The CAD IT Board of Directors appoints a new non-executive Director by co-option and a temporary Manager charged with preparing the Company's financial reports

Earlier today, in replacement of the recently resigned director, the Board of Directors of CAD IT S.p.A., leader in the Italian financial software market and listed in the STAR segment of Borsa Italiana, appointed, by co-option, in accordance with art. 18 of the Company’s by-laws and with art. 2386 of the Civil Code, Enrique Sacau from the Xchanging Group as non-executive director with experience in the financial business sector.

Enrique Sacau has been appointed as a non-executive and non-independent director on the CAD IT Board of Directors and will not be a member of any internal committee. The newly appointed director, who will hold the position until the next Shareholders’ Meeting, has declared in a  statement made to the Company, not to possess, either directly or indirectly, any CAD IT S.p.A. shares at the date of his appointment.

The new director's curriculum vitae and his statements on: (i) his willingness to accept the position; (ii) the absence of ineligibility and foreclosure conditions; (iii) his possession of the current legal and regulatory requirements, are available on the Company website www.caditgroup.com.

As a consequence of the above mentioned changes, the Board of Directors is now composed of the following members:

• Giuseppe Dal Cortivo, Chairman and Executive Director
• Giampietro Magnani, Vice-chairman and Executive Director
• Luigi Zanella, Vice-chairman and Executive Director
• Paolo Dal Cortivo, Executive Director
• Maurizio Rizzoli, non-executive Director
• Enrique Sacau, non-executive Director
• Francesco Rossi, non-executive and Independent Director
• Lamberto Lambertini, non-executive and Independent Director.

Moreover, the Board of Directors, on the favorable opinion of the Board of Auditors and of the Nominating and Remuneration Committee, has also provisionally appointed Daniele Mozzo as Manager charged with preparing the Company’s financial reports, to cover the entire period of temporary absence, due to health reasons, of Maria Rosa Mazzi, the officially appointed Manager charged with preparing the Company’s financial reports, in consideration of the closely connected role and activities that the former has constantly performed within the Company's administrative area for many years.