Primo Capital SGR S.p.A. hereby announcesthat it has joined the Arbitro per le Controversie Finanziarie, a system forthe out-of-court resolution of financial disputes between intermediaries andinvestors other than the eligible counterparties referred to in Article 6,paragraph 2-quater, letter d), and the professional clients referred to in thesubsequent paragraphs 2-quinquies and 2-sexies of the Consolidated Law onFinance (Testo Unico delle Finanze - TUF), regulated by Consob.

It should be noted that the right to refera matter to the Arbitro per le Controversie Finanziarie cannot be waived by theinvestor and may always be exercised, even where contracts contain clausesreferring disputes to other out-of-court dispute resolution bodies. For furtherinformation, please refer to the website of the Financial Disputes Arbitrator:http://www.acf.consob.it.