MOSAICO PIU

Sassuolo, October 29th 2024

Dear Clients, Partners, and Suppliers,

We hereby inform you that, following a thorough analysis of our performance and market position, we have unfortunately observed persistently unsatisfactory results, both commercially and financially. This is despite our hopes that the significant investments made, along with the commitment of the company and the entire staff, would have allowed for a turnaround.

This situation, coupled with stagnation in the sector in which M+ operates, as well as ongoing inflationary and political factors that have caused significant market contractions, has led us to consider it more appropriate to gradually cease promotional and sales activities. Therefore, we will suspend the acquisition of any new orders as of November 30th, 2024, which will be confirmed upon verification of stock availability in the warehouse. This measure aims to avoid further investments and allow us to focus our resources on fulfilling existing orders and utilizing remaining stock.

We trust that you understand the circumstances that have unfortunately arisen and the decision taken by the company. We confirm that all orders placed to date will be fulfilled as product availability allows, and in accordance with the previously established timelines.

With best regards,

MOSAICO+ srl

The managing Director

Stefano Nencioni