SINOCHEM GROUP AND CHEMCHINA PLANNING FOR STRATEGIC RESTRUCTURING
On 23 January 2020, Pirelli & C. S.p.A. (the “Company”）received a notification letter from China National Chemical Corporation Ltd. (“ChemChina”), the Company’s first largest shareholder, informing the Company that Sinochem Group Co., Ltd. (“Sinochem Group”) and ChemChina are planning for a strategic restructuring. Details of the restructuring plan and its implementation are subject to relevant approval and regulatory procedures.
This announcement is made in order to ensure timely and fair disclosure of information and to safeguard the interest of investors. The Company will strictly follow the information disclosure requirements, continue to pay attention to the progress of the above matter, and perform the information disclosure obligations in a timely manner in accordance with the requirements of relevant laws and regulations.