Rome
29 October 2018, 20:15 pm

We hereby announce that, on the basis of the agreement between Hitachi Ltd., Hitachi Rail Italy Investments S.r.l. and Elliott Management Corporation, Elliott International, L.P., Elliott Associates, L.P. and The Liverpool Limited Partnership for the purchase by Hitachi Rail Italy Investments S.r.l. of the entire shareholding in Ansaldo STS S.p.A. now held by Elliott International, L.P., Elliott Associates, L.P. and The Liverpool Limited Partnership (“Elliott Funds”), today the directors Rosa Cipriotti, Michele Alberto Fabiano Crisostomo and Fabio Labruna, irrevocably resigned from the office as director of Ansaldo STS S.p.A. (“The Company”).

Please note that the resignations will be effective starting from November 2, 2018 and subject to completion of the sale of all the Company’s shares, currently held by Elliott Funds, to Hitachi Rail Italy Investments S.r.l., a company entirely and indirectly controlled by Hitachi Ltd.

The Company also reminds that Rosa Cipriotti, Michele Alberto Fabiano Crisostomo and Fabio Labruna were selected from the list submitted by Elliott Funds to the Shareholders’ Meeting held on May 13, 2016.

It should also be noted that the resigning directors are independent and non-executive and do not hold any office within Ansaldo STS’ Committees and, as far as the Company is aware, do not own any Ansaldo STS’ shares.

Furthermore, on the basis of the above mentioned agreement and subject to completion of the sale of all the shares of the Company currently held by Elliott Funds, Alessandra Gavirati and Marco Taricco, in their capacity as candidate directors of the Company, by virtue of the list of candidates submitted by Elliott Funds to the Shareholders’ Meeting held on May 13, 2016, irrevocably withdrew their availability to be appointed as directors of the Company in substitution of the possibly resigning directors Rosa Cipriotti, Michele Alberto Fabiano Crisostomo and Fabio Labruna, selected from the same list,

No indemnities or other benefits are due to the directors following the resignation from their office.