THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU, WHICH IS PART OF UNITED KINGDOM DOMESTIC LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

8 November 2022

 Zamaz plc

"Zamaz" or "the Company"

 Update on Subsidiary Acquisition

Zamaz Plc, the London-based international e-commerce and retail technology business, is pleased to announce that the controlling interest in Eccellenze S.r.l. ("Eccellenze") agreed to be acquired by the Company's wholly-owned subsidiary, Bella Dispensa, has been increased from 70 per cent., as announced on 10 October 2022, to 72.61 per cent.

The aggregate consideration for the acquisition has therefore increased to €438,840, to be satisfied by the issue to the vendors of 3,470,820 new Ordinary shares in Zamaz (the "Acquisition Shares"). Bella Dispensa also has a three year option to acquire the remaining 27.39 per cent. of Eccellenze for an additional € 241,500 in shares.

Eccellenze is a luxury food products business based in Milan with a retail store located on Milan's prestigious Corso Venezia, one of the city's most exclusive and elegant avenues, being part of the upscale Quadrilatero della moda shopping district. Recently established in Q4 2021, Eccellenze has grown rapidly, and now offers over 1,000 premium quality food products in-store. Its highly experienced management team has also developed a unique eno-gastronomic "lifestyle shopping experience" for its growing, highly discerning client base.

Daniele Besnati MD of Bella Dispensa, commented:

" We are delighted to have been able to acquire this additional stake in Eccellenze  which provides us with an even greater opportunity to benefit from the very substantial growth in online luxury food and grocery shopping both in Italy and internationally, whilst at the same time further expanding our premium customer base who require and appreciate our ethos of quality and sustainability."

The Company will make appropriate applications to admit the Acquisition Shares to trading and a further announcement in this regard will be made in due course.

For the purposes of UK MAR, the person responsible for arranging release of this announcement on behalf of Zamaz is Martin Groak, Chairman.

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About Zamaz plc

Zamaz plc is a technology driven e-commerce business that originates, acquires or licenses, operates and scales small and medium-sized brands with category-winning products on global marketplaces. With ever prolific customer data sources, the advent of turnkey e-commerce website platforms, such as Shopify, and a thriving ecosystem of third-party software integrators, the options available to launch and build brands that can be marketed, sold, and shipped online quickly and globally with limited risk have never been more compelling. Such marketplaces, led by Amazon and eBay, also provide connection to millions of consumers, and have become a first-choice route-to-market for a generation of micro and small and medium-sized enterprise businesses.

Zamaz mines and analyses data from such online retail technology platforms which provide significant insights into consumer shopping behaviour and trends and enable the business to deploy, market and sell an optimised portfolio of brands, products, packs and prices aligned with active, real-time consumer needs and demands principally on UK and EU Amazon marketplaces.