Exor Acquisition Initiative

EXOR SE OFFERS TO ACQUIRE ALL OUTSTANDING SHARES OF MAGNI RE

Milan, Italy, March 26, 2025 – Exor SE (the "Company" or "Exor"), a global investment group, today announced that it has launched a tender offer to acquire all outstanding shares of Magni Re, a leading reinsurer, for an aggregate consideration of approximately €1.2 billion.

Under the terms of the offer, Magni Re shareholders will have the opportunity to tender their shares at a price of €25.50 per share, representing a premium of approximately 20% over the company's unaffected share price as of March 25, 2025.

The offer is subject to certain conditions, including the receipt of regulatory approvals and the expiration of any applicable waiting periods. Exor has received a commitment from Magni Re's largest shareholder to tender their shares in the offer, which represents approximately 55% of Magni Re's outstanding shares.

"We believe that Magni Re is a highly valuable business with a strong presence in the reinsurance market," said John Elkann, Chairman of Exor. "We are excited about the opportunity to acquire the company and look forward to working with its talented team to drive growth and success."

The offer is expected to expire at 5:00 p.m. CET on April 23, 2025, unless extended or terminated in accordance with its terms. Shareholders of Magni Re are advised to carefully review the offer documentation and consult with their financial and legal advisors as needed.

Exor is a global investment group with a diverse portfolio of businesses and investments across multiple sectors. The company is listed on the Italian Stock Exchange (MTA) and has a market capitalization of approximately €15 billion.

Magni Re is a leading reinsurer with a strong presence in the global reinsurance market. The company has a diverse portfolio of businesses and investments across multiple sectors, including property, casualty, and specialty lines.

This news release is for informational purposes only and is not intended to be an offer or solicitation of an offer to purchase or sell any securities. The offer is subject to certain conditions and is not guaranteed to be completed. Shareholders of Magni Re are advised to carefully review the offer documentation and consult with their financial and legal advisors as needed.