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<TITLE>Form 20-F</TITLE>
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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, D.C. 20549 </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">20-F</FONT></B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>(Mark One) </B></P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9744;<B></B><B></B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934
</B></P></TD></TR></TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OR </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9744;<B></B><B></B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
</B></P></TD></TR></TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>For the fiscal year ended
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OR
</B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9744;<B></B><B></B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
</B></P></TD></TR></TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OR </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9746;<B></B><B></B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman; " ALIGN="left"><B>SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
</B></P></TD></TR></TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Date of event requiring this shell company report: December&nbsp;14, 2022 </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Commission File Number: <FONT STYLE="white-space:nowrap">001-41569</FONT> </B></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>LANVIN GROUP HOLDINGS LIMITED </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of Registrant as specified in its charter) </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Not applicable</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>Cayman Islands</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(Translation of Registrant&#146;s name into English)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Jurisdiction of incorporation or organization)</B></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Lanvin Group Holdings Limited </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap">3701-02,</FONT> Tower S2, Bund Finance Center, </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>600 Zhongshan Rd East No.2, </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Shanghai, 200010, China </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices) </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Yun Cheng </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Telephone:
(021) 6315 3873 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Email: ir@lanvin-group.com </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>At the address of the Company set forth above </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name, Telephone, Email and/or Facsimile number and Address of Company Contact Person) </B></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Securities registered or to be registered pursuant to Section&nbsp;12(b) of the Act: </B></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Title of each class</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Trading Symbol(s)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Name of exchange</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>on which registered</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Ordinary shares</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>LANV</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>New York Stock Exchange</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Warrants</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>LANW</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>New York Stock Exchange</B></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Securities registered or to be registered pursuant to Section&nbsp;12(g) of the Act: </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>None </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Title of Class)
</B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Securities for which there is a reporting obligation pursuant to Section&nbsp;15(d) of the Act: </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>None </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Title of Class)
</B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate the number of outstanding shares of each of the issuer&#146;s classes of capital or common stock as of the close of the period covered by the shell
company report: 130,971,070 ordinary shares, one convertible preference share and 31,980,000 warrants as of December&nbsp;14, 2022. <B><I></I></B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities
Act.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9746; </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If this report is an annual or transition report,
indicate by check mark if the registrant is not required to file reports pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9744; </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant (1)&nbsp;has filed all reports required to be filed by Section&nbsp;13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)&nbsp;has been subject to such filing requirements for the past 90
days.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9746; </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant has
submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period
that the registrant was required to submit such files).&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&#9746;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9744; </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a <FONT STYLE="white-space:nowrap">non-accelerated</FONT>
filer, or an emerging growth company. See definition of &#147;large accelerated filer,&#148; &#147;accelerated filer,&#148; and &#147;emerging growth company&#148; in Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Exchange Act. </P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Large&nbsp;accelerated&nbsp;filer</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">Accelerated&nbsp;filer</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="white-space:nowrap">Non-accelerated&nbsp;filer</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9746;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Emerging&nbsp;growth&nbsp;company</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9746;</TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if
the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards&#134; provided pursuant to Section&nbsp;13(a) of the Exchange Act.&nbsp;&nbsp;&#9744; </P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#134;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The term &#147;new or revised financial accounting standard&#148; refers to any update issued by the Financial
Accounting Standards Board to its Accounting Standards Codification after April&nbsp;5, 2012. </P></TD></TR></TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the
registrant has filed a report on and attestation to its management&#146;s assessment of the effectiveness of its internal control over financial reporting over Section&nbsp;404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered
public accounting firm that prepared or issued its audit report.&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark which basis of accounting the registrant has
used to prepare the financial statements included in this filing: </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">U.S. GAAP&nbsp;&nbsp;&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International Financial Reporting Standards as issued</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">Other&nbsp;&nbsp;&#9744;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;by the International Accounting Standards Board</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9746;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If &#147;Other&#148; has been checked in response to the previous question indicate by check mark which financial statement
item the registrant has elected to follow.&nbsp;&nbsp;&nbsp;&nbsp;Item 17&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;Item 18&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If this is
an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Exchange
Act).&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(APPLICABLE ONLY TO ISSUERS INVOLVED IN
BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS) </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant has filed all documents and reports required to be filed
by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9744; </P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc"></A>TABLE OF CONTENTS </B></P>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_1">EXPLANATORY NOTE</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_2">CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_3">PART I</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_4">ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_5">ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_6">ITEM 3. KEY INFORMATION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_7">ITEM 4. INFORMATION ON THE COMPANY</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_8">ITEM 4A. UNRESOLVED STAFF COMMENTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_9">ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_10">ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_11">ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_12">ITEM 8. FINANCIAL INFORMATION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_13">ITEM 9. THE OFFER AND LISTING</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_14">ITEM 10. ADDITIONAL INFORMATION </A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_15">ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_16">ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY
SECURITIES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_17">PART II</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_18">PART III</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_19">ITEM 17. FINANCIAL STATEMENTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_20">ITEM 18. FINANCIAL STATEMENTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_21">ITEM 19. EXHIBITS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_22">EXHIBIT INDEX</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx417767_23">SIGNATURE</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>

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<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx417767_1"></A>EXPLANATORY NOTE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On December&nbsp;14, 2022 (the &#147;Closing Date&#148;), Lanvin Group Holdings Limited, a Cayman Islands exempted company incorporated with limited liability
(&#147;LGHL&#148; or the &#147;Company&#148;), consummated the previously announced business combination pursuant to the business combination agreement, dated as of March&nbsp;23, 2022 (as amended on October&nbsp;17, 2022, October&nbsp;20, 2022,
October&nbsp;28, 2022 and December&nbsp;2, 2022, the &#147;Business Combination Agreement&#148;), by and among (i)&nbsp;the Company, (ii)&nbsp;Primavera Capital Acquisition Corporation, a Cayman Islands exempted company incorporated with limited
liability (&#147;PCAC&#148;), (iii) Lanvin Group Heritage I Limited, a Cayman Islands exempted company incorporated with limited liability and wholly-owned subsidiary of LGHL (&#147;Merger Sub 1&#148;), (iv) Lanvin Group Heritage II Limited, a
Cayman Islands exempted company incorporated with limited liability and wholly-owned subsidiary of LGHL (&#147;Merger Sub 2&#148;), and (v)&nbsp;Fosun Fashion Group (Cayman) Limited, a Cayman Islands exempted company incorporated with limited
liability (&#147;FFG&#148;). Pursuant to the Business Combination Agreement, (i)&nbsp;PCAC merged with and into Merger Sub 1, with Merger Sub 1 surviving and remaining as a wholly-owned subsidiary of LGHL (the &#147;Initial Merger&#148;), (ii)
following the Initial Merger, Merger Sub 2 merged with and into FFG, with FFG being the surviving entity and becoming a wholly-owned subsidiary of LGHL (the &#147;Second Merger&#148;), and (iii)&nbsp;subsequently, Merger Sub 1 as the surviving
company of the Initial Merger merged with and into FFG as the surviving company of the Second Merger, with FFG surviving such merger (collectively with the Initial Merger, the Second Merger and the other transactions contemplated by the Business
Combination Agreement, the &#147;Business Combination&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As part of the Business Combination: (i)&nbsp;each of PCAC&#146;s units (each consisting of
one Class&nbsp;A ordinary share of PCAC, par value US$0.0001 per share (&#147;PCAC Class&nbsp;A ordinary shares&#148;) and <FONT STYLE="white-space:nowrap">one-half</FONT> of one redeemable warrant, each whole warrant entitling the holder thereof to
purchase one PCAC Class&nbsp;A ordinary share at a price of US$11.50 per share, subject to adjustment (&#147;PCAC Warrant&#148;)) outstanding immediately prior to the effective time of the Initial Merger (the &#147;Initial Merger Effective
Time&#148;) (to the extent not already separated) was separated into one PCAC Class&nbsp;A ordinary share and <FONT STYLE="white-space:nowrap">one-half</FONT> of one PCAC Warrant; (ii)&nbsp;immediately following the separation of each PCAC unit,
each (x)&nbsp;PCAC Class&nbsp;A ordinary share and (y)&nbsp;Class&nbsp;B ordinary share of PCAC, par value US$0.0001 per share (&#147;PCAC Class&nbsp;B ordinary share&#148;), issued and outstanding immediately prior to the Initial Merger Effective
Time, was cancelled in exchange for the right to receive one newly issued ordinary share of LGHL, par value US$0.000001 per share (&#147;Ordinary Share&#148;); (iii) each PCAC Warrant outstanding immediately prior to the Initial Merger Effective
Time was assumed by LGHL and converted into a warrant to purchase one Ordinary Share (&#147;Warrant&#148;), subject to substantially the same terms and conditions as were applicable to such PCAC Warrant immediately prior to the Initial Merger
Effective Time; (iv)&nbsp;each ordinary share, <FONT STYLE="white-space:nowrap">non-voting</FONT> ordinary share and preferred share in FFG held by the shareholders of FFG issued and outstanding immediately prior to the effective time of the Second
Merger (excluding the preferred collateral share of FFG, par value EUR0.0001 per share, held by Meritz Securities co., Ltd, a corporation incorporated under the laws of the Republic of Korea (&#147;Meritz&#148;) (the &#147;FFG Collateral
Share&#148;)) was cancelled in exchange for the right to receive such number of newly issued Ordinary Shares that is equal to the quotient obtained by dividing US$2.6926188 by US$10.00 (subject to rounding); and (v)&nbsp;the FFG Collateral Share was
cancelled in exchange for the right to receive one newly issued convertible preference share of LGHL, par value US$0.000001 per share (&#147;Convertible Preference Share&#148;). Immediately prior to the Initial Merger Effective Time, Primavera
Capital Acquisition LLC (the &#147;Sponsor&#148;) surrendered 6,014,375 PCAC Class&nbsp;B ordinary shares to PCAC for no consideration pursuant to a letter agreement entered into in December 2022, following which the number of PCAC Class&nbsp;B
ordinary shares held by the Sponsor was reduced to 5,000,000. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Concurrently with the execution of the Business Combination Agreement, LGHL, PCAC and certain investors (the
&#147;Initial PIPE Investors&#148;), including Fosun Fashion Holdings (Cayman) Limited, a majority shareholder of FFG, entered into the initial subscription agreements (as restated and amended from time to time (including the amended and restated
subscription agreement entered into on October&nbsp;28, 2022), the &#147;Initial PIPE Subscription Agreements&#148;), pursuant to which the Initial PIPE Investors committed to subscribe for and purchase, in the aggregate, 5,000,000 Ordinary Shares
for US$10 per share for an aggregate purchase price equal to US$50&nbsp;million. Fosun Fashion Holdings (Cayman) Limited initially agreed to subscribe for and purchase 3,800,000 Ordinary Shares for an aggregate purchase price of US$38&nbsp;million.
