Rating

MUSEI DEL CIBO | RATING N. 1.1

Issuer Rating Certificate reviewed on September 1^st 2025.

A A A  |  High probability of fulfilling

The Tokens issued by the Food Museums are classified with AAA rating.
The Issuer has a high probability of fulfilling the commitments declared.

The Tokens issued by the Food Museums are not intended for speculative purposes, are nominative and personal, and are issued exclusively to each Member in the Register of Holders of its issues, according to the Terms published on the issuance platforms accessible via the website www.aaatokens.com/en.

The Issuer declares its intention to use the resources collected for institutional purposes, promoting, enhancing and spreading the heritage of values and knowledge preserved by the Food Museums, which they collect, protect, and share with all gourmet enthusiasts.

The values of the resources collected by the Issuer are communicated publicly with transparency and accuracy and are made accessible on the issuance platforms. The collected resources are directed to a single destination account in the name of the Issuer. The issuance process is certifiable for high efficiency, allocating to the declared purposes a percentage equal to or greater than two-thirds of the collected resources.

The digital issuance and registration processes take place on dedicated platforms, and the recorded data are stored on centralized, encrypted ledgers protected with high security standards. These digital issuance and registration processes are sustainable, energy-efficient, and CO₂ emissions are fully offset.

The nature and purpose of the issues, as well as the characteristics of the Tokens offered, the quantities, and the values of the collected resources, are certified by the Independent Arranger I&B - Marketing Network Milano Srl as consistent with the statements publicly made by the Issuer at the time of issuance.

MUSEI DEL CIBO
I&B RATING
Milan, September 1^st 2025

I&B Rating Scale

Rating	Rationale
A A A	High Probability of fulfilling the declared commitments.
A A	Good Probability of fulfilling the declared commitments.
A	Adequate Probability of fulfilling the declared commitments.
B	Uncertain Probability of fulfilling declared commitments.
C	Risky Probability of fulfilling the declared commitments.
D	Inability to fulfil the declared commitments.
N.R.	No Rating.

ISSUER RATING CERTIFICATES

MUSEI DEL CIBO | Rating N. 1.1	09/01/2025
A A A | High probability of fulfilling
MUSEI DEL CIBO | Rating N. 1.0	09/19/2024
A A A | High probability of fulfilling

ISSUANCE RATING CERTIFICATES

CZM IT 1 HC A 000 000 | Rating N. 1.0	09/2023
A A A | High probability of fulfilling