Common use of Board of Directors of Pirelli Clause in Contracts

Board of Directors of Pirelli. The New Shareholders Agreement provides that from August 31, 2017 the Board of Directors of Pirelli shall be composed of 14 members, 7 of whom independent and that an additional independent director, to be appointed by the minority shareholders at the first shareholders’ meeting of Pirelli following the Date of Completion of the IPO (May 15, 2018), shall be added to the same board. Following such addition, the New Shareholders Agreement provides that the Board of Directors of Pirelli is composed of 15 members (8 of which are independent) as follows, with candidates of the less represented gender distributed proportionally among the following points (i), (ii) and (iii):

Board of Directors of Pirelli. The New Shareholders Agreement provides that from August 31, 2017 the Board of Directors of Pirelli shall be composed of 14 members, 7 of whom independent and that an additional independent director, to be appointed by the minority shareholders at the first shareholders’ meeting of Pirelli following the Date of Completion of the IPO (May 15, 2018)IPO, shall be added to the same board. Following such addition, the New Shareholders Agreement provides that the Board of Directors of Pirelli is composed of 15 members (8 of which are independent) as follows, with candidates of the less represented gender distributed proportionally among the following points (i), (ii) and (iii):