Pirelli & C S p A : TO REMAIN EXCLUSIVE TYRE PARTNER TO FORMULA 1 UNTIL 2024

Stefano Domenicali, Formula 1 President and Chief Executive Officer:

'The pandemic caused disruption across the world and Formula 1 was not immune from that. We therefore took the necessary measures last year to defer the regulations by one year to 2022. We are very proud of our partnership with Pirelli and grateful to them for their constructive approach to this timing change. Pirelli are very conscious of strategic role that the tyres have in F1 and we know that they are working very hard to make sure that their products will represent the best balance between performance and durability in the new technical context. We look forward to the start of the 2021 season and we are all excited for the new cars and new 18-inch tyres to hit the track under the new regulations in 2022.'

Jean Todt, FIA President:

'I want to thank Formula 1 and Pirelli for their collaboration, flexibility and commitment to our sport during this most difficult period. COVID-19 has presented us with significant challenges across all aspects of our businesses, but by working together in a sensible, pragmatic way, we have been able to ensure that the long term stability and strength of Formula 1 remains undiminished. The shift to 18' wheels and tyres will certainly provide a more exciting image for Formula 1 cars, but it has also presented a significant technical challenge requiring a lot of investment and development on behalf of Pirelli as they continue to deliver tyres that will perform at the highest level. In light of this, and the necessary postponement of the new regulations as a result of the pandemic, it is only logical to extend the supply of tyres accordingly'.

Marco Tronchetti Provera, Pirelli Executive Vice Chairman and Chief Executive Officer:

'The world of motorsport has also had to face up to the difficulties caused by the Covid-19 pandemic, but the FIA and FOM did an extraordinary job to organise a 17-race championship in 2020. We're obviously pleased to have reached this agreement that will extend our presence at the pinnacle of world motorsport until 2024. Pirelli has been alongside Formula 1 for more than 70 years, since the very first race in 1950, and the company continues to invest in the highest technological levels of research and development, as shown by the introduction of 18-inch tyres from next year. Motorsport forms part of our DNA and Formula 1 represents an open-air laboratory that allows us to apply the know-how gained on track into our road car tyres, starting off with the Ultra High Performance range that equips the most prestigious cars in the world'.