Declaration of Consob Regulation

In relation to the obligations set out in Art. 2.6.2, paragraph 15, of the Rules of Borsa Italiana, taking into account the instructions given in Articles 36 and 37 of Consob Resolution 16191, it is hereby declared that no conditions exist which could prevent CIR shares from being listed on the MTA market organized and managed by Borsa Italiana S.p.A., since any foreign subsidiaries not belonging to the European Union, which are of particular importance to CIR (the "Company"): publish their bylaws, the composition and powers of their administrative bodies, according to the legislation applicable to them or voluntarily, and they also provide the Company's independent auditors with all the information necessary for them to carry out the audit of the annual and interim accounts of CIR and they have an administrative accounting system that enables them to provide Management and the auditors of the Company regularly with the income, balance sheet and financial figures needed to prepare the consolidated financial statements; in relation to the fact that it is subject to management and coordination by its parent company COFIDE - Compagnia Finanziaria De Benedetti S.p.A. - the Company has fulfilled all the disclosure obligations stipulated in Article 2497-bis of the Civil Code, it negotiates with clients and suppliers fully independently, has no centralized treasury agreement with COFIDE, on the Board of Directors of the Company, out of a total of 13 directors, 7 have the requisites for independence and are of a sufficient number to guarantee that their judgement has a significant weight when decisions are adopted by the board.