Elica : Board Of Directors Of Elica S.p.A. Appoints Antonio Recinella As Chief Executive Officer And Cristina Scocchia As A Member Of The Internal Control Committee And The Remuneration Committee

PRESS RELEASE

BOARD OF DIRECTORS OF ELICA S.p.A. APPOINTS ANTONIO RECINELLA AS CHIEF EXECUTIVE OFFICER AND CRISTINA SCOCCHIA AS A MEMBER OF THE INTERNAL CONTROL COMMITTEE AND THE REMUNERATION COMMITTEE Fabriano, April 28, 2017 - The Board of Directors of Elica S.p.A., the Parent Company of a Group that is the leading manufacturer of kitchen range hoods, meeting under the chairmanship of Francesco Casoli:

• appointed Antonio Recinella as Chief Executive Officer of Elica S.p.A.;

• assessed the director Antonio Recinella as not independent;

• assessed the independence, to the extent of its knowledge, of the director Cristina Scocchia, considering her independent both in accordance with Article 148, paragraph 3 of the CFA (restated in Article 147-ter, paragraph 4 of the CFA) and Article 3.C.1. of the Self-Governance Code for listed companies;

• in addition appointed Cristina Scocchia, independent/non-executive director, to the Appointments and Remuneration Committee and the Internal Control and Risk Management Committee.

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The Elica Group has been present in the cooker hood market since the 1970's, is chaired by Francesco Casoli and led by Antonio Recinella and today is the world leader in terms of units sold. It is also a European leader in the design, manufacture and sale of motors for central heating boilers. With over 3,600 employees and an annual output of over 19 million units, the Elica Group has eight plants, including in Italy, Poland, Mexico, Germany, India and China. With many years' experience in the sector, Elica has combined meticulous care in design, judicious choice of material and cutting edge technology guaranteeing maximum efficiency and reducing consumption making the Elica Group the prominent market figure it is today. The Group has revolutionised the traditional image of the kitchen cooker hood: it is no longer seen as simple accessory but as a design object which improves the quality of life.

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