Gamenet S p A : THE 90% THRESHOLD HAS BEEN EXCEEDED ON FEBRUARY 13, 2020

Hereinafter is enclosed a press release at the request of Gamma Bidco S.p.A., a company formed on behalf of funds managed by Apollo Management IX, L.P.

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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

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THE 90% THRESHOLD HAS BEEN EXCEEDED ON FEBRUARY 13, 2020

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Rome, February 13, 2020 -As regards to the mandatory tender offer launched by Gamma Bidco S.p.A. (the "Offeror") pursuant to Articles 102 and 106, paragraph 1, of Italian legislative decree No. 58 of February 24, 1998, as amended and supplemented (the "Italian Financial Act" or "IFA"), for the purchase of up to no. 8,693,124 ordinary shares of Gamenet Group S.p.A. ("Gamenet Group" or the "Issuer"), including the additional no. 1,500,000 ordinary shares of the Issuer as a result of the exercise of all stock options by the Issuer's management, for an aggregate amount of no. 10,193,124 ordinary shares equal to approximately 33.57% of the Issuer's Share Capital (as defined below), the Offeror hereby announces that, as a result of shares tendered in the Offer as of today's date the Offeror will own more than 90% of the Issuer's Share Capital (considering the shares already owned).

Terms capitalized in this press release, where not otherwise defined, have the meaning set out in the offer document approved by CONSOB with resolution No. 21217 of January 22, 2020 and published on January 24, 2020 (the "Offer Document").

In particular, as of today's date, no. 4,608,357 Shares have been tendered to the Offer, representing approximately 15.17% of the Issuer's share capital which, following the issuance on February 10, 2020 of additional no. 368,100 Gamenet Group Shares, is made by no. 30,368,100 ordinary shares (the "Share Capital"). As of February 13, 2020, the Offeror holds a total of no. 27,553,407 Gamenet Group ordinary shares, equal to 90.73% of the Issuer's Share Capital, considering also (i) the no. 20,174,976 Gamenet Group ordinary shares directly held by the Offeror before the start of the Tender Period, and (ii) the no. 2,770,074 Gamenet Group ordinary shares purchased by the Offeror on the market during the Tender Period.

As a result of the acquisition of a shareholding of more than 90% of the Issuer's Share Capital as of February 13, 2020, the Re-opening of the Tender Period will not take place as indicated in Notice (Avvertenza) A.8 of the Offer Document (pursuant to and in compliance with Article 40-bis, paragraph 3, letter b), of the Issuers' Regulation).

The Offeror intends to acquire the entire share capital of the Issuer and to achieve the delisting of the Issuer's ordinary shares according to the terms and conditions described in the Offer Document.

The Tender Period will close on February 14, 2020 at 17:30 (Italian time) and following the end of said period, the results of the Offer will be announced and indications will be provided on the terms by which the Offeror will launch the Obligation to Purchase procedure (i.e. sell-out) pursuant to Art. 108, paragraph 2, IFA or, should it hold at the end of the Tender Period more than 95% of the Issuer's Share Capital, will carry out the Joint Procedure for the Obligation to Purchase procedure (i.e. sell-out) pursuant to Art. 108, paragraph 1, IFA and the exercise of the Right to Purchase (i.e. squeeze-out) pursuant to Art. 111, IFA.

The Offer Document containing the detailed description of the terms and conditions of the Offer is available on the website of the Issuer (www.gamenetgroup.it), as well as at the registered office of the Issuer, of the Offeror and of the Tender Agents (Intermediari Incaricati del Coordinamento della Raccolta delle Adesioni) and on the website of the Global Information Agent (www.morrowsodali-transactions.com).

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED UNDER THE MARKET ABUSE REGULATION

(EU) NO. 596/2014 (THE "MARKET ABUSE REGULATION").

This announcement has been issued by, and is the sole responsibility of, Gamma Bidco S.p.A.

The Offer contemplated in this press release has been launched in Italy only. The Offer has not been launched in the United States, in Canada, Japan and Australia, nor in any other country where such Offer or the adherence thereto is in contrast with the laws and regulations on financial instruments in such country or would require the registration with, authorization from or filing with the competent authorities (such countries, including the United States, Canada, Japan and Australia, collectively, the "Excluded Countries"), neither by using communication means or domestic or international trade of the Excluded Countries, nor through any structure of any of the financial intermediaries of the Excluded Countries, nor in any other way. No action has been taken to make the Offer possible in any of the Excluded Countries.

This press release, or any part thereof, as well as any document issued in the future by the Offeror in reference to the Offer may not be sent, disclosed or otherwise distributed, neither directly nor indirectly, in the Excluded Countries. Any person receiving such documents shall not distribute, disclose or send them in the Excluded Countries. This press release as well as any and all other documents issued by the Offeror in the framework of the Offer shall not be intended and shall not be construed as an offer to purchase or as an invitation to sell financial instruments to U.S. Persons (as defined in the U.S. Securities Act of 1933, as later amended) or to persons residing in the Excluded Countries. No instrument may be offered or sold in the Excluded Countries unless the clearances required under the applicable provisions of law of such Excluded Countries have previously been obtained or such provisions may be derogated. The adherence to the Offer by persons residing outside of Italy may be subject to specific obligations or restrictions set out by the applicable laws or regulations. The compliance with any such laws and regulations shall be the exclusive responsibility of the addressees of the Offer, who shall therefore verify the existence and applicability of the Offer before adhering to it by seeking advice from own business consultants. The Offeror may not be held liable for the infringement by any person of the above limitations.