July 19, 2024

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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 general public offering (“IPO”) of shares of Leonardo DRS, Inc. (“DRS”), an oblique wholly owned subsidiary of Leonardo.

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Notwithstanding trader interest in the price tag array through the system of the roadshow, adverse marketplace disorders did not let an sufficient valuation of DRS.

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DRS remains a main part of Leonardo’s business enterprise portfolio and the IPO will probably be revisited when current market problems are far more favorable and a productive IPO at an ideal valuation for this strategic company can be accomplished.

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Leonardo remains thrilled about the prospective buyers of DRS and will keep on to assistance its development within just the Leonardo Group.

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A registration assertion relating to these securities has been filed with the SEC but has not however come to be efficient. These securities might not be bought nor may well presents to invest in be accepted prior to the time when the registration statement results in being helpful. This push launch shall not constitute an give to sell, or the solicitation of an present to buy, these securities in any point out or jurisdiction in which these an offer you, solicitation or sale would be unlawful prior to registration or qualification below the securities laws of any these types of state or jurisdiction.

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The proposed supplying will be created only by means of a prospectus. Copies of the preliminary prospectus similar to the featuring may be obtained from Goldman Sachs & Co. LLC., Interest: Prospectus Department, 200 West Avenue, New York, NY 10282, by phone at (866) 471-2526 or by e-mail at [email protected] mail.gs.com BofA Securities, Inc., Attention: Prospectus Section, NC1-004-03-43, 200 North University Avenue, 3rd ground, Charlotte NC 28255 or J.P. Morgan Securities LLC, Notice: c/o Broadridge Money Solutions, 1155 Extended 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 press release is made up of statements that constitute “forward-searching statements”, including with respect to the proposed preliminary community featuring. Ahead-looking statements are subject matter to a lot of ailments, quite a few of which are beyond the manage of Leonardo and Leonardo DRS. Neither Leonardo nor Leonardo DRS undertake any obligation to update these statements for revisions or changes following the day of this release, besides as required by regulation.

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In the European Financial Region (the “EEA”), this press launch is directed only at folks in member states who are “qualified investors” in just the indicating of Report 2(e) of Regulation (EU) 2017/1129 (“Qualified Investors”). In the United Kingdom, this push release is directed only at persons who: (A) (i) are “investment professionals” specified in Short article 19(5) of the Money Services and Markets Act (Economical Marketing) Get 2005 (the “Order”) and/or (ii) drop inside Report 49(2)(a) to (d) of the Buy and (B) are “qualified investors” within just the that means of Article 2 of Regulation (EU) 2017/1129 as it kinds portion of retained EU regulation as defined in the EU (Withdrawal) Act 2018 (all such individuals alongside one another remaining referred to as “Relevant Persons”). This push launch should not be acted on or relied on (i) in the United Kingdom, by folks who are not Applicable People, and (ii) in any member condition of the EEA, by folks who are not Certified Investors. Any investment or expense exercise to which this press release relates is accessible only to: (i) in the United Kingdom, Appropriate Folks and (ii) in any member point out of the EEA, Experienced Investors, and will be engaged in only with these types of people.

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This announcement does not represent an offer of any securities to the community in Italy. The shares will not be registered with the Commissione Nazionale for every le Società e la Borsa (“CONSOB”) pursuant to Italian securities legislation and, accordingly, no shares might be offered, sold or sent, nor may copies of the prospectus and any other doc relating to any shares be dispersed in the Republic of Italy, other than: (i) to skilled traders (investitori qualificati), as outlined in Post 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 Posting 1 of the Prospectus Regulation. Any offer you, sale or shipping of the shares or distribution of copies of the prospectus and any other document relating to any shares in the Republic of Italy need to be in compliance with applicable Italian regulations and laws.

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