Sustainability Channel

FINANCIAL STATEMENTS AS OF 30 JUNE

The Board of Directors of Pirelli & C. SPA approves financial statements as of 30 June 2009:

• second quarter operating results improved over the first quarter;
• operating trend in line with overall targets of 2009-2011 industrial plan;
• target for financial position improves: net debt forecast for year end at approximately 800 mil lion euros;
• new model of risk monitoring and management introduced: broadens functions and number of components of internal control and Corporate Governance committee; compliance function introduced, separate from internal audit function; risk officer instated.

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PIRELLI LEADER IN CORPORATE GOVERNANCE

The corporate governance model of Pirelli & C. has been rated by GMI (Governance Metrics International) the best in Italy, with a 10/10 score given by the company, which specializes in corporate governance research. GMI’s latest ‘Country Ranking’ (September 2008) assigned an average rating of 5.32/10 to Italy.

In addition to placing in the top slot on a national basis, Pirelli also received a rating of 9/10 in the ranking that includes 4,162 companies evaluated on a worldwide basis, finishing among the highest-ranking companies in the ‘Automobile and Components’ category, where the average score was 5/10.

Governance Metrics International (GMI) is a corporate governance research and ratings firm, which ranked as ‘Top Corporate Governance Research Firm’ in the 2009 Thomson Reuters Extel Survey. The results Pirelli obtained are confirmation of the attention the Pirelli Group reserves to its corporate governance, consistently adopting national and international best practices as its own.

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ETRMA PUBLISH ITS ANNUAL REPORT 2008-2009

“We live in extraordinary times which require extraordinary responses; a combination of economic, social, technological changes will have to be implemented towards generating newer and greater opportunities“. With these words Mr Francesco Gori, President of ETRMA and CEO of Pirelli Tyre and Ms Fazilet Cinaralp, Secretary General of ETRMA, introduce the ETRMA Annual Report 2008-2009.

While celebrating 50 years of industry contribution to building a European policy framework which benefits consumers and promotes competitiveness, the Report communicates European Tyre & Rubber manufacturers’ commitment towards a sustainable EU policy framework and economic recovery, clearly sating ETRMA strategies for:

• Contributing to reduction of CO2 emissions
• Developing strategies for promoting environmental protection
• Promoting industry competitiveness on the global market
  ETRMA represents the tyre and rubber manufacturing industry at the European Union institutions and other international organisations in initiatives aimed at road safety, environmental protection and competitiveness.

For in-depth information, visit www.etrma.org