The Board of Statutory Auditors

Remuneration of the auditing body is determined by the Shareholders’ Meeting, as a fixed annual amount. In 2012, when renewing the Board of Statutory Auditors, the gross annual fixed compensation of its Chairman was set at 75,000 Euros, and that of its members at 50,000 Euros.

For the Statutory Auditor appointed to the Supervisory Body, the Board of Directors, following its renewal, established a gross annual compensation of 25,000 Euros.

The Statutory Auditors are also entitled to reimbursement of expenses incurred in performing their role.

In line with best practices, there is an insurance policy with the name of D&O (Directors & Officers) Liability for civil liability with regard to corporate third party, of General Managers, Executives with strategic responsibility, Senior Managers and Executives in the performance of their functions, designed to indemnify Pirelli from charges arising from related compensation, resulting from provisions established in the applicable national collective employment contract and from rules of mandate, excluding cases of fraud and extreme negligence.