Partial Demerger of FAMI S.r.l.

COMMUNICATION

Subject: Partial Demerger of FAMI S.r.l.

Dear Sirs,

We hereby wish to inform you that, with the notarial deed dated 30th March 2020, drawn up by the notary Giuseppe Fietta of Bassano del Grappa (Italy) (deed no. 229,207, vol. no. 88,899), the

partial demerger
of

FAMI S.r.l., with registered office in Via Stazione Rossano no. 13, Rosà (VI), Italy, fully paid-up share capital 100,000.00 Euro, tax number and registration number 03498610249 at the Vicenza Register of Companies, registration number VI -330190 at the R.E.A. (Economic and Administrative Register) of Vicenza (hereinafter referred to for brevity as “FAMI”) was finalised

in favour of

iMILANI S.r.l., with registered office in Via Indipendenza no. 5, Rosà (VI), Italy, fully paid-up share capital 10,000.00 Euro, tax number and registration number 05060080263 at the Treviso Belluno Register of Companies, registration number TV-422660 at the R.E.A. (Economic and Administrative Register) of Treviso (hereinafter referred to for brevity as “IMILANI”).

The aforementioned Demerger shall come into force on 1st April 2020 (the “Commencement Date”).

By effect of the Demerger, IMILANI was assigned the business unit previously run by FAMI pertaining to (i) the production and commercialisation of boxes, containers, pallets, plastic containers and accessories, as well as (through the subsidiary GAM S.r.l.) (ii) the study, production and sale of furnishings and upholstery for public or private didactic facilities (hereinafter referred to as the “Plastic Unit/GAM”).

FAMI shall retain the business unit involving (i) the production and commercialisation of metal products and accessories, including cabinets, tanks and ecological supports for drums and tanks, steel frames, wall units and benches, chairs, vises, trolleys, movable ladders, boxes, containers, pallets, metal shelving and buckets, and metal cabinets, scaffolding, containers and other furniture and accessories, and (ii) the production and assembly of equipment, components and accessories for equipping commercial vehicles (the “Metal/StoreVan Unit”). In the immediate follow-up to the Demerger, FAMI will also operate as an authorised dealer of plastic products manufactured by IMILANI.

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We hereby specify that:

• the payment of invoices issued by FAMI towards you
• the payment of invoices issued by you towards FAMI,

prior to the Commencement Date will be made as agreed without the need to fulfil any other obligations.

For any further information, also with regard to the continuation of any whatsoever ongoing contractual relationship, you can contact FAMI or IMILANI at the following addresses and numbers:

Furthermore, the Demerger entailed the transfer of personal data, master records, and asset and income data (hereinafter referred to as “Personal Data”) contained in the documents and computer records of all interested subjects, namely the customers and suppliers to which the Demerger refers (hereinafter referred to as “Interested Parties”).

By effect of this Demerger pursuant to Regulation (EU) 679/2016 (“GDPR”) and Italian Legislative Decree no. 196/2003 as subsequently amended (the “Privacy Code”), IMILANI, within the limits of the rights acknowledged by the Demerger, becomes the owner of the Personal Data previously processed by FAMI in its capacity as Data Controller.

In accordance with the provisions of the Decision of the Italian Data Protection Authority dated 8th April 2009 (Official Gazette no. 106 of 9th May 2009), FAMI is compelled to provide an updated version of the Privacy Disclosure with specific reference to the Demerger. This obligation has been fulfilled through the publication of this privacy disclosure on the website www.famispa.com

*°*°*

Yours faithfully.

Rosà (VI)/Treviso, 2nd April 2020.