Subsequently, on October&nbsp;28, 2022, LGHL, PCAC, Fosun Fashion Holdings (Cayman) Limited, FFG and Fosun International Limited entered into an amended and restated subscription agreement, pursuant to which the number of Ordinary Shares to be
purchased by Fosun Fashion Holdings (Cayman) Limited was increased to 13,327,225, upsizing the PIPE subscription investment of Fosun Fashion Holdings (Cayman) Limited to approximately US$133&nbsp;million. The subscription commitment of
US$125&nbsp;million from Fosun Fashion Holdings (Cayman) Limited was effected by way of <FONT STYLE="white-space:nowrap">re-investment</FONT> of all of the repayment proceeds of certain existing shareholder loans that were borrowed by FFG from Fosun
International Limited for working capital purposes. On December&nbsp;5, 2022, LGHL, PCAC and Handsome Corporation (the &#147;Additional PIPE Investor,&#148; and together with the Initial PIPE Investors, the &#147;PIPE Investors&#148;) entered into a
subscription agreement (the &#147;Additional PIPE Subscription Agreement,&#148; and together with the Initial PIPE Subscription Agreements, the &#147;PIPE Subscription Agreements&#148;), pursuant to which the Additional PIPE Investor committed to
subscribe for and purchase, in the aggregate, 800,000 Ordinary Shares for US$10 per share for an aggregate purchase price equal to US$8&nbsp;million. On October&nbsp;16, 2022, FFG and LGHL entered into a private placement subscription agreement with
Meritz (the &#147;Meritz Private Placement Subscription Agreement&#148;), pursuant to which, Meritz subscribed for and purchased 18,569,282 ordinary shares of FFG and the FFG Collateral Share for an aggregate purchase price equal to
US$50&nbsp;million. In addition, around the time of PCAC&#146;s initial public offering, PCAC entered into a forward purchase agreement with Sky Venture Partners L.P. (&#147;Sky Venture&#148;) dated January&nbsp;4, 2021 and a forward purchase
agreement with Aspex Master Fund (&#147;Aspex&#148;) dated January&nbsp;5, 2021, pursuant to which each of Sky Venture and Aspex, respectively, committed to subscribe for and purchase 4,000,000 PCAC Class&nbsp;A ordinary shares, plus 1,000,000 PCAC
Warrants (collectively, the &#147;forward purchase units&#148;), for an aggregate purchase price equal to US$40&nbsp;million immediately prior to the Initial Merger Effective Time. In connection with the forward purchase agreements, the Sponsor
transferred to each of Sky Venture and Aspex 500,000 PCAC Class&nbsp;B ordinary shares for no cash consideration. Sky Venture defaulted on its obligations under its forward purchase agreement to subscribe for and purchase the forward purchase units
at the agreed time and the Sponsor cancelled the 500,000 PCAC Class&nbsp;B ordinary shares held by Sky Venture. Ordinary Shares issued pursuant to the PIPE Subscription Agreements and Ordinary Shares issued in exchange for&nbsp;the shares purchased
pursuant to the Aspex&#146;s forward purchase agreement and the Meritz Private Placement Subscription Agreement have not been registered under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;), in reliance upon the exemption
provided in Section&nbsp;4(a)(2) of the Securities Act. The PIPE Investors, Meritz and Aspex were granted certain registration rights in connection with the PIPE Subscription Agreements, the Meritz Private Placement Subscription Agreement and the
Aspex&#146;s forward purchase agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Business Combination was consummated on December&nbsp;14, 2022. The transaction was unanimously approved by
PCAC&#146;s Board of Directors and was approved at the extraordinary general meeting of PCAC&#146;s shareholders held on December&nbsp;9, 2022 (the &#147;Extraordinary General Meeting&#148;). PCAC&#146;s shareholders also voted to approve all other
proposals presented at the Extraordinary General Meeting. As a result of the Business Combination, PCAC has ceased to exist and the surviving company has become a wholly-owned subsidiary of the Company. On December&nbsp;15, 2022, Ordinary Shares and
Warrants commenced trading on the New York Stock Exchange, or NYSE, under the symbols &#147;LANV&#148; and &#147;LANW,&#148; respectively. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain
amounts that appear in this Report may not sum due to rounding. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unless otherwise indicated or required by context, references in this shell company
report on Form <FONT STYLE="white-space:nowrap">20-F</FONT> (including information incorporated by reference herein, this &#147;Report&#148;) to &#147;we,&#148; &#147;us,&#148; &#147;our,&#148; or &#147;LGHL&#148; are to Lanvin Group Holdings
Limited and/or its consolidated subsidiaries, as the context may require. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx417767_2"></A>CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Report contains or may contain forward-looking statements as defined in Section&nbsp;27A of the Securities Act, and Section&nbsp;21E of the Securities
Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), that involve significant risks and uncertainties. Forward-looking statements include all statements that are not historical statements of fact and statements regarding, but not limited
to, the respective expectations, hopes, beliefs, intention or strategies of LGHL, FFG or PCAC regarding the future. You can identify these statements by forward-looking words such as &#147;may,&#148; &#147;expect,&#148; &#147;predict,&#148;
&#147;potential,&#148; &#147;anticipate,&#148; &#147;contemplate,&#148; &#147;believe,&#148; &#147;estimate,&#148; &#147;intends,&#148; &#147;will,&#148; &#147;would&#148; and &#147;continue&#148; or similar words. The risk factors and cautionary
language referred to or incorporated by reference in this Report provide examples of risks, uncertainties and events that may cause actual results to differ materially from the expectations described in our forward-looking statements, including
among other things, the matters identified in the section titled &#147;<I>Risk Factors</I>&#148; of the Company&#146;s Amendment No.&nbsp;5 of the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> <FONT
STYLE="white-space:nowrap">(333-266095)</FONT> filed with the Securities and Exchange Commission (the &#147;SEC&#148;) on October&nbsp;31, 2022 (the &#147;Form <FONT STYLE="white-space:nowrap">F-4&#148;),</FONT> which are incorporated by reference
into this Report. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this Report.
Although we believe that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. These statements involve known and unknown risks and are based upon a
number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking
statements. We undertake no obligation to publicly update or revise any forward-looking statements contained in this Report, or the documents to which we refer readers in this Report, to reflect any change in our expectations with respect to such
statements or any change in events, conditions or circumstances upon which any statement is based. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx417767_3"></A>PART I
</B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="tx417767_4"></A>ITEM&nbsp;1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>A.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Directors and Senior Management </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The directors and executive officers of the Company upon the consummation of the Business Combination are set forth in the Form
<FONT STYLE="white-space:nowrap">F-4,</FONT> in the section titled &#147;<I>Management of LGHL Following the Business Combination</I>,&#148; which is incorporated herein by reference. The business address for each of the Company&#146;s directors and
executive officers is <FONT STYLE="white-space:nowrap">3701-02,</FONT> Tower S2, Bund Finance Center, 600 Zhongshan Rd East No.2, Shanghai, 200010, China. </P> <P STYLE="font-size:14pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>B.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Adviser </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Freshfields Bruckhaus Deringer will act as counsel to the Company upon and following the consummation of the Business Combination. </P>
<P STYLE="font-size:14pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>C.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Auditors </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Grant Thornton Zhitong Certified Public Accountants LLP acted as the independent auditor for FFG as of December&nbsp;31, 2021 and 2020 and for each of the
years in the two-year period ended December&nbsp;31, 2021 and will continue to act as the independent auditor of the Company upon the consummation of the Business Combination. </P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="tx417767_5"></A>ITEM&nbsp;2. OFFER STATISTICS AND EXPECTED TIMETABLE </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable. </P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="tx417767_6"></A>ITEM&nbsp;3. KEY
INFORMATION </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>A.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>[Reserved] </B></P></TD></TR></TABLE> <P STYLE="font-size:14pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>B.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Capitalization and Indebtedness </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table sets forth the capitalization of the Company on an unaudited pro forma combined basis as of June&nbsp;30, 2022, after giving effect to the
Business Combination, the PIPE Subscription Agreements, the Meritz Private Placement Agreement and the Aspex&#146;s forward purchase agreement. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="83%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>As of June&nbsp;30, 2022 (pro forma)</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>(&#128;&nbsp;in&nbsp;thousands)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Cash and cash equivalents</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">126,842</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total equity</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">378,037</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Debt:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Non-current</FONT> borrowings</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,583</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Current borrowings</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100,443</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total indebtedness</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>110,026</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total capitalization</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>488,063</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>C.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Reasons for the Offer and Use of Proceeds </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>D.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Risk Factors </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The risk factors associated with the Company are described in the Form <FONT STYLE="white-space:nowrap">F-4</FONT> in the section titled &#147;<I>Risk
Factors,</I>&#148; which is incorporated herein by reference. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="tx417767_7"></A>ITEM&nbsp;4. INFORMATION ON THE COMPANY </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>A.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>History and Development of the Company </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LGHL was incorporated as an exempted company limited by shares on October&nbsp;13, 2021. LGHL has been the consolidating entity for purposes of FFG&#146;s
financial statements since the consummation of the Business Combination on December&nbsp;14, 2022. The history and development of LGHL and the material terms of the Business Combination are described in the Form
<FONT STYLE="white-space:nowrap">F-4</FONT> under the sections entitled &#147;<I>Summary of the Proxy Statement/Prospectus</I>,&#148; &#147;<I>The Business Combination Proposal</I>,&#148; &#147;<I>Information related to LGHL</I>&#148; and
&#147;<I>Description of LGHL Securities</I>,&#148; which are incorporated herein by reference. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LGHL&#146;s registered office is c/o Maples Corporate
Services Limited, PO Box 309, Ugland House, Grand Cayman, <FONT STYLE="white-space:nowrap">KY1-1104,</FONT> Cayman Islands, and LGHL&#146;s principal executive office is <FONT STYLE="white-space:nowrap">3701-02,</FONT> Tower S2, Bund Finance Center,
600 Zhongshan Rd East No.2, Shanghai, 200010, China. LGHL&#146;s principal website address is https://www.lanvin-group.com. We do not incorporate the information contained on, or accessible through, LGHL&#146;s websites into this Report, and you
should not consider it a part of this Report. The SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. The SEC&#146;s website is
<I><U>www.sec.gov</U></I>. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>B.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Business Overview </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Following and as a result of the Business Combination, all of LGHL&#146;s business is conducted through FFG and its subsidiaries. A description of the business
is included in the Form <FONT STYLE="white-space:nowrap">F-4</FONT> in the sections entitled &#147;<I>Business of Lanvin Group</I>&#148; and &#147;<I>Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations of
Lanvin Group</I>,&#148; which are incorporated herein by reference. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>C.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Organizational Structure </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Upon the consummation of the Business Combination, PCAC ceased to exist and the surviving company became a wholly-owned subsidiary of LGHL. The following
diagram depicts an organizational structure of LGHL as of the date of this Report. Except as otherwise specified, equity interests depicted in this diagram are held as to 100%. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

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<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g417767g02m02.jpg" ALT="LOGO">
 </P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Includes a total of four other wholly-owned subsidiaries incorporated in the PRC: (i)&nbsp;Shanghai Fulang
Brand Management (Group) Co., Ltd., (ii) Fosun Fashion (Hainan) Industry Development Co., Ltd., (iii) Fosun Fashion (Shanghai) Consulting Management Co., Ltd. and (iv)&nbsp;LANV FASHION PTE. LTD. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Includes a total of six wholly-owned subsidiaries: (i)&nbsp;Sergio Rossi Hong Kong Limited, a company
incorporated in Hong Kong, (ii)&nbsp;Sergio Rossi Japan Limited, a company incorporated in Japan, (iii)&nbsp;Sergio Rossi UK Limited, a company incorporated in United Kingdom, (iv)&nbsp;Sergio Rossi USA Inc., a company incorporated in the U.S., (v)
Sergio Rossi Retail s.r.l., a company incorporated in Italy and (vi)&nbsp;Sergio Rossi Deutschland GmbH, a company incorporated in Germany. Sergio Rossi Shanghai Trading Limited, a company incorporated in the PRC, is a wholly-owned subsidiary of
Sergio Rossi Hong Kong Limited. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Includes a total of 13 wholly-owned subsidiaries: (i)&nbsp;Wolford Deutschland GmbH, a company incorporated in
Germany, (ii)&nbsp;Wolford (Schweiz) AG, a company incorporated in Switzerland, (iii)&nbsp;Wolford London Ltd. (UK), a company incorporated in United Kingdom, (iv)&nbsp;Wolford Paris S.A.R.L., a company incorporated in France, (v)&nbsp;Wolford
Italia S.r.l., a company incorporated in Italy, (vi)&nbsp;Wolford Espa&ntilde;a S.L., a company incorporated in Spain, (vii)&nbsp;Wolford Scandinavia ApS, a company incorporated in Denmark, (viii)&nbsp;Wolford America, Inc., a company incorporated
in the U.S., (ix) Wolford Nederland B.V., a company incorporated in Netherlands, (x)&nbsp;Wolford Canada Inc., a company incorporated in Canada, (xi)&nbsp;Wolford Asia Limited, a company incorporated in Hong Kong, (xii)&nbsp;Wolford Belgium N.V., a
company incorporated in Belgium, and (xiii)&nbsp;Wolford (Shanghai) Trading Co., Ltd., a company incorporated in the PRC. Wolford Berangere, a company incorporated in France, is a wholly-owned subsidiary of Wolford Paris S.A.R.L.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Includes a total of eight wholly-owned subsidiaries incorporated in the U.S.: (i) L1 Bal Harbour LLC,
(ii)&nbsp;L2 Crystals LLC, (iii)&nbsp;L3 Madison LLC, (iv)&nbsp;L4 Rodeo Drive LLC, (v)&nbsp;L5 US ECOM LLC, (vi)&nbsp;L6 MADISON, LLC, (vii)&nbsp;L7 Chicago LLC, and (viii)&nbsp;L8 South Coast Plaza LLC. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Includes a total of two wholly-owned subsidiaries incorporated in Italy: (i)&nbsp;L1 Outlet Srl and
(ii)&nbsp;L1 Services Srl. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(6)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Includes a total of two wholly-owned subsidiaries: (i)&nbsp;Lans Atelier (SHANGHAI) Trading Co., Ltd., a
company incorporated in the PRC and (ii)&nbsp;LANVIN MACAU LIMITED, a company incorporated in Macao. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(7)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">One ordinary share of LANVIN ASIA PACIFIC LIMITED is held by LANVIN JAPAN K.K. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>D.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Property, Plants and Equipment </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LGHL&#146;s property, plants and equipment are held through FFG. Information regarding FFG&#146;s property, plants and equipment is described in the Form <FONT
STYLE="white-space:nowrap">F-4</FONT> under the section entitled &#147;<I>Business of Lanvin Group&#151;Property, Plant and Equipment</I>,&#148; which is incorporated herein by reference. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="tx417767_8"></A>ITEM&nbsp;4A. UNRESOLVED STAFF COMMENTS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">None. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="tx417767_9"></A>ITEM&nbsp;5. OPERATING AND
FINANCIAL REVIEW AND PROSPECTS </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The discussion and analysis of the financial condition and results of operation of FFG, is included in the Form <FONT
