The Company announces that the ITA Airways Shareholders' Meeting was held yesterday in Fiumicino, under the chairmanship of Antonino Turicchi. The Shareholders' Meeting had on its agenda the renewal of the Board of Directors and the Board of Statutory Auditors, whose mandate had expired upon approval of the Company's 2022 financial statements.

 The Shareholders' Meeting, therefore, proceeded with the appointment of the new Board of Directors, which was reduced from five to three members and is composed as follows: Antonino Turicchi as Chairman, Valeria Vaccaro and Francesco Spada as Advisors. The Board of Statutory Auditors reconfirmed Marina Scandurra as President, Paolo Maria Ciabattoni and Giovanni Naccarato as Statutory Auditors.

 The decision to appoint a Board of three members is consistent with the agreements reached between the Ministry of Economy and Finance and Lufthansa, whereby the German Company, as a result of the subscription of a reserved capital increase, will enter the shareholding structure and appoint two additional members, one of whom will be the CEO.

 This marks another crucial step in the path identified in the business plan of ITA Airways, which has achieved consolidation from a start-up in total public participation and is going through privatisation. This operation, as is well known, is subject to the authorisation of the Directorate-General for Competition.

 Following the Shareholders' Meeting, the ITA Airways Board of Directors approved the mutual termination of the employment relationship with Fabio Maria Lazzerini, former CEO and General Manager of the Company.

 All Lazzerini's operational powers were entrusted to Andrea Benassi, current Chief Network, Fleet and Alliances Officer, who will assume the position of General Manager. In addition, Francesco Presicce, Chief Technology Officer, was appointed Accountable Manager, a role previously held by Lazzerini.

 ITA Airways thanks Frances Vyvyen Ouseley and Ugo Arrigo for their contribution as advisors, and Fabio Maria Lazzerini for his work carried out during the Company's complex start-up phase and the subsequent consolidation to the current results and transition towards its privatisation process, while wishing them all the best for their professional future.