The Shareholders' meeting approves 2009 financial statements

PIRELLI & C. SPA SHAREHOLDERS’ MEETING:

• 2009 FINANCIAL STATEMENTS APPROVED

• DIVIDEND DISTRIBUTION OF 0.0145 EUROS PER ORDINARY SHARE AND 0.0406 EUROS PER SAVINGS SHARE APPROVED
  • THRESHOLD FOR PRESENTATION OF LISTS FOR BOARD OF STATUTORY AUDITORS REDUCED TO 1.5% OF SHARE CAPITAL

  Milan, 21 April 2010 – The Shareholders of Pirelli & C. SpA met today in an ordinary and an extraordinary session.

  In the ordinary session, the Shareholders’ meeting approved the 2009 financial statements, resolving upon distribution of a dividend of 0.0145 euros per ordinary share and 0.0406 euros per savings share. The dividend per share attributed to savings shares includes the 2009 dividend (0.0203 euros) and, as foreseen by the By-laws, what was not assigned for the 2008 fiscal year (0.0203 euros). The payment date will be 27 May 2010 (coupon 24 May 2010).

  The Shareholders’ meeting, in its extraordinary session, resolved to reduce to 1.5% of share capital the threshold foreseen by the By-laws for presentation of lists for renewal of the Board of Statutory Auditors. The threshold approved is lower than the one established by Consob for this year (2% of capital), confirming the importance the Company gives to the real possibility of participation in corporate governance bodies by minority shareholders.

  In line with certain laws recently approved, the Shareholders’ meeting also voted to introduce into the By-laws the possibility for the Company to call the shareholders’ meetings approving the financial statements within 180 days of the end of the fiscal year, in lieu of the current 120 days.

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  The annual financial report of Pirelli & C. SpA including the Company’s balance sheet and the consolidated balance sheet as of 31 December 2009, as well as further documentation foreseen by laws in force, is available to the public, at the headquarters in Milan, Viale Piero e Alberto Pirelli 25, and at Borsa Italiana SpA. The Sustainability report and the corporate governance report and ownership structure for 2009 have been published together with the afore-mentioned documents. This same documentation is available on the website www.pirelli.com.

  Minutes of the meeting will be made available to the public with the same means within the deadline established by governing laws and regulations.

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  • The Board of Directors approves 2009 Financial Statements

PIRELLI CONFIRMED AS GLOBAL SUSTAINABILITY LEADER IN DOW JONES INDEXES

This is the outcome of the 2009 review by the SAM Group of the Dow Jones sustainability indices, in which Pirelli continues to be included both in the DJSI WORLD index and in the European DJSI STOXX index.

Within its segment, the Bicocca Group – the only Italian group that has achieved worldwide leadership – obtained a global rating of 88% (+ 11% with respect to 2008) compared with a segment average of 48%.

Exactly as in previous years, for the Autoparts & Tyres segment, only 4 companies were featured in the DJSI World index: Pirelli & C, Denso Corp, Michelin, and Johnson Control Inc., while only two are included in the DJSI STOXX: Pirelli and Michelin.

SAM (Sustainable Asset Management) is the Swiss ethical rating agency that carries out the process of selection of companies for admission to the Dow Jones Sustainability Index, a global index that brings together the best companies in the field of economic, financial, environmental and social sustainability, the result of collaboration between the Dow Jones New York stock exchange index, STOXX Ltd. and the SAM Group. Pirelli was selected and added to the Dow Jones Sustainability STOXX (DJSI STOXX) index for the first time in 2002 and has been included for years now also in the global Dow Jones Sustainability World Index

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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