Ovs - Capital/Financing Update 2021

PRESS RELEASE

OVS SUSTAINABILITY-LINKED BOND

RESULTS OF THE OFFERING

Venice, 3 November 2021 – OVS S.p.A. (the "Company"), following the press releases published on 11 October 2021, 15 October 2021, 25 October 2021 and 28 October 2021, with regard to the public offering (the "Offering") of the sustainability-linked senior unrated, unsecured, nonconvertible and unsubordinated bond "Senior Unsecured Fixed Rate Notes due November 2027" (the "Bonds"), announces the final results of the Offering.

Within the offer, Bonds were underwritten for an aggregate principal amount of Euro 160,000,000 at an issue price of 100% of the nominal value, represented by no. 160,000 Bonds with a nominal value of €1,000 each. The gross proceeds of the Offering will amount to Euro 160,000,000. The interest rate and the gross annual yield of the Notes is 2.25% on an annual basis.

As already anticipated, with the proceeds of the Bond issue, the Group's financial structure, already strengthened thanks to the recent capital increase and the excellent performance in terms of cash flows, which continued in the third quarter of the year, will be further improved, allowing a significant reduction in the cost of debt. The instrument will make it possible to release financial resources for the pursuit of OVS's challenging sustainability targets, as set out in the sustainability-linked features of the Bond.

It is to be noted that the Trading Start Date, which corresponds to the date on which investors will pay the Issue Price of the Notes and the date on which interest on the Notes will begin to accrue, will be definitively announced by Borsa Italiana S.p.A. ("Borsa Italiana") with a notice, in accordance with Article 2.4.3 of the Regulation for markets organized and managed by Borsa Italiana.

Within the Offer, Equita S.I.M S.p.A. acted as placement agent and was appointed by the Company to offer and display the Notes for sale on the MOT. In connection with the offering, Latham & Watkins acted as legal advisor to the issuer and to the placement agent. PWC acted as the Company's auditor.

Further information is available in the Prospectus, which is available to the public on the company's website https://www.ovscorporate.it/en/sustainability-linked-finance.

3 November 2021

For more information: Barabino & Partners SpA [email protected] E-mail: [email protected] Via Terraglio n. 17, 30174, Mobile +39 335.42.42.78 Venice – Mestre

Federico Steiner Investor Relations OVS S.p.A.

OVS SpA

Sede legale: Via Terraglio, 17 30174 Venezia Mestre, Italy T +39 041 2397500 F +39 041 2397630 N. Iscrizione Reg. Imprese Venezia C.F. e P.I. 04240010274

www.ovscorporate.it

Capitale sociale euro 290.923.470,00 i.v.

NOT INTENDED FOR DISCLOSURE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, BY OR TO PERSONS LOCATED OR RESIDING IN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR ANY JURISDICTION IN WHICH SUCH CONDUCT REQUIRES AUTHORIZATION BY LOCAL AUTHORITIES OR IS OTHERWISE PROHIBITED BY THE APPLICABLE LAW.

This press release and the information contained herein do not include or constitute an offer to sell securities or a solicitation of an offer to purchase securities in the United States of America, Australia, Canada or Japan or any other country in which such offer or solicitation would require authorization by local authorities or otherwise is prohibited by the applicable law (the "Other Countries").

This press release, any part hereof or its distribution may not form the basis of, nor be relied upon in respect of, any investment agreement or decision. The securities have not been and will not be registered in the United States of America under the United States Securities Act of 1933, as amended (the "Securities Act"), or under the laws of the Other Countries. The securities may not be offered or sold in the United States of America unless they are registered under the Securities Act or there is an exemption from registration under the Securities Act. OVS S.p.A. does not intend to register any part of the Offer in the United States of America.

This press release does not constitute an offer to sell or a solicitation of an offer to purchase or subscribe for securities. This press release has been prepared on the basis that any offer of securities to which it refers in the United Kingdom and in any Member State of the European Economic Area subject to the Prospectus Regulation will be made on the basis of a prospectus approved by the competent authority and published in accordance with the Prospectus Regulation and/or under an exemption in the Prospectus Regulation from the requirement to publish a prospectus for offers of securities.

The term "Prospectus Regulation" means Regulation (EU) 2017/1129 (that Regulation and any amendments thereto, together with any delegated and implementing acts). This document does not constitute a prospectus within the meaning of the Prospectus Regulations. Investors should not subscribe for any securities referred to in this document except on the basis of the information contained in the relevant prospectus

OVS SpA

Sede legale: Via Terraglio, 17 30174 Venezia Mestre, Italy T +39 041 2397500 F +39 041 2397630 N. Iscrizione Reg. Imprese Venezia C.F. e P.I. 04240010274

www.ovscorporate.it

Capitale sociale euro 290.923.470,00 i.v.