Ferretti Group — Board/Management Information 2024

Sep 4, 2024

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

FERRETTIGROUP

Ferretti S.p.A.

(Incorporated under the laws of Italy as a joint-stock company with limited liability)

(Stock Code: 09638)

VOLUNTARY ANNOUNCEMENT

RESIGNATION OF SENIOR MANAGEMENT

This announcement is made by Ferretti S.p.A. (the "Company", together with its subsidiaries, the "Group") on a voluntary basis.

The Company announces that Mr. Stefano de Vivo ("Mr. de Vivo") decided to leave from his positions as Chief Commercial Officer of the Group and Managing Director of Wally.

Mr. de Vivo has chosen to fully devote himself to his Family Office by assuming the role of Chief Executive Officer, commencing from November 1, 2024. He will remain involved in the Group through a technical consultancy for the development of the Wally Sail business.

The Group will implement its existing succession plan in respect of Mr. de Vivo's resignation, who is working closely with the Chief Executive Officer and the Chief HR Officer of the Company to facilitate this transition.

The Company also confirms that Mr. de Vivo's resignation will not have any material adverse impact on the business operation of the Group.

Mr. de Vivo has confirmed that he has no disagreement with the board of directors of the Company (the "Board"), and there is no other matter in relation to Mr. de Vivo's departure which needs to be brought to the attention of the shareholders of the Company.

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The Company would like to express its sincere gratitude to Mr. de Vivo for his valuable contribution to the Company during his tenure.

By order of the Board
Ferretti S.p.A.
Mr. Alberto Galassi
Executive Director and Chief Executive Officer

Hong Kong, September 3, 2024

As at the date of this announcement, the Board comprises Mr. Alberto Galassi and Mr. Xu Xinyu as executive Directors; Mr. Jiang Kui, Mr. Piero Ferrari, Ms. Jiang Lan (Lansi) and Mr. Zhang Quan as non-executive Directors; and Mr. Stefano Domenicali, Mr. Patrick Sun and Ms. Zhu Yi as independent non-executive Directors.

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