illimity Bank S p A: supports Synergas, a shipping company specializing in the gas sector

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UNLIMITED A-STRUCTURES 52.5 FINANCING OPERATION OF MILLIONS OF EUROS FOR SYNERGAS,

A MARITIME COMPANY SPECIALIZED IN THE GAS SECTOR, WITH MUZINICH

RMS AS COFINANCIAL

Milan, April 14, 2022 unlimited Bank SpA (“unlimited“or the”Bank“), structured a financing of 52.5 million euros for Synergas S.r.l. (“Synergistic gases“), the historical gas transport shipping company, with Muzinich SGR as co-financier. Specifically, illimity disbursed €26.3 million and Muzinich SGR the remaining €26.2 million.

The financing, with a duration of 6 years and supported by SACE, the Italian export credit agency, under the “Garanzia Italy” scheme1, will enable Synergas to carry out its group rationalization and consolidation project as well as to obtain a significant reduction in the cost of debt. The repayment plan has been arranged according to the good level of profitability achieved by the Company, anxious to seize all the growth opportunities that the international context can offer it.

The operation also aims to buy two ships, bringing the fleet of LNG carriers owned to nine. The ships all sail under the Italian flag and have a market value of around 88 million euros.

Created in 2005, Synergas is controlled by the Mattioli Cafiero family, active in the world of maritime transport since the 17th century. The company operates a fleet of nine LNG carriers and can boast a consolidated commercial relationship with the largestthe oil companies with which it works under long-term contracts Lease contracts. The high level of specialization of the staff and the long experience, both ashore and on board, provide the first-rate service needed to compete in this niche market.

unlimited Support for the group dates back to August 2021, when the Bank finalized the disbursement of a €5 million loan to Augusta Offshore SpA, a sister company of Synergas, to finance its working capital.

Enrico Fagioliboss of unlimited Growth Credit Division, commented: Synergas is an incumbent operator and leader in gas transport at the international level. Our role has always been to make the most of Italian excellence. In this specific case, we are particularly proud to support a strategic company like Synergas in light of the historic moment that Italy and the rest of the world are experiencing.“.

Mario Mattioli, Chairman of the Board of Directors of Synergistic gasesdeclared: “We are very pleased with the positive conclusion of the refinancing of our company by a syndicate made up of two leading companies such as illimity and Muzinich, partly also backed by the SACE guarantee, a key instrument introduced by the Italian government to support this companies in the country. This is the second intervention of unlimited in our Group, confirming that the banking system once again considers maritime transport as a strategic sector. This is particularly important because in Italy today the blue economy is rightly considered a sector capable of drive the country’s growth“.

1 The instrument provided by the government decree on liquidity to support Italian businesses during the Covid-19 emergency.

For more information:

Strategy, sustainability and investor relations illimity

Silvia Benzi: +39.349.7846537 – +44.7741.464948 [email protected]

Unlimited Press & Communication

Vittoria Laporta, Francesca d’Amico +39.340.1989762 [email protected]Sara Balzarotti, Ad-hoc communication advisors +39.335.1415584 [email protected]

Contact Synergaz [email protected]

Unlimited Bank SpA

unlimited is the high-tech banking group founded and led by Corrado Passera that was created with the aim of meeting the specific needs of the market through an innovative and specialized business model. Specifically, illimity extends financing to high-potential SMEs, purchases distressed business loans and manages them through its neprix platform, and provides digital direct banking services through illimitybank.com. illimity SGR, which creates and manages alternative investment funds, including the first dedicated to UTP loans, is also a member of the Group. The history of the illimity group began in January 2018 with the launch of the ad hoc acquisition company SPAXS SpA, which ended with a record raising of 600 million euros in the market. SPAXS then acquired Banca Interprovinciale SpA, the resulting merger between the two giving rise to “illimity Bank SpA” which has been listed on the Italian Stock Exchange since March 5, 2019 (ticker “ILTY”), first on the MTA stock exchange and since September 2020 on the Star segment (now Euronext Star Milan). The banking group, headquartered in Milan, can already count on more than 700 employees and ended 2021 with assets of around 4.7 billion euros.

Synergistic gases

Synergas is one of the main shippers of LPG and petrochemical products in the Mediterranean and Northern Europe. It owns and manages a fleet of 9 vessels, 6 semi-refrigerated vessels and 3 ethylene carriers, which operate continuously with the main oil majors. The company is a member of CA.FI.MA. Group, which is active in the maritime transport sector and also provides services for offshore oil platforms. The Group has a long and consolidated experience in the sector and can count on highly specialized personnel, both on land and on board.

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