INWIT: severance and termination of office indemnities of the General Manager

INWIT S.p.A. announces that, after preliminary investigation by the Board of Directors with the support of the Nomination and Remuneration Committee, in line with the applicable legal and contractual provisions as well as in accordance with and consistent with the remuneration policy adopted by the Company – approved by the Shareholders’ Meeting of 6 April 2022 available at the following link https://www.inwit.it/en/governance/corporate-governance/remuneration/ – the employment relationship of Giovanni Ferigo as General Manager of the Company was terminated by mutual agreement with effect from midnight on 4 October 2022. The assignment therefore qualifies as an excluded related party transaction, pursuant to Consob Regulation No. 17221/2010 and the relevant Company Procedure. The agreement provides for the payment to Giovanni Ferigo of a total amount of 1,906,000.00 euros gross, including the indemnity in lieu of notice provided for by the relevant National Collective Employment Agreement, in addition to the maintenance of the rights assigned for the current LTI plans that have not yet accrued, on a pro-rata temporis basis, the latter being subject to claw back mechanisms reported in the Company’s Remuneration Report. The above amounts will be disbursed within 30 days of the signing the agreement, in addition to severance indemnity. The Company has not entered into non-competition agreements and, therefore, no consideration will be due in this regard. As of today, Giovanni Ferigo holds 46,929 ordinary shares of INWIT S.p.A. As is known, a Shareholders’ Meeting has been convened for 4 October 2022 at 3:00 p.m. for the renewal of the Board of Directors. The Board of Directors would like to thank Giovanni Ferigo for his important work and the results achieved over the years, wishing him the best of success in his new professional challenges.