Proposal for approval of the financial statements and allocation of the 2010 profit

Dear Shareholders,

The year ended 31 December 2010 closed with a profit of € 164,351,897.

The Board of Directors recommends that the profit be allocated as follows:

  1. € 61,025,966 as dividends (€ 0.24 per share);
  2. € 103,325,931 to be carried forward.

Given the above, we submit for your approval the following

motion:

“The annual general meeting of shareholders:

  • having examined the 2010 financial statements which close with a net profit of € 164,351,897;
  • having acknowledged the report of the Board of Statutory Auditors and of the independent auditors, KPMG S.p.A.;

hereby resolves

  1. to approve the financial statements at and for the year ended 31 December 2010, showing a net profit of € 164,351,897;
  2. to approve the recommended allocation of profit as follows:
    1. € 61,025,966 as dividends;
    2. € 103,325,931 to be carried forward;
  3. to pay total dividends of € 61,025,966 out of the profit for the year, hence a dividend of € 0.24 per share;
  4. to pay dividends as from 26 May 2011, with coupon no. 9 going ex-div on 23 May 2011.”

8 March 2011


The Board of Directors