Business Results Prompt Salary Raise Decision

Torino, Italy and Dayton, Ohio (June 1, 2022) – In the light of exceptional business results in the first half of 2022, Panini’s Board of Directors has approved to raise salaries between 5% and 15% for its employees who do not participate in the Company’s Executive or Individual Bonus programs, effective June 1. Increases for eligible employees are heavily weighted by how long employees have worked for the Company.

“Panini has a passionate culture of 77 years and our success starts with our employees”

said Richard Kane, Chief Executive Officer.

“Our shareholders are very appreciative of the extraordinary results and sacrifices our employees have made during the very challenging environment created by the pandemic the last couple of years. The rapid rise in inflation to our team members in Europe and the United States however is not a burden we want to see them deal with alone.This commitment in their financial wellbeing is aligned with other recent initiatives in benefits and long-term career development tools so that we retain and attract the best talent in our industry. In addition, it complements the significant investments we are currently making in R&D and Business Development towards delivering unique market offerings later in the year. ”