STYLE="white-space:nowrap">F-4</FONT> in the section titled &#147;<I>Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations of Lanvin Group</I>,&#148; which is incorporated herein by reference. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="tx417767_10"></A>ITEM&nbsp;6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>A.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Directors and Senior Management </B></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The directors and executive officers upon the consummation of the Business Combination are set forth in the Form <FONT STYLE="white-space:nowrap">F-4,</FONT>
in the section titled &#147;<I>Management of LGHL Following the Business Combination</I>,&#148; which is incorporated herein by reference. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>B.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Compensation </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information pertaining to the compensation of the directors and executive officers of LGHL is set forth in the Form
<FONT STYLE="white-space:nowrap">F-4,</FONT> in the sections titled &#147;<I>Management of LGHL Following the Business Combination&#151;Compensation of Directors and Executive Officers</I>,&#148; &#147;<I>Management of LGHL Following the Business
Combination&#151;Employment Agreements and Indemnification Agreements</I>&#148; and &#147;<I>Management of LGHL Following the Business Combination&#151;Share Incentive Plans</I>,&#148; which are incorporated herein by reference. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>

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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>C.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Board Practices </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information pertaining to the Company&#146;s board practices is set forth in the Form <FONT STYLE="white-space:nowrap">F-4,</FONT> in the section titled
&#147;<I>Management of LGHL Following the Business Combination</I>,&#148; which is incorporated herein by reference. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>D.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Employees </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information pertaining to LGHL&#146;s employees is set forth in the Form <FONT STYLE="white-space:nowrap">F-4,</FONT> in the section titled <I>&#147;Business
of Lanvin Group&#151;Employees</I>,&#148;<I></I>&nbsp;which is incorporated herein by reference. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>E.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Share Ownership </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ownership of the Company&#146;s shares by its directors and executive officers upon the consummation of the Business Combination is set forth in Item 7.A of
this Report. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="tx417767_11"></A>ITEM&nbsp;7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>A.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Major Shareholders </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table sets forth information regarding the beneficial ownership of Ordinary Shares as of December&nbsp;14, 2022 by: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">each person known by us to be the beneficial owner of more than 5% of Ordinary Shares; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">each of our directors and executive officers; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">all our directors and executive officers as a group. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Beneficial ownership is determined according to the rules of the SEC, which generally provide that a person has beneficial ownership of a security if that
person possesses sole or shared voting or investment power over that security. A person is also deemed to be a beneficial owner of securities that the person has a right to acquire within 60 days including, without limitation, through the exercise
of any option, warrant or other right or the conversion of any other security. Such securities, however, are deemed to be outstanding only for the purpose of computing the percentage beneficial ownership of that person but are not deemed to be
outstanding for the purpose of computing the percentage beneficial ownership of any other person. Under these rules, more than one person may be deemed to be a beneficial owner of the same securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The calculations of the percentage of beneficial ownership are based on 130,971,070 Ordinary Shares issued and outstanding, as of December 14, 2022. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unless otherwise indicated, we believe that all persons named in the table below have sole voting and investment power with respect to all Ordinary Shares
beneficially owned by them. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>

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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Name of Beneficial Owner </U></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="68%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Ordinary&nbsp;Shares</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>%&nbsp;of&nbsp;Total<BR>Ordinary<BR>Shares /</B><br><B>Voting&nbsp;Power</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Principal Shareholders</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fosun International Limited<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">85,054,571</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">64.94</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fosun Fashion Holdings (Cayman)
Limited<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">78,982,980</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">60.31</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Brilliant Fashion Holdings
Limited<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">8,651,247</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">6.61</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Natixis<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">7,919,466</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">6.05</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Directors and Executive
Officers<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Yun Cheng<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">8,651,247</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">6.61</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Tong &#147;Max&#148; Chen</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Zhen Huang</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Shunjiang Qian</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Mitchell Alan Garber<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">421,912</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&nbsp;&nbsp; </TD>
<TD NOWRAP VALIGN="bottom">*&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Jennifer Fleiss</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Jurjan Wouda Kuipers</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Kat Yu David Chan<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">*&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">*&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Xiaojing Grace Zhao<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">*&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">*&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Shang Hsiu Koo<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">*&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">*&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gong Cheng<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">*&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">*&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">All directors and executive officers as a group (11&nbsp;individuals)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">9,073,159</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">6.93</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Less than 1% of the total number of outstanding Ordinary Shares </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Represents (i) 78,982,980 Ordinary Shares held by Fosun Fashion Holdings (Cayman) Limited, including Ordinary
Shares issued to Fosun Fashion Holdings (Cayman) Limited pursuant to the Initial PIPE Subscription Agreements, and (ii) 6,071,591 Ordinary Shares held by Yujing Fashion (BVI) Limited. Fosun Fashion Holdings (Cayman) Limited is wholly-owned by Fosun
International Limited (HKSE Stock Code: 0656). Yujing Fashion (BVI) Limited is wholly-owned by Yu Jing Industrial Limited, which is in turn wholly owned by Shanghai Yuyuan Tourist Mart (Group) Co., Ltd. Shanghai Yuyuan Tourist Mart (Group) Co., Ltd
is majority-owned by Fosun International Limited (HKSE Stock Code: 00656) indirectly through a number of intermediate subsidiaries. The business address of each of Fosun Fashion Holdings (Cayman) Limited and Yujing Fashion (BVI) Limited is <FONT
STYLE="white-space:nowrap">3701-02,</FONT> Tower S2, Bund Finance Center, 600 Zhongshan Rd East No.2, Shanghai, 200010, China. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Represents 8,651,247 Ordinary Shares held by Brilliant Fashion Holdings Limited, which is the settlor of our
employee incentive award plan trust with Futu Trustee Limited as the trustee. See the section titled &#147;<I>Management of LGHL Following the Business Combination&#151;Share Incentive Plans</I>&#148; in the Form
<FONT STYLE="white-space:nowrap">F-4,</FONT> which is incorporated herein by reference. As the sole director of Brilliant Fashion Holdings Limited, Yun Cheng is the administrator of our employee incentive award plan. In addition, Yun Cheng is the
sole shareholder of Creative Fashion Holdings Limited, which holds the sole voting share (Class A ordinary share) of Brilliant Fashion Holdings Limited. Therefore, Yun Cheng has voting power and dispositive power over Ordinary Shares held by
Brilliant Fashion Holdings Limited and may be deemed the beneficial owner of such Ordinary Shares, including 1,619,752 of which, Yun Cheng has dispositive power over due to her right to receive within 60 days after December&nbsp;14, 2022 the
economic beneficiary interest corresponding to such number of Ordinary Shares pursuant to our employee incentive award plan. The business address of Brilliant Fashion Holdings Limited is <FONT STYLE="white-space:nowrap">3701-02,</FONT> Tower S2,
Bund Finance Center, 600 Zhongshan Rd East No.2, Shanghai, 200010, China. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">In respect of the 7,919,466 Ordinary Shares held by Natixis, Fosun International Limited entered into a
financing total return swap (&#147;TRS&#148;) with Natixis, as evidenced by a Confirmation dated as of September&nbsp;16, 2019 and governed by an ISDA Master Agreement dated as of September&nbsp;12, 2017 between Natixis and Fosun International
Limited, as such confirmation or agreement (as the case may be) may be amended and supplemented from time to time, pursuant to which, among other things, Natixis passed through to Fosun International Limited the full economic exposure to LGHL after
the Merger Effective Time (as defined within the TRS). </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The business address of each of the directors and executive officers of the Company is <FONT
STYLE="white-space:nowrap">3701-02,</FONT> Tower S2, Bund Finance Center, 600 Zhongshan Rd East No.2, Shanghai, 200010, China. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Represents 421,912 Ordinary Shares held by Stephenson Management Inc., a holding company wholly-owned by
Mitchell Alan Garber and his spouse Anne-Marie Boucher. The business address of Stephenson Management Inc. is 2200 Stanley Street, Montreal, Quebec, Canada. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(6)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Represents Ordinary Shares over which such person has dispositive power due to such person&#146;s right to
receive within 60 days after December&nbsp;14, 2022 the economic beneficiary interest corresponding to such number of Ordinary Shares pursuant to our employee incentive award plan. </P></TD></TR></TABLE>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>B.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Related Party Transactions </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information pertaining to LGHL&#146;s related party transactions is set forth in the Form <FONT STYLE="white-space:nowrap">F-4,</FONT> in the section titled
&#147;<I>Certain Relationships and Related Person Transactions&#151;Lanvin Group and LGHL&#146;s Relationships and Related Party Transactions</I>,&#148; which is incorporated herein by reference. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>C.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Interests of Experts and Counsel </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">None / Not applicable. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="tx417767_12"></A>ITEM&nbsp;8.&nbsp;&nbsp;FINANCIAL INFORMATION </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>A.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Consolidated Statements and Other Financial Information </B></P></TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Financial Statements </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Consolidated financial
statements have been filed as part of this Report. See Item 18 &#147;Financial Statements.&#148; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Legal Proceedings </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Legal or arbitration proceedings are described in the Form <FONT STYLE="white-space:nowrap">F-4</FONT> under the heading &#147;<I>Information Related to
LGHL&#151;Legal Proceedings,</I>&#148; which is incorporated herein by reference. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Dividend Policy </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LGHL&#146;s policy on dividend distributions is described in the Form <FONT STYLE="white-space:nowrap">F-4</FONT> under the heading &#147;<I>Description of
LGHL Securities&#151;Ordinary Shares&#151;Dividends,</I>&#148; which is incorporated herein by reference. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B><A NAME="tx417767_13"></A>ITEM&nbsp;9.&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>THE OFFER AND LISTING </B></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>A.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Offer and Listing Details </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ordinary Shares and Warrants are listed on NYSE under the symbols &#147;LANV&#148; and &#147;LANW,&#148; respectively. Holders of Ordinary Shares and Warrants
should obtain current market quotations for their securities. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>B.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Plan of Distribution </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>C.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Markets </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ordinary Shares and Warrants are listed on NYSE under the symbols &#147;LANV&#148; and &#147;LANW,&#148; respectively. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>D.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Selling Shareholders </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>E.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Dilution </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>F.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Expenses of the Issue </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="tx417767_14"></A>ITEM&nbsp;10.
ADDITIONAL INFORMATION </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>A.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Share Capital </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company&#146;s authorized share capital is US$50,000 divided into (a) 49,984,999,999 Ordinary Shares, (b) 15,000,000
<FONT STYLE="white-space:nowrap">non-voting</FONT> ordinary shares with a par value of US$0.000001 each <FONT STYLE="white-space:nowrap">(&#147;Non-Voting</FONT> Shares&#148;) and (c)&nbsp;one Convertible Preference Share. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of December 14, 2022, subsequent to the closing of the Business Combination, 130,971,070 Ordinary Shares and one Convertible Preference Share were
outstanding and issued. The Convertible Preference Share is convertible into an aggregate number of up to 15,000,000 <FONT STYLE="white-space:nowrap">Non-Voting</FONT> Shares and/or Ordinary Shares (subject to any adjustment as a result of any share
subdivision or consolidation of the shares of the Company) at the election of Meritz upon the occurrence of certain events. There are also 31,980,000 Warrants outstanding, each whole warrant exercisable at US$11.50 per one Ordinary Share, of which
20,700,000 are public warrants (&#147;Public Warrants&#148;) listed on NYSE and 11,280,000 are private placement warrants (&#147;Private Warrants&#148;) held by the Sponsor and Aspex. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>B.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Memorandum and Articles of Association </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The articles of association of the Company effective as of December&nbsp;14, 2022 are filed as part of this Report. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The description of the articles of association of LGHL contained in the Form <FONT STYLE="white-space:nowrap">F-4</FONT> in the section titled
&#147;<I>Description of LGHL Securities</I>&#148; is incorporated herein by reference. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>C.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Material Contracts </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Material Contracts Relating to LGHL&#146;s Operations </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information pertaining to LGHL&#146;s material contracts is set forth in the Form <FONT STYLE="white-space:nowrap">F-4,</FONT> in the sections titled
&#147;<I>Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations of Lanvin Group&#151;Liquidity and Capital Resources&#151;Borrowing</I>,&#148; &#147;<I>Business of Lanvin Group</I>,&#148; &#147;<I>Risk
