Statement regarding Corona virus outbreak in Italy
> published on 27 February 2020

Dear Customers, Partners and Suppliers,

In the recent days the news about the Italian situation related to the spreading of the corona virus in the country has been quite confusing and often contradictory. We would like therefore to reassure you that all our sites and activities in Italy are running smoothly and according to plan. No disruption has been suffered by our operations, and none is expected given the current situation.

None of the Italian sites and offices of our Group is located into or close to the zones where the authorities have enforced restrictive measures for activities and accessibility and nobody in our workforce lives in the restricted zones.

Nevertheless, we decided to put in place some organizational measures to protect our employees and partners; and therefore we are letting some of the office employees work from home this week, and we are drastically limiting travels, substituting meetings with voice and video conferences. Technologies available to our people allow to get the usual efficiency in our day by day work.

We are carefully monitoring our supply chain, and no delay or disruption related to the Italian outbreak of the corona virus emerged so far; we are continuing to work with our suppliers to secure the continuity of the operations also in the future. We do not source any raw material from the restricted zones, and deliveries are received regularly. Also the impact of the Chinese corona virus situation is limited, due to the mitigation steps that we took in this respect; all normal production volumes are regularly supplied with no interruption.

Production is running in full in all the Italian sites, and the manning of the plants is regular, including the personnel devoted to the maintenance, to the quality control and to the ancillary manufacturing activities. No production volumes got lost for the corona virus so far, and no disruption is foreseen in the future. We can continue to confirm we are perfectly able to supply our customers with the material they need.

To assure that our products are delivered in time to our customers we put in place together with our logistic and transportation partners the same control measures we are applying to our people and we continuously follow the updating of the prescriptions by the Italian and foreign authorities concerning the transportation limitations across the states, so that we can act immediately and continue to serve our customers as usual. So far, we can confirm we can deliver everywhere in Europe with the usual efficiency and lead time.

For sake of clarity, If anything limiting our current capacity to produce and serve the market arose, thanks to our network of European sites we have alternative plans to continue to supply our customers. Should anything happen in this sense, we will immediately contact you for the setup of alternative sources. In the meantime, we will continue to carefully monitor the events connected with this unpredictable situation that may have repercussions and impact on our business and our commercial relationships.

Thanking you for your attention and understanding,

Best regards