Piaggio 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 office, the country of origin and the share capital in the original currency, in addition to the percentage held by Piaggio & C. S.p.A. 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 investment percentage in the share capital.  

List of companies included in the scope of consolidation on a line-by-line basis as of 31 December 2013

Company nameRegistered officeCountryShare capitalCurrency% Group ownershipHeld by%% votes
Parent company: 
Piaggio & C. S.p.A.Pontedera (Pisa) Italy206,026,903.84euro
Aprilia Brasil Industria de Motociclos S.A. ManausBrazil2,020,000.00reais51%Aprilia World Service Holding do Brasil Ltda51%
Aprilia racing s.r.l.Pontedera (Pisa) Italy250,000.00euro100%Piaggio & C. S.P.A.100%
Aprilia World Service Holding do Brasil Ltda.São PauloBrazil2,028,780.00reais99.99995%Piaggio Group Americas Inc99.99995%
Atlantic 12- Property investment fundMilanItaly11,607,234.00euro100%Piaggio & C. S.p.A.100%
Derbi Racing S.L.BarcelonaSpain3,006.00euro100%Nacional Motor S.A.100%
Foshan Piaggio Vehicles Technology Research and Development Co LtdFoshan City China10,500,000.00rmb100%Piaggio Vespa B.V.100%
Nacional Motor S.A.BarcelonaSpain1,588,422.00euro100%Piaggio & C. S.P.A.100%
Piaggio Advanced Design Center Corp.CaliforniaUSA100,000.00USD100%Piaggio & C. S.P.A.100%
Piaggio Asia Pacific PTE Ltd.SingaporeSingapore100,000.00sin$100%   Piaggio Vespa B.V.100%
Piaggio China Co. LTDHong KongChina12,500,000 auth. capital (12,100,000 subscribed and paid up)USD99.99999%Piaggio & C. S.P.A.99.99999%
Piaggio Deutschland GmbHKerpenGermany250,000.00euro100%Piaggio Vespa B.V.100%
Piaggio Espana S.L.U.AlcobendasSpain426,642.00euro100%Piaggio & C. S.P.A.100%
Piaggio France S.A.S.Clichy CedexFrance250,000.00euro100%Piaggio Vespa B.V.100%
Piaggio Group Americas IncNew YorkUSA2,000.00USD100%Piaggio Vespa B.V. 100%
Piaggio Group Canada Inc.TorontoCanada10,000.00CAD100%Piaggio Group Americas Inc100%
Piaggio Group Japan TokyoJapan99,000,000.00yen100%Piaggio Vespa B.V100%
Piaggio Hellas S.A.AthensGreece2,704,040.00euro100%Piaggio Vespa B.V. 100% 
Piaggio Hrvatska D.o.o.SplitCroatia400,000.00kuna75%Piaggio Vespa B.V. 75% 
Piaggio Limited Bromley Kent United Kingdom250,000.00 gbp 100% Piaggio Vespa B.V. Piaggio & C. S.P.A. 99.9996% 
Piaggio Vehicles Private Limited Maharashtra India349,370,000.00 rupee 100% Piaggio & C. S.p.A. 99.9999971% 
Piaggio Vespa B.V. 0.0000029% 
Piaggio Vespa B.V.BredaHolland91,000.00euro100%Piaggio & C. S.P.A. 100% 
Piaggio Vietnam Co Ltd Hanoi Vietnam64,751,000,000.00  dong 100% Piaggio & C. S.P.A. 63.5%
Piaggio Vespa B.V. 36.5% 
PT Piaggio Indonesia Jakarta Indonesia4,458,500,000.00 rupiah 100% Piaggio & C. S.P.A. 1% 
Piaggio Vespa B.V. 99% 

List of companies included in the scope of consolidation with the equity method as of 31 December 2013

Company nameRegistered officeCountryShare capital Currency% Group ownershipHeld by%% votes
Zongshen Piaggio Foshan Motorcycle Co. LTD. Foshan CityChina29,800,000.00 USD45%Piaggio & C. S.P.A. 32.5% 
Piaggio China Co. LTD 12.5% 

List of investments in affiliated companies as of 31 December 2013

Company nameRegistered officeCountryShare capitalCurrency% Group ownershipHeld by%% votes
Depuradora D’Aigues de Martorelles Soc. Coop. Catalana LimitadaBarcelonaSpain60,101.21euro22%Nacional Motor S.A. 22% 
Immsi Audit S.c.a.r.l.MantuaItaly40,000.00euro25%Piaggio & C. S.p.A. 25%
Pont - Tech, Pontedera & Tecnologia S.c.r.l.Pontedera (Pisa) Italy884,160.00euro20.44%Piaggio & C. S.p.A. 20.44% 
S.A.T. Societé d’Automobiles et Triporteurs S.A.TunisTunisia210,000.00TND 20%Piaggio Vespa B.V. 20% 

Information pursuant to article 149-duodecies of the Consob Regulation on Issuers

The following statement was prepared pursuant to article 149-duodecies of the Consob Regulation on Issuers and indicates the fees for 2013 for auditing services and other services provided by the same auditing firm and entities belonging to the auditing firm’s network.

(in euro)Subject providing the serviceRecipientFees for 2013
Auditing servicesPWCParent Company Piaggio & C356,206
PWC networkSubsidiaries391,680
Auditing services CSRPWCParent Company Piaggio & C21,000
Certification servicesPWCParent Company Piaggio & C33,000
PWC networkSubsidiaries42,416
Total 859,202

N.B.: Sums of subsidiaries operating in currencies other than the euro and agreed on in a local currency have been converted to the average exchange rate of 2013.