22-03-2016

AlmavivA Contact on the statements by the Government

Rome, 22 March 2016 – AlmavivA Contact has welcomed the statements by the Ministry of Labor and the Ministry for Economic Development demonstrating the renewed will, also after the formal commitments institutionally undertaken with the company in December 2014, to remedy the serious irregularities and proven distortion that, over the years, has affected the industry in general and the Company in particular.

This satisfaction, together with the ensuing and desirable prospect of a more stable and rule-abiding market, however, cannot exempt the Company from its duty to engage in a process of reorganization. This responsibility, moreover, is also tied to the recent further significant worsening of economic performance, despite the social shock absorbers and other measures put into place, and to the Directors’ duty to protect the Company’s assets, as well as employment.

The reorganization process includes discussions with the trade unions and the institutional parties, which will undoubtedly represent a good opportunity for examining the situation and substantiating any possible solutions for safeguarding employment, as required by the law. In any case, the Company is willing to discuss these matters, like it has always done, as part of its corporate culture.