PIAGGIO & C. S.P.A. ANNOUNCES EXCHANGE OFFER

Milan, 09 April 2018 – Piaggio & C. S.p.A. (the Issuer) announces that it is inviting Qualifying Noteholders of its outstanding €250,000,000 4.625% Senior Notes due 2021 (ISIN: XS1061086846) (the Existing Notes), to offer their Existing Notes for Euro-denominated Senior Notes due 2025 (the New Notes) to be issued by the Issuer (the Exchange Offer).

The Exchange Offer is made on the terms and subject to the conditions contained in the Exchange Offer Memorandum dated 9 April 2018 (the Exchange Offer Memorandum), including the offer and distribution restrictions contained therein. This announcement should be read in conjunction with the Exchange Offer Memorandum. Capitalized terms used but not otherwise defined in this announcement shall have the meaning given to them in the Exchange Offer Memorandum. Each of the Existing Notes will be exchangeable for the New Notes, as set forth in the tables below.

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