Milan, April 22^nd 2020 - The Prada S.p.A. Board of Directors met today and resolved to withdraw the recommendation it made at the previous meeting regarding the distribution of a final dividend. The Board recommends the approval at the forthcoming Shareholders’ General Meeting, due to take place on May 26^th 2020, of the allocation of the entire 2019 net income to the reserves of the company.

Due to the current global financial crisis caused by the widespread COVID-19 pandemic, the Board of Directors has made this decision to allow the Prada Group to access further resources to rapidly go back to its previous activity levels in the next months.