Factors</I><I>&#151;Risks Relating to LGHL&#146;s Business and Operations Following the Business Combination</I>,&#148; and &#147;<I>Certain Relationships and Related Person Transactions</I>,&#148; each of which is incorporated herein by reference.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Material Contracts Relating to the Business Combination </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Business Combination Agreement </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The description of the
Business Combination Agreement in the Form <FONT STYLE="white-space:nowrap">F-4</FONT> in the section titled <I>&#147;The Business Combination Proposal</I>&#148;<I></I>&nbsp;is incorporated herein by reference. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Related Agreements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The description of the material
provisions of certain additional agreements entered into pursuant to the Business Combination Agreement in the Form <FONT STYLE="white-space:nowrap">F-4</FONT> in the section titled &#147;<I>Summary of the Material Terms of the Business
Combination&#151;Ancillary Agreements</I>&#148;<I></I>&nbsp;is incorporated herein by reference. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>

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<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>D.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Exchange Controls </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">There are no governmental laws, decrees, regulations or other legislation in the Cayman Islands that may affect the import or export of capital, including the
availability of cash and cash equivalents for use by LGHL, or that may affect the remittance of dividends, interest, or other payments by LGHL to <FONT STYLE="white-space:nowrap">non-resident</FONT> holders of its Ordinary Shares. There is no
limitation imposed by the laws of the Cayman Islands or in LGHL&#146;s articles of association on the right of <FONT STYLE="white-space:nowrap">non-residents</FONT> to hold or vote shares. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>E.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Taxation </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information pertaining to tax considerations is set forth in the Form <FONT STYLE="white-space:nowrap">F-4,</FONT> in the sections titled &#147;<I>Certain Tax
Considerations</I>&#148; which is incorporated herein by reference. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>F.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Dividends and Paying Agents </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information regarding LGHL&#146;s policy on dividends is described in the Form <FONT STYLE="white-space:nowrap">F-4</FONT> under the heading
&#147;<I>Description of LGHL Securities&#151;Ordinary Shares&#151;Dividends</I>,&#148; which is incorporated herein by reference. LGHL has not identified a paying agent. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>G.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Statement by Experts </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The consolidated financial statements of FFG incorporated by reference in this Report have been so incorporated by reference in reliance upon such report of
Grant Thornton Zhitong Certified Public Accountants LLP, independent registered public accountants, upon the authority of the said firm as expert in accounting and auditing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The financial statements of PCAC incorporated by reference in this Report have been so incorporated by reference in reliance upon such report of
WithumSmith+Brown, PC, independent registered public accountants, upon the authority of the said firm as expert in accounting and auditing. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>H.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Documents on Display </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We are subject to certain of the informational filing requirements of the Exchange Act. Since we are a &#147;foreign private issuer,&#148; we are exempt from
the rules and regulations under the Exchange Act prescribing the furnishing and content of proxy statements, and our officers, directors and principal shareholders are exempt from the reporting and &#147;short-swing&#148; profit recovery provisions
contained in Section&nbsp;16 of the Exchange Act, with respect to their purchase and sale of our shares. In addition, we are not required to file reports and financial statements with the SEC as frequently or as promptly as U.S. companies whose
securities are registered under the Exchange Act. However, we are required to file with the SEC an Annual Report on Form <FONT STYLE="white-space:nowrap">20-F</FONT> containing financial statements audited by an independent accounting firm. We may,
but are not required, to furnish to the SEC, on Form <FONT STYLE="white-space:nowrap">6-K,</FONT> unaudited financial information after each of our first three fiscal quarters. The SEC also maintains a website at
<I><U>http://www.sec.gov</U></I><I></I>&nbsp;that contains reports and other information that we file with or furnish electronically with the SEC. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>I.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Subsidiary Information </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>

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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><B><A NAME="tx417767_15"></A>ITEM&nbsp;11.&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information set forth in the section titled &#147;<I>Management&#146;s Discussion and Analysis of Financial Condition and Results of Operation of Lanvin
Group&#151;Qualitative and Quantitative Information on Financial Risks</I>&#148; in the Form <FONT STYLE="white-space:nowrap">F-4</FONT> is incorporated herein by reference. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><B><A NAME="tx417767_16"></A>ITEM&nbsp;12.&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Warrants </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Upon the completion of the Business
Combination, there were 20,700,000 Public Warrants outstanding. The Public Warrants, which entitle the holder to purchase one Ordinary Share for each one whole Public Warrant at an exercise price of US$11.50 per share, will become exercisable on
January&nbsp;13, 2023, which is 30 days after the completion of the Business Combination. The Public Warrants will expire on December 14, 2027 (i.e., five years after the completion of the Business Combination) or earlier upon redemption or
liquidation in accordance with their terms. Upon the completion of the Business Combination, there were also 10,280,000 Private Warrants held by the Sponsor and 1,000,000 Private Warrants held by Aspex. The Private Warrants are identical to the
Public Warrants in all material respects, except that with respect to the Private Warrants held by the Sponsor, so long as they are held by the Sponsor or its permitted transferees, such Private Warrants (i)&nbsp;are not redeemable, (ii)&nbsp;may
not, subject to certain limited exceptions, be transferred, assigned or sold by the holder until January&nbsp;13, 2023, which is 30 days after the completion of the Business Combination, (iii)&nbsp;may be exercised by the holders on a cashless
basis, and (iv)&nbsp;are entitled to registration rights. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx417767_17"></A>PART II </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx417767_18"></A>PART III </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><B><A NAME="tx417767_19"></A>ITEM&nbsp;17.&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>FINANCIAL STATEMENTS </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><B><A NAME="tx417767_20"></A>ITEM&nbsp;18.&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>FINANCIAL STATEMENTS </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The audited consolidated financial statements of FFG and its subsidiaries as of December 31, 2021 and 2020 and for the years ended December 31, 2021 and 2020
contained in the Form <FONT STYLE="white-space:nowrap">F-4</FONT> between pages <FONT STYLE="white-space:nowrap">F-28</FONT> and <FONT STYLE="white-space:nowrap">F-88</FONT> are incorporated herein by reference. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The unaudited interim condensed consolidated financial statements of FFG and its subsidiaries as of June&nbsp;30, 2022 and for the six months ended June 30,
2022 and 2021 contained in the Form <FONT STYLE="white-space:nowrap">F-4</FONT> between pages <FONT STYLE="white-space:nowrap">F-2</FONT> and <FONT STYLE="white-space:nowrap">F-27</FONT> are incorporated herein by reference. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The unaudited condensed financial statements of PCAC as of June 30, 2022 and for the six months ended June 30, 2022 and the audited condensed financial
statements of PCAC as of December 31, 2021 and 2020 and for the year ended December 31, 2021 and the period from July 16, 2022 (inception) through December 31, 2022 contained in the Form <FONT STYLE="white-space:nowrap">F-4</FONT> between pages <FONT
STYLE="white-space:nowrap">F-89</FONT> and <FONT STYLE="white-space:nowrap">F-135</FONT> are incorporated herein by reference. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The unaudited pro forma
condensed combined financial information of FFG and PCAC are attached as Exhibit 15.1 to this Report. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="tx417767_21"></A>ITEM&nbsp;19. EXHIBITS </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx417767_22"></A>EXHIBIT INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD WIDTH="91%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" ALIGN="center"><B>EXHIBIT<BR>NUMBER</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>DESCRIPTION</B></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>1.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1922097/000119312522251711/d373479dex31.htm">Amended and Restated Memorandum and Articles of Association of Lanvin Group Holdings Limited (incorporated by reference to Exhibit 3.1 to the
 Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>2.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001922097/000119312522241447/d373479dex41.htm">Specimen ordinary share certificate of LGHL (incorporated by reference to Exhibit 4.1 to the Registration Statement on Form <FONT
STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>2.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001922097/000119312522241447/d373479dex42.htm">Specimen warrant certificate of LGHL (incorporated by reference to Exhibit 4.2 to the Registration Statement on Form <FONT
STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>2.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1818787/000095010321000987/dp144800_ex0401.htm">Warrant Agreement, dated as of January&nbsp;
21, 2021, between Primavera Capital Acquisition Corporation and Continental Stock Transfer&nbsp;&amp; Trust Company (incorporated by reference to Exhibit 4.3 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT
STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>2.4</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001922097/000119312522191351/d373479dex106.htm">Assignment, Assumption and Amendment Agreement, dated as of March&nbsp;
23, 2022, by and among Primavera Capital Acquisition Corporation, Lanvin Group Holdings Limited, and Continental Stock Transfer&nbsp;&amp; Trust Company (incorporated by reference to Exhibit 10.6 to the Registration Statement on Form <FONT
STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>3.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001922097/000119312522191351/d373479dex103.htm">FFG Shareholder Support Deed, dated as of March&nbsp;
23, 2022, by and among Primavera Capital Acquisition Corporation, Fosun Fashion Group (Cayman) Limited, Lanvin Group Holdings Limited, and certain other parties thereto (incorporated by reference to Exhibit 10.3 to the Registration Statement on Form <FONT
STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>3.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001922097/000119312522191351/d373479dex102.htm">Sponsor Support Deed, dated as of March&nbsp;
23, 2022, by and among Primavera Capital Acquisition Corporation, Fosun Fashion Group (Cayman) Limited, Primavera Capital Acquisition LLC, Lanvin Group Holdings Limited, and certain other parties thereto (incorporated by reference to Exhibit 10.2 to the
 Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>3.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1922097/000119312522273912/d373479dex1025.htm">Amendment No.1 to Sponsor Support Deed dated October&nbsp;
28, 2022, by and among Primavera Capital Acquisition Corporation, Fosun Fashion Group (Cayman) Limited, Primavera Capital Acquisition LLC, Lanvin Group Holdings Limited, and certain other parties thereto (incorporated by reference to Exhibit 10.25 to the
Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>3.4</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1922097/000119312522273912/d373479dex1026.htm">Letter Agreement to the Shareholder Support Deed dated October&nbsp;
28, 2022, between Primavera Capital Acquisition Corporation, Lanvin Group Holdings Limited, Fosun Fashion Group (Cayman) Limited and Fosun Fashion Holdings (Cayman) Limited (incorporated by reference to Exhibit 10.26 to the Registration Statement on Form
 <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1922097/000119312522191351/d373479dex21.htm">Business Combination Agreement, dated as of March&nbsp;
23, 2022, by and among Primavera Capital Acquisition Corporation, Fosun Fashion Group (Cayman) Limited, Lanvin Group Holdings Limited, Lanvin Group Heritage I Limited and Lanvin Group Heritage II Limited (incorporated by reference to Exhibit 2.1 to the
 Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022). </A></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD WIDTH="91%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" ALIGN="center"><B>EXHIBIT<BR>NUMBER</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>DESCRIPTION</B></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1818787/000095010321000987/dp144800_ex1003.htm">Registration Rights Agreement, dated January&nbsp;
21, 2021, between Primavera Capital Acquisition Corporation and certain security holders (incorporated by reference to Exhibit 10.10 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT
STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1922097/000119312522273912/d373479df4a.htm#rom373479_38a">Amendment No.1 to the Business Combination Agreement, dated as of October&nbsp;
17, 2022, by and among Primavera Capital Acquisition Corporation, Fosun Fashion Group (Cayman) Limited, Lanvin Group Holdings Limited, Lanvin Group Heritage I Limited and Lanvin Group Heritage II Limited (incorporated by reference to Exhibit 2.2 to the
 Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.4</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1922097/000119312522273912/d373479df4a.htm#rom373479_38b">Amendment No.&nbsp;2 to the Business Combination Agreement, dated as of October&nbsp;
20, 2022, by and among Primavera Capital Acquisition Corporation, Fosun Fashion Group (Cayman) Limited, Lanvin Group Holdings Limited, Lanvin Group Heritage I Limited and Lanvin Group Heritage II Limited (incorporated by reference to Exhibit 2.3 to the
 Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.5</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1922097/000119312522273912/d373479df4a.htm#ii373479_1a">Amendment No.&nbsp;3 to the Business Combination Agreement, dated as of October&nbsp;
28, 2022, by and among Primavera Capital Acquisition Corporation, Fosun Fashion Group (Cayman) Limited, Lanvin Group Holdings Limited, Lanvin Group Heritage I Limited and Lanvin Group Heritage II Limited (incorporated by reference to Exhibit 2.4 to the
 Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.6</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1922097/000119312522298821/d313342dex25.htm">Amendment No.&nbsp;
4 to the Business Combination Agreement, dated as of December 2, 2022, by and among Primavera Capital Acquisition Corporation, Fosun Fashion Group (Cayman) Limited, Lanvin Group Holdings Limited, Lanvin Group Heritage I Limited and Lanvin Group Heritage
 II Limited (incorporated by reference to Exhibit 2.5 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on
July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.7*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d417767dex47.htm">Brilliant Fashion Incentive Award Plan </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.8</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001922097/000119312522191351/d373479dex107.htm">Form of Indemnification Agreement between LGHL and each executive officer of LGHL (incorporated by reference to Exhibit 10.7 to the Registration
 Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.9</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001922097/000119312522191351/d373479dex101.htm">Form of PIPE Subscription Agreement (incorporated by reference to Exhibit 10.1 to the Registration Statement on Form <FONT
STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.10</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001922097/000119312522191351/d373479dex104.htm"><FONT STYLE="white-space:nowrap">Lock-Up</FONT> Agreement, dated as of March&nbsp;
23, 2022, by and among Primavera Capital Acquisition Corporation, Primavera Capital Acquisition LLC, Lanvin Group Holdings Limited, and certain other parties thereto (incorporated by reference to Exhibit 10.4 to the Registration Statement on Form <FONT
STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.11</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001922097/000119312522191351/d373479dex105.htm">Investor Rights Agreement, dated as of March&nbsp;
23, 2022, by and among Primavera Capital Acquisition Corporation, Primavera Capital Acquisition LLC, Fosun Fashion Group (Cayman) Limited, Lanvin Group Holdings Limited, and certain other parties thereto (incorporated by reference to Exhibit 10.5 to the
 Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.12</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1818787/000095010321000987/dp144800_ex1001.htm">Letter Agreement, dated January&nbsp;
21, 2021, among Primavera Capital Acquisition Corporation and its officers and directors and Primavera Capital Acquisition LLC (incorporated by reference to Exhibit 10.8 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg.
