Loano, 17th March 2020

Dear Clients, dear colleagues and partners and dear friends,

Over these last weeks, Italy and the whole world have been experiencing a pandemic that is affecting and will affect our lives for the next months.

Italy has been hit hard, especially the Northern part of the country, but thanks to countermeasures put in force almost immediately by our Government, properly respected by the population, the rates of contagion seem are being brought under control. Nobody from the Northern region can leave the area, as defined by Government rules.

The public national health system is facing the emergency properly, providing the necessary assistance and checks. We are proud of our health system which is once more proving itself to be a world excellence.

The authorities are expecting the peak of cases in the Northern regions for this week. If this happens, at least the situation will not get worse. This means that soon after that, little by little, these regions may start recovering. In the Northern regions all essential services and most of the key important production activities are active, as well as the supply and exchange of goods.

Our region Liguria and in particular the area round Loano, has experienced for the time being, now 6 weeks since the start of the crisis, a manageable number of cases. Most economic activities are open and goods are circulating.

The situation at Amico Loano:

Amico Loano has been open during this period, though with a progressive slowing down of production activities, due both to the adoption of health measures and to the situation in general.

Amico Loano will remain open.

We expect still a further period of around 2-3 weeks where activities will be slowed up, partly due to spare part delivery issues.

By taking precautions and giving our contribution to safeguard our people, clients, suppliers and our nation from the risk of an exponential growth in cases, we expect to see a turnaround within the end of March.

Looking in perspective to the upcoming months, from April on, we are confident that production activities will start recovering.

Amico Loano, like Amico & Co, has a particular organization that should allow us to better control and recover our production potential in these circumstances. Our consistent in-house departments and mostly local partners network and supply chain allow us to look to the future months with confidence.

We know that this situation will get better, but it will not be resolved in a short period. We need to change our habits and work in a different manner, being flexible and proactive, seeking new solutions.

Our commitment towards our clients and the crews will not change, and we look forward to meeting each one of you to evaluate the best possible solutions for your needs; our flexibility and resilience will help. Your usual contacts are at your complete disposal should you need to know more about the practical measures that we have put into place.

We will keep you updated promptly as the situation evolves.

Warmest regards,

Franco Cattai

Amico Loano