The Board of Directors of Pirelli & C. SpA (“Pirelli”) met today in Milan and retained Deutsche Bank and Goldman Sachs International for the role of financial advisors, to support the Board with the considerations for which it will be called regarding the transaction between Camfin S.p.A., China National Chemical Corporation (“ChemChina”) and China National Tire & Rubber Corporation Ltd (“CNRC”) announced on March 22nd, 2015.

The Board also appointed Deutsche Bank and Goldman Sachs as independent experts in accordance with and as an effect of article 39 of the Regolamento Emittenti (Issuers’ Code) adopted by Consob, effective from the moment of the announcement of the “launch” of the mandatory public tender offer for the totality of the ordinary capital of Pirelli and the voluntary public tender for the totality of Pirelli’s savings shares

According to what was announced on March 22nd, 2015, the public tender offer will be promoted by a newly constituted company (“Bidco”), indirectly controlled by ChemChina and CNRC, following the completion of the acquisition of the stake held by Camfin of Pirelli’s share capital. Pirelli’s independent directors further announced to the Board that, for the opinion that they will be required to give in accordance with article 39-bis, 2° paragraph, Regolamento Emittenti, they will be supported by Citigroup Global Markets Ltd as an independent expert. The indication of their respective advisors by the Board of Directors and the independent directors took place at the conclusion of a process of selection and verification of the requisites of independence and professional qualification.