Pirelli & C — Capital/Financing Update 2018

Jan 22, 2018

Informazione Regolamentata n. 0206-7-2018		Data/Ora Ricezione 22 Gennaio 2018 17:54:06	MTA
Societa'	:	PIRELLI & C.
Identificativo Informazione Regolamentata	:	98198
Nome utilizzatore	:	PIRELLISPAN03 - Bastanzio
Tipologia	:	REGEM
Data/Ora Ricezione	:	22 Gennaio 2018 17:54:06
Data/Ora Inizio Diffusione presunta	:	22 Gennaio 2018 17:54:07
Oggetto	:	PIRELLI: SUCCESSFULLY CONCLUDES LAUNCH OF 5-YEAR BOND ISSUE FOR 600 MILLION EURO
Testo del comunicato

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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA AND JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

PRESS RELEASE

PIRELLI: SUCCESSFULLY CONCLUDES LAUNCH OF 5-YEAR BOND ISSUE FOR 600 MILLION EURO

THE ISSUE, WITH A YIELD 110 BASIS POINTS ABOVE THE REFERENCE RATE, WILL OPTIMIZE DEBT LENGTHENING MATURITIES AND REDUCING COSTS

Milan, 22 January 2018 – Pirelli today launched and successfully concluded the placement with international institutional investors of an unrated bond loan on the Euromercato for a total nominal amount of 600 million Euro, duration 5 years, at a fixed rate. As evidence of investors' faith in Pirelli, the loan received at closing total orders of 2.4 billion euro from approximately 280 international investors.

The bond issue – part of the company's EMTN (Euro Medium Term Note) program already announced to the market on December 21, 2017 – will allow us to optimize the debt, refinance future maturities for a corresponding amount, lengthen average maturities and lower overall cost.

The bond loan has the following characteristics:

• issuer: Pirelli & C. S.p.A.
• guarantor: Pirelli Tyre S.p.A.
• amount: Euro 600 million
• settlement date: 25 january 2018
• maturity: 25 january 2023
• coupon: 1.375%
• issue price: 99.502%
• redemption price: 100%

The effective yield at maturity will be 1.479% or 110 basis points higher than the reference rate (mid-swap). The bond will be listed on the Luxembourg stock exchange.

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Pirelli Press Office – Tel. +39 02 64424270 – pressoffice@pirelli.com Pirelli Investor Relations – Tel. +39 02 64422949 – ir@pirelli.com www.pirelli.com

This announcement (and the information contained therein) does not constitute or form part of any offer to sell nor ^a solicitation of any offer to buy any securities nor shall there be any offer of securities in any jurisdiction in which such offer or sale would be unlawful. It may be unlawful to distribute this announcement in certain jurisdictions. This announcement does not constitute an offer of securities for sale in the United States, in Australia and in any jurisdiction in which such offer or sale would be unlawful and is not for publication or distribution in any such jurisdictions. The securities referred to in this announcement have not been and will not be registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This announcement is not a public offer of financial products in Italy as per Article 1, para. 1, letter. t) of Legislative Decree no. 58 of February 24, 1998. The documentation relating to the offer has not been/will not be submitted to the approval of CONSOB.