The Leonardo’s Board of Directors, which met today, approved – instead of the Shareholders’ Meeting, pursuant to art. 2505, paragraph 2 of the Italian Civil Code and art. 24.1 of the Bylaws – the merger by incorporation of UTM Systems & Services S.r.l. into the Company. 

Today the operation (already disclosed with press release issued on July 30, 2024) was also approved by the Extraordinary Shareholders’ Meeting of UTM. Once the statutory deadlines have expired, the merger deed will be signed, with effect – also for accounting and tax purposes – starting from 1st January 2025.

As already reported the operation, proposed for economic and organizational reasons and, more specifically, for rationalization and simplification of the corporate chain, envisages – before the signing of the Merger Deed – the purchase by Leonardo of the shareholding (33.333%) held by Telespazio S.p.A. in the same UTM which, therefore, will become entirely owned by the Company.  

The minutes of the resolution adopted by the Leonardo's Board of Directors will be made available to the public within the terms and in accordance with the provisions of law. Reference is also made to the Merger Plan and to further documentation already available on the Company's website (https://www.leonardo.com/en/, Corporate Governance section/ Extraordinary Operations).