Saras

M&A Activity • Jun 13, 2024

PRESS RELEASE ISSUED AT THE REQUEST AND ON BEHALF OF VITOL B.V.

PRESS RELEASE

Satisfaction of all conditions precedent to the closing of the acquisition of a shareholding in Saras S.p.A.

Closing of the transaction set for by the end of June 2024

On closing, a mandatory tender offer shall be launched on the remaining Saras shares

Milan, June 13, 2024 – Further to the press release issued on February 11, 2024 announcing the signing by Massimo Moratti S.a.p.A. di Massimo Moratti, Angel Capital Management S.p.A., and Stella Holding S.p.A. (collectively the "Moratti family") and Vitol B.V., ("Vitol") of a sale and purchase agreement (the "SPA") pursuant to which the Moratti family has undertaken to sell to Vitol a shareholding in Saras S.p.A. ("Saras") representing approx. 35% of share capital (the "Transaction"), it is announced that:

• Vitol received, on 12 June 2024, clearance in the matter of foreign subsidies from the European Commission, and
• all conditions precedent to the closing of the Transaction provided in the SPA have now been met. Therefore, the closing of the Transaction is expected to take place by the end of June 2024 at the latest.

As previously announced, as a result of the closing of the Transaction, among other matters, Vitol, through a special purpose vehicle, will be required to launch a mandatory tender offer for the remaining Saras shares. Further information on the mandatory tender offer will be contained in the notice that will be published on the closing date of the Transaction, pursuant to Article 102, paragraph 1, of Legislative Decree No. 58 of 24 February 1998.