The current macroeconomic outlook, the instability of financial markets, the complexity of business processes and the continuous evolution of regulations require successful companies to possess a renewed ability to protect and maximize the sources of value, both tangible and intangible, that characterize their business models.

The assessment and prevention of the risks that could affect the Group’s values and objectives, as well as proactively grasp opportunities have always been an integral part of the innovative spirit and professional excellence on which Pirelli’s historical identity was founded. For these reasons, the Board of Directors decided to further strengthen its system of Corporate Governance by introducing a “proactive” risk governance model. This model allows, in a systematic and structured way, the identification, analysis and evaluation of the risk areas that could jeopardize the achievement of strategic goals and, at the same time, provides the Board of Directors and Top Management the tools necessary for making decisions aimed at anticipating and managing the effects of these risks, as well as taking advantages of potential additional opportunities.