Saras S p A : The BoD confirmed Massimo Moratti as Chairman of the Board and Dario Scaffardi as Chief Executive Officer

Saras announces that the Board of Directors confirmed Massimo Moratti as Chairman of the Board and Dario Scaffardi as Chief Executive Officer

Milan, May 20th, 2021: The Board of Directors of Saras SpA following its appointment by the Shareholders' Meeting of May 12th, 2021 confirmed Massimo Moratti as Chairman of the Board of Directors and Dario Scaffardi as Chief Executive Officer and General Manager. The power of strategic direction and, inter alia, to supervise and to assess relevant operations on holdings, companies and branches have been confirmed to the Chairman of the Board of Directors. Powers have been confirmed to the CEO with reference to the ordinary operations, powers to the provision of strategic, industrial, and financial business plan to submit for approval to the Board, as well as the office of supervise the function of the internal control system and risks management.

During the same meeting the Board, pursuant to Code of Corporate Governance published in January 2020 by the Corporate Governance Committee, promoted, inter alia, by Borsa Italiana, considered in practice assessed: (i) the independence requirements pursuant to art. 147-ter, par. 4 and 148, article 3 of "TUF" and the other requirements of the Corporate Governance Code for the Directors Gilberto Callera, Adriana Cerretelli, Laura Fidanza, Francesca Luchi and Monica de Virgiliis (ii) the independence requirements pursuant to art. 147-ter, par. 4 and 148, article 3 of "TUF" held by the Director Isabelle Harvie-Watt.

The Board of Directors appointed Gilberto Callera as Lead Independent Director and appointed the following Committee specifying the components:

• Remuneration Committee, composed by the independent directors Gilberto Callera, Laura Fidanza e Francesca Luchi, also conferred with the main functions of the Related Parties Committee, to be performed whenever necessary pursuant to the Procedure for Related Party Transactions adopted by the Company and the applicable legislation;
• Control and Risks and Sustainability Committee composed by the independent directors Gilberto Callera, Adriana Cerretelli, Laura Fidanza, Isabelle Harvie-Watt and Monica de Virgiliis;
• Steering and strategy committee composed by Massimo Moratti, Angelo Moratti, Dario Scaffardi, Angelomario Moratti, Gabriele Moratti and Giovanni Moratti, with an advisory and support function to the Board of Director in defining strategic business guidelines, also regarding finance, and in drawing the sustainability guidelines.

Lastly, in compliance with the requirements of the Corporate Governance Code, the Board of Directors approved its own Regulations.

GRUPPO SARAS

1. Gruppo Saras, fondato da Angelo Moratti nel 1962 è uno dei principali operatori europei nel settore dell'energia e raffinazione del petrolio. Tramite la Capogruppo Saras SpA e le controllate Saras Trading SA, basata a Ginevra, Saras Energia SAU, basata a Madrid, il Gruppo vende e distribuisce prodotti petroliferi sul mercato nazionale e internazionale. Il Gruppo è inoltre attivo anche nel settore della produzione di energia elettrica attraverso le controllate Sarlux Srl (impianto IGCC) e Sardeolica Srl (parco eolico). Il Gruppo offre poi servizi di ingegneria industriale e di ricerca per il settore petrolifero, dell'energia e dell'ambiente attraverso la controllata Sartec Srl. Il Gruppo Saras conta circa 1.690 dipendenti e presenta ricavi pari a circa 5,3 miliardi di Euro al 31 dicembre 2020 (circa 9,5 miliardi di Euro al 31 dicembre 2019).

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