Gamenet S p A : DELISTING OF GAMENET GROUP S.P.A SHARES STARTING TODAY

Hereinafter is enclosed a press release at the request of Gamma Bidco S.p.A., a company formed on behalf of funds managed by Apollo Management IX, L.P.

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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

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GAMMA BIDCO S.P.A. COMPLETED THE JOINT PROCEDURE FOR THE OBLIGATION TO PURCHASE PROCEDURE (SELL-OUT) AND THE EXERCISE OF THE RIGHT TO PURCHASE (SQUEEZE-OUT)

DELISTING OF GAMENET GROUP S.P.A SHARES STARTING TODAY

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Rome, February 26, 2020 - Gamma Bidco S.p.A. (the "Offeror"), further to the press release of February 17, 2020 relating to: (i) the final results of the mandatory tender offer launched by the Offeror pursuant to Articles 102 and 106, paragraph 1, of Italian Legislative Decree no. 58 of February 24, 1998, as amended and supplemented (the "Italian Financial Act" or "IFA"), for all the outstanding ordinary shares of Gamenet Group S.p.A. ("Gamenet Group" or the "Issuer") and (ii) completion of the joint procedure for the obligation to purchase procedure (sell-out) pursuant to art. 108, paragraph 1, IFA and the concurrent exercise of the right to purchase (squeeze-out) pursuant to art. 111, IFA (the "Joint Procedure") regarding the remaining no. 1,039,567 Gamenet Group outstanding ordinary shares, representing 3.42% of the Issuer's share capital (the "Remaining Shares"), announces to have confirmed earlier today to the Issuer to have deposited the overall consideration of the Joint Procedure (corresponding to Euro 13,514,371.00) (the "Deposited Amount") with UniCredit S.p.A. on the Offeror's bank account. The Deposited Amount is dedicated to the payment of the consideration of the Joint Procedure to the holders of the Remaining Shares (pursuant to art. 111, paragraph 3, IFA).

The transfer to the Offeror of the ownership of the Remaining Shares will be effective starting today, and the Issuer will make the related entries in the shareholders' register (pursuant to art. 111, paragraph 3, IFA).

As already announced on February 17, 2020, holders of the Remaining Shares may obtain payment of the consideration of the Joint Procedure directly from their respective intermediaries. The obligation to pay the consideration of the Joint Procedure will be fulfilled when the relevant amounts are transferred to the intermediaries from which the Remaining Shares subject to the Joint Procedure originate.

Pursuant to article 2949 of the Italian Civil Code, following the five-year limitation period, the right of the holders of the Remaining Shares to obtain payment of the overall consideration of the Joint Procedure will be time barred and the Offeror shall be entitled to claw back the amounts deposited and not collected, without prejudice to the provisions of articles 2941 et seq. of the Italian Civil Code.

With note no. 8629 of February 18, 2020, Borsa Italiana S.p.A. arranged for the Issuer's shares to be suspended from trading on the Mercato Telematico Azionario, STAR segment, during the February 24, 2020 and February 25, 2020 sessions, and delisted starting today.

The Offer Document is available on the website of the Issuer (www.gamenetgroup.it), at the registered office of the Issuer, of the Offeror and of the Tender Agents (Intermediari Incaricati del Coordinamento della Raccolta delle Adesioni), as well as on the website of the Global Information Agent (www.morrowsodali-transactions.com).

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In the context of the Offer, Equita SIM S.p.A. has acted as financial advisor to the Offeror, Banca IMI S.p.A. and

Equita SIM S.p.A. have acted as Tender Agents (Intermediari Incaricati del Coordinamento della Raccolta delle

Adesioni), whereas Paul, Weiss, Rifkind, Wharton & Garrison LLP and Latham & Watkins LLP have acted as legal advisors to the Offeror.

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED UNDER THE MARKET ABUSE REGULATION

(EU) NO. 596/2014 (THE "MARKET ABUSE REGULATION").

This announcement has been issued by, and is the sole responsibility of, Gamma Bidco S.p.A.

The Offer contemplated in this press release has been launched in Italy only. The Offer has not been launched in the United States, in Canada, Japan and Australia, nor in any other country where such Offer or the adherence thereto is in contrast with the laws and regulations on financial instruments in such country or would require the registration with, authorization from or filing with the competent authorities (such countries, including the United States, Canada, Japan and Australia, collectively, the "Excluded Countries"), neither by using communication means or domestic or international trade of the Excluded Countries, nor through any structure of any of the financial intermediaries of the Excluded Countries, nor in any other way. No action has been taken to make the Offer possible in any of the Excluded Countries.

This press release, or any part thereof, as well as any document issued in the future by the Offeror in reference to the Offer may not be sent, disclosed or otherwise distributed, neither directly nor indirectly, in the Excluded Countries. Any person receiving such documents shall not distribute, disclose or send them in the Excluded Countries. This press release as well as any and all other documents issued by the Offeror in the framework of the Offer shall not be intended and shall not be construed as an offer to purchase or as an invitation to sell financial instruments to U.S. Persons (as defined in the U.S. Securities Act of 1933, as later amended) or to persons residing in the Excluded Countries. No instrument may be offered or sold in the Excluded Countries unless the clearances required under the applicable provisions of law of such Excluded Countries have previously been obtained or such provisions may be derogated. The adherence to the Offer by persons residing outside of Italy may be subject to specific obligations or restrictions set out by the applicable laws or regulations. The compliance with any such laws and regulations shall be the exclusive responsibility of the addressees of the Offer, who shall therefore verify the existence and applicability of the Offer before adhering to it by seeking advice from own business consultants. The Offeror may not be held liable for the infringement by any person of the above limitations.