Leonardo announces postponement of the DRS initial public offering

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Leonardo S.p.a. (“Leonardo”) announced that its wholly owned subsidiary, Leonardo US Holding, Inc. (“Leonardo US Holding”), postponed the preliminary community featuring (“IPO”) of shares of Leonardo DRS, Inc. (“DRS”), an oblique wholly owned subsidiary of Leonardo.

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Notwithstanding investor interest inside of the cost variety all through the course of the roadshow, adverse market place disorders did not make it possible for an enough valuation of DRS.

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DRS remains a core portion of Leonardo’s business portfolio and the IPO will most likely be revisited when sector disorders are additional favorable and a productive IPO at an appropriate valuation for this strategic business can be achieved.

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Leonardo remains energized about the prospective clients of DRS and will carry on to assist its progress inside of the Leonardo Group.

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A registration statement relating to these securities has been filed with the SEC but has not yet turn into productive. These securities may well not be sold nor may well gives to obtain be accepted prior to the time when the registration statement becomes efficient. This press release shall not represent an provide to sell, or the solicitation of an give to buy, these securities in any point out or jurisdiction in which these an offer, solicitation or sale would be illegal prior to registration or qualification below the securities guidelines of any this kind of condition or jurisdiction.

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The proposed offering will be created only by usually means of a prospectus. Copies of the preliminary prospectus connected to the providing might be acquired from Goldman Sachs & Co. LLC., Awareness: Prospectus Division, 200 West Avenue, New York, NY 10282, by telephone at (866) 471-2526 or by electronic mail at [email protected] mail.gs.com BofA Securities, Inc., Focus: Prospectus Division, NC1-004-03-43, 200 North College or university Road, 3rd floor, Charlotte NC 28255 or J.P. Morgan Securities LLC, Notice: c/o Broadridge Money Methods, 1155 Extended Island Avenue, Edgewood, NY 11717 or by telephone at 866-803-9204 or by e-mail at [email protected]

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Disclaimers
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This push launch consists of statements that constitute “forward-seeking statements”, including with respect to the proposed preliminary general public offering. Ahead-searching statements are subject to numerous ailments, numerous of which are beyond the management of Leonardo and Leonardo DRS. Neither Leonardo nor Leonardo DRS undertake any obligation to update these statements for revisions or modifications just after the date of this release, besides as expected by legislation.

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In the European Economic Location (the “EEA”), this push release is directed only at people in member states who are “qualified investors” in just the this means of Short article 2(e) of Regulation (EU) 2017/1129 (“Qualified Investors”). In the United Kingdom, this press launch is directed only at individuals who: (A) (i) are “investment professionals” specified in Posting 19(5) of the Financial Services and Markets Act (Money Promotion) Order 2005 (the “Order”) and/or (ii) tumble inside Post 49(2)(a) to (d) of the Get and (B) are “qualified investors” inside the that means of Article 2 of Regulation (EU) 2017/1129 as it varieties part of retained EU legislation as defined in the EU (Withdrawal) Act 2018 (all such persons jointly being referred to as “Relevant Persons”). This press launch have to not be acted on or relied on (i) in the United Kingdom, by people who are not Appropriate Persons, and (ii) in any member condition of the EEA, by individuals who are not Experienced Investors. Any financial commitment or financial investment activity to which this push release relates is available only to: (i) in the United Kingdom, Applicable Individuals and (ii) in any member point out of the EEA, Experienced Buyers, and will be engaged in only with these kinds of persons.

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This announcement does not constitute an offer you of any securities to the public in Italy. The shares will not be registered with the Commissione Nazionale per le Società e la Borsa (“CONSOB”) pursuant to Italian securities legislation and, appropriately, no shares might be presented, bought or delivered, nor might copies of the prospectus and any other document relating to any shares be distributed in the Republic of Italy, other than: (i) to qualified investors (investitori qualificati), as defined in Short article 2, letter e) of the Regulation (EU) 2017/1129 (“Prospectus Regulation”), pursuant to Write-up 1, fourth paragraph, letter a), of the Prospectus Regulation or (ii) in other situations which are exempted from the regulations on community choices pursuant to Report 1 of the Prospectus Regulation. Any provide, sale or supply of the shares or distribution of copies of the prospectus and any other doc relating to any shares in the Republic of Italy have to be in compliance with relevant Italian laws and polices.

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None of the information contained on, or that may perhaps be accessed via our internet site or any other web page is aspect of this push launch. All site addresses are meant to be inactive textual references only.

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