BULGARI SPA 
By Notice of amendment of the share capital of Bulgari S.p.A.
Pursuant to the extraordinary shareholders’ meeting of Bulgari S.p.A. held on July 21st 2009, this is to confirm you the new composition in the share capital of Bulgari S.p.A. (subscribed and paid) as a result of the conversion in ordinary BVLGARI shares of certain bonds issued by Bulgari S.p.A. on July 8th 2009.
| Current Sharecapital | Sharecapital (prior to current update) | |||||
| Euro | n. shares | Par Value | Euro | n. shares | Par Value | |
| Ordinary shares: coupon n. 17 | 23.742.327,77 | 339.176.111 | 0,07 | 23.590.116,55 | 337.001.665 | 0,07 |
This variation has been duly filed for registration in the Trade registry on September 7th, 2011.
