Sustainability Channel

BOARD CO-OPTS MANUELA SOFFIENTINI AND GIUSEPPE VITA. CHANGE TO COMPANY CALENDAR: BOARD TO REVIEW 2011 RESULTS 12 MARCH

The Board of Directors of Pirelli & C. met today and co-opted Giuseppe Vita, in place of Mr. Enrico Tommaso Cucchiani, who resigned from the board on 16 December 2011, and Manuela Soffientini, in place of Professor Francesco Profumo, who resigned from the board on 16 November 2011.

The two were co-opted at the proposal of the Committee for Nominations and Succession which had opportunely consulted Assogestioni, the association of the Italian investment management industry,  for the selection of the candidates to propose to the Board,  considering that Mr.  Profumo had been chosen from a minority list presented by institutional investors under the aegis of Assogestioni.  In line with Pirelli’s commitment to constantly keeping its system aligned with national and international best practice, the Committee for Nominations and Succession proposed Manuela Soffientini: which also enhances the female component of the Board bringing it to 20% and thus already in line with the requirements set out in the new law ( no. 120 of 12 July 2011), applicable to the Pirelli Board of Directors from the renewal scheduled with the shareholder meeting to approve results on 31 December 2013.

The Board of Directors also decided, on the basis of available information and statements from the person concerned, that the requisites of independence have been met (both in terms of legislative decree 58/1998 and the code of self-regulation for listed companies) with regard to board member Soffientini.

The curricula of Soffientini and Vita can be seen at www.pirelli.com.

Pirelli & C. SpA also announces that the Board of Directors will meet to review the results for 2011 on Monday 12 March 2012 and no longer on Thursday 8 March as previously announced.

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Sibur transfers its last tyre plant to the Pirelli, Russian Technologies JV

Pirelli & C. SpA and Russian Technologies today finalized the transfer of the Voronezh tyre plant from Russian petrochemical company SIBUR to the Pirelli-Russian Technologies joint venture.

This follows the transfer, also from SIBUR, in December of the Kirov tyre plant. The joint venture has invested a total of 222 million euros in the transfer operations and will spend a further 200 million from 2012 to 2014 on plant improvement and business development. Annual revenues are expected to be around 300 million euros in 2012 and more than 500 million by 2014.

Voronezh will specialize in top-of-the range tyres with an output of 2 million pieces a year in 2012 to reach 4 million in 2014, while Kirov already produces 6.5 million pieces annually. While its production will remain flat, over 60% will be converted to the Pirelli brand.

PIRELLI AND QUFU NORMAL UNIVERSITY SIGN A COOPERATION AGREEMENT

On Wednesday 20 November, Pirelli finalised an important collaboration agreement with the ancient and prestigious Chinese university Qufu Normal.

In particular, we will commit ourselves to supporting 25 deserving and less well-off students in order to help them complete their studies with the sum of RMB 100,000

And that’s not all. With a second project, Pirelli will help the university to keep its China Confucius web site active and support the Confucius Culture Month as a result of a donation of RMB 60,000.

Our Pirelli China colleagues invited the president of the academy, Ren Tingqi, to our production site in China, together with other important members of the university: the delegation visited our PCR factory as it did the steel cord plant and its members were really enthusiastic about the working environment, comprising high level employees and many sophisticated machines.

The meeting was an excellent opportunity during which to explain who we are and to present ourselves as one of the major tyre manufacturers, active throughout the world; a company that has in its DNA sustainability as much as it pays care and attention to its social responsibilities.

We expect to return to Qufu University as early as January: who knows, perhaps it will be there that we shall be able to find our talented new young people.