B&C Speakers S p A : 2021-04-01 Managing Director Simone Pratesi resigns

PRESS RELEASE

B&C Speakers S.p.A.:

Bagno a Ripoli, (Florence District, Italy), April 1st 2021 - B&C Speakers announces that the managing director Simone Pratesi has submitted resignation from the office of Director and Managing Director of the Company, with effect from the date of March 31, 2021, due to his personal and professional commitments that he believes no longer compatible with the role played in B&C Speakers.

The Company expresses its gratitude to Simone Pratesi for the extraordinary commitment in all these years in all his assignments, and wishes him the best for his future professional path.

The Chief Executive Officer Lorenzo Coppini will ensure the continuity of the activities carried out by resigning Director until the next decisions of the Board of Directors or of the Shareholders' Meeting called for April 29, 2021 to resolve, among other things, on the renewal of the Administrative Body.

It should be noted that (i) the resigning Director was not qualified as an Independent Director, pursuant to the legislative and regulatory provisions in force; (ii) to the knowledge of the Company, and on the basis of the information available, he no longer holds shares in the Company and (iii) he is not entitled to any right to compensation or to other benefits resulting from the termination of his office, except for the Severance Indeminity, as illustrated over the years in the various Reports on the Remuneration.

B&C Speakers S.p.A.

B&C Speakers S.p.A. is an international leader in the design, production, distribution and marketing of professional electro-acoustic transducers (the main components in acoustic speakers for music, commonly referred to as loudspeakers), supplied mainly to professional audio-system manufacturers (OEM). With around 160 employees, approximately 10% of which are assigned to its Research and Development Department, B&C Speakers carries out all design, production, marketing and control activities at its offices in Florence and Reggio Emilia for the brands of the Group: B&C, 18SOUND and CIARE. Most of its products are developed according to its key customers' specifications. B&C Speakers also operates in the US and Brazil through two subsidiaries carrying out commercial activities.

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