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De Tomaso launches €1.6m P72 Luxury Hypercar as ESGL Business Combination Nears Completion

1. ESGL announces merger milestone with De Tomaso Automobili's P72 production unveiling. 2. The P72 reflects De Tomaso's commitment to mechanical purity and driving experience. 3. The merger is expected to close in June 2025, contingent on approvals. 4. Media attention increasing around P72 could boost investor sentiment. 5. The merger positions ESGL for significant growth in the luxury automotive space.

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FAQ

Why Bullish?

The merger's successful completion could unlock growth, similar to past luxury automotive mergers.

How important is it?

The merger significantly enhances ESGL's market position in luxury automotive space.

Why Long Term?

The effects of the merger will unfold over years as brand recognition and sales grow.

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SINGAPORE, May 16, 2025 (GLOBE NEWSWIRE) -- ESGL Holdings Limited (NASDAQ: ESGL), a leader in sustainable circular solutions, announces a major milestone in its strategic merger with De Tomaso Automobili: the official unveiling of the production specification P72. This event reinforces the strong operational and brand foundation of the combined company, as the proposed business combination approaches its targeted closing in June 2025. The P72, originally revealed as a concept at the 2019 Goodwood Festival of Speed, now enters its production form. Developed on a clean-sheet carbon fibre chassis and powered by a bespoke 5.0L supercharged V8 engine, the P72 represents a return to timeless, mechanical design and driver-focused engineering. “The P72 is our promise made real,” added Norman Choi, CEO of De Tomaso Automobili. “It reflects our pursuit of mechanical purity, design heritage, and craftsmanship that transcends trends. As we take this next step with ESGL, we remain committed to creating vehicles that stir the soul and celebrate the analogue driving experience.” This unveiling marks the readiness of De Tomaso to commence customer deliveries in late 2025 and reaffirms the shared vision between the two companies. The production vehicle revealed today is an internal unit, separate from the 72 custodian allocations, and showcases the final engineering, design, and build quality De Tomaso will deliver at scale. “The launch of the production P72 signals to investors that De Tomaso is ready to scale. This is more than a car—it is a commercial catalyst,” said Lawrence Law, Executive Director of ESGL Holdings. “As we near completion of our merger, this milestone underlines the strategic value we can create together.” The proposed business combination between ESGL and De Tomaso is expected to close in June 2025, subject to shareholder and regulatory approvals. Media Coverage and Exclusive Viewing The production-spec De Tomaso P72 is now available for invite-only viewings at Miller Motorcars in Greenwich, Connecticut, with limited public displays to follow. This exclusive showcase offers a rare opportunity to experience the vehicle’s breathtaking design and mechanical purity up close.The launch has already ignited global media attention. Top Gear featured the P72 in a headline piece, calling it “a dreamy hypercar with mechanical soul and timeless design.” You can read the article at: https://www.topgear.com/car-news/first-look/stunning-eu16m-detomaso-p72-finally-ready-production More information about the launch and the P72 can be found www.detomaso-automobili.com About ESGL Holdings Limited ESGL Holdings Limited (NASDAQ: ESGL) is a Singapore-based leader in sustainable circular solutions for the chemicals, electronics, and manufacturing sectors. Through its proprietary technology and ESG-first strategy, ESGL transforms waste into high-value circular products, enabling a low-carbon and resource-efficient future. About De Tomaso Automobili Founded in 1959 in Modena, Italy, De Tomaso is a storied automotive brand blending Italian design with motorsport heritage. Revived in 2014 under the leadership of Norman Choi, the company is committed to building emotionally resonant, mechanically pure vehicles for a new generation of enthusiasts. Investor & Media Contacts:ESGL Holdings LimitedInvestor Relations: ir@esgl.asiaWebsite: www.esgl.asia De Tomaso AutomobiliMedia Inquiries: media@detomaso-automobili.comWebsite: www.detomaso-automobili.comInstagram: @detomaso_official Forward Looking Statements Certain statements in this press release may be considered to contain certain “forward-looking statements” within the meaning of “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “target,” “believe,” “expect,” “will,” “shall,” “may,” “anticipate,” “estimate,” “would,” “positioned,” “future,” “forecast,” “intend,” “plan,” “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Examples of forward-looking statements include, among others, statements made in this press release regarding ESGL’s and De Tomaso Automobili’s expectations with respect to future performance, the anticipated financial impact of the proposed business combination, the satisfaction of the closing conditions to the share purchase agreement and the timing of the completion of the proposed business combination. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on ESGL management’s current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Actual results and outcomes may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. A further list and description of risks and uncertainties can be found in documents filed with the SEC by ESGL and other documents that ESGL may file or furnish with the SEC, which you are encouraged to read. Any forward-looking statement made by us in this press release is based only on information currently available to ESGL and speaks only as of the date on which it is made. ESGL undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise, except as required by law. No Assurances There can be no assurance that the proposed business combination will be completed, nor can there be any assurance, if the proposed business combination is completed, that the potential benefits of the business combination will be realized. A PDF accompanying this announcement is available at: http://ml.globenewswire.com/Resource/Download/a7d367d1-d728-4ff4-9005-9dcbbbe27560

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