CONVERSION OF UNLISTED CLASS B SHARES INTO LISTED ORDINARY SHARES AS FROM TODAY’S DATE

Milan, 28 December 2017 - Further to the press release issued on today’s date - to which we refer - by Pirelli & C. S.p.A., Intesa Sanpaolo S.p.A., UniCredit S.p.A. and Fenice S.r.l. (the "Vendors”), on one part, and Burlington Loan Management DAC - an Irish investment vehicle managed by Davidson Kempner Capital Management LP - and Lavaredo S.p.A. (the ”Buyer”), on the other part, also announcing the completion of the closing of the purchase and sale transaction of a total of 611,910,548 Prelios shares held by the Vendors
- that had been announced to the market with press releases of 26 July and 3 August 2017, Prelios S.p.A. ("Prelios” or the "Company”) announces that, as set forth by the Articles of Association, the conditions for the automatic conversion (the "Conversion”) of 210,988,201 unlisted class B shares, without voting rights (ISIN code IT0004936024) into listed Prelios ordinary shares (ISIN code IT0004923022), are applicable.
The Conversion - at the conversion rate of 1 (one) ordinary share for 1 (one) Class B share
- took place on today’s date.
After the Conversion, the fully subscribed and paid up share capital of Prelios will be 55,686,524.26 Euro subdivided into 1,364,087,011 ordinary shares, with no par value and with regular dividend rights.