Corporate Social Responsibility Report 2015

1 Corporate Social Responsibility Report2015 Corporate Social Responsibility Report ..5 Letter from the note ..8 Its foundations ..10 Materiality analysis ..10 Report contents ..11 Report boundary ..12 Process of drawing up and assurance ..14 The Commitment of Piaggio Group ..16 Piaggio s Corporate Social Responsibility Model ..19 Generation of sustainable value ..20 Sustainability strategy ..21 Stakeholders involvement ..22 The process of the Sustainability Plan ..26 Group profile ..28 Main events and recognitions in 2015 ..33 Piaggio - facts and figures ..35 Piaggio Group Certifications.

2 36 Corporate Governance ..38 Role of the Board of Directors ..40 Code of Ethics ..41 Business Ethics model pursuant to Legislative Decree 231/2001 ..42 Compliance with laws and regulations ..43 Risk management ..44 The Economic Dimension ..482015 results and future and distribution of Added Value ..50 Public grants and tax benefits ..52 Value for shareholders ..53 Dividends ..54 Communication with shareholders and Investor Relations ..54 The Product Dimension ..56 Group Objective ..60 Research guidelines .. patent rights ..73 Funded national and European projects.

3 74 The environmental dimension ..78 Production sites ..81 Environmental of energy consumption ..83 Reducing emissions of CO2 and other water resources ..86 Waste handling and recovery ..88 IndexBiodiversity ..89 Environmental spending and investments ..89 Logistics ..89 The Social Dimension ..92 Developing human resources ..95 Staff ..95 Personnel management policies ..96 Meeting customer requirements ..114 Responsible management of the supply chain ..122 Supporting local communities ..125 Table of GRI-G4 indicators ..132 Report on the limited audit of the Corporate Social Responsibility Report .

4 1465 Corporate Social Responsibility ReportCorporate Social Responsibility Report Financial year 2015 (from 1 January to 31 December 2015 ). Cycle. This document was published on 24 March 2016. The 2014 CSR was published on 7 April 2015 . This issue is available in PDF in Italian and English on the Internet website: The information and data refer to the companies of Piaggio Group included in the scope of consolidation as of 31 December 2015 . The financial data reflect those in the 2015 Piaggio Group Consolidated Financial Statements. The contents of the 2015 CSR are based on the requirements of the Global Reporting Initiative G4 - Core option.

5 The CSR Report 2015 has been subjected to a limited audit by PricewaterhouseCoopers Advisory SpA, an independent third-party company. It carried out its work in accordance with the International Standard on Assurance Engagements 3000 Assurance Engagements other than Audits or Reviews of Historical Financial Information ( ISAE 3000 ), issued by the International Auditing and Assurance Standards Board for the purpose of checking CSR Report compliance with the G4 Sustainability Reporting Guidelines published in 2013 by the GRI-Global Reporting Initiative BUSINESS ETHICS COMMITTEEE mail: INVESTOR RELATIONSR affaele Lupotto Senior Vice President, Head of Investor RelationsEmail.

6 +390587 272286 Fax +390587 276093 PRESS OFFICEE mail: PERIODANNUAL REPORTINGDATE OF PUBLICATIONDOCUMENT FORMATSSCOPE OF THE REPORTCONTENTS OF THE REPORTSTATEMENTCONTACTS6 Piaggio Group7 Corporate Social Responsibility ReportLetter from the ChairmanFounded in December 1884, the Piaggio Group entered its 130th year of operations in 2015 . However it was not a year dedicated to celebrations, but to the development of new and important research and innovation platforms, designed to ensure that the Piaggio Group is very much looking to the future.

7 Indeed, this is the best way to honour our history while also securing growth in the years to specific focus of our work has been on research into solutions to current and future problems. In fact, that is the main aim of Piaggio Fast Forward, which was founded in Cambridge, Massachusetts, to create innovative solutions in the field of mobility to be used in places and by people that for now we can only imagine. Also in the United States, over on the West Coast, the Piaggio Advanced Design center (PADc) in Pasadena is exploring the new frontiers of design, to come up with increasingly innovative products focused on functionality, efficiency and superior, distinctive style that are worthy of the history of the Piaggio Group and its most prestigious Europe, the Group s Research and Development Centres traditionally focused on creating new products and bringing them into production has now been joined by Aprilia Racing.

8 This racing unit has a strong history of sporting glory, having won 54 world titles in a little over 20 years. Moreover, it is now home to with our most advanced development programme, which designs and tests new materials and technological solutions that can benefit all the Group s the world, our work has a single focus and reference point: the consumer. The Piaggio Group s strategic, technical and business approach is built around this idea. Understanding our customers means sensing their needs before they even express them, offering them new products that are not only useful, safe and exciting, but also and the Group is especially cutting-edge in this area more and more new and integrated ways to interact with their vehicle, as enabled by the communications tools of today and such, it is a priority for us to gain a better understanding of the end consumer by developing a new global Customer Relationship Management platform.

9 To understand the needs and expectations of customers and accompany them throughout the sales and aftersales experience. A fundamental part of this process is the decisive introduction throughout all our global markets of a new retail concept called the Motoplex, which offers customers a greater range of products and services while reflecting and enhancing our brands premium fact, the Group s brands are its principal asset: recognised throughout the world as a byword for quality, innovation, beauty and style, they remain so well-known, liked and strong because they have always managed to reinvent themselves as time has gone on, without losing their values or history.

10 Indeed in 2016, Vespa celebrated its 70th anniversary and Moto Guzzi reached its 95th birthday. These brands remain a shining example of products Made in Italy in the wider sense of the term that have become internationally entrenched as a manifestation of a culture even more so than of an industry. They are symbols of a level of creativity and a lifestyle that is admired and recognised throughout the , planning, hard work: these are the cornerstones of any business or manufacturing activity, hence I recall them now, at the end of this letter, together with the one factor that makes an essential contribution to our success.