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Profit for the year 2019 into reserves

Shareholders' meeting: distributing no dividends.

UMBRAGROUP S.p.A.’s Board of Directors met today, March 30, 2020, under the chairmanship of Antonello Marcucci in consideration of the intensification and spread of the health emergency and of the future economic-financial impacts linked to the spread of COVID-19. He deemed it appropriate and prudent to propose at the Shareholders' meeting the approval of the 2019 financial statements, fully allocating the profit for the year 2019 into reserves and therefore distributing no dividends.

Umbragroup is closely monitoring the development of the spread of COVID-19 and is adopting all the necessary pandemic prevention, control and containment measures at all its offices globally.

The economic-financial solidity and the ability and agility of execution demonstrated in recent years by the Group will allow us to overcome this extremely difficult moment which is affecting the world economy.

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