Seri Industrial S p A : The Board authorizes related party transactions

MUNICATOTAMPA

PRESS RELEASE

Seri Industrial S.p.A.:

The Board authorizes related party transactions

San Potito Sannitico 20 December 2022 - Seri Industrial S.p.A. (the "Company") informs that today the Board of Directors has authorized the sale of a building for industrial use by the French subsidiary Plastam Europe SaS ("Plastam") to the related party PMImmobiliare S.r.l. ("PM") for a value of euro 500 thousand, conditionally to the leasing of the building to Plastam for 9 years and with an annual rent of euro 90 thousand.

At the same time, the Board of Directors has resolved to sign a framework agreement between the Company and PM that provides the recognition of benefits to the subsidiaries Seri Plast S.p.A. and FIB S.p.A., which have a lease relationship with PM itself. The sale of the building and the framework agreement resulted in an overall positive effect, at a consolidated level, for Euro 2,212 thousand.

The sale transaction and the framework agreement have been considered as "related part transaction1" of "major significance" pursuant to the provisions of the Procedure for Related Party Transactions, most recently updated by the Company on 28 August 2021, in compliance with the requirements of Consob Regulation No. 17221 of March, 27, 2010 ("the Regulation"). The opinion on the interest, convenience and fairness of the relevant terms was issued by a committee composed of two independent directors and a member of the statutory board.

The OPC committee, composed of three directors, the majority of whom are independent pursuant to the TUF and the Corporate Governance Code, has issued an opinion on the lease transaction to be signed between PM and Plastam which constitutes a "transaction between related parties" of "minor significance".

The Board of Directors, after consultation with the committees, has authorized the completion of the above transactions with unanimous vote, including the independent directors, with Vittorio Civitillo, Andrea Civitillo and Marco Civitillo abstaining.

The Company will proceed to publish the Disclosure Document, in the established terms, prepared in accordance with Annex 4 of the Regulation.

Seri Industrial S.p.A. is a company listed on the EXM market of Borsa Italiana. Seri Industrial's mission is to accelerate the energy transition to sustainability and decarbonisation.

The Group operates through two companies: (i) Seri Plast, active in the processing of plastic materials for the battery market, automotive, packaging and thermo-sanitary sector; (ii) FIB, active, through the FAAM brand, in the production and recycling of lead and lithium batteries for traction, industrial, storage and military applications, as well as in the design of plants for the recycling of batteries.

For further information:

Investor Relator

Marco Civitillo

E-mail:[e-mail]

Tel. [phone]

1In relation to the correlation profile, PM is a related party as it is a company 100% owned by SE.R.I. S.p.A. ("SERI"), which is, in turn, owned by Vittorio Civitillo and Andrea Civitillo to the extent of 50.60% and 49.40%, respectively. SERI is owning Seri Industrial at 59.92%, which, in turn, hold the 100% of FIB S.p.A. and Seri Plast S.p.A. that, in turn, holds the 100% of Plastam Europe SaS.

Eng. Vittorio Civitillo holds the position of Sole Director in SERI, Chief Executive Officer in Seri Industrial, Chief Executive Officer and President in FIB and Seri Plast; Andrea Civitillo holds the position of Executive Director in Seri Industrial and Chief Executive Officer in Seri Plast and FIB; Marco Civitillo holds the position of Executive Director in Seri Industrial and in FIB.