IPO
(ITALIAN ONLY)

Disclaimer

In order to read or download the Admission Document shown in this section of the website (the "Admission Document"), it is necessary to read and accept the following information.

By accepting the information, you are subject to the following terms, which may be updated or edited and for this reason they must be entirely read every time you intend to view or download the Admission Document.

The Admission Document was prepared to obtain the admission to trading of the ordinary shares (the "Shares") issued by WM Capital S.p.A. (the "Company") on Euronext Growth Milan, a multilateral trading facility organized and managed by Borsa Italiana S.p.A. The Admission Document was drawn up pursuant to the Euronext Growth Milan Issuers Regulation and is not an offer prospectus pursuant to arts. 94 and ss. of Legislative Decree 58/1998.

The Admission Document is accessible only by subjects who:

• are resident in Italy and who are not domiciled, nor are they currently located in the United States of America, Australia, Japan, Canada, as well as in any other country in which the dissemination of the Admission Document and / or such information requires the approval by the competent local Authorities or is in violation of local laws or regulations ("Other Countries");

• are not "U.S. Person" as defined in Regulation S of the United States Securities Act of 1933, as subsequently amended.

At the "U.S. Person" in the sense indicated above, any possibility of temporary or lasting storage and saving of the Admission Document is precluded. The information contained in the Admission Document cannot be copied or forwarded. For no reason and under no circumstances is it allowed to circulate, directly or through third parties, the Admission Document outside of Italy, in particular in the United States, Australia, Japan, Canada or other countries, or distribute the Admission Document for people not resident in Italy.

Regulation S of the United States Securities Act of 1933, as subsequently amended, defines as "U.S. Person": (1) any natural person resident in the United States; (2) the "partnerships" and "corporations" formed and organized under the laws in force in the United States; (3) any property whose directors or managers are a "U.S. Person "; (4) trusts whose trustee is a "U.S. Person "; (5) any agency, branch or branch of a person based in the United States; (6) non-discretionary accounts; (7) other similar accounts (except properties or trusts), managed or administered in trust for or for the benefit of a "U.S. Person "; (8) "partnerships" and "corporations" if (i) constituted and organized under the laws of any foreign jurisdiction; and (ii) consisting of a "U.S. Person" with the primary objective of investing in unregistered securities under the United States Securities Act of 1933, as subsequently amended, unless established or organized and owned by accredited investors (as defined in Rule 501 (a) of the United States Securities Act of 1933) that are not individuals, properties or trusts.

To access the Admission Document, I declare under my full responsibility that I am resident in Italy and that I am not domiciled, nor that I am currently in the United States of America, Australia, Japan, Canada or other countries and that I am not a "U.S. Person ”as defined in Regulation S of the United States Securities Act of 1933, as subsequently amended.