Major shareholders

Shareholders whose interest as December 31, 2011 exc. 2% N° Shares %
San Quirico S.p.A. 84,091,940 55.942
Polcevera S.A. 10,380,060 6.905
Tradewinds Global Investors LLC* 15,041,282 10.006
Generali Investments Italy SGR S.p.A. 3,349,000 2.228
Share capital euro 15,032,000.00 represented by 150,320,000 shares of ordinary stock

* in its capacity as asset manager, inter alia, for the TRADEWINDS INSTITUTIONAL INVESTMENT TRUST-TRADEWINDS GLOBAL ALL CAP PORTFOLIO, which holds a stake of 2.027%, and the NUVEEN TRADEWINDS GLOBAL ALL CAP FUND, which holds a stake of 2.614%