37. Piaggio Group companies

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Published on? Financial Report (http://piaggiosemestrale2012.message-asp.com) 4 Home > Printer-friendly PDF 37. Group companies In accordance with Consob resolution no. 11971 dated 14 May 1999, and subsequent amendments (article 126 of the Regulation), the list of the Group?s companies and major investments is provided below. The list presents the companies divided by type of control and method of consolidation. The following are also shown for each company: the company name, the registered, the country of origin and the share in the original currency, in addition to the percentage held by & or by other subsidiaries. In a separate column there is an indication of the percentage of voting rights at the ordinary general meeting should it be different from the equity investment percentage in the share. Company name Parent company Italy 205,941,272.16 euro Subsidiaries Aprilia Racing S.r.l. Aprilia World Service Atlantic 12? Fondo Comune di Investimento Immobiliare Italy 250,000.00 euro & Amsterdam Holland 30,000,000 auth. (6,657,500 subscribed and paid up) euro & Milan Italy 12,101,975.00 euro & Derbi Racing S.L. Barcelona Spain 3,006.00 euro Nacional Motor

Company name Foshan Vehicles Tecnology Research and Development Co Ltd Nacional Motor P & D * Asia Pacific PTE Ltd. Deutschland Gmbh Espana S.L.U. France S. Group Americas Inc Group Canada Inc Group Japan * Company in liquidation Foshan City China 10,500,000.00 rmb Barcelona Spain 1,588.422.00 euro & Italy 416,000.00 euro & Singapore 100,000.00 sin$ Kerpen Germany 250,000.00 euro Alcobendas Spain 426.642.00 euro & Clichy Cedex France 1,209,900.00 euro New York USA 2,000.00 USD Toronto Canada 10,000.00 CAD Group Americas Inc Tokyo Japan 99,000,000.00 yen B.V Company name Subsidiaries Hellas Hrvatska D.o.o. Limited Athens Greece 2,704,040.00 euro Split Croatia 400,000.00 kuna 75 Bromley Kent United Kingdom 250,000.00 gbp 75 99.9996 0,0004

Company name Vehicles Private Limited Vietnam Co Ltd Maharashtra India 340,000,000.00 rupees Breda Holland 91,000.00 euro Hanoi Vietnam 64,751,000,000.00 Dong 99.999997 0.000003 63.5 36.5 PT Indonesia Jakarta Indonesia 4,458,500,000.00 Rupiah 1 99 * Company in liquidation List of companies included in the scope of consolidation with the equity method as of 30 June 2012. Company name Country Share Currency Group di voto Aprilia Brasil Industria de Motociclos Aprilia World Service Holding do Brasil Ltda. Manaus Brazil 2,020,000.00 reais 51 Aprilia World Service Holding do Brasil Ltda São Paulo Brazil 2,028,780.00 reais 99,99995 Group Americas Inc 51 99.99995

Company name China Co. LTD Zongshen Foshan Motorcycle Co. LTD. Country Share Currency Hong Kong China 12,500,000 auth. (12,100,000 subscribed and paid up) USD Group 99,99999 Foshan City China 29,800,000.00 USD 45 China Co. LTD 99,99999 32.5 12.5 di voto List of other significant investments as of 30 June 2012. Company name Country Share Currancy Group Depuradora D?Aigues de Martorelles Soc. Coop. Catalana Limitada Barcelona Spain 60,101.21 euro 22 Nacional Motor Immsi Audit S.c.a.r.l. Mantua Italy 40,000.00 euro 25 & Mitsuba Italia Pont - Tech, & Tecnologia S.c.r.l. T. Societé d'automobiles et Triporteurs Italy 1,000,000.00 euro 10 & Italy 884,160.00 euro 20.44 & Tunis Tunisia 210,000.00 TND 20 22 25 10 20.44 20