BoD approves 1Q 20 results and Put option Cifarelli

Board of Directors of Emak S.p.A.

Approved consolidated results for the first quarter 2020

Revenues from sales: € 118 million compared to € 122.4 million in the first quarter 2019.

EBITDA: € 13.9 million compared to € 14.1 million in the first quarter 2019.

EBIT: € 8.4 million compared to € 9 million in the first quarter 2019.

Consolidated net income: € 3.8 million compared to € 6.1 million in the first quarter 2019.

Net negative financial position: € 180.7 million compared to € 164.4 million at 31 March 2019 and € 146.9 million at 31 December 2019.

Approved exercise of Put option on 30% of the Cifarelli shareholding