Piaggio Group: New Governance Structure

PRESS RELEASE

PIAGGIO GROUP: NEW GOVERNANCE STRUCTURE

Matteo Colaninno Executive Chair

Michele Colaninno CEO

Mantua, 1 September 2023 - Meeting after the death of the company Chair and CEO Roberto Colaninno, the Board of Directors of Piaggio & C. S.p.A. (PIA.MI) reformulated the corporate governance structure, after receiving the recommendations of the board committees.

Director Matteo Colaninno has been appointed to the post of Executive Chair, with powers largely consistent with those he held previously.

Director Michele Colaninno, who was already chief executive of global strategy, product,

marketing and innovation, has been appointed Chief Executive Officer.

With a resolution approved by the Board of Statutory Auditors, the Board also coopted Carlo Zanetti as a new non-executive director, so keeping the number of board members unchanged.

The nine members of the Piaggio & C. S.p.A. Board of Directors - the majority of whom (5) meet the statutory independence requirements - are therefore:

Matteo Colaninno (Executive Chair), Michele Colaninno (CEO), Graziano Gianmichele Visentin (independent director), Rita Ciccone (independent director), Patrizia Albano (independent director), Federica Savasi, Micaela Vescia (independent director), Andrea Formica (independent director) and Carlo Zanetti.

In compliance with legal requirements, the new director will remain in post until the next meeting of the shareholders. The term of office of the current Board of Directors is due to end when the shareholders meet to approve the financial statements as at and for the year ending 31 December 2023.

As of today, Carlo Zanetti does not own any Piaggio & C. S.p.A. shares.

Thehttps://www.piaggiogroup.com/en/governance/companycurriculum vitae of the new director has been osted-boards/boardon the company-directorswebsite at

For further information:

Piaggio Group Corporate Press Office	Piaggio Group Investor Relations
Director Diego Rancati	Director Raffaele Lupotto
Via Broletto, 13 - 20121 Milan	Viale Rinaldo Piaggio, 25
+39 366.6267720	56025 Pontedera (PI)
[e-mail]	+39 0587.272286
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Via Privata Maria Teresa, 11 - 20123 Milan - Italy	Corporate Affairs
[phone]	Viale Rinaldo Piaggio, 25
[e-mail]	56025 Pontedera (PI)
	+39 0587.276294
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