In 2020 the Board of Statutory Auditors met 20 times, duly recording the respective minutes; moreover, the Board of Statutory Auditors had meetings with the Control and Risks Committee and the heads of the different corporate functions – including Internal Audit – with a focus on assessing the adequacy of the internal control and risk management system, and with the external auditors to share information. The Board of Statutory Auditors also met the members of the Supervisory and Oversight Body, of the Boards of Statutory Auditors of the Mondadori Group subsidiaries and the independent auditors in order to exchange information and regulatory updates.

Board of Statutory Auditors

Office Members Term* List** Independence as per Code % attendance rate for meeting of Board of Statutory Auditors Number of other positions held**
Chairman Sara Fornasiero from 24/04/2018
to 31/12/2020		  m X 100.00 7
Standing auditor Flavia Daunia Minutillo from 24/04/2018
to 31/12/2020		  M X 95.00 15
Standing auditor Ezio Simonelli from 24/04/2018
to 31/12/2020		  M  X 95.00 27

Quorum needed to present a slate of candidates at the last appointment: 2.5%
The Company’s applicable minimum ownership stake for shareholders to submit a slate of candidates was determined by Consob Determination no. 44 of 29 January 2021: 2.5%
Number of meetings that took place during the fiscal year: 20

NOTES
* the end date of the term is to be understood as the date of the Shareholders’ Meeting to approve the financial statements for the fiscal year ended 31 December 2020.
** M= member appointed from the list voted by majority; m= member appointed from the list voted by a minority;
*** this column reports the number of positions held by the person concerned as director or statutory auditor pursuant to article 148 bis TUF. The complete list of these positions is published on Consob’s website, in accordance with article 144-quinquiesdecies of the Consob Issuers Regulation. In the Corporate governance report, only the positions held in other listed companies are described in more detail.