{"url_path":"/sec/ntz/10-k/2026/item-16d","section_key":"item-16d","section_title":"Item 16D EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/900391/0001193125-26-226962-index.html","accession_number":"0001193125-26-226962","cik":"0000900391","ticker":"NTZ","issuer_name":"NATUZZI S P A","edgar_url":"https://www.sec.gov/Archives/edgar/data/900391/0001193125-26-226962-index.html","primary_entity_key":"0000900391","primary_entity_name":"NATUZZI S P A"},"word_count":292,"has_tables":true,"body_markdown":"## ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES\n\nThe Company is relying on the exemption from listing standards for audit committees provided by Exchange Act Rule 10A-3(c)(3). The basis for this reliance is that the Company’s board of statutory auditors meets the following requirements set forth in Exchange Act Rule 10A-3(c)(3):\n\n•\nthe board of statutory auditors is established and selected pursuant to Italian law expressly permitting such a board;\n\n•\nthe board of statutory auditors is required under Italian law to be separate from the Company’s board of directors;\n\n84\n\n[Table of Contents](#toc)\n\n \n\n•\nthe board of statutory auditors is not elected by management of the Company and no executive officer of the Company is a member of the board of statutory auditors;\n\n•\nItalian law provides for standards for the independence of the board of statutory auditors from the Company and its management;\n\n•\nthe board of statutory auditors, in accordance with applicable Italian law and the Company’s governing documents, is responsible, to the extent permitted by Italian law, for the appointment, retention and oversight of the work (including, to the extent permitted by law, the resolution of disagreements between management and the auditor regarding financial reporting) of any registered public accounting firm engaged for the purpose of preparing or issuing an audit report or performing other audit, review or attest services for the Company; and\n\n•\nto the extent permitted by Italian law, the audit committee requirements of paragraphs (b)(3), (b)(4) and (b)(5) of Rule 10A-3 apply to the board of statutory auditors.\n\nThe Company’s reliance on Rule 10A-3(c)(3) does not, in its opinion, materially adversely affect the ability of its board of statutory auditors to act independently and to satisfy the other requirements of Rule 10A-3."}