CPL CONCORDIA COMPANY THE NEW GOVERNANCE BOARD OF DIRECTORS

Board of Directors

The Board of Directors is CPL's governing body. It represents the Shareholders Assembly by which it is elected during ordinary meetings, and which decides its remuneration and relative responsibilities. It was renewed on 29 April 2015, and consists of 7 members, including 2 external non-Shareholders. The Board of Directors is responsible for all the activities necessary for achieving the business purpose, and is therefore vested with the powers of the company's ordinary management, including the implementation of the Assembly's resolutions, the drafting of the budgets and final statements, and the preparation of the annual and multi-year programmes.

The board members are appointed for 3 years, all starting and ending on the same date, and may be elected for a maximum of 3 terms of office (9 years), even non-consecutive.

Composition of the Board of Directors

Mauro Gori

Chairman

External-independent

Paolo Barbieri

Vice Chairman

Partner

Elio Cirelli

Managing Director

External-independent

Giuseppe Bandini

Board member

Partner

Alessandro Panazza

Board member

Partner

Bruno Grispino

Board member

Partner

Andrea Cavazza

Board member

Partner