Growens announces sale of Email Service Provider business to TeamSystem Group for a total consideration of 70 million Euro

Focus on acceleration of future growth and development of BEE Key info: • Deal perimeter: MailUp, Contactlab, Acumbamail, MailUp Nordics and Globase • Call of the general shareholders’ meeting, ordinary and extraordinary session, to approve the transaction and subsequent amendments to the By-Laws, on 9 March 2023 • Right of withdrawal at 4.39 Euro per share • Closing: tentatively within June 2023 Milan, 3 February, 2023 – Growens S.p.A. – GROW (the “Company” or the “Issuer” or “Growens”), a company admitted to trading on the multilateral trading facility Euronext Growth Milan and operating in the cloud marketing technology field, announced that on 2 February 2023 the Board of Directors approved the signing of a binding agreement (the “Agreement”) for the sale of the MailUp business unit and the share capital of Contactlab S.p.A., Acumbamail S.L., MailUp Nordics A/S and its subsidiary Globase International A.p.S. (collectively the “Email Service Provider”) to TeamSystem S.p.A. (“TeamSystem” or the ”Purchaser”) for a total consideration of 70 million Euro on a cash/debt free base (the ”Transaction”).