Seri Industrial S p A : The Board authorizes related party transactions

MUNICATOTAMPA

PRESS RELEASE

Seri Industrial S.p.A.:

The Board authorizes related party transactions

San Potito Sannitico 4 October 2022 - Seri Industrial S.p.A. ("the Company") announces that, as part of the reindustrialization program of the Pozzilli site ("the Pozzilli project") to be carried out through the company P2P S.r.l. ("P2P") - 50% owned by Seri Plast S.p.A. ("Seri Plast") and 50% by Unilever Ventures Holdings B.V. ("Unilever"), the subsidiary Seri Plast has requested to the related party Pmimmobiliare S.r.l. ("PM") the availability to acquire the property in Pozzilli, currently owned by the Unilever Group, in place of its subsidiary P2P, conditioned on the acceptance of Unilever itself and, consequently, to lease it to P2P.

The purchase waiver transaction has been considered as a "related party transaction1" of "major significance" pursuant to the provisions of the Procedure for Related Party Transactions, most recently updated by the Company on August 28, 2021, in compliance with the requirements of Consob Regulation No. 17221 of March 27, 2010.

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.

At the same time, a committee composed of three directors, the majority of whom are independent pursuant to the TUF and the Corporate Governance Code, issued an opinion on the lease transaction to be signed between PM and P2P which constitutes a "transaction between related parties" of "minor significance.

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 Vittorio Civitillo, Andrea Civitillo and Marco Civitillo abstaining, and arranging that the subsidiary P2P negotiate an annual rental fee of euro 450 thousand compared to the amount of euro 525 thousand considered appropriate in the opinion issued by the committee. After receiving Unilever's acceptance to PM's takeover of the purchase of the property on the same terms as already agreed, the Company will proceed to publish the Disclosure Document prepared in accordance with Annex 4 of the same Regulations and pursuant to Article 114, paragraph 5, of Legislative Decree 58/1998.

For more information about the Pozzilli project, please refer to the press releases issued on March 21, 2021 and October 28, 2021.

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 profiles PM is a related party as it is a company 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 59.92% owned by Seri Industrial, which, in turn, directly holds 100% of the share capital of Seri Plast.

Eng. Vittorio Civitillo holds the position of Chief Executive Officer in SERI, the position of Chief Executive Officer in Seri Industrial, the position of President and Chief Executive Officer in Seri Plast, and the position of Chief Executive Officer in P2P; Andrea Civitillo holds the position of Managing Director in Seri Industrial and the position of Chief Executive Officer in Seri Plast and P2P; Marco Civitillo holds the position of Managing Director in Seri Industrial.