Pininfarina, Intragroup financing of EUR 14 million approved

Pininfarina’s Board of Directors has approved an intragroup financing of EUR 14 million from PF Holdings B.V., the company’s controlling shareholder. The financing supports working capital and has a 12-month term from the disbursement date, with an option to renew. Early repayment, in whole or in part, is allowed without penalties. The interest rate is set at 12-month Euribor plus 100 basis points, with interest payments due at the end of each period. No guarantees are required from Pininfarina. The transaction is classified as a related-party transaction of greater relevance under Consob Regulation No. 17221/2010, as the controlling shareholder holds 78.82% of Pininfarina’s share capital and the transaction value exceeds the relevant threshold. The Related-Party Transactions Committee, involved from the outset, issued a favorable opinion on the Company’s interest in the transaction, its convenience, and the fairness of the terms.