 <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD WIDTH="91%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" ALIGN="center"><B>EXHIBIT<BR>NUMBER</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>DESCRIPTION</B></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.13</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001922097/000119312522224369/d373479dex1019.htm">Forward Purchase Agreement dated as of January&nbsp;
5, 2021, between Primavera Capital Acquisition Corporation, Primavera Capital Acquisition LLC and Aspex Master Fund (incorporated by reference to Exhibit 10.19 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT
STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.14</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001922097/000119312522224369/d373479dex1020.htm">Forward Purchase Agreement dated as of January&nbsp;
4, 2021, between Primavera Acquisition Corporation, Primavera Capital Acquisition LLC and Sky Venture Partners L.P. (incorporated by reference to Exhibit 10.20 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT
STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.15</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1818787/000095010321000987/dp144800_ex1002.htm">Investment Management Trust Agreement, dated January&nbsp;
21, 2021, between Primavera Capital Acquisition Corporation and Continental Stock Transfer&nbsp;
&amp; Trust Company, as trustee (incorporated by reference to Exhibit 10.9 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;
333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.16</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1818787/000095010321000987/dp144800_ex1004.htm">Administrative Services Agreement, dated January&nbsp;
21, 2021, between Primavera Capital Acquisition Corporation and Primavera Capital Acquisition LLC (incorporated by reference to Exhibit 10.11 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT
STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.17</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1818787/000095010321000987/dp144800_ex1005.htm">Private Placement Warrants Purchase Agreement, dated January&nbsp;
21, 2021, between Primavera Capital Acquisition Corporation and Primavera Capital Acquisition LLC (incorporated by reference to Exhibit 10.12 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT
STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.18</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1818787/000095010321000987/dp144800_ex1006.htm">Indemnity Agreement, dated January&nbsp;
21, 2021, between Primavera Capital Acquisition Corporation and Tong Chen (incorporated by reference to Exhibit 10.13 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;
333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.19</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001818787/000095010321000987/dp144800_ex1007.htm">Indemnity Agreement, dated January&nbsp;
21, 2021, between Primavera Capital Acquisition Corporation and Chenling Zhang (incorporated by reference to Exhibit 10.14 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),
</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.20</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001818787/000095010321000987/dp144800_ex1008.htm">Indemnity Agreement, dated January&nbsp;
21, 2021, between Primavera Capital Acquisition Corporation and Muktesh Pant (incorporated by reference to Exhibit 10.15 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;
333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.21</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001818787/000095010321000987/dp144800_ex1009.htm">Indemnity Agreement, dated January&nbsp;
21, 2021, between Primavera Capital Acquisition Corporation and Teresa Teague (incorporated by reference to Exhibit 10.16 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),
</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.22</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001818787/000095010321000987/dp144800_ex1010.htm">Indemnity Agreement, dated January&nbsp;21, 2021, between Primavera Capital Acquisition Corporation and Sonia Cheng <FONT
STYLE="white-space:nowrap">Chi-Man</FONT> (incorporated by reference to Exhibit 10.17 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;
333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.23</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/0001818787/000119312522020864/d301071dex101.htm">Promissory Note, dated January&nbsp;
28, 2022, issued by Primavera Capital Acquisition Corporation to Primavera Capital Acquisition LLC (incorporated by reference to Exhibit 10.18 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT
STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD WIDTH="91%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" ALIGN="center"><B>EXHIBIT<BR>NUMBER</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>DESCRIPTION</B></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.24</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1922097/000119312522265937/d373479dex1021.htm">Share Subscription Agreement in relation to the shares of Fosun Fashion Group (Cayman) Limited dated as of October&nbsp;
16, 2022 between Fosun Fashion Group (Cayman) Limited, Lanvin Group Holdings Limited and Meritz Securities Co., Ltd. (incorporated by reference to Exhibit 10.21 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT
STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.25</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1922097/000119312522273912/d373479dex1022.htm">Relationship Agreement dated October&nbsp;
19, 2022 between Lanvin Group Holdings Limited, Meritz Securities Co., Ltd. (incorporated by reference to Exhibit 10.22 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;
333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.26</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1922097/000119312522265937/d373479dex1023.htm">Letter Agreement, dated September&nbsp;
29, 2022, between Primavera Capital Acquisition Corporation and Primavera Capital Acquisition LLC (incorporated by reference to Exhibit 10.23 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT
STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.27</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1922097/000119312522273912/d373479dex1024.htm">Amended and Restated Subscription Agreement, dated October&nbsp;
28, 2022, between Lanvin Group Holdings Limited, Primavera Capital Acquisition Corporation, Fosun Fashion Holdings (Cayman) Limited, Fosun Fashion Group (Cayman) Limited and Fosun International Limited (incorporated by reference to Exhibit 10.24 to the
 Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.28</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1922097/000119312522273912/d373479dex1027.htm">Form of <FONT STYLE="white-space:nowrap">Non-redemption</FONT> agreement to be entered into between Primavera Capital Acquisition Corporation,
 Lanvin Group Holdings Limited, Fosun Fashion Group (Cayman) Limited and certain holders of Class&nbsp;A Ordinary Shares of Primavera Capital Acquisition Corporation (incorporated by reference to Exhibit 10.27 to the Registration Statement on Form <FONT
STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.29</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1922097/000119312522298821/d313342dex1028.htm">Share Surrender Letter Agreement, dated as of December&nbsp;
2, 2022, by and among Primavera Capital Acquisition Corporation, Lanvin Group Holdings Limited, Primavera Capital Acquisition LLC and Fosun Fashion Holdings (Cayman) Limited (incorporated by reference to Exhibit 10.28 to the Registration Statement on Form
<FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.30</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1922097/000119312522298821/d313342dex1029.htm">Waiver Letter Agreement, dated as of December&nbsp;
2, 2022, by and among Primavera Capital Acquisition Corporation and Primavera Capital Acquisition LLC (incorporated by reference to Exhibit 10.29 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (Reg. <FONT
STYLE="white-space:nowrap">No.&nbsp;333-266095),</FONT> as amended, initially filed with the SEC on July&nbsp;11, 2022).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>8.1*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d417767dex81.htm">List of subsidiaries of LGHL. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>15.1*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d417767dex151.htm">Unaudited Pro Forma Condensed Combined Financial Information of FFG and PCAC. <B><I></I></B></A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>15.2*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d417767dex152.htm">Consent of Grant Thornton Zhitong Certified Public Accountants LLP.<B><I></I></B> </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>15.3*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d417767dex153.htm">Consent of WithumSmith+Brown, PC. </A></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">*&#8195;&#8201;&#8201;Filed herewith.</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>

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<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx417767_23"></A>SIGNATURE </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The registrant hereby certifies that it meets all of the requirements for filing on Form <FONT STYLE="white-space:nowrap">20-F</FONT> and that it has duly
caused and authorized the undersigned to sign this Report on its behalf. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%"></TD>

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<TD WIDTH="3%"></TD>

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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"><B>LANVIN GROUP HOLDINGS LIMITED</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">December 20, 2022</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Yun Cheng</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: Yun Cheng</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title: Chief Executive Officer</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>

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</BODY></HTML>
[{"type": "20-F", "sequence": "1", "filename": "d417767d20f.htm", "description": "FORM 20-F", "secsgml_size_bytes": 170393}]
{"company-data": {"conformed-name": "Lanvin Group Holdings Ltd", "cik": "0001922097", "assigned-sic": "2300", "irs-number": "000000000", "state-of-incorporation": "E9", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "20-F", "act": "34", "file-number": "001-41569", "film-number": "221474735"}, "business-address": {"street1": "3701-02, TOWER S2, BUND FINANCE CENTER", "street2": "600 ZHONGSHAN RD EAST NO.2", "city": "SHANGHAI", "state": "F4", "zip": "200010", "phone": "(86)13636579351"}, "mail-address": {"street1": "3701-02, TOWER S2, BUND FINANCE CENTER", "street2": "600 ZHONGSHAN RD EAST NO.2", "city": "SHANGHAI", "state": "F4", "zip": "200010"}}
Form 20-F
Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
20-F
(Mark One)
☐
REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
☐
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended
OR
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
☒
SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of event requiring this shell company report: December 14, 2022
Commission File Number:
001-41569
LANVIN GROUP HOLDINGS LIMITED
(Exact name of Registrant as specified in its charter)
Not applicable
Cayman Islands
(Translation of Registrant's name into English)
(Jurisdiction of incorporation or organization)
Lanvin Group Holdings Limited
3701-02,
Tower S2, Bund Finance Center,
600 Zhongshan Rd East No.2,
Shanghai, 200010, China
(Address of principal executive offices)
Yun Cheng
Telephone:
(021) 6315 3873
Email: ir@lanvin-group.com
At the address of the Company set forth above
(Name, Telephone, Email and/or Facsimile number and Address of Company Contact Person)
Securities registered or to be registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of exchange
on which registered
Ordinary shares
LANV
New York Stock Exchange
Warrants
LANW
New York Stock Exchange
Securities registered or to be registered pursuant to Section 12(g) of the Act:
None
(Title of Class)
Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:
None
(Title of Class)
Indicate the number of outstanding shares of each of the issuer's classes of capital or common stock as of the close of the period covered by the shell
company report: 130,971,070 ordinary shares, one convertible preference share and 31,980,000 warrants as of December 14, 2022.
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities
Act.    Yes  ☐    No  ☒
If this report is an annual or transition report,
indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.    Yes  ☐    No  ☐
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90
days.    Yes  ☐    No  ☒
Indicate by check mark whether the registrant has
submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation
S-T
(§232.405 of this chapter) during the preceding 12 months (or for such shorter period
that the registrant was required to submit such files).    Yes  ☒    No  ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated
filer, or an emerging growth company. See definition of "large accelerated filer," "accelerated filer," and "emerging growth company" in Rule
12b-2
of the Exchange Act.
Large accelerated filer
☐
Accelerated filer
☐
Non-accelerated filer
☒
Emerging growth company
☒
If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if
the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act.  ☐
†
The term "new or revised financial accounting standard" refers to any update issued by the Financial
Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.
Indicate by check mark whether the
registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting over Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered
public accounting firm that prepared or issued its audit report.  ☐
Indicate by check mark which basis of accounting the registrant has
used to prepare the financial statements included in this filing:
U.S. GAAP  ☐
International Financial Reporting Standards as issued
Other  ☐
by the International Accounting Standards Board
☒
If "Other" has been checked in response to the previous question indicate by check mark which financial statement
item the registrant has elected to follow.    Item 17  ☐    Item 18  ☐
If this is
an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule
12b-2
of the Exchange
Act).    Yes  ☐    No  ☐
(APPLICABLE ONLY TO ISSUERS INVOLVED IN
BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)
Indicate by check mark whether the registrant has filed all documents and reports required to be filed
by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.    Yes  ☐    No  ☐
Table of Contents
TABLE OF CONTENTS
EXPLANATORY NOTE
1
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
3
PART I
3
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS
3
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE
3
ITEM 3. KEY INFORMATION
3
ITEM 4. INFORMATION ON THE COMPANY
4
ITEM 4A. UNRESOLVED STAFF COMMENTS
6
ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS
6
ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES
6
ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS
7
ITEM 8. FINANCIAL INFORMATION
9
ITEM 9. THE OFFER AND LISTING
9
ITEM 10. ADDITIONAL INFORMATION
10
ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK
12
ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY
SECURITIES
12
PART II
12
PART III
12
ITEM 17. FINANCIAL STATEMENTS
12
ITEM 18. FINANCIAL STATEMENTS
12
ITEM 19. EXHIBITS
13
EXHIBIT INDEX
13
SIGNATURE
17
i
Table of Contents
EXPLANATORY NOTE
On December 14, 2022 (the "Closing Date"), Lanvin Group Holdings Limited, a Cayman Islands exempted company incorporated with limited liability
("LGHL" or the "Company"), consummated the previously announced business combination pursuant to the business combination agreement, dated as of March 23, 2022 (as amended on October 17, 2022, October 20, 2022,
October 28, 2022 and December 2, 2022, the "Business Combination Agreement"), by and among (i) the Company, (ii) Primavera Capital Acquisition Corporation, a Cayman Islands exempted company incorporated with limited
liability ("PCAC"), (iii) Lanvin Group Heritage I Limited, a Cayman Islands exempted company incorporated with limited liability and wholly-owned subsidiary of LGHL ("Merger Sub 1"), (iv) Lanvin Group Heritage II Limited, a
Cayman Islands exempted company incorporated with limited liability and wholly-owned subsidiary of LGHL ("Merger Sub 2"), and (v) Fosun Fashion Group (Cayman) Limited, a Cayman Islands exempted company incorporated with limited
liability ("FFG"). Pursuant to the Business Combination Agreement, (i) PCAC merged with and into Merger Sub 1, with Merger Sub 1 surviving and remaining as a wholly-owned subsidiary of LGHL (the "Initial Merger"), (ii)
following the Initial Merger, Merger Sub 2 merged with and into FFG, with FFG being the surviving entity and becoming a wholly-owned subsidiary of LGHL (the "Second Merger"), and (iii) subsequently, Merger Sub 1 as the surviving
company of the Initial Merger merged with and into FFG as the surviving company of the Second Merger, with FFG surviving such merger (collectively with the Initial Merger, the Second Merger and the other transactions contemplated by the Business
Combination Agreement, the "Business Combination").
As part of the Business Combination: (i) each of PCAC's units (each consisting of
one Class A ordinary share of PCAC, par value US$0.0001 per share ("PCAC Class A ordinary shares") and
one-half
of one redeemable warrant, each whole warrant entitling the holder thereof to
purchase one PCAC Class A ordinary share at a price of US$11.50 per share, subject to adjustment ("PCAC Warrant")) outstanding immediately prior to the effective time of the Initial Merger (the "Initial Merger Effective
Time") (to the extent not already separated) was separated into one PCAC Class A ordinary share and
one-half
of one PCAC Warrant; (ii) immediately following the separation of each PCAC unit,
each (x) PCAC Class A ordinary share and (y) Class B ordinary share of PCAC, par value US$0.0001 per share ("PCAC Class B ordinary share"), issued and outstanding immediately prior to the Initial Merger Effective
Time, was cancelled in exchange for the right to receive one newly issued ordinary share of LGHL, par value US$0.000001 per share ("Ordinary Share"); (iii) each PCAC Warrant outstanding immediately prior to the Initial Merger Effective
Time was assumed by LGHL and converted into a warrant to purchase one Ordinary Share ("Warrant"), subject to substantially the same terms and conditions as were applicable to such PCAC Warrant immediately prior to the Initial Merger
Effective Time; (iv) each ordinary share,
non-voting
ordinary share and preferred share in FFG held by the shareholders of FFG issued and outstanding immediately prior to the effective time of the Second
Merger (excluding the preferred collateral share of FFG, par value EUR0.0001 per share, held by Meritz Securities co., Ltd, a corporation incorporated under the laws of the Republic of Korea ("Meritz") (the "FFG Collateral
Share")) was cancelled in exchange for the right to receive such number of newly issued Ordinary Shares that is equal to the quotient obtained by dividing US$2.6926188 by US$10.00 (subject to rounding); and (v) the FFG Collateral Share was
cancelled in exchange for the right to receive one newly issued convertible preference share of LGHL, par value US$0.000001 per share ("Convertible Preference Share"). Immediately prior to the Initial Merger Effective Time, Primavera
Capital Acquisition LLC (the "Sponsor") surrendered 6,014,375 PCAC Class B ordinary shares to PCAC for no consideration pursuant to a letter agreement entered into in December 2022, following which the number of PCAC Class B
ordinary shares held by the Sponsor was reduced to 5,000,000.
