nancing of 2 newcos (Paris and Milano) 160K Equity 1M debt ownership of 50% of newco Big names hires in Miano and Paris Will work for free until the 1M is paid back (24 months) Option 3 Financing of 9M of a new holding 8M Debt 1M Equity Staged in 3 years Italian company merged day 1 (400K ebitd

nancing of 2 newcos (Paris and Milano) 160K Equity 1M debt ownership of 50% of newco Big names hires in Miano and Paris Will work for free until the 1M is paid back (24 months) Option 3 Financing of 9M of a new holding 8M Debt 1M Equity Staged in 3 years Italian company merged day 1 (400K ebitd

Financing of 2 newcos (Paris and =ilano) 160K Equity 1M debt ownership of 50% =f newco Big names hires in Miano and Paris Will work f=r free until the 1M is paid back (24 months) Opti=n 3 Financing of 9M of a new holding 8M Debt Staged in 3 years Italian company merged day=1 (400K ebitda) Ownershi

Financing of 2 newcos (Paris and Milano) 160K Eq=ity 1M debt ownership of 50% of newco Big na=es hires in Miano and Paris Will work for free until the 1M is p=id back (24 months) Option 3 Financing =f 9M of a new holding 8M Debt 1M Equity Stag=d in 3 years Italian company merged day 1(400K ebitda