Ovs - Capital/Financing Update 2021

PRESS RELEASE

NOTICE OF INTEREST RATE AND YIELD

FOR THE SUSTAINABILITY-LINKED BOND FOR AN AMOUNT UP TO €200,000,000

Venice, 25 October 2021– Following the press release published on 15 October 2021 and the publication of the prospectus (the "Prospectus") relating to the public offering (the "Offering") and admission to trading of the senior unrated, unsecured, non-convertible bond (the "Bond") to be issued by OVS S.p.A (the "Company"), and approved by the Central Bank of Ireland on 14 October 2021 and passported to Italy on 15 October 2021, in addition to the Prospectus, the interest rate and yield of the Bonds are announced.

The Interest Rate of the Bonds will be 2.25% on an annual basis. Based on the Interest Rate and taking into account the issue price equal to 100% of the nominal value, the Bond yield will be equal to 2.25% per annum. The Yield indicated in this paragraph is calculated as the yield to maturity on the issue date (the "Issue Date") of the Bonds and is not an indication of future yield.

Furthermore, as described in the Prospectus, in the KID (Key Information Document) relating to the Bonds and in the Sustainability-Linked Bonds Framework relating to OVS' sustainability objectives available to the public on the Company's website, please note that given the sustainability-linked feature of the Bonds, the Interest Rate of the Bonds will be increased, until the maturity date of the Bonds, by a margin equal to up to 0.25% per annum for each interest period commencing on or after the interest payment date immediately following OVS' failure to achieve certain sustainability performance targets in relation to certain key performance indicators provided under the Terms and Conditions of the Bonds by 2024, or in case of failure of OVS to report on such key performance indicators by the deadlines provided in the Terms and Conditions of the Bonds.

Moreover, it is to be noted that the Issue Date of the Bonds will start on 27 October 2021 at 9.00 (CET) and will end on 3 November 2021 at 17.30 (CET), subject to postponement, early closing or amendment, by the Company and the placement agent Equita S.I.M. S.p.A

Equita S.I.M. S.p.A. will act as the placement agent of the Offering and has been appointed by the Company to offer and display the Notes for sale on the MOT.

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.

Moreover, further information concerning the aggregate principal amount of the Notes, the number of Notes sold and the proceeds of the Offering will be disclosed no later than the first Business Day after the end of the Offering Period.

25 October 2021

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.

For more information: Federico Steiner Investor Relations OVS S.p.A. Barabino & Partners SpA [email protected] E-mail: [email protected] Via Terraglio n. 17, 30174, Mobile +39 335.42.42.78 Venice – Mestre

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.