Announcement of the Reference VWAP for the Tender Offer

On 17 April 2025, the reported closing price of the Ordinary Shares on Euronext Amsterdam was EUR 78.30 per Ordinary Share.

The volume weighted average market price at which Exor’s Ordinary Shares traded on Euronext Amsterdam (the “Volume-Weighted Average Price” or “VWAP”) during the period from 09:00 CET on 27 March 2025 to 17:40 CET (inclusive) on 17 April 2025 was EUR 80.0027 per Ordinary Share (the “Reference VWAP”). The price corresponding to a three (3) per cent discount over the Reference VWAP (the “Minimum Price”) is EUR 77.6026 per Ordinary Share and the price corresponding to a ten (10) per cent premium over the Reference VWAP (the “Maximum Price”) is EUR 88.0029 per Ordinary Share.