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| IRELLI PIRELLI & C. S.P.A. BOARD APPROVES CONSOLIDATED RESULTS TO 30 SEPTEMBER 2021 PIRELLI : RESULTS ' GROWTH SUPPORTED BY KEY PROGRAMS OF THE 2021-2022 2025 INDUSTRIAL PLAN PRESS RELEASE 9 - MONTH REVENUES + 28.6 % , ADJUSTED EBIT MARGIN AT 15.0 % AND NET PROFIT AT 236.2 MILLION EURO First 9 months 2021 STRENGTHENING OF HIGH VALUE : IN CAR ≥18 " GROWTH MARKEDLY HIGHER THAN MARKET ( PIRELLI VOLUMES + 31 % , MARKET + 21 % ) SIGNIFICANT GROWTH OF PRICE / MIX : + 10.9 % IN THE THIRD QUARTER AND + 6.3 % IN 9 MONTHS HIGH LEVEL OF CASH GENERATION : +104.3 MILLION EURO NET CASH FLOW BEFORE DIVIDENDS IN THIRD QUARTER - Revenues : + 28.6 % to 3,979.3 million euro ( organic variation + 31.0 % ) . High Value revenues accounted for 71.4 % of total revenues ( 71.2 % in the first 9 months of 2020 ) in line with targets Total volumes grew 24.7 % : High Value volumes + 27.8 % , Car ≥18 " volumes + 31 % ( market + 21 % ) with strengthening of market shares in all Regions . More sustained trend in Car ≥19 " with 38 % growth ( market + 27 % ) Price / Mix : + 6.3 % in the first 9 months of 2021 thanks to price increases and improved product mix , particularly in High Value Adjusted Ebit : + 113.6 % to 598.8 million euro ( 280.4 million in the first 9 months of 2020 ) , with an Adjusted Ebit Margin of 15.0 % ( 9.1 % in the first 9 months of 2020 ) thanks to the contribution of internal levers Net result : +236.2 million euro ( -17.8 million euro in the first 9 months of 2020 ) Net cash flow before dividends : -376.7 million euro , an improvement of 368.6 million euro compared to -745.3 million euro in first 9 months of 2020 Net financial position : -3,714.9 million euro ( -3,258.4 million euro on 31 December 2020 , -4,252.5 million euro on 30 September 2020 ) Liquidity margin : 1,540 million euro on 30 September 2021 , maturities on financial debts guaranteed until the end of first half 2023 Third quarter 2021 Revenues : 1,414.5 million euro , + 10.7 % compared with third quarter 2020 ( organic variation 10.5 % excluding effects of forex / Argentine hyperinflation + 0.2 % ) Price / Mix : + 10.9 % reflecting price increases and improvement of the product and channel mix 1