Milan, 9 February 2026 — Near announces the launch of full operations following the corporate steps completed in recent weeks. Near is born from the merger of Redo Sgr Benefit Corporation and EuroMilano: a new Italian hub dedicated to urban regeneration and living, founded on the strategic integration of expertise, experience, shared vision and impact orientation. It is an integrated platform for institutional investors that combines investment, development and real estate services across the entire value chain.

This concludes the process begun in June 2025, which saw the entry of Near’s new shareholders, whose capital is today held by leading institutional players: Fondazione Cariplo, Intesa Sanpaolo, Fondazione Monte di Lombardia, Cassa Forense, Kryalos Sgr and Cooperativa LUM.

Near positions itself as a global partner in end-to-end real estate development, leveraging distinctive expertise in complex urban regeneration and living, with integrated governance and a long-term industrial vision. The approach combines sustainability, measurable impact and financial return, uniting investment management and real estate services across the entire value chain with services covering origination, development, asset management, sales and the customer journey.

Boards of Directors of the group companies:

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Luigi Borré, Chairman; Fabio Carlozzo, Chief Executive Officer; Marika Arena; Vincenzo Barbieri; Paolo Massimiliano Bottelli; Marco Carabelli; Antonio Maria Colnaghi; Walter Militi; Cristian Chizzoli; Nicoletta Ravasio; Tiziana Vallone.

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Carlo Cerami, Chairman; Fabio Carlozzo, Chief Executive Officer; Vincenzo Barbieri; Marina Bottero; Sonia Ginelli; Giuseppe Guastamacchia; Silvana Turri.

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Luigi Borré, Chairman; Attilio Di Cunto, Chief Executive Officer; Silvia Lirici; Chiara Sinelli; Elisabetta Bani; Ivan Barbieri; Claudio Licchello.

Giovanni Azzone, Chairman of Fondazione Cariplo: “There is a broad debate on the topic of finance at the service of people. It is a concept at the heart of Fondazione Cariplo’s work, which invests its assets to generate resources to be allocated to projects for the common good in local communities. Investments in social housing initiatives are a formidable example of what we call impact finance. Inequalities among people in our communities are increasingly pronounced, and the issue of housing is central: we need to implement initiatives that enable families to access a home, and young people to live in student accommodation. Social housing is exactly this. The decision to create a major group with this purpose is strategic, consistent and complementary with what we do on other fronts through our philanthropic activities. We are aware of the difficulties facing the housing market, but we cannot resign ourselves and stop looking for solutions. Near, which was also born thanks to Fondazione Cariplo’s pioneering experience in this field, has this objective.”

Flavio Gianetti – Chief Equity Legal & M&A Officer, Intesa Sanpaolo: “The reorganisation process of the Near group represented a strategic step of great significance; we have been involved from the earliest stages, thus contributing to the creation of an even more solid, integrated reality, ready for the challenges the sector will be called upon to face. Over the years, Intesa Sanpaolo has been an active participant in both Redo SGR and EuroMilano, and seeing a new and larger business entity emerge from their union can only make us proud. Reaffirming our commitment, moreover, demonstrates the Bank’s willingness to support an industrial project capable of combining growth, innovation and attention to social and environmental impacts, strengthening dialogue with reference communities, public administrations, industry operators and the financial system.”

“The birth of Near,” stated Paolo Bottelli, Chief Executive Officer of Kryalos, “brings to the regeneration and living market a highly qualified operator with extensive know-how, to which, as Kryalos, we aim to contribute expertise in the management of complex projects as well as an important network of relationships with leading international investors.”

The Chairman of Fondazione Monte di Lombardia, Prof. Mario Cera, stated: “Fondazione Monte di Lombardia has firmly decided to participate in this important Near real estate initiative, both for its concrete social implications — particularly regarding the impact of these initiatives on housing needs between Milan and Pavia — and for the benefit-oriented mission shared with the other highly significant players forming part of the shareholder structure.”

“Cooperativa LUM wholeheartedly embraces the Near project, recognising its strategic role in the sustainable and inclusive development of the city of Milan. In a constantly evolving urban context, we consider it a priority to guarantee housing opportunities for middle-income workers, for whom access to housing is today an urgent need”, declared Vincenzo Barbieri, Chairman of LUM. “

We enter this alliance with a proactive approach, aiming to foster ongoing dialogue between impact finance and cooperation, in order to make new models of affordable housing both tangible and scalable. Drawing on its century-long history, the Cooperative approaches this journey with a vision fully aligned with Near’s objectives: building not just buildings, but the conditions for dignity and a future for the Milan community.

Starclex, with a team led by Romina Guglielmetti and Carlo Riganti, comprising Idalia D’Alessandra and Barbara Patania, handled the contractual, corporate, regulatory and governance aspects of the transaction.

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Near is the new Italian hub for impact-oriented urban regeneration and living, born from the merger of Redo Sgr Benefit Company and EuroMilano. An integrated platform for institutional investors, Near combines investment management and real estate services across the entire value chain (origination, development, asset management, delivery, sales), with integrated governance and a long-term industrial vision. With over €2 billion under management and 12 active funds (Art. 8 and Art. 9 SFDR), Near operates as the financial engine of urban regeneration projects with strong social and environmental impact. On the development front, the platform drives large-scale transformations — 6 urban areas (2.5 million sqm in Milan) and 4 public parks (660,000 sqm) — and currently manages a pipeline of over 2,650 apartments and 880 beds. Completing the model is asset management: over 40 years of experience and a portfolio of 2,300 apartments and 1,500 beds under management, with integrated services. Near thus combines industrial vision, operational capacity and territorial impact.

This vision takes shape in flagship projects such as UpTown – Cascina Merlata, a laboratory neighbourhood with a park and integrated services; ARIA – Ex Macello, the city’s first carbon-negative district; L’Innesto, Italy’s first carbon-neutral social housing district; and MilanoSesto, developed in collaboration with COIMA, one of the most extensive urban transformations in Europe. These are joined by UnaPavia – Ex Neca, which includes student residences, open-market housing and new services for the city.