Resolutions regarding the result for the year and the distribution to shareholders

Dear Shareholders,

In inviting you to approve the financial statements we are submitting to you, we propose to allocate the profit for the year ended 31 December 2019, equal to € 208,488,011.79, as follows:

-        € 10,424,400.59, equal to 5% of profit, to the legal reserve,

-        € 165,787,367.46 to shareholders, corresponding to a unit dividend of € 0.78,

-        € 32,276,243.74 for retained earnings.

The total dividend (coupon no. 21 of € 165,787,367.46, equal to € 0.78 per share, will be paid starting from 24 June 2020 with coupon detachment on 22 June and record date 23 June.

On the date of approval of the financial statements, treasury shares amounted to no. 416,993.