The Board of Directors of Saras SpA following its appointment by the Shareholders' Meeting of May 12th, 2021 confirmed Massimo Moratti as Chairman of the Board of Directors and Dario Scaffardi as General Manager. The power of strategic direction and, inter alia, to supervise and to assess relevant operations on holdings, companies and branches have been confirmed to the Chairman of the Board of Directors. Powers have been confirmed to the CEO with reference to the ordinary operations, powers to the provision of strategic, industrial, and financial business plan to submit for approval to the Board, as well as the office of supervise the function of the internal control system and risks management. During the same meeting the Board, pursuant to Code of Corporate Governance published in January 2020 by the Corporate Governance Committee, promoted, inter alia, by Borsa Italiana, considered in practice assessed: the independence requirements pursuant to art. 147-ter, par. 4 and 148, article 3 of 'TUF' and the other requirements of the Corporate Governance Code for the Directors Gilberto Callera, Adriana Cerretelli, Laura Fidanza, Francesca Luchi and Monica de Virgiliis the independence requirements pursuant to art. 147-ter, par. 4 and 148, article 3 of 'TUF' held by the Director Isabelle Harvie-Watt. The Board of Directors appointed Gilberto Callera as Lead Independent Director and appointed the following Committee specifying the components: Remuneration Committee, composed by the independent directors Gilberto Callera, Laura Fidanza e Francesca. Luchi, also conferred with the main functions of the Related Parties Committee, to be performed whenever necessary pursuant to the Procedure for Related Party Transactions adopted by the Company and the applicable legislation; Control and Risks and Sustainability Committee composed by the independent directors Gilberto Callera, Adriana Cerretelli, Laura Fidanza, Isabelle Harvie-Watt and Monica de Virgiliis; Steering and strategy committee composed by Massimo Moratti, Angelo Moratti, Dario Scaffardi, Angelomario. Moratti, Gabriele Moratti and Giovanni Moratti, with an advisory and support function to the Board of Director in defining strategic business guidelines, also regarding finance, and in drawing the sustainability guidelines.