Based on current perimeter of consolidation and on current number of outstanding shares the independent financial analysis boutique calculated a €10.2 fair value per share compared to current €7.4 market price (+37,8%)

Milan, 31 January 2018. DHH S.p.A. (“DHH”) (DHH.MI | WDHH21.MI) (ISIN shares , a tech company whose mission is to create the “Internet Platform of the Emerging markets of Europe”, announced that Value Track, the independent financial
analysis boutique led by Marco Greco, published an initiation of coverage note on DHH.
Based on current perimeter of consolidation and on current number of outstanding shares Value Track calculated a €10.2 fair value per share compared to current €7.4 market price (+37,8%).

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