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INFORMATION DOCUMENT Made Available On INFORMATION DOCUMENT Made available on April 23, 2021, prepared on a voluntary basis in accordance with the indications set out in Model 3 of Annex 3B, as referred to in Article 71 of the Regulation implementing Legislative Decree no. 58 of February 24, 1998, concerning the regulation of issuers, adopted by Consob Resolution no. 11971 of May 14, 1999, as amended relating to CONTRIBUTION IN KIND OF THE BUSINESS DIVISION NAMED “ITALY DIVISION” by Amplifon S.p.A. by way of full payment of a capital increase for a wholly owned subsidiary AMPLIFON S.P.A. Registered office located at via Ripamonti, 131/133, 20141 Milan, Italy Share capital: €4,527,772.40 Companies Register and Tax ID no. 04923960159 - REA MI [Economic and Administrative Index] - 1064063 April 23, 2021 1 Amplifon S.p.A. has exercised the right to derogate from the obligation to publish an information document relating to acquisitions and disposals, provided for in Article 71 of Consob Regulation no. 11971 of May 14, 1991, as amended (hereinafter the “Issuers’ Regulation”). In view of the importance of the operation described below, Amplifon S.p.A. has considered it appropriate to provide, through the publication of this informative document, adequate information to the public regarding the operation involving the contribution in kind of a business division, belonging to Amplifon S.p.A., to a newly or recently established limited liability company, the share capital of which is owned entirely by Amplifon S.p.A. (the “Operation”). This information document has therefore been prepared, on a voluntary basis, in accordance with the indications set out in Model 3 of Annex 3B of the Issuers’ Regulation, as referred to in Article 71 of the Issuers’ Regulation, concerning significant acquisitions and disposals. In accordance with Article 6 of Consob Regulation no. 17221 of March 12, 2010, as amended (“Regulation 17221/2010”), the Receiving Company (as defined in this informative document) is a related party of Amplifon S.p.A., which owns its entire share capital. The Operation is not subject to the procedures relating to transactions with related parties under the exemption provided for in Article 14(2) of Regulation 17221/2010 and Article 4.2(d) of the Procedures relating to transactions with related parties of Amplifon S.p.A., adopted by the Board of Directors of Amplifon S.p.A. on July 26, 2018 and published on the Amplifon S.p.A. website (www.corporate.Amplifon.com). Consequently, Amplifon S.p.A. has not published and will not publish an information document relating to the Operation pursuant to Article 5 of Regulation 17221/2010. 2 PER SHARE DATA CONCERNING THE ISSUER AS AT DECEMBER 31, 2020, NET VALUES FOR THE ITALY DIVISION December 31, 2020 (k€) Total assets 2.083.603 Total liabilities 1.444.551 Net equity 639.052 Year 2020 (k€) Revenues from Sales and other services 5.246 Net profit (loss) -2.912 Earnings per share (€ cent) Basic -1,301 Diluted -1,285 The Operation has no effect on the Issuer’s consolidated data as it is a significant transaction carried out between entities “under common control” according to IFRS 3. In addition, the Contribution(*) was made in accordance with the principle of continuity of values, and therefore the value of the equity interest in the Receiving Company(*), as entered in the Issuer’s separate financial statements on completion of the Operation(*), and the adjustments made at the Effective Date(*), will ensure that the Issuer’s equity at the Effective Date(*) is the same as that at December 31, 2020. (*) As defined below. 3 INDICE FOREWORD .......................................................................................................................... 8 DEFINITIONS ....................................................................................................................... 9 1. NOTICE: .................................................................................................................. 12 1.1 Risks or uncertainties associated with the Operation ............................... 12 Risks associated with the liability of the Issuer pursuant to Business Agreements in Italy .......................................................................................12 Risks associated with the valuation methods used for the purpose of the Appraisal Report .....................................................................................13 Risks associated with the Issuer’s objectives ..........................................14 Risks associated with the Operation being completed between related parties .................................................................................................14 1.2 Risks related to the Issuer and the Group of which it is the Parent Company .................................................................................................... 14 Risks associated with the performance of the company business and the uncertainties deriving from the effects of the COVID-19 emergency ........................................................................................................14 Risks associated with the competitive context ........................................17 Risks associated with renewing and maintaining certain Business Contracts ..........................................................................................................18 Risks associated with the Group's international operations ..............18 Risks associated with adverse changes in the state of the international economy ..................................................................................19 Risks associated with the inability to implement the Group’s expansion strategy .........................................................................................20 Risks associated with the portfolio of brands and patents ..................21 Risks associated with the Group’s human capital ................................21 Risks associated with exchange rate fluctuations .................................22 Risks associated with interest rate fluctuations .....................................23 Credit risk ........................................................................................................23 Liquidity Risk ..................................................................................................23 Risks associated with the execution of transactions with Related Parties 24 1.3 Risks related to the sector in which the Issuer and the Group operate ... 24 Risks associated with the relationship and interaction with customers .........................................................................................................24 Risks associated with relations with the medical community ............25 Risks associated with the dynamic relating to the regulation of health service organizations and coverage guaranteed by insurance policies ..............................................................................................................25 Risks associated with events that may influence customers' propensity to spend ........................................................................................25 Risks associated with the seasonal nature of the business .................26 Risks associated with changes in the law governing the sector in which the Group operates ...........................................................................26 Risks associated with privacy legislation .................................................27 Risks associated with the loss of reputation of the Group with customers and counterparties ....................................................................28 4 Risks associated with the Group’s and its suppliers’ ability to innovate ............................................................................................................29 Risks associated with the development of new technologies, therapies or alternative forms of treatment for hearing loss .............30 Risks associated with the Group's marketing strategy ........................30 Risks associated with the procurement of products .............................31 Risks associated with business interruption ...........................................31 Risks associated with product quality and safety, product liability and consequent reputational risk ..............................................................32 Risks associated with disputes ....................................................................33 Risks associated with the disruption or violation of the Group's IT systems 33 2. INFORMATION RELATING TO THE OPERATION ........................................... 34 2.1 Brief description of the terms and conditions of the Operation .............. 34 2.1.1 Description of the assets subject to the Contribution...........................34 2.1.2 Method of implementation and terms and conditions of the Operation and criteria for the determination of the value of the Italy Division ............................................................................................................36 2.1.3 Shareholder structure of Amplifon and of any controlling party pursuant to Article 93 of the TUF following the Capital Increase and effects of this transaction on any significant shareholders' agreements pursuant to Article 122 of the TUF concerning the Issuer's shares where such effects have been communicated by the parties to said agreements ...........................................................................39 2.2 Operation
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