ARES Modena S.r.l. is aware of the statements recently released by Pilati Capital Ltd regarding plans to distribute five (5) bespoke cars, that ARES Modena should have realized on commission of Pilati Capital Ltd.

ARES Modena wholly rejects what has been reported in the media by Pilati Capital Ltd and also denies the sale of its intellectual properties in the form of NFT.

Moreover, ARES Modena refutes its participation in the "London EV Show 2021" and the existence of any kind of relationship or collaboration with the brand "Hermes" owned by Hermès International.

ARES Modena SrL is constantly looking for new business opportunities and is naturally inclined to experiment with innovative ways to expand its brand and to promote its projects. However, said projects will operate within the perimeter of the contractual commitments undertaken and respecting the interests of customers, partners and stakeholders.