For its part, SICIT Group has detailed that the Non-Binding Offer is subject to the approval of the Board of Directors of Syngenta Crop Protection AG, to the performance of a confirmatory due diligence on a selected set of information, to access to the senior management of SICIT Group and the visit to the company's facilities. Any public offering that may be launched could, in any event, be subject to additional conditions, in particular obtaining regulatory approvals.

The Non-Binding Offer includes an industrial association proposal, addressed to the Company's stakeholders and, in particular, to Intesa Holding SpA (“Intesa Holding”), current controlling shareholder of the Company in accordance with article 93 of the Consolidated Finance Law (TUF) and also the person who acts in concert with NB Renaissance in the framework of the public offering promoted on April 16 by Circular BidCo SpA.

In particular, the Syngenta Group would be willing to offer Intesa Holding, should the latter decide to remain an investor in the SICIT Group, a shareholders' agreement to share governance. In this regard, the Syngenta Group expressed the desire for Intesa Holding to remain a long-term shareholder of the company and pointed to the relationship with Intesa Holding as an “essential element for the success of the transaction”. In the Non-Binding Offer, the Syngenta Group also expressed its willingness to discuss long-term commercial agreements with the company for the provision of services and for the collection and treatment of waste in favor of the interest groups of Intesa Holding, as well as the appropriate agreements aimed at ensuring that the local districts where the company's productive activity is located continue to benefit from the latter's presence.

Therefore, the SICIT Group Board of Directors resolved to allow the Syngenta Group to perform limited due diligence and will evaluate any potential offer in accordance with the principles of fairness and equal treatment (including equal information), with the in order to protect the market and all shareholders.

Founded in 1960 in Chiampo (VI), SICIT was one of the first companies in the world to introduce hydrolyzed proteins of animal origin in the world market for biostimulants. The company, one of the pioneers of the circular economy, through a process of hydrolysis of waste from the tanning industry, creates products with high added value for agriculture (biostimulants) and plaster industry (retardants). Thanks to a qualified team, highly automated and technological production plants, state-of-the-art laboratories and constant investments in R + D + i, SICIT has become an international benchmark operator, supplying the main players in the agrochemical and industrial sector. Since June 2020, the company has been listed on the flagship segment of the Borsa Italiana MTA (Italian Stock Market).