Corporate updates

February 13, 2025

Rome, 13 February 2025 – Sipario Movies S.p.A. – a company active in the production of film and television content (Euronext Growth Milan – IT0005380602 – SMO and Euronext Growth Paris – IT0005380602 – ALIE) (the “Company”) – announces that, with reference to the extraordinary shareholders’ meeting called for 18 February 2025, at 4:00 p.m., in first call, and for February 20, 2025, at 4:00 p.m., in second call, as of today, the Company has not received any commitment or expression of interest from current shareholders and third parties
for the subscription of the share capital increase.

In addition, the Company informs that, on 7 February 2025, the Board of Directors and the Chairman of the Board of Statutory Auditors received a letter from director Nicola Cinelli in which the manner and content of the items on the agenda of the extraordinary shareholders’ meeting called for 18 February 2025 are mainly contested. In particular, director Cinelli disputes that (i) the notice of call contains inaccuracies, such as to make the resolution proposal made to shareholders unclear if not downright dangerously misleading, and that (ii) the Explanatory Report of the Board of Directors of the extraordinary shareholders’ meeting of 18 February 2025 does not correspond to the version approved by the Board of Directors.

On the same date, the Chairman of the Board of Directors replied to the letter, stating that its content is aimed exclusively at creating obstructionism with respect to the dutiful, albeit strenuous, attempts of this Board of Directors to remedy the very serious situation of insolvency of the Company and the pursuit of the serious responsibilities and wrongdoings of the past management of the Company, which, moreover, still sees the presence of a chairman suspended for disciplinary reasons by the Order of Chartered Accountants at the Chairmanship of the Board of Statutory Auditors. The Company also announces that, following the notice of withdrawal from the position of Euronext Growth Advisor (“EGA”) by Alantra, received on 12 November 2024, although it has started the search for a new EGA, a replacement has not yet been appointed.

Finally, with reference to the 2024 Consolidated Half-Year Report, approved by the Board of Directors on 21 January 2025, the Company informs that the auditor’s audits are still underway for the purpose of issuing the related report. It should be noted that the revision of the Consolidated Half-Year Report is voluntary.