2012 Half year financial report

Stock option plan

With regard to the 2007-2009 incentive plan approved by the General Meeting of Shareholders on 7 May 2007 and subsequently amended, for executives of the Company or of its Italian and/or foreign subsidiaries, in compliance with article 2359 of the Italian Civil Code, as well as for directors having powers in the aforesaid subsidiaries ("2007-2009 plan") during the period 150,000 option rights expired.

As of 30 June 2012, 3,940,000 option rights had been assigned for a corresponding number of shares.

Detailed information on the 2007-2009 Plan is available in the documents published by the Issuer in accordance with article 84-bis of Consob Regulation on Issuers. These documents are available on the Issuer's institutional website www.piaggiogroup.com under Governance.

Rights No. of options Average exercise price (Euro) Market price (Euro)
Rights existing as of 31.12.2011
 - of which exercisable as of 31.12.2011

New rights assigned in the first half of 2012
Rights exercised in the first half of 2012
Rights expired in the first half of 2012 (150,000)
Rights existing as of 30.06.2012
 - of which exercisable as of 30.06.2012



Mantua, 27 July 2012


For the Board of Directors

Chairman and Chief Executive Officer

Roberto Colaninno