In addition to reimbursement for expenses incurred in performing their duties, Directors receive annual fees determined by the Shareholders' Meeting.

The Shareholders' Meeting held on June 12, 2014 decided - pursuant to Art. 2389, subsection 1, of the Civil Code - to establish a maximum of 1,500,000 euros as the total annual remuneration of the Board of Directors.

The Board of Directors has decided to postpone to a future meeting the allocation of that compensation.

Since 2011, Pirelli adopted a Remuneration Policy. The new Policy has been prepared on the basis of Policy application experience last year.

The "Remuneration Policy" contains the guidelines for the remuneration of executive directors and managers.

Herein attached the “Remuneration Policy for 2015".

The Remuneration Statement illustrates the policy that the Pirelli Group implemented during the year 2014 in connection with the remuneration and provides a final statement of it in connection with the different types of beneficiary parties, without prejudice to the obligations of transparency provided by other applicable provisions of law or regulations.

More information in the following document:

Remuneration Statement for the year 2014

During 2014, Pirelli approved the new Three-year (2014-2016) cash Incentive Plan for Pirelli Group Management (the “LTI Plan”). Pursuant to the new LTI Plan, a portion of the bonus has to be determined on the basis of a total shareholder return target calculated as performance of the Pirelli stock and compared with an index composed of selected peers in the tyre sector.

Herein attached the Disclosure Document, which concern with the LTI Plan.

It is possible to consult the documents concerning the remuneration policy evolution by clicking here.

Last Revised: 14 May 2015