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PIRELLI AND EGYPT’S MINISTER OF INVESTMENT SIGN MOU FOR POSSIBLE EXPANSION OF FACTORY IN ALEXANDRIA

Pirelli Tyre S.p.A and the Minister of Investment of the Arab Republic of Egypt today signed a Memorandum of Understanding the object of which is the evaluation of the possible expansion of the Alexandria Tire Co. (Atco), which is over 90% controlled by Pirelli and produces radial truck tyres in Alexandria, Egypt.

The MOU was signed following the Italian-Egyptian Business Council meeting in Rome today, in the presence of the President of the Arab Republic of Egypt, His Excellency President Abdel Fattah El-Sisi. The MOU was signed by Minister Ashraf Salman, the Egyptian Minister of Investment, and Mr Alberto Pirelli, vice president Pirelli & C. S.p.A and head of Region Middle East, Africa and India for Pirelli Tyre S.p.A. Also present were Minister Mounir Fakhry Abdel Nour, the Egyptian Minister of Trade and Industry, and Deputy Minister Carlo Calenda, the Italian Deputy Minister for Economic Development in charge of Foreign Trade.

On the basis of the MOU, it is foreseen that Atco would invest around $107 million (about 85 million euro) in the expansion and further technological upgrade of its factory. The investment is expected to take place over a 36 month period, when the conditions for the launch of the expansion activities have been met. When completed, this would result in up to 250 new direct jobs at Atco, as well as additional employment opportunities in related services, and an annual production increase of about 300,000 radial truck tyres.

Since 1999, when it became the major shareholder in Atco, Pirelli has invested about 200 million euro in Egypt and at present it directly employs more than 1,200 people and produces approximately 850,000 truck tyres a year.

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FTSE4GOOD: PIRELLI ESG RATING IS 100/100 FOR THE THIRD YEAR IN A ROW

The FTSE4Good Semi-Annual September 2014 Review conducted by FTSE has reconfirmed Pirelli in the share indices for responsible investment of the London Stock ExchangeFTSE4Good – Automobile & Parts – with a top ESG rating of 100 points out of 100 for the third year in a row.

The FTSE4Good Series is designed to help investors integrate environmental, social and governance (ESG) factors into their investments.

The indices identify companies that better manage ESG risks and are used as a basis for tracker funds, structured products and as a performance benchmark.

The ESG Ratings are used by investors who wish to incorporate ESG factors into their investment decision making processes, or as a framework for corporate engagement and stewardship.

For more information: www.ftse.com


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PIRELLI BEST COMPANY IN THE “CLIMATE DISCLOSURE LEADERSHIP INDEX ITALY 2014“

LEADER FOR THE COMPLETENESS OF ITS STRATEGY IN THE FIGHT AGAINST CLIMATE CHANGE AND TRANSPARENCY IN COMMUNICATION

Pirelli has been recognized as leader on the “Climate Disclosure Leadership Index Italy 2014” (CDLI), an index which evaluates the completeness of a company’s strategy against climate change and the transparency of its communication to stakeholders. Pirelli scored 99/100.

The result was announced today in Milan during the presentation of the CDP Italy 100 Climate Change Report 2014, prepared by SDA-Bocconi with the support of IMQ, and focused on the ways in which the 100 biggest listed Italian companies face and manage climate change.

Pirelli’s commitment to investors and stakeholders in the challenging area of climate change can be seen in its integration of environmental sustainability targets – both for products and processes – into the Group’s Industrial Plan. Pirelli has set itself the goal of reducing rolling resistance by 40% for its car tyres, by 20% in the truck segment and by 10% in motorcycles by 2020 compared with 2007. By the same deadline, 2020, Pirelli plans to reduce specific CO2 emissions by 15% and the specific consumption of energy in its factories by 18% compared with 2009.

Pirelli’s main global commitments in the area of Climate Change includes CDP Supply Chain,  a programme which in 2014 involved over 120 strategic suppliers in the quantification of benefits in financial, reputational and risk management terms stemming from the correct management of its CO2 emissions.

Pirelli has further underwritten, in the context of the Prince of Wales’s Corporate Leaders Group, the “Trillion Tonne Communiqué”, a programme-document for the reduction of global emissions with the aim of keeping the earth’s temperature rise within a 2° C limit. Pirelli also subscribed to “Road to Paris 2015”, an international initiative which aims to promote the cooperation between the public and private sectors in order to find shared solutions and policies to deal with climate change. The initiative resulted in Pirelli’s signing of the international agreement on climate change (“Paris Declaration”) which will be underwritten during the next worldwide meeting of the UNFCCC which will take place in the French capital in 2015.

About CDP

CDP is an international, not-for-profit organization providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information.  CDP works with market forces, including 767 institutional investors with assets of US$92 trillion, to motivate companies to disclose their impacts on the environment and natural resources and take action to reduce them.  CDP now holds the largest collection globally of primary climate change, water and forest risk commodities information and puts these insights at the heart of strategic business, investment and policy decisions.  For more information www.cdp.net

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