F.I.L.A.!– FABBRICA!ITALIANA!LAPIS!ED!AFFINI! S.P.A.

DISCLOSURE!DOCUMENT

(pursuant)to Article)1142bis)of)Legislative)Decree 58/98)and)Article)842bis,)paragraph)1)of)the) Regulation)adopted)by)Consob with)Resolution)No.)11971)of)14)May)1999,)and subsequent) amendments and)supplements)

CONCERNING

THE!PERFORMANCE!SHARES!SCHEME 2017:2019 AND THE!ONE:OFF!EXTRAORDINARY!BONUS

BASED!ON!THE!ASSIGNMENT OF!F.I.L.A.!– FABBRICA!ITALIANA!LAPIS!ED!AFFINI!S.P.A. FREE!SHARES

INTRODUCTION

On"21"March"2017, the"Board"of"Directors"of"F.I.L.A."– Fabbrica"Italiana"Lapis"ed"Affini"S.p.A." (FILA or" the Company)," on" the" proposal" of" the" Remuneration" Committee" and" with" the" prior" approval"of"the"Board"of"Statutory"Auditors,"pursuant"to"Article"2389"of"the"Civil"Code,"approved," under the"terms"described"below:

The"proposal"for"a"one2off extraordinary"bonus in"FILA"shares (the extraordinary!bonus)" reserved" for" the" Executive Director" of" the" Company" Dr. Luca" Pelosin, certain" key" management" personnel and managers of" the" FILA" Group named by the" Board" of" Directors" of" the" Company" on" 21" March" 2017" on" the proposal" of" the" Chief" Executive" Officer," and" after having" consulted the" Remuneration" Committee" (the Extraordinary! Bonus! Beneficiaries)." The" proposal" is to" be presented" for" the" approval" of" the" Shareholders'"Meeting"called at"the"registered"office"in Pero"(Milan),"Via"XXV"No."5"on"27" April"2017, at 10:00am,"in"single call (the Shareholders'!Meeting)Z"and"
The" proposal" for" a" share incentive" scheme called" "Performance" Shares"Scheme 2017\ 2019"" (the Scheme)" reserved" for" certain" key" management" personnel and managers of" the"FILA"Group,"named"by the"Board"of"Directors"of"the"Company"on"21"March"2017"on the"proposal"of"the"Chief"Executive"Officer and"after"having"consulted the"Remuneration" Committee" (the Scheme Beneficiaries)," also" to" be" presented" for" the" approval" of" the" Shareholders' Meeting.

This"disclosure document"was"drawn"up"pursuant"to"Article"114*bis of"Legislative"Decree No."58 of"24"February"1998,"and subsequent"amendments and"supplements (the"CFA)"and"Article 84\ bis of" the" Regulation" adopted" by" Consob with" Resolution" No." 11971" of" 14" May" 1999," and subsequent"amendments and"supplements (the Issuers' Regulation or IR*),"also"with"respect"to" the" numbering" of" the" related paragraphs," in" compliance with" the" instructions contained" in" Schedule 7"of"Annex"3A"of the"Issuers' Regulation."

It" should" be" noted" that, for" the" purposes" of" the" detailed" information" contained" herein," the" Extraordinary" Bonus" and" the"Scheme are" to" be" considered as" being "of" specific significance" pursuant" to Article" 114*bis," paragraph" 3," of the" CFA and" Article" 84*bis," paragraph" 2," of" the" Issuers' Regulations.

This disclosure document"is"available"to"the"public"at"the"registered"office"of"FILA,"Via"XXV"Aprile" No." 5," Pero," Milan" at" the" authorised" storage" mechanism" used" by the" Company at ,"on the"website"of"the"Borsa"Italiana"S.p.A."at"www.borsaitaliana.it"and" on"the"company"website"at"www.filagroup.it"(in"the"Investor"Relations"section).

DEFINITIONS

For" the" purposes" of" this" disclosure document," the" terms" listed" below" have" the" following" meaning:

Allocation	The" actual" allocation of" free" Shares" to" each" Scheme Beneficiary after"the"end"of"the"Vesting" Period."
Shareholders'!Meeting	The FILA" Shareholders'" Meeting" called at" the" registered"office"in Pero"(Milan),"Via"XXV"No."5" on" 27" April" 2017," at" 10:00am in" single call to," among" other business," approve" the" Extraordinary"Bonus"and"the"Scheme."
Assignment	The assignment of" the" Right" to" Receive" Free" Shares" to" each Scheme Beneficiary," by" the" Board" of" Directors" and" after" having" consulted" the"Remuneration Committee."
Shares	FILA ordinary"shares."
Bad!Leavers	All cases" involving" the" termination" of" the" Relationship" other" than" the" cases" of" Good" Leavers."
Extraordinary!Bonus Beneficiaries	The"Executive"Director"of"FILA Dr. Luca"Pelosin," 2" Key" Management" Personnel," 6" Management Personnel and"an"employee"of"a"Subsidiary."
Scheme Beneficiaries	5" Key" Management" Personnel" and" 14" Management Personnel," notwithstanding" the" Board" of" Directors'" authority to" possibly" identify" additional"beneficiaries."
Extraordinary!Bonus	The" one2off extraordinary" bonus in" FILA" shares to" be" allocated free" of" charge" to" the" Extraordinary" Bonus Beneficiaries," subject" to" the"approval"of"the"Shareholders' Meeting."
Change!of!Control	(a)" The" acquisition" by" one" or" more" Third\Party" Acquirers"of"the"control"of"the"Company"pursuant" to"Article"93"of"the"CFAZ"(b)"the"acquisition"by"one" or" more" Third\Party" Acquirers of" a" number" of" shares" or" of" a" share" of" a" Subsidiary" or" of" companies" directly" or" indirectly" controlling" the" latter, even"if different"from"the"Company,"overall" higher" than 50%" of" its" share" capital," unless" the" Company" does" not" continue" to" retain control" pursuant"to"Article"2359"of"the"Civil"CodeZ"(c)"the" permanent transfer," for" whatever" reason, to" one" or"more"Third\Party Acquirers"of"the"company"or" of" the business" unit which" the" Beneficiary's"

