LETTER TO STAKEHOLDERS

Dear Stakeholders,

On January 15, 1885, Wilson "Snowflake" Bentley, an American photographer, made history as the first person in the world to photograph a snowflake. In 40 years of study he documented more than 5,000 different types, proving for the first time that no two flakes are ever identical to each other. Each of these perfect little creations of nature has its own essence that makes it unique and inimitable.

I like to imagine our businesses in the same way, each different, each with its own characteristics, history, and people.

It is precisely this uniqueness that we at Comer Industries strive every day to preserve, with our choices, our unconventional approach, our concrete commitment to all our stakeholders, and our willingness to make a difference to preserve our uniqueness.

We live in complex times. A fascinating, sometimes paradoxical complexity, certainly to be understood and analyzed. We live in an era of fast – very fast – change. A changing, uncertain, challenging context. But also a time of great opportunity and even greater responsibility. We are living in a historical period in which now more than ever the contribution of businesses with their uniqueness and inherent ability to look ahead and, before others, think ahead by laying the groundwork for solutions that anticipate the challenges of tomorrow is considered indispensable.

A tomorrow that asks us to be present on the front lines alongside the people who work in our factories every day, alongside the local community that is part of our roots and will continue to shape our history, alongside the planet, which today more than ever is asking every single person for a maximum commitment to its preservation.

We at Comer Industries want to do our part and have a tangible impact on our people and the surrounding environment. And there are really many sustainability initiatives that our Company has put in place.

Commitment To People

Over the past year we have published an Integrated Human Rights Policy drafted on the basis of a risk assessment conducted at Group sites.

We decided to consolidate a globally extended structural teleworking policy with benefits in terms of work-life balance and environmental impacts.

We performed supply chain due diligence on compliance, human rights and sustainability based on the requirements of the Supply Chain Act of German law, the most advanced regulatory standard in the field.

We also promoted inclusive leadership through membership in the Valore D network, making use of training and discussions on Diversity and Inclusion issues.

Commitment To The Planet

At the environmental level, we are continuing with the energy consumption reduction program initiated at the Italian and German sites through the gradual renewal of the machine inventory and the introduction of machines with reduced energy consumption.

In 2022 we integrated sustainability performance monitoring and reporting between Comer Industries and Walterscheid and contributed to sustainable mobility through the development of products for electric vehicles, with innovative content in terms of weight reduction, lubrication and noise.

We have also promoted sustainable mobility by adding hybrid and electric models to the Company fleet and creating areas at Italian sites equipped with dual charging stations for electric cars.

After the important transaction involving Walterscheid, 2022 also marked the entry into the electrification market. An important step toward environmental sustainability and product innovation.

In January 2023 we founded e-comer, our new green-tech division that was created following the acquisition of Benevelli and Sitem. Once again, not limiting ourselves to good intentions but deploying investments, vision, and projects that can reconcile the growth of our enterprise with initiatives that truly benefit the world we live in.

Our Future Commitment

By 2023 we want to complete the process of integrating the management system by incorporating all the newly acquired entities, laying the foundation for the establishment of a medium- to long-term global sustainability strategy.

Over the next few months we will continue to invest in energy efficiency projects for the Group's processes through the introduction of the latest generation of energy-efficient robotic cells. We will overhaul all painting and heat treatment processes with a view to reducing the environmental impact at the Sohland and Rockford sites, respectively.

We will also build a water-based, environmentally friendly paint plant at the new Bangalore plant in India.

The thermal equipment at the Reggiolo assembly site will also be made more efficient through the installation of high-efficiency boilers and control sensors, and we will extend the installation of electric car charging stations at overseas sites.

2023 will be a year of more milestones as we strive to develop more technological, more sustainable and more innovative products to meet an increasingly demanding market. We are ready, and once again we want to make a difference, to be unique in the market, to grow with awareness and respect for everything that revolves around our world and thanks to which we are today a Group of international standing.

We are already aiming for new goals, new ideas to grow our business both economically and in terms of Sustainability. We want to have a positive impact on all who live in or near our businesses while preserving our Company and our uniqueness. In short: "Together, to remain unique."