SHAREHOLDERS' MEETING OF VILLA ERBA S.P.A.: FIRST DIVIDEND DISTRIBUTION TO SHAREHOLDERS

 Shareholders' Meeting of VILLA ERBA S.p.A.:
 
financial statements as of 12/31/2023 approved 
with a value of production of € 17,245,351 (+27.75%) 
and a profit of € 1,777,026 (+21.55% over the previous year) 
 
Consolidated economic balance and largely positive net financial position
 
First dividend distribution to shareholders

The Ordinary Shareholders' Meeting of Villa Erba S.p.A. convened on April 22 to approve the financial statements for the year ended 12/31/2023.
The President of Villa Erba, Claudio Taiana, presented to the Members, in an articulate overview, the activities carried out in the first year of his mandate and the characteristics of the management of the 2023 fiscal year, which closed with a positive economic result.
In fact, FY2023 closes with a value of production of €17,245,351 (equivalent to +27.75% over FY2022) and a profit of €1,777,026 (equivalent to +21.55% over FY2022).
These excellent performances further consolidate the virtuous path that Villa Erba has been on for some years now and confirm the achievement of a consolidated economic balance and a largely positive net financial position.  As a result of all this, for the first time in Villa Erba's history, the Board of Directors proposed to the Shareholders' Meeting the distribution of a dividend to shareholders in the amount of € 0.06 per share for a total of approximately € 120,000. 

As far as the investment plan is concerned, the following projects, totaling more than € 1,000,000, have reached completion: the renovation of the building at the entrance in Largo Visconti, the renovation of the audio and video surveillance system inside the exhibition center, the replacement of boilers, as well as the construction of the photovoltaic system in the area of the parking garage. 
In addition to these, there are important investments still underway, amounting to about € 430,000 and concerning: the landscape redevelopment of the area of the former Galoppatoio, with greenhouses and the creation of a refreshment area, the digitization of the rooms dedicated to Luchino Visconti with a project that will reconfigure the contents of the current exhibition space thanks to innovative digital technologies developed on a custom basis, including immersive projections, audio-visual narratives, and light and sound games. The last project, “Villa ErbaSvelata,” is an in-depth and never-before-done study of the artistic works in the Ancient Villa. The analysis will be conducted by an expert professor of Lombard Renaissance art. The goal of the research is to document and enhance the artistic heritage contained in the rooms. 

With reference to the events held and hosted in the entire compendium in the year 2023, the following numbers are highlighted: 123 is the grand total of which 95 were hosted in the Ancient Villa, 20 in the Exhibition Center, and 8 between the Park and the former galloping ground area. The total days of occupancy of all spaces (Exhibition Center, Ancient Villa and Park) including set-up and dismantling days were 174 in the Villa and 98 in the Exhibition Center, and 77,500 is the total attendance calculated in the year 2023. Recurring, established and successful events are confirmed: Orticolario, Proposte, TedxLakeComo, Comic Art Festival, Concorso d'Eleganza, ComoCrea. 
Numerous internationally renowned brands have chosen Villa Erba as the ideal location for their event in 2023. Among them: Banca Ifis, Dior, IBSA, l'Orèal, Guess, Lyreco, Italian Hygiene Society.
Among the events of an institutional nature of international relevance, “Como Lake 2023 - next generation innovations” by the Department for Digital Transformation headed by the Undersecretary to the Presidency of the Council for Innovation should certainly be mentioned.

Two main factors have determined the extraordinary success achieved: on the one hand, the great versatility of the structure that has allowed a natural coexistence of events between the Ancient Villa, Park and Congress-Exhibition Center, and on the other hand, the excellent professionalism of Villa Erba's staff capable of satisfying the needs of customers in a market where programming times are increasingly close and complex. 
 
The cultural and entertainment initiatives, which have definitively entered the Society's annual programming, are developed throughout the year with the offer of a varied schedule of high quality events open to all citizens: they range from music, workshops and activities for children, concerts, exhibitions, guided tours.
With reference to the #CulturadiVillaErba project, the participatory, cultural and artistic project “The 4 Seasons of Villa Erba” promoted by Villa Erba, in collaboration with the Teatro Sociale di Como Aslico, with the contribution of the Municipality of Cernobbio and the patronage of the Province, the Municipality of Como and the Chamber of Commerce of Como-Lecco, continues and strengthens.
Also continuing for the upcoming summer season is the collaboration with Mynina with the offering of concerts with Italian and international artists hosted in the area of the former galloping ground between July and September.

With reference to sustainable development, Villa Erba although it does not carry out activities̀ particularly impacting the environment, it has been managing this aspect for years in a timely manner through targeted control. It is important to highlight the positive environmental results achieved by the new air conditioning systems capable of cutting CO2 emissions and energy costs thanks to the use of energy from renewable sources and low-temperature water from the lake. Also significant is the lighting system in the exhibition center, now equipped only with low-consumption LED lamps. 
Adding to these foundations is the sustainability journey undertaken with the preparation of the company's first Sustainability Report in 2022 and replicated in 2023, with the achievement of ambitious goals for the future, aiming to increase on several fronts its commitment to promote the sustainable development of the business through environmental and social projects.

I am very proud of these results, to whose unquestionable considerable economic importance is associated the first distribution of dividends in the history of Villa Erba, which is certainly a unique way to celebrate my first shareholders' meeting,” says Claudio Taiana, president of Villa Erba S.p.A. Significant funds have also been set aside for the redevelopment “of the former galloping area” that will make this portion of the park more functional and cared for so that it will be more usable by the population for much of the year. 
 
First and foremost, a big thank you to the staff for their constant commitment; the results achieved, the magnitude of which is to be considered historic, are tangible proof of this commitment, which I am sure will not be lessened even during 2024, which with the unfailing caution, I feel however to define at the moment as another year harbinger of important satisfactions, obviously net of uncontrollable exogenous factors. In summary, therefore, great satisfaction with the results in general and in particular with the historic “first dividend distributed by the company,” - adds Piero Bonasegale, General Manager Villa Erba S.p.A. 

In conclusion, the President thanked fellow board members, General Manager Piero Bonasegale, and the entire Villa Erba staff for their constant commitment and professionalism. The meeting concluded with brief speeches by Members who congratulated management. The financial statements as of 12/31/2023 were approved by all Members present.