	Relationship falls"under.
Remuneration Committee	The"Remuneration Committee"established"and" appointed"by the"Board"of"Directors"of"the" Company"in"line"with the"Self\Governance"Code."
Board!of!Directors	The"Board"of"Directors"of FILA."
Subsidiaries!or!Subsidiary!Companies	Without"distinction,"each"of"the"companies that" are from"time"to"time"directly"or"indirectly" controlled by"the"Company,"pursuant"to Article" 2359"of"the"Civil"Code,"with"which"there"is"a" Relationship"with"one"or"more"Beneficiaries."
Date!of!Share!Allocation	With" reference" to" each" Scheme Beneficiary," the" date" of" the" Board" of" Directors'" resolution concerning"the"free"allocation of"Shares to"this Beneficiary."
Date!of!Assignment of!the!Right	With"reference"to"each"Scheme Beneficiary,"the" date" of" the" Board" of" Directors'" resolution concerning" the" identification" of" this Scheme Beneficiary"and"this"beneficiary's"assignment"of" the Right"to"Receive"Free"Shares."
Key!Management!Personnel	Managers"of"the"FILA Group who"have direct"or" indirect authority and" responsibility for" the planning," management and control of" the" Company's activities."
Right!to!Receive!Shares	The" conditional" right," free" and" non\transferable inter)vivos,"to"the"allocation of"Shares."
Management Personnel	Company and" Subsidiary" Employees" who" occupy positions" earmarked" for" the" long\term" business" growth" and" sustainability" of" the FILA Group."
Good!Leavers	The"following"cases"involving"the"Relationship's" termination:" (i)" voluntary" resignations," only" on" the" condition" that" the" Beneficiary" is" in" possession" of statutory pension" requirements" and"has"within"30"days"submitted"an"application for the" respective indemnityZ" (ii)" death" or" permanent"disability.
FILA!Group!or!Group	FILA""and"its"Subsidiary"Companies."
Letter!of!Assignment	The"letter which the"Company"will"send"to"each" Scheme Beneficiary to" communicate" the" assignment"of"the"Right"to"Receive"Shares"and" whose" subscription" and" delivery" to" the" Company" by" the" Scheme Beneficiaries" will" be their full" and" unconditional" acceptance of" this" Scheme."
Basic!Number!of!Shares	The" number" of" shares" obtainable on" the" achievement" of 100%" Performance" Objectives

	for"each"Scheme"Beneficiary."
Performance!Objectives	Performance" Objectives calculated" with" reference"to"the"following"indices:""(i)"Average" ROI"for the"three\year"period 2017\2019"(70%" relative"weighting)"linked"to"the"Business"PlanZ" (ii)" individual" or" business" unit" strategic" objectives"(30%"relative"weighting).
Vesting!Period	The" results measurement" period which" commences on"1"January"2017"and"ends on"31" December" 2019," at" the" end" of" which" the" achievement" of"Performance"Objectives will" be" verified."
Scheme	The" long\term" incentive" scheme" 2017\2019" based" on" FILA" shares" to" be" allocated" free" of" charge"to"the"Scheme Beneficiaries,"subject"to" the"approval"of"the"Shareholders' Meeting."
Business Plan	The" Business Plan" approved" by the" Board" of" Directors"of"the"Company."
Relationship	The" employment" and/or" administration" Relationship in" place between" the" individual Beneficiary" and" FILA or" one" of" its" Subsidiary" Companies."
Issuers' Regulation	The" Regulation" adopted" by" Consob" with" Resolution" No." 11971" of" 14" May" 1999," and subsequent amendments and"supplements."
ROI	The"ratio"between"the"consolidated"EBITDA"and" the" net" invested" capital" as" per the" Business Plan"(cf. pages"90"and"91)."
Company!or!FILA	FILA" S.p.A.," with" registered" office" at" Via" XXV" Aprile"5,"20016"Pero."
CFA	Legislative"decree"No."58"of"24"February"1998," and subsequent"amendments and"supplements."

1. BENEFICIARIES

1.1 The! names! of! the! beneficiaries who! are! members! of! the! financial! instruments! issuer's!board!of!directors!or!of!the!management!board,!the!companies!controlling! the!issuer!and!the!companies!directly!or!indirectly!controlled!by!it

The"Extraordinary"Bonus includes Dr. Luca Pelosin, Executive Director of FILA, among its beneficiaries.

The Scheme is reserved for Key Management Personnel and Management Personnel. No Scheme Beneficiaries are a member of the Board of Directors of the Company.

1.2 Categories!of!employees!or!associate!workers of! the! financial!instruments'!issuer and!such!issuer's!controlling!or!controlled!companies

The"extraordinary"bonus"is"designated"for:

The"Executive"Director"of"FILA, Dr"Luca"PelosinZ
2"Key"Management PersonnelZ
6"Management PersonnelZ"and
An"employee"of"a"Subsidiary Company.

The"Scheme is"reserved"for:

5"Key"Management"PersonnelZ"and
14"Management Personnel,

notwithstanding" the" Board" of" Directors'" authority to possibly" identify additional" beneficiaries.

1.3 Naming!of!persons benefiting!from the!schemes pertaining to! the!groups! referred! to!in!point!1.3(a),!(b)!and!(c)!of!Annex!3A,!Schedule!7!of!the!Issuers'!Regulation

a) The)Issuer's)General)Managers

Not" applicable since" FILA" has" not" appointed" General" Managers as" at" the" date" of" this" disclosure document.

b) Other)key)management)personnel of)the)financial)instruments')issuer)that)is)not)of)a) "smaller) size",) pursuant) to) Article) 3,) paragraph) 1(f)) of) Regulation No.) 17221) of) 12) March) 2010,) in) the) case wherein they) have) received higher) total) remuneration (obtained) by) adding) up) monetary)remuneration and) emoluments based) on) financial) instruments) during)the)financial)year when)compared)to)the)higher total)emoluments paid)to)the members of)the) board) of) directors) or)the)management) board) and)to)the) General)Managers of)the)financial)instruments')issuer.

Not" applicable" since" FILA" qualifies as" a" "smaller\sized" company" pursuant" to" Article" 3," paragraph"1(f)"of"Regulation"No. 17221"of"12"March"2010.

c) Natural) persons) controlling)the) share) issuer,) who) are) either) employees) or)associate) workers)with the)share)issuer

Not" applicable since no" natural" persons" controlling FILA" are" recipients" of" the" Extraordinary"Bonus"or"the"Scheme.

