The Board of Directors reviewed certain financial data concerning the first quarter of 2023

- Revenues +14% at 24.2M EUR - Gross Profit +24% at 7.8M EUR - EBITDA -27% at 0.8M EUR for R&D boost - BEE, the Business Unit on which future investment will focus, posts highest top line growth (+25%) - Update of Internal Dealing Procedure Milan, 9 May, 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, announces that today the Board of Directors examined certain consolidated financial data concerning the first quarter of 2023. Consolidated figures show significant growth, +14% for Q1 2023 revenues at 24.2M EUR vs. 21.2M EUR in Q1 2022; and -27% for Q1 2023 EBITDA at 0.8M EUR vs. 1.1M EUR in Q1 2022, mainly due to R&D investments and extra costs for the sale of the Email Service Provider business.