Revo Insurance

Earnings Release • Jul 16, 2021

PRESS RELEASE

REVO: APPROVED HALF-YEAR 2021 FINANCIAL REPORT

Milan, 16th July 2021

The Board of Directors of REVO S.p.A. on 15th July 2021, headed by Claudio Costamagna, has examined and approved the half-year 2021 financial report.

The summary balance sheet and profit and loss account are the following:

BALANCE SHEET

ASSETS	30/06/2021
A) SHARE CAPITAL PROCEEDS TO BE RECEIVED
Total share capital proceeds to be received	0
B) FIXED ASSETS
Total intangible fixed assets	2.239
Total fixed assets	2.239
C) CURRENT ASSETS
Total tax receivables	180.000
Total liquid funds	226.572.055
Total current assets	226.752.055
D) PREPAYMENTS AND ACCRUED INCOME
Total prepayments and accrued income	0
TOTAL ASSETS	226.754.294

LIABILITIES	30/06/2021
A) NET EQUITY
I - Share capital	23.055.000
II - Share premium reserve	207.045.000
IX - Net profit for the year	-3.638.520
Total net equity	226.461.480
B) PROVISIONS FOR RISKS AND CHARGES
Total provisions for risks and charges	0
C) EMPLOYEES' LEAVING ENTITLEMENT
Total employees' leaving entitlement	1.133
D) PAYABLES
Total payables to other lenders	1.091
Total trade payables	211.484
Total tax payables	32.748
Total social security charges payable	12.396
Total other payables	33.962
Total payables	291.681
E) ACCRUED EXPENSES AND DEFERRED INCOME
Total accrued expenses and deferred income	0
TOTAL LIABILITIES	226.754.294

PROFIT AND LOSS ACCOUNT FROM 4/03/2021 TO 30/06/2021

	30/06/2021
A) PRODUCTION REVENUES:
Total production revenues	180.001
B) PRODUCTION COST:
7) Services	3.667.925
8) Use of third party assets	4.107
Total personnel expenses	62.124
Total amortisation, depreciation and write-downs	249
14) Other operating costs	1.607
Total production cost	3.736.012
Operating profit (A-B)	-3.556.011
C) FINANCIAL INCOME AND CHARGES
Total financial income and charges (C) (15+16-17+-17-bis)	-82.509
D) ADJUSTMENTS TO FINANCIAL ASSETS
Total adjustments to financial assets (18-19)	0
Pre-tax profit (A-B+-C+-D)	-3.638.520
21) NET PROFIT FOR THE YEAR	-3.638.520

This press release is available on websites www.revo-spac.com and

For more information please contact the following:

Investor Relations Manager Jacopo Tanaglia Tel. 045 - 8531662 e-mail: investor@revo-spac.com

REVO S.p.A. Equita SIM S.p.A.

NomAd e Specialista Via Turati 9, 20121, Milano Tel.: 02 62041 e-mail: revo@equita.eu

Media Relation

Incontra - Studio Cisnetto Enrico Cisnetto / Gianluca Colace / Massimo Pittarello Tel.: 06 - 4740739

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REVO (www.revo-spac.com) is a Special Purpose Acquisition Company (SPAC) promoted by Alberto Minali, Claudio Costamagna, Stefano Semolini, Simone Lazzaro and Jacopo Tanaglia. REVO's objective is to create a leading insurance company focused on specialty lines and parametric risks cover, primarily dedicated to SMEs. Achieving a Business Combination with a European player in this segment will enable REVO to start integrating a number of underwriters and MGAs in the specialty lines segment and developing the parametric business. REVO will have a lean structure and will employ cutting-edge technology to optimize and streamline both underwriting and claims management processes, including via the use of blockchain-based technologies.

REVO S.p.A.