1
Table of Contents
Concurrently with the execution of the Business Combination Agreement, LGHL, PCAC and certain investors (the
"Initial PIPE Investors"), including Fosun Fashion Holdings (Cayman) Limited, a majority shareholder of FFG, entered into the initial subscription agreements (as restated and amended from time to time (including the amended and restated
subscription agreement entered into on October 28, 2022), the "Initial PIPE Subscription Agreements"), pursuant to which the Initial PIPE Investors committed to subscribe for and purchase, in the aggregate, 5,000,000 Ordinary Shares
for US$10 per share for an aggregate purchase price equal to US$50 million. Fosun Fashion Holdings (Cayman) Limited initially agreed to subscribe for and purchase 3,800,000 Ordinary Shares for an aggregate purchase price of US$38 million.
Subsequently, on October 28, 2022, LGHL, PCAC, Fosun Fashion Holdings (Cayman) Limited, FFG and Fosun International Limited entered into an amended and restated subscription agreement, pursuant to which the number of Ordinary Shares to be
purchased by Fosun Fashion Holdings (Cayman) Limited was increased to 13,327,225, upsizing the PIPE subscription investment of Fosun Fashion Holdings (Cayman) Limited to approximately US$133 million. The subscription commitment of
US$125 million from Fosun Fashion Holdings (Cayman) Limited was effected by way of
re-investment
of all of the repayment proceeds of certain existing shareholder loans that were borrowed by FFG from Fosun
International Limited for working capital purposes. On December 5, 2022, LGHL, PCAC and Handsome Corporation (the "Additional PIPE Investor," and together with the Initial PIPE Investors, the "PIPE Investors") entered into a
subscription agreement (the "Additional PIPE Subscription Agreement," and together with the Initial PIPE Subscription Agreements, the "PIPE Subscription Agreements"), pursuant to which the Additional PIPE Investor committed to
subscribe for and purchase, in the aggregate, 800,000 Ordinary Shares for US$10 per share for an aggregate purchase price equal to US$8 million. On October 16, 2022, FFG and LGHL entered into a private placement subscription agreement with
Meritz (the "Meritz Private Placement Subscription Agreement"), pursuant to which, Meritz subscribed for and purchased 18,569,282 ordinary shares of FFG and the FFG Collateral Share for an aggregate purchase price equal to
US$50 million. In addition, around the time of PCAC's initial public offering, PCAC entered into a forward purchase agreement with Sky Venture Partners L.P. ("Sky Venture") dated January 4, 2021 and a forward purchase
agreement with Aspex Master Fund ("Aspex") dated January 5, 2021, pursuant to which each of Sky Venture and Aspex, respectively, committed to subscribe for and purchase 4,000,000 PCAC Class A ordinary shares, plus 1,000,000 PCAC
Warrants (collectively, the "forward purchase units"), for an aggregate purchase price equal to US$40 million immediately prior to the Initial Merger Effective Time. In connection with the forward purchase agreements, the Sponsor
transferred to each of Sky Venture and Aspex 500,000 PCAC Class B ordinary shares for no cash consideration. Sky Venture defaulted on its obligations under its forward purchase agreement to subscribe for and purchase the forward purchase units
at the agreed time and the Sponsor cancelled the 500,000 PCAC Class B ordinary shares held by Sky Venture. Ordinary Shares issued pursuant to the PIPE Subscription Agreements and Ordinary Shares issued in exchange for the shares purchased
pursuant to the Aspex's forward purchase agreement and the Meritz Private Placement Subscription Agreement have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), in reliance upon the exemption
provided in Section 4(a)(2) of the Securities Act. The PIPE Investors, Meritz and Aspex were granted certain registration rights in connection with the PIPE Subscription Agreements, the Meritz Private Placement Subscription Agreement and the
Aspex's forward purchase agreement.
The Business Combination was consummated on December 14, 2022. The transaction was unanimously approved by
PCAC's Board of Directors and was approved at the extraordinary general meeting of PCAC's shareholders held on December 9, 2022 (the "Extraordinary General Meeting"). PCAC's shareholders also voted to approve all other
proposals presented at the Extraordinary General Meeting. As a result of the Business Combination, PCAC has ceased to exist and the surviving company has become a wholly-owned subsidiary of the Company. On December 15, 2022, Ordinary Shares and
Warrants commenced trading on the New York Stock Exchange, or NYSE, under the symbols "LANV" and "LANW," respectively.
Certain
amounts that appear in this Report may not sum due to rounding.
Unless otherwise indicated or required by context, references in this shell company
report on Form
20-F
(including information incorporated by reference herein, this "Report") to "we," "us," "our," or "LGHL" are to Lanvin Group Holdings
Limited and/or its consolidated subsidiaries, as the context may require.
2
Table of Contents
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This Report contains or may contain forward-looking statements as defined in Section 27A of the Securities Act, and Section 21E of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), that involve significant risks and uncertainties. Forward-looking statements include all statements that are not historical statements of fact and statements regarding, but not limited
to, the respective expectations, hopes, beliefs, intention or strategies of LGHL, FFG or PCAC regarding the future. You can identify these statements by forward-looking words such as "may," "expect," "predict,"
"potential," "anticipate," "contemplate," "believe," "estimate," "intends," "will," "would" and "continue" or similar words. The risk factors and cautionary
language referred to or incorporated by reference in this Report provide examples of risks, uncertainties and events that may cause actual results to differ materially from the expectations described in our forward-looking statements, including
among other things, the matters identified in the section titled "
Risk Factors
" of the Company's Amendment No. 5 of the Registration Statement on Form
F-4
(333-266095)
filed with the Securities and Exchange Commission (the "SEC") on October 31, 2022 (the "Form
F-4"),
which are incorporated by reference
into this Report.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this Report.
Although we believe that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. These statements involve known and unknown risks and are based upon a
number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking
statements. We undertake no obligation to publicly update or revise any forward-looking statements contained in this Report, or the documents to which we refer readers in this Report, to reflect any change in our expectations with respect to such
statements or any change in events, conditions or circumstances upon which any statement is based.
PART I
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS
A.
Directors and Senior Management
The directors and executive officers of the Company upon the consummation of the Business Combination are set forth in the Form
F-4,
in the section titled "
Management of LGHL Following the Business Combination
," which is incorporated herein by reference. The business address for each of the Company's directors and
executive officers is
3701-02,
Tower S2, Bund Finance Center, 600 Zhongshan Rd East No.2, Shanghai, 200010, China.
B.
Adviser
Freshfields Bruckhaus Deringer will act as counsel to the Company upon and following the consummation of the Business Combination.
C.
Auditors
Grant Thornton Zhitong Certified Public Accountants LLP acted as the independent auditor for FFG as of December 31, 2021 and 2020 and for each of the
years in the two-year period ended December 31, 2021 and will continue to act as the independent auditor of the Company upon the consummation of the Business Combination.
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE
Not applicable.
ITEM 3. KEY
INFORMATION
A.
[Reserved]
B.
Capitalization and Indebtedness
The following table sets forth the capitalization of the Company on an unaudited pro forma combined basis as of June 30, 2022, after giving effect to the
Business Combination, the PIPE Subscription Agreements, the Meritz Private Placement Agreement and the Aspex's forward purchase agreement.
As of June 30, 2022 (pro forma)
(€ in thousands)
Cash and cash equivalents
126,842
Total equity
378,037
Debt:
Non-current
borrowings
9,583
Current borrowings
100,443
Total indebtedness
110,026
Total capitalization
488,063
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C.
Reasons for the Offer and Use of Proceeds
Not applicable.
D.
Risk Factors
The risk factors associated with the Company are described in the Form
F-4
in the section titled "
Risk
Factors,
" which is incorporated herein by reference.
ITEM 4. INFORMATION ON THE COMPANY
A.
History and Development of the Company
LGHL was incorporated as an exempted company limited by shares on October 13, 2021. LGHL has been the consolidating entity for purposes of FFG's
financial statements since the consummation of the Business Combination on December 14, 2022. The history and development of LGHL and the material terms of the Business Combination are described in the Form
F-4
under the sections entitled "
Summary of the Proxy Statement/Prospectus
," "
The Business Combination Proposal
," "
Information related to LGHL
" and
"
Description of LGHL Securities
," which are incorporated herein by reference.
LGHL's registered office is c/o Maples Corporate
Services Limited, PO Box 309, Ugland House, Grand Cayman,
KY1-1104,
Cayman Islands, and LGHL's principal executive office is
3701-02,
Tower S2, Bund Finance Center,
600 Zhongshan Rd East No.2, Shanghai, 200010, China. LGHL's principal website address is https://www.lanvin-group.com. We do not incorporate the information contained on, or accessible through, LGHL's websites into this Report, and you
should not consider it a part of this Report. The SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. The SEC's website is
www.sec.gov
.
B.
Business Overview
Following and as a result of the Business Combination, all of LGHL's business is conducted through FFG and its subsidiaries. A description of the business
is included in the Form
F-4
in the sections entitled "
Business of Lanvin Group
" and "
Management's Discussion and Analysis of Financial Condition and Results of Operations of
Lanvin Group
," which are incorporated herein by reference.
C.
Organizational Structure
Upon the consummation of the Business Combination, PCAC ceased to exist and the surviving company became a wholly-owned subsidiary of LGHL. The following
diagram depicts an organizational structure of LGHL as of the date of this Report. Except as otherwise specified, equity interests depicted in this diagram are held as to 100%.
4
Table of Contents
(1)
Includes a total of four other wholly-owned subsidiaries incorporated in the PRC: (i) Shanghai Fulang
Brand Management (Group) Co., Ltd., (ii) Fosun Fashion (Hainan) Industry Development Co., Ltd., (iii) Fosun Fashion (Shanghai) Consulting Management Co., Ltd. and (iv) LANV FASHION PTE. LTD.
(2)
Includes a total of six wholly-owned subsidiaries: (i) Sergio Rossi Hong Kong Limited, a company
incorporated in Hong Kong, (ii) Sergio Rossi Japan Limited, a company incorporated in Japan, (iii) Sergio Rossi UK Limited, a company incorporated in United Kingdom, (iv) Sergio Rossi USA Inc., a company incorporated in the U.S., (v)
Sergio Rossi Retail s.r.l., a company incorporated in Italy and (vi) Sergio Rossi Deutschland GmbH, a company incorporated in Germany. Sergio Rossi Shanghai Trading Limited, a company incorporated in the PRC, is a wholly-owned subsidiary of
Sergio Rossi Hong Kong Limited.
(3)
Includes a total of 13 wholly-owned subsidiaries: (i) Wolford Deutschland GmbH, a company incorporated in
Germany, (ii) Wolford (Schweiz) AG, a company incorporated in Switzerland, (iii) Wolford London Ltd. (UK), a company incorporated in United Kingdom, (iv) Wolford Paris S.A.R.L., a company incorporated in France, (v) Wolford
Italia S.r.l., a company incorporated in Italy, (vi) Wolford España S.L., a company incorporated in Spain, (vii) Wolford Scandinavia ApS, a company incorporated in Denmark, (viii) Wolford America, Inc., a company incorporated
in the U.S., (ix) Wolford Nederland B.V., a company incorporated in Netherlands, (x) Wolford Canada Inc., a company incorporated in Canada, (xi) Wolford Asia Limited, a company incorporated in Hong Kong, (xii) Wolford Belgium N.V., a
company incorporated in Belgium, and (xiii) Wolford (Shanghai) Trading Co., Ltd., a company incorporated in the PRC. Wolford Berangere, a company incorporated in France, is a wholly-owned subsidiary of Wolford Paris S.A.R.L.
(4)
Includes a total of eight wholly-owned subsidiaries incorporated in the U.S.: (i) L1 Bal Harbour LLC,
(ii) L2 Crystals LLC, (iii) L3 Madison LLC, (iv) L4 Rodeo Drive LLC, (v) L5 US ECOM LLC, (vi) L6 MADISON, LLC, (vii) L7 Chicago LLC, and (viii) L8 South Coast Plaza LLC.
(5)
Includes a total of two wholly-owned subsidiaries incorporated in Italy: (i) L1 Outlet Srl and
(ii) L1 Services Srl.
(6)
Includes a total of two wholly-owned subsidiaries: (i) Lans Atelier (SHANGHAI) Trading Co., Ltd., a
company incorporated in the PRC and (ii) LANVIN MACAU LIMITED, a company incorporated in Macao.