1.4 Description!and!number indication of!the!beneficiaries,!separated!for!the!categories! listed in!point!1.4(a),!(b)!and!(c)!of!Annex!3A,!Schedule!7!of!the Issuers' Regulation

a) Key)Management)Personnel)other)than)those)listed in)paragraph)3(b))of)paragraph)1.3

Not" applicable" since" FILA" qualifies" as" a" "smaller\sized"" company" pursuant" to" Article" 3," paragraph"1(f)"of"Regulation"No."17221"of"12"March"2010.

b) In) the) case) of) "smaller2sized" companies,) pursuant) to Article) 3,) paragraph) 1(f)) of) Regulation) No. 17221) of) 12) March) 2010,) the) aggregate) listing of) all) the) key) management)personnel)of)the)financial)instruments')issuer

At"the"date"of"this"disclosure document:

2"Key"Management"Personnel are"Extraordinary"Bonus Beneficiaries,"in"addition" to"the"Executive Director"Dr. Luca"PelosinZ
5"Key"Management"Personnel"are"Scheme Beneficiaries.""
c) Other)potential)categories)of)employees)or)associate)workers for)which)differentiated) features) of) the) scheme were) provided) (such) as) executives,) managers,) employees,) etc.))

There" are no" employee categories" provided" with" differentiated features" of" the" Extraordinary"Bonus.

Furthermore, there"are"no"employee"categories"provided"with"differentiated"features"of"the" Scheme within"the"individual"remuneration"systems.

2. REASONS!FOR!THE!ADOPTION!OF!THE!SCHEMES

2.1 Objectives to!be!achieved through!the!schemes' assignment

The"Extraordinary"Bonus"is"designed to"reward"significant efforts"made"by"certain Company" managers with"higher"corporate"seniority,"who"have"played"a"key" role"in"the"Group's"path" toward"growth"and"development,"from"the"merger"by"incorporation"of"FILA in"Space"S.p.A."\ which"took"place"in"May"2015"– to\date.

The" scheme's" adoption" is" designed" to align" the" interests" of management with" those" of" shareholders,"to" reward"the" achievement" of"Business Plan targets and"to" retain" strategic" personnel"for"the"implementation"of"the"business"development"plan"and the"Group's growth.

2.1.1 Additional!information

The" reasons" and" criteria" on" which" the" Company" has" established" the" ratio between" the" assignment of"the"Extraordinary"Bonus"and"other"components"of"the"overall"remuneration" are"attributed,"on"the"one"hand,"to"facilitate the goals of"employee"retention referred"to"in" the"previous"paragraph"2.1"and,"on"the"other,"to"pay an"overall"benefit"to"those"concerned" which is"aligned"with"market"practices."

The"free"Share" allocation to"Extraordinary"Bonus"Beneficiaries"will"take" place" in" a" single" payment"after the"date"of"the"Shareholders' Meeting."With"this"allocation, the"Extraordinary" Bonus"shall"be"deemed"to"be"depleted.

The"Scheme is"included in"the"range of"instruments"used"by"the"Company"to"integrate"the" fixed" component" of" the" remuneration" package" of" strategic" resources" through" variable" components"based"on"certain performance"objectives,"according"to"a"best"market"practices" approach."

The"Scheme is"spread"over a"medium"to"long\term"time horizon."In"particular,"this"period" was" considered as the"most"appropriate"to achieve"the"incentive"and"retention"objectives" pursued"by"the"Scheme itself.

2.2 Key!variables,!also!in!the!form!of!performance!indicators, considered!for!the!shemes'! assignment!based!on!financial!instruments

With" reference" to" the"Extraordinary" Bonus, the" assignment of the" underlying Shares" is" free,"and"is"not"subject"to"the"achievement"of performance"objectives or" related"to"other" key"variables."

With"regard"to"the"Scheme,"the"Right"to"Receive"Shares"is"subject"to:

The retention"of"the"Scheme Beneficiary's"Relationship on"the"Date"of"the"Share" Allocation," without the" nature" of" the" position" identified" for" the" growth" and" sustainability"of"the Group's"business"having"diminished"as"regards"the"role"held within"the"Company,"the relevant Subsidiary"Company"or the"Group"itselfZ"and"
The"achievement"of"Minimum Performance"Objectives.

The"Scheme's"guidelines"are"set"out"below."The"details"of"the Performance"Objectives" for" each" Scheme Beneficiary" will" be" communicated" to" them" in the" relative" Letter" of" Assignment."

1.	Quantitative!Objective	Achievement" of"the average"ROI"for the"three\year" period" 2017\2019." The" shares to" be" issued to" each" beneficiary" in" the" event" that" the" quantitative"object"is"achieved"are determined"as"follows:
		• Performance lower than"95%:"no disbursementZ"
		• Performance between" 95%" (inclusive)" and" 97.5%:" 50%" disbursement of" the" shares allocated to" the" quantitative" objectiveZ""
		• Performance between" 97.5%" (inclusive)" and" 100%:" 75%" disbursement of" the" shares" allocated to" the" quantitative" objectiveZ""
		• Performance equal" to" or" greater" than" 100%:" 100%" disbursement of the shares" allocated" to" the" quantitative"

		objective."
2.	Qualitative!Objective	Achievement"of"individual"or"organisational"strategic objectives. The" achievement" of" this" objective" entails the" disbursement of" shares according"to"the" weighting and"the" number" of" shares" allocated to this" objective."
3.	Results! measurement! period!(vesting!period)	From"1"January 2017"to 31"December 2019.""
4.	Share!allocation	In" a" single" tranche, following the" measurement" period" referred" to" in" Point"3.

2.2.1 !!More!detailed!information!for!the schemes referred!to!in!Article!84:bis,!paragraph!2,! of!the!Issuers'!Regulation!!

With" reference" to" the"Extraordinary" Bonus," the" assignment of" the" underlying" Shares is" free" and" is not" subject"to"the" achievement" of performance" objectives or related"to" other" key"variables."

With" reference" to" the" Scheme," as" discussed" in" paragraph" 2.2," the Performance" Objectives" are"the"following:" (i)"Average" ROI"for"the"three\year" period 2017\2019" (70%" relative" weighting \ quantitative" objectiveZ" (ii)" individual" or" organisational" strategic" objectives"(30%"relative"weighting) \ qualitative"objective.

