DISCLAIMER

It’s Piaggio’s IR practice to monitor financial analyst estimates on a regular basis.
The consensus provided herewith is calculated as the arithmetic mean of the most recent estimates accessible by the Company and formulated by a selected sample of analysts, thus representing Piaggio’s understanding of current brokers’ expectations on its future results.
The consensus figures available to Piaggio may not fully reflect the actual expectations of the financial community at large.
The data contained in this section are by no means intended as recommendation to buy or sell, and neither as Piaggio’s own guidance on future results or endorsement of forecasts, opinions  and recommendations made on Piaggio.
A list of financial analysts known by the Company is available on Piaggio’s website.

Consensus at October, 30, 2017

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