(7)
One ordinary share of LANVIN ASIA PACIFIC LIMITED is held by LANVIN JAPAN K.K.
5
Table of Contents
D.
Property, Plants and Equipment
LGHL's property, plants and equipment are held through FFG. Information regarding FFG's property, plants and equipment is described in the Form
F-4
under the section entitled "
Business of Lanvin Group—Property, Plant and Equipment
," which is incorporated herein by reference.
ITEM 4A. UNRESOLVED STAFF COMMENTS
None.
ITEM 5. OPERATING AND
FINANCIAL REVIEW AND PROSPECTS
The discussion and analysis of the financial condition and results of operation of FFG, is included in the Form
F-4
in the section titled "
Management's Discussion and Analysis of Financial Condition and Results of Operations of Lanvin Group
," which is incorporated herein by reference.
ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES
A.
Directors and Senior Management
The directors and executive officers upon the consummation of the Business Combination are set forth in the Form
F-4,
in the section titled "
Management of LGHL Following the Business Combination
," which is incorporated herein by reference.
B.
Compensation
Information pertaining to the compensation of the directors and executive officers of LGHL is set forth in the Form
F-4,
in the sections titled "
Management of LGHL Following the Business Combination—Compensation of Directors and Executive Officers
," "
Management of LGHL Following the Business
Combination—Employment Agreements and Indemnification Agreements
" and "
Management of LGHL Following the Business Combination—Share Incentive Plans
," which are incorporated herein by reference.
6
Table of Contents
C.
Board Practices
Information pertaining to the Company's board practices is set forth in the Form
F-4,
in the section titled
"
Management of LGHL Following the Business Combination
," which is incorporated herein by reference.
D.
Employees
Information pertaining to LGHL's employees is set forth in the Form
F-4,
in the section titled
"Business
of Lanvin Group—Employees
,"
which is incorporated herein by reference.
E.
Share Ownership
Ownership of the Company's shares by its directors and executive officers upon the consummation of the Business Combination is set forth in Item 7.A of
this Report.
ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS
A.
Major Shareholders
The following table sets forth information regarding the beneficial ownership of Ordinary Shares as of December 14, 2022 by:
•
each person known by us to be the beneficial owner of more than 5% of Ordinary Shares;
•
each of our directors and executive officers; and
•
all our directors and executive officers as a group.
Beneficial ownership is determined according to the rules of the SEC, which generally provide that a person has beneficial ownership of a security if that
person possesses sole or shared voting or investment power over that security. A person is also deemed to be a beneficial owner of securities that the person has a right to acquire within 60 days including, without limitation, through the exercise
of any option, warrant or other right or the conversion of any other security. Such securities, however, are deemed to be outstanding only for the purpose of computing the percentage beneficial ownership of that person but are not deemed to be
outstanding for the purpose of computing the percentage beneficial ownership of any other person. Under these rules, more than one person may be deemed to be a beneficial owner of the same securities.
The calculations of the percentage of beneficial ownership are based on 130,971,070 Ordinary Shares issued and outstanding, as of December 14, 2022.
Unless otherwise indicated, we believe that all persons named in the table below have sole voting and investment power with respect to all Ordinary Shares
beneficially owned by them.
7
Table of Contents
Name of Beneficial Owner
Ordinary Shares
% of Total
Ordinary
Shares /
Voting Power
Principal Shareholders
Fosun International Limited
(1)
85,054,571
64.94
%
Fosun Fashion Holdings (Cayman)
Limited
(1)
78,982,980
60.31
%
Brilliant Fashion Holdings
Limited
(2)
8,651,247
6.61
%
Natixis
(3)
7,919,466
6.05
%
Directors and Executive
Officers
(4)
Yun Cheng
(2)
8,651,247
6.61
%
Tong "Max" Chen
—
—
Zhen Huang
—
—
Shunjiang Qian
—
—
Mitchell Alan Garber
(5)
421,912
*
Jennifer Fleiss
—
—
Jurjan Wouda Kuipers
—
—
Kat Yu David Chan
(6)
*
*
Xiaojing Grace Zhao
(6)
*
*
Shang Hsiu Koo
(6)
*
*
Gong Cheng
(6)
*
*
All directors and executive officers as a group (11 individuals)
9,073,159
6.93
%
*
Less than 1% of the total number of outstanding Ordinary Shares
(1)
Represents (i) 78,982,980 Ordinary Shares held by Fosun Fashion Holdings (Cayman) Limited, including Ordinary
Shares issued to Fosun Fashion Holdings (Cayman) Limited pursuant to the Initial PIPE Subscription Agreements, and (ii) 6,071,591 Ordinary Shares held by Yujing Fashion (BVI) Limited. Fosun Fashion Holdings (Cayman) Limited is wholly-owned by Fosun
International Limited (HKSE Stock Code: 0656). Yujing Fashion (BVI) Limited is wholly-owned by Yu Jing Industrial Limited, which is in turn wholly owned by Shanghai Yuyuan Tourist Mart (Group) Co., Ltd. Shanghai Yuyuan Tourist Mart (Group) Co., Ltd
is majority-owned by Fosun International Limited (HKSE Stock Code: 00656) indirectly through a number of intermediate subsidiaries. The business address of each of Fosun Fashion Holdings (Cayman) Limited and Yujing Fashion (BVI) Limited is
3701-02,
Tower S2, Bund Finance Center, 600 Zhongshan Rd East No.2, Shanghai, 200010, China.
(2)
Represents 8,651,247 Ordinary Shares held by Brilliant Fashion Holdings Limited, which is the settlor of our
employee incentive award plan trust with Futu Trustee Limited as the trustee. See the section titled "
Management of LGHL Following the Business Combination—Share Incentive Plans
" in the Form
F-4,
which is incorporated herein by reference. As the sole director of Brilliant Fashion Holdings Limited, Yun Cheng is the administrator of our employee incentive award plan. In addition, Yun Cheng is the
sole shareholder of Creative Fashion Holdings Limited, which holds the sole voting share (Class A ordinary share) of Brilliant Fashion Holdings Limited. Therefore, Yun Cheng has voting power and dispositive power over Ordinary Shares held by
Brilliant Fashion Holdings Limited and may be deemed the beneficial owner of such Ordinary Shares, including 1,619,752 of which, Yun Cheng has dispositive power over due to her right to receive within 60 days after December 14, 2022 the
economic beneficiary interest corresponding to such number of Ordinary Shares pursuant to our employee incentive award plan. The business address of Brilliant Fashion Holdings Limited is
3701-02,
Tower S2,
Bund Finance Center, 600 Zhongshan Rd East No.2, Shanghai, 200010, China.
(3)
In respect of the 7,919,466 Ordinary Shares held by Natixis, Fosun International Limited entered into a
financing total return swap ("TRS") with Natixis, as evidenced by a Confirmation dated as of September 16, 2019 and governed by an ISDA Master Agreement dated as of September 12, 2017 between Natixis and Fosun International
Limited, as such confirmation or agreement (as the case may be) may be amended and supplemented from time to time, pursuant to which, among other things, Natixis passed through to Fosun International Limited the full economic exposure to LGHL after
the Merger Effective Time (as defined within the TRS).
(4)
The business address of each of the directors and executive officers of the Company is
3701-02,
Tower S2, Bund Finance Center, 600 Zhongshan Rd East No.2, Shanghai, 200010, China.
8
Table of Contents
(5)
Represents 421,912 Ordinary Shares held by Stephenson Management Inc., a holding company wholly-owned by
Mitchell Alan Garber and his spouse Anne-Marie Boucher. The business address of Stephenson Management Inc. is 2200 Stanley Street, Montreal, Quebec, Canada.
(6)
Represents Ordinary Shares over which such person has dispositive power due to such person's right to
receive within 60 days after December 14, 2022 the economic beneficiary interest corresponding to such number of Ordinary Shares pursuant to our employee incentive award plan.
B.
Related Party Transactions
Information pertaining to LGHL's related party transactions is set forth in the Form
F-4,
in the section titled
"
Certain Relationships and Related Person Transactions—Lanvin Group and LGHL's Relationships and Related Party Transactions
," which is incorporated herein by reference.
C.
Interests of Experts and Counsel
None / Not applicable.
ITEM 8.  FINANCIAL INFORMATION
A.
Consolidated Statements and Other Financial Information
Financial Statements
Consolidated financial
statements have been filed as part of this Report. See Item 18 "Financial Statements."
Legal Proceedings
Legal or arbitration proceedings are described in the Form
F-4
under the heading "
Information Related to
LGHL—Legal Proceedings,
" which is incorporated herein by reference.
Dividend Policy
LGHL's policy on dividend distributions is described in the Form
F-4
under the heading "
Description of
LGHL Securities—Ordinary Shares—Dividends,
" which is incorporated herein by reference.
ITEM 9.
THE OFFER AND LISTING
A.
Offer and Listing Details
Ordinary Shares and Warrants are listed on NYSE under the symbols "LANV" and "LANW," respectively. Holders of Ordinary Shares and Warrants
should obtain current market quotations for their securities.
B.
Plan of Distribution
Not applicable.
C.
Markets
Ordinary Shares and Warrants are listed on NYSE under the symbols "LANV" and "LANW," respectively.
D.
Selling Shareholders
Not applicable.
9
Table of Contents
E.
Dilution
Not applicable.
F.
Expenses of the Issue
Not applicable.
ITEM 10.
ADDITIONAL INFORMATION
A.
Share Capital
The Company's authorized share capital is US$50,000 divided into (a) 49,984,999,999 Ordinary Shares, (b) 15,000,000
non-voting
ordinary shares with a par value of US$0.000001 each
("Non-Voting
Shares") and (c) one Convertible Preference Share.
As of December 14, 2022, subsequent to the closing of the Business Combination, 130,971,070 Ordinary Shares and one Convertible Preference Share were
outstanding and issued. The Convertible Preference Share is convertible into an aggregate number of up to 15,000,000
Non-Voting
Shares and/or Ordinary Shares (subject to any adjustment as a result of any share
subdivision or consolidation of the shares of the Company) at the election of Meritz upon the occurrence of certain events. There are also 31,980,000 Warrants outstanding, each whole warrant exercisable at US$11.50 per one Ordinary Share, of which
20,700,000 are public warrants ("Public Warrants") listed on NYSE and 11,280,000 are private placement warrants ("Private Warrants") held by the Sponsor and Aspex.
B.
Memorandum and Articles of Association
The articles of association of the Company effective as of December 14, 2022 are filed as part of this Report.
The description of the articles of association of LGHL contained in the Form
F-4
in the section titled
"
Description of LGHL Securities
" is incorporated herein by reference.
C.
Material Contracts
Material Contracts Relating to LGHL's Operations
Information pertaining to LGHL's material contracts is set forth in the Form
F-4,
in the sections titled
"
Management's Discussion and Analysis of Financial Condition and Results of Operations of Lanvin Group—Liquidity and Capital Resources—Borrowing
," "
Business of Lanvin Group
," "
Risk
Factors
—Risks Relating to LGHL's Business and Operations Following the Business Combination
," and "
Certain Relationships and Related Person Transactions
," each of which is incorporated herein by reference.
Material Contracts Relating to the Business Combination
Business Combination Agreement
The description of the
Business Combination Agreement in the Form
F-4
in the section titled
"The Business Combination Proposal
"
is incorporated herein by reference.
Related Agreements
The description of the material
provisions of certain additional agreements entered into pursuant to the Business Combination Agreement in the Form
F-4
in the section titled "
Summary of the Material Terms of the Business
Combination—Ancillary Agreements
"
is incorporated herein by reference.
10
Table of Contents
D.
Exchange Controls
There are no governmental laws, decrees, regulations or other legislation in the Cayman Islands that may affect the import or export of capital, including the
availability of cash and cash equivalents for use by LGHL, or that may affect the remittance of dividends, interest, or other payments by LGHL to
non-resident
holders of its Ordinary Shares. There is no
limitation imposed by the laws of the Cayman Islands or in LGHL's articles of association on the right of
non-residents
to hold or vote shares.
E.
Taxation
Information pertaining to tax considerations is set forth in the Form
F-4,
in the sections titled "
Certain Tax
Considerations
" which is incorporated herein by reference.
F.
Dividends and Paying Agents
Information regarding LGHL's policy on dividends is described in the Form
F-4
under the heading
"
Description of LGHL Securities—Ordinary Shares—Dividends
," which is incorporated herein by reference. LGHL has not identified a paying agent.
G.
Statement by Experts
The consolidated financial statements of FFG incorporated by reference in this Report have been so incorporated by reference in reliance upon such report of
Grant Thornton Zhitong Certified Public Accountants LLP, independent registered public accountants, upon the authority of the said firm as expert in accounting and auditing.
The financial statements of PCAC incorporated by reference in this Report have been so incorporated by reference in reliance upon such report of
WithumSmith+Brown, PC, independent registered public accountants, upon the authority of the said firm as expert in accounting and auditing.
H.
Documents on Display
We are subject to certain of the informational filing requirements of the Exchange Act. Since we are a "foreign private issuer," we are exempt from
the rules and regulations under the Exchange Act prescribing the furnishing and content of proxy statements, and our officers, directors and principal shareholders are exempt from the reporting and "short-swing" profit recovery provisions
contained in Section 16 of the Exchange Act, with respect to their purchase and sale of our shares. In addition, we are not required to file reports and financial statements with the SEC as frequently or as promptly as U.S. companies whose
securities are registered under the Exchange Act. However, we are required to file with the SEC an Annual Report on Form
20-F
containing financial statements audited by an independent accounting firm. We may,
but are not required, to furnish to the SEC, on Form
6-K,
unaudited financial information after each of our first three fiscal quarters. The SEC also maintains a website at
http://www.sec.gov
that contains reports and other information that we file with or furnish electronically with the SEC.
