Prysmian Says Outgoing CEO Valerio Battista To Receive Termination Payments

Prysmian SpA PRY:

• OUTGOING CEO VALERIO BATTISTA TO RECEIVE TERMINATION PAYMENTS EQUAL TO 24 MONTHS OF BASE SALARY (EUR 2,200,000), TO BE PAID IN MAY 2024

• WITH REFERENCE TO LONG-TERM INCENTIVE PLAN 23-25, VALERIO BATTISTA MANTAINS RIGHT TO RECEIVE PRORATED NUMBER OF SHARES, TO BE AWARDED SUBJECT TO 2 YEAR LOCK-UP AT END OF 3 YEAR PERFORMANCE PERIOD, SUBJECT TO ACHIEVEMENT OF PREDETERMINED PERFORMANCE CONDITIONS

• WITH REFERENCE TO EXISTING NON-COMPETE AGREEMENT WITH VALERIO BATTISTA, FORESEEING PAYMENT OF EUR 1.32 MILLION FOR ITS 3 YEAR DURATION, PAYMENT AND VALIDITY WILL OCCUR ONLY AFTER TERMINATION OF ANY OFFICE WITHIN GROUP