Leonardo announces postponement of the DRS initial public offering

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Leonardo S.p.a. (“Leonardo”) declared that its wholly owned subsidiary, Leonardo US Keeping, Inc. (“Leonardo US Holding”), postponed the original community featuring (“IPO”) of shares of Leonardo DRS, Inc. (“DRS”), an indirect wholly owned subsidiary of Leonardo.

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Notwithstanding investor curiosity in just the cost assortment in the course of the system of the roadshow, adverse sector situations did not make it possible for an ample valuation of DRS.

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DRS remains a main element of Leonardo’s business portfolio and the IPO will probably be revisited when sector situations are a lot more favorable and a thriving IPO at an proper valuation for this strategic business can be accomplished.

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Leonardo stays excited about the prospective clients of DRS and will keep on to assistance its advancement within just the Leonardo Team.

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A registration statement relating to these securities has been submitted with the SEC but has not however turn out to be powerful. These securities may well not be offered nor may offers to invest in be accepted prior to the time when the registration assertion results in being successful. This push launch shall not constitute an offer you to provide, or the solicitation of an offer you to buy, these securities in any state or jurisdiction in which such an present, solicitation or sale would be illegal prior to registration or qualification less than the securities laws of any these kinds of condition or jurisdiction.

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The proposed presenting will be built only by suggests of a prospectus. Copies of the preliminary prospectus relevant to the offering may possibly be received from Goldman Sachs & Co. LLC., Awareness: Prospectus Office, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by e-mail at [email protected] mail.gs.com BofA Securities, Inc., Interest: Prospectus Office, NC1-004-03-43, 200 North University Road, 3rd floor, Charlotte NC 28255 or J.P. Morgan Securities LLC, Focus: c/o Broadridge Economic Options, 1155 Prolonged Island Avenue, Edgewood, NY 11717 or by phone at 866-803-9204 or by e mail at [email protected]

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Disclaimers
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This push release is made up of statements that represent “forward-seeking statements”, including with respect to the proposed preliminary general public presenting. Forward-hunting statements are subject matter to numerous problems, numerous of which are over and above the management of Leonardo and Leonardo DRS. Neither Leonardo nor Leonardo DRS undertake any obligation to update these statements for revisions or alterations just after the day of this release, other than as necessary by law.

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In the European Financial Location (the “EEA”), this push launch is directed only at persons in member states who are “qualified investors” inside of the meaning of Post 2(e) of Regulation (EU) 2017/1129 (“Qualified Investors”). In the United Kingdom, this press release is directed only at people who: (A) (i) are “investment professionals” specified in Write-up 19(5) of the Financial Services and Markets Act (Monetary Advertising) Order 2005 (the “Order”) and/or (ii) drop in just Write-up 49(2)(a) to (d) of the Order and (B) are “qualified investors” in just the indicating of Report 2 of Regulation (EU) 2017/1129 as it sorts aspect of retained EU regulation as outlined in the EU (Withdrawal) Act 2018 (all such persons collectively becoming referred to as “Relevant Persons”). This press release will have to not be acted on or relied on (i) in the United Kingdom, by persons who are not Suitable Individuals, and (ii) in any member point out of the EEA, by individuals who are not Skilled Traders. Any financial commitment or investment decision activity to which this press release relates is readily available only to: (i) in the United Kingdom, Suitable Individuals and (ii) in any member point out of the EEA, Qualified Investors, and will be engaged in only with this sort of individuals.

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This announcement does not constitute an provide of any securities to the general public in Italy. The shares will not be registered with the Commissione Nazionale for every le Società e la Borsa (“CONSOB”) pursuant to Italian securities laws and, appropriately, no shares may be available, marketed or shipped, nor might copies of the prospectus and any other doc relating to any shares be dispersed in the Republic of Italy, other than: (i) to certified buyers (investitori qualificati), as described in Short article 2, letter e) of the Regulation (EU) 2017/1129 (“Prospectus Regulation”), pursuant to Report 1, fourth paragraph, letter a), of the Prospectus Regulation or (ii) in other instances which are exempted from the policies on general public choices pursuant to Posting 1 of the Prospectus Regulation. Any provide, sale or shipping of the shares or distribution of copies of the prospectus and any other doc relating to any shares in the Republic of Italy ought to be in compliance with applicable Italian legislation and restrictions.

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