I.
Subsidiary Information
Not applicable.
11
Table of Contents
ITEM 11.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
The information set forth in the section titled "
Management's Discussion and Analysis of Financial Condition and Results of Operation of Lanvin
Group—Qualitative and Quantitative Information on Financial Risks
" in the Form
F-4
is incorporated herein by reference.
ITEM 12.
DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES
Warrants
Upon the completion of the Business
Combination, there were 20,700,000 Public Warrants outstanding. The Public Warrants, which entitle the holder to purchase one Ordinary Share for each one whole Public Warrant at an exercise price of US$11.50 per share, will become exercisable on
January 13, 2023, which is 30 days after the completion of the Business Combination. The Public Warrants will expire on December 14, 2027 (i.e., five years after the completion of the Business Combination) or earlier upon redemption or
liquidation in accordance with their terms. Upon the completion of the Business Combination, there were also 10,280,000 Private Warrants held by the Sponsor and 1,000,000 Private Warrants held by Aspex. The Private Warrants are identical to the
Public Warrants in all material respects, except that with respect to the Private Warrants held by the Sponsor, so long as they are held by the Sponsor or its permitted transferees, such Private Warrants (i) are not redeemable, (ii) may
not, subject to certain limited exceptions, be transferred, assigned or sold by the holder until January 13, 2023, which is 30 days after the completion of the Business Combination, (iii) may be exercised by the holders on a cashless
basis, and (iv) are entitled to registration rights.
PART II
Not applicable.
PART III
ITEM 17.
FINANCIAL STATEMENTS
Not applicable.
ITEM 18.
FINANCIAL STATEMENTS
The audited consolidated financial statements of FFG and its subsidiaries as of December 31, 2021 and 2020 and for the years ended December 31, 2021 and 2020
contained in the Form
F-4
between pages
F-28
and
F-88
are incorporated herein by reference.
The unaudited interim condensed consolidated financial statements of FFG and its subsidiaries as of June 30, 2022 and for the six months ended June 30,
2022 and 2021 contained in the Form
F-4
between pages
F-2
and
F-27
are incorporated herein by reference.
The unaudited condensed financial statements of PCAC as of June 30, 2022 and for the six months ended June 30, 2022 and the audited condensed financial
statements of PCAC as of December 31, 2021 and 2020 and for the year ended December 31, 2021 and the period from July 16, 2022 (inception) through December 31, 2022 contained in the Form
F-4
between pages
F-89
and
F-135
are incorporated herein by reference.
The unaudited pro forma
condensed combined financial information of FFG and PCAC are attached as Exhibit 15.1 to this Report.
12
Table of Contents
ITEM 19. EXHIBITS
EXHIBIT INDEX
EXHIBIT
NUMBER
DESCRIPTION
1.1
Amended and Restated Memorandum and Articles of Association of Lanvin Group Holdings Limited (incorporated by reference to Exhibit 3.1 to the
 Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
2.1
Specimen ordinary share certificate of LGHL (incorporated by reference to Exhibit 4.1 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
2.2
Specimen warrant certificate of LGHL (incorporated by reference to Exhibit 4.2 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
2.3
Warrant Agreement, dated as of January 
21, 2021, between Primavera Capital Acquisition Corporation and Continental Stock Transfer & Trust Company (incorporated by reference to Exhibit 4.3 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
2.4
Assignment, Assumption and Amendment Agreement, dated as of March 
23, 2022, by and among Primavera Capital Acquisition Corporation, Lanvin Group Holdings Limited, and Continental Stock Transfer & Trust Company (incorporated by reference to Exhibit 10.6 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
3.1
FFG Shareholder Support Deed, dated as of March 
23, 2022, by and among Primavera Capital Acquisition Corporation, Fosun Fashion Group (Cayman) Limited, Lanvin Group Holdings Limited, and certain other parties thereto (incorporated by reference to Exhibit 10.3 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
3.2
Sponsor Support Deed, dated as of March 
23, 2022, by and among Primavera Capital Acquisition Corporation, Fosun Fashion Group (Cayman) Limited, Primavera Capital Acquisition LLC, Lanvin Group Holdings Limited, and certain other parties thereto (incorporated by reference to Exhibit 10.2 to the
 Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
3.3
Amendment No.1 to Sponsor Support Deed dated October 
28, 2022, by and among Primavera Capital Acquisition Corporation, Fosun Fashion Group (Cayman) Limited, Primavera Capital Acquisition LLC, Lanvin Group Holdings Limited, and certain other parties thereto (incorporated by reference to Exhibit 10.25 to the
Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
3.4
Letter Agreement to the Shareholder Support Deed dated October 
28, 2022, between Primavera Capital Acquisition Corporation, Lanvin Group Holdings Limited, Fosun Fashion Group (Cayman) Limited and Fosun Fashion Holdings (Cayman) Limited (incorporated by reference to Exhibit 10.26 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.1
Business Combination Agreement, dated as of March 
23, 2022, by and among Primavera Capital Acquisition Corporation, Fosun Fashion Group (Cayman) Limited, Lanvin Group Holdings Limited, Lanvin Group Heritage I Limited and Lanvin Group Heritage II Limited (incorporated by reference to Exhibit 2.1 to the
 Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
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Table of Contents
EXHIBIT
NUMBER
DESCRIPTION
4.2
Registration Rights Agreement, dated January 
21, 2021, between Primavera Capital Acquisition Corporation and certain security holders (incorporated by reference to Exhibit 10.10 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.3
Amendment No.1 to the Business Combination Agreement, dated as of October 
17, 2022, by and among Primavera Capital Acquisition Corporation, Fosun Fashion Group (Cayman) Limited, Lanvin Group Holdings Limited, Lanvin Group Heritage I Limited and Lanvin Group Heritage II Limited (incorporated by reference to Exhibit 2.2 to the
 Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.4
Amendment No. 2 to the Business Combination Agreement, dated as of October 
20, 2022, by and among Primavera Capital Acquisition Corporation, Fosun Fashion Group (Cayman) Limited, Lanvin Group Holdings Limited, Lanvin Group Heritage I Limited and Lanvin Group Heritage II Limited (incorporated by reference to Exhibit 2.3 to the
 Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.5
Amendment No. 3 to the Business Combination Agreement, dated as of October 
28, 2022, by and among Primavera Capital Acquisition Corporation, Fosun Fashion Group (Cayman) Limited, Lanvin Group Holdings Limited, Lanvin Group Heritage I Limited and Lanvin Group Heritage II Limited (incorporated by reference to Exhibit 2.4 to the
 Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.6
Amendment No. 
4 to the Business Combination Agreement, dated as of December 2, 2022, by and among Primavera Capital Acquisition Corporation, Fosun Fashion Group (Cayman) Limited, Lanvin Group Holdings Limited, Lanvin Group Heritage I Limited and Lanvin Group Heritage
 II Limited (incorporated by reference to Exhibit 2.5 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on
July 11, 2022).
4.7*
Brilliant Fashion Incentive Award Plan
4.8
Form of Indemnification Agreement between LGHL and each executive officer of LGHL (incorporated by reference to Exhibit 10.7 to the Registration
 Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.9
Form of PIPE Subscription Agreement (incorporated by reference to Exhibit 10.1 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.10
Lock-Up
Agreement, dated as of March 
23, 2022, by and among Primavera Capital Acquisition Corporation, Primavera Capital Acquisition LLC, Lanvin Group Holdings Limited, and certain other parties thereto (incorporated by reference to Exhibit 10.4 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.11
Investor Rights Agreement, dated as of March 
23, 2022, by and among Primavera Capital Acquisition Corporation, Primavera Capital Acquisition LLC, Fosun Fashion Group (Cayman) Limited, Lanvin Group Holdings Limited, and certain other parties thereto (incorporated by reference to Exhibit 10.5 to the
 Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.12
Letter Agreement, dated January 
21, 2021, among Primavera Capital Acquisition Corporation and its officers and directors and Primavera Capital Acquisition LLC (incorporated by reference to Exhibit 10.8 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
14
Table of Contents
EXHIBIT
NUMBER
DESCRIPTION
4.13
Forward Purchase Agreement dated as of January 
5, 2021, between Primavera Capital Acquisition Corporation, Primavera Capital Acquisition LLC and Aspex Master Fund (incorporated by reference to Exhibit 10.19 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.14
Forward Purchase Agreement dated as of January 
4, 2021, between Primavera Acquisition Corporation, Primavera Capital Acquisition LLC and Sky Venture Partners L.P. (incorporated by reference to Exhibit 10.20 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.15
Investment Management Trust Agreement, dated January 
21, 2021, between Primavera Capital Acquisition Corporation and Continental Stock Transfer 
& Trust Company, as trustee (incorporated by reference to Exhibit 10.9 to the Registration Statement on Form
F-4
(Reg.
No. 
333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.16
Administrative Services Agreement, dated January 
21, 2021, between Primavera Capital Acquisition Corporation and Primavera Capital Acquisition LLC (incorporated by reference to Exhibit 10.11 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.17
Private Placement Warrants Purchase Agreement, dated January 
21, 2021, between Primavera Capital Acquisition Corporation and Primavera Capital Acquisition LLC (incorporated by reference to Exhibit 10.12 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.18
Indemnity Agreement, dated January 
21, 2021, between Primavera Capital Acquisition Corporation and Tong Chen (incorporated by reference to Exhibit 10.13 to the Registration Statement on Form
F-4
(Reg.
No. 
333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.19
Indemnity Agreement, dated January 
21, 2021, between Primavera Capital Acquisition Corporation and Chenling Zhang (incorporated by reference to Exhibit 10.14 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.20
Indemnity Agreement, dated January 
21, 2021, between Primavera Capital Acquisition Corporation and Muktesh Pant (incorporated by reference to Exhibit 10.15 to the Registration Statement on Form
F-4
(Reg.
No. 
333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.21
Indemnity Agreement, dated January 
21, 2021, between Primavera Capital Acquisition Corporation and Teresa Teague (incorporated by reference to Exhibit 10.16 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.22
Indemnity Agreement, dated January 21, 2021, between Primavera Capital Acquisition Corporation and Sonia Cheng
Chi-Man
(incorporated by reference to Exhibit 10.17 to the Registration Statement on Form
F-4
(Reg.
No. 
333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.23
Promissory Note, dated January 
28, 2022, issued by Primavera Capital Acquisition Corporation to Primavera Capital Acquisition LLC (incorporated by reference to Exhibit 10.18 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
15
Table of Contents
EXHIBIT
NUMBER
DESCRIPTION
4.24
Share Subscription Agreement in relation to the shares of Fosun Fashion Group (Cayman) Limited dated as of October 
16, 2022 between Fosun Fashion Group (Cayman) Limited, Lanvin Group Holdings Limited and Meritz Securities Co., Ltd. (incorporated by reference to Exhibit 10.21 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.25
Relationship Agreement dated October 
19, 2022 between Lanvin Group Holdings Limited, Meritz Securities Co., Ltd. (incorporated by reference to Exhibit 10.22 to the Registration Statement on Form
F-4
(Reg.
No. 
333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.26
Letter Agreement, dated September 
29, 2022, between Primavera Capital Acquisition Corporation and Primavera Capital Acquisition LLC (incorporated by reference to Exhibit 10.23 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.27
Amended and Restated Subscription Agreement, dated October 
28, 2022, between Lanvin Group Holdings Limited, Primavera Capital Acquisition Corporation, Fosun Fashion Holdings (Cayman) Limited, Fosun Fashion Group (Cayman) Limited and Fosun International Limited (incorporated by reference to Exhibit 10.24 to the
 Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.28
Form of
Non-redemption
agreement to be entered into between Primavera Capital Acquisition Corporation,
 Lanvin Group Holdings Limited, Fosun Fashion Group (Cayman) Limited and certain holders of Class A Ordinary Shares of Primavera Capital Acquisition Corporation (incorporated by reference to Exhibit 10.27 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.29
Share Surrender Letter Agreement, dated as of December 
2, 2022, by and among Primavera Capital Acquisition Corporation, Lanvin Group Holdings Limited, Primavera Capital Acquisition LLC and Fosun Fashion Holdings (Cayman) Limited (incorporated by reference to Exhibit 10.28 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
4.30
Waiver Letter Agreement, dated as of December 
2, 2022, by and among Primavera Capital Acquisition Corporation and Primavera Capital Acquisition LLC (incorporated by reference to Exhibit 10.29 to the Registration Statement on Form
F-4
(Reg.
No. 333-266095),
as amended, initially filed with the SEC on July 11, 2022).
8.1*
List of subsidiaries of LGHL.
15.1*
Unaudited Pro Forma Condensed Combined Financial Information of FFG and PCAC.
15.2*
Consent of Grant Thornton Zhitong Certified Public Accountants LLP.
15.3*
Consent of WithumSmith+Brown, PC.
*   Filed herewith.
16
Table of Contents
SIGNATURE
The registrant hereby certifies that it meets all of the requirements for filing on Form
20-F
and that it has duly
caused and authorized the undersigned to sign this Report on its behalf.
LANVIN GROUP HOLDINGS LIMITED
December 20, 2022
By:
/s/ Yun Cheng
Name: Yun Cheng
Title: Chief Executive Officer
17