A NEW PARTNERSHIP BETWEEN FERRARI S.p.A AND ITAL AUTO MALAYSIA SDN BHD

Kuala Lumpur, May 11 2023 - Ital Auto Malaysia Sdn Bhd, is proud to announce a new partnership between Ferrari S.p.A. & Ital Auto Malaysia Sdn Bhd. From the 5th of May 2023, Ital Auto Malaysia Sdn Bhd has been appointed by Ferrari S.p.A. as the Authorized Ferrari Importer in Malaysia. Ital Auto Malaysia Sdn Bhd is a subsidiary of Ital Auto Pte Ltd, the Authorized Ferrari Importer in Singapore since 2009.

Ital Auto Pte Ltd is a subsidiary of Komoco Holdings Pte Ltd, a Singapore-based regional automotive group. Komoco Holdings is part of a much wider group of luxury lifestyle, retail, hospitality and F&B businesses with a global footprint. Tapping into this footprint, Ital Auto Malaysia has a focus on enhancing the ownership experience for Ferrari Clients in Malaysia.

In order to ensure a smooth transition for all Ferrari clients in Malaysia, Ital Auto Malaysia Sdn Bhd and Naza Italia Sdn Bhd have effected a successful transfer of assets related to the Ferrari franchise, which will result in Ital Auto Malaysia taking over Naza Italia's existing client deposits and bookings for Ferrari Vehicles. The entire existing operational team from Ferrari Malaysia – Naza Italia have been transferred over to Ital Auto Malaysia in order to ensure continuity for clients as well as a smooth start to operations.

An interim service facility in Glenmarie is currently being constructed by Ital Auto Malaysia & will be ready to provide Ferrari Aftersales services to clients by June 2023. This will be followed by an Interim City Showroom, located in the retail podium of Four Seasons Hotel Kuala Lumpur, expected to be completed by August 2023. A brand new flagship Ferrari 3S centre featuring Ferrari's exacting corporate identity standard, will open its doors to Ferrari clients in Malaysia in Q1 of 2025.

About Ital Auto Pte Ltd:

Incorporated in June 2009 as the exclusive Official Ferrari Importer in Singapore, Ital Auto Pte Ltd opened its showroom doors on 26 Sept 2009 with the firm commitment of offering the highest levels of customer care in all areas of its business.

Located at 30 Leng Kee Road, in the heart of the Singapore automotive belt, Ital Auto's showroom features the latest expression of Ferrari's retail corporate identity, a full complement of luxury amenities, as well as exceptional Aftersales facilities, including a state of the art paint and body repair shop.

Since its inception, Ital Auto is committed to consistently achieve high standards in its service standards as well as keeping its clients engaged through regular activities. In 2018, it was recognised by the brand as the Dealer of the Year for the South-East Asia and Korea region.

About Komoco Holdings Pte Ltd:

Established as Komoco Motors in 1986, Komoco Holdings Pte Ltd has evolved to become one of Singapore's largest automotive group of companies with a diversified portfolio of automotive brands that includes Hyundai, Alfa Romeo, Jeep, Ferrari and Maserati.

Catering to a wide spectrum of the market from daily drivers for the masses to supercars, luxury cars and rugged off road vehicles for the collectors, connoisseurs and adventurous, the group has a proven track record in sales and aftersales support.