Unieuro S.p.A.: New measures in response to the Covid-19 crisis

PRESS RELEASE

UNIEURO S.P.A.: NEW MEASURES IN RESPONSE TO THE COVID-19 CRISIS

• Social safety nets provided for by the "Cura Italia" Decree activated
• The Chief Executive Officer has waived his salary and the Management have cut their remuneration as a sign of solidarity
• Selective reopening of direct stores - on weekdays and with shorter opening hours - to meet the compelling needs of customers

Forlì, 30 March 2020 - Unieuro S.p.A. (MTA: UNIR), the leader in the distribution of consumer electronics and electric household appliances in Italy, announced today a new package of measures to contain the effects of the health emergency currently underway: these measures complement and extend the actions already announced in recent weeks1.

In light of the company's limited operations and in order to curb the economic and financial impact of the crisis, the Company has agreed with the Trade Unions to apply the extraordinary redundancy fund system (Cassa Integrazione Guadagni in Deroga - CIGD) within the terms enshrined in the "Cura Italia" (Heal Italy) decree passed on 17 March.

Access to the social safety nets will be granted to almost all employees, who will benefit from it in turn from 29 March 2020 and for a maximum of nine weeks, whether consecutive or not. Unieuro has also shown its willingness to pay CIGD employees their June fourteenth month's pay in advance, should the payment of public subsidies be significantly delayed.

As a token of solidarity with the corporate workforce, the CEO Giancarlo Nicosanti Monterastelli also announced the voluntary waiver of his full salary for the months of April and May.

Similarly, the entire company management have decided to reduce their salary by 20% for the Chief Officers and 10% for the other managers.

Finally, Unieuro announced that starting from today a variable but significant number of direct stores will reopen to the public, in order to ensure the availability to customers of the most urgent or necessary items as provided for by the Prime Ministerial Decree of 11 March 2020 and subsequent amendments.

1 See press releases of 13 March 2020 and 18 March 2020.

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The test will not involve the areas of the country that are most affected by the health emergency and will be limited to weekdays and shorter opening hours.

Employees will go back to their jobs only if they volunteer to do so and in numbers strictly necessary to operate the individual store. Each employee's temperature will be taken at the beginning of their shift and they will be provided with the relevant Personal Protection Equipment to carry out their duties safely, including face masks, disposable gloves and sanitizing gel. In this regard, on 20 March Unieuro also signed a health insurance policy that protects all 5,000 employees in the event of Coronavirus infection, regardless of whether they are at work or not.

Entry to the stores will be strictly limited and the number of customers inside shall not exceed the number of employees. In addition, stringent health measures will be taken, including thorough daily cleaning of the premises and compliance with social distancing provisions.

"The situation brought about by the health emergency requires us to manage and balance different needs: the need to ensure the physical and economic well- being of our employees and their families; the compelling needs of customers that sometimes cannot be postponed; the financial soundness of our company".

"After a sober and thorough analysis of the scenario, today we announced measures of great responsibility that simultaneously meet all these needs and hopefully will support us in overcoming the acute phase of the crisis".

"I am personally proud of the great sense of belonging of our people: many store staff have asked us to return to work as soon as possible, the workforce at the Piacenza hub have shown perseverance and dedication, and the Management have reduced their salary as a token of solidarity".

"It is thanks to the value of each one of them that we continue to serve our customers, albeit in a limited manner and with the utmost respect for the safety of all."

"We are here, responsibly."

Giancarlo Nicosanti Monterastelli, Chief Executive Officer of Unieuro.

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Unieuro S.p.A.

Unieuro is the Italian leader in the distribution of consumer electronics and household appliances, thanks to an omnichannel approach that integrates directly operated stores (about 250), affiliated stores (about 260) and the unieuro.it digital platform. The company is based in Forlì, has a central logistics hub in Piacenza and has a staff of about 5,000 employees. Listed on the STAR segment of the Italian Stock Exchange since 2017, Unieuro reported revenues of Euro 2.45 billion in the fiscal year ended at 29 February 2020.

Corporate website: www.unieurospa.com

LinkedIn: www.linkedin.com/company/unieuro

Contacts:
Investor Relations	Media Relations
Andrea Moretti	iCorporate
Investor Relations & Corporate	Arturo Salerni
Communications Director	[phone]
[phone]	Sonia Hason
[phone]	[phone]
[e-mail]	[e-mail]
[e-mail]

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