Average)ROI)for)the)three2year)period 201722019)(70%)relative)weighting))– quantitative) objective

The"economic and"financial performance indicator"and"associated targets are"linked"to"the" Business Plan."

The" actual"Shares" allocated" to" each"Scheme Beneficiary" in" the" event" of" achieving the quantitative"objective"are determined"as"follows:

%" of" average" ROI" achieved" for" the"	%" Pay\out with" respect" to" the" Basic"
three\year"period 2017\2019	Number"of"Shares"(NBA)
ROI< 95"%	70%"x"0
95%≤"ROI"<""97,5%	70%"x"50%"NBA
97,5%"≤"ROI"< 100%	70%"x"75%"NBA
ROI">"100%	70%"x"100%"NBA

If" the" quantitative" objective" on" the" average" ROI" for" the" three\year" period" 2017\2019" is" achieved:

i. Performance"lower than"95%:"no"disbursementZ
ii. Performance" between" 95%" (inclusive)" and" 97.5%:" 50%" disbursement" of" the" Shares"allocated"to"the"quantitative"objectiveZ
iii. Performance" between" 97.5%" (inclusive)" and" 100%:" 75%" disbursement" of" the"

Shares"allocated to"the"quantitative"objectiveZ

iv. Performance" equal" to" or" greater" than" 100%:" 100%" disbursement" of" the" Shares" allocated to"the"quantitative"objective.

The" quantitative" objective" (average" ROI" for" the" three\year" period" 2017\2019)" will" be" calculated by taking"into"account"the"standardisation"criteria"agreed"upon"with"the"auditors" and"in"line with"the"definitions"stipulated in"the Company's loan"agreements,"a scope of" consolidation" consistent" with" that" referred" to" in" the Scheme," making" reference" to" the" EBITDA"and"taking"the"associated"impact"on"the"capital employed into"account.

Individual) or) organisational) strategic) objectives) (30%) relative) weighting)) 2 qualitative) objective

The"achievement"of"the"qualitative"objective"entails the"disbursement of"Shares according" to"the"weighting and"the"number"of"Shares"allocated to this"objective."

These"objectives"are"defined"for"each"Scheme Beneficiary"in"their"Letter"of"Assignment."

If" the" performance" objectives" achieved" exceed 100%," the" Scheme Beneficiary" will" be" entitled"to"the"allocation of"a"number"of"Shares"that"are"still equivalent"to and"never"more" than"100%"of"the"Basic"Number"of"Shares.

At" the" time" of"Allocation," the" Board" of" Directors has" the authority" to disburse" a" sum" of" money"equal"to"the"value"of"the"number"of"shares"payable"and at their normal"value"to"the" Scheme" Beneficiary," determined" as" per Article" 9" of"Presidential" Decree 917/1986." This authority"is"granted"to"the"Board"of"Directors"only in"cases"in"which"specific"circumstances" relating" to" the" Scheme Beneficiary" and/or" regulatory" or" tax" reasons render," in" the" Company's" reasonable" opinion," the" Share" allocation process more" onerous" for" the" Company"and/or"the"Scheme Beneficiaries,"from"a"regulatory"or"tax"perspective.

2.3 Factors! underlying! the! determination! of! the! extent! of! remuneration based! on! financial!instruments, or!the!criteria!used!for!its!determination

For" the" determination" of" the" number" of" free" Shares" to" be" allocated" to each" of" the" Extraordinary" Bonus"Beneficiaries," the" Company"has"taken the" strategic" importance" of" the" role" and" the" characteristics" of" each" of" the" Extraordinary" Bonus Beneficiaries into" consideration,"including"in"differentiated"terms.

The"total"number"of"Shares"underlying"the"Extraordinary"Bonus"has"been determined"on" the"basis"of"the"mid\market"closing"price"of"the"underlying"security in"the 30"trading days" preceding the"date"of"21"March"2017"(excluded) (equivalent"to"EUR 14.77).

With" reference"to"the"Scheme,"the"total" number" of" shares" underlying"the"scheme itself" has" been determined" on" the" basis" of" the mid\market" closing" price of" the" underlying" security in"the 30"trading"days"preceding the"date"of"21"March"2017"(excluded)"and"takes into account" the" Shares that" could" be" allocated by" the" Board" of" Directors" to" any" additional Scheme Beneficiaries." The" number" of" shares" to" be" allocated to" each" Beneficiary" will" be" determined" by" the" Board" of" Directors," after" the" end" of" the" Vesting" Period."The" shares"will"be"allocated in"a" single"payment,"based"on"the"achievement"of" Performance" Objectives," provided" that the" actual" number" of" Shares" allocated to" each Beneficiary"may"not"exceed"100%"of their"basic"number"of"shares.

The"Performance Objectives are"described"in"the"above"paragraph"2.2.1.

2.4 Reasons! for! any! decision! to! award! remuneration schemes based! on! financial instruments! not! issued! by! the! issuer,! such! as! financial! instruments! issued! by! subsidiaries or!controlling companies!or!third:party companies!with!respect to!the! group's! companiesa! if the! aforesaid instruments! are! not! tradable on regulated! markets, information!on!the!criteria!used to!determine!the!value attributable!to!them

Not"applicable,"since"the"Extraordinary"Bonus"and"the"Scheme are"based"exclusively"on" financial"instruments"issued"by"the"Company."

2.5 Valuations!with!respect!to significant!tax!and!accounting implications that influenced the!definition!of the schemes

No significant" tax" and" accounting" implications" influenced the" definition" of the" Extraordinary"Bonus"or"the"Scheme."

2.6 Prospective support! for the! schemes from the! Special! Fund! for encouraging employee!participation!in! the!companies referred! to!in!Article! 4,!paragraph! 112!of! Law!24!No.!350!of!December!2003

The"schemes covered" by"this"disclosure document" do" not" receive" any" support"from"the" Special" Fund" for" encouraging" employee participation" in" the" companies referred" to" in" Article"4,"paragraph"112"of"Law"No"350"of"24"December"2003.

3. APPROVAL!PROCEDURE!AND!TIMEFRAME!FOR!THE!ALLOCATION OF!FINANCIAL! INSTRUMENTS

3.1 Scope! of! powers! and! functions! delegated to! the! Board! of Directors! by the! shareholders'!meeting!for!the!implementation!of!the!schemes

On" 21" March" 2017," the" Board" of" Directors," on" the" proposal" of" the" Remuneration" Committee" which" met" to" discuss" it" on" 16" March" 2017," resolved" to" present" the" Extraordinary"Bonus"and the"Scheme for"the"approval"of"the"Shareholders'"Meeting.""

