This document must not be disclosed, published, or distributed, in whole or in part, directly or indirectly, in any country where such disclosure, publication, or distribution would constitute a violation of applicable laws or regulations in that jurisdiction
Voluntary full public tender offer for the ordinary shares of Trevi-Finanziaria Industriale launched by Webuild
9,125,702 Trevi shares, corresponding to 13.916% of the share capital, were acquired at euro 5.165 per share
Webuild reaches 18,91% of Trevi’s share capital
Notice pursuant to Article 41(2)(c) of the regulations adopted by CONSOB by Resolution No. 11971 of 14 May 1999, as subsequently amended and supplemented
Milan, October 5, 2026 – In the context of the voluntary all-share public takeover bid (the “Offer”) for the ordinary shares of Trevi-Finanziaria Industriale S.p.A. (“Trevi”) launched by Webuild S.p.A. (“Webuild”), Webuild announces - pursuant to Article 41(2)(c) of the Issuers’ Regulations - that it has reached an agreement to acquire from Praude Asset Management Limited, acting as investment manager and in the name and on behalf of Hermes Linder Fund SICAV (on behalf of the Hermes Linder Fund sub-fund), Praude Funds ICAV (on behalf of the Praude Total Return Fund and Praude Micro and Small Cap Fund sub-funds) and Veniero Holdings Limited, of a total of 9,125,702 ordinary shares in Trevi (ISIN code IT0005709909), representing 13.916% of the share capital, at a price of Euro 5.165 per share and for a total value of Euro 47,134,250.83, through Intermonte SIM S.p.A.
Settlement of the transaction is scheduled for October 7, 2026, the second trading day following today’s date.
Following the transaction, Webuild will hold a total of 12,403,382 Trevi ordinary shares, representing approximately 18.91% of the share capital and voting rights (this will be disclosed in accordance with Article 120 of the Consolidated Law on Finance within the statutory terms).
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As the purchase was made at a price higher than the consideration offered under the Offer, pursuant to Articles 42(2) and 44(8) of the Issuers’ Regulations, all participants in the Offer (including those who had already accepted it) will be paid a consideration of Euro 5.165 per share.
With regard to the Offer, Webuild also announces that:
- following the completion of the transaction described above, the number of Offer Shares (as defined in the Offer document, the “Offer Document”) is 53,174,834;
- the Offer maximum payout (“Esborso Massimo”, as defined in the Offer Document), based on the new per-share consideration referred to above, amounts to Euro 274,648.017.61 and Webuild has obtained from the lenders indicated in the Offer Document the financial commitment to cover the maximum payout as set out above, activating the underlying credit facilities supporting the cash confirmation letter relating to the Offer for the amount indicated above;
- a new Offer adherence form, amended as a result of the increase in the consideration, will be made available to the public; provided that any subscription to a previous version of the adherence form shall be deemed a valid acceptance of the Offer on the terms set out in this press release.
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This press release and all documents relating to the Offer will be made available, amongst other places, on the websites
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This notice does not constitute, nor is it intended to constitute, an offer, invitation or solicitation to buy or otherwise acquire, subscribe for, sell or otherwise dispose of financial instruments, and no sale, issue or transfer of financial instruments of Trevi Finanziaria Industriale S.p.A. will take place in any country in breach of the applicable legislation there. The Offer is made by means of the publication of the relevant document, approved by CONSOB. The offer document contains a full description of the terms and conditions of the Offer, including the procedures for acceptance. The publication or distribution of this notice in countries other than Italy may be subject to restrictions under applicable law; therefore, any person subject to the laws of any country other than Italy is required to independently seek information regarding any restrictions imposed by applicable regulations and to ensure compliance with them. Any failure to comply with such restrictions may constitute a breach of the applicable legislation of the relevant country. To the fullest extent permitted by applicable law, the parties involved in the Offer shall be deemed exempt from any liability or adverse consequences that may arise from a breach of the aforementioned restrictions by the relevant persons. This notice has been prepared in accordance with Italian law, and the information disclosed herein may differ from that which would have been disclosed had the notice been prepared in accordance with the laws of countries other than Italy. No copy of this notice or any other documents relating to the Offer shall be, nor may be, sent by post or otherwise transmitted or distributed to or from any country where the provisions of local law may give rise to civil, criminal or regulatory risks should information concerning the Offer be transmitted or made available to shareholders of Trevi Finanziaria Industriale S.p.A. in that country or other countries where such conduct would constitute a breach of the relevant laws, and any person receiving such documents (including custodians, trustees or trustees) is required not to post or otherwise transmit or distribute them to or from any such country. The content of this notice is for information purposes only and is provisional; it must not be construed as investment advice. The statements contained herein have not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness, correctness or reliability of the information contained herein. Neither Webuild S.p.A. nor any of its representatives nor its controlling shareholders, whether direct or indirect, shall accept any liability (whether for negligence or otherwise) arising in any way in connection with this information or in connection with any loss arising from its use or otherwise arising in connection with this notice. By accessing this notice, you agree to be bound by the above limitations.