26/07/2022 - PHARMANUTRA S.P.A.: FIRST ACQUISITION CLOSING OF AKERN S.R.L. FINALISED

PHARMANUTRA S.P.A.: FIRST ACQUISITION CLOSING

OF AKERN S.R.L. FINALISED

Pisa, 26 July 2022 - Referring to the acquisition of 100% of the share capital of Akern S.r.l., a company that researches, developments, produces and sells medical instruments and bio-impedance analysis body composition monitoring software ("Akern"), announced to the market on June 15th, 2022, (the "Transaction"), PharmaNutra S.p.A.(MTA; Ticker PHN) - a company specialised in iron-based and mineral- based nutritional supplements and medical devices for muscles and joints - announced today that the first acquisition closing of the Transaction has been finalised, with PharmaNutra investing in a total of 86.48% of Akern's share capital, 72.96% from Red Lions S.p.A. and 13.52% from Jacopo Talluri, on payment of a total of € 10,783,200.

Yann Inghilesi will remain Akern's Managing Director and Jacopo Talluri will remain Akern's Chief Scientific Officer.

The second acquisition closing of the transaction, relating to the purchase of the remaining 13.52% of Akern's share capital held by Liside S.r.l., will take place by the end of this year for a total of € 1,216,800.

It should be noted that the parties have also provided for an earn-out for the sellers of up to a maximum of € 3 million upon the achievement of targets related to Akern's EBITDA and gross margin, calculated based on the results from financial years 2022, 2023 and 2024, and that in the financial year 2021 Akern reported a turnover of € 4,188,919, an EBITDA of € 1,160,441, net result of € 577,276 and a positive net financial position (cash) of € 846,665 as at December 31st, 2021.

As announced in press releases dated June 15th and 17th, 2022, the Transaction was subject to the fulfilment of certain conditions, including obtaining "Golden Power" authorisation. In this regard, it should be noted that on June 30th, 2022, the Presidency of the Council of Ministers in Italy confirmed that the Transaction does not fall within the scope of the regulations set forth in Legislative Decree No. 21/2012.

"We are very satisfied with the completion of the first closing of Akern's acquisition, which represents a strategic milestone for PharmaNutra. We speak about an ever since cutting-edge company, with a long-standing reputation for excellence, which has stood out over the years for the high quality and innovation of their products, intended for an exclusively professional use and therefore with a clearly scoped target", commented Roberto Lacorte, Vice-Chairmanand CEO of PharmaNutra S.p.A. "Thanks to this acquisition, to be considered as accretive (being the purchase multiple significantly lower than the share multiple), PharmaNutra can boost and

diversify its own business lines, strengthening the know-how and developing an important strategy of coverage, relationship and market growth in the field of the sports medicine, that will grant important development opportunities with value creation for the shareholders".

PharmaNutra S.p.A.

Established and led by Chairman Andrea Lacorte and Vice Chairman Roberto Lacorte, PharmaNutra is a company established in 2003 that develops unique nutritional supplements and innovative medical devices, taking care of the entire production process, from proprietary raw materials to the finished product. The effectiveness of the products is demonstrated by a wealth of scientific evidence, including 135 publications with over 7,000 subjects involved. The Group distributes and sells in Italy and abroad. In Italy, the sales activity is carried out through a network of over 160 Scientific Sales Representatives at the service of the medical class, also dedicated to the exclusive marketing of PharmaNutra products to pharmacies throughout the country. Sales abroad are guaranteed in over 60 countries through 42 partners selected among the leading pharmaceutical companies. PharmaNutra is a leader in the production of iron-based nutritional supplements under the brand name SiderAL®, for which it boasts key patents for the Sucrosomial® Technology. Over the years, the Group has developed a precise strategy for the management and production of intellectual property, based on the integrated management of all components: proprietary raw materials, patents, trademarks and clinical evidence.

PharmaNutra.it

For further details:
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