Seri Industrial S p A : The Board authorizes the renewal of lease agreements, already in place with related parties

MUNICATOTAMPA

PRESS RELEASE

Seri Industrial S.p.A.:

The Board authorizes the renewal of lease agreements, already in place with related parties

San Potito Sannitico 30 January 2022 - Seri Industrial S.p.A. (the "Company") informs that, today, the Board of Directors authorized the signing of new lease agreements, with novative effects compared to the previous ones, with the related party Pmimmobiliare S. r.l. ("PM") by the subsidiaries FIB S.p.A. ("FIB") and Seri Plast S.p.A. ("Seri Plast"), and with Azienda Agricola Quercete a r.l. ("AAQ") by the Company.

The definition of the new contracts is aimed at simplifying their administrative and accounting management.

The three new contracts will have same terms and conditions, including durations, and will cover all the industrial complexes already leased by FIB and Seri Plast, and their respective subsidiaries, and the offices used by the Company.

The contracts will have a duration of 4 years and will be automatically renewed for the duration of a further 4 years, unless terminated.

The annual rents, in continuity with those of the previous relationships, are equal to Euro 2,038 thousand for Seri Plast, Euro 3,513 thousand for FIB and Euro 92 thousand for the Company. As in previous contracts, a security deposit of three monthly payments is envisaged.

The transaction has been considered as "related part transaction" 1 of "major significance" 2 pursuant to the provisions of the Procedure for Related Party Transactions, most recently updated by the Company on 28 August 2021, in compliance with the requirements of Consob Regulation No. 17221 of March, 27, 2010 ("the Regulation"). The opinion on the interest, convenience and fairness of the relevant terms was issued by a committee composed of two independent directors and a member of the statutory board.

The Board of Directors, after consultation with the committees, has authorized the completion of the above transactions with unanimous vote, including the independent directors, with the related party directors Andrea Civitillo and Marco Civitillo abstaining.

The Company will proceed to publish the Disclosure Document, in the established terms, prepared in accordance with Annex 4 of the Regulation.

Seri Industrial S.p.A. is a company listed on the EXM market of Borsa Italiana. Seri Industrial's mission is to accelerate the energy transition to sustainability and decarbonisation.

The Group operates through two companies: (i) Seri Plast, active in the processing of plastic materials for the battery market, automotive, packaging and thermo-sanitary sector; (ii) FIB, active, through the FAAM brand, in the production and recycling of lead and lithium batteries for traction, industrial, storage and military applications, as well as in the design of plants for the recycling of batteries.

For further information:

Investor Relator

Marco Civitillo

E-mail:[e-mail]

Tel. [phone]

1In relation to the correlation profile, PM and its wholly owned subsidiary AAQ, are related parties as PM is 100% owned by SE.R.I. S.p.A. ("SERI"), which is, in turn, owned by Vittorio Civitillo and Andrea Civitillo, to the extent of 50.60% and 49.40% respectively. SERI is 56.41% owned by Seri Industrial which, in turn, directly holds 100% of the share capital of FIB and Seri Plast. Mr Vittorio Civitillo holds the position of Sole Director in SERI and the position of CEO in Seri Industrial; Marco Civitillo holds the position of Executive Director in Seri Industrial; Andrea Civitillo holds the position of Executive Director in Seri Industrial. In addition, Vittorio Civitillo holds the position of Chairman and CEO in both FIB and Seri Plast; Andrea Civitillo is the CEO in the aforementioned companies and Marco Civitillo is Executive Director in FIB.

2The applicable countervalue index is 2.562% for Seri Plast, 4.417% for FIB and 0.116% for the Company. The overall index for the three contracts is 7.095%