The" Shareholders'" Meeting" will" be" asked" to" assign all" the" necessary" and" appropriate" powers"to"the"Board to award the"Extraordinary"Bonus"and"implement the"Scheme.

In"particular, by"way"of"example,"it"will"be"proposed"to"the"Shareholders'"Meeting"that"the" Board"of"Directors"may,"with"the"authority to"delegate:"(i)"identify"additional"participants"to" the"Scheme,"also"determining"the"quantity"of"Shares"to"be"allocated to"each"of"themZ"(ii)" modify" the" Performance" Objectives" upon" which" the" allocation of" Shares will" be" made" conditional in"cases"of"extraordinary transactions,"changes"to"the"corporate"structure"or" changes" to" the" Business" PlanZ" (iii)" establish" any" other" terms and" conditions for" the" allocation"of"the"Extraordinary"Bonus"and"for"the"Scheme's"implementationZ" (iv)"ensure" the"preparation"and/or"finalisation"of"every"necessary"or"appropriate"document"in"relation" to" the" Extraordinary" Bonus" and" the" Scheme," and" perform" all" acts," compliances," formalities" and communications"that are" necessary" or" appropriate"for"the"management" and/or"implementation"of"the"Extraordinary"Bonus"and"the"Scheme,"with"the"authority"to" delegate" its" powers," duties and" responsibilities" with" respect" to" the" execution" and" application"of"the"Extraordinary"Bonus"and"the"Scheme."

The"Remuneration"Committee"performs"consultative"and"advisory functions"in"relation"to" the"Scheme's" implementation," in" accordance" with" the"Self\Governance Code" of"Borsa" Italiana S.p.A.

3.2 Parties!appointed!to!administer!the!schemes and!their!function!and responsibilities

The" authority" to" assign" the" Extraordinary" Bonus" and" to" execute" the" Scheme" will" be" vested" in" the" Board" of" Directors," which" will" be" appointed in" this" regard" by" the" Shareholders'"Meeting."

The"Board"of"Directors"may"delegate"all"or"part"of"its"powers,"duties and"responsibilities to" one" or"more" of" its"members"for the" assignment of"the" Extraordinary" Bonus" and"the" execution"of"the"Scheme."

3.3 Any!existing!procedures! for! the!review!of! the!schemes, also!in!relation! to!potential! changes!in the!basic!objectives

With" reference" to" the" Extraordinary" Bonus," the" free" allocation of" shares to" the" beneficiaries" will" take" place" in" a" single" payment after" the" date" of" the" Shareholders' Meeting."With"this"allocation,"the"Extraordinary"Bonus"shall"be"deemed"to"be"depleted.

As" regards"the"Scheme," subject"to"what" is specified hereunder,"the"Board" of" Directors" will"have"the"authority,"after"having"consulted the"Remuneration"Committee,"to"make any" changes"or"supplements to"the"Regulation,"through"the"most"appropriate"methods that it" considers useful" or" necessary" for" the" best achievement" of" the"Scheme's aims," having" regard"to"the"interests"of"the"Company and"of"the"Scheme Beneficiaries.

In"the"case"of"events"such"as:"

1. Extraordinary"transactions on"the"Company's"share"capital"and therefore,"including" but" not" limited" to," a" reduction in" share capital" due" to losses" through the" cancellation" of" shares," the" Company's" share" capital increases, whether" free" of" charge" or" against" payment," offered" as" options to" shareholders" or" without"option" rights," possibly" also" to" be" settled" by" conferment" in" kind," rearrangement" or" the" splitting"of"Shares which"may affect the"SharesZ
1. Mergers or" spin\offs," the" purchase" or" sale" of" shareholdings," companies" or" business"unitsZ"or"
1. Legislative"or"regulatory"changes"or"other"events"likely"to"affect"the"Rights, Shares" or"the"Company."

The"Board"of"Directors"may,"independently"and"without"the"need"for"further"approval"from" the"Shareholders'"Meeting"of"the"Company, make"all"the"changes"and"supplements"to"the" Scheme that"are"considered"necessary"and"appropriate"to"continue"to"apply"the"Scheme's" essential" and" economic" content, to" the" extent" permitted" by" applicable" regulations," and" after"having"consulted"the"Remuneration"Committee.

If,"during the"Vesting"Period:"

1. A"Change"of"Control should"occurZ
1. A"public purchase offer or a"public exchange"offer concerning"the"Shares"should" be"promotedZ"or"
1. The" listing" of" Shares"on"the"Italian" Stock" Exchange" organised" and"managed" by"

Borsa"Italiana"S.p.A."(MTA)"should"be"revoked,

The"Board"of"Directors"shall"have"the"authority to"grant"the"Scheme Beneficiaries"all"or"part" of"the"Shares in" advance, with" respect"to"the"due" date" provided"for" in"the"Scheme,"also" independently"of"the"actual"achievement"of"Performance"Objectives,"namely, to"provide for" the"Scheme's"early"termination."This"decision will be"binding"on"the"Scheme Beneficiaries.

In"the"event"of"a"significant"revision"of"the Business Plan's"targets and therefore,"including" but" not" limited" to," in" the event of" acquisitions" and" divestitures of" companies" or business" units that"entail"a"new"approval"of"this"Business"Plan"by the"Board"of"Directors, the"latter" shall"have"the"authority"to"propose"and"approve"any"changes"to the"Scheme's objectives"in" order"to"adapt"them"to"the"changes"in"the"Business Plan.

3.4 Description! of! the!methods! used! to determine! the! availability! and! the! allocation!of! financial!instruments!on!which!the!schemes are!based

Both"the"Extraordinary"Bonus"and"the"Scheme provide"for"the"free"assignment of"Shares" to"Beneficiaries.

The" total" number" of" shares" to" be" allocated to" Extraordinary" Bonus" Beneficiaries" is" established" at 100,181" Shares." This" number" was" calculated" on" the" basis" of" the" mid\ market"closing"price"of"the"underlying"security in"the"trading"days"preceding the"date"of"21" March"2017"(excluded) (equivalent"to EUR"14.77).

