Kaleon wins the tender to manage the first third-party asset since listing: the Castle of Vogogna joins the portfolio

The transaction confirms the Company’s strategy to enhance cultural heritage assets through a distinctive managerial model

Milan, 1 July 2026 – Kaleon S.p.A. (“Kaleon” or the “Company”), a company linked to the Borromeo family and specialized in the management and enhancement of major artistic, natural and museum heritage assets for tourism purposes, listed on Euronext Growth Milan (Ticker: KLN) and Euronext Growth Paris (Ticker: ALKLN), announces that it has been awarded the management of the Castle of Vogogna, located in the heart of the medieval village of the same name in the Verbano-Cusio-Ossola area, for a period of nine years.

The asset represents the first third-party property taken under management by Kaleon since its listing, marking a significant milestone in the Company’s development trajectory and in the implementation of its business model, which is based on the separation between ownership and management of cultural assets.

The award, secured following the Company’s participation in its first public tender procedure, confirms Kaleon’s ability to position itself as a qualified partner for public and private entities seeking to enhance cultural assets through managerial expertise and a long-term vision.

Located in the medieval village of Vogogna, in the Verbano-Cusio-Ossola area, just a few kilometres from Lake Maggiore and home to the Val Grande National Park, within a setting of significant historical, cultural and landscape value, the Castle — which is already open to the public and available for visits — represents a landmark with a strong territorial identity. Kaleon will further develop its potential through an integrated management approach, with the aim of strengthening its positioning as a cultural destination, expanding opportunities for public access and enjoyment, and contributing to the tourism development of the wider area.

The project provides for extensive promotion and communication activities, leveraging the Company’s experience in building and positioning cultural and tourism brands. The Castle will become part of the Kaleon network, benefiting from its established commercial and digital channels, participation in industry trade fairs, partnerships with tour operators and OTA platforms and a marketing strategy designed to increase its visibility, appeal and ability to generate new visitor flows.

In support of this strategy, an integrated offering will be developed, including visitor reception and ticketing services, guided tours, educational activities, cultural events, light catering, a bookshop and dedicated merchandising, with particular focus on engaging the local community through partnerships with the surrounding area, initiatives for residents and activities aimed at schools and families.

The transaction is fully aligned with Kaleon’s growth strategy, which aims to expand its business both by strengthening the sites already in its portfolio and through the management of new third-party-owned properties in Italy and abroad. The Company’s model, developed over more than forty years of experience in tourism and cultural management, seeks to preserve the historical and artistic heritage of the sites while promoting efficient, sustainable management centred on the visitor experience.

With the Castle of Vogogna, Kaleon expands its network of fortified historic sites, adding the new asset alongside Rocca di Angera and the Castles of Cannero, which opened to the public in 2025 following a major restoration project.

“The management of the Castle of Vogogna represents an important milestone in Kaleon’s growth path. This is the first third-party-owned asset to enter the Company’s perimeter since the listing, an achievement that confirms the solidity of our model and our ability to place our expertise at the service of institutions, local areas and private owners, exactly as we had already done with Parco Pallavicino in 2017. Our objective will be to enhance the Castle while respecting its historical identity, helping to strengthen its appeal and generate new opportunities for cultural and tourism development for Verbano-Cusio-Ossola” said Vitaliano Borromeo, Chairman of Kaleon.

This press release is available at Borsa Italiana S.p.A., at the Company’s registered office and in the Investor Relations/Price-sensitive press releases section of the website www.kaleon.com.

For the dissemination of regulated information, Kaleon uses the eMarket SDIR system managed by Teleborsa S.r.l., with registered office at Piazza Priscilla 4, Rome.

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About Kaleon

Kaleon is a company founded in 1983 by the Borromeo family, specialising in the management, protection, and enhancement of major artistic, natural, and museum heritage assets. Its business model is innovative, separating asset ownership from asset management, thereby promoting an entrepreneurial approach to operations. The Company’s core business, Terre Borromeo, is the brand that identifies the prestigious cultural and natural sites on Lake Maggiore linked to the Borromeo family, such as Isola Bella and Isola Madre in the Borromean Islands archipelago, the Pallavicino Park in Stresa, the Mottarone Park with its 500 hectares of forest, the Rocca di Angera on the Lombardy side in the province of Varese, and the Cannero Castles in Upper Verbano. With 225 employees and over 40 years of experience in the tourism sector, Kaleon positions itself as a pioneer in high-quality cultural tourism. In 2025, Kaleon welcomed more than one million visitors. In 2024, the Company reported revenues of €21.7 million, with an operating margin of approximately 25%. Following steady growth (2013–2024 CAGR of +11%), the Company now aims to expand its activities in Italy and internationally, offering authentic and sustainable cultural experiences for future generations.

For more informations: https://kaleon.com/

CONTACTS

Kaleon S.p.A.
Giorgia Meretti
Communication Manager
g.meretti@kaleon.it
Tel: +39 338 672 7571

Kaleon S.p.A.
Dott. Alessandro Pedrazzini
Investor Relations Manager
investorrelations@kaleon.com
Tel: +39 338 937 7354

Barabino & Partners
Stefania Bassi
s.bassi@barabino.it
Tel: +39 335 628 2667

Carlotta Bernardi
c.bernardi@barabino.it
Tel: +39 333 947 7814

Virginia Bertè
v.berte@barabino.it
Tel: +39 342 978 7585

NewCap
Louis-Victor Delouvrier/ Théo Martin
Investor Relations
kaleon@newcap.eu
Tel: +33 01 44 71 94 96

NewCap
Nicolas Merigeau/Gaëlle Fromaigeat
Media Relations
kaleon@newcap.eu
Tel: + 33 01 44 71 94 98