Parmalat : The Board of Directors verifies that the independent Directors meet the independence requirements, appoints Yvon Guerin Chief Executive Officer and establishes the Board Committees

Milan, May 9, 2016 - The Board of Directors of Parmalat S.p.A., meeting today under the chairmanship of Gabriella Chersicla, carried out an assessment to determine the independence of its Directors elected by the Shareholders' Meeting on April 29, 2016. Based on the declarations provided by the Directors and the information available to the Company, the following Directors qualified as independent pursuant to Article 148, Section 3, of Legislative Decree No. 58/1998, Article 3 of the Corporate Governance Code of Borsa Italiana and Article 37 of the Market Regulations adopted by the Consob with Resolution No. 16191 of October 29, 2007, as amended: Pier Giuseppe Biandrino, Nicolò Dubini, Angela Gamba, Umberto Mosetti and Elena Vasco.

Gabriella Chersicla qualified as independent pursuant to Article 148, Section 3, of the TUF.

In addition, the Board of Statutory Auditors, acting pursuant to Article 8.C.1. of the Corporate Governance Code, verified that all of its members qualified as independent also in accordance with the criteria set forth in Article 3.C.1. of the abovementioned Code with regard to Directors and communicated this information to the Board of Directors.

The Board of Directors appointed Yvon Guérin, already General Manager and a Company Director, Chief Executive Officer, providing him with all of the powers necessary for the exercise of his office and named him Director Responsible for the Internal Control System. Yvon Guérin indicated that he did not own any Company shares.

The Board of Directors then appointed the members of the Board Committees.

More specifically, the following Directors were appointed: Pier Giuseppe Biandrino (independent), serving as Chairman, Nicolò Dubini (independent) and Angela Gamba (independent) to the "Control and Risk Committee". Consistent with the provisions of the Procedure Governing Related-party Transactions, the Control and Risk Committee also serves in the capacity as Committee for Related-party Transactions. Elena Vasco (independent), serving as Chairman, Nicolò Dubini (independent) and Angela Gamba (independent) were appointed to the "Nominating and Compensation Committee". Lastly, the Board of Directors approved the regulations governing the activities of the Board Committees.

The Board of Directors, having been informed that Legislative Decree No. 25/2016 implementing the new Transparency Directive (Directive No. 2013/50/EC) had gone into effect, resolved to publish on a voluntary basis an Interim Management Statement that will provide disclosures regarding the Group's performance and a breakdown of sales revenues by geographic area and product division, reserving the right to reconsider this decision, taking also into account changes in the relevant regulatory framework.

The Board of Directors also modified the Company's financial calendar, scheduling the approval of the Interim Management Statement for May 24, 2016 (in lieu of May 13, 2016).

Company contacts:

Press Office external.communication@parmalat.net

Investor Relations l.bertolo@parmalat.net

www.parmalat.com