Reno De Medici S p A : Resolutions adopted by the ordinary Shareholders’ Meeting

Press release

Information to the public pursuant to CONSOB resolution No. 11971 of May 14, 1999, as subsequently amended and extended

• THE ORDINARY SHAREHOLDERS' MEETING APPROVES THE FINANCIAL STATEMENTS AT
  DECEMBER 31, 2020 AND THE DISTRIBUTION OF A DIVIDEND OF €0.0245 PER SAVINGS SHARE AND OF €0.014 PER ORDINARY SHARE.
• APPOINTMENT OF THE BOARD OF STATUTORY AUDITORS FOR THE THREE-YEAR PERIOD 2021-2023.

Milan, April 29, 2021 - The Shareholders' Meeting of Reno De Medici S.p.A. was held today in Ordinary session, under the chairmanship of the Company's CEO Michele Bianchi.

"The 2020 strong cash generation allowed Reno De Medici to increase by 75% its dividend per ordinary share, bringing it to 1.4 eurocents compared with a 2019 dividend of 0.8 eurocents.

In 2020 as well, Reno De Medici offered its shareholders an attractive return. The 1.4% dividend yield, calculated on the price of €0.970 at December 30, 2020, and the 17.9% price increase reported on the twelve months generated an annual Total Shareholder Return of 19.3%," commented Mr. Michele Bianchi at the end of the meeting.

APPROVAL OF THE 2020 FINANCIAL STATEMENTS AND ALLOCATION OF NET PROFIT

The Shareholders' Meeting approved the Financial Statements of the Company as at December 31, 2020.

In accordance with the Board of Directors' proposal, the Shareholders' Meeting also approved the following allocation of the net profit resulting from the Financial Statements as at December 31, 2020, equal to €22,745,553.06:

• €1,137,277.65 to be charged to the legal reserve pursuant to art. 2430 of the Italian Civil Code;
• €0.0245 as preferred dividend against each savings shares outstanding at the dividend "record date";
• €0.014 as dividend for each ordinary share in circulation at the dividend "record date";
• the remaining profits to be allocated to the "Available Reserve".

The dividend will be paid starting from May 12, 2021, subject to the release of coupon n. 14 on May 10, 2021 and "record date" on May 11, 2021.

APPOINTMENT OF THE BOARD OF STATUTORY AUDITORS

The Shareholders meeting has appointed the Board of Statutory Auditors for the three-year period running from 2021 to 2023 with the following composition:

• Diana Rizzo - Chairman
• Gian Carlo Russo Corvace - Effective Statutory Auditor
• Tiziana Masolini - Effective Statutory Auditor
• Domenico Maisano - Alternate Auditor
• Alessandra Pederzoli - Alternate Auditor

The Board of Statutory Auditors is taken from the two lists presented to the Shareholders' Meeting, the first filled by the majority Shareholder Cascades Inc., owner of a total stakeholding equal to 57.56% of the share capital and the second filled by the Shareholders ANIMA SGR S.p.A., ARCA Fondi SGR S.p.A., Bancoposta Fondi S.p.A. SGR, Eurizon Capital S.A., Eurizon Capital SGR S.p.A., Fideuram Asset Management Ireland, Fideuram Intesa Sanpaolo Private Banking Asset Management SGR S.p.A., Interfund Sicav - Interfund Equity Italy, Mediolanum Gestione Fondi SGR S.p.A., holders of a total stakeholding equal to 2.84622% of the share capital.

The lists obtained a percentage of votes respectively equal to 85.265590% and to 13.461922% of the share capital represented at the Shareholders' Meeting. The Chairman of the Board of the Statutory Auditors - Ms. Diana Rizzo - was appointed from the second list.

All members of the Board of Auditors declared to possess the independence requirements as requested by Article 148 of the TUF and by the new Corporate Governance Code issued by Borsa Italiana.

REMUNERATION REPORT

The Shareholders' Meeting approved the contents of Section I of the Remuneration Report concerning the policy adopted with regard to remuneration of the members of the Board of Directors, General managers and Managers with Strategic Responsibilities and the procedures for adopting and implementing the said policy. The Shareholders' Meeting also cast a favorable vote on Section II of the Remuneration Report concerning compensation paid in financial year 2020.

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Mr. Luca Rizzo, the officer in charge of drafting the Company's accounting documents, declares pursuant to Art. 154-bis,sub-section 2, of Italian Legislative Decree 58/1998 ("Consolidated Financial Law") that the accounting information contained in this press release corresponds to documentary results and to accounting books and records.

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This document is an English translation from Italian. The Italian original shall prevail in case of difference in interpretation and/or factual errors.

For further information
Reno De Medici	Media Relations
Investor Relations Officer	Barabino&Partners
Chiara Borgini	Stefania Bassi, Francesco Faenza
Tel: [phone]	Tel: [phone]
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IR Advisor
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Maria Grazia Mantini
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