The"total"maximum"number"of"shares"to"be"allocated to"the"Scheme Beneficiaries"for its execution"is"established"at"94,765"Shares."This"number"was"calculated"on"the"basis"of"the" mid\market" closing" price" of"the" underlying" security in"the" 30 trading"days"preceding the" date" of" 21" March" 2017" (excluded)" and" takes" into" account" the" Shares" that" could" be" allocated by"the"Board"of"Directors"to"any"additional"Scheme Beneficiaries.

On" 21" March" 2017," the" Board" of" Directors" resolved" to" present for the" approval" of" the" Shareholders'"Meeting:

The" proposal" for" the" free" and" indivisible" increase" of" share" capital," pursuant" to" Article"2349,"paragraph"1,"of"the"Civil"Code, for"an"amount"of"EUR"90,314.00, to" be" fully" attributed" to" share capital" through" the" issue" of" 100,181"Shares," without nominal" value and with regular" dividend" rights," to" be" used" for" the Extraordinary" Bonus'"assignmentZ"and"
The" proposal"to" vest"the"Board"of"Directors, pursuant"to"Article" 2443" of"the"Civil" Code," with" the" authority for" the" free" and" indivisible" increase" of" share" capital," including in" several" tranches," pursuant" to Article" 2349," paragraph" 1," of" the" Civil" Code," for" a maximum amount of" EUR" 86,000.00" to" be" fully" attributed" to" share" capital"through"the"issue"of a"maximum"of"94,765"Shares,"without nominal"value and"with"regular"dividend"rights,"to"be"used"for"the Scheme."

The"Company"will"make"the"Shares available"to" (i)"the"Extraordinary"Bonus Beneficiary," after"the"date"of"the"Shareholders' Meeting,"and"(ii)"the"Scheme Beneficiary"in"accordance" with"the"terms"and"conditions"set"out"in"the"Scheme.

3.5 The!role!performed by!each!director!in!determining!the!schemes'!characteristicsa! any!conflicts!of!interest for!the!directors concerned

The" Remuneration" Committee" was" involved" in" the" various" phases for" the" study" and"

structuring"of"the"Extraordinary"Bonus"and"the"Scheme."

The" Board" of" Directors," having" taken" note" of" the" proposal" made" by" the" Remuneration" Committee," has" approved" the proposed Extraordinary" Bonus" and" the" Scheme to" be" presented"for the"approval"of"the"Shareholders' Meeting."

One"of the"Extraordinary"Bonus Beneficiaries is"the"Executive"Director"of"the"Company, Dr." Luca"Pelosin."The"Board"resolution"approving"the"proposal"of"the"Extraordinary"Bonus"was, therefore, adopted"in"compliance"with"the"provisions"of"Article"2391"of"the"Civil"Code.

3.6 For!the!purposes!of!the!requirements!in!Article!84:bis,!paragraph!1,!the!date!of!the! decision!taken!by!the!relevant body!to!propose!the!approval!of!the!schemes to!the! shareholders'! meeting and! the! potential! proposal! of! the potential! remuneration! committee

On" 16" March" 2017," the" Remuneration" Committee" proposed" the" adoption" of" the" Extraordinary"Bonus"and"the"Scheme to"the"Board"of"Directors.

On" 21" March" 2017, the" Board" of" Directors, on" the" basis" of" the" Remuneration" Committee's" recommendations, approved" the" Extraordinary" Bonus" and the" Scheme's" proposal,"as"well"as"their"presentation"to"the"Shareholders' Meeting for"approval.""On"the" same" date, the" Board" of" Directors," with" the" prior" approval" of" the" Remuneration" Committee,"also"approved"this"disclosure document"and"the"directors'"explanatory report" on"the"schemes as"per"Article"114*bis* of"the CFA.

3.7 For! the!purposes!of!the! requirements!in!Article! 84:bis,!paragraph! 5(a),! the!date!of! the! decision! taken! by! the!relevant body!for!the! allocation of!financial!instruments! and! this! body's! potential! proposal! drawn! up! by! the! potential remuneration! committee

The"Shareholders'" Meeting, in" which the" proposal" for" the" approval" of" the" Extraordinary" Bonus"and"the"Scheme will"be"presented, is"scheduled"for"27"April"2017.

The" free" Share" allocation underlying" the" Extraordinary" Bonus" to" Extraordinary" Bonus Beneficiaries" will" take" place" in" a" single" payment after" the" date" of" the" Shareholders' Meeting.

As" regards" the"Scheme," on" the" Date" of" the"Share" Allocation," the" Company's"Board" of" Directors"will"determine"the"number"of"Shares"to"be"paid"to"each"Scheme Beneficiary"in" accordance"with the"criteria"specified"in"this"disclosure document."

The"information"required"by"Article"84*bis*,"paragraph"5(a)"of"the"Issuers'"Regulation"is not" currently"available, and"will"be"provided"during the"implementation"of"the"schemes that"are" the"subject"of"this"disclosure document.

3.8 Market!price recorded!on!the!aforementioned!dates!for!the!financial!instruments!on! which!the schemes are!based,!if!traded!on!regulated!markets

The"official"Share"price"was"EUR"15.97"and"EUR"16.20"respectively,"on 16"March"2017" and" 21" March" 2017 when" the" Remuneration" Committee" and" the" Board" of" Directors respectively,"met"to"examine"the"proposals for"the"Extraordinary"Bonus"and"the"Scheme

to"be"presented to"the"Shareholders'"Meeting.

The"Share"price"at"the"time"of"the"Extraordinary"Bonus"allocation and"at"the"date"of"the Share" Allocation will" be" communicated" according" to" the" procedures" and" timeframes" specified by"Article"84*bis*,"paragraph"5(a),"of"the"Issuers'"Regulation."

3.9 In!the!case!of!schemes based!on!financial!instruments!traded!on!regulated!markets,! in! what! ways and! according! to! which! procedures the! issuer! takes the! possible! overlap!in! time!into!account when!establishing!the! timeframes! for! the! allocation of financial instruments!to implement!the!schemes,!between:

(i) This! allocation or! any! decisions! taken! in! this! regard! by! the! Remuneration! Committeea! and! (ii)! the! disclosure of! any! relevant! information!pursuant! to Article! 114,! paragraph! 1a! for! example,! in! the! case where such! information! is:! (a)! not! already! disclosed! and! capable of positively! influencing the market quotations,! or! (b)!already disclosed!and!capable!of!adversely!influencing the!market quotations

The" execution" of" the" schemes under" this Disclosure Document" will" take" place" in" full" compliance"with"the"disclosure obligations"imposed"on"the"Company,"in"order"to"ensure" the"transparency"and"homogeneity"of"information"to"the"market,"as"well"as"in"compliance" with"the"procedures"adopted"by"the"Company.

