Zignago Vetro S p A : Remuneration Report 28 07 2022

Remuneration Policy and Report

in accordance with Article 123-ter of the CFA and 84-quater of

the Issuers' Regulation

Issuer: Zignago Vetro S.p.A.

Website: www. zignagovetro.com

Date of approval of Report: 21 June 2022

	Contents
Website: www. zignagovetro.com ...........................................................................................................................	1
Contents................................................................................................................................................................	2
GLOSSARY .........................................................................................................................................................	3
SECTION I...........................................................................................................................................................	4
2.	Appointments and Remuneration Committee ..............................................................................................	6
3.	Policies and objectives .................................................................................................................................	7
4.	Director Remuneration ...............................................................................................................................	13
5.	Committee Remuneration...........................................................................................................................	13
6.	Remuneration policy for Independent Directors ........................................................................................	14
7.	Remuneration policy for Executive Directors ............................................................................................	14
8.	Remuneration policy for Senior Executives ...............................................................................................	15
9.	Malus and Clawback ..................................................................................................................................	16
10.	Non-monetary benefits ...........................................................................................................................	16
11.	Clause for the maintenance in portfolio of financial instruments...........................................................	16

12. Effects of the termination of the relationship on the rights assigned within the framework of the

incentive plans based on financial instruments ..................................................................................................	17
13. Remuneration for members of the Board of Statutory Auditors ............................................................	17
14. Exceptional circumstances .....................................................................................................................	17
SECTION II .......................................................................................................................................................	19
FIRST PART ......................................................................................................................................................	19
The values of compensation, per item, as per the Compensation Policy approved during the reporting year are
as follows:...........................................................................................................................................................	19
1. BOARD OF DIRECTORS' FEES .............................................................................................................	19
2. BOARD OF STATUTORY AUDITORS FEES........................................................................................	26
3. REMUNERATION OF SENIOR EXECUTIVES .....................................................................................	26
SECOND PART.................................................................................................................................................	27
TABLE 1: Remuneration of the members of the Board of Directors, Board of Statutory Auditors ..................	27
and General Managers and Senior Executives ...................................................................................................	27
TABLE 2/A: Shareholdings of the Board of Directors, Board of Statutory Auditors and General Managers ..	28
TABLE 2/B: Shareholdings of other Senior Executives Investee Company Zignago Vetro S.p.A. ..................	29
TABLE 3: Monetary incentive plans in favour of members of the Board of Directors, General Managers and
other Senior Executives......................................................................................................................................	30

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GLOSSARY

Shareholders' Meeting: the Shareholders' Meeting of the Issuer.

Borsa Italiana: Borsa Italiana S.p.A.

Corporate Governance Code: the Corporate Governance Code for listed companies approved in July 2018 by the Corporate Governance Committee.

Civil Code: the Italian Civil Code.

Board of Statutory Auditors: the Board of Statutory Auditors of the Issuer.

Appointments and Remuneration Committee: the committee for remuneration and appointments established within the Board of Directors.

Board or Board of Directors: the Board of Directors of the Issuer.

Issuer or the Company: Zignago Vetro S.p.A.

2021: the financial year ending December 31, 2021.

Issuers' Regulation: Consob Regulation No. 11971/99 and subsequent amendments and supplements.

Report: this Remuneration Policy and Report, prepared in accordance with Article 123-ter of the CFA and 84-quater of the Issuers' Regulation.

By-Laws: the By-Laws of Zignago Vetro S.p.A.

CFA: Legislative Decree 58/1998 and subsequent amendments and supplements.

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SECTION I

1. Introduction

The Company draws up and applies a general remuneration policy which attracts, motivates and retains individuals possessing the professional standards required to achieve Group targets.

The policy was developed on the basis of a clear and transparent process and in which the Shareholders' Meeting, the Board of Directors, the Board of Statutory Auditors and the Appointments and Remuneration Committee all play a central role.

1. Shareholders' Meeting
   On remuneration, and as per Article 17.9 of the By-Laws, upon the appointment of Directors the Shareholders' Meeting determines the compensation to be paid to those Directors for the period of their mandate, including by establishing a total amount determined in accordance with Article 2389, paragraph 3, of the Civil Code.
   Pursuant to Article 123-ter, paragraph 3-bis of the CFA, the Shareholders' Meeting resolves on the first section of the Report, which describes remuneration policy for members of the Board of Directors, General Managers, and other Senior Executives as defined by the Board of Directors (on the proposal of the Appointments and Remuneration Committee). It also expresses a non-binding advisory opinion on the second section of the Report, which provides an adequate illustration of each of the items making up remuneration and analytically describes the compensation paid in 2021.
   Lastly, the Shareholders' Meeting resolves on any compensation plans based on shares or other financial instruments for members of the Board of Directors, employees and consultants, including Senior Executives, pursuant to Article 114-bis of the CFA.

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1. Board of Directors
   As regards remuneration, the Board of Directors:
2. • establishes internally an Appointments and Remuneration Committee;
   • defines and re-evaluates, where necessary, and on the proposal of the Appointments and Remuneration Committee, the remuneration policy for Directors and Senior Executives;
   • determines the remuneration of Senior Directors, after consulting the Board of Statutory Auditors and on the proposal of the Appointments and Remuneration Committee;
   • approves the Report, which is prepared in accordance with Article 123-ter of the CFA;
   • prepares, with the support of the Appointments and Remuneration Committee, any compensation plans based on shares, options or other financial instruments, and submits these for the approval of the Shareholders' Meeting in accordance with Article 114-bis of the CFA;
   • implements any compensation plans based on shares or other financial instruments, with the assistance of the Appointments and Remuneration Committee by proxy of the Shareholders' Meeting.
3. Board of Statutory Auditors

As regards remuneration, the Board of Statutory Auditors plays a consultative role. It formulates its opinion where required by current legislation, and expresses its opinion on proposals for the remuneration of Directors holding special offices as per Article 2389, paragraph 3 of the Civil Code and Article 17.10 of the By-Laws.

1. Appointments and Remuneration Committee
   The remuneration policies for Senior Directors, both concerning the fixed part and the variable part, are proposed annually by the Appointments and Remuneration Committee and submitted for the approval of the Board of Directors of the Company, following approval by the Board of Statutory Auditors. For further information on the role of the Appointments and Remuneration Committee, see the following paragraph.

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