The shares will be placed at a price of €6.25 per share, corresponding to a pre-money capitalization of €250 million. The company has submitted to the Italian Stock Exchange the pre-admission communication for the EGM market. Smart capital and VSL CLUB will act as Cornerstone Investors

Naples, 7 May 2024 – NextGeo (“NextGeo” o la “Società”), a leading international company in the field of marine geosciences and offshore construction support services mainly in the energy sector, with a focus on renewable energies, announces to have initiated the roadshow of meetings with institutional investors, family offices, and professional investors both Italian and foreign for the listing on the Euronext Growth Milan market, managed by Borsa Italiana. The roadshow will include meetings in major European financial capitals such as Milan, London, and Paris, where NextGeo will present its strategic vision and long-term growth prospects to the most influential players in the financial market. These meetings represent an opportunity for investors to engage directly with management and gain deep insight into the company’s value and strategy. In parallel with the meetings, NextGeo has opened the bookbuilding process, marking a crucial moment in the path towards listing. Yesterday, the Company submitted to Borsa Italiana the pre-admission communication, functional to the admission of its shares to trading on the Euronext Growth Milan market.

The IPO operation will take place through a capital increase of over Euro 50 million. The shares will be placed at a price of €6.25 which corresponds to a pre-money capitalization of €250 million. Additionally, an option to purchase ordinary shares corresponding to a maximum of 15% of the offer (so-called Greenshoe option) was granted by some current shareholders. Smart Capital and VSL Club will act as Cornerstone Investors in the IPO, through the subscription of a total amount of the capital increase equal to a minimum of €11 million. The listing admission is scheduled for May 20, 2024.

Attilio Ievoli, President of NextGeo and CEO of Marnavi Group: “When NextGeo was created in 2014 we immediately believed deeply in the project. Due to our cultural and professional background, we think that technological innovation is the basis of growth in a competitive and ever-changing industry like ours. In this short period of time, we have developed, thanks to highly qualified professionals, solutions that have demonstrated the goodness and validity of the business model, confirming us among the reference companies in the field of marine geosciences. Now, with the entry into the Italian Stock Exchange we intend to give a further boost to our growth. The funds raised will indeed contribute to financing new development projects that will allow us to be even more competitive both nationally and internationally”.

Giovanni Ranieri, CEO of NextGeo, commented: “We chose to undertake the listing process considering it a natural step for our growth. Our sector is experiencing an important phase of evolution and we want to increasingly establish ourselves among the market leaders. The capital raised will be used to continue to innovate by developing cutting-edge technological solutions aimed at satisfying the complex and varied needs of our customers who operate mainly in the renewable energy sector. In parallel with the R&D activities, we intend to strengthen our fleet of ships and integrate our value chain by adding further strategic services; finally, we are also thinking about a possible geographical expansion”.

Next Geosolutions (NextGeo) is a leading international company in marine geosciences and offshore infrastructure construction support in the energy sector, with a particular focus on renewable energy. NextGeo closed 2023 with strong growth results that reflect the company’s growing success in its industry. The value of production rose 121% to € 148.6 million thanks to effective commercial and business strategies that facilitated winning more and larger contracts. EBITDA stood at € 40.5 million, up 281% year-on-year with an EBITDA Margin of 27%, and EBIT more than quadrupled to € 35.3 million with an EBIT Margin of 24%. Net profit almost quadrupled to € 29.2 million.

As at February 28th 2024, the Backlog (understood as the Group’s order book, including only the contractual value of projects already secured by the Group) amounted to approximately € 325 million, of which € 204 million refers to contracts scheduled for execution during 2024. In the listing process, NextGeo was assisted by IMI Intesa Sanpaolo S.p.A., as Global Coordinator, Specialist and Joint Bookrunner, Alantra Capital Markets as Euronext Growth Advisor and Joint Bookrunner, by IPO Coach as Financial Advisor, by PricewaterhouseCoopers S.p.A., as Auditor, Financial DD and Management Control System, by Chiomenti as legal advisor, by Cleary Gottlieb Steen & Hamilton LLP as legal advisor to the banks, by Studio Cerrito as Payroll DD, by RSM Società di Revisione e Alleanza Contabile S.p.A. as financial & tax due diligence advisor, and by CDR Communication as Advisor of the Company in matters of Investor Relations and the Company’s Press Office.

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ABOUT NEXTGEO

Next Geosolutions (NextGeo) is a leading international contractor providing marine geoscience survey services and offshore construction support services to the energy sector, with a special focus on offshore renewables. Established at the end of 2014 and part of the Marnavi group – the largest Italian shipowner operating globally in the offshore sector

– NextGeo offers turnkey survey solutions and support services for the design, engineering and construction of offshore infrastructures, with high quality standards, thanks to a solid know-how in the offshore sector, consolidated over a few decades. With a large fleet of latest generation DP2 class vessels and a multi-ethnic team of over 300 qualified and experienced professionals, NextGeo guarantees a wide range of services ranging from specialized services in the field of marine geophysics and geotechnics, to environmental and archaeological investigations up to the identification and removal of UneXploded Ordnances (UXO) as well as offshore construction support services. NextGeo closed FY 2023 with a production value of €148.6 million and a net profit of €29.2 million.

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