4. CHARACTERISTICS!OF!THE!FINANCIAL!INSTRUMENTS!GRANTED

4.1 Description!of!the structure!of!the schemes

A"total"of"100,181"free"Shares"will"be"granted"to"Extraordinary"Bonus Beneficiaries.

A"total"of"94,765"free"Shares"will"be"granted"to"Scheme Beneficiaries.

4.2 Specification!of!the schemes'!effective!implementation period,!also with!reference!to any different!cycles!provided

With" reference"to"the"Extraordinary"Bonus, Shares"will"be"allocated to"each"Extraordinary" Bonus Beneficiary in a"single"payment and"free"of"charge"after"the"date"of"the"Shareholders' Meeting.

With" reference"to"the"Scheme,"the"Board"of"Directors"will"determine the"actual"number"of" Shares" to" be" allocated to" each" Beneficiary" in" a" single" payment" on" the" achievement" of" Performance"Objectives,"after the"end"of"the"Vesting"Period,."

The"Company"will"provide"the"number"of"determined"Shares"to"the"Scheme Beneficiaries"by" no"later"than"the"60th"calendar"day"following"the"approval"of"the 2019"Annual"Accounts for" the"last"year"of"the"Vesting"Period.

4.3 The!Scheme's!Timeframe

Please"refer"to"what"is"discussed in"the"previous"paragraph"4.2."

4.4 Maximum!number!of!financial!instruments!including!in!the!form!of!options,!allocated in!each!fiscal!year!in!relation!to!named!individuals!or!specified!categories

The"Extraordinary"Bonus"envisages"the assignment of"a"total"of"100,181"free"Shares"in"a" single"payment.

The" Scheme provides" for" the assignment of" a" total" maximum" number" of" 94,765" free" Shares." This" number" takes" into" account" the" Shares that" could" be" allocated to" any" additional"Scheme Beneficiaries"as may"be"identified"by"the"Board"of"Directors.""

The"Scheme does"not"provide"for"a"maximum"number"of"shares"to"be"allocated in"a"fiscal" year."

4.5 The! scheme's! implementation! procedures! and! clauses, specifying! whether the! actual! assignment! of! instruments! is! subject! to! meeting! certain conditions! or! the! achievement!of!specific results,!including!performance:relateda!description!of!such! conditions!and!results

As" regards" the" Extraordinary" Bonus" and" the" Scheme's" implementation" procedures" and" clauses," please" refer" to" what" is discussed in" the" individual" points" of" this" Disclosure Document.""

With"specific"reference"to"the"Scheme,"it should"be"noted"that after"the"end"of"the"Vesting" Period,"the"Board"of"Directors"will"determine"the"actual"number"of"Shares"to"be"allocated to"each"Scheme Beneficiary on"the"achievement"of"Performance"Objectives, according"to" the"criteria"set"out in"the"previous"paragraph"2.2.1.

4.6 Details! of! any!restrictions! on! the availability! of! the instruments granted or! on!the! instruments!resulting from! the! exercise! of!the!options,! with! particular! reference! to! the periods within!which!the!subsequent!transfer!to!the!company!or!to!third!parties! is!permitted or!prohibited!

Not" applicable," since" there" are" no" restrictions" on the transfer" of" Shares that" will" be" assigned to"Extraordinary"Bonus Beneficiaries and"Scheme Beneficiaries."

4.7 Description! of! any! termination conditions! for! the! assignment! of schemes if! the! beneficiaries! conduct! hedging! transactions! that! neutralise! any restrictions on! the! sale!of!the allocated financial!instruments,!including!those in!the!form!of!options,!or! the!financial!instruments!resulting from!the!exercise!of!such options

Not"applicable," since"there"are"no"termination"conditions"in"the" case"where"Extraordinary" Bonus"Beneficiaries"or"Scheme Beneficiaries"conduct hedging"transactions.

4.8 Description!of!the!effects of!the!employment!relationship's!termination

The"Shares"underlying"the"Extraordinary"Bonus"will"be"allocated to"Extraordinary"Bonus" Beneficiaries"in"a"single"payment and"free"of"charge, after"the"date"of"the"Shareholders' Meeting." Therefore," no" effects" arising from" the" termination" of the" Extraordinary" Bonus" Beneficiaries' employment relationship is"envisaged."

With" reference" to" the" Scheme," since the" right" to" receive" the shares is" genetically" and" functionally" linked to" the" continuation" of" the Relationship" between" the" Scheme Beneficiaries" and"the" Company or" its" Subsidiaries,"the"following" provisions" will" apply"in" the"event"of the"Relationship's termination,"unless"a"more"favourable"decision"is"taken"for" the"Scheme Beneficiaries"by the"Board"of"Directors.

If"the"Relationship"is"terminated due"to"a"Bad"Leaver during"the"Vesting"Period"or,"in"any" case,"prior"to"the"delivery"of"the"Shares,"the Scheme Beneficiary"will"permanently"and"fully" lose"the"right"to"receive"the allotted Shares.

If"the"Relationship"is"terminated"due"to"a"Good"Leaver"during"the"Vesting"Period"or,"in"any" case, prior"to"the"delivery"of"the"Shares,"the"Scheme Beneficiary"(or"his"heirs)"may retain" the" right"to" receive" a" pro\rata quantity" of Shares" allocated before"the"Termination"Date," based"on the"incontestable valuation of"the"Board"of"Directors"on"the"level"of"achievement" of"Performance"Objectives."It"is"understood"that"the"verification of"the"objectives'"level"of" achievement" will" be" conducted with" reference" to" the" last" approved" annual" financial" statements" and"that"the" pro\rata quantity will" be" determined" by"taking"the"fiscal" year"as" the"reference"calculation"unit.

Finally,"it"is"understood"that"if"the"Relationship"is"transferred to"another"Group"company" and/or" if" the" Relationship" is" terminated with" the" simultaneous establishment" of" a" new" Relationship" within" the" Group," always" in" the" capacity" of"Scheme Beneficiary," the" same person will"retain, mutatis)mutandis,"any"right"granted"by"this"Scheme.

4.9 Details!of!any!other!causes!for!the!schemes'!cancellation

There" are" no causes" envisaged" for" the" cancellation" of" the" Extraordinary" Bonus" or" the" Scheme."

4.10 Reasons! for! the! possible! provision! of! the! Company's "redemption"! of! financial! instruments!covered!by! the!schemes,!arranged pursuant! to!Articles!2357!et&seq.!of! the!Civil!Codea!the!beneficiaries!of!the!redemption, specifying!whether!it!only!applies! to! particular! categories! of! employeesa! and! the! effects! of! the! termination! of! the! employment relationship on the!aforementioned redemption

The right"to"redeem"Shares"is"not"envisaged"by"the"Company.

4.11 Any! loans! or! concessions! due to! be! granted! for! the! purchase! of! the! shares! pursuant!to!Article!2358,!paragraph!3,!of!the!Civil!Code

Not"applicable."

4.12 Valuation!details!on!the!expected!cost for! the!company!as!at! the!relative!allocation date,!as!determinable!on! the!basis!of! the! terms!and!conditions!already!defined,!by! overall!amount!and!in!relation!to!each financial instrument

The"total" expected" cost"for"the"Company" in" relation"to"the"Extraordinary"Bonus" and"the" Scheme is" estimated" at" a" total" amount" of" EUR" 176,314.00" (EUR" 90,314.00" for" the" Extraordinary" Bonus" and" EUR" 86,000.00" for" the" Scheme)," in" addition" to" the" costs" for" consultants."This"amount"was"determined"on"the"basis"of"the"information"available"at"the" date" of" the" Board" of" Directors' approval" of" the" Extraordinary" Bonus" and" the"Scheme's" proposal (which"occurred"on"21"March"2017).

4.13 Details! of! any dilution effects! on the capital! resulting! from the remuneration schemes

The"maximum"number"of"Shares to"be"used for"the"Extraordinary"Bonus" (equivalent to"

100,181"Shares)"will" correspond"to"a"percentage"equal"to"approximately"0.289%"of"the Company's current"share"capital.

The" maximum" number" of" Shares" to" be" used" for" the" Scheme (equivalent to" 94,765" Shares)" will" correspond" to" a" percentage" equal" to" approximately" 0.273%" of" the" Company's"current"share"capital.

4.14 Any! limits! established! for! the! exercise! of! voting! rights and! for! the! assignment! of! dividend rights

No" limits" are" envisaged" for" the" exercise" of" voting" rights and" for" the" assignment" of" dividend"rights inherent"in"the"Shares.

4.15 If the! shares! are! not! traded! on! regulated! markets,! any information useful! for! a! thorough!assessment!of!their!value

Not"applicable since the"shares"are"listed"on"the"MTA.

4.16 Remuneration schemes based!on!financial!instruments

Not"applicable"since the assignment"of"Shares"concerns the Extraordinary"Bonus"and"the" Scheme.

4.17 Table

Table"1"laid"down"in"paragraph"4.24"of"Schedule 7"of"Annex"3A"to"the"Issuers' Regulation" will"be"more"detailed"and"updated"with"the"procedures and timeframes indicated"by"Article" 84*bis*,"paragraph"5(a),"of"the"Issuers'"Regulation.

**REMUNERATIONSCHEMES BASEDONFINANCIALINSTRUMENTS Table1ofSchedule 7ofAnnex3AofConsobRegulationNo.*11971/99**

TheExtraordinarybonus*

		FRAMEWORK 1
Name and# Surname#or# category	Post (to#be# specified#only#for# persons listed#by# name)	Financial#instruments#other#than#stock#options
		Section 2
		Newly?allocated instruments#based#on the#decision: of#the#B.O.D.'s proposal#for#the shareholders'#meeting of#the#relevant body#for#the#implementation#of#the resolution#of#the#shareholders'#meeting
		Date#of#the# relative resolution#of#the# shareholders'# meeting	Type#of#financial# instruments	Number#of# financial# instruments# allocated	Date#of# allocation	Potential purchase#price# of#the# instruments	Market#price on# allocation	Vesting#Period
Luca#Pelosin	Executive# Director# FILA	27#April#2017*	FILA# ordinary# shares	67,690	N.A.	?	N.A.	?
Key# Management# Personnel#(2)		27#April#2017*	FILA# ordinary# shares	6,768	N.A.	?	N.A.	?
Management# Personnel#(6)		27#April#2017*	FILA# ordinary# shares	14,216	N.A.	?	N.A.	?
Employees#(1)#		27#April#2017*	FILA# ordinary# shares	11,507	N.A.	?	N.A.	?

*The\$Shareholders'\$Meeting called\$to approve the\$Scheme was convened\$on\$27\$April\$2017\$in\$a\$single\$call

**Performance*Shares Scheme 2017P2019**

		FRAMEWORK*1
Name#and#	Post#(to#be#specified#	Financial#instruments#other#than#stock#options
		Section 2
Surname#or#	only#for#persons#	Newly?allocated#instruments#based#on#the#decision:
category	listed#by#name)	of#the#B.O.D.'s#proposal#for#the#shareholders'#meeting# of#the#relevant#body#for#the#implementation#of#the#resolution#of#the#shareholders'#meeting
		Date#of#the# relative# resolution#of#the# shareholders'# meeting	Type#of# financial# instruments	Number#of# financial# instruments# allocated#**	Date#of#allocation	Potential# purchase# price#of#the# instruments	Market#price#on# allocation	Vesting#Period
Key# Management# Personnel#(5)		27#April#2017*	FILA# ordinary# shares	50,766	N.A.	?	N.A.	1# January# 2017?31# December# 2019
Management# Personnel#(14)		27#April#2017*	FILA# ordinary# shares	30,461	N.A.	?	N.A.	1# January# 2017?31# December# 2019

* The\$Shareholders'\$Meeting\$called\$to\$approve\$the\$Scheme was\$convened\$on\$27\$April\$2017\$in\$a\$single\$call.

**In\$addition\$to\$13,538\$FILA\$ordinary\$shares\$issued\$to\$take\$into\$account\$any\$additional\$scheme beneficiaries\$who\$could\$be\$identified\$by\$the\$Board\$of\$Directors.