Itway S.p.A

The Itway - Mercatoria Agreement provides, inter alia, for a debt reduction of 67% with a payment in 36 monthly instalments starting from June 2020, and a further debt reduction is expected to be 62% in case of early repayment as of December 31, 2021. Itway has committed itself to compliance with certain financial parameters both on a quarterly and on an annual basis and has granted Mercatoria a "call" option on 390,000 shares of its own at the two-year Euro 1 strike price, starting on January 1, 2023.