Company") – company owned by the Borromeo family specialising in the management and enhancement of important artistic, natural and museum assets for tourism purposes, listed on the Euronext Growth Milan and Euronext Growth Paris markets – announces the full exercise of the greenshoe option for a total of 375,000 ordinary shares, granted for sale by the majority shareholder L6A4 S.r.l., in favour of Equita SIM S.p.A., as Global Coordinator, and TP ICAP Europe SA, as Co-Global Coordinator (the "Greenshoe Option"). The stabilisation period ends with the exercise of the Greenshoe Option.

The reference price of the ordinary shares covered by the Greenshoe Option is €4.00 per share – corresponding to the offer price established during the Placement – for a total value of €1.5 million.

The settlement of the shares subject to the greenshoe option will take place on 30 December 2025, with value date 30 December 2025.

Following the full exercise of the Greenshoe Option under the terms indicated above, the Offer involved a total of 4,500,000 ordinary shares of Kaleon, for a total value of €18 million.

The table below illustrates the composition of the Company's share capital, represented by 14,125,000 ordinary shares, following the full exercise of the Greenshoe Option and updated following purchases on the market carried out by L6A4 S.r.l. and already disclosed in accordance with current regulations on internal dealing.

Shareholders	Number of ordinary shares	% share capital	% voting rights
L6A4 S.r.l.	9,718,341	68.80%	68.80%
Free Float	4,406,659	31.20%	31.20%
Total	14,125,000	100%	100%

Following the exercise of the Greenshoe Option, TP ICAP Europe S.A. will act as liquidity provider on the Euronext Growth Paris market, while Equita SIM S.p.A. will act as Specialist on the Euronext Growth Milan market.

For further information on the Greenshoe Option, please refer to the admission document available on the Company's website kaleon.com, in the Investor Relations section.

For the dissemination and storage of Regulated Information, the Company makes use of the eMarket SDIR transmission system and the eMarket STORAGE storage mechanism, accessible at emarketstorage.it and managed by Teleborsa S.r.l., with registered office in Rome, Piazza di Priscilla 4.

This press release is available in the Investor Relations – Price Sensitive Press Releases section of the Company's website kaleon.com and on emarketstorage.it.

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About Kaleon:

Kaleon is the new name of SAG S.r.l., a company founded in 1983 by the Borromeo family and specialized in the management, protection, and enhancement of major artistic, natural, and museum assets. Its business model is innovative, separating asset management from asset ownership and thereby enabling a fully managerial approach to operations. The Company's core business, Terre Borromeo, is the brand identifying the prestigious cultural and natural sites on Lake Maggiore associated with the Borromeo family, including Isola Bella and Isola Madre in the Borromeo Gulf within the Borromean Islands archipelago; Parco Pallavicino in Stresa; Parco del Mottarone, a 500-hectare woodland area extending between Lake Maggiore and Lake Orta; the Rocca di Angera, on the Lombardy side in the Province of Varese; and the Castelli di Cannero, in the upper Verbano area, opened to the public on 28 June 2025 following a 10-year restoration project. With 194 employees as of 30 June 2025 and more than 40 years of experience in the tourism sector, Kaleon is positioned as a pioneer in high-quality cultural tourism. In 2023, Kaleon welcomed over 1 million visitors. In 2024, the Company generated revenues of EUR 21.7 million, with an operating margin of approximately 25%. Following a steady growth path (2015–2024 CAGR +10%), the Company now aims to expand its activities both in Italy and abroad, offering authentic and sustainable cultural experiences for future generations.

For further information: https://kaleon.com/

Contacts:

Kaleon S.p.A.

Investor relations manager

Alessandro Pedrazzini

[email protected] - +39 3389377354

Head of Communication

Giorgia Meretti

[email protected] +39 3386727571

Barabino & Partners

Stefania Bassi

[email protected] - +39 335 628 2667

Carlotta Bernardi

[email protected] - +39 333 947 7814

Virginia Bertè

v.bertè@barabino.it - +39 342 978 7585

AI Terminal

Kaleon Az

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