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DeA Capital: net profit of 23.8 million euros

The Board of Directors approved the financial statements at 31 December 2021

The board of directors of DeA Capital SpA met, chaired by Lorenzo Pellicioli, to examine and approve the consolidated financial statements of the Group and the draft financial statements of the parent company at 31 December 2021. Paolo Ceretti, CEO of the DeA Capital Group, declared: “in 2021 we achieved very positive results, continuing the growth trend that we have been recording for several years now. It is evident that the recent tensions linked to the war in Ukraine are defining a decidedly complicated framework of reference and of an as yet unclear scope; however, we are convinced that we can better face even the most negative scenarios thanks to our management teams of absolute excellence, the quality of the assets in the portfolio and the solidity of our balance sheet".

At 31 December 2021 the Group reported a Combined Assets Under Management of approximately 26,500 million Euros, an increase of 11% compared to 31 December 2020. The net result of the Group was also positive for 23.8 million Euros, an increase compared to the 20.4 million euros recorded at 31 December 2020. The consolidated net financial position was also positive for 135.9 million euros (of which 98.2 million euros pertaining to the Holdings companies), compared to the "adjusted" figure (for the distribution of the extraordinary dividend of 26.1 million euros in May 2021) of 99.9 million euros recorded at the end of 2020. The result is essentially attributable to the operating cash flow of the Alternative Asset Management platform and the divestment of the remaining indirect stake in Migros (+ € 19.5 million).

In particular, in the Real Estate segment, new initiatives for Assets Under Management totaling approximately 1,900 million euros were finalized. In the context of Credit, new assets for approximately 33 million euros were transferred to the Ccr II fund, bringing its overall size up to approximately 700 million euros. In the field of Private Equity, the collection of new Aum amounted to approximately 200 million euros, mainly attributable to an investment advisory mandate for the selection of closed-end funds in the infrastructure, on a collection pool equal to approximately 130 million euros. Euro and new closing of the IDeA Agro and sustainable development funds, respectively for 28 million euros and 21 million euros.

The financial statements as at 31 December 2021 show a profit of € 28.4 million. Lastly, the board of directors resolved to submit the partial distribution of the share premium reserve to the extent of € 0.10 per share for the approval of the shareholders' meeting, as an extraordinary dividend.

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