Common use of Voting Clause in Contracts

Voting. Power (1) The Issuer holds 1,895,818 Shares (treasury shares), representing 4.87 per cent. of total Shares, which do not vote. (2) IVS Partecipazioni is the vehicle which is beneficially owned by former IVS Group Holding S.p.A. shareholders including certain members of the Issuer’s Board of Directors and senior management, including Messrs. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇. Previously, our share capital comprised Class A Shares together with Class B2 and B3 Shares owned by certain founding shareholders of Italy1. On July 21, 2017 IVS Group S.A acquired all the B2 and B3 Shares for a total consideration of EUR 23 thousand. Following such acquisition, the Extraordinary Shareholders’ meeting held on December 13, 2017 resolved to reduce the share capital of the Issuer from EUR 386,892 to EUR 363,558 by cancellation of nr. 1,250,000 B2 shares and nr. 